How to Choose the Right Location for Your Business


March 4, 2022

How to Choose the Right Location for Your Business

Choosing a business location is complex. We’ve put together a list of 9 considerations to help you choose the best place for your business.

Every city I have ever been in has had a shopping center that seemed like it was cursed. No matter what types of businesses opened in the location, they could never maintain a full shopping center. Do you have a location like that where you live?

If so, you know the importance of choosing a location for a business. You want your new business location to excel because you chose the best location for your business. We talked to David Schomer, the owner of Espresso Vivace and the person who is considered the originator of Latte Art. Amongst other things, he gave us some information about how to select the location of business activities.

We’re going to provide you with the information you need to pick the best business location for a retail business and other businesses including:

  1. How the location of business impacts the success
  2. Types of business locations
  3. What is the right location for a retail business
  4. Business location factors to consider

Let’s jump in and explore the question: “Why is the location of a business important?”

How the location of business impacts the success

A man searching for a business establishment online

When you choose a business location, it is one of the most important decisions you can make because it factors into every other aspect of your small business. As David pointed out there is a reason for the saying:

“Location, Location! L – O – C – A – T – I – O – N !”

Here are just some of the ways location impacts success:

  • The pricing of property impacts your costs and profit margin. Retail Minded has an article about how Britain asks commercial properties to reduce rents to stimulate economies.
  • Some locations can make it hard or dangerous for employees to get to work, impacting companies’ eligible pool of talent.
  • If a company is far from its target audience it will cost more in travel costs. If they are a service business it will likely result in fewer customers if they will need to come to the business location.
  • Failure to follow zoning laws can incur penalties. In New Jersey, the penalties can be up to $10,000.
  • If two salons are right next to each other, one will probably go out of business (or be bought by the other. This goes for many businesses that are fairly interchangeable.

As you can see, a small business location strategy can determine whether a company succeeds or if it is driven out of the community by high costs and local zoning ordinances. Since choosing a potential location for your business is obviously important, let’s look at the types of business locations you can choose.

Types of business locations

Business locations typically fall into several categories. The most common type of business locations are:

  • Shopping centers – Great places for retail space, grocery stores, restaurants, and salons
  • Business parks – Best for offices spaces
  • Coworking spaces – Best for knowledge-based workers that need a quiet space to work and to meet clients
  • Home businesses – Best for companies starting off that have no inventory and no customers come to their locations
  • Industrial areas – If your industry lets off major pollutants, you’ll probably need to be in an area zoned for this.
  • Arts districts – Best for companies focused on creative work.
  • Malls – Best for companies targeting teenagers and companies that can operate booths
  • Warehouses – Best for construction businesses
  • Standalone – Car washes, mechanics, fast food, restaurants
  • Agricultural – Rural areas with land for growing food. Make sure it isn’t protected by EPA before buying or the business owner could lose lots of money.

If you aren’t quite sure you’re ready to choose a business location, check out our business launching guide. Otherwise, keep reading for more information on the most common type of business started.

Business location factors to consider

There are a ton of considerations when choosing the perfect space, but the following are some of the most important:

  1. Near your demographic
  2. Square footage
  3. Pricing
  4. Zoning
  5. The other businesses nearby
  6. Foot traffic
  7. Parking
  8. Government Incentives
  9. Access to Transportation

Keep reading to find out why!

Factor 1: Near your target market

The right location should always be near your target audience. Small businesses are so competitive that they have to be conveniently located to the target demographic. If the desired location is not near prospective customers, it is a bad location. You won’t get the customer base you want.

David had a little to say about choosing a location for a coffee shop. Watch that segment of his interview below:

For those of you who aren’t able to listen because it will disturb those around you, he said:

“Coffee shops need an urban location with lots of foot traffic. I wouldn’t open a coffee shop in a rural location or a drive-through. The business would be garbage.”

That’s why you should have a demographic profile of your potential customers in mind and check out the Census Bureau’s statistics on income before trying to pick the right community for your business. Disposable income is available for most cities by zip code.

Keep reading for other factors that go into choosing a specific site for your business location.

Factor 2: Square footage

A location strategy for business people should include considering how many square feet are needed for the business. You can look at similar businesses in the local market to get an idea of how many square feet you need.

Alternatively, this guide from the City of Davis provides the number of square feet per employee that the city requires. While this is only applicable for the Davis local area, most cities should have something similar. Make sure to do thorough market research about the local ordinances before shopping.

You may want to plan for a certain location to grow with your business. If you do, the right location should be able to hold any growth in employees you have for at least three to five years. Unless you are building, there’s no need to go beyond 5 years, but when building you may want to go out 10+ years.

Keep reading to understand how pricing should factor into choosing the right location.

Factor 3: Pricing

You should be aware of how to judge the cost of a property by several methods. A site will typically be charged on a price per square foot that is converted to a monthly or annual rate. If a location has higher prices than the general area, that could mean there is high demand for the location.

Meanwhile, low rent could be an indication of problems with the site, such as bad parking options, an oddly shaped space, or previous tenants did a lot of damage to it. Make sure to look at the property in person before committing to it.

You might pay a higher price if the site offers a street-side sign to encourage customers to visit your location. This can be really beneficial because the sign is effectively a marketing expense and should increase revenue.

Factor 4: Zoning

A man typing on the keyboard

A zoning ordinance is a rule regarding how land in a specific area can be used. Zoning regulations normally specify a few different types of land:

  • Agricultural – Land for growing food, cotton, tobacco, and marijuana (where it’s legal)
  • Commercial – Restaurants, retail stores, and salons
  • Residential – Homes, duplexes, apartments
  • Industrial – HVAC, electrical, manufacturing, supply houses, and businesses targeting the employees of the previously listed companies.
  • Mixed-use Typically a mix of commercial and residential, but could be mixes of others

There may be more but these are the typical zones. Check with your local SBA office to find out your city’s zoning requirements.

Factor 5: The other businesses nearby

Nearby businesses can influence where you locate your business in a community as well. There are two primary scenarios you want to consider:

  1. Are there certain types of businesses that would be good to be near? For instance, a Lululemon might want to be near a 24 Hour Fitness so they can sell athletic gear to the gym’s customers.
  2. How close are competitors or your other locations? You don’t want to have two coffee shops in the same parking lot, or even on the same cross streets unless the cross streets have an insane amount of traffic.

Factor 6: Foot traffic

The community activity in a shopping center can dramatically increase the number of customers that come into a newly opened store. If you are right next to a grocery store, you are likely to have more customers visit your site than if you are in a standalone building with no other businesses nearby.

Make sure to go to the location during different times of day to verify what the traffic patterns look like. Alternatively, you can talk to current tenants and ask them questions like:

  • How many walk-in customers do you have per weekday? Weekend days?
  • What are your busiest times of the day?
  • Do you have seasonal fluctuations? If so, what are they?

Factor 7: Parking

The parking scenario should also be considered when you research “what is the right location for business.” In general, sufficient parking would include:

  • One parking spot for each of your employees
  • One parking spot for every three customers based on maximum occupancy of service businesses

You should also make sure the parking lot is in good condition. If it’s not, there is a good chance the property owner doesn’t take good care of the building either.

Factor 8: Government Incentives

There are government incentives from federal, state, and local governments to encourage businesses to open in certain locations. You’ll need to talk to each local government to find out what incentives they are offering but check out HUD incentives for the most common incentives.

Often the incentives are in the form of tax waivers, credits to your taxes, or increased deduction limits. Make sure to do your research and talk to a tax attorney.

Factor 9: Access to Transportation

Employees need to get to work. If you are in a town with public transportation, determine routes and where they make stops. You can take that information into account by finding spaces to rent that are near the route stops. It will make workers’ lives easier.

Go Find Your Perfect Business Location

Now you know how to choose a location for a small business. You’ll need to work with a commercial real estate professional to find the location that works best for you. Presearch it!

If you’ve already chosen a business location, you’ll need to remodel it to suit your use. Check out Service Wise Electric’s blog about remodeling for advice on how to go about renovations.

Alternatively, check out our interview with a boutique owner who has some good insights about a commercial buildout.

We hope you enjoyed learning why location is important, envisioning the types of locations, and understanding what to consider when selecting a business location. 

At UpFlip we aim to write content that helps you solve your most pressing business needs. While analyzing search results can help us find some of the most searched inquiries, we know that sometimes SEO doesn’t give you the exact answer you need. What would you like us to provide more information about?


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Every interaction counts in the dynamic realm of sales. Each prospect holds the potential for growth. That’s why mastering the art of opportunity management is crucial to your success in a competitive market.

We’ll explore opportunity management by guiding you through its definitions, synonyms, and fundamental goals within the sales landscape. We’ll provide strategies, best practices, and software recommendations to empower your business to manage sales opportunities effectively.

[su_note note_color="#dbeafc"] Click on any of the links below to jump straight to the section that interests you, or just read on.

What is opportunity management?

Concept of woman working on tablet with upward trending graph and pie chart holographs hovering above the screen to show what she’s working on

Opportunity management is a collaborative process for businesses to identify and pursue sales opportunities. The process is used to track and manage opportunities throughout the sales pipeline to increase sales and revenue. Opportunity management helps businesses:

  • Gain insights into customer needs and preferences
  • Prioritize deals that are most likely to close
  • Optimize internal resources by focusing on leads with the highest chances of conversion
  • Target customers with personalized offers
  • Strengthen their sales approach

Activities in the opportunity process generally fall into one of three categories:

  1. Lead management: You want to take leads through the lead generation software, qualifying, nurturing, and conversion process.
  2. Process tracking: This refers to tracking and analyzing who's in your pipeline, their path to becoming a customer, and the communication.
  3. Process improvement: You’ll also want to review your process, disqualify poor fits for your service, and remove wasteful steps.

Synonyms and definitions

There are numerous terms that you will see used in management opportunity discussions. We’ll discuss:

  • Synonyms for opportunity management
  • Sales leads
  • Sales opportunities
  • Opportunities in customer relationship management
  • Differences between leads and opportunities

Synonyms for opportunity management

There are some terms you will see used interchangeably when researching opportunity management, including:

  • OM
  • CRM opportunity management
  • Pipeline management
  • Sales opportunity management

They all mean the same thing: identifying, pursuing, and managing sales opportunities.

What is a sales lead?

A sales lead is a person or business that might become a customer. Leads are the earliest stage of the customer journey. Leads might not be ready to make a purchase, but they need what you offer.

A lead will always be someone who has expressed interest in your business by clicking on a link, filling out a form, signing up for an offering, or asking a question. You might find sales leads through:

  • Advertising
  • Direct mailings
  • Referral from an existing customer
  • Direct response through advertising or publicity
  • Trade shows
  • Third parties
  • Other marketing efforts

What is a sales opportunity?

Business owner pointing to graphs on a laptop while conducting a sales opportunity management tutorial

A sales opportunity is further in the lead management pipeline than a sales lead. When a contact becomes a sales opportunity, they are a qualified prospect, likely to become a customer.

By qualified prospect, we mean you have already interacted with them, established their pain points, and confirmed your product or service will solve their problem.

Once you have reached this stage, you are more likely to make a sale.

Sales opportunity planning is a complex multi-step process including researching, then qualifying the individual, and then developing a strategy to solve their problem. It is helpful to have a documented process, guide, and training to help your sales team manage opportunities.

Some of the best ways to identify or create new sales opportunities include:

  • Creating buyer personas
  • Using a CRM software to manage client interactions
  • Pursuing customer referrals
  • Establishing affiliate programs or third-party referral streams
  • Going to events, expos, and conventions

What is opportunity in CRM?

In customer relationship management (CRM), an opportunity is a qualified lead that has shown interest in your product or service—and with the proper nurturing is likely to become a customer.

Opportunities are used to manage your business, not people or client companies. They’re identified and tracked through the sales process from inquiry to contract to satisfaction. Measuring opportunities is most successful for longer sales cycles and maintaining ongoing relationships.

What is the difference between opportunity management and lead management?

Opportunity management is a subsection of lead management. Lead management focuses on the acquisition, assistance, tracking, and converting of new clients; opportunity management is focused on assisting, tracking, and converting the leads who are most likely to convert into customers.

As you can see in the picture below, opportunities are several steps closer to becoming customers than leads, but they’re still part of the lead management process.

Sales opportunity management goals

Opportunity management is used by a business owner, sales manager, or sales opportunity manager to increase three main metrics:

  1. Conversions
  2. Revenue
  3. Profitability

To attain these objectives, sales entities need a system for overseeing and monitoring opportunities within the sales pipeline. Additionally, they should employ strategies to engage with potential clients throughout the sales journey, ensuring the timely delivery of relevant communication aligned with their decision-making stages.

Next, let’s look at how to manage sales opportunities.

How to manage sales opportunities

The opportunity management process can be complicated, but if you use a strategy and implement a sales pipeline, you’ll find the sales process gets easier as time goes on. You’ll want to:

  1. Understand the sales cycle.
  2. Track communication.
  3. Standardize the sales cycle.
  4. Create a sales pipeline.
  5. Research the prospect.
  6. Qualify leads.
  7. Follow up appropriately.
  8. Review your process.
  9. Disqualify dead prospects.
  10. Refine the opportunity management process.

Understand your sales cycle

Potential customers will go through a series of steps before they become paying customers. In most purchasing decisions, prospective customers will:

  1. Realize there is a problem they need solved.
  2. Research how to solve the problem. It’s common for purchases to start with an online search, so part of your business strategy should be content marketing optimized to help potential customers understand how to solve the problem.
  3. Research alternatives to solve the problem. Customers might look at options like which company to use, reviews, and alternatives such as replacement or repair. You’ll want to address all of these to help build customer relationships and prepare them for what comes next.
  4. Request information. Customer behavior, like sending an email or signing up for a free trial, shows they are interested in your business. You need to provide them information in a timely manner.
  5. Choose a provider. Customers might contact a single provider or multiple. Then they’ll choose the one who solves their problem best.
  6. Make a purchase. Once the customer has chosen you, they will want you to solve their problem and pay as conveniently as possible.
  7. Evaluate the product or service. Your new customer will evaluate your work, so make sure to ask for customer feedback.
  8. Appreciate the company’s work or become dissatisfied. Hopefully, you’ll have another satisfied customer and be able to build an ongoing customer relationship. Do everything you can to fix it when customers aren’t happy with your product or service.
  9. Make future decisions based on their experience. Existing customers will make decisions based on your customer relationship management. Satisfied customers will probably return to do business with you. They might even refer their friends.

In our interview below, Neel Parekh discusses how he approaches the opportunity management process. Check it out.

https://www.youtube.com/watch?v=kVyLriqFVdc

Track communication

As a busy entrepreneur, you’ll want to track communication during the opportunity management process. CRM software will help you track all the communication you have with sales leads. There are numerous sales CRM tools you can use, which we discuss in our reviews of client management software.

The most important thing to know right now is you need all your points of contact to connect to the CRM software. This allows you to have a single place for you (or your sales team) to refer to previous customer data, like referrals, previous conversations, and customer lifetime value.

Standardize the sales cycle

The next step of your opportunity management strategy should be to define exactly what your sales team does when managing sales opportunities. This step will probably be performed by a sales manager who is familiar with the opportunity management process flow, while the next step will normally be performed by someone well-versed in automation software.

The more defined the process is, the easier it will be to manage your sales and automate portions of it using a sales funnel.

Create a sales pipeline

Teammates discussing the sales pipeline, shown on a tablet, during a meeting

Sales pipeline management normally requires someone well-versed in automation technology. It helps you effectively manage your sales opportunities by providing the steps your sales team needs to take while managing opportunities. Each step will have a specific goal.

Many of the tasks can use automation. For instance, when someone books an appointment online, you can automatically send an email that confirms the appointment through the CRM system. The more tasks you can automate, the more efficient your sales representatives will be and the more potential sales you can close.

Research the prospect

This step is important. According to LinkedIn’s 2022 State of Sales report, 42% of potential customers leave because sales reps don’t understand their needs.

Salespeople should prioritize opportunities and focus on the most qualified leads first. Before reaching out to a lead, the sales team should research the prospect to understand as much about them as possible. You’ll want to identify sales opportunities based on their business objectives, pain points, budget, and team size.

Understanding this information creates effective sales opportunity management because you can provide the prospective customer with the right information at the right time without repeating yourself during each interaction.

Qualify leads

Not all sales opportunities are created equal. During the early stages of customer relationships, the sales rep should gain valuable insights to establish what the customer's needs and limitations are; then they should help them make informed decisions. 

One of the things many small business owners struggle with is trying to make everyone happy. While everyone likes closing deals, some customers aren’t a good fit. Just because they don’t have purchasing authority isn’t a reason to rule them out, but as you learn more about the customer, you should consider whether they are a product-service fit. 

If they aren’t a fit, consider referring them to someone who would be a better fit. Using this strategy for sales lead management can open up business opportunities.

Want to learn more? Check out our interview with Joshua Brown. He explains how bringing in a sales manager helped him double his business in a year.

https://www.youtube.com/watch?v=hDVizUeYuIU

From this point on, only qualified leads should be considered sales opportunities.

Follow up appropriately

As customers progress through the sales opportunity stages, they’ll want different information. At first, they’ll want to understand what impacts the success at solving their problem, followed by looking at your product catalog, then they’ll want to know which product or service will help them best, and, finally, how to become a customer. 

Make sure to tailor the information you send them to the individual, reiterate your key points, and help them progress to making a data-driven decision.

While you’ll want to keep track of lead conversion ratios, a low ratio doesn’t always mean you’re missing potential sales. It can also mean that you need to narrow the requirements to identify sales opportunities.

Review your process

In addition to managing opportunities, you need to review your opportunity management process. You should have sales data that paints a picture of where your sales funnel is doing well and where the sales strategy needs improvement.

Your opportunity management system should have a dashboard that tracks:

  • Churn rate: This key metric represents the rate a business loses customers over time. A low churn rate is better because it means a business is losing fewer customers and potential revenue.
  • Win rate: The percentage of sales opportunities that a sales team successfully closes. A higher win rate means a sales team is more likely to close more opportunities, which can make a business more profitable.
  • Sales cycle length: Tracks a prospect as they move from lead to customer. A shorter sales cycle length means a business can earn money faster.
  • Average deal size: The average revenue generated per deal. This metric helps businesses understand the value of deals and plan for the future.
  • Customer satisfaction: This helps boost sales and is a key factor for acquiring a new customer base.
  • Lead response time: In some industries, a quicker response to a sales prospect's inquiry can increase the chances of getting a sale.
  • Net promoter score: This is a reflection of how well a business satisfies its customers. It’s derived from a simple survey question: “On a scale from 0 to 10, how likely are you to recommend this product or company to a friend or colleague?”

You might also want to keep track of the following metrics on the dashboard.

  • Revenue growth rate
  • Gross profit margin as a percentage of sales
  • Net profit and net profit margin
  • Cash flow
  • Accounts payable turnover
  • Cost of goods sold
  • Customer acquisition cost

Disqualify dead prospects

Many CRM systems charge based on the amount of automation actions that are used. Leads that have been dormant for an extended period should be removed from the sales funnel. You might not want to, but you’ll close more deals if you focus on hot leads.

Part of opportunity management is focusing sales activities on people who are interested. Don’t jeopardize your business over people you have to chase down. Focus on identifying the difference between qualified leads and dead leads so you can find a way to stop sales outreach to people who are unlikely to respond.

Explaining automation actions and their impact on business expenses

Automation actions are any step taken in an automated workflow. Companies will often bulk-send automated emails to people on their email list. If you have 20,000 people on the email list, that would cost between $230 and $535 per month on MailChimp.

Imagine 10,000 of them haven’t opened an email in three months. You can cut your costs by creating a new list called inactive contacts, stop sending those people emails, and save between $120 and $185 per month.

That’s why paying attention to the automation actions is important during opportunity management.

Refine the opportunity management process

Opportunity management is the process of improving your sales results, so make improvements when you find something isn’t working or isn’t adding value. Each sales call will be more productive when your sales reps can focus on closing the best leads.

Best practices for managing the sales process

Team learning about opportunity management in a small meeting room

It’s important to follow opportunity management best practices so you can avoid many of the reasons a sales team fails to close a deal.

Remember, over 40% of potential customers leave because sales reps don’t understand what they need. This is preventable with better training and a good CRM software.

That means you’ll need to focus on following best practices to close more deals. Best practices like:

Set responsibilities and tasks

Each step in the opportunity management process should be well defined and have a designated employee or team who handles it.

When you first start, you might be the one working on all the tasks, but as you grow, you might need to hire sales reps, sales managers, and maybe even entire sales teams.

Leverage data

You’ll have data coming in from marketing campaigns, accounting software, social media, sales calls, and other sources. If you don’t have all the information in real time, your sales marketing strategy probably won’t work. Make sure your opportunity management system provides you with the information you need to succeed.

In addition, you’ll want to automate to simplify data entry. You can do this by investing in a CRM with opportunity management tools.

Opportunity management software

Woman logging into a sales dashboard on her laptop

Business owners and sales reps need CRM software to adequately manage their account planning, contact management, and communication. A good CRM software will also help decision-makers, project managers, and sales teams identify data-driven sales opportunities and conduct risk management.

Let’s discuss the CRMs with the best opportunity management tools and systems.

Jobber

Jobber is one of the most user-friendly opportunity management systems. Monthly plans start at $69 for one-person businesses, but they get dramatically more expensive if you want the best features. 

The $349-per-month plan will make it where all you really need to run your business is your equipment and Quickbooks.

Monday Sales CRM

Many sales teams use Monday.com’s Monday Sales CRM to identify sales opportunities and manage their interactions. They have four tiered plans starting at $45 per month for three users and increasing to $99 monthly before going to the quote-only enterprise plans.

Learn more in our overall Monday.com review.

Salesforce

Salesforce is one of the most sophisticated CRMs on the market. Pricing starts at $25 per user but goes up to thousands per month.

One of the real benefits of this sales opportunity management platform is that it has some of the best training courses in the opportunity management field. This is a real positive for people who want to save money by setting up their opportunity management process themselves.

Check out Salesforce.

Start managing opportunities better

We’ve concluded our journey through the realm of opportunity management. We've navigated the depths of its meaning, explored synonymous terms, and outlined the fundamental goals that set your business on the trajectory for success in sales.

Understanding how to manage sales opportunities is not merely a skill; it's an indispensable strategy for any thriving business. Armed with best practices for managing the sales process, you now possess a toolkit for optimizing and maximizing the potential of every interaction.

Yet, in this digital age, the integration of technology plays a pivotal role. Opportunity management software has emerged as an ally to streamline and enhance your efforts. They create a structured approach to handling opportunities and boos overall sales efficiency.

Mastering opportunity management isn't just seizing moments; it's about creating a sustainable, strategic approach to unlock success. We hope the insights shared above help you harness the full potential of every sales opportunity.

Which parts of the sales process would you like to learn more about?

Have you always wanted to start a business, but felt like you couldn't afford the startup costs? We'll show you how to start a business with no money. Upflip is here to help you. We're going to walk you through the steps of how to start a business with no money. We'll share some of the business ideas that Paul Akers from Fast Cap and Mike Andes of Augusta Lawn Care Services see as great opportunities. In addition, we'll share information with you from Russell, an 18-year-old making over $100k/year by starting Legends Lawn Care Services. He started with $2,000 and explains how you can do it with less. We'll cover the following aspects about how to start a business without money:
  1. Coming up Small Business Ideas
  2. Market Research
  3. Business Plan
  4. Funding
  5. Name the Business
  6. Structure the Business
  7. Preparing for Opening Day
  8. Tips on how to start a business without money
Keep reading to learn how to become an entrepreneur with no money.

Step 1: Come up with Small Business Ideas

You know "I want to start a small business, but have no money." Small business ideas can come from anywhere. Some of the best ways to come up with business ideas include:
  • Looking at what other industries do and how it can be applied to yours.
  • Looking at what other countries do and how it can be applied to yours.
  • Observing a problem and finding a way to solve it.
Let's look at each.

Look at what other industries do

A white notebook and a cup of coffee on a desk Paul told us some of the products he sells came from other industries. Here are a couple of products that crossed from one industry to another. [su_quote]We have a product called the GlueBot. I took something from the food industry and moved it over to the woodworking industry. Today that’s one of the best products we sell.[/su_quote] [su_quote]CruisinCap was another product like that. I spilled my coffee on myself and went inside grabbed a Fast Cap and it kept my coffee from spilling. that's how CruisinCap was built.[/su_quote] CruisinCap sells billions of pieces worldwide. What business ideas could you solve with this type of thinking?

Look at what other countries do

Different cultures approach business ideas differently. When you travel, take note of what you see in the other places and consider how you can bring it back home. Paul told us about his travels to Japan: [su_quote]When I go to Japan, I’m very observant of what the Japanese are doing because the Japanese are very clever people, very resourceful people.[/su_quote] He went on to tell us about one of the products that he really loves out there, hot coffee vending machines. They bottle their coffee and keep it hot in the vending machine. That way you can have a hot coffee straight from a vending machine.

Observe a problem and solve it.

Paul discusses how he comes up with the business idea for Fast Cap in his interview. [su_quote]I came up with a situation as a cabinet maker where I was trying to cover a screw hole inside of the cabinet and the existing technology was plunky and difficult. I came up with the Fast Cap, now we have 800 products.[/su_quote] He goes on to explain how he goes about creating so many great products. [su_quote]Don’t complicate things, look for problems, and solve those problems with elegance and if you do that, pretty amazing things can happen in an individual's life.[/su_quote] Watch the whole video below. He tells a great story. [su_youtube url="https://youtu.be/CdxKZWfD4fA?t=152"]

What is the easiest business to start with no money?

The easiest business to start without money is the one that you already have the skills and tools for. Mike Andes told us: [su_quote]If you want to start your own business without money, the easiest way is to sell your time.[/su_quote] He gives an example of starting a weed-pulling business. It doesn't require any tools, just time and attention to detail. When I was growing up, I used to do this and make $20/hour cause the neighbors couldn't get normal landscapers to do it the way they wanted. Russell agrees that a lawn care business is one of the easiest ways to get started with little or no money. He told us: [su_quote]If you don't have the tools and the money to start a landscaping business, you can always require 50% upfront and go buy the tools with the retainer.[/su_quote]

How to Start an Online Business With no money

Personally, I think that being out in the sun all day, pulling weeds and operating machinery sounds like more work than I want to do. I tend to prefer using my mind over my body to earn a living that's why I do freelancing. Freelancing is taking on contract jobs online that businesses need help with but don't want to hire a full or part-time employee to do the work. As long as you have a computer and internet, you can start freelancing on companies like: There are five types of jobs that employers are typically looking for on these sites:
  1. Development jobs
  2. Graphic Design jobs
  3. Blogging and other writing jobs
  4. Digital Marketing
  5. Admin Work
If you don't have experience in these fields you should look for a mentor to gain experience. Let's look at each of these in more detail.

Business Idea: Software Development jobs

If you know how to build websites and work with coding languages, there is always a demand for software developers. Upwork has over 4,000 current listings looking for developers for projects. If you know any of these languages, companies are looking for help:
  • JavaScript
  • Python
  • HTML
  • Css
  • Java
  • SQL
  • NoSQL
  • C+
  • Rust
  • Perl
  • Go
Learn more about each one at Berkeley Extension. Most of the languages have free tutorials if you go to their websites, which can make it easy to learn them. In addition, Youtube videos can help you figure almost anything. Just don't take on more than you can achieve because your ratings will impact what jobs you can get. I know people who bill up to $500/hr for development work. If you can book these types of jobs, you'll be well on your way to starting your own business.

Business Idea: Graphic Design jobs

A woman holding a book about graphic designing Graphic design is another highly in-demand field where you can start a successful business with no money down. Upflip has nearly 3,900 graphic design projects looking for a designer. If you have some skills in Adobe Creative Cloud or comparable software, this can be a highly profitable online business idea.

Blogging and Other Freelance Writing Jobs

There are over 5,700 writing jobs on Upwork. This is my favorite type of online business because it gives me the opportunity to learn about new subjects and make money doing it. I will warn you, that it takes more than just writing about a subject. Other business owners want to see results quickly and a great blog is not the online thing that goes into business writing. You'll need to do Keyword Analysis and SEO Best Practices to help a new business get the most out of its content. At Upflip, we use SurferSEO to help us make sure we are writing the best blogs to give our readers exactly what they expect. For some blogs, I will also use rtyr.me to autogenerate content. Many writing jobs will pay a price per word, typically between $.02 and $.15/word. You need to be aware that you cannot assume that your WPM can be directly converted to your hourly. Each Upflip blog will normally include:
  • 1-2 hours watching videos
  • 1 hour finding and reading links
  • 1 hour editing
  • 2.5 hours writing ( I only type about 30 words per minute)
  • 1 hour back and forth with the client
  • 1-2 days struggling to figure out what story I want to tell (insert laughing crying face emoji)
So I might be able to do three blogs a week on a good week. at $.02/word, it would only be $92, which comes out to $11.50/hour, but they pay me far better than that. Just make sure you are aware of the time you spend on your business venture. If you bill based on 4 hours of time for the first 1,000 words and an hour for each additional thousand, you should be able to make a great living with this internet business.

Business Idea: Digital Marketing

Digital marketing is focused on helping businesses reach their customers. This can be through ads, social media marketing, or other marketing strategies. Businesses focused on this category will need to have familiarity with the platforms they are performing work on. The four major platforms that businesses really need help managing are:
  1. Google- Check out Google Digital Garage to learn how to maximize the utility of their platforms.
  2. Facebook-Check out Facebook Blueprint to learn how to maximize the utility of their platforms
  3. Amazon- Check out Amazon Advertising Learning Console to learn how to maximize the utility of their platforms
  4. LinkedIn- Check out LinkedIn Marketing Labs to learn how to maximize the utility of their platforms
Pay can be hourly, by the project, or based on performance. Make sure when starting off you aim for hourly. While you are developing your skillset there will be quite a learning curve. You'll be paying for your learning curve in its entirety if you charge by the project or based on performance. https://www.upflip.com/blog/most-profitable-businesses

Market Research

When starting a business with little money, or even no money, you'll need to research the product-market fit. A good business to start at a low cost is one that can be started with low upfront costs but has lots of demand for it. High demand and low upfront costs make a cleaning service the best business to start with little money. You already have the products you need at home and your target customer is anyone who needs help cleaning. (Let's face it everyone could probably use some help there. In other businesses, you'll have to do some market research to see whether your area needs them and how much money you can make when starting a business. Market research is simply establishing if there is demand for your product or service. Mike spends quite a bit of time discussing how to conduct market research. He shows the basic concept of market research by surveying his employees. Watch his take on conducting research below. [su_youtube url="https://youtu.be/xJ71lGDtSt4?t=456"] He discusses aspects such as demographics, online surveys, and target market. Let's look at each of these terms to better understand how to start a business.

What are demographics?

Demographics are statistical characteristics of a population or a subset of the population.  Some considerations you’ll want to consider are:
  • Location
  • Age
  • Gender
  • Other Interests
  • Marital Status
  • Do they have kids?
  • Job title
  • Income

How do I find out who my potential customers are?

If you have a new product idea potential customers may not be easily identifiable. If a business requires surveys and focus groups to establish what demographics are drawn to your small business idea, you may want to ask yourself? [su_quote]Is this the best business to start with no money?[/su_quote] As long as you have a few funds, you can use Facebook Ad Center to conduct surveys for less than $1 per action. PowerAdSpy has a great blog on how to use Facebook ads for market research campaigns. Paul has a great way of identifying your target market if you have a product. Just ask friends and family what they think of the product. [su_quote]If they offer to buy it off you, you have a winner. Anything else they could just be focused on not hurting your feelings.[/su_quote] Take note of the demographics of the people who are most interested and they'd be your target market.

Identifying your target market

A successful business needs to know who its ideal client is. Since you've just barely come up with the business idea, you'll need to figure out who buys the product or services you are selling. Facebook has got this down to a science, but their ads can be complex to use if you don't know what you’re doing. Wordstream published an infographic with all of Facebook's targeting options. If you want to get your target market as precise as possible, spend some time learning about each of the options.

A Business Plan for How to Start Your Own Business with no Money

Trying to start a successful small business without startup capital is going to be different than it would be when you decide to pursue a new business idea with available funding. The entire process will be focused on keeping costs low. Your business plan should be focused on this. The following points are an excerpt from our blog How to Write a Business Plan (Plus Examples & Templates) with comments that should be different when starting a business with no money:
  1. Business Plan Cover Page
  2. Table of Contents
  3. Executive Summary
  4. Company Description
  5. Description of Products and Services- This section should only be a product or a service. It's hard to offer more than one until you have more money. Focus on one great minimum viable product
  6. Marketing Plan
  7. SWOT Analysis
  8. Competitor Data
  9. Competitive Analysis
  10. Marketing Expenses Strategy-This section should probably have an original strategy based on low cost or free alternatives, then plans on how to expand based on extra cash flow.
  11. Pricing Strategy
  12. Distribution Channel Assessment- At first, this will most likely be yourself, print-on-demand, or electronic distribution models. Business models that let you make more money each time you sell a single unit of work are the most scalable. Then build to a more complex distribution.
  13. Operational Plan- You'll be doing everything at first. Specify the division of your time and how the work will be delegated later
  14. Management and Organizational Strategy- Current-you, future-provide chart.
  15. Financial Statements and/or Financial Projections- Without any money whatsoever, you'll probably be starting a business slowly. Don't put insane projections like making $100k profit in the first year if you don't have clients. You might aim for that, but you'll have to invest in the business and keep up with your living expense
  16. Funding- start with what you can do without funds, then what means you'll be able to pursue funding once your business idea starts generating more revenue.

Funding

Man at with a monitor on his desk The primary ways of funding are:
  • Personal funds
  • Loan from family or friends
  • Business partner(s) – inc.com has a great blog on considerations about a partnership
  • Business loans- Check out our partners

How much money does it take to start a business?

According to Shopify, starting a business normally costs $18,000 for business owners with zero employees, while a business with up to 4 employees spends $60k during the first year. Shopify included 300 business owners in their study and found that they funded their business in the following ways:
  1. 198 used personal savings
  2. 90 reinvested revenue
  3. 69 got support from friends and family
  4. 63 got a personal loan
In other words, you'll probably need some skin in the game because bootstrapping is the number one way of starting a business. Shopify goes on to explain the percentages a business should aim to spend on various aspects of the business. They suggest the following:
  • Operations: 10%–15% - Software for managing business. This can be fairly low. For instance, Quicken is $100/year and will make keeping track of accounting easier. Cloud based services normally have free trial periods to get started.
  • Product: 28%–36%: When selling goods divide the cost by.28 to get the price you should sell for. Use Printful to make this process easier.
  • Shipping: 8%–12%=should be covered by the customer unless they spend over a certain amount.
  • Online: 9%–10%=Cost of software directly attributable to selling product
  • Marketing: 7%–12% =You or outsourced
  • Team: 14%–30%=You starting off.
I have included some observations after Shopify suggested percentages. The good news is that you'll really only need about $1,500 per month to operate for a year. Let's look at some more commonly wondered things.

Can I start a business with no money?

Sure you can! It's not as easy as if you have money, but plenty of small businesses have been started without any money. Small business owners will normally need to be in a service-based business as they generate cash flow by selling their time. We've been discussing some of these throughout.

How to start a business with no money or experience

Get some experience and while you're getting the experience save money from getting a job in the field. Now you have money and experience. That makes funding a lot easier. People or businesses might even be willing to help you secure funding at that point. You can try talking to venture capitalists, but you may find that talking to people who run a profitable business puts you at risk of them taking the idea and going to market quicker.

How to start a successful business with no money and bad credit

You'll either need to get money from friends, family, a partner, or bootstrap it. Can I suggest getting a secured credit card and paying off your debts as you can? It is really difficult to find a business you can start with no money, but it makes it even more difficult if you have bad credit. The credit card expiration is one example of bad credit that can hold you back. If you can improve your credit score, you may be able to get a business loan or credit card with a lower interest rate, which can help you save money on the cost of starting your business.

How to start a business with no money or credit

Get a secured credit card ASAP, use it to fund the business, and earn credit by paying it off each month.

Structure the business

A man at his desk using his personal computer Licensing and legal requirements are a major part of starting a business. the business will need to comply with certain requirements including:
  • Business Formation
  • Getting an EIN from the IRS
  • Getting a state/local business license
  • Unemployment Insurance
  • Workman’s Comp
Let's look at each

Business Formation

You need to establish the legal structure for your business. For best results, I'd normally recommend hiring legal representation that has experience starting a business, like an attorneyaccountant, or tax specialist. They’ll help you get your business started quickly so you can focus on other aspects of starting a business. Since you are trying to figure out how to start a business from scratch with no money, you'll probably want to bypass the lawyers. Some law schools have programs that provide people with low cost/no cost legal services. Check with your local college to see if they can help.

Licenses, permits, and tax forms

Each location has different licenses, permits, or tax forms required. Use the SBA License and Permits page to identify what your business needs. Keep reading for information on different legal structures.

Sole proprietorship

A sole proprietorship is the easiest way to start a business with no money, but the structure doesn’t protect the owner’s personal assets from legal issues. That means if something goes wrong, you could lose both your business and any personal assets you own. I would recommend this structure for the shortest time possible then upgrade to an LLC. Some places even allow free sole proprietorships. Just search starts a "sole proprietorship for free in my state". To start a sole proprietorship, fill out a special tax form called a Schedule C. Sole proprietors can also join the American Independent Business Alliance.

Limited Liability Corporation (LLC)

Three cubes with the letters LLC An LLC is the most common business structure used in the United States because the company protects the owner’s personal assets. It’s similar to partnerships and corporations but can be a single-member LLC in most states. An LLC requires a document called an operating agreement. Each state has different requirements. Here’s a link to find your state’s requirements. People may register in specific states due to the cost of doing business. Delaware and Nevada are common states to file an LLC because of their business-friendly laws. Here’s a blog on the top 10 states to get an LLC. You'll want to progress to an LLC once you have some revenue, but its not best for businesses to start with no money.

Partnerships and corporations

Partnerships and corporations are typically for massive organizations or legal firms. Unless there is a specific reason you need a partnership, it is better to do a multi-person LLC. Investopedia has good information about partnerships and corporations here. You probably won't need these, but they are good to know about.

Apply for an EIN

Every business operating in the United States needs an employer identification number. It’s like a social security number for your business. Apply for it on the IRS website. It’s used on tax forms when filing taxes and to tie employees’ pay to the proper employer. They don't cost anything so make sure to do this step.

State/Local Business Licenses

Each location has different licenses, permits, or tax forms required. Use the SBA License and Permits page to identify what your business needs. Keep reading for information on different legal structures. Most places are fairly inexpensive for most industries, but you'll need to check for your location. Avalara has a great list of sale tax license costs by state.

Unemployment Insurance

Approval of business insurance The U.S. Chamber of Commerce has a ton of information on unemployment and also offers links to each state agency that handles state unemployment. You’ll have to pay $420 per employee on a federal level plus any state UI.

Workman’s Compensation

Workman’s compensation is basically insurance against injury or disability. Each state has different requirements. Check your state requirements.

Preparing for Opening Day

Preparing for your first day in business is not going to be like most people think of where they finally have an office space. You'll either be going around to neighbors houses or working on your computer because the best business to start with little money from home is an online business. Honestly this section should really be described as how to start an online business with no money. You've got a great business idea, but now you need to figure out how great business ideas become successful businesses. You'll need to find all the tools and free resources you can find to connect to potential customers. Here's a list of some companies that offer free software; Most software providers have at least a free trial period that gives you time to set up your business online before you have to spend money. Some online advertising will also offer deals, but be careful when accepting them. I once accepted an offer for $500 for free when you spend $500. It started before I was ever given access to the account. I never got access to the account and 18 months later I got a call telling me I owed them $500 for services. Online businesses are great cause they allow you to deduct some of your living expenses like utilities, rent, and internet connection from your taxes. You get to be your own boss, and a lot of the expenses are fixed costs. From my standpoint, you definitely want to understand how to start a business with no money online. Keep reading for some tips on how to start a business without money.

Tips on How to Start a Business with NO Money

A man using his laptop at his desk Here's some extra tips about how to start an online business with no money.
  • Don't spend a lot of time on a registered trademark. It's a waste of money until you drive revenue.
  • Avoid merchant cash advances and other forms of credit with interest higher than your profit margin. They are slowly driving losses.
  • You'll probably be able to get personal loans or business cards before a small business loan. Small business loans need to be spent wisely because they aren't earned.
  • Online courses are so essential to learning business skills in today's society.
If you own tools, you might consider starting a woodworking company too. Good luck on your venture into Entrepreneurship. Let us know what type of business processes you'd like more information on .

Have you ever considered starting a business with your spouse? If so, check out these fantastic business ideas tailor-made for couples!

The concept of husband and wife business ideas has been around for a long time, and the prospect of building your dream life together is undoubtedly appealing. Let's explore some great business ideas for couples!

[su_note note_color="#dbeafc"]Click a link below to skip to the idea that interests you (and your partner!) most.

Tips for Getting Started With a Business Idea for Couples

Sid and Eva of NICASA sitting on couch holding cash and giving a thumbs up

There are numerous considerations when couples decide to start a small business together. You’ll want to:

  • Consider the initial time and financial investment required.
  • Identify activities that you both enjoy doing consistently.
  • Decide if you want immediate returns or are willing to invest in a more passive venture.
  • Combine your skills as a couple to find synergies in the business.
  • Follow your shared passions and interests.
  • Determine your preference for a location-based or online business.

Strategies for Couples to Start a Successful Business

You’ll also want to find ways to make sure that both partners feel fulfilled by the business. That means you should:

  • Ensure the business idea suits both partners' needs and interests.
  • Practice effective communication and maintain a balance between work and personal life.
  • Consider the roles you can play within the business to complement each other.

Best Online Businesses for Couples

1. Blogging: Start a blog and monetize it over time

Concept of couple working on a laptop with cash flying out of the screen

Average Annual Revenue: $46K
Average Profit Margins: 14.6%
Startup Costs: Under $100-$200
Time To Revenue: 1 month to 3 Years
Annual Market Growth Rate: -1.50%
Best for: Couples with writing, graphic design, and other content creation skills, strong marketers

A blog can be a great business venture on its own or in combination with other business ideas like a podcast, vlog, or online education business. It’s easy to get started but can take a while to build an audience and generate regular and recurring income.

One of you can write, while the other does design, or work together on everything.

Kevin Espiritu used a blog to turn his passion for gardening into a $7.3 million-a-year business. Hear his story in this podcast interview:

2. Sell Stock Photos: Create and sell unique stock photography

Average Annual Revenue: $50K
Average Profit Margins: 7.3%
Startup Costs: $1K-$10K
Time To Revenue: 1-6 months
Annual Market Growth Rate: 0.3%
Best for: Photographers, visual artists, people who want flexibility and passive income

A photography business can be a highly profitable business, and it is among the best couple business ideas to run from the side at home. There are tons of sites to sell stock photographs, including:

3. Freelance Writing: Offer content writing services

Average Annual Revenue: $46K
Average Profit Margins: 14.6%
Startup Costs: $100-$200
Time To Revenue: 1 month to 3 Years
Annual Market Growth Rate: -1.50%
Best for: Writers, editors, SEO and digital marketing experts

Writing content is a great business idea for couples who want to start their own business quickly out of their home. Just set up a profile on a freelance platform like Upwork or Fiverr and you can begin accepting clients in minutes.

4. Cleaning Service: Offer residential or commercial cleaning

Average Annual Revenue: $61K+
Average Profit Margins: 10.8%
Startup Cost: $300-$5K
Time To Revenue: 3+ months
Annual Market Growth Rate: 2.4%
Best for: Detail-oriented people with strong customer service skills, people who like physical work and don’t mind getting their hands dirty

The low investment to start a cleaning business is one thing that draws people to this niche. Demand is also strong and growing, at a rate of 6.6% each year for the last decade.

Chris Mondragon grew Queen Bee Cleaning Services to $120,000 a month in revenue from an initial investment of just $5,000. He teaches how to follow his model in his 7-Figure Cleaning Business Blueprint. You can also watch this interview with Chris to hear how he started:

[su_youtube url="https://www.youtube.com/watch?v=d4Iip7BHXwg"]

You can even start a remote cleaning business.

5. Printables: Design and sell customizable printed products

Average Annual Revenue: $1.6M
Average Profit Margins: 4.3%
Startup Cost: $500-$250K
Time To Revenue: 3+ months
Annual Market Growth Rate: -5.6%
Best for: Graphic designers and visual artists, marketing experts

An online store selling custom-printed items is among the best business ideas for creative entrepreneurs who want a passive income stream.

People buy customizable printables for a lot of reasons, from marketing swag and business gifts to favors for weddings and parties. All of those niches mean lots of potential customers for your eCommerce business.

[su_youtube url="https://youtu.be/BmYCYMAsQ8Y"]

6. Web Design: Create and manage websites for clients

Average Annual Revenue: $239K+
Average Profit Margins: 5.3%
Startup Cost: $100-$1K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 1.4%
Best for: Web developers, programmers, graphic designers, SEO experts

Every business needs a website but not all business owners can make one. If graphic design, visual layout, or coding are among your or your partner’s interests, website design is a good business idea with a low investment up-front and a lot of growth potential.

7. Virtual Assistant: Provide a wide range of online assistance

Average Annual Revenue: $35K-$50K
Average Profit Margins: 10.5%
Startup Costs: $100-$200
Time To Revenue: 1-3 months
Annual Market Growth Rate: 1.9%
Best for: Highly-organized people, excellent communicators with strong time management and problem-solving skills

Virtual assistants (VA) help busy professionals take care of day-to-day tasks, like scheduling appointments, booking travel, and similar administrative things.

Being a VA is a great online business idea because it has a low investment to start and doesn’t require any special skills. The hours are usually flexible, too, making it ideal for parents looking for business opportunities they can fit around other commitments.

8. Ads: Offer ad writing and design services for various platforms

Couple looking at a tablet

Average Annual Revenue: $817K
Average Profit Margins: 6.9%
Startup Costs: $1.8K-$16K
Time To Revenue: 1-6 months
Annual Market Growth Rate: 1.3%
Best for: Marketing experts, writers, visual artists, graphic designers, people skilled in SEO, SEM, and other digital marketing techniques

Similar to web design, creating compelling advertisements requires a unique set of skills that not all business owners have. This makes it a profitable business idea with a lot of growth potential, especially for a two-person team.

9. Vending Machine Owners: Establish or buy vending machine routes

Average Annual Revenue: $182K+
Average Profit Margins: 4.3%
Startup Cost: $2K-$10K
Time To Revenue: 3+ months
Annual Market Growth Rate: 0.5%
Best for: People who want flexibility and passive income potential, system-driven entrepreneurs

Do you ever wonder who makes money from the vending machines in workplaces, schools, and other businesses? It could be you if you start a vending business!

Vending has a high profit potential without needing a huge time investment. UpFlip’s Vending Bootcamp teaches you how to get started step-by-step. You can also watch this interview with Hill Vending founder Adam Hill to learn how he got started:

[su_youtube url="https://www.youtube.com/watch?v=-s_Y-O1nosw"]

10. Online Educational Resources: Create and sell online courses together

Average Annual Revenue: $234K+
Average Profit Margins: 5.8%
Startup Cost: $100-$1K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 1.1%
Best for: Teachers and educators, people with in-demand skills and knowledge, writers and content creators

Selling online courses lets you make a living sharing your knowledge. Creating the course takes the most work. Once you’ve made online educational resources, you can run a profitable business with little time investment.

It’s also a cheap business to start. Jacques Hopkins started his online course business with a $ 150-a-month budget, and he’s grown it to more than $40,000 a month in revenue. Hear his advice in this interview:

11. Tutoring: Offer virtual tutoring sessions in various subjects

Average Annual Revenue: $18K+
Average Profit Margins: 13.10%
Startup Cost: $100-$1K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 8.5%
Best for: Teachers and educators, excellent communicators and motivators, experts in academic subjects or test prep

Speaking of an online education business, tutoring is another of the best business ideas for couples who are educators. You can run a completely online business with virtual tutoring sessions or set up an online portal to connect with in-person students.

There are a number of tutoring platforms where you can begin accepting clients to get your business up and running. Some of the most popular include:

12. Stock Market: Manage other people’s investments

Sid and Eva managing investments from a mobile phone

Average Annual Revenue: $1.8M+
Average Profit Margins: 36.1%
Startup Cost: $500-$5K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 8.2%
Best for: financial advisors and money experts, investors and stock traders

For business partners with a background in finance, investment management is a highly profitable business idea. The people who have investments to manage tend to be high-earners, so you can easily build a client list of people willing to pay top dollar.

Bear in mind that investment advisors need to be registered with the Securities and Exchange Commission (SEC) and may also need to register with their state in order to operate legally. The SEC explains how to register on its website.

13. Consultancy business: Provide expert advice and recommendations

Average Annual Revenue: $364K
Average Profit Margins: 6.4%
Startup Costs: $1K-$3.5M
Time To Revenue: 6-18 months
Annual Market Growth Rate: 2.2%
Best for: Creative problem solvers, excellent communicators and motivators, experts in in-demand areas like marketing, human resources, and leadership

Entrepreneurs will pay top dollar for business development advice that helps them grow revenue, become better leaders, master their digital marketing, or hone other necessary skills. A couple with that expertise can make excellent business partners for a consultancy business.

The key to success is finding the right niche market. For example, Ryan Gromfin turned his experience managing five-star restaurants into a $ 35,000-a-month restaurant consulting business. Hear his advice here:

14. Coaching: Become life, business, or mindset coaches

Average Annual Revenue: $63K+
Average Profit Margins: 10.5%
Startup Costs: $500-$5K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 1.5%
Best for: Empathetic entrepreneurs, active listeners and great communicators, people with strong organization, time management, and creative problem-solving skills

Coaching can be a very profitable business to start with a business partner because you can accelerate your growth and build your client list twice as fast. You can be a coach in any area where you’re an expert, from personal organization to parenting to being a landscape and gardening consultant.

15. Digital Marketing: Offer online marketing services

Average Annual Revenue: $817K
Average Profit Margins: 6.9%
Startup Costs: $100-$10K
Time To Revenue: 1-6 months
Annual Market Growth Rate: 1.3%
Best for: social media experts, designers and content creators, data analysts, people with SEM, SEO, and similar digital marketing skills

A digital marketing agency is one of the top business ideas for couples who want high-profit potential as well as schedule flexibility. Most businesses today need an online presence, and that puts digital marketing skills in high demand.

The digital marketing firm Socialistics has grown to $500,000 a year in revenue by attracting big-name clients like the Air Force and Habitat for Humanity. Find out how they got started in this interview:

[su_youtube url="https://www.youtube.com/watch?v=kb1czTEK8f8"]

16. E-books: Write and sell e-books

Average Annual Revenue: $712K
Average Profit Margins: 14.6%
Startup Costs: $100-$200
Time To Revenue: 1 month to 3 years
Annual Market Growth Rate: -1.5%
Best for: Writers and editors, strong online marketers, couples seeking a passive income stream

Selling e-books is a very flexible business. You create the books on your own schedule then list them in an online store, which you can manage any time and from anywhere.

The tricky part about starting an e-book business is that there are a lot of them out there, so you’ll need strategies to get customer attention in a crowded market. It can help to focus on a niche market, or if you have other ways to build an audience, like through a podcast, YouTube channel, or large social media following.

17. T-Shirt Business: Design and sell custom t-shirts online

Average Annual Revenue: $147K
Average Profit Margins: 3.2%
Startup Costs: $1K-$200K
Time To Revenue: 30-90 days
Annual Market Growth Rate: 3.3%
Best for: Artists and graphic designers, strong marketers and networkers

One particularly popular custom printables niche is a print-on-demand t-shirt business. This is among the best business ideas for couples who are creative and need flexibility.

Artem Ionitsa makes $2,000,000 a year with his Logo Unlimited that prints clothing for major businesses. Find out how he started and grew his business in this interview:

[su_youtube url="https://www.youtube.com/watch?v=CJRWc1ZPCpQ"]

18. eCommerce: Sell products through a website

Average Annual Revenue: $60K-$120K
Average Profit Margins: 5-15%
Startup Costs: $100-$1K
Time To Revenue: 30-90 days
Annual Market Growth Rate: -9.3%
Best for: Makers, designers, and crafters, artists and creators, fashion and shopping lovers

You can sell just about anything with an eCommerce business. Vlad Kuksenko started TagPup with a low investment of just $500 and in two years made more than $1 million in sales. Hear how he became the #1 pet products store on Etsy in this interview:

[su_youtube url="https://www.youtube.com/watch?v=7dqHBHA4AmU"]

19. Website Flipping: Buy, enhance, and sell websites

Average Annual Revenue: $239K
Average Profit Margins: 5.30%
Startup Costs: $100-$1K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 1.40%
Best for: Web designers and developers, experts in SEO, web traffic, data analysis, or automation

Domain flipping is like a digital version of a real estate business. You purchase a website at a low price, then improve its design, functionality, and search rankings to increase its value and sell it for a profit.

After starting OneHourProfessor.com in 2014, Ron Stefanski has built a portfolio of websites that bring in $30,000 a month in revenue on average. Hear his advice on how to start a website business in this interview:

20. Podcasting: Create and monetize a podcast

Average Annual Revenue: $4M+
Average Profit Margins: 27.1%
Startup Costs: $500-$5K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 6.4%
Best for: Entertainers, skilled communicators, teachers, presenters, and content creators

Podcasting was an $18.5 billion industry in 2022, and it’s expected to grow another 27.6% by 2030. Like a blog, podcasting can be a successful business idea on its own or in tandem with other online educational resources.

Building an audience is the most challenging part of starting a podcast. Listen to this interview to learn how Entrepreneurs on Fire became one of the top business podcasts with more than 142 million listeners:

Part-Time Business Ideas for Couples

21. Junk Removal: Help clear out people’s homes and offices

Average Annual Revenue: $5.7M+
Average Profit Margins: 2.9%
Startup Costs: $100K-$3.5M
Time To Revenue: 6-18 months
Annual Market Growth Rate: 1.9%
Best for: Construction pros, couples who like physical work

Many people don’t know how to dispose of large junk like appliances and construction trash—and they don’t want to deal with it even if they do. That’s what makes junk removal a $10 billion-a-year industry and a profitable, unique business idea for couples.

22. Dog Walking: Provide pet walking services

Couple walking dogs in the park

Average Annual Revenue: $34K+
Average Profit Margins: 16%
Startup Costs: $500-$5K
Time To Revenue: 3+ months
Annual Market Growth Rate: 1.7%
Best for: Pet owners, animal lovers, people with high physical stamina who like working outdoors

Nearly 20% of American households adopted a dog during the pandemic. Now that people are being called back to the office, dog walkers are in increasingly high demand.

That demand has driven up prices. In large markets like New York, dog walkers can charge $600 or more a month per client. This gives it potential to be a highly profitable business even as a part-time venture.

Starting with a partner makes it where you can walk twice as many dogs.

23. Catering: Start your own catering business for events

Average Annual Revenue: $124K+
Average Profit Margins: 5.5%
Startup Costs: $1K-$100K
Time To Revenue: 6-18 months
Annual Market Growth Rate: 1.0%
Best for: Cooks, bakers, and foodies with strong customer service and time management skills

One drawback to most food industry businesses is the high startup cost. Starting your own catering business is one way around this issue. You can rent a commercial kitchen when you need it instead of buying your own equipment, and that means a much lower up-front investment.

A catering company also gives you more scheduling flexibility than a restaurant. You can book events only during the times you’re available, and how much work you take on is completely in your court, too.

24. Personal Training: Offer fitness coaching services

Average Annual Revenue: $16K+
Average Profit Margins: 10.9%
Startup Costs: $500-$5K
Time To Revenue: 1-6 months
Annual Market Growth Rate: 0.6%
Best for: Health and fitness experts, great motivators with strong communication skills and empathy

A personal trainer helps their clients meet their fitness goals, and you don’t need your own gym to open a fitness business. You could offer sessions from your home, at clients’ homes, or partner with a local athletics and fitness association to use their facilities.

There are also affordable opportunities to become a franchise business partner as a personal trainer or fitness business. Jazzercise franchises start at $2,500, for example, and Anytime Fitness franchises have a similarly low investment.

25. Car Wash and Detailing: Provide car washing and detailing services

Average Annual Revenue: $73K+
Average Profit Margins: 16.1%
Startup Cost: $500-$5K
Time To Revenue: 3+ months
Annual Market Growth Rate: 1.0%
Best for: Car lovers, detail-oriented entrepreneurs who like working with their hands

More than 91% of households in the United States own a car, and about 22% own three or more. This makes businesses related to car maintenance a smart move.

A mobile business is often a better side hustle than a brick-and-mortar, with both a lower upfront cost and more schedule flexibility. Seattle Mobile Detailing was started by business partners with just $300 and now grosses $40,000 a month. Learn how they got started in this interview:

[su_youtube url="https://www.youtube.com/watch?v=Rk4L1O2b84Q"]

26. Horticulture: Grow plants for nurseries

Young couple inspecting a potted plant in a large greenhouse

Average Annual Revenue: $262K+
Average Profit Margins: 5.4%
Startup Costs: $100K-$3.5M
Time To Revenue: 6-18 months
Annual Market Growth Rate: 2.8%
Best for: Gardeners and plant experts, people who love working outside

You don’t need a huge plot of land to start a flower or herb farm. A rose, sunflower, or lavender farming business are outstanding couple business ideas for those with unused yard space and green thumbs.

27. Resume Writing: Write professional resumes and LinkedIn profiles

Average Annual Revenue: $46K
Average Profit Margins: 5.8%
Startup Cost: $500-$5K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 1.1%
Best for: Human resources professionals, writers and editors, people with recruiting or hiring experience

A well-written resume is key to a successful job search, and a strong LinkedIn profile can be just as important. It’s typical to charge $200-$400 for a mid-career resume, while executive resumes command prices of $700 or more.

That’s not bad for a one-to-two-page document and makes a very lucrative part-time business for a couple with career expertise.

28. Personal Shopping: Assist clients with personal shopping needs

Average Annual Revenue: $37K+
Average Profit Margins: 1.9%
Startup Cost: $100-$1K
Time To Revenue: 3+ months
Annual Market Growth Rate: 10.5%
Best for: Strong communicators, people who are patient, organized, and empathetic with a sharp eye for detail and good decision-making skills

As a personal shopper, you get clients the things they need—even when they’re not quite sure what those are. The guidance personal shoppers give is what differentiates them from a virtual assistant or delivery service and makes it a more profitable business.

29. Handyperson: Offer general handyman services

Average Annual Revenue: $204K+
Average Profit Margins: 5.4%
Startup Costs: $500-$5K
Time To Revenue: 3+ months
Annual Market Growth Rate: 0.7%
Best for: Contractors and skilled trade workers, people who like working with their hands and have good communication and customer service skills

Every homeowner needs repairs now and then, and they don’t always have the time or skills to make them. This is a great business idea for a two-person team because you can do more work faster, making for happy customers and higher profits.

It doesn’t take much to start a handyperson business. Find out how Caleb Ingraham started his $ 25,000-a-month business in this interview:

[su_youtube url="https://www.youtube.com/watch?v=leUta_q_MPQ"]

30. Interior Painting and Wallpapering: Provide interior painting and wallpapering services

Average Annual Revenue: $76K+
Average Profit Margins: 7.2%
Startup Costs: $1K-$100K
Time To Revenue: 6-18 months
Annual Market Growth Rate: -2%
Best for: Construction and home repair professionals, painters and designers, people who like physical work, detail-oriented and process-driven entrepreneurs

Painting and wallpapering are among the best business ideas for couples who want to stay active and make money together. The mess and labor involved in painting houses is why many customers pay for a service.

It takes a surprisingly low investment to start a house painting business. Joshua Douglass only invested about $6,000 to start A Painter’s Touch, and today it makes around $25,000 a month. Hear his story in this interview:

31. Party Planner: Plan and coordinate events for clients

Average Annual Revenue: $34K+
Average Profit Margins: 12.2%
Startup Costs: $500-$5K
Time To Revenue: 3+ months
Annual Market Growth Rate: 1%
Best for: Organized and outgoing people with strong creative problem-solving, time management, and customer service skills

A wedding planning business is the best-known niche in event planning, but that’s far from the only option. From family reunions and celebrations to corporate events, there are a lot of ways to profit from your party planning skills.

32. Paint Wall Murals: Create artistic murals for customers

Average Annual Revenue: $76K+
Average Profit Margins: 7.20%
Startup Costs: $1K-$100K
Time To Revenue: 6-18 months
Annual Market Growth Rate: -2.00%
Best for: Painters and visual artists, designers, creative people who like physical work

An eye-catching mural can be a great draw for customers to a business, or bring a unique touch to a home. Mural artists typically charge $10-$20 per square foot, which can put this among the most profitable business ideas for a creative side hustle.

With the right equipment, you don’t need to be an artist to make money from murals. Paul Baron started a business in vertical printing with The Wall Printer. Find out more in his podcast interview.

Two-Person Team Start-Ups: Profitable Business Ideas for Couples

33. Pinterest Account Manager: Manage Pinterest accounts for businesses

Average Annual Revenue: $42K to $208K
Average Profit Margins: 6.9%
Startup Costs: $1.8K-$16K
Time To Revenue: 1-6 months
Annual Market Growth Rate: 1.3%
Best for: Social media experts, photographers and graphic designers, organized and creative entrepreneurs

Pinterest is a popular platform for anyone running a food business, clothing shop, or cosmetic line as well as others who have visually compelling products to sell. The average Pinterest Virtual Assistant makes about $500 a month per client or up to $100 per hour, but you can certainly make more than that as a skilled Pinterest manager.

One of you can find clients while the other one manages the Pinterest accounts.

34. Subscription Box Service: Curate niche subscription boxes

Average Annual Revenue: $60K to $120K
Average Profit Margins: 5-15%
Startup Costs: $100-$10K
Time To Revenue: 30-90 days
Annual Market Growth Rate: 16.5%
Best for: Data experts, people tuned in to trends, strong marketers and salespeople, people with specialized product niche expertise

A subscription business is a fantastic business model because you earn regular and recurring income by default.

Any type of consumable product can be part of a subscription box, from healthy snacks to on-trend clothes, shoes, or makeup. Whatever your or your partner’s interests, you can start a successful business curating monthly goodie boxes for other fans of that niche.

35. Local Guides: Offer guided tours and experiences in your area

Average Annual Revenue: $995K+
Average Profit Margins: 6.6%
Startup Cost: $500-$5K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 3.5%
Best for: Friendly, outgoing couples with excellent communication skills, actors and performers, people with niche knowledge about their local area

This is a fantastic business idea for couples who are active in their local community or have unique expertise in the history, culture, wildlife, or other aspects of their region.

You could give general tours or niche down. If you’re plugged into the local food scene, for instance, you can market to tourists and food lovers who flock to food truck tours and brewery crawls.

36. Adventure Tourism: Get people out and exploring

Couple leading backpacking group

Average Annual Revenue: $995K+
Average Profit Margins: 6.6%
Startup Cost: $500-$5K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 3.5%
Best for: Adventurous and outgoing entrepreneurs with strong marketing and communication skills

People love experiencing new things, and you can offer that as business partners in the adventure tourism niche.

Jonathan Newar started Captain Experiences in 2020 to do just that and has already grown the business to $100,000 a month in revenue. Hear his story in this interview:

37. Eco-Friendly and Chemical-Free Makeup and Beauty Products: Produce natural cosmetics and self-care products

Average Annual Revenue: $11.5M+
Average Profit Margins: 5.7%
Startup Costs: $500-$250K
Time To Revenue: 3+ months
Annual Market Growth Rate: 1.2%
Best for: Makeup artists, stylists, and other fashion and beauty experts with strong sales and creative problem-solving skills

Cosmetics is the third-largest segment of the U.S. beauty industry, projected to bring in $20.13 billion in revenue in 2024. Natural and chemical-free products are a growing niche within this sector and can be very profitable as either a brick-and-mortar store or eCommerce business.

38. Meal Prep Business: Prepare and deliver healthy meals

Average Annual Revenue: $41K+
Average Profit Margins: 6.4%
Startup Cost: $1K-$100K
Time To Revenue: 3+ months
Annual Market Growth Rate: 1.2%
Best for: Cooks, chefs, and other restaurant industry pros with strong time management and organization skills

Meal delivery services spiked in popularity during the pandemic and that trend shows no signs of reversing. You can offer meal delivery services as a subscription business for recurring revenue, too, or home in on a niche like office food delivery.

39. Food or Grocery Delivery Business: Deliver prepared food or groceries

Couple curating a box of fresh produce, eggs, and baguette

Average Annual Revenue: $31K
Average Profit Margins: 3.6%
Startup Cost: $100-$9.5K
Time To Revenue: 3+ months
Annual Market Growth Rate: 6.7%
Best for: Organized and system-focused entrepreneurs with strong sales, marketing, and customer service skills

If you like the idea of a meal delivery service business but aren’t much of a cook, you can start your own business delivering groceries or food from other restaurants. While these services are in demand, you will be competing with heavy hitters like Uber Eats and DoorDash, which is the main challenge of getting started.

Adam Haber started Trellus Local Delivery to help small businesses. While Trellus delivers more than just food, you can follow a similar model for meal delivery services. Hear his story in this interview:

40. Interior Design for Small Businesses: Provide interior design for office or retail spaces

Average Annual Revenue: $168K+
Average Profit Margins: 10.6%
Startup Costs: $1K-$100K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 1.2%
Best for: Designers and artists who are excellent communicators, networkers, and salespeople

If you’re looking for business ideas for couples with a low investment, service-based niches like a design business can be a perfect fit.

Building a client base is often the hardest part of getting started. One option is to provide free services in exchange for referrals or reviews and to establish portfolio of past work to show potential customers.

41. Organizing Business: Help clients declutter and organize their spaces

Average Annual Revenue: $168K+
Average Profit Margins: 10.6%
Startup Cost: $1K-$100K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 1.2%
Best for: Organized, system-driven, and empathetic entrepreneurs who are good communicators and motivators

Another low-investment service business, professional organizing services work with clients to bring order to the chaos of life. This can range from decluttering a home to helping busy professionals organize their workspaces, and it’s among the top business ideas for couples who thrive on systems and order.

42. Travel Photography: Sell beautiful photos of your favorite places

Photographers working in a studio

Average Annual Revenue: $44K
Average Profit Margins: 7.30%
Startup Cost: $5K-$15K
Time To Revenue: 3+ months
Annual Market Growth Rate: 0.3%
Best for: Artists, photographers, and creative couples

A photography business in the travel niche lets you take your business on the road wherever you want to go. You can sell your images as prints in an online store, sell them as stock photos, or work with clients like news sources and travel guides.

43. Translator: Leverage your bilingual- or multilingualism

Average Annual Revenue: $75K-$200K
Average Profit Margins: 12.4%
Startup Cost: $100-$200
Time To Revenue: 1-3 months
Annual Market Growth Rate: 1.2%
Best for: People who speak multiple languages, excellent communicators with strong problem-solving skills

While AI-driven translation apps are functional for travelers, there is still a high need for professional translators in the global economy. The most in-demand languages include Spanish, German, Russian, and Mandarin (and bonus points if you speak three or more).

44. Handmade Jewelry, Candles, or Soap: Craft and sell handmade products

Average Annual Revenue: $60K-$120K
Average Profit Margins: 5-15%
Startup Costs: $100-$10K
Time To Revenue: 30-90 days
Annual Market Growth Rate: -9.3%
Best for: Artisans, crafters, and artists with strong sales, marketing, and customer service skills

There are lots of ways to start a handcrafted soap, artisanal candle, or handmade jewelry business. While it’s fastest to start as an eCommerce business, you can supplement those sales with a festival or farmers market stall, or even get your own storefront as the business grows.

Check out this interview with Blk Sunflower to learn how Jazmin Richards made $300,000 in 18 months selling handmade candles:

[su_youtube url="https://www.youtube.com/watch?v=UzZ5aTbiLh0"]

Small Businesses for Couples to Start

45. Coffee Shop or Coffee Industry Business

Average Annual Revenue: $865K+ (Starbucks makes this number sky high)
Average Profit Margins: 5.8%
Startup Costs: $1K-$100K
Time To Revenue: 3+ months
Annual Market Growth Rate: 1.2%
Best for: Baristas and coffee experts who excel at customer service

A coffee shop provides more than a caffeine fix. It’s also a gathering place for the community, making it a great business idea for couples who love meeting and talking to new people (and, of course, love coffee).

Starting a coffee shop can require a big startup investment. One way to get into the coffee industry for a lower price is with a coffee stand. You can expand that into a sit-down coffee shop as the business grows. Learn how Sandy Edin started a $24,000-a-month coffee stand in this interview:

[su_youtube url="https://www.youtube.com/watch?v=HvQt2wbj7DE"]

46. Childcare

Average Annual Revenue: $143K+
Average Profit Margins: 0.9%
Startup Costs: $0-$1K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 51.7%
Best for: Parents, babysitters, people who love kids and are outgoing, patient, and good multi-taskers

A childcare business is among the best business ideas for couples who are parents themselves. You already have the skills to take care of kids—and this is one way to make a profit from them!

That’s what led Kristy Bickmeyer to start Twinkle Toes Nanny Agency, and she’s now grown it to 20 locations across five states. Hear how she got started here:

47. Bakery or Cake Shop

Average Annual Revenue: $1.95M
Average Profit Margins: 5.4%
Startup Costs: $100-$3M
Time To Revenue: 1-6 months
Annual Market Growth Rate: 1.1%
Best for: Cooks, chefs, bakers, or foodies with customer service, leadership, and marketing skills

Bakeries are among the most popular types of food retail business—who doesn’t love tasty cookies, cakes, and pastries?

While bakeries often have a high startup cost, they don’t have to. One option is to start as a bakery catering business, then expand into a storefront as the business grows. That’s how Mignon Francois turned $5 into a $10 million cupcake business. Hear her story in this interview:

[su_youtube url="https://www.youtube.com/watch?v=jmviDvmh5js"]

48. Boat, Bike, or Car Rentals

Average Annual Revenue: $285K+
Average Profit Margins: 6.8%
Startup Costs: $100K-$3.5M
Time To Revenue: 6-18 months
Annual Market Growth Rate: 2.0%
Best for: Mechanics and vehicle repair pros with excellent sales, marketing, and customer service skills

Vehicle rental services are fantastic couples business ideas for people with a passion for cars, boats, or bikes. While it helps to have some repair or maintenance skills, all you really need to get started is an inventory of vehicles and a way to connect with customers.

Legends Car Rentals makes $175,000 a month, so you can definitely make a lot of profit in this niche. Hear how they started in this interview:

[su_youtube url="https://www.youtube.com/watch?v=W_01eckETe0"]

49. Doggy Daycare

Average Annual Revenue: $73K+
Average Profit Margins: 11.5%
Startup Costs: $1K-$100K
Time To Revenue: 3+ months
Annual Market Growth Rate: 1.1%
Best for: Animal lovers and owners, patient and personable entrepreneurs with strong customer service skills

Busy professionals and families sometimes need a hand watching their pets. You can solve that problem by opening a kennel or doggy daycare. If you love the idea of spending your days caring for dogs, this could be the perfect business for you!

50. Food Truck

Average Annual Revenue: $41K+
Average Profit Margins: 6.4%
Startup Cost: $1K-$100K
Time To Revenue: 3+ months
Annual Market Growth Rate: 1.2
Best for: Cooks and food industry professionals who are excellent at marketing and customer service

It takes a lot to keep an entire restaurant afloat. The comparatively low investment and greater schedule flexibility are why food trucks are a popular alternative.

The food truck industry is crowded in some markets, which can make it challenging to attract customers. Learn how Aybla Grill started and grew their food truck business in this interview:

[su_youtube url="https://www.youtube.com/watch?v=Qi_RBWualJ8"]

51. Bookkeeping and Accounting

Average Annual Revenue: $206K+
Average Profit Margins: 13.9%
Startup Costs: $500-$5K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 1.6%
Best for: Accounting, math, and business professionals, detail-oriented entrepreneurs

While you need to be licensed to operate as a CPA, you don’t need that credential to start a bookkeeping service. For math and accounting pros, this is a solid business idea with a low investment to start. That said, this is another area you may need to provide free services to build a reputation and client trust.

52. Rental or Airbnb Property Management

Average Annual Revenue: $372K+
Average Profit Margins: 10.1%
Startup Cost: $100K-$3.5M
Time To Revenue: 6-18 months
Annual Market Growth Rate: 1.3%
Best for: Real estate and construction professionals who are organized and strong customer service skills

A property management business is among the best low-investment business opportunities in real estate.

One niche market with especially high demand is Airbnb management. NICASA makes $3 million a year as an Airbnb business, and a lot of that comes from managing other people’s properties. Hear founders Sid and Eva’s advice and story in this interview:

[su_youtube url="https://www.youtube.com/watch?v=6m-MosXlpOE"]

53. Consignment Shop

Average Annual Revenue: $60K-$120K
Average Profit Margins: 5-15%
Startup Costs: $100-$10K
Time To Revenue: 30-90 days
Annual Market Growth Rate: -9.3%
Best for: Fashion and style experts who are excellent negotiators and communicators

Starting a consignment shop lets you open a retail business without worrying about providing your own inventory. Instead, you earn a commission selling other people’s products, saving you lots of hassle, cost, and risk.

Clothing and art are among the most popular niches for consignment, but you can start this kind of business with any type of products.

54. Boutique Retail Business

Average Annual Revenue: $114K+
Average Profit Margins: 10.3%
Startup Costs: $500-$250K
Time To Revenue: 3+ months
Annual Market Growth Rate: 2.0%
Best for: Designers, artists, and fashion experts with strong marketing and customer service skills

If you’d rather make and sell your own clothes, a boutique retail business could be your perfect fit. Learn how Urbanity grew to $102,000 in monthly revenue in this interview:

[su_youtube url="https://www.youtube.com/watch?v=_wUc28d8KkE"]

55. IT Support

Average Annual Revenue: $35K-$50K
Average Profit Margins: 10.5%
Startup Costs: $100-$200
Time To Revenue: 1-3 months
Annual Market Growth Rate: 1.9%
Best for: Tech-savvy couples who are patient and have excellent communication skills

Sometimes, it’s not the device that needs to be repaired—it’s the user who needs help using it. Online businesses in IT support are especially great for business partners since it doubles how many customers you can help (and people who need IT support are likely internet users already).

56. eBay Selling Business

Average Annual Revenue: $60K-$120K
Average Profit Margins: 5-15%
Startup Cost: $100-$10K
Time To Revenue: 30-90 days
Annual Market Growth Rate: -9.3%
Best for: Shoppers, thrifters, and antiquers who are good marketers, negotiators, and salespeople

An eCommerce business as a reseller is among the easiest online businesses to start. If you’re strapped for cash, you can even take your initial inventory from things you already own.

Mike Wilson started with about $1,000 in inventory and has grown to a revenue of $30,000 a month selling on eBay. Hear his story here:

57. Electronics Repair

Average Annual Revenue: $560K+
Average Profit Margins: 5.7%
Startup Costs: $500-$5K
Time To Revenue: 1-3 months
Annual Market Growth Rate: 1.4%
Best for: Tech and repair professionals with a sharp eye for details

Electronics repair is among the most profitable business ideas for couples who are tech-savvy. You can get started for cheap, too. Joe’s Electronics Repair is a seven-figure business that was started with just $45. Find out how in this interview:

[su_youtube url="https://www.youtube.com/watch?v=Rqce8NAZWYw"]

58. Flower Shop

Average Annual Revenue: $262K+
Average Profit Margins: 5.4%
Startup Costs: $100K-$3.5M
Time To Revenue: 6-18 months
Annual Market Growth Rate: 2.8%
Best for: Designers, artists, and creative people with a green thumb and excellent customer service

Flowers are a go-to gift for just about any situation. If you don’t want the costs of a brick-and-mortar, you can open a business stand, sell at a local farmers market, or open an online store.

Stemistry started online and grew into a brick-and-mortar—and the owner’s still a teenager! Find out how it started in this interview:

59. Auto Repair

Average Annual Revenue: $268K+
Average Profit Margins: 6.1%
Startup Costs: $1K-$100K
Time To Revenue: 1-3 months
Annual Market Growth Rate: -0.8%
Best for: Mechanics and repair pros, car experts who are good communicators

People rely on their cars and they’re keeping their cars longer, too. That means more demand for businesses related to car maintenance and repair.

A repair shop will need a fairly high investment. Lucky’s Auto Repair cost about $20,000 to start. Find out how they grew that investment into a lucrative business in this interview:

[su_youtube url="https://www.youtube.com/watch?v=chhmCdYt0iQ"]

Which Business for Couples Will You Choose?

There are plenty of small businesses to start as a couple. Consider both of your skills and interest and choose the one that works for you. Which will you start?


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