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7 Business Plan Examples to Inspire Your Own (2024)

Need support creating your business plan? Check out these business plan examples for inspiration.

Any aspiring entrepreneur researching how to start a business will likely be advised to write a business plan. But few resources provide business plan examples to really guide you through writing one of your own.

Here are some real-world and illustrative business plan examples to help you craft your business plan .

7 business plan examples: section by section

The business plan examples in this article follow this template:

Executive summary. An introductory overview of your business.
Company description. A more in-depth and detailed description of your business and why it exists.
Market analysis. Research-based information about the industry and your target market.
Products and services. What you plan to offer in exchange for money.
Marketing plan. The promotional strategy to introduce your business to the world and drive sales.
Logistics and operations plan. Everything that happens in the background to make your business function properly.
Financial plan. A breakdown of your numbers to show what you need to get started as well as to prove viability of profitability.
Executive summary

Your executive summary is a page that gives a high-level overview of the rest of your business plan. It’s easiest to save this section for last.

In this free business plan template , the executive summary is four paragraphs and takes a little over half a page:

A four-paragraph long executive summary for a business.

Company description

You might repurpose your company description elsewhere, like on your About page, social media profile pages, or other properties that require a boilerplate description of your small business.

Soap brand ORRIS has a blurb on its About page that could easily be repurposed for the company description section of its business plan.

You can also go more in-depth with your company overview and include the following sections, like in the example for Paw Print Post:

Business structure. This section outlines how you registered your business —as an LLC , sole proprietorship, corporation, or other business type . “Paw Print Post will operate as a sole proprietorship run by the owner, Jane Matthews.”
Nature of the business. “Paw Print Post sells unique, one-of-a-kind digitally printed cards that are customized with a pet’s unique paw prints.”
Industry. “Paw Print Post operates primarily in the pet industry and sells goods that could also be categorized as part of the greeting card industry.”
Background information. “Jane Matthews, the founder of Paw Print Post, has a long history in the pet industry and working with animals, and was recently trained as a graphic designer. She’s combining those two loves to capture a niche in the market: unique greeting cards customized with a pet’s paw prints, without needing to resort to the traditional (and messy) options of casting your pet’s prints in plaster or using pet-safe ink to have them stamp their ‘signature.’”
Business objectives. “Jane will have Paw Print Post ready to launch at the Big Important Pet Expo in Toronto to get the word out among industry players and consumers alike. After two years in business, Jane aims to drive $150,000 in annual revenue from the sale of Paw Print Post’s signature greeting cards and have expanded into two new product categories.”
Team. “Jane Matthews is the sole full-time employee of Paw Print Post but hires contractors as needed to support her workflow and fill gaps in her skill set. Notably, Paw Print Post has a standing contract for five hours a week of virtual assistant support with Virtual Assistants Pro.”

Your mission statement may also make an appearance here. Passionfruit shares its mission statement on its company website, and it would also work well in its example business plan.

Market analysis

The market analysis consists of research about supply and demand, your target demographics, industry trends, and the competitive landscape. You might run a SWOT analysis and include that in your business plan.

Here’s an example SWOT analysis for an online tailored-shirt business:

A SWOT analysis table showing strengths, weaknesses, opportunities and threats

You’ll also want to do a competitive analysis as part of the market research component of your business plan. This will tell you who you’re up against and give you ideas on how to differentiate your brand. A broad competitive analysis might include:

Target customers
Unique value add or what sets their products apart
Sales pitch
Price points for products
Shipping policy
Products and services

This section of your business plan describes your offerings—which products and services do you sell to your customers? Here’s an example for Paw Print Post:

An example products and services section from a business plan

Marketing plan

It’s always a good idea to develop a marketing plan before you launch your business. Your marketing plan shows how you’ll get the word out about your business, and it’s an essential component of your business plan as well.

The Paw Print Post focuses on four Ps: price, product, promotion, and place. However, you can take a different approach with your marketing plan. Maybe you can pull from your existing marketing strategy , or maybe you break it down by the different marketing channels. Whatever approach you take, your marketing plan should describe how you intend to promote your business and offerings to potential customers.

Logistics and operations plan

The Paw Print Post example considered suppliers, production, facilities, equipment, shipping and fulfillment, and inventory.

Financial plan

The financial plan provides a breakdown of sales, revenue, profit, expenses, and other relevant financial metrics related to funding and profiting from your business.

Ecommerce brand Nature’s Candy’s financial plan breaks down predicted revenue, expenses, and net profit in graphs.

A sample bar chart showing business expenses by month

It then dives deeper into the financials to include:

Funding needs
Projected profit-and-loss statement
Projected balance sheet
Projected cash-flow statement

You can use this financial plan spreadsheet to build your own financial statements, including income statement, balance sheet, and cash-flow statement.

Types of business plans, and what to include for each

A one-page business plan is meant to be high level and easy to understand at a glance. You’ll want to include all of the sections, but make sure they’re truncated and summarized:

Executive summary: truncated
Market analysis: summarized
Products and services: summarized
Marketing plan: summarized
Logistics and operations plan: summarized
Financials: summarized

A startup business plan is for a new business. Typically, these plans are developed and shared to secure outside funding . As such, there’s a bigger focus on the financials, as well as on other sections that determine viability of your business idea—market research, for example.

Market analysis: in-depth
Financials: in-depth

Your internal business plan is meant to keep your team on the same page and aligned toward the same goal.

A strategic, or growth, business plan is a bigger picture, more-long-term look at your business. As such, the forecasts tend to look further into the future, and growth and revenue goals may be higher. Essentially, you want to use all the sections you would in a normal business plan and build upon each.

Market analysis: comprehensive outlook
Products and services: for launch and expansion
Marketing plan: comprehensive outlook
Logistics and operations plan: comprehensive outlook
Financials: comprehensive outlook

Feasibility

Your feasibility business plan is sort of a pre-business plan—many refer to it as simply a feasibility study. This plan essentially lays the groundwork and validates that it’s worth the effort to make a full business plan for your idea. As such, it’s mostly centered around research.

Set yourself up for success as a business owner

Building a good business plan serves as a roadmap you can use for your ecommerce business at launch and as you reach each of your business goals. Business plans create accountability for entrepreneurs and synergy among teams, regardless of your business model .

Kickstart your ecommerce business and set yourself up for success with an intentional business planning process—and with the sample business plans above to guide your own path.

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Business plan examples FAQ

How do i write a simple business plan, what is the best format to write a business plan, what are the 4 key elements of a business plan.

Executive summary: A concise overview of the company's mission, goals, target audience, and financial objectives.
Business description: A description of the company's purpose, operations, products and services, target markets, and competitive landscape.
Market analysis: An analysis of the industry, market trends, potential customers, and competitors.
Financial plan: A detailed description of the company's financial forecasts and strategies.

What are the 3 main points of a business plan?

Concept: Your concept should explain the purpose of your business and provide an overall summary of what you intend to accomplish.
Contents: Your content should include details about the products and services you provide, your target market, and your competition.
Cashflow: Your cash flow section should include information about your expected cash inflows and outflows, such as capital investments, operating costs, and revenue projections.

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How to come up with unique product ideas for your small business

One of the toughest jobs while starting your business is figuring out a unique product to set yourself apart from the competition. The product should be unique yet appealing, solving your target audience’s problem.

If you are selling a popular and widely available product, keep in mind that its demand would be high. But with high demand comes a competitive market with more established companies.

For this reason, you should come up with original and unique products that no other company provides. Creativity and innovation are the keys to generating unique product ideas that separate small businesses from their competition.

This article delves into some unique and creative ideas for your small business. Read this article to learn how to develop new product ideas for your small business and attract an audience with your innovation.

Ways to Come Up with Unique Product Ideas for Your Small Business

First, you need to discover how to foster creativity and innovation for unique product ideas as a small business owner or entrepreneur. Get practical tips for understanding customer needs and growing market trends here .

Stand out from competitors by thinking outside the box. Find inspiration from examples of small businesses with unique products, and unleash your entrepreneurial spirit to develop innovative offerings.

These tips will help you to stand out from the typical market and appeal to your audience. Furthermore, here are some steps that help individuals to find a unique product for their small business.

Look for Your Customer’s Need

Read more: how to maximize your reach and conduct high-quality market research.

The foundation of all successful product ideas is understanding the needs and wants of your target audience.

Therefore, conduct thorough market research, gather customer feedback, and identify the pain points that could be solved with your product. Understand your customer’s preferences and create solutions that resonate with them.

Observe the Market Trends

Every small business owner needs to monitor market trends to stay relevant and innovative. Keep yourself informed about industry development, new technologies, and changing consumer preferences.

Creating a product that aligns with the market trends can help your business be a dynamic player in the current market.

Encourage Creativity Among Your Team

Innovation thrives in an environment that fosters creativity. Encourage your team to share their ideas and collaborate in brainstorming sessions.

Understand the value of diverse perspectives and create a culture where everyone feels comfortable contributing their unique insights.

Listen to Customer Feedback

Your customers are an invaluable source of inspiration. Actively listen to their feedback and take note of their suggestions. Feedback can provide ideas for new features, product improvements, or new product lines catering to unmet needs.

Conduct Idea Generation Sessions

Set aside dedicated time for idea-generation sessions within your team. Create an atmosphere that encourages open discussions and welcomes unconventional ideas.

Watch now: How to differentiate your brand from your competitors — Greg Monaco | Fearless Brands

Use creativity-enhancing techniques like mind mapping, role-playing, or scenario-based creativity to spark innovation.

Observe Your Competitors

While being unique is essential, analyzing your competitors can provide valuable insights. Identify gaps in the market that your competitors might have overlooked.

Look for opportunities to improve existing products or create complementary offerings that set your business apart.

Explore Niche Markets

Identify niche markets or underserved customer segments that align with your business’s strengths. Catering to a niche market can help you establish a loyal customer base and differentiate your products from mass-market offerings.

Consider Sustainability and Social Impact

Consumers are increasingly conscious of environmental and social issues. Consider developing products that align with sustainability principles or support a social cause.

This commitment to responsible business practices can enhance your brand reputation and attract like-minded customers.

Final Thoughts

Small businesses should nurture creativity and innovation if they are to come up with original product concepts that distinguish them from rivals. By understanding customer needs and leveraging market trends, entrepreneurs can unlock their potential for growth and success.

Small business owners can unleash their entrepreneurial spirit, find novel ideas that fascinate customers, and advance their companies by fusing practical techniques with creative thinking.

We hope this article will provide some ways and techniques to develop new product ideas for your business.

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40 Unique Business Ideas to Discover Your Niche in 2024

Last Updated On : April 12, 2024

Unique business ideas keep you awake at night? Imagine being your own boss and pursuing your passion.

This article presents 40 distinct business ideas, offering you a range of options for starting your own venture in 2024.

Whether for a career change or a side hustle, these niche ideas are here to inspire.

Discover What Sets Apart Unique Business Ideas

Unique business ideas stand out through their creativity, innovation, and ability to solve market gaps. They're characterized by simplicity, cost-effectiveness, and scalability .

While there are no limits to the types of businesses you can start and build for yourself, there are a few consistent factors or elements to all successful businesses. These include:

A unique product or service: Think outside the box and come up with something that no one else is offering.
A clear demand in the market: Make sure that your business idea is something people want or need. There should be a strong customer base for your idea.
An untapped market: Avoid saturated markets and find an underserved niche with little to no competition that you can fill with your unique business idea.
Low barriers to entry: A good business idea should be relatively easy to start and maintain.
Unique features: Add features that make your product or service stand out from the competition.
A sustainable business model: Put together a sound business model or plan that shows how you'll make money. Ensure your idea is financially viable.
Innovative marketing strategies: Showcase your brand in the best light using the best marketing strategies . How you present your products or services will set your business apart from the competition.
Scalable: Think big and make sure that your business idea has potential for growth and scalability in the long run. For instance, you can expand your business online to start selling in different geographical locations.

When brainstorming unique business ideas, it’s important to focus on these areas mentioned above.

Unique Small Business Ideas for First-Time Entrepreneurs That Require Minimal Investment

Many of the successful business owners you see today started small with fewer resources and budgets. Early-stage investment has weakened further in Q3 of 2023 in North America.

early-stage investment for startups in north america

You can start certain businesses with minimal investment and resources and still turn them into profitable ventures. Here are a few cool business ideas to start:

1. Freelance Services

Freelancing has become a lucrative business idea as it requires minimal or no initial investment.

Whether you’re a writer, developer, interior designer, or digital marketing professional, it’s extremely easy to start offering your services online.

Here’s what you need to start a freelance business online:

A niche market
The right skills and experience in your field
Online portfolio to showcase your expertise
Tools and resources to deliver services
Good communication, networking, and project management skills
Existing clientele who can vouch for your services will be an advantage!

Freelancing is one unique business idea that gives you the flexibility to choose your own projects and work hours, and be your own boss!

You can sign up on platforms like Fiverr and Upwork or sell your services through your own website.

2. Pet Services

Since the demand for pet services is increasing, you can tap into this market and provide pet owners with a convenient way to take good care of their furry friends.

You can offer pet sitting, grooming, or walking services to pet owners in your area. All you need is a love and passion for pets, basic knowledge about pet care, and the right tools (like bags, leashes, etc.) to get started.

As a pet sitter, you can charge an average of $10-$25 per hour, $20-$30 per day, or $45-$75 for an overnight stay.

These rates will depend on a number of factors, including:

Your service location
The length of your stay
The frequency of your visits
The scope of work
Any special pet services needed such as obedience training or medical care
Your professional experience in pet sitting or pet training

You can also offer pet grooming services like hair cutting, brushing, bathing, nail trimming, ear cleaning, and teeth brushing at extra cost.

Other popular pet services you may include are pet photography, spa services, and special treatments like flea baths. You’ll need to be trained in proper safety and sanitation procedures for each of the treatments you offer.

An average pet groomer makes $25/hour in the United States, which can amount to an average of $50K-$60K per year.

To offer pet services, you’ll also need to be a people person as pet owners rely heavily on their groomers for advice and feedback on their pet’s care.

3. Landscaping Business

The next one on our list of unique business ideas is a landscaping or lawn care business. It is a booming industry in the U.S. that totaled almost $130 billion in 2022.

If you want to work for yourself and enjoy gardening and being outdoors, starting a landscaping business can be a good idea for you.

You’ll need to:

Understand the basics of landscaping and lawn care.
Conduct market research.
Define your services – lawn mowing and maintenance, gardening, design, shrub pruning and removal, irrigation, etc.
Rent or buy your landscaping equipment, including trucks, trailers, lawn mowers, edgers, weed eaters, etc.

4. Home Cleaning Services

If you’re looking for an easy business to start that requires minimal investment, home cleaning is another great option. That’s because cleaning is one of the most tiring jobs and most working professionals don’t have time for doing it.

All you need is the right equipment like dust mops, vacuum cleaners, and other cleaning supplies to get started.

You can offer one-time deep cleans or regular cleaning services to busy homeowners or renters.

Other home cleaning services include:

Kitchen cleaning
Bathroom cleaning
Balcony cleaning
Daily house cleaning services
Carpet cleaning
Window cleaning
Sofa cleaning
Roof washing
Wall stains removal

You can charge an average of $90-$120 for cleaning areas under 1,000 square feet , depending on the type of cleaning service required and the service location.

For example, offering cleaning services in New York will give you the opportunity to earn more money than you’d make in Michigan.


Hourly rate of 1 cleaner	$20-$50
1-bedroom home cleaning	$60–$100
2-bedroom home cleaning	$100–$180
3-bedroom home cleaning	$135–$210
1 bathroom cleaning	$70-$170
Window cleaning	$10-$15
Carpet cleaning	$75-$200
Cabinets cleaning (bathroom/kitchen)	$10-$50 per cabinet
Refrigerator cleaning	$12-$50
Oven cleaning	$15-$35
Daily house cleaning services	$1200-$2500 per month
Weekly cleaning services	$75-$90 per visit
Deep cleaning	$200-$400
Move-out cleaning	$200-$400

This business idea allows you to start small and scale up your operations as demand increases. You can get more cleaning professionals on board when you get more cleaning contracts.

5. Online Coaching and Tutoring Services

With the world depending more on technology to provide education, online coaching and tutoring have become popular options in recent years.

All you need to get started with online tutoring is:

A good internet connection
Basic knowledge about your field of expertise
Some great communication skills
The right web conferencing software tools to communicate with your students and deliver your classes such as Zoom, Gmail, a webcam, a microphone, etc.

You can offer online classes, personalized one-on-one sessions, workshops, or seminars to students of different ages and backgrounds. And charge anywhere from $20-$50+ per hour depending on your experience and qualifications.

If you want to learn the basics of SEO, sign up for my SEO Quick Wins course .

6. Dropshipping Business

If you're new to entrepreneurship, starting a dropshipping business is a great option as it requires less investment and you can start quickly.

Dropshipping involves partnering with a manufacturer or distributor who ships products directly to customers on behalf of the seller. As the seller, you can keep profits after deducting all costs incurred in the transaction.

This business model is very attractive, especially for first-time entrepreneurs, due to its low overhead and operating costs . You don't need to purchase inventory or manage a warehouse.

The success of your dropshipping business depends on:

The products you select and decide to sell. Pick products with good market demand.
The suppliers you partner with. Work with manufacturers and suppliers that deliver good-quality products.
Product pricing. Keep profit margins in mind to ensure your business is profitable.
Marketing and sales strategies. Be creative with your approach to stand out from the competition.
Customer service. Provide exceptional customer service to encourage repeat purchases.

The Most Successful Business Ideas for 2024

2024 is sure to bring many exciting business opportunities, with the changing economic landscape and technological advances making new ventures possible.

Here are some of the most successful business ideas for 2024 that could be profitable:

7. Generative AI Business

With the rise of AI apps and tools, starting a generative AI business is one of the most unique and promising business ideas. That’s why venture capitalists (VC) are increasing fundings in generative AI startups since 2021.

generative ai business funding is growing

Generative AI uses artificial intelligence-powered algorithms to automate tasks like content creation, design assistance, product prototyping, creative writing, storytelling, and even programming.

This business can help other businesses work faster and be more creative. By automating tasks with AI, businesses can save time and resources, and have their human resources focus on higher-value activities.

Generative AI offers practical uses for different industries like:

Marketing and advertising
Content publishing
Agriculture
Bookkeeping
Customer support

You can build an AI-based product of your own and sell it on a subscription-based model for recurring revenue. Here are some ideas:

However, I recommended that you conduct a detailed market analysis, assess competition, and develop a comprehensive business plan before starting a generative AI business.

You should determine the specific costs associated with it, including:

Technology infrastructure investment in AI algorithms, cloud computing resources, and development tools
Hiring cost of AI experts, data scientists, and developers
Research and development (R&D) costs for product development and improvement
Marketing and sales budget for building a client base
General operational expenses for office space and utilities

Unsure if starting a generative AI business is a good idea?

Let me show you examples of successful generative AI businesses and their estimated earnings.


OpenAI	Content generation and editing, SEO strategy, copywriting, blog ideas	in 2023 ChatGPT Plus plan costs $20/month
Huma.AI	Life sciences SaaS solution for medical affairs	as of Feb 2022
Jasper	Content generation	Product plans start from $49/month
Google DeepMind	Research laboratory

8. Health and Wellness Coaching

With health and wellness becoming increasingly important among consumers, this is a lucrative business idea. With the rise in consumer interest, the global wellness market is valued at $5.3 trillion in 2023. It is expected to grow at a compound annual growth rate (CAGR) of 10% until 2025.

According to a McKinsey & Company study, consumers focus on better health, fitness, nutrition, appearance, sleep, and mindfulness for health and wellness.

consumers' views about health and wellness

As a health and wellness coach, you can help people learn how to make healthier lifestyle choices and manage stress . Coaching services can range from one-on-one sessions to group classes, online or in person.

You can charge:


One-time consultation or 1-hour session	$50-$200 (depending on your professional experience)
Weekly wellness coaching	$50-$120 per week
Monthly coaching with a fixed number of sessions/month	$200-$500 per month (with a 3 or 6-month commitment)
Corporate health coaching	$40K-$60K per year

You may be astonished to find out that experienced coaches charge as high as $1200-$2400 for a 3-session package .

To learn more about how to price your health and wellness coaching services, watch the video below:

9. Ecommerce Business

One of the most successful business ideas today is setting up an ecommerce business. With the help of advanced technology and online payment systems, it is now easier than ever to set up an online store and start selling products.

Starting an ecommerce business requires that you:

Consider the type of goods or services you want to sell.
Decide whether you want to focus on a particular niche market or cater to a wide range of customers.
Develop and maintain an ecommerce website that provides seamless user experiences to your customers.
Find ways to market your products, both online and offline.
Research different payment and shipping options.
Offer discounts, loyalty programs, referral benefits, free shipping, and more to increase footfall and sales.
Create a system for managing customer inquiries and complaints.
Update your website regularly with new products or services.
Analyze customer data to determine trends and make changes accordingly.
Stay up-to-date with the latest technologies and tools to ensure smooth operations of your ecommerce business.

In my experience, the key to ecommerce success lies in building your website properly and optimizing your product pages and landing pages for conversions.

crucial ecommerce website design elements

You may also want to check out my post on the essential components of an ecommerce website .

You can use platforms like BigCommerce and WooCommerce to build yours, or set up an online store on Shopify , Etsy , eBay , and Amazon .

10. Event Planning Business

Event planning businesses have become increasingly popular due to the rise in demand for creative and unique experiences. From weddings to corporate events, this business model provides a great opportunity to help others create memorable moments.

You can offer services such as:

Venue scouting
Vendor coordination
Event budgeting
Event planning and execution
Venue decor
Event hosting
Online and offline event promotions

This is an exciting business opportunity that can be tailored to each client's needs. You can host events with budgets starting from the thousands or even millions of dollars .

11. Gym or Personal Training Business

Opening a gym can be one of the most profitable unique business ideas. If you’ve got a good space and the right equipment, you can make great money by selling 6-month to 1-year gym membership plans.

However, setting up a gym comes with some big startup costs especially if you don’t have a space of your own. The initial expenses include:


Buying a space	$800K-$1,200K (depending on the sq. ft. area and location)
Renting a space	$40K-$150K per year (depending on the sq. ft. area and location)
Gym equipment cost	$10K-$50K
Professional personal training certifications	$500-$800
Hiring certified trainers	$40,000-$69,000 per trainer per year
Gym management and POS system	$550-$2000 per year
Utilities – electricity, phone, internet, etc.	$40K-$63K per year
Insurance premiums	$6,000-$12,000 per year
Marketing expenses	$3,000-$5,000

But the good part is that you can make your gym stand out and attract more members by adding features like aerobics, yoga, or Zumba classes, offering food and beverages to the members, providing discounts on the packages, etc.

This will help you increase your bottom line and make the gym profitable over time. Additionally, you can offer gym memberships to colleges, community centers, societies, and corporations for additional revenue. You can also offer online fitness classes to a large group of people.

So if you’re looking for a unique business with immense growth potential, then opening a gym is something worth considering!

12. Yoga and Pilates Studio

Opening a yoga and pilates studio is a great way to start a business that will provide a range of beneficial services and products for customers. Your studio can become a center for holistic health, offering classes and private sessions that will provide physical and mental wellness benefits to clients .

In addition to providing yoga classes and meditation sessions, you can sell a range of relevant products such as books, equipment, and exercise apparel.

You could also add specialty classes such as prenatal yoga or gentle stretching for seniors.

Generally, a yoga studio can generate anywhere from $15,000 to $60,000 in revenue per year . You can make anywhere from $50 to $100 per hour for private sessions as well.

You can also generate additional revenue by offering workshops and retreats. These events typically charge a flat fee, which could range from $50 to $500 a person.

All you need to start is:

A space for your yoga and pilates studio
Yoga mats and other equipment
Instructional materials
Certifications or licenses (depending on your area)
Advertising materials
Additional instructors depending on how many classes you plan to offer and to how many people
Relaxing music and atmosphere

By creating a yoga and Pilates studio, you can open yourself up to opportunities to provide services that make a positive difference in people’s lives. Not only will you be helping them with their physical and mental health, but you can also earn a comfortable income.

13. Online Courses Business

The global e-learning market is valued at $332.6 billion in 2022 and is expected to reach $686.9 billion by 2030. It will grow at a compound annual growth rate (CAGR) of 9.6% between 2022 and 2030.

But how can you start a business in the e-learning industry?

It’s simple.

Identify what you’re good at, analyze if people want to learn those skills, and launch your online course. Along with pre-defined course materials, you can also conduct one-on-one tutoring and question-answer sessions with them.

Many online course platforms will help you create, host, and sell your courses online. LearnWorlds and Thinkific are two of my favorite ones.

I’ve launched my own “SEO Quick Wins” course in collaboration with Semrush. Check it out:

14. Website Development Services or Agency

Setting up a website development business is another unique business idea with a high potential for being profitable.

With the internet becoming increasingly useful for communication, conducting business, and researching information, having a website has become an essential requirement for any business. Therefore, companies are always looking for website developers to build and maintain websites for them.

By setting up a website development business, you can give your customers well-designed, attractive, and user-friendly websites that allow them to showcase and sell their products or services globally.

To start, you will need:

Basic knowledge of website development
An understanding of web hosting and domain name registration
The ability to work with a variety of content management systems (CMS) such as WordPress, Drupal, and Joomla
The ability to identify, evaluate, and recommend the best website design technologies
Solid project management skills
Good communication skills for dealing with clients
1-2 professional developers with experience working in coding languages such as HTML, CSS, PHP, JavaScript, Python, etc.

Aside from these basic requirements, you will also need a good portfolio of successful website designs and references from past clients. This will help you attract more customers and showcase your expertise.

If you don't have web development experience from your past jobs, you may want to consider partnering with a senior web developer.

Here's how much you can charge for different kinds of website development tasks:


1-5 page blog or website	$300-$3,000
8-10 pages small business website with minimal functionalities	$5,000-$25,000
A basic corporate website	$6,500-$10,000
Ecommerce website with 100-1000 products	$30,000-$70,000
SaaS website	$35,000-$50,000
A complex website with advanced functionalities and tech-savvy elements	$80,000-$1,50,000
Social media website	$80,000-$1,20,000
Marketplace website like Airbnb	$60,000-$1,00,000
Website development cost per hour	$100-$250 per hour
Routine website maintenance	$35-$5,000 per month

15. Bookkeeping and Accounting Business

With a good understanding of the basics of accounting and bookkeeping, you can offer services such as tracking income and expenses, preparing financial statements, filing taxes, etc. for small local businesses around you.

Here's what you need to start:

An understanding of the fundamentals of accounting
Knowledge of software applications such as FreshBooks, Xero, Microsoft Excel, etc.
A good understanding of the local financial regulations and tax laws
Attention to detail and good organizational skills
The ability to communicate with clients

An easy way to start working on this unique business idea is to look for local small businesses that need bookkeeping or accounting services in your area. Alternatively, you could advertise your services online and offline.

Once you have attracted some clients, it is important to stay organized and deliver excellent service. You should also stay current with the latest trends, rules, and tools in the industry to build a successful business.

Here are some of the best bookkeeping tools that you might want to check out!

16. Social Media Management Services

With social media usage on the rise, everyone is looking for professionals to manage their social media accounts. These include everyone from first-time entrepreneurs to large enterprises and influencers to celebrities.

So, are you ready to take advantage of the growing demand for social media management services?

You can start by offering services like:

Content creation and curation
Post scheduling
User engagement and interaction
Account optimization and monitoring
Advanced analytics and reporting
Influencer marketing
Advertising campaigns on major social media platforms

The key to social media business success is to help individuals and brands generate maximum visibility and engagement with their content.

You can use any of the best social media management tools to easily manage and grow multiple social accounts. Vista Social and Sprout Social are two of my favorites.

If you want to run giveaway contests to grow your clients’ influence on social media, VYPER offers great features.

17. Affiliate Marketing

The next unique business idea on my list is to make money with affiliate marketing . You can leverage your content, website traffic, or social media engagement to earn passive income by promoting products or services from other companies.

Doesn't that sound easy?

To make affiliate marketing your full-time business, you need to:

Choose the right industry and product.
Set up your website or blog and create content.
Build a solid online presence.
Pick a reliable affiliate network or join affiliate programs of reputable brands in your niche.
Use creative ways to market products and maximize your earnings.
Track your results and optimize campaigns to increase commissions.

There is no limit to how much you can earn with affiliate marketing. It's a great way to create an income stream that can help you achieve financial freedom. Many bloggers make as much as $58,000-$164,000 per year in affiliate income .

Also, check out my guide on how to start affiliate marketing . I’ve also put together a list of affiliate marketing websites in different niches to help you get started.

18. Online Advertising Business

Online advertising or digital marketing has taken over traditional marketing as more and more local businesses with physical stores are engaging their customers online.

As a digital marketing specialist, you can easily make $54,301 per year by providing services such as:

Search engine optimization (SEO)
Content writing and marketing
Email marketing
Social media marketing
Pay-per-click advertising (PPC)

This is one of the unique business ideas that you can start from home. You just need to have the know-how of marketing, copywriting , and how different online marketing channels work.

Along with knowledge and experience, you’ll also need the right set of tools to plan, execute, track, measure results, and manage your campaigns. Platforms like Semrush , Mailchimp , Vista Social , ProWritingAid , and Heepsy can make your job easier.

Unique Business Ideas for Food Lovers

Food-related businesses are always popular, and 2024 is sure to bring some unique business ideas for food lovers.

Here are some unique food business ideas that can help you get started:

Setting up a bakery is perfect for anyone who loves creating and serving delicious baked goods. You could offer a selection of pre-made items or accept custom orders for cakes with designs and flavors meaningful to the client.

To start a bakery, you'll need:

A bakery location with the necessary permits
Kitchen equipment such as an oven, refrigerator, mixer, and other tools
Ingredients for baking
Packaging materials such as boxes and wrapping paper
Staff – experienced professionals and those skilled at baking, someone to take care of orders, washing, cleaning, etc.

The best part is that bakeries have great profit potential. An average bakery makes between $325,000 and $450,000 per year.

20. Coffee Shop or Cafe

As a food lover, you may want to open a cafe or coffee shop. This is the perfect business for caffeine lovers and foodies alike. You can offer specialty coffees and teas along with sandwiches and pastries.

To start a cafe or coffee shop, you'll need:

A location with the necessary permits
Kitchen equipment such as espresso machines, a refrigerator, ovens, etc.
Ingredients for making drinks and food items such as coffee beans, tea leaves, bread, cheese, milk, etc.
Packaging materials such as cups and containers
Staff – experienced professionals and those skilled in preparing coffee and food items

Most small to medium-sized coffee shop/cafe owners make anywhere from $60,000 to $160,000 per year. However, this number could vary depending on your location, foot traffic, and other extras you offer, for instance, merchandise products.

If you offer catering services or host special events like birthdays or office events, your profits could be even greater.

21. Personal Chef Services

Do you enjoy cooking? Do you often get compliments on your delicious dishes?

Then you should consider offering personal chef services to busy professionals, families, or celebrities who don’t have the time to cook for themselves. As a personal chef, you’ll create custom meals for clients and may handle the grocery shopping as well.

You’ll need the following to get started as a personal chef:

Cooking skills and knowledge about different cuisines
The ability to work independently
Access to quality ingredients at the best prices
Creativity and imagination when it comes to creating unique dishes for your clients
Experience working as a chef in a restaurant or other culinary setting
A certification in food safety and sanitation or a degree in culinary arts may give you an advantage over others.


1-person meal	$55-$100 (depending on expensive food, add-ons, etc.)
1-hour preparation	$30-$40
3-course meal for 1 person	$100-$400
Dinner party for 8 people	$400-$1600
Additional server or support staff for large parties	$250 per server
3 meals for a family of four	$200-$300 per week (excluding the cost of ingredients)
Hiring a chef for a family of four	$1200-$2300 per month (excluding the cost of ingredients)
Full-time services	$40,000-$60,000 per year (excluding the cost of ingredients)

Some factors that can impact this cost include:

Your experience as a chef
Grocery costs
Preparation time
Number of servings
Special requests – dietary restrictions, specialty dishes, etc.
Location – competition rates in the area, transportation costs, etc.

22. Food Delivery Services

With the increasing popularity of food delivery services, starting a food delivery business is a great way to take advantage of this growing trend. You can offer your own delivery service or partner with existing restaurants and meal kit companies to provide their customers with convenient delivery options.

You can also focus on specific types of cuisine or use locally sourced ingredients to create specialty dishes and offer them through your delivery service.

The key to success lies in understanding the needs of your customers and delivering quality, fresh options that meet their preferences.

For this, you'll need to:

Either partner with existing restaurants or prepare your own dishes.
Build relationships with local restaurants and meal kit companies to ensure a reliable supply of fresh ingredients.
Develop an efficient delivery system that is easy to use and tracks all orders.
Hire an efficient team of delivery drivers to ensure smooth operations and customer satisfaction. Ensure all orders are delivered accurately and on time.
Establish a marketing plan to reach potential customers and build a loyal following.

With the right planning, you could have a thriving business that offers tasty food to hungry customers with unbeatable convenience.

By keeping an eye on customer feedback and using data-driven insights to optimize operations, you can ensure consistent results. Additionally, offering discounts or loyalty rewards can further help your delivery service stand out from the competition.

The startup costs can range anywhere from $3000-$25,000 when we talk about starting a food delivery business. This includes the cost of:

A workspace
Technology expenses – app or website development, online ordering, tracking, etc.
Staff – delivery partners, manager, IT support for the app or website
Business licenses and insurance
Marketing team or agency costs (if you outsource it)

While it may seem expensive, the earning potential of this business is very high – especially with the right strategies and customer base. The U.S. food delivery market generated a revenue of $287.51 billion in 2023 alone. It is expected to grow at a CAGR of 13.21% between 2023-2028.

23. Meal Planning Services

Meal planning services can help busy families or individuals who don’t have the time to plan out meals on their own. As a meal planner, you would create weekly menus for your clients and provide recipes and shopping lists to make the process easier.

You could even offer in-home meal preparation or cooking classes if you have the skills and space.

Here's what you'll need to start a meal planning business:

Knowledge about the nutritional value of different foods
Access to local markets
The ability to create nutritious, balanced, and delicious meal menus for your clients
Knowledge about food allergies, sensitivities, and other dietary restrictions
Organizational skills to help manage the meal planning process
A course or certification in nutrition or culinary arts may give you an advantage over others!

Subscription-based meal kits with pre-measured ingredients, recipes, and instructions are also popular among Americans. So much that the meal kit service market (fresh and packaged food) is expected to grow to $64.4 billion by 2030.

24. Gourmet Food Truck Business

Many people are attracted to the idea of running their own business which allows them to travel. If this sounds like you, starting a gourmet food truck business could be a good fit for you.

Gourmet food trucks offer unique dishes that you won’t find anywhere else. They can also provide a great opportunity to meet new people and build relationships with customers in different areas.

To start your own gourmet food truck business, you will need to:

Secure the right permits and licenses.
Purchase or lease a food truck and stock it with the necessary supplies.
Develop a menu that appeals to your target customer base.
Advertise your business in local newspapers, online, and via social media platforms.
Choose strategic locations to set up shop.
Hire qualified staff that can handle customer service and food preparation duties.
Stay on top of the latest trends in gourmet food and recipes.
Ensure that your truck meets all health and safety regulations.
Keep up with customer feedback and make changes where necessary.
Develop a loyalty program to reward customers for their repeat business.
Research and understand the local food truck laws and regulations, and abide by them.

Innovative and Unique Business Ideas to Make Money in Your Teens

American teens are fortunate to live in a country with abundant resources and opportunities. With the right idea, hard work, and dedication, you can start your own business and make money while still in high school or college.

Here are a few innovative business ideas that you can take advantage of:

25. Errand Running Service

As a teenager, you can offer to run errands for busy parents or seniors in your community. You can offer your services through flyers, social media, or even word-of-mouth marketing.

So what type of errands can you run?

It could be anything, including:

Grocery shopping
Picking up dry cleaning
Delivering medication
Taking pets to the vet
Helping with yard work
Organizing closets and drawers
Cleaning rooms or garages

It depends on the needs of your clients and what they’re willing to pay for.

The advantage is that you can set your working hours, choose the services you offer, and charge an average of $15-$35 per hour based on your location of service and the task you’re doing.

Pro tip: Some companies or platforms can help you make money running errands. Some of them include:


Care.com	Child care, tutoring, senior care, pet care, housekeeping, personal assistance, etc.	$10-$40 per hour
DoorDash Food Delivery & Takeout	Delivering food from restaurants as per your schedule	Base pay depending on time and distance Tips from customers Promotions like Peak Pay and Challenges
Instacart Shoppers	Grocery shopping and delivery or just shopping	$13-$20 per hour 100% of tips from customers Referral bonus if you persuade friends to shop with them

26. Freelance Writing Business

One of the best ways for a teen to make money is by writing. There are plenty of freelance opportunities out there, and you can specialize in writing for certain niches such as technology or beauty.

With a knack for the written word, you can find work easily – all you need to do is build up your portfolio and show it off! You may also want to try some of the best writing tools that can help you write better and faster. I recommend that you give ProWritingAid , Semrush’s SEO Writing Assistant , and Content Shake a try.

You can charge $51 per hour on average to provide writing services. However, you’ll need to look for high-value projects and clients to increase your earnings. Don’t fall for companies paying pennies if you’ve got the skills.

27. Virtual Assistant Services

Many entrepreneurs and startup owners are now looking for virtual assistant services to reduce their startup costs. This is a great opportunity for teens to make money, as they can easily manage tasks such as scheduling meetings and dealing with emails without any experience.

You can work from home or even on your phone, so you don't have to worry about commuting or taking time away from school. And it can also be a great way to learn more about office administration for future career opportunities.

Prices vary but you can usually charge anywhere from $15-$50 per hour depending on the tasks you're assigned.

28. Photography Business

Do you have a passion for photography and get hundreds of likes and comments on your images? Why not start your own business and offer your photography services to individuals or firms?

You can turn your hobby into a business by taking photos of people, places, and events. You can even specialize in specific areas of photography such as weddings, fashion, pets, landscapes, or sports.

All you need is a camera to get started and of course, a knack for taking beautiful photos! You can learn as you go – improve your skills and sell better.Here’s an interesting and resourceful video on how @The Bliss Bean started her photography business as a teenager:

How can you make money with your photography services?

Sell your photos online on money-paying stock photo sites such as Shutterstock, iStock, 500px, etc.
Sell your prints on platforms like Etsy.
Assist professional photographers. You can follow them on social media and look for gigs on freelance and part-time job platforms.
Become a photographer for small events in your locality or social circle.
Start a photography blog or YouTube channel to offer your services.
Land a part-time job with a local magazine or company for product, portrait, or landscape photography.

With pro skills and some experience, you can expect to earn $50-$150 per hour .

29. Photo and Video Editor

Another similar unique business idea you can explore is a photo and video editing business.

The first step would be to learn the basics of photo or video editing. You can find tutorials on YouTube for free. Once you’ve mastered the basics, you can start offering your services to businesses, bloggers, or even individuals.

Here’s how you can make money:

Offer your services on freelance platforms such as Upwork, Fiverr, and Freelancer.
Assist professional editors and photographers with their work.
Create custom logos, covers, or banners for businesses or individuals.
Create intro and outro videos for YouTube channels.
Edit photos from special events such as birthdays, anniversaries, etc.
Edit videos for influencers, entrepreneurs, and other local businesses.

Your rate will depend on your skills and experience. But with some practice, you can charge anywhere from $10-$50 an hour for photo editing and $30-$70 an hour for your video editing services.

30. Selling Candles

With the right packaging, scents, and colors, you can sell your candles online or at local markets.

And the best part?Candle-making is both easy and fun. You can learn the basics of candle-making by joining a workshop or watching YouTube videos that teach it.

Once you know the basics, you can experiment with different shapes, sizes, scents, and colors, and also create custom pieces for special occasions like birthdays, weddings, and anniversaries.

How much can you make by selling candles?

You can easily sell your candles for $15-$20 per candle . For more innovative designs or custom-made orders, you may be able to make up to $50 or $100 per piece as well.

31. Social Media Influencer

Social media influencers are the new breed of entrepreneurs. Teens can become social media influencers and promote products or services on their social media profiles.

You can make money from sponsored posts, affiliate sales, and even by creating your own content such as videos or tutorials. This is a great way to make money while being creative and having fun!

Depending on the platform and your influence, you can earn anywhere from $50-$500 per sponsored post . Popular influencers charge millions of dollars for promoting brands on their profiles. So, there is practically no limit to how much you can earn as an influencer.

Check out my guide on how to become an influencer and start making money.

32. Car Washing Service

A lot of high school and college students who want to make extra money do chores. If you want to utilize your free hours to make money, one of the easiest and most profitable businesses that you can start is a car wash service.

All you need is some water, a car-washing sponge, and a few cleaning products. You can advertise your services to clients near your home or college campus or even start by offering your services to friends and family.

You can charge anywhere from $20-$100 per car wash depending on the type of vehicle, type of service, and location. And if you stick around for long enough, you may be able to build up a strong client base and eventually hire staff to do the work for you.

33. Gift Wrapping Business

For those who don’t have the time or energy to wrap gifts for every occasion, teens can offer them gift-wrapping services. Not just at Christmas time, but on any special occasion that needs a unique, professional touch.

As a high school or college student, you can easily make time in the evening to wrap gifts and bouquets. You can either charge an hourly fee or a flat rate depending on the job. It could be anywhere from $10-$30 per hour or per package .

If you're creative, you can even offer custom gift-wrapping services using unique materials and designs and easily charge $50-$100 per gift package .

What you'll need to start:

Wrapping paper and craft supplies
Organizational and marketing skills
Creativity and an eye for detail
Good communication skills
Patience and attention to detail
An online presence such as a website or social media profiles to promote your services
Pamphlets to spread awareness of your service

34. Gardening Services

If you have a green thumb and a passion for gardening, you can provide gardening services in your local area. Charge by the hour or offer packages and discounts to attract people in your community.

You can offer services like:

Watering plants
Planting flowers
Trimming trees and bushes
Even setting up small gardens for clients

You can easily make anywhere between $20-$50 per hour in your free time or during the weekends. And it won't impact your studies.

If the garden area is big, you can also make $100-$150 per maintenance session.

These are just a few of the business ideas teens can explore if they’re looking to make some extra money. With the right idea, hard work, and dedication you can make your dreams a reality. Good luck!

Unique Business Ideas for Moms

As a mother, you may often find yourself busy taking care of your children and managing your household. That doesn’t mean that you can’t find time to start a business as well.

Moms have a lot of experience juggling work and family life, so it is no surprise that many of those are turning into business ideas.

Here are some unique business ideas for moms to consider:

35. Resume Writing

Have you worked in the professional world before becoming a mom? Do you know what it takes to win over hiring managers?

If so, you should put your skills to good use by offering resume writing services to individuals looking for work. You can help people create compelling resumes that will highlight their strengths, experience, and skills.

Here's what it takes to offer a resume writing service:

The ability to analyze and understand job descriptions
Knowledge of current trends in resume writing
Excellent writing skills
Professionalism when dealing with clients
Taking a certification may give you an edge over others in the business

When writing a resume for fresh graduates, you can charge $50-$150 per resume. For more experienced clients, you can charge up to $400 for perfectly showcasing their career achievements.

36. Boutique Clothing Business

Do you have an eye for fashion? If so, why not start a boutique clothing business and make money from your passion?

You can sell various clothing items such as dresses, tops, skirts, pants, and more.

Here's what you need to do to set up your business:

Design a logo for your business and create an online store.
Source clothing items from manufacturers or wholesalers at reasonable prices.
Create your own designs or customize existing designs.
Advertise your business through online and offline channels to reach potential customers.

You can make anywhere from $26,500 to $242,000 per year with your boutique business depending on your brand’s popularity, type of clients, and the uniqueness of your designs.

boutique owner earnings in the usa in 2023

37. Handmade Crafts Business

Crafting can be a great way to make money from home. Consider selling your handmade crafts at local craft fairs, online marketplaces such as Etsy, or on social media. If you’re creative and have an eye for detail, this may be the perfect business for you.

Crafting supplies like paints, yarn, fabric, beads, etc.
The ability to craft beautiful pieces that attract customers
A camera or smartphone for taking pictures of your crafts to post online
A website or social media page to showcase your creations and spread the word about your business

38. Daycare Business

Did you know that the U.S. childcare market size was valued at $60.4 billion in 2022 and will grow at a CAGR of 4.18% from 2023 to 2030?

This makes a daycare business a great option for moms looking to start their own businesses. You can offer part-time or full-time care, depending on what works best for you and your family.

You just need:

A cozy and comfortable space for kids
Some basic childcare training
Any safety certifications as required by law
Useful toys such as stuffed animals, cushions, building blocks, alphabets, etc.
Local advertising to attract parents living in your neighborhood

Starting a daycare business can be a great way to financially support your family while providing an important service to other parents.

39. Home Staging and Redesigning Service

Home staging and redesigning services are in high demand. Working as a home stager or designer can be a great way to make money while flexibly working from home.

You can go into homes and help clients get their properties ready for sale, or simply revamp their existing space with a fresh new look.

You don’t need any formal training to start a home staging business, although design and decorating experience can be beneficial. You just need an eye for design, the ability to work with clients, and some creative ideas on how to transform homes.

40. Coaching & Consulting Business

Do you have expertise in a certain area?

If so, you can turn your knowledge into a business by offering coaching and consulting services. As a coach or consultant, you will provide guidance and advice to clients about issues they are facing. You can offer online consultations or even host virtual events such as workshops or webinars.

You can start a coaching and consulting business in different niches, which include but are not limited to:

Business coaching
Life coaching
Health/fitness coaching
Career coaching
Financial consulting
Marketing and sales consulting

This is a great way for moms to make money while helping others. Plus, you can choose your own hours and work from the comfort of your own home. All you need is experience or knowledge in a particular field, and the ability to market yourself.

Now that we’ve discussed 40 unique business ideas, let’s take a brief look at the process of starting a business from scratch.

How to Start Your Business in 2024

Being an entrepreneur myself, I understand what it takes to build a successful business and would like to help make the journey easier for you.

So, regardless of the unique business idea you choose, here are the steps you need to take:

Step 1: Identify Your Unique Business Idea and Validate It

Whether you pick a business idea from my list or come up with your own, make sure to conduct extensive market research and ensure that your business idea is viable.

To find a suitable business idea, you should:

Analyze your interests, skills, and experience to pick a business idea.
Research and analyze the market to understand if there is enough demand for what you want to offer.
See if you’ve got the right resources and tools to get started. Can you afford to buy them?
Validate and refine your business idea to make it more attractive.

If you’re still unsure about the feasibility and profitability of your business idea, sign up for an online course like “ Finding a Business Idea ” by the Online Business Academy to get expert help.

It will give you a step-by-step plan to find, validate, and communicate your unique business ideas to the world.

And the best part?

You can enroll for FREE today!

Step 2: Create a Business Plan

Before you bring your unique business idea into action, it’s important to have a well-documented business plan .

A business plan helps you map out the future of your business and understand its potential for success. It is also necessary when seeking funding from investors or lenders.

Here’s what you must include in your business plan:

Business model: What your business does, your products and/or services, your customers, your business structure, your USP and value proposition, etc.
Product or service: A description of your product or service, how it is unique, pricing details, etc.
Market analysis: Your target market and customer base
Competitor analysis: Your competitors and their strengths and weaknesses
Financial plan: Your budget, startup costs, funding plans, equipment and tools costs, financial projections for the next five years
Marketing and sales strategy: A marketing strategy to reach potential customers and grow sales, including marketing ideas, channels, tools, etc.

Step 3: Register Your Business as a Legal Entity

You need to register your business as a legal entity. As a first-time entrepreneur or a small business owner, you can form a Sole Proprietorship or an LLC (Limited Liability Company).

Most small businesses start as LLCs because of the flexibility this business structure provides. It requires minimal compliance and also offers personal liability protection to the owner.

Regardless of the entity type you choose, you’ll need to:

Follow the best practices to pick a name for your small business.
File the required business formation documents with the state authorities.
File for an EIN (Employer Identification Number) for tax purposes.
Ensure that your small business remains compliant with US business laws.
Take care of the required ongoing reporting and fees.

Handling all of this legal paperwork and other formalities might be tedious and confusing, especially for first-time small business owners.

I feel overwhelmed handling paperwork and, therefore, prefer to hire professionals to do it for me. You can also leverage the state and federal filing services of GovDocFiling experts.

This will enable you to focus on other important parts of your building and scaling up your small business.

Step 4: Develop Your Brand Identity

Creating a strong and recognizable brand identity helps to build trust with customers. You’ll need to have a well-defined logo, color palette, font style, and tagline that reflect your business values and communicate them effectively to the customers.

You can use ZeBrand to build your brand identity from scratch. I’ve reviewed its features and use cases here .

Step 5: Get Funding

If you don’t have enough money to invest in your business, consider applying for loans or grants. You can also look for investors who are willing to fund your project.

You can also get quick and easy loans from the U.S. Small Business Administration . Along with offering SBA-guaranteed loans, they also help you plan, launch, manage, and grow your small business with free business counseling.

Make sure to present a solid business plan and explain why investing in your business is a good idea.

Step 6: Pick the Right Business Tools and Resources

Even the best unique business ideas need proper resources, effort, and time to flourish. Based on the small business idea you finalize, make sure you buy or subscribe to the right solutions.

For example, my business toolkit includes:

Slack and ClickUp for communication and collaboration
Bluehost for web hosting
WordPress , Elementor , and Rank Math for website design and SEO
Semrush , Surfer SEO , and SE Ranking for SEO and content optimization
Google Docs , Copyscape , and Semrush’s SEO Writing Assistant for writing
Meta Business Suite and Vista Social for social media management
Mailchimp for email marketing
Semrush’s Influencer Analytics and Heepsy for influencer marketing
invideo for video marketing
Tailwind for hashtag suggestions

If you’re starting a digital business, you’ll likely need these tools too.

However, if you pick landscaping from this list of unique business ideas, you’ll primarily need to buy equipment like shovels, wheelbarrows, tillers, drills, etc.

If your business finances don’t allow you to invest in the right tools (at least the basic ones), you might have to reconsider your decision and look for other low-cost unique business ideas.

Step 7: Set Up Your Workspace

Ask yourself whether your business will work well from home. Many home business ideas do – such as freelance services , online advertising , dropshipping , etc.

However, having a designated workspace is important even if it’s at your home. It encourages you to work professionally and helps you maintain a healthy work-life balance.

I’m saying this with experience and I love working from my home office. 😉

For some business ideas, working from home might not be feasible.

For example, if you want to open a gym , flower shop, or grocery store, you may probably need to look for a rental space. Your store location will also play an important role in attracting your target consumer base.

Step 8: Take Your Business Online

Don’t forget to build an online presence for your business.

The easiest way to do so is to build your website with WordPress and WooCommerce or create an online store on platforms like BigCommerce and Shopify .

Claim your social media handles across platforms like Facebook, Instagram, LinkedIn, and Pinterest. Choose the platforms wisely based on where your target audience is most active.

Then, invest in SEO , content marketing , link building , and social media marketing to boost your visibility online.

Ready to Carve Out Your Niche with These Unique Business Ideas?

Behind every successful business is a great idea, effort, and dedication. Find a unique business idea that aligns with your skills and interests.

Start as a side hustle, grow your client base, and expand wisely.

Got questions about starting up? Download my free guide to get started.

What businesses are rare?

Rare businesses often involve unique and less common concepts or services. Examples include niche boutiques, specialized tour operations, certain types of artisanal food services, or businesses that cater to specific hobbies or interests that are not widely prevalent.

What is a unique business idea?

A unique business idea typically involves innovative, creative solutions or services that address specific problems or market gaps. They stand out for their originality, filling a need that has been overlooked, or offering a new twist on traditional business models.

What is the most fun business to start?

The most fun business to start can vary based on personal interests, but popular options include event planning, travel services, recreational activities, pet-related businesses, or creative ventures like art studios, music production, or culinary experiences.

What small business is the most successful?

The most successful small businesses often include those in healthcare, real estate, e-commerce, IT services, and construction. Success typically depends on market demand, the entrepreneur's expertise, and the ability to adapt to changing economic conditions.

What business makes the most money?

Businesses in financial services, real estate, healthcare, IT, and e-commerce are among the most profitable. These sectors often have high demand and can offer lucrative returns, though success depends on factors like market positioning, competition, and operational efficiency.

Shane Barker is a digital marketing consultant who specializes in influencer marketing, product launches, sales funnels, targeted traffic, and website conversions. He has consulted with Fortune 500 companies, influencers with digital products, and a number of A-List celebrities.

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Entrepreneurship

20 profitable product ideas for your business.

Andrew Moran

In this post-crisis economy, businesses are trying to go back to what they do best: develop goods and services to satisfy consumer demand. Will they come up with the next major idea that changes the world? This is indeed the goal!

What could be a product idea that a multinational and multi-billion-dollar corporation or a small business of five think of anyway? This is the tricky part as there are many ways to come up concepts to solve problems, improve health or help with workflows.

List of product ideas

If you’re looking for inspiration, you’ve come to the right place. Here are 20 profitable product ideas that you could develop in today’s marketplace.

1. Food tools

If you have great cooking skills, one way of generating income is selling food products. There’s always a demand for kitchen tools that can mitigate the disaster known as dinner, especially with many families with both partners working full time.

Another lucrative product idea is jewelry. If you have the right skills and the ability to produce new and innovative designs, you can run a successful operation. However, when selling jewelry, it’s always a good idea to start small and make sure you have an insurance policy in case of theft.

In addition, you can advertise your jewelry on Facebook’s Marketplace and other online platforms. You can also generate interest and attract customers by showing your products to your colleagues, friends, and family.

3. Baked goods

Most people love candles because of their esthetics and scent. There is a big market for fancy and scented candles if you know how to design them. Of course, you will need the right tools and an appropriate place; candle-making is not suitable in a home. But if you manage to create high-quality candle products, you should do quite well.

5. Smartphone accessories

6. online courses.

With many students and even career professionals now studying online, there is a huge demand for online courses. This can work well for people who are either teachers or have tutoring experience and the skills and qualifications to teach others.

Once you have created an online course, you can either enroll students for regular classes or provide the complete course to people who register and sign up for it. All you need to create the online course is a reliable PC, Microsoft Word and PowerPoint, graphics and, of course, the time.

7. Sex toys

8. skincare products, 9. greeting cards.

Despite the availability of online greeting cards, the print greeting card industry continues to thrive, surprising many market experts who crunch business strategies for a living. The key reason is that most online greeting cards are too generalized and impersonal. Most people still prefer to purchase physical greeting cards for different events and occasions.

You can offer interesting and creative greeting cards for special occasions that are different from standardized cards that are available in the market. However, you will need to market your product as there is significant competition and too many alternatives for customers.

10. Art products

You can sell these goods from your home or at weekend markets, festivals, and online platforms. You will need the right tools and equipment to produce these products, but you should have consistent sales if you do a good job.

11. Business graphics and logos

Many small businesses out there do not have extensive marketing budgets. Therefore, they search for people who can make simple yet attractive logos, business card designs, sketches, drawings, and product posters/brochures. You need a good graphic design program like Photoshop or GIMP, a decent PC, and design skills.

12. Writing services

Freelance writing is another service that is always in demand. While it will not make you rich, you can still make a decent living if you have good writing skills . To succeed as a freelance writer, you need to commit. Writing jobs are not consistent, and you may be required to write on various topics, some of which may require research. However, if you can find the right clients, you can make a consistent income.

13. Baby products

14. home office products, 15. reusable items.

There is a growing market for selling products that are reusable, such as water bottles, straws, bags, coffee filters, and other sustainable products. Reusable is the main sell point.

16. Subscription boxes

17. car accessories and products, 18. fitness products.

This is another huge market that has been showing consistent growth. You can begin by selling things like pedometers, shoes, fitness tracks, towels, and armbands. If enough revenues are being generated, you can expand your suite of products to bulkier products, such as bicycles, treadmills, and other exercise equipment.

19. Social media page creation

20. home decoration products.

Home decoration products are always in demand. For example, you can offer scented candles, paintings, plants, flowers, wall hangings, curtains, clocks, sculptures, and cushions. There is significant potential in this product category and many different items that you can add to your product line.

How to come up with product ideas

1. learn the latest trends, 2. solve an existing problem.

Is there a product out there that can help you extract juice from an orange? Oh, wait. There already is. But this eureka moment should not stop you from coming up with other products that could solve an existing one and then running it up the flagpole to see who salutes it. This is what corporations do: find new solutions to current problems. This is how they make $50 billion in revenues each quarter.

3. Enhance a product already on the market

4. engage with your clients, 5. recreate an older product.

Social media was around in the pioneer days of the internet, but it never resonated with the public. Nearly 10 years after the first social network was developed (and then failed), the likes of Facebook and Twitter popped up and changed our worlds forever. This is an example of resurrecting older products and applying new uses to them or reintroducing them to the marketplace. All you need is some stellar promotion .

What will you manufacture next? Let us know in the comments section below!

18 of My Favorite Sample Business Plans & Examples For Your Inspiration

Published: July 01, 2024

I believe that reading sample business plans is essential when writing your own.

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As you explore business plan examples from real companies and brands, it’s easier for you to learn how to write a good one.

So what does a good business plan look like? And how do you write one that’s both viable and convincing? I’ll walk you through the ideal business plan format along with some examples to help you get started.

Table of Contents

Business Plan Types

Business plan format, sample business plan: section by section, sample business plan templates, top business plan examples.

Ultimately, the format of your business plan will vary based on your goals for that plan. I’ve added this quick review of different business plan types that achieve differing goals.

For a more detailed exploration of business plan types, you can check out this post .

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1. Startups

Startup business plans are for proposing new business ideas. If you’re planning to start a small business, preparing a business plan is crucial. The plan should include all the major factors of your business.

You can check out this guide for more detailed business plan inspiration .

2. Feasibility Studies

Feasibility business plans focus on that business's product or service. Feasibility plans are sometimes added to startup business plans. They can also be a new business plan for an already thriving organization.

3. Internal Use

You can use internal business plans to share goals, strategies, or performance updates with stakeholders. In my opinion, internal business plans are useful for alignment and building support for ambitious goals.

4. Strategic Initiatives

A strategic business plan is another business plan that's often shared internally. This plan covers long-term business objectives that might not have been included in the startup business plan.

5. Business Acquisition or Repositioning

When a business is moving forward with an acquisition or repositioning, it may need extra structure and support. These types of business plans expand on a company's acquisition or repositioning strategy.

Growth sometimes just happens as a business continues operations. But more often, a business needs to create a structure with specific targets to meet set goals for expansion. This business plan type can help a business focus on short-term growth goals and align resources with those goals.

I’m going to focus on a startup business plan that needs to be detailed and research-backed as well as compelling enough to convince investors to offer funding. In my experience, the most comprehensive and convincing business plans contain the following sections.

Executive Summary

This all-important introduction to your business plan sets the tone and includes the company description as well as what you will be exchanging for money — whether that’s product lines, services, or product-service hybrids.

Market Opportunity

Information about gaps in your industry’s market and how you plan to fill them, focused on demand and potential for growth.

Competitive Landscape Analysis

An overview of your competitors that includes consideration of their strengths and how you’ll manage them, their weaknesses and how you’ll capitalize on them, and how you can differentiate your offerings in the industry.

Target Audience

Descriptions of your ideal customers, their various problems that you can solve, and your customer acquisition strategy.

Marketing Strategy

This section details how you will market your brand to achieve specific goals, the channels and tactics you’ll utilize to reach those goals, and the metrics you’ll be using to measure your progress.

Key Features and Benefits

This is where you’ll use plain language to emphasize the value of your product/service, how it solves the problems of your target audiences, and how you’ll scale up over time.

Pricing and Revenue

This section describes your pricing strategy and plans for building revenue streams that fit your audiences while achieving your business goals.

This is the final section, communicating with investors that your business idea is worth investing in via profit/loss statements, cash flow statements, and balance sheets to prove viability.

Okay, so now that we have a format established, I’ll give you more specific details about each section along with examples. Truthfully, I wish I’d had this resource to help me flesh out those first business plans long ago.

1. Executive Summary

I’d say the executive summary is the most important section of the entire business plan. It is essentially an overview of and introduction to your entire project.

Write this in such a way that it grabs your readers' attention and guides them through the rest of the business plan. This is important because a business plan can be dozens or hundreds of pages long.

There are two main elements I’d recommend including in your executive summary: your company description and your products and services.

Company Description

This is the perfect space to highlight your company’s mission statement and goals, a brief overview of your history and leadership, and your top accomplishments as a business.

Tell potential investors who you are and why what you do matters. Naturally, they’re going to want to know who they’re getting into business with up front. This is a great opportunity to showcase your impact.

Need some extra help firming up your business goals? I’d recommend HubSpot Academy’s free course to help you set meaningful goals that matter most for your business.

Products and Services

Here, you will incorporate an overview of your offerings. This doesn’t have to be extensive, as it is just a chance to introduce your industry and overall purpose as a business. I recommend including snippets of information about your financial projections and competitive advantage here as well.

Keep in mind that you'll cover many of these topics in more detail later on in the business plan. The executive summary should be clear and brief, only including the most important takeaways.

Executive Summary Business Plan Examples

This example was created with HubSpot’s business plan template . What makes this executive summary good is that it tells potential investors a short story while still covering all of the most important details.

Our Mission

Maria’s Gluten Free Bagels offers gluten-free bagels, along with various toppings, other gluten-free breakfast sandwich items, and coffee. The facility is entirely gluten free. Our team expects to catch the interest of gluten-free, celiac, or health-conscious community members who are seeking an enjoyable cafe to socialize. Due to a lack of gluten-free bagel products in the food industry currently, we expect mild competition and are confident we will be able to build a strong market position.

The Company and Management

Maria’s Gluten Free Bagels was founded in 2010 by Maria Jones, who first began selling her gluten-free bagels online from her home, using social media to spread the word. In 2012 she bought a retail location in Hamilton, MA, which now employs four full-time employees and six part-time employees. Prior to her bagel shop, Maria was a chef in New York and has extensive experience in the food industry.

Along with Maria Jones, Gluten Free Bagel Shop has a board of advisors. The advisors are:

Jeni King, partner at Winding Communications, Ltd.
Henry Wilson, president of Blue Robin, LLP.

Our Product

We offer gluten-free products ranging from bagels and cream cheese to blueberry muffins, coffee, and pastries. Our customers are health-conscious, community-oriented people who enjoy gluten-free products. We will create a welcoming, warm environment with opportunities for open mic nights, poetry readings, and other community functions. We will focus on creating an environment in which someone feels comfortable meeting a friend for lunch, or working remotely.

Our Competitive Advantages

While there are other coffee shops and cafes in the North Shore region, there are none that offer purely gluten-free options. This restricts those suffering from gluten-free illnesses or simply those with a gluten-free preference. This will be our primary selling point. Additionally, our market research [see Section 3] has shown a demand for a community-oriented coffee and bagel shop in the town of Hamilton, MA.

Financial Considerations

Our sales projections for the first year are $400,000. We project a 15% growth rate over the next two years. By year three, we project 61% gross margins.

We will have four full-time employees. The salary for each employee will be $50,000.

Start-up Financing Requirements

We are seeking to raise $125,000 in startup to finance year one. The owner has invested $50,000 to meet working capital requirements, and will use a loan of $100,000 to supplement the rest.

Example 2 :

Marianne and Keith Bean have been involved with the food industry for several years. They opened their first restaurant in Antlers, Oklahoma in 1981, and their second in Hugo in 1988. Although praised for the quality of many of the items on their menu, they have attained a special notoriety for their desserts. After years of requests for their flavored whipped cream toppings, they have decided to pursue marketing these products separately from the restaurants.

Marianne and Keith Bean have developed several recipes for flavored whipped cream topping. They include chocolate, raspberry, cinnamon almond, and strawberry. These flavored dessert toppings have been used in the setting of their two restaurants over the past 18 years, and have been produced in large quantities. The estimated shelf life of the product is 21 days at refrigeration temperatures and up to six months when frozen. The Beans intend to market this product in its frozen state in 8 and 12-ounce plastic tubs. They also intend to have the products available in six ounce pressurized cans. Special attention has been given to developing an attractive label that will stress the gourmet/specialty nature of the products.

Distribution of Fancy's Foods Whipped Dream product will begin in the local southeastern Oklahoma area. The Beans have an established name and reputation in this area, and product introduction should encounter little resistance.

Financial analyses show that the company will have both a positive cash flow and profit in the first year. The expected return on equity in the first year is 10.88%

Tips for Writing Your Executive Summary

Start with a strong introduction of your company that showcases your mission and impact, then outline the products and services you provide.
Clearly define a problem, explain how your product solves that problem, and show why the market needs your business.
Be sure to highlight your value proposition, market opportunity, and growth potential.
Keep it concise and support ideas with data.
Customize your summary to your audience. For example, you might emphasize finances and return on investment for venture capitalists, whereas you might emphasize community benefits and minimal environmental impact for progressive nonprofits.

For more guidance, check out our tips for writing an effective executive summary .

2. Market Opportunity

This is where you'll detail the opportunity in the market. Ask and answer: Where is the gap in the current industry, and how will my product fill that gap?

To get a thorough understanding of the market opportunity, you'll want to conduct a TAM, SAM, SOM analysis , a SWOT analysis , and perform market research on your industry to get some insights for this section. More specifically, here’s what I’d include.

The size of the market
Current or potential market share
Trends in the industry and consumer behavior
Where the gap is
What caused the gap
How you intend to fill it

Market Opportunity Business Plan Example

I like this example because it uses critical data to underline the size of the potential market and what part of that market this service hopes to capture.

Example: The market for Doggie Pause is all of the dog owners in the metropolitan area and surrounding areas of the city. We believe that this is going to be 2/3 of the population, and we have a goal of gaining a 50% market share. We have a target of a 20% yearly profit increase as the business continues.

Tips for Writing Your Market Opportunity Section

Focus on demand and potential for growth.
Use market research, surveys, and industry trend data to support your market forecast and projections.
Add a review of regulation shifts, tech advances, and consumer behavior changes.
Refer to reliable sources.
Showcase how your business can make the most of this opportunity.

3. Competitive Landscape Analysis

Since we’re already speaking of market share, you‘ll also need to create a section that shares details on who the top competitors are. After all, your customers likely have more than one brand to choose from, and you’ll want to understand exactly why they might choose one over another.

My favorite part of performing a competitive analysis is that it can help you uncover the following:

Industry trends that other brands may not be utilizing.
Strengths in your competition that may be obstacles to handle.
Weaknesses in your competition that may help you develop selling points.
The unique proposition you bring to the market that may resonate with customers.

Competitive Landscape Business Plan Example

I like how the competitive landscape section of this business plan shows a clear outline of who the top competitors are. It also highlights specific industry knowledge and the importance of location. This demonstrates useful experience in the industry, helping to build trust in your ability to execute your business plan.

Competitive Environment

Currently, there are four primary competitors in the Greater Omaha Area: Pinot’s Palette Lakeside (franchise partner), Village Canvas and Cabernet, The Corky Canvas, and Twisted Vine Collective. The first three competitors are in Omaha and the fourth is located in Papillion.

Despite the competition, all locations have both public and private events. Each location has a few sold-out painting events each month. The Omaha locations are in new, popular retail locations, while the existing Papillion location is in a downtown business district.

There is an opportunity to take advantage of the environment and open a studio in a well-traveled or growing area. Pinot’s Palette La Vista will differentiate itself from its competitors by offering a premium experience in a high-growth, influential location.

Tips for Writing Your Competitive Landscape

Complete in-depth research, then emphasize your most important findings.
Compare your unique selling proposition (USP) to your direct and indirect competitors.
Show a clear and realistic plan for product and brand differentiation.
Look for specific advantages and barriers in the competitive landscape. Then, highlight how that information could impact your business.
Outline growth opportunities from a competitive perspective.
Add customer feedback and insights to support your competitive analysis.

4. Target Audience

Use this section to describe who your customer segments are in detail. What is the demographic and psychographic information of your audience? I’d recommend building a buyer persona to get in the mindset of your ideal customers and be clear about why you're targeting them. Here are some questions I’d ask myself:

What demographics will most likely need/buy your product or service?
What are the psychographics of this audience? (Desires, triggering events, etc.)
Why are your offerings valuable to them?

Target Audience Business Plan Example

I like the example below because it uses in-depth research to draw conclusions about audience priorities. It also analyzes how to create the right content for this audience.

The Audience

Recognize that audiences are often already aware of important issues. Outreach materials should:

Emphasize a pollution-prevention practice
Tell audience a little about how to prevent pollution
Tell audience where they can obtain information about prevention.

Message Content

Focus the content for outreach materials on cost savings, such as when and where pollution prevention is as cheap as or cheaper than traditional techniques. Include facts and figures.
Emphasize how easy it is to do the right thing and the impacts of not engaging in pollution prevention.
Stress benefits such as efficiency or better relations with government, for businesses not primarily concerned with public image.

Tips for Writing Your Target Audience Section

Include details on the size and growth potential of your target audience.
Figure out and refine the pain points for your target audience , then show why your product is a useful solution.
Describe your targeted customer acquisition strategy in detail.
Share anticipated challenges your business may face in acquiring customers and how you plan to address them.
Add case studies, testimonials, and other data to support your target audience ideas.
Remember to consider niche audiences and segments of your target audience in your business plan.

5. Marketing Strategy

Here, you‘ll discuss how you’ll acquire new customers with your marketing strategy. I think it’s helpful to have a marketing plan built out in advance to make this part of your business plan easier. I’d suggest including these details:

Your brand positioning vision and how you'll cultivate it.
The goal targets you aim to achieve.
The metrics you'll use to measure success.
The channels and distribution tactics you'll use.

Marketing Strategy Business Plan Example

This business plan example includes the marketing strategy for the town of Gawler. In my opinion, it works because it offers a comprehensive picture of how they plan to use digital marketing to promote the community.

You’ll also learn the financial benefits investors can reap from putting money into your venture rather than trying to sell them on how great your product or service is.

This business plan guide focuses less on the individual parts of a business plan, and more on the overarching goal of writing one. For that reason, it’s one of my favorites to supplement any template you choose to use. Harvard Business Review’s guide is instrumental for both new and seasoned business owners.

7. HubSpot’s Complete Guide to Starting a Business

Screenshot of business startup kit download page from hubspot

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12 Unique Business Ideas to Inspire You in 2024

Stand out, solve problems and make your mark in these profitable business niches.

It’s easy to think up a business idea that’s already common in the marketplace, but coming up with a unique business idea takes courage and patience. To get started, ask yourself which innovations could positively impact your life. What is an issue affecting you or your loved ones? Once you’ve identified a problem and created a solution, your idea could prove valuable to a large audience, meet significant demand and lead to a successful business.

Uncommon business ideas tend to fill a void or address an overlooked niche. The following 12 examples demonstrate that game-changing companies can solve problems, generate innovation and be highly profitable. Use this list as a jumping-off point to brainstorm your unique business idea.

Disaster and emergency preparedness kit assembly and delivery

Amid climate change and natural and human-made disasters worldwide, starting a business that provides disaster and emergency preparedness kits is unusual yet sure to find an audience. For example, Ready To Go Survival was launched in the aftermath of Hurricane Sandy to provide personalized kits for anybody anticipating a disaster. Since then, the company has added additional resources, including survival consulting, survival gear, educational blog posts , skill-building tools and disaster research.

Plant consultant

Have a green thumb? Help other plant owners keep their greens healthy and thriving. For example, Nick Cutsumpas, better known as Farmer Nick, has provided exactly this type of consulting to people in New York City, alongside other plant-friendly services such as in-person plant shopping assistance. Farmer Nick has built an email list of “plant parents” eager to receive tools and insights via his newsletter . He also has a blog that provides a wealth of information and resources, plant-coaching services, images of client installations, and more.

Homemade meal kit creation and local delivery

Many people can’t get to the grocery store or are too overwhelmed with work and family obligations to prepare the fresh, healthy meals they’d like to provide for their families. If you have kitchen prowess, consider turning your passion into a passive income source that also provides a service to the community.

Several meal kit brands, such as Blue Apron and HelloFresh, have long offered similar services via online subscription models, but your unique business idea can help you forge lasting bonds with people in your area.

E-commerce that gets even

The online business I Do Now I Don’t started from what might initially seem like a niche concern: Its founder experienced a failed engagement and tried selling the $10,000 ring back to their jeweler, who offered only $3,500. I Do Now I Don’t is now an e-commerce site that sells gently used jewelry and other accessories.

Typically, the company offers sellers more money and buyers lower prices than traditional jewelry stores by eliminating the middleman – and driving sellers’ earning potential alongside the business.

Party (cleanup) committee

It’s no surprise that most people don’t want to clean their homes after a night of revelry. That’s where Hangover Helpers comes in. This company takes care of your post-party chaos and even provides breakfast (with your choice of “grease” or “green”) to ensure you’re feeling your best – without the added mess.

As innovative business ideas go, this seemingly niche service is in high demand among all regions and demographics, and it requires straightforward skills like cooking, cleaning and organization.

Package-free shopping

Consumers are increasingly concerned about wasted resources in the food packaging process. Cardboard, plastic, Styrofoam and twist ties are sometimes not recyclable, leading to environmental waste.

In response, Package Free Shop, a zero-waste pop-up shop in New York City, offers convenient and simple alternatives to single-use plastic products. The company also offers to ship its products with absolutely no plastic. Since opening, the company estimates that it has kept 48 million plastic straws, 132 million plastic bags, 674,000 plastic razors and 3.8 billion plastic water bottles out of landfills. This is an admirable achievement and plays to a growing market of consumers who want sustainable products and packaging .

Online baking

If you love baking and have the creative flair for selling yourself, an online bakery business like Santa Barbara’s Big Red Baking Company could be a great way to stand out and make money. Conducting business online helps aspiring bakers connect with customers without having to rent commercial baking space.

With social media apps like Instagram and TikTok, you can really show off your baking chops and attract hungry customers, especially as mobile and social media shopping continue to grow .

When you bring your baking business idea to life, you’ll need to understand and adhere to your state’s food business laws and ensure your health standards are up to code.

Flexible, shareable workspaces

Every day, technology makes it possible for employees and entrepreneurs to run their businesses and get the job done from anywhere. Businesses don’t necessarily have to rent office space or buy a building anymore.

For example, WeWork provides office space for the officeless, with flexible, month-to-month membership options for individual freelancers and large companies. Freelancers who prefer to work outside their homes can have a more reliable workspace than a local coffee shop, and companies and other teams can have a place to collaborate and hold meetings and events.

Online education a la carte

Do you ever wish you could go back to school or teach a course in a subject in which you’re skilled? Skillshare, founded in 2011, makes both of these goals possible.

The company allows experts to teach online courses on a subject they choose via short videos, while students can watch classes at their own pace and use the community to get feedback. Students can also take classes offline via smartphones and tablets if they want to learn on the go.

Unlike the high tuition rates of college or graduate school, Skillshare costs $99 per year. Half of that fee goes to pay the company’s teachers, so if you’re an expert in something, it’s a great way to make some extra money. And if you’re looking to learn new skills or brush up on old talents you can use to earn a side income, Skillshare allows you to do so right from home.

Skillshare also gives back. According to the company’s website, Skillshare donates a membership to a student through the company’s scholarship program for every annual membership purchased.

Travel-size food and necessities

While bigger might be better for some, Minimus takes a different approach. Operating for over a decade, the online company offers more than 2,500 individually packaged products, including travel-size toiletries and individual servings of various food items – everything from chips to Tabasco sauce.

The company was founded after the Shrater family noticed how much product they were wasting at the end of a trip to New Hampshire. Today, the company takes up two large warehouses in Los Angeles and employs dozens of workers. In addition to the individual items, Minimus sells premade kits specially designed for different uses, such as baby and family kits, outdoor kits, first-aid kits, and military care packages.

Fancy portable toilets for rent

For some events, the typical green, cramped portable toilet just won’t do. To address this seemingly niche need, Ahead with Class by ElizaJ came up with one of the more innovative business ideas out there, to much success. The company rents high-quality, clean and attractive portable restrooms for any outdoor event – perfect for hosting something a little more formal.

Each of ElizaJ’s individual restrooms includes fresh flowers, designer soaps and lotions, name-brand paper products, wicker wastebaskets, air fresheners, and fresh water. One option, the Powder Room, can accommodate events of up to 350 people and is designed to rival restrooms in the finest restaurants and department stores. ElizaJ has also launched a franchising model, allowing entrepreneurs to run their own portable restroom operations.

Custom board and card games

Kids who grew up wanting to design their own version of Monopoly or Clue can easily do so now with the help of The Game Crafter. The world’s first web-to-print game publishing company gives gamers the chance to create their own board games, customized playing cards and card games.

While designing and publishing a game used to be extremely difficult, The Game Crafter (founded in 2009 by JT Smith, Tavis Parker and Jamie Vrbsky) has simplified the process by providing templates, instructions, videos and proofing tools to help would-be game designers create a quality product. Users then can buy as many copies of the game as they like.

Game creators may find that The Game Crafter provides them with ample earning potential and unique business ideas. Creators who feel especially confident in their work can fully develop and sell their games via crowdfunding apps to earn passive income while mining their passions. After audience demand surpasses a certain threshold, creators may be able to turn their Game Crafter-developed ideas into full-time businesses.

Developing unique business ideas

Creating a unique business that fills a specific niche might seem daunting, but the results can be extremely rewarding. No matter the industry, new businesses seem to find spaces and needs to fill. Your idea’s potential is limitless if it brings innovation to unmet needs.

Bassam Kaado, Sammi Caramela, Brittney Morgan and Carlyann Edwards contributed to the writing and reporting in this article.

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24 Business Ideas That Could Be Worth Millions Focus on one of the many problems people have that you could help them solve.

By John Rampton May 28, 2021

Opinions expressed by Entrepreneur contributors are their own.

The advance of the internet has democratized admission to the world of entrepreneurship. From virtually anywhere in the world (provided internet access), makers can launch real, viable businesses capable of generating millions of dollars a year.

While technology has lowered the barrier to entry to starting a business, there's still an infinite supply of problems just waiting to be solved. With tons of ideas out there, the primary ingredient for building a startup -- besides time and a bit of luck -- is execution. You just have to get started. To get you started, here are 24 viable business ideas.

Gmail Extension Creator

Modern businesses rely on email to get their work done. There are dozens of opportunities to build Gmail extensions that automate parts of a professional's workflow to save time and money.

Related: 20 Gmail Hacks Only Savvy Users Know

Drone Videographer

Improvement in aviation technology has made it easier than ever to get a drone up and flying over a beautiful landscape or building. The commercial and residential real estate industries are practically begging for more drone videographers to serve their agents and home developers.

Related: Revolutionizing the Film Industry With Remote-Controlled Drones

FAQs Chatbot Builder

Companies waste dozens and dozens of hours a week answering support questions from their customers. Help them automate this process by using a simple chatbot.

Related: Top 10 Best Chatbot Platform Tools to Build Chatbots for Your Business

Drop Shipping Business Owner

You can start an e-commerce business without holding any inventory. This practice, known as drop shipping , offers a lot of opportunity if you can dominate the right niche.

Related: 6 Steps to Building a Successful Online Drop Shipping Business

Online Course Creator

If you know an industry or task really well, you can easily create and sell an online course that teaches people a new skill. You'll just have to invest the resources upfront that are necessary to develop the class.

Related: 8 Steps to Creating a Profitable Digital Course

Social Media Manager

You can run social media accounts for a number of different companies if you market yourself well. Advertise your ability to drive sales and increase ROI by leveraging the reach of multiple social channels.

Related: Tips for Running Your Best Social Media Campaign Ever

Online Influencer

It's a common dream nowadays to become an internet celebrity, and there's a reason: Building a wide audience on the internet can give you immense influence that can be monetized at scale.

Related: What I've Learned From Spending $10 Million on Influencer Marketing

Affiliate Marketing Partner

Affiliate marketing is a partnership that bloggers, content creators or marketers can have with an online retailer. The retailer pays a commission for every referral sale the partner sends their way.

Related: Top 10 Affiliate Marketing Tracking Software Platforms

Event Planner and Promoter

Restaurants, clubs and other physical venues often struggle to get customers in the door. Using your ability as a marketer, you can be compensated for directing traffic to these locations.

Related: The Price Is Right: Turning a Profit in the Event Planning Business

Real Estate Investor

In any market, there are opportunities for buying and selling real estate to make a profit. With a bit of capital, you can begin taking more risks on your assets and making long term investments in residential and commercial real estate. Just be sure to do your research before you get started.

Related: 8 Ways Real Estate Is Your Smartest Investment

Ghostwriter

You can turn your ability to write well and quickly into a serious business if you find the right clients. Try freelancer platforms like Upwork and Freelancer.com. As long as you provide consistent and quality content, over time, your business is bound to grow.

Related: The Entrepreneur's Complete Guide to Ghostwriting

Content Translator

Being fluent in another language can be extremely valuable to people who need their websites translated. Put up a simple website, and you can start charging for "translation as a service" for websites, documents and presentations.

Related: Going Global? 3 Strategies to Ensure Nothing's 'Lost in Translation'

Website Flipper

Using Flippa or any other online business marketplace, you can buy and sell projects, domains and websites. With the right eye, you can find great deals on promising ideas and turn them for a profit with just a small investment in the right areas.

Related: 7 Lucrative Online Jobs That Can Skyrocket Your Income

Newsletter Writer

Building a newsletter with an active following is an extremely lucrative business opportunity because advertisers will pay serious dollars to get their names in front of the right audience. Start with a small niche that you can really provide value to, and you'll likely see your subscriber list grow over time.

Related: 4 Steps to Building A Profitable Digital Newsletter

Freelance Designer

Learn how to use Photoshop or sketch, and you can start charging clients for your design work. As a freelancer , you'll be able to make your own hours and dictate your own progression as your business grows.

Related: The Non-Designer's Guide to Hiring a Great Freelance Web Designer

Personal Trainer

If you enjoy fitness and maintaining a healthy lifestyle, then personal training could be a prime business for you. There's always a market for it through people who are looking to get in shape -- and looking for someone to push them in the right direction.

Related: How To Add Wellness Coaching to Your Personal Training Business

Craigslist Flipper

Craigslist can be a goldmine finding deals that you can flip for a profit. There are plenty of resources available online that can help you identify the good deals from the rest of the pack.

Related: How to Make a Fortune With $100

Farmers' Market Seller

If you know any farmers in your area, you can reach out to them and offer to sell their products at farmers' markets. Rather than paying upfront, you can mitigate your risk by partnering with the farmers in exchange for commission.

Related: College Entrepreneurs Find a Green Niche in an Online Farmers Market

Paid Advertising Consultant

Most businesses rely on some sort of paid advertising to drive leads for their business. Become an expert at Google AdWords or Facebook ads, and you can start charging clients for managing their spend.

Related: Need Clients? The 5 Best Ways to Market Your Consulting Business

Whether it is for the ACT, SAT or just general schoolwork, many students could use support to do their best in different subjects. Become a resource that helps students succeed in the classroom, and many parents will likely be willing to pay you for the help.

Related: To Rapidly Enhance Your Business, Stop Selling and Start Teaching

Outsourced Assistant

Well-paid CEOs do not have the time or energy to worry about many of the administrative tasks that can come with the job. If you can give wealthy people their time back by acting as an outsourcd assistant, many will be more than happy to compensate you appropriately.

Related: What Successful Entrepreneurs Outsource to a Virtual Assistant

Believe it or not, you can turn a profit off of beinga "professional reviewer," or someone who reviews products by publishing thoughts about them online. It will take some time to gain some domain authority, but after a while, you could become a thougth leader in your space.

Related: A Top TripAdvisor Reviewer Talks About How Reviews Work, for Good and Bad

Becoming a life coach is as simple as determining which of your past experiences you can use to provide value to others. Whether it is providing actionable strategies or general advice, you can likely find a niche as a life coach or mentor.

Related: The 10 Best Cities For Starting a Life-Coaching Practice

Website Designer

There are plenty of companies and professionals out there who want a website to represent them online but don't have the skills to create it. Many are more than willing to pay for a quality website that will better display their brand image.

Entrepreneur Leadership Network® VIP

Entrepreneur and Connector

John Rampton is an entrepreneur, investor, online marketing guru and startup enthusiast. He is founder of the online invoicing company Due . John is best known as an entrepreneur and connector. He was recently named #3 on Top 50 Online Influencers in the World by Entrepreneur Magazine and has been one of the Top 10 Most Influential PPC Experts in the World for the past three years. He currently advises several companies in the San Francisco Bay area.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

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40 UNIQUE BUSINESS IDEAS

Unique Business ideas - Whether it’s a unique food, sport, therapy, or rental service, getting in at the forefront with the right Unique Small Business Idea can be incredibly lucrative. This detailed guide breaks down everything you need to create your own small business today!

Exploring your options? Check out additional small business ideas .

A baby chick looking at a different chick with wild purple-striped hair with the caption

Unique Small Business Ideas

We’ve broken down our top unique business ideas into seven categories including, specialty foods, sports and entertainment, pet businesses, and many more. We've ranked their startup costs, required skill level, and earning potential to help you decide which unique small business idea is right for you.

1. COOKIE DOUGH CAFE

Spoon dipped into a bowl of cookie dough

Professional bakers or baking enthusiasts with a good sense for business may consider selling edible cookie dough. While this business can certainly remain small, the growth potential is huge. You may expand locally, regionally, and even nationally while still keeping costs low since the product can easily be shipped.

The earning potential of this business is great, considering the high markup potential of this specialty product. While costs will increase if you decide to open a brick and mortar shop, with enough business-savvy and sales, profits can grow quite high.

Learn how to start a cookie dough cafe .

2. OLIVE OIL STORE

If you have retail experience and a love for fine, specialty foods, an olive oil store may be a good fit for you. In addition to experience managing a retail operation, you’ll need be able to speak with customers about olive oil with some degree of expertise. While not necessary, cooking and teaching experience can be very helpful as hosting cooking classes and workshops can boost interest and profits.

Opening an olive oil store requires a fairly large investment to ensure your storefront is located in an area with significant foot traffic from high-end customers. The growth potential for this business is somewhat uncertain, but with more and more customers seeking premium, artisan products, the right business plan can lead to profits of 10% to 15% on sales and even more on classes, workshops, and other special events.

Learn how to start an olive oil store .

Ready to form your LLC? Check out the Top LLC Formation Services

And, use our free tools to help start your business:

Use our Business Name Generator for help brainstorming your new venture’s name
Learn how to form an LLC , one of the best business structures for unique businesses
Use our free business plan generator to start planning your business today
Get your unique logo with our free Logo Maker and start branding your business
After finding your perfect idea learn how to start a business

3. GOURMET POPCORN SHOP

Dispensers full of different types of popcorn

If you love popcorn and are creative in the kitchen, a gourmet popcorn business may be a good fit for you. This is another great business idea that gives you the flexibility to stay small or expand. You may sell from home, open a store, or get your products on the shelves of food stores across the country. There are also a considerable number of resources available for those looking to learn the ropes of the gourmet popcorn business before opening.

Startup costs vary considerably, depending on whether you start by operating out of your home, renting a storefront, or even buying a franchise. However, because of the significant price markup, selling gourmet popcorn can potentially be quite profitable, with some national brands worth millions of dollars.

Learn how to start a gourmet popcorn shop .

4. SEA SALT BUSINESS

Anyone who is self-motivated, likes working with their hands, and has access to seawater may consider starting a sea salt business. Owners will need some level of expertise to recognize the best locations, seasons, and times to source the salt. This requires at least basic knowledge of tides, currents, and sea levels.

Once you’ve pinpointed the best source for your sea salt, the startup costs for your business are very low. You can get started with a few buckets and jars, a food processor, and a means of evaporating the sea water you collect. The low costs, virtually unlimited supply of free raw materials, and high markup potential mean a sea salt business can be extremely profitable.

Learn how to start a sea salt business .

Find a Web Domain for Your Unique Business

Securing a web domain and creating a quality website is important for the overall success of your unique business.

Find a Domain Now

Axe-throwing parties are one of the many unique niche entertainment options popping up across the country. Anyone who enjoys games and entertainment may enjoy running this exciting business. Experience with axe throwing is useful, but not required.

Insuring an axe-throwing business can be expensive due to the inherent risks involved and the novel nature of the business. If you put in the time and money, though, there is a good deal of growth and profit potential. A successful axe-throwing party business has the potential to make six figures, with larger businesses realizing revenue beyond $1 million annually.

Learn how to start an axe throwing business .

6. ESCAPE ROOM BUSINESS

Creative individuals who love playing games and have a keen attention to detail may be good candidates to start an escape room business. While formal education and experience aren’t required, a background in design or other creative fields can be very helpful.

Escape rooms are a new and growing niche entertainment business that has blossomed over the past decade. While it’s hard to say how far this industry may grow, it continues to be a popular choice for a variety of people from small groups and parties to corporations looking for team building activities. Startup costs are moderate, as you will have to rent a location and design and furnish the room. However, a successful escape room business can bring in considerable profits, well into six figures.

Learn how to start an escape room business .

7. CHALLENGE COURSE

Skilled marketers and salespeople who have an interest in outdoor activities and experience in military or police training, summer camps, or corporate training are uniquely qualified to run a challenge course business.

Whether it is an obstacle course, high-ropes course, zip-line, or other adventurous activity, startup costs are significant and include land, insurance, and quality staff members. However, these businesses continue to grow in popularity, attracting individuals, families, parties, and corporate clients. With the right marketing and business plan, even small challenge course businesses can bring in six figures. Larger businesses can make millions of dollars annually.

Learn how to start a challenge course business .

8. RAGE ROOM

Creative thinkers and marketers with access to cheap, breakable items could turn a profit by letting customers smash things in a rage room. This is a relatively new idea, but one that can have widespread appeal. From parties looking for a unique experience to people looking to let off some steam after a breakup or job loss, a rage room can provide both entertainment and catharsis for its customers.

Startup costs are moderate, with a space for the rage room, storage, breakable objects, and liability insurance among the biggest expenses. Growth potential and profit will vary depending on your particular business model and price structure, but as popularity grows business owners may have the opportunity to expand into additional locations or even franchises.

Learn how to start a rage room .

9. INDOOR TRAMPOLINE PARK

Feet suspended in air above a trampoline surface

If you enjoy interacting with people and having fun, you may be well suited to operate an indoor trampoline park. As with all businesses, strong marketing skills will give you an advantage over the competition.

Startup costs for this business are high, as it requires a large, open indoor space and a lot of specialty equipment. However, this is a growing industry. Those in a market with no competition can be especially successful, drawing customers from a wide area and potentially expanding to multiple locations in their region. If you have the money to invest upfront, an indoor trampoline business can see a profit margin of 25% or more, with profits well into six figures.

Learn how to start an indoor trampoline park .

10. FOOTBALL BOWLING BUSINESS

Another growing niche game that may be a good business opportunity for an outgoing person who enjoys fun activities is football bowling. Also known as bombowling or fowling, this activity entails throwing a football down a lane to knock down bowling pins. In addition to knowing the rules of the game, general business knowledge is critical for success in this new and fairly unknown business.

Startup costs are substantial, as the game requires a large amount of customized indoor space. Earning potential depends primarily on how many customers you can attract, but with the right marketing and a solid customer base, profits can be significant.

Learn how to start a football bowling business .

11. NERF ARENA

Photo of many people posing for a photo with Nerf guns

A Nerf arena is another business idea that’s great for outgoing savvy individuals looking to run a fun, fast-paced business. While the typical target customers are younger people, aged six to fourteen, many Nerf arenas have found they can increase revenue by also appealing to corporate and other adult groups.

Startup costs are fairly high, as a large amount of indoor space is required, along with things like equipment and insurance. Because of the high maintenance costs and lower rates charged to customers, earning potential is not as high as some of the other businesses in this category. However, a successful Nerf arena owner can still bring in a profit of around $50,000 per year.

Learn how to start a Nerf arena .

12. GAME TRUCK BUSINESS

Pile of various video game console controllers

If you enjoy video games and interacting with children, operating a mobile game truck business can provide a unique opportunity. Strong business management skills and a willingness to work on weekends are also important. While the mobile nature of this business removes the cost of renting a permanent space, the cost of outfitting the truck or trailer is still fairly substantial.

Gaming is a huge and booming industry, meaning growth potential for any related business is generally strong. Once established, low overhead costs mean game trucks can bring in a good amount of money from each event. If you’re able to book steady business, there is great potential to make some excellent profits.

Learn how to start a game truck business .

13. NINJA WARRIOR GYM

An outgoing individual who has an interest in fitness and entertainment may be a good fit to operate a ninja warrior gym. Popularized by the TV show American Ninja Warrior, this business draws in a variety of clients. It is important for an owner to be comfortable interacting with different people and to have some general knowledge about running a business to keep people coming back.

Startup costs are high, with the business requiring a large space, special equipment, and good insurance coverage. However, the growing appeal of ninja warrior gyms means your business has great growth and earning potential.

Learn how to start a ninja warrior gym .

14. PROFESSIONAL MERMAID

Woman dressed in a mermaid costume diving in a reef

Professional mermaids have grown in popularity in recent years. This quirky business idea may be a good fit for a strong swimmer who enjoys acting and interacting with people.

While high-end costumes can be expensive, startup costs can be kept quite low for this business since it can easily be run by booking clients entirely online. As a highly specialized business, professional mermaids can charge a high hourly rate. With regular bookings, this can be a quite lucrative business, bringing in $1,500 or more per week.

Learn how to start a professional mermaid business .

15. PARTY BUS BUSINESS

Interior of a party bus, lit with neon lights with full-length couches on either side.

If you are experienced at coordinating events, enjoy working with people and providing customer service, and can think quickly on your feet, a party bus may be a good business for you. Party buses have become a popular choice for a wide range of customers looking for a fun, unique, event that’s easy to plan.

Startup expenses are substantial, with the cost of buses, salaries, and insurance among some of the biggest. You’ll also have ongoing expenses for gas and maintenance of your buses. However, with the high hourly rates you can charge, it’s possible to bring in a respectable annual profit of $50,000 or more.

Learn how to start a party bus business .

16. CONTENDER ESPORTS FRANCHISE

A Contender eSports franchise is another great business opportunity that taps into the ever-expanding video game market. No formal education is required, but a strong work ethic, marketing skills, and a love of gaming will help increase your odds of success.

Startup costs are high since Contender requires all franchisees to have liquid assets of at least $50,000 and a net worth of $300,000. In this growing industry, the earning potential depends largely on your ability to attract customers. With a solid marketing strategy and consistent customer base, you’ll have the potential to make excellent profits.

Learn how to start a Contender eSports franchise business .

17. VINTAGE MAPS STORE

A very niche business, this is a good fit for historians and amateur map collectors who are passionate and knowledgeable about the topic. Many vintage maps business owners start out as hobbyists and then go on to establish galleries that house large collections of vintage maps.

Startup costs depend on whether you want to open a retail storefront or operate online, as well as the amount of inventory you want to carry and what you may or may not already have. As a niche market, growth can be limited. However, as accessibility to vintage maps decreases, the potential to expand your influence within the market increases, along with your earning potential.

Learn how to start a vintage maps business .

18. BONSAI TREE BUSINESS

Selling bonsai trees can be a good option for gardeners and stay-at-home workers looking for both a satisfying hobby and a business venture. While no formal education is required, owners should familiarize themselves with the various types of bonsai trees, best growing conditions, and basic techniques for raising the trees and helping them thrive.

Startup costs for seeds and other materials are relatively low, and you can turn a good profit once the trees are grown, provided you can wait 3–5 years. Bonsai are considered "high-value" trees that increase in popularity each year, especially with urban customers who lack the space to grow full sized trees. While profit margins are high, earning potential is limited by how many trees you’re able to cultivate and sell.

Learn how to start a bonsai tree business .

19. DRIED FLOWER BUSINESS

A variety of dried flowers with a mortal and pestle

An individual who enjoys gardening, understands how different types of flowers react to different drying methods, and is looking for a way to make some part-time income may consider operating a dried flower business. Normally this business is done as a side venture to a person’s full-time job, but it doesn’t have to stay that way.

A flower drying business can grow exponentially if you establish yourself in a community as the go-to for decorative plants or sentimental keepsakes. Start up costs are low, especially if you already have a suitable space for growing your own flowers. Even as a side business this venture has the potential to bring in serious profits.

Learn how to start a dried flower business .

20. DART STORE

A dartboard with three darts in the bullseye

This niche business is ideal for an expert in darts or a master craftsman who can create a product or provide service that sets their business apart from other suppliers. With a number of online vendors of dart equipment, a dart store should focus on quality and expertise. Those who can cultivate a unique style or specialty will shine in this industry.

Startup costs will vary depending on the space you choose and the raw materials used in your products. Growth can be slow since expensive, high-quality products are made to last. However, with the right products and marketing strategy, there is an opportunity to make significant profits since top-of-the-line darts equipment can be priced quite high.

Learn how to start a dart store .

21. WIND CHIME BUSINESS

A wind chime business can be a good fit for anyone with an artistic, creative ear. Whether you craft the chimes yourself or purchase them from artists and craftsman, the ability to identify calming and beautiful sounds is vital.

If you choose to run this business out of your home, as many do, startup costs are quite manageable. With low costs and the opportunity for a large markup, those with consistent sales can make a fairly good profit with this business.

Learn how to start a wind chime business .

22. VINTAGE TOY STORE

A vintage toy store is an excellent venture for avid toy collectors and enthusiasts looking to turn their hobby into a lucrative business opportunity. Having experience finding and purchasing rare toys is important, along with the general business knowledge to properly market your toys to the best audience.

Startup costs are moderate, with the biggest expenses being rent for a storefront and inventory. Some business owners may choose to start their business online before expanding into a brick and mortar store, and many maintain an online presence even after opening. If you are good at finding a variety of valuable toys at good prices, the profits can be significant.

Learn how to start a vintage toy store .

23. STAINED GLASS BUSINESS

An abstract, multi-colored stained glass window

While general artistic abilities and knowledge of how to run a business are important, high levels of specific knowledge and skills are also required to run a successful stained glass business. Stained glass is generally viewed as a long-lasting work of art, and customers expect top quality.

Stained glass is an ancient industry that’s been beautifying homes and buildings for hundreds of years. Startup costs can be kept relatively low since most owners do business out of their home. With the internet available as a valuable tool to reach a wide customers base, the earning potential of this business is good. How far you grow will largely depend on who you market to and how much product you’re able to produce and sell.

Learn how to start a stained glass business .

24. CUSTOM DOLL BUSINESS

Most people who get into the custom doll business started out making dolls as a hobby. Knowledge of how to work with different types of materials can be useful to increase the types of dolls you can make. Being flexible and able to respond to the particular demand in your market will help you succeed.

Startup costs are quite low, but custom dolls is a very niche market with limited growth potential. Making each doll takes a good deal of time and effort, and there is a fairly low price ceiling. While you can definitely turn your hobby or craft into a profit, the low numbers mean it is much better suited as a supplemental income steam.

Learn how to start a custom doll business .

25. CHICKEN DIAPER BUSINESS

The chicken diaper business suits a pretty specific type of person: someone who is creative, a good sewer, and who has experience owning or raising chickens. This business has grown specifically out of a rise in urban chicken raising, so enthusiasm for this field is important for bringing in customers.

While the industry is on the rise as thousands of people in cities around the country have become interested in raising chickens, it is still a small and fairly limited market. Even with very low startup costs, it can be difficult to make more than a small supplemental income. Still, this can be a very fun side business.

Learn how to start a chicken diaper business .

Start a Home Business in Your State

26. tiny house business.

A tiny home sitting in the middle of a meadow

If you are involved in construction, architecture, or another part of the real estate industry, the tiny house business can be a fun and profitable way to use your experience.

Startup costs vary based on the specifics of the homes you build and the real estate market in your area. Because this business requires fewer materials and less land than traditional home building, costs are generally manageable. With the current popularity of tiny houses, builders can make a sizeable profit on each home.

Learn how to start a tiny house business .

27. CUSTOM TREEHOUSE BUSINESS

Individuals with a background in construction or engineering who understand tree growth patterns and enjoy being outside can be a great fit for building custom treehouses. Carpentry skills and the ability to communicate effectively with your customers are also important.

Startup costs can vary, depending on the size of your staff, the materials you use, and the type of treehouses you choose to build. The complex nature of each build can place a limit on how far you can expand, but the high markup means successful treehouse businesses can be extremely profitable. Completed treehouses can sell for anywhere from in the thousands of dollars to over a million, depending on your customer base.

Learn how to start a custom treehouse business .

28. SENSORY DEPRIVATION TANK BUSINESS

Individuals with spa service experience and the ability to afford high startup costs may want to consider a sensory deprivation tank business. This is a relatively new industry that appeals to a niche audience, but as it grows in popularity there will be room to expand into new regions and markets. However, strong marketing and customer service skills will be critical to ensuring the business takes off.

You’ll also need to make a considerable investment to get your business started, with costs for a two-tank set up easily surpassing $200,000. However, once you’re up and running, this setup can net more than $100,000 per year for successful business owners.

Learn how to start a sensory deprivation tank business .

29. PROFESSIONAL MEDITATION BUSINESS

Children sitting in lotus position on their school desks

If you have a long history of practicing meditation and enjoy working with and teaching others, a meditation business may be a good fit for you. The more experience you have with different styles and methods of meditation, the more customers you can appeal to.

People are always looking for a way to slow down and relax. The recreational therapy industry, of which meditation is a part, is slated to experience 12 percent growth over the next few years, making this an excellent, growing industry to join. Earning potential varies by region, but the average salary for a recreational therapist in the U.S. is around $47,000.

Learn how to start a professional meditation business .

30. HOT TUB GARDEN

The ideal hot tub garden business owner believes in the relaxing, therapeutic potential of hot tubs and also has strong marketing skills. Basic mechanical skills can also be useful to deal with any potential issues with the tubs, as well as to perform general cleaning and maintenance.

Hot tub gardens are a fairly new concept, allowing customers to enjoy a hot tub in a private space, paying by the hour. Startup costs are in the tens of thousands of dollars or more, so you’ll need to be prepared to make a significant upfront investment. However, a successful hot tub garden business can be quite profitable, possibly bringing in high six-figure income each year.

Learn how to start a hot tub garden .

31. AROMATHERAPY BUSINESS

A bottle of essential oil next to a sprig of lavender

If you are passionate about helping others through homeopathic methods, and you also have a heightened sense of smell and the discipline to handle the day-to-day requirements of running a business, aromatherapy may be a good venture for you. Aromatherapy businesses cater to people looking for more natural remedies for common problems like stress and insomnia.

Homeopathic and other alternative therapies have become more popular in recent years, allowing for a good deal of growth in the industry. Startup costs are generally manageable, especially if you are not renting a storefront, and earning potential is solid. Business owners report earnings of anywhere from $30,000 to $100,000 per year.

Learn how to start an aromatherapy business .

32. REIKI BUSINESS

Woman laying down with another person's hand hovering over her head

A Reiki business isn’t for everyone, but those who have experience with this practice may enjoy starting their own venture to share it with others. Reiki is a Japanese technique for stress reduction and relaxation that promotes healing. It’s based on the idea that an unseen "life force energy" flows through us and gives us life.

Startup costs will vary depending on your specific business plan. Many practitioners begin working out of their homes, minimizing costs early on. Your company’s growth potential is directly tied to saturation of the market, the needs of the area you serve, and the number of practitioners you’re able to hire. Innovative entrepreneurs in this field strengthen their business by offering a well-rounded practice that combines multiple types of therapy to meet all their client’s needs. Reiki practitioners report annual profits between $39,000 and $73,000.

Learn how to start a Reiki business .

33. GOAT RENTAL BUSINESS

If you own goats or have the space to accommodate them, you may consider starting a goat rental business. Sometimes known as goatscaping, this business lends goats to people looking for a natural and environmentally friendly way to cut and even fertilize their property. Business owners will need to be familiar with keeping and caring for goats.

Startup costs vary depending on your situation. You’ll need goats, enough room for them to live, and a trailer to transport them to your customers. You’ll also need to cover all the expenses required for continued maintenance of the goats. If you already own goats, this business can be extremely affordable to get started. For those starting from scratch, costs are moderate to high. Earning potential depends on how many goats you have, but you could expect to earn around $750 per week during grazing season for each four-goat herd.

Learn how to start a goat rental business .

Learn more about starting a business by visiting the U.S. Small Business Administration .

34. CHICKEN RENTAL SERVICE

Much like a goat renting business, a chicken rental service is an excellent business opportunity for anyone who already owns a chicken farm or has experience raising chickens. Chicken renting allows non-farmers to rent chickens for the purpose of egg laying without the responsibility of owning a farm or taking care of them long term.

If you’re already an established chicken farmer, startup costs are quite low. However, rental prices for two chickens for six months is typically only between $250 and $500, so it can take time and a large number of chickens to start making significant income.

Learn how to start a chicken renting busines .

35. GLAMPING BUSINESS

A glamping business can be a good endeavor for an individual who has a background in the hospitality business and an attractive piece of available land. Glamping, or glamorous camping, appeals to people looking for a camping experience without having to rough it in a traditional tent or campsite.

Startup costs can be considerable, as glamping tents can cost tens of thousands of dollars. This business is really ideal for folks who already own a large piece of land like a farm, hunting ground, or coastal property that can be converted for at least part of the year. Earning potential varies depending on the location and the quality of the tents, but with nightly rates ranging from $50 to over $3,000 and fairly low ongoing maintenance costs, this business also has a great potential to bring in large profits.

Learn how to start a glamping business .

36. PET HOTEL

Animals lovers with business skills may enjoy operating a pet hotel. While not necessary, experience working in an animal shelter, boarding facility, or vet’s office can be helpful. A pet hotel is essentially a luxury kennel, offering high-end care for pets while their owners are away.

Startup costs are moderate, typically running between $25,000 and $85,000 depending on location and the size of your establishment. The pet grooming and boarding industry is huge, generating over $8 billion in revenue each year, with an average annual growth of 6.6%. With a good location and steady business, owners can see profits around $40,000 in their first year, with the potential for much more over time.

Learn how to start a pet hotel .

37. PET BAKERY

Someone passionate about pets and pet nutrition may want to consider starting a pet bakery business. Knowledge about pet nutrition is essential, and veterinary experience can be extremely helpful. Pet bakeries provide specially formulated pet foods using more natural, high-quality ingredients.

Startup costs vary depending on the size and business model, but selling online and using your home kitchen can keep expenses very low. While many start out small, there is a great potential to grow over time, increasing both online sales and the reach your products have across retail stores. Earning potential can be quite high, with nationally recognized brands bringing in millions each year.

Learn how to start a pet bakery .

38. CAT CAFE

A kitten sleeping in a teacup on a glass cafe table

Outgoing and personable cat lovers can be a good fit for this increasingly popular business. Cat cafes offer people a place to relax with friends and felines, while they also enjoy a beverage or meal. In addition to serving human customers, many cafes also help the cats they house by making them available for adoption. While not required, experience running or working in a cafe can be very helpful.

Startup costs are fairly substantial, with the expenses of renting and running a cafe plus providing adequate space and care for your cats. This business model is still very new in the United States, but success in Asia and elsewhere shows that cat cafes can become extremely popular and successful.

Learn how to start a cat cafe .

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Written by Jesse Sumrak | November 10, 2023

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So you want to find a new product idea to sell online? Well, chances are you typed something like “new product ideas” or “good product ideas” into Google, hoping you’d find the answer.

Nothing wrong with that.

However, the problem is you’re searching (and finding) the exact same thing as everyone else. These “new” ideas really become what everyone’s already doing and selling.

We’re not going to list out a bunch of product ideas here—that’d defeat the purpose of you finding what your customer needs .

Instead, we’re going to show you how to come up with new product ideas (that don’t suck) you can sell online. Your brand-new ideas might be inspired by products that exist, but you’ll be empowered with creativity and freedom to make them your own.

Remember good ol’ Henry Ford? There’s a quote attributed to him that goes like this: “If I had asked people what they wanted, they would have said faster horses.”

This article will help you give your customers what they need instead of just faster horses.

Table of Contents

What Makes a Product Idea “Good”?

How to Find Your New Product Idea

How to Validate Your Product Idea

Create a Strategy

How to Make Your Product Different and Better

New product ideas faqs, what makes a product idea “good”.

First, let’s help differentiate the good product ideas from the bad ones. Here’s a few tell-tale signs of each:

Signs of a Good Product Idea

Addresses a Need: Good product ideas solve problems. These can be huge problems (like Elon Musk battling climate change) or minor problems (like alleviating someone’s body odor). Don’t set out to find a product. First, find the problem. Next, find (or build) the perfect product to solve it.
Provides Solid USP: Your product needs a unique selling proposition (USP) that makes it better than any other product on the market. That USP could be related to features, pricing, scalability, or even speed of delivery. A good product could be exactly what’s on the market, but maybe your manufacturing is more scalable, so you can drive down prices for customers? That’s a new product idea.
Has Profit Potential: The best idea is just a notion unless you can make a plan to (1) create it and (2) make it profitable. That means you’ll need to consider expenses, pricing, supply and demand, the size of your addressable market, and current competition. Can Be Easily Communicated: You’ll likely need to secure funding from lenders or investors. If your idea’s too complex, you will struggle to get financing. Plus, your customers will face a barrier to entry.
Makes You Happy: Don’t start selling a product you don’t care about—that’s a recipe for a sleazy MLM. You should be able (and excited) to attach your name and photo next to your product. That’s a sign you’re proud of it.
Is Worth Paying for: There are plenty of products out there that make you think, “Oh, cool!” However, you don’t want to just impress passing-by customers—you want them to open their wallets. Ensure your product is worth paying for and not just a fun concept.

Red Flags of a Bad Product Idea

Offers No Identifiable USP: Your customers should be able to identify your USP. If they can’t figure out what makes your product different from the rest, then it’s likely inadequate.
Confuses Customers: If you have to convince customers it’s a good product, it’s probably not. Your product should be able to market itself without a 60-minute infomercial.
There’s No Demand: Some problems aren’t worth solving. You’ll need to validate your product idea to ensure your target market doesn’t just think it’s a good idea, but they’re willing to spend their hard-earned money to buy it.
It Already Exists: Do your research. There are many entrepreneurs out there, so ensure your new product idea doesn’t already exist. If it does (or did), learn more about it. How’s it doing? Why did it fail (or succeed)? How can you do it better?

Write these ideas down, and share them with someone you trust. If you come up with a product idea you’re in love with, you’ll likely see all the good and none of the bad. It’s natural. However, if you give your idea an objective look-through, you could discover fatal flaws before it’s too late.

Foundr plus dollar trail ecommerce banner

Now that you know what you’re looking for, it’s time to start searching. If inspiration comes from mountain meditation or long hikes in the wilderness, go get after it. But if those product-finding methods let you down, here are some places to start:

1. Ask Your Customers

This approach goes against Henry Ford’s famous quote, but your customers almost (almost) always know best. Start there.

If you have customers, send out surveys or conduct interviews to figure out their problems. If you don’t have customers yet, identify your target market and start there.

You could even find a subreddit you’re interested in and open up conversations there. For example, if you’re into hiking and want to find a product idea that solves hikers’ needs, you might join the r/Hiking, r/Backpacking, or r/Ultralight subreddits. Browse the conversations there, probe into complaints, or just flat out ask people what they want.

You could start by asking what’s challenging them or what they would like fixed. Dig deeper and ask what they think could solve it. They might not always know the answer to the second question, and that’s OK—that’s ultimately your job to figure out.

Once you identify a problem, start determining your customers’ willingness to pay to fix it. If it’s nothing (or not a lot), it’s probably not an issue worth solving.

If the problem is worth solving, start thinking of a product. Don’t worry about perfecting the design and all the components just yet. Once you have a prototype or a draft, ask your customers if they would be interested in something like this. If the answer is “yes,” then you know you’re on the right track.

Don’t Skip: Ecommerce Business Ideas That Yield Powerful Results

2. Spot What’s Hot

Look for what’s trending on ecommerce sites or social media platforms. What’s doing well? Why? Can you replicate it and make something better?

For example, if everyone is raving about online learning, is there a course you can create to solve a need? If a course already exists, can you make one that’s better or more affordable?

Remember, fads come and go. If you jump into a trend early, you can capitalize on the moment and get out before it cools off. If you join too late, you might end up investing in a product with quickly diminishing demand.

One way to ensure you stay on track is spotting needs within the trends. For a while, air fryers were a hot topic across the news and social media feeds. However, they didn’t solve any desperate needs—they just gave people new healthy-ish ways to cook food. After a while, the hype petered out, and now there’s a bunch sitting unused in consumer’s closets.

3. Don’t Be Afraid to Steal

“Good designers copy, great designers steal.” These famous words spoken by painter Pablo Picasso apply to much more than design. You don’t need an entirely original idea—you just need to copy, steal, and iterate to make the next best thing.

Even smarty-pants Elon Musk didn’t do anything exceptionally revolutionary—he just took a popular model of cars (which have been around for over a century) and made them electric, powerful, sexy, and exclusive. OK, he did more than that, but you get the idea.

Or take a look at Jibbitz . Jibbitz capitalized on Croc’s popularity (still don’t understand why people wear these shoes) by creating charms to let wearers personalize their footwear. Jibbitz essentially piggybacked on another brand’s success to hit it big, and Crocs ended up buying the tiny startup for $10 million .

You could also think about all of today’s social media apps. Remember when Instagram stole Snapchat’s model and added Stories to their platform? And then every other social media platform did the same thing?

Or remember when Bird and Lime started littering every city in the US with electric scooters? A couple of months later, Uber, Lyft, and several other brands were already on the scene.

You don’t need to come up with something brand-new. Borrow, steal, and Frankenstein your own product idea—just make sure it has a USP that beats out the competition.

Top 6 Tips on Finding the Best Ecommerce Supplier

4. Think of Upsells and Cross-Sells

If you’re already selling goods, you don’t necessarily need an out-of-the-box product. A closely related product has the potential to succeed, and it also could boost your existing merchandise sales.

For example, if you sell shoes, you could expand into shoelaces or socks. If you sell online courses, you could expand into e-books or in-person classes.

While you’re thinking about it, look at ways you could improve your existing product. Are there simpler, cheaper or more robust, costly versions you could provide? For example, you can find about 3 different models of every new soccer footwear: budget-friendly, middle-of-the-road, and premium.

Can you do the same thing with your products? If you sell an online course, you could have a condensed cheaper version or a more comprehensive expensive version.

5. Find Your Own Problems

You (yes, you) are a consumer, too. What problems do you have? Is there a day-to-day issue you wish you could solve? There’s a good chance your personal persona belongs in a niche market—if you can find a problem you want to solve, there might be other individuals (hopefully lots of them) with the same issue.

Don’t worry—we’ll get into validating your idea later to ensure it has legs to stand on. But don’t discount your problems. This method doesn’t take long processes or intensive research. Just think about what really bothers you and how you wish you could solve it.

Take Airbnb, for example. Founders Joe Gebbia and Brian Chesky struggled to pay rent, so they decided to rent out airbeds on their living-room floor to conference attendees in San Francisco. The next day, the pair created a website—6 days later, they had 3 tenants sleeping on their floor.

Codeacademy started as a Columbia University programming club . Co-founder Zach Sim struggled to learn new coding skills on his own, so programming native (and cofounder) Ryan Bubinski used Sims as a guinea pig to create a self-paced learning experience that became Codeacademy.

Don’t overlook your own problems. Create a solution that’s worth paying for, and you’ll likely find other customers just like you.

6. Experiment with AI Tools

Consider artificial intelligence (AI) tools as your best friends when it comes to ideating on new product ideas. They might not be as reliable as a mentor or co-founder, but they can quickly help you sift through ideas and automate a lot of the validation process.

For starters, ask ChatGPT about potential product ideas in an industry or sector that interests you. Have a conversation with the AI to narrow things down. Provide it with feedback to help refine future responses. You’d be surprised how clever it can be in helping you figure out your own thoughts.

Beyond the first ideation stage, you can also use AI tools to help with everything from market insights and competitor analysis to prototyping and trend forecasting:

Market Insights: AI can analyze vast amounts of data to identify market trends, consumer preferences, and emerging needs. Use a tool like Crayon to provide market intelligence which can help in discovering new product opportunities.
Competitor Analysis: AI tools can automate the tracking of competitors’ products, prices, and customer reviews, which can spark ideas for new or improved products. Try a tool like Kompyte to track competitors in real time to inform strategic decision-making.
Prototyping: AI can help in creating prototypes and simulating how products will perform under various conditions. Tools like ANSYS Discovery offer real-time simulation to quickly evaluate design alternatives.
Trend Forecasting: AI can help predict upcoming trends, which can be invaluable for product development. Tools like Trend Hunter use AI to identify and forecast trends to help you stay ahead of the curve.

How I Start a Business Using AI | Tony Matusiak

Validate. Validate. Validate.

Have an idea for a product? Fantastic! Don’t do anything with it yet.

Hear us out.

Before you go off to the races or start digging down deep into rabbit holes, validate your product idea. You don’t want to devote any time or money (or worse—get personally attached) to an idea that’s going to crash and burn.

While we can keep asking theoretical questions and playing with ideas, sustainable businesses are only built when money changes hands. If it’s going to succeed in the long-term, it needs to pass a stress test. Here’s how to do it:

Smoke Test With a Landing Page

Build a landing page that highlights the benefits (and pricing) of your product. Drive traffic to the page with organic (social media and email) and paid (PPC ads) strategies, and then see what your customers do.

Do they click the “purchase now” button, or do they leave without taking action? Set a click-through rate goal for what you want the page to achieve. If it hits that goal, then you can feel confident in actually creating and scaling the product. If not, then you might want to rethink your idea.

This smoke test helps you find out if people are really willing to buy your product. Friends, families, and colleagues might say your idea is great, but a real audience with real money will give you the cold, hard truth.

The whole process for your smoke testing landing page should only take a few days. Don’t spend too much time making a fancy landing page—keep it minimal with the basics.

At foundr, we’ve launched a lot of online courses, and we make it a practice to validate every one before we put in the time and money to make it a reality.

Flesh Out Your Entire Strategy

GTM. Manufacturing. Shipping. Financing. All of it. Figure out the logistics of how your new product idea is going to come to fruition. Do all of this research before you start building prototypes and websites.

You might find a logistical component that shuts down the whole product idea, so do your due diligence:

Sourcing Your Product: How are you going to build or buy your product? Do you have enough money and resources? If it’s something like an online course or e-book, do you have the skills and bandwidth to bring it to fruition? If not, can you hire someone?
Go-to-Market (GTM) Plan: How do you plan to launch and market your product? What price does it need to be to beat out competitors, draw in customers, and help you earn a profit? What channels will you need to use to reach your audience?
Shipping: How will you get your physical or digital product from you to your customers? Will it be through email or the post office? Will they need a login, or will it be a downloadable product?
Financing: Where are you going to find the money to make this happen? Do you have a rich uncle, or will you need to ask a bank for a loan?

It’s a lot to think about. We know. Yet it’s critical you think about all of these things before pursuing a new product.

The best idea could check all your boxes, but if you don’t have the money, time, or means to make it happen, it’s not going to be a good idea.

Top 5 Mistakes to Avoid When Sourcing Products from China

Unique Value Propositions

A Unique Value Proposition (UVP) is a clear statement that explains how your product solves customers’ problems or improves their situation. It delivers specific benefits and tells the ideal customer why they should buy from you and not from the competition.

Crafting a compelling UVP requires a deep understanding of your customers’ needs and desires, as well as the market landscape.

Different Is Better than Better

In a competitive market, being different often holds more value than merely being better. Differentiation creates a blue ocean of opportunity, whereas being better often leads to red oceans where competition is fierce.

Aim to redefine the problem you’re solving or offer a unique solution that sets you apart from the competition.

Take Existing Problems and Solve Them in Different Ways

Innovation often comes from taking existing problems and approaching them from a new angle. This can be achieved by applying different technologies, utilizing unique materials, or employing unconventional methodologies. Look for inspiration in adjacent industries or entirely different fields to find novel solutions to old problems.

Product Innovation Framework

A systematic approach towards product innovation can be segmented into four main dimensions:

Focus on user-centric design that not only looks good but also enhances user experience.

Utilize design thinking methodologies to empathize with users, define problems, ideate solutions, prototype quickly, and test your assumptions.

2. Function:

Enhance or add functionalities that solve problems in a more efficient or enjoyable way.

Leverage cutting-edge technologies to enable new features or improve existing ones.

Consider innovative pricing strategies that could make your product more accessible or appealing.

Explore different business models that could differentiate your product in the market, such as subscription models or pay-as-you-go.

Consider when a product becomes available and how long customers have the opportunity to buy it, adding a sense of urgency and scarcity to the marketing mix.

By integrating these elements within your product development strategy, you can ensure that your product not only stands out in the market but also delivers exceptional value to your customers, thereby securing a competitive edge in the marketplace.

Keep Learning: What Can I Sell Online to Make Money?

What factors should I consider when evaluating a new product idea?

First and foremost, your product must solve a need. The next step is framing the product for a specific customer group. That's called a unique selling position. You also need to evaluate if customers will pay for your product at a profitable cost. Lastly, ensure your product aligns with your business's mission, vision, and brand.

How can I protect my new product idea from being copied by competitors?

This can be tricky. Getting a patent on an idea is the easiest way to protect your product. You can also trademark the name of the product and imagery. Unfortunately, these protections are expensive. So don't spend too much time worrying about people stealing your idea. Instead, invest your capital in making a product that solves a unique problem compared to competitors in your space.

How much does it cost to come up with a new product idea?

Nothing. Ideas are free. And if you do enough research or can identify problems, you're one step ahead of the competition. But if you're looking to implement an idea, the cost can range anywhere from $2K to $20K, depending on the product or industry.

Commit to Your New Product Idea

Get started developing your product by exploring foundr+ for $1 .

About Jesse Sumrak

Jesse Sumrak is a writing zealot focused on creating killer content. He’s spent almost a decade writing about startup, marketing, and entrepreneurship topics, having built and sold his own post-apocalyptic fitness bootstrapped business. A writer by day and a peak bagger by night (and early early morning), you can usually find Jesse preparing for the apocalypse on a precipitous peak somewhere in the Rocky Mountains of Colorado.

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How to Write a Business Plan in 9 Steps (+ Template and Examples)

Every successful business has one thing in common, a good and well-executed business plan. A business plan is more than a document, it is a complete guide that outlines the goals your business wants to achieve, including its financial goals . It helps you analyze results, make strategic decisions, show your business operations and growth.

If you want to start a business or already have one and need to pitch it to investors for funding, writing a good business plan improves your chances of attracting financiers. As a startup, if you want to secure loans from financial institutions, part of the requirements involve submitting your business plan.

Writing a business plan does not have to be a complicated or time-consuming process. In this article, you will learn the step-by-step process for writing a successful business plan.

You will also learn what you need a business plan for, tips and strategies for writing a convincing business plan, business plan examples and templates that will save you tons of time, and the alternatives to the traditional business plan.

Let’s get started.

What Do You Need A Business Plan For?

Businesses create business plans for different purposes such as to secure funds, monitor business growth, measure your marketing strategies, and measure your business success.

1. Secure Funds

One of the primary reasons for writing a business plan is to secure funds, either from financial institutions/agencies or investors.

For you to effectively acquire funds, your business plan must contain the key elements of your business plan . For example, your business plan should include your growth plans, goals you want to achieve, and milestones you have recorded.

A business plan can also attract new business partners that are willing to contribute financially and intellectually. If you are writing a business plan to a bank, your project must show your traction , that is, the proof that you can pay back any loan borrowed.

Also, if you are writing to an investor, your plan must contain evidence that you can effectively utilize the funds you want them to invest in your business. Here, you are using your business plan to persuade a group or an individual that your business is a source of a good investment.

2. Monitor Business Growth

A business plan can help you track cash flows in your business. It steers your business to greater heights. A business plan capable of tracking business growth should contain:

The business goals
Methods to achieve the goals
Time-frame for attaining those goals

A good business plan should guide you through every step in achieving your goals. It can also track the allocation of assets to every aspect of the business. You can tell when you are spending more than you should on a project.

You can compare a business plan to a written GPS. It helps you manage your business and hints at the right time to expand your business.

3. Measure Business Success

A business plan can help you measure your business success rate. Some small-scale businesses are thriving better than more prominent companies because of their track record of success.

Right from the onset of your business operation, set goals and work towards them. Write a plan to guide you through your procedures. Use your plan to measure how much you have achieved and how much is left to attain.

You can also weigh your success by monitoring the position of your brand relative to competitors. On the other hand, a business plan can also show you why you have not achieved a goal. It can tell if you have elapsed the time frame you set to attain a goal.

4. Document Your Marketing Strategies

You can use a business plan to document your marketing plans. Every business should have an effective marketing plan.

Competition mandates every business owner to go the extraordinary mile to remain relevant in the market. Your business plan should contain your marketing strategies that work. You can measure the success rate of your marketing plans.

In your business plan, your marketing strategy must answer the questions:

How do you want to reach your target audience?
How do you plan to retain your customers?
What is/are your pricing plans?
What is your budget for marketing?

How to Write a Business Plan Step-by-Step

1. create your executive summary.

The executive summary is a snapshot of your business or a high-level overview of your business purposes and plans . Although the executive summary is the first section in your business plan, most people write it last. The length of the executive summary is not more than two pages.

Generally, there are nine sections in a business plan, the executive summary should condense essential ideas from the other eight sections.

A good executive summary should do the following:

A Snapshot of Growth Potential. Briefly inform the reader about your company and why it will be successful)
Contain your Mission Statement which explains what the main objective or focus of your business is.
Product Description and Differentiation. Brief description of your products or services and why it is different from other solutions in the market.
The Team. Basic information about your company’s leadership team and employees
Business Concept. A solid description of what your business does.
Target Market. The customers you plan to sell to.
Marketing Strategy. Your plans on reaching and selling to your customers
Current Financial State. Brief information about what revenue your business currently generates.
Projected Financial State. Brief information about what you foresee your business revenue to be in the future.

The executive summary is the make-or-break section of your business plan. If your summary cannot in less than two pages cannot clearly describe how your business will solve a particular problem of your target audience and make a profit, your business plan is set on a faulty foundation.

Avoid using the executive summary to hype your business, instead, focus on helping the reader understand the what and how of your plan.

View the executive summary as an opportunity to introduce your vision for your company. You know your executive summary is powerful when it can answer these key questions:

Who is your target audience?
What sector or industry are you in?
What are your products and services?
What is the future of your industry?
Is your company scaleable?
Who are the owners and leaders of your company? What are their backgrounds and experience levels?
What is the motivation for starting your company?
What are the next steps?

Writing the executive summary last although it is the most important section of your business plan is an excellent idea. The reason why is because it is a high-level overview of your business plan. It is the section that determines whether potential investors and lenders will read further or not.

The executive summary can be a stand-alone document that covers everything in your business plan. It is not uncommon for investors to request only the executive summary when evaluating your business. If the information in the executive summary impresses them, they will ask for the complete business plan.

If you are writing your business plan for your planning purposes, you do not need to write the executive summary.

2. Add Your Company Overview

The company overview or description is the next section in your business plan after the executive summary. It describes what your business does.

Adding your company overview can be tricky especially when your business is still in the planning stages. Existing businesses can easily summarize their current operations but may encounter difficulties trying to explain what they plan to become.

Your company overview should contain the following:

What products and services you will provide
Geographical markets and locations your company have a presence
What you need to run your business
Who your target audience or customers are
Who will service your customers
Your company’s purpose, mission, and vision
Information about your company’s founders
Who the founders are
Notable achievements of your company so far

When creating a company overview, you have to focus on three basics: identifying your industry, identifying your customer, and explaining the problem you solve.

If you are stuck when creating your company overview, try to answer some of these questions that pertain to you.

Who are you targeting? (The answer is not everyone)
What pain point does your product or service solve for your customers that they will be willing to spend money on resolving?
How does your product or service overcome that pain point?
Where is the location of your business?
What products, equipment, and services do you need to run your business?
How is your company’s product or service different from your competition in the eyes of your customers?
How many employees do you need and what skills do you require them to have?

After answering some or all of these questions, you will get more than enough information you need to write your company overview or description section. When writing this section, describe what your company does for your customers.

The company description or overview section contains three elements: mission statement, history, and objectives.

Mission Statement

The mission statement refers to the reason why your business or company is existing. It goes beyond what you do or sell, it is about the ‘why’. A good mission statement should be emotional and inspirational.

Your mission statement should follow the KISS rule (Keep It Simple, Stupid). For example, Shopify’s mission statement is “Make commerce better for everyone.”

When describing your company’s history, make it simple and avoid the temptation of tying it to a defensive narrative. Write it in the manner you would a profile. Your company’s history should include the following information:

Founding Date
Major Milestones
Location(s)
Flagship Products or Services
Number of Employees
Executive Leadership Roles

When you fill in this information, you use it to write one or two paragraphs about your company’s history.

Business Objectives

Your business objective must be SMART (specific, measurable, achievable, realistic, and time-bound.) Failure to clearly identify your business objectives does not inspire confidence and makes it hard for your team members to work towards a common purpose.

3. Perform Market and Competitive Analyses to Proof a Big Enough Business Opportunity

The third step in writing a business plan is the market and competitive analysis section. Every business, no matter the size, needs to perform comprehensive market and competitive analyses before it enters into a market.

Performing market and competitive analyses are critical for the success of your business. It helps you avoid entering the right market with the wrong product, or vice versa. Anyone reading your business plans, especially financiers and financial institutions will want to see proof that there is a big enough business opportunity you are targeting.

This section is where you describe the market and industry you want to operate in and show the big opportunities in the market that your business can leverage to make a profit. If you noticed any unique trends when doing your research, show them in this section.

Market analysis alone is not enough, you have to add competitive analysis to strengthen this section. There are already businesses in the industry or market, how do you plan to take a share of the market from them?

You have to clearly illustrate the competitive landscape in your business plan. Are there areas your competitors are doing well? Are there areas where they are not doing so well? Show it.

Make it clear in this section why you are moving into the industry and what weaknesses are present there that you plan to explain. How are your competitors going to react to your market entry? How do you plan to get customers? Do you plan on taking your competitors' competitors, tap into other sources for customers, or both?

Illustrate the competitive landscape as well. What are your competitors doing well and not so well?

Answering these questions and thoughts will aid your market and competitive analysis of the opportunities in your space. Depending on how sophisticated your industry is, or the expectations of your financiers, you may need to carry out a more comprehensive market and competitive analysis to prove that big business opportunity.

Instead of looking at the market and competitive analyses as one entity, separating them will make the research even more comprehensive.

Market Analysis

Market analysis, boarding speaking, refers to research a business carried out on its industry, market, and competitors. It helps businesses gain a good understanding of their target market and the outlook of their industry. Before starting a company, it is vital to carry out market research to find out if the market is viable.

The market analysis section is a key part of the business plan. It is the section where you identify who your best clients or customers are. You cannot omit this section, without it your business plan is incomplete.

A good market analysis will tell your readers how you fit into the existing market and what makes you stand out. This section requires in-depth research, it will probably be the most time-consuming part of the business plan to write.

Market Research

To create a compelling market analysis that will win over investors and financial institutions, you have to carry out thorough market research . Your market research should be targeted at your primary target market for your products or services. Here is what you want to find out about your target market.

Your target market’s needs or pain points
The existing solutions for their pain points
Geographic Location
Demographics

The purpose of carrying out a marketing analysis is to get all the information you need to show that you have a solid and thorough understanding of your target audience.

Only after you have fully understood the people you plan to sell your products or services to, can you evaluate correctly if your target market will be interested in your products or services.

You can easily convince interested parties to invest in your business if you can show them you thoroughly understand the market and show them that there is a market for your products or services.

How to Quantify Your Target Market

One of the goals of your marketing research is to understand who your ideal customers are and their purchasing power. To quantify your target market, you have to determine the following:

Your Potential Customers: They are the people you plan to target. For example, if you sell accounting software for small businesses , then anyone who runs an enterprise or large business is unlikely to be your customers. Also, individuals who do not have a business will most likely not be interested in your product.
Total Households: If you are selling household products such as heating and air conditioning systems, determining the number of total households is more important than finding out the total population in the area you want to sell to. The logic is simple, people buy the product but it is the household that uses it.
Median Income: You need to know the median income of your target market. If you target a market that cannot afford to buy your products and services, your business will not last long.
Income by Demographics: If your potential customers belong to a certain age group or gender, determining income levels by demographics is necessary. For example, if you sell men's clothes, your target audience is men.

What Does a Good Market Analysis Entail?

Your business does not exist on its own, it can only flourish within an industry and alongside competitors. Market analysis takes into consideration your industry, target market, and competitors. Understanding these three entities will drastically improve your company’s chances of success.

You can view your market analysis as an examination of the market you want to break into and an education on the emerging trends and themes in that market. Good market analyses include the following:

Industry Description. You find out about the history of your industry, the current and future market size, and who the largest players/companies are in your industry.
Overview of Target Market. You research your target market and its characteristics. Who are you targeting? Note, it cannot be everyone, it has to be a specific group. You also have to find out all information possible about your customers that can help you understand how and why they make buying decisions.
Size of Target Market: You need to know the size of your target market, how frequently they buy, and the expected quantity they buy so you do not risk overproducing and having lots of bad inventory. Researching the size of your target market will help you determine if it is big enough for sustained business or not.
Growth Potential: Before picking a target market, you want to be sure there are lots of potential for future growth. You want to avoid going for an industry that is declining slowly or rapidly with almost zero growth potential.
Market Share Potential: Does your business stand a good chance of taking a good share of the market?
Market Pricing and Promotional Strategies: Your market analysis should give you an idea of the price point you can expect to charge for your products and services. Researching your target market will also give you ideas of pricing strategies you can implement to break into the market or to enjoy maximum profits.
Potential Barriers to Entry: One of the biggest benefits of conducting market analysis is that it shows you every potential barrier to entry your business will likely encounter. It is a good idea to discuss potential barriers to entry such as changing technology. It informs readers of your business plan that you understand the market.
Research on Competitors: You need to know the strengths and weaknesses of your competitors and how you can exploit them for the benefit of your business. Find patterns and trends among your competitors that make them successful, discover what works and what doesn’t, and see what you can do better.

The market analysis section is not just for talking about your target market, industry, and competitors. You also have to explain how your company can fill the hole you have identified in the market.

Here are some questions you can answer that can help you position your product or service in a positive light to your readers.

Is your product or service of superior quality?
What additional features do you offer that your competitors do not offer?
Are you targeting a ‘new’ market?

Basically, your market analysis should include an analysis of what already exists in the market and an explanation of how your company fits into the market.

Competitive Analysis

In the competitive analysis section, y ou have to understand who your direct and indirect competitions are, and how successful they are in the marketplace. It is the section where you assess the strengths and weaknesses of your competitors, the advantage(s) they possess in the market and show the unique features or qualities that make you different from your competitors.

Four Steps to Create a Competitive Marketing Analysis

Many businesses do market analysis and competitive analysis together. However, to fully understand what the competitive analysis entails, it is essential to separate it from the market analysis.

Competitive analysis for your business can also include analysis on how to overcome barriers to entry in your target market.

The primary goal of conducting a competitive analysis is to distinguish your business from your competitors. A strong competitive analysis is essential if you want to convince potential funding sources to invest in your business. You have to show potential investors and lenders that your business has what it takes to compete in the marketplace successfully.

Competitive analysis will s how you what the strengths of your competition are and what they are doing to maintain that advantage.

When doing your competitive research, you first have to identify your competitor and then get all the information you can about them. The idea of spending time to identify your competitor and learn everything about them may seem daunting but it is well worth it.

Find answers to the following questions after you have identified who your competitors are.

What are your successful competitors doing?
Why is what they are doing working?
Can your business do it better?
What are the weaknesses of your successful competitors?
What are they not doing well?
Can your business turn its weaknesses into strengths?
How good is your competitors’ customer service?
Where do your competitors invest in advertising?
What sales and pricing strategies are they using?
What marketing strategies are they using?
What kind of press coverage do they get?
What are their customers saying about your competitors (both the positive and negative)?

If your competitors have a website, it is a good idea to visit their websites for more competitors’ research. Check their “About Us” page for more information.

If you are presenting your business plan to investors, you need to clearly distinguish yourself from your competitors. Investors can easily tell when you have not properly researched your competitors.

Take time to think about what unique qualities or features set you apart from your competitors. If you do not have any direct competition offering your product to the market, it does not mean you leave out the competitor analysis section blank. Instead research on other companies that are providing a similar product, or whose product is solving the problem your product solves.

The next step is to create a table listing the top competitors you want to include in your business plan. Ensure you list your business as the last and on the right. What you just created is known as the competitor analysis table.

Direct vs Indirect Competition

You cannot know if your product or service will be a fit for your target market if you have not understood your business and the competitive landscape.

There is no market you want to target where you will not encounter competition, even if your product is innovative. Including competitive analysis in your business plan is essential.

If you are entering an established market, you need to explain how you plan to differentiate your products from the available options in the market. Also, include a list of few companies that you view as your direct competitors The competition you face in an established market is your direct competition.

In situations where you are entering a market with no direct competition, it does not mean there is no competition there. Consider your indirect competition that offers substitutes for the products or services you offer.

For example, if you sell an innovative SaaS product, let us say a project management software , a company offering time management software is your indirect competition.

There is an easy way to find out who your indirect competitors are in the absence of no direct competitors. You simply have to research how your potential customers are solving the problems that your product or service seeks to solve. That is your direct competition.

Factors that Differentiate Your Business from the Competition

There are three main factors that any business can use to differentiate itself from its competition. They are cost leadership, product differentiation, and market segmentation.

1. Cost Leadership

A strategy you can impose to maximize your profits and gain an edge over your competitors. It involves offering lower prices than what the majority of your competitors are offering.

A common practice among businesses looking to enter into a market where there are dominant players is to use free trials or pricing to attract as many customers as possible to their offer.

2. Product Differentiation

Your product or service should have a unique selling proposition (USP) that your competitors do not have or do not stress in their marketing.

Part of the marketing strategy should involve making your products unique and different from your competitors. It does not have to be different from your competitors, it can be the addition to a feature or benefit that your competitors do not currently have.

3. Market Segmentation

As a new business seeking to break into an industry, you will gain more success from focusing on a specific niche or target market, and not the whole industry.

If your competitors are focused on a general need or target market, you can differentiate yourself from them by having a small and hyper-targeted audience. For example, if your competitors are selling men’s clothes in their online stores , you can sell hoodies for men.

4. Define Your Business and Management Structure

The next step in your business plan is your business and management structure. It is the section where you describe the legal structure of your business and the team running it.

Your business is only as good as the management team that runs it, while the management team can only strive when there is a proper business and management structure in place.

If your company is a sole proprietor or a limited liability company (LLC), a general or limited partnership, or a C or an S corporation, state it clearly in this section.

Use an organizational chart to show the management structure in your business. Clearly show who is in charge of what area in your company. It is where you show how each key manager or team leader’s unique experience can contribute immensely to the success of your company. You can also opt to add the resumes and CVs of the key players in your company.

The business and management structure section should show who the owner is, and other owners of the businesses (if the business has other owners). For businesses or companies with multiple owners, include the percent ownership of the various owners and clearly show the extent of each others’ involvement in the company.

Investors want to know who is behind the company and the team running it to determine if it has the right management to achieve its set goals.

Management Team

The management team section is where you show that you have the right team in place to successfully execute the business operations and ideas. Take time to create the management structure for your business. Think about all the important roles and responsibilities that you need managers for to grow your business.

Include brief bios of each key team member and ensure you highlight only the relevant information that is needed. If your team members have background industry experience or have held top positions for other companies and achieved success while filling that role, highlight it in this section.

Create Management Team For Business Plan

A common mistake that many startups make is assigning C-level titles such as (CMO and CEO) to everyone on their team. It is unrealistic for a small business to have those titles. While it may look good on paper for the ego of your team members, it can prevent investors from investing in your business.

Instead of building an unrealistic management structure that does not fit your business reality, it is best to allow business titles to grow as the business grows. Starting everyone at the top leaves no room for future change or growth, which is bad for productivity.

Your management team does not have to be complete before you start writing your business plan. You can have a complete business plan even when there are managerial positions that are empty and need filling.

If you have management gaps in your team, simply show the gaps and indicate you are searching for the right candidates for the role(s). Investors do not expect you to have a full management team when you are just starting your business.

Key Questions to Answer When Structuring Your Management Team

Who are the key leaders?
What experiences, skills, and educational backgrounds do you expect your key leaders to have?
Do your key leaders have industry experience?
What positions will they fill and what duties will they perform in those positions?
What level of authority do the key leaders have and what are their responsibilities?
What is the salary for the various management positions that will attract the ideal candidates?

Additional Tips for Writing the Management Structure Section

1. Avoid Adding ‘Ghost’ Names to Your Management Team

There is always that temptation to include a ‘ghost’ name to your management team to attract and influence investors to invest in your business. Although the presence of these celebrity management team members may attract the attention of investors, it can cause your business to lose any credibility if you get found out.

Seasoned investors will investigate further the members of your management team before committing fully to your business If they find out that the celebrity name used does not play any actual role in your business, they will not invest and may write you off as dishonest.

2. Focus on Credentials But Pay Extra Attention to the Roles

Investors want to know the experience that your key team members have to determine if they can successfully reach the company’s growth and financial goals.

While it is an excellent boost for your key management team to have the right credentials, you also want to pay extra attention to the roles they will play in your company.

Organizational Chart

Adding an organizational chart in this section of your business plan is not necessary, you can do it in your business plan’s appendix.

If you are exploring funding options, it is not uncommon to get asked for your organizational chart. The function of an organizational chart goes beyond raising money, you can also use it as a useful planning tool for your business.

An organizational chart can help you identify how best to structure your management team for maximum productivity and point you towards key roles you need to fill in the future.

You can use the organizational chart to show your company’s internal management structure such as the roles and responsibilities of your management team, and relationships that exist between them.

5. Describe Your Product and Service Offering

In your business plan, you have to describe what you sell or the service you plan to offer. It is the next step after defining your business and management structure. The products and services section is where you sell the benefits of your business.

Here you have to explain how your product or service will benefit your customers and describe your product lifecycle. It is also the section where you write down your plans for intellectual property like patent filings and copyrighting.

The research and development that you are undertaking for your product or service need to be explained in detail in this section. However, do not get too technical, sell the general idea and its benefits.

If you have any diagrams or intricate designs of your product or service, do not include them in the products and services section. Instead, leave them for the addendum page. Also, if you are leaving out diagrams or designs for the addendum, ensure you add this phrase “For more detail, visit the addendum Page #.”

Your product and service section in your business plan should include the following:

A detailed explanation that clearly shows how your product or service works.
The pricing model for your product or service.
Your business’ sales and distribution strategy.
The ideal customers that want your product or service.
The benefits of your products and services.
Reason(s) why your product or service is a better alternative to what your competitors are currently offering in the market.
Plans for filling the orders you receive
If you have current or pending patents, copyrights, and trademarks for your product or service, you can also discuss them in this section.

What to Focus On When Describing the Benefits, Lifecycle, and Production Process of Your Products or Services

In the products and services section, you have to distill the benefits, lifecycle, and production process of your products and services.

When describing the benefits of your products or services, here are some key factors to focus on.

Unique features
Translating the unique features into benefits
The emotional, psychological, and practical payoffs to attract customers
Intellectual property rights or any patents

When describing the product life cycle of your products or services, here are some key factors to focus on.

Upsells, cross-sells, and down-sells
Time between purchases
Plans for research and development.

When describing the production process for your products or services, you need to think about the following:

The creation of new or existing products and services.
The sources for the raw materials or components you need for production.
Assembling the products
Maintaining quality control
Supply-chain logistics (receiving the raw materials and delivering the finished products)
The day-to-day management of the production processes, bookkeeping, and inventory.

Tips for Writing the Products or Services Section of Your Business Plan

1. Avoid Technical Descriptions and Industry Buzzwords

The products and services section of your business plan should clearly describe the products and services that your company provides. However, it is not a section to include technical jargons that anyone outside your industry will not understand.

A good practice is to remove highly detailed or technical descriptions in favor of simple terms. Industry buzzwords are not necessary, if there are simpler terms you can use, then use them. If you plan to use your business plan to source funds, making the product or service section so technical will do you no favors.

2. Describe How Your Products or Services Differ from Your Competitors

When potential investors look at your business plan, they want to know how the products and services you are offering differ from that of your competition. Differentiating your products or services from your competition in a way that makes your solution more attractive is critical.

If you are going the innovative path and there is no market currently for your product or service, you need to describe in this section why the market needs your product or service.

For example, overnight delivery was a niche business that only a few companies were participating in. Federal Express (FedEx) had to show in its business plan that there was a large opportunity for that service and they justified why the market needed that service.

3. Long or Short Products or Services Section

Should your products or services section be short? Does the long products or services section attract more investors?

There are no straightforward answers to these questions. Whether your products or services section should be long or relatively short depends on the nature of your business.

If your business is product-focused, then automatically you need to use more space to describe the details of your products. However, if the product your business sells is a commodity item that relies on competitive pricing or other pricing strategies, you do not have to use up so much space to provide significant details about the product.

Likewise, if you are selling a commodity that is available in numerous outlets, then you do not have to spend time on writing a long products or services section.

The key to the success of your business is most likely the effectiveness of your marketing strategies compared to your competitors. Use more space to address that section.

If you are creating a new product or service that the market does not know about, your products or services section can be lengthy. The reason why is because you need to explain everything about the product or service such as the nature of the product, its use case, and values.

A short products or services section for an innovative product or service will not give the readers enough information to properly evaluate your business.

4. Describe Your Relationships with Vendors or Suppliers

Your business will rely on vendors or suppliers to supply raw materials or the components needed to make your products. In your products and services section, describe your relationships with your vendors and suppliers fully.

Avoid the mistake of relying on only one supplier or vendor. If that supplier or vendor fails to supply or goes out of business, you can easily face supply problems and struggle to meet your demands. Plan to set up multiple vendor or supplier relationships for better business stability.

5. Your Primary Goal Is to Convince Your Readers

The primary goal of your business plan is to convince your readers that your business is viable and to create a guide for your business to follow. It applies to the products and services section.

When drafting this section, think like the reader. See your reader as someone who has no idea about your products and services. You are using the products and services section to provide the needed information to help your reader understand your products and services. As a result, you have to be clear and to the point.

While you want to educate your readers about your products or services, you also do not want to bore them with lots of technical details. Show your products and services and not your fancy choice of words.

Your products and services section should provide the answer to the “what” question for your business. You and your management team may run the business, but it is your products and services that are the lifeblood of the business.

Key Questions to Answer When Writing your Products and Services Section

Answering these questions can help you write your products and services section quickly and in a way that will appeal to your readers.

Are your products existing on the market or are they still in the development stage?
What is your timeline for adding new products and services to the market?
What are the positives that make your products and services different from your competitors?
Do your products and services have any competitive advantage that your competitors’ products and services do not currently have?
Do your products or services have any competitive disadvantages that you need to overcome to compete with your competitors? If your answer is yes, state how you plan to overcome them,
How much does it cost to produce your products or services? How much do you plan to sell it for?
What is the price for your products and services compared to your competitors? Is pricing an issue?
What are your operating costs and will it be low enough for you to compete with your competitors and still take home a reasonable profit margin?
What is your plan for acquiring your products? Are you involved in the production of your products or services?
Are you the manufacturer and produce all the components you need to create your products? Do you assemble your products by using components supplied by other manufacturers? Do you purchase your products directly from suppliers or wholesalers?
Do you have a steady supply of products that you need to start your business? (If your business is yet to kick-off)
How do you plan to distribute your products or services to the market?

You can also hint at the marketing or promotion plans you have for your products or services such as how you plan to build awareness or retain customers. The next section is where you can go fully into details about your business’s marketing and sales plan.

6. Show and Explain Your Marketing and Sales Plan

Providing great products and services is wonderful, but it means nothing if you do not have a marketing and sales plan to inform your customers about them. Your marketing and sales plan is critical to the success of your business.

The sales and marketing section is where you show and offer a detailed explanation of your marketing and sales plan and how you plan to execute it. It covers your pricing plan, proposed advertising and promotion activities, activities and partnerships you need to make your business a success, and the benefits of your products and services.

There are several ways you can approach your marketing and sales strategy. Ideally, your marketing and sales strategy has to fit the unique needs of your business.

In this section, you describe how the plans your business has for attracting and retaining customers, and the exact process for making a sale happen. It is essential to thoroughly describe your complete marketing and sales plans because you are still going to reference this section when you are making financial projections for your business.

Outline Your Business’ Unique Selling Proposition (USP)

The sales and marketing section is where you outline your business’s unique selling proposition (USP). When you are developing your unique selling proposition, think about the strongest reasons why people should buy from you over your competition. That reason(s) is most likely a good fit to serve as your unique selling proposition (USP).

Target Market and Target Audience

Plans on how to get your products or services to your target market and how to get your target audience to buy them go into this section. You also highlight the strengths of your business here, particularly what sets them apart from your competition.

Before you start writing your marketing and sales plan, you need to have properly defined your target audience and fleshed out your buyer persona. If you do not first understand the individual you are marketing to, your marketing and sales plan will lack any substance and easily fall.

Creating a Smart Marketing and Sales Plan

Marketing your products and services is an investment that requires you to spend money. Like any other investment, you have to generate a good return on investment (ROI) to justify using that marketing and sales plan. Good marketing and sales plans bring in high sales and profits to your company.

Avoid spending money on unproductive marketing channels. Do your research and find out the best marketing and sales plan that works best for your company.

Your marketing and sales plan can be broken into different parts: your positioning statement, pricing, promotion, packaging, advertising, public relations, content marketing, social media, and strategic alliances.

Your Positioning Statement

Your positioning statement is the first part of your marketing and sales plan. It refers to the way you present your company to your customers.

Are you the premium solution, the low-price solution, or are you the intermediary between the two extremes in the market? What do you offer that your competitors do not that can give you leverage in the market?

Before you start writing your positioning statement, you need to spend some time evaluating the current market conditions. Here are some questions that can help you to evaluate the market

What are the unique features or benefits that you offer that your competitors lack?
What are your customers’ primary needs and wants?
Why should a customer choose you over your competition? How do you plan to differentiate yourself from the competition?
How does your company’s solution compare with other solutions in the market?

After answering these questions, then you can start writing your positioning statement. Your positioning statement does not have to be in-depth or too long.

All you need to explain with your positioning statement are two focus areas. The first is the position of your company within the competitive landscape. The other focus area is the core value proposition that sets your company apart from other alternatives that your ideal customer might consider.

Here is a simple template you can use to develop a positioning statement.

For [description of target market] who [need of target market], [product or service] [how it meets the need]. Unlike [top competition], it [most essential distinguishing feature].

For example, let’s create the positioning statement for fictional accounting software and QuickBooks alternative , TBooks.

“For small business owners who need accounting services, TBooks is an accounting software that helps small businesses handle their small business bookkeeping basics quickly and easily. Unlike Wave, TBooks gives small businesses access to live sessions with top accountants.”

You can edit this positioning statement sample and fill it with your business details.

After writing your positioning statement, the next step is the pricing of your offerings. The overall positioning strategy you set in your positioning statement will often determine how you price your products or services.

Pricing is a powerful tool that sends a strong message to your customers. Failure to get your pricing strategy right can make or mar your business. If you are targeting a low-income audience, setting a premium price can result in low sales.

You can use pricing to communicate your positioning to your customers. For example, if you are offering a product at a premium price, you are sending a message to your customers that the product belongs to the premium category.

Basic Rules to Follow When Pricing Your Offering

Setting a price for your offering involves more than just putting a price tag on it. Deciding on the right pricing for your offering requires following some basic rules. They include covering your costs, primary and secondary profit center pricing, and matching the market rate.

Covering Your Costs: The price you set for your products or service should be more than it costs you to produce and deliver them. Every business has the same goal, to make a profit. Depending on the strategy you want to use, there are exceptions to this rule. However, the vast majority of businesses follow this rule.
Primary and Secondary Profit Center Pricing: When a company sets its price above the cost of production, it is making that product its primary profit center. A company can also decide not to make its initial price its primary profit center by selling below or at even with its production cost. It rather depends on the support product or even maintenance that is associated with the initial purchase to make its profit. The initial price thus became its secondary profit center.
Matching the Market Rate: A good rule to follow when pricing your products or services is to match your pricing with consumer demand and expectations. If you price your products or services beyond the price your customer perceives as the ideal price range, you may end up with no customers. Pricing your products too low below what your customer perceives as the ideal price range may lead to them undervaluing your offering.

Pricing Strategy

Your pricing strategy influences the price of your offering. There are several pricing strategies available for you to choose from when examining the right pricing strategy for your business. They include cost-plus pricing, market-based pricing, value pricing, and more.

Cost-plus Pricing: This strategy is one of the simplest and oldest pricing strategies. Here you consider the cost of producing a unit of your product and then add a profit to it to arrive at your market price. It is an effective pricing strategy for manufacturers because it helps them cover their initial costs. Another name for the cost-plus pricing strategy is the markup pricing strategy.
Market-based Pricing: This pricing strategy analyses the market including competitors’ pricing and then sets a price based on what the market is expecting. With this pricing strategy, you can either set your price at the low-end or high-end of the market.
Value Pricing: This pricing strategy involves setting a price based on the value you are providing to your customer. When adopting a value-based pricing strategy, you have to set a price that your customers are willing to pay. Service-based businesses such as small business insurance providers , luxury goods sellers, and the fashion industry use this pricing strategy.

After carefully sorting out your positioning statement and pricing, the next item to look at is your promotional strategy. Your promotional strategy explains how you plan on communicating with your customers and prospects.

As a business, you must measure all your costs, including the cost of your promotions. You also want to measure how much sales your promotions bring for your business to determine its usefulness. Promotional strategies or programs that do not lead to profit need to be removed.

There are different types of promotional strategies you can adopt for your business, they include advertising, public relations, and content marketing.

Advertising

Your business plan should include your advertising plan which can be found in the marketing and sales plan section. You need to include an overview of your advertising plans such as the areas you plan to spend money on to advertise your business and offers.

Ensure that you make it clear in this section if your business will be advertising online or using the more traditional offline media, or the combination of both online and offline media. You can also include the advertising medium you want to use to raise awareness about your business and offers.

Some common online advertising mediums you can use include social media ads, landing pages, sales pages, SEO, Pay-Per-Click, emails, Google Ads, and others. Some common traditional and offline advertising mediums include word of mouth, radios, direct mail, televisions, flyers, billboards, posters, and others.

A key component of your advertising strategy is how you plan to measure the effectiveness and success of your advertising campaign. There is no point in sticking with an advertising plan or medium that does not produce results for your business in the long run.

Public Relations

A great way to reach your customers is to get the media to cover your business or product. Publicity, especially good ones, should be a part of your marketing and sales plan. In this section, show your plans for getting prominent reviews of your product from reputable publications and sources.

Your business needs that exposure to grow. If public relations is a crucial part of your promotional strategy, provide details about your public relations plan here.

Content Marketing

Content marketing is a popular promotional strategy used by businesses to inform and attract their customers. It is about teaching and educating your prospects on various topics of interest in your niche, it does not just involve informing them about the benefits and features of the products and services you have,

Businesses publish content usually for free where they provide useful information, tips, and advice so that their target market can be made aware of the importance of their products and services. Content marketing strategies seek to nurture prospects into buyers over time by simply providing value.

Your company can create a blog where it will be publishing content for its target market. You will need to use the best website builder such as Wix and Squarespace and the best web hosting services such as Bluehost, Hostinger, and other Bluehost alternatives to create a functional blog or website.

If content marketing is a crucial part of your promotional strategy (as it should be), detail your plans under promotions.

Including high-quality images of the packaging of your product in your business plan is a lovely idea. You can add the images of the packaging of that product in the marketing and sales plan section. If you are not selling a product, then you do not need to include any worry about the physical packaging of your product.

When organizing the packaging section of your business plan, you can answer the following questions to make maximum use of this section.

Is your choice of packaging consistent with your positioning strategy?
What key value proposition does your packaging communicate? (It should reflect the key value proposition of your business)
How does your packaging compare to that of your competitors?

Social Media

Your 21st-century business needs to have a good social media presence. Not having one is leaving out opportunities for growth and reaching out to your prospect.

You do not have to join the thousands of social media platforms out there. What you need to do is join the ones that your customers are active on and be active there.

Businesses use social media to provide information about their products such as promotions, discounts, the benefits of their products, and content on their blogs.

Social media is also a platform for engaging with your customers and getting feedback about your products or services. Make no mistake, more and more of your prospects are using social media channels to find more information about companies.

You need to consider the social media channels you want to prioritize your business (prioritize the ones your customers are active in) and your branding plans in this section.

Choosing the right social media platform

Strategic Alliances

If your company plans to work closely with other companies as part of your sales and marketing plan, include it in this section. Prove details about those partnerships in your business plan if you have already established them.

Strategic alliances can be beneficial for all parties involved including your company. Working closely with another company in the form of a partnership can provide access to a different target market segment for your company.

The company you are partnering with may also gain access to your target market or simply offer a new product or service (that of your company) to its customers.

Mutually beneficial partnerships can cover the weaknesses of one company with the strength of another. You should consider strategic alliances with companies that sell complimentary products to yours. For example, if you provide printers, you can partner with a company that produces ink since the customers that buy printers from you will also need inks for printing.

Steps Involved in Creating a Marketing and Sales Plan

1. Focus on Your Target Market

Identify who your customers are, the market you want to target. Then determine the best ways to get your products or services to your potential customers.

2. Evaluate Your Competition

One of the goals of having a marketing plan is to distinguish yourself from your competition. You cannot stand out from them without first knowing them in and out.

You can know your competitors by gathering information about their products, pricing, service, and advertising campaigns.

These questions can help you know your competition.

What makes your competition successful?
What are their weaknesses?
What are customers saying about your competition?

3. Consider Your Brand

Customers' perception of your brand has a strong impact on your sales. Your marketing and sales plan should seek to bolster the image of your brand. Before you start marketing your business, think about the message you want to pass across about your business and your products and services.

4. Focus on Benefits

The majority of your customers do not view your product in terms of features, what they want to know is the benefits and solutions your product offers. Think about the problems your product solves and the benefits it delivers, and use it to create the right sales and marketing message.

Your marketing plan should focus on what you want your customer to get instead of what you provide. Identify those benefits in your marketing and sales plan.

5. Focus on Differentiation

Your marketing and sales plan should look for a unique angle they can take that differentiates your business from the competition, even if the products offered are similar. Some good areas of differentiation you can use are your benefits, pricing, and features.

Key Questions to Answer When Writing Your Marketing and Sales Plan

What is your company’s budget for sales and marketing campaigns?
What key metrics will you use to determine if your marketing plans are successful?
What are your alternatives if your initial marketing efforts do not succeed?
Who are the sales representatives you need to promote your products or services?
What are the marketing and sales channels you plan to use? How do you plan to get your products in front of your ideal customers?
Where will you sell your products?

You may want to include samples of marketing materials you plan to use such as print ads, website descriptions, and social media ads. While it is not compulsory to include these samples, it can help you better communicate your marketing and sales plan and objectives.

The purpose of the marketing and sales section is to answer this question “How will you reach your customers?” If you cannot convincingly provide an answer to this question, you need to rework your marketing and sales section.

7. Clearly Show Your Funding Request

If you are writing your business plan to ask for funding from investors or financial institutions, the funding request section is where you will outline your funding requirements. The funding request section should answer the question ‘How much money will your business need in the near future (3 to 5 years)?’

A good funding request section will clearly outline and explain the amount of funding your business needs over the next five years. You need to know the amount of money your business needs to make an accurate funding request.

Also, when writing your funding request, provide details of how the funds will be used over the period. Specify if you want to use the funds to buy raw materials or machinery, pay salaries, pay for advertisements, and cover specific bills such as rent and electricity.

In addition to explaining what you want to use the funds requested for, you need to clearly state the projected return on investment (ROI) . Investors and creditors want to know if your business can generate profit for them if they put funds into it.

Ensure you do not inflate the figures and stay as realistic as possible. Investors and financial institutions you are seeking funds from will do their research before investing money in your business.

If you are not sure of an exact number to request from, you can use some range of numbers as rough estimates. Add a best-case scenario and a work-case scenario to your funding request. Also, include a description of your strategic future financial plans such as selling your business or paying off debts.

Funding Request: Debt or Equity?

When making your funding request, specify the type of funding you want. Do you want debt or equity? Draw out the terms that will be applicable for the funding, and the length of time the funding request will cover.

Case for Equity

If your new business has not yet started generating profits, you are most likely preparing to sell equity in your business to raise capital at the early stage. Equity here refers to ownership. In this case, you are selling a portion of your company to raise capital.

Although this method of raising capital for your business does not put your business in debt, keep in mind that an equity owner may expect to play a key role in company decisions even if he does not hold a major stake in the company.

Most equity sales for startups are usually private transactions . If you are making a funding request by offering equity in exchange for funding, let the investor know that they will be paid a dividend (a share of the company’s profit). Also, let the investor know the process for selling their equity in your business.

Case for Debt

You may decide not to offer equity in exchange for funds, instead, you make a funding request with the promise to pay back the money borrowed at the agreed time frame.

When making a funding request with an agreement to pay back, note that you will have to repay your creditors both the principal amount borrowed and the interest on it. Financial institutions offer this type of funding for businesses.

Large companies combine both equity and debt in their capital structure. When drafting your business plan, decide if you want to offer both or one over the other.

Before you sell equity in exchange for funding in your business, consider if you are willing to accept not being in total control of your business. Also, before you seek loans in your funding request section, ensure that the terms of repayment are favorable.

You should set a clear timeline in your funding request so that potential investors and creditors can know what you are expecting. Some investors and creditors may agree to your funding request and then delay payment for longer than 30 days, meanwhile, your business needs an immediate cash injection to operate efficiently.

Additional Tips for Writing the Funding Request Section of your Business Plan

The funding request section is not necessary for every business, it is only needed by businesses who plan to use their business plan to secure funding.

If you are adding the funding request section to your business plan, provide an itemized summary of how you plan to use the funds requested. Hiring a lawyer, accountant, or other professionals may be necessary for the proper development of this section.

You should also gather and use financial statements that add credibility and support to your funding requests. Ensure that the financial statements you use should include your projected financial data such as projected cash flows, forecast statements, and expenditure budgets.

If you are an existing business, include all historical financial statements such as cash flow statements, balance sheets and income statements .

Provide monthly and quarterly financial statements for a year. If your business has records that date back beyond the one-year mark, add the yearly statements of those years. These documents are for the appendix section of your business plan.

8. Detail Your Financial Plan, Metrics, and Projections

If you used the funding request section in your business plan, supplement it with a financial plan, metrics, and projections. This section paints a picture of the past performance of your business and then goes ahead to make an informed projection about its future.

The goal of this section is to convince readers that your business is going to be a financial success. It outlines your business plan to generate enough profit to repay the loan (with interest if applicable) and to generate a decent return on investment for investors.

If you have an existing business already in operation, use this section to demonstrate stability through finance. This section should include your cash flow statements, balance sheets, and income statements covering the last three to five years. If your business has some acceptable collateral that you can use to acquire loans, list it in the financial plan, metrics, and projection section.

Apart from current financial statements, this section should also contain a prospective financial outlook that spans the next five years. Include forecasted income statements, cash flow statements, balance sheets, and capital expenditure budget.

If your business is new and is not yet generating profit, use clear and realistic projections to show the potentials of your business.

When drafting this section, research industry norms and the performance of comparable businesses. Your financial projections should cover at least five years. State the logic behind your financial projections. Remember you can always make adjustments to this section as the variables change.

The financial plan, metrics, and projection section create a baseline which your business can either exceed or fail to reach. If your business fails to reach your projections in this section, you need to understand why it failed.

Investors and loan managers spend a lot of time going through the financial plan, metrics, and projection section compared to other parts of the business plan. Ensure you spend time creating credible financial analyses for your business in this section.

Many entrepreneurs find this section daunting to write. You do not need a business degree to create a solid financial forecast for your business. Business finances, especially for startups, are not as complicated as they seem. There are several online tools and templates that make writing this section so much easier.

Use Graphs and Charts

The financial plan, metrics, and projection section is a great place to use graphs and charts to tell the financial story of your business. Charts and images make it easier to communicate your finances.

Accuracy in this section is key, ensure you carefully analyze your past financial statements properly before making financial projects.

Address the Risk Factors and Show Realistic Financial Projections

Keep your financial plan, metrics, and projection realistic. It is okay to be optimistic in your financial projection, however, you have to justify it.

You should also address the various risk factors associated with your business in this section. Investors want to know the potential risks involved, show them. You should also show your plans for mitigating those risks.

What You Should In The Financial Plan, Metrics, and Projection Section of Your Business Plan

The financial plan, metrics, and projection section of your business plan should have monthly sales and revenue forecasts for the first year. It should also include annual projections that cover 3 to 5 years.

A three-year projection is a basic requirement to have in your business plan. However, some investors may request a five-year forecast.

Your business plan should include the following financial statements: sales forecast, personnel plan, income statement, income statement, cash flow statement, balance sheet, and an exit strategy.

1. Sales Forecast

Sales forecast refers to your projections about the number of sales your business is going to record over the next few years. It is typically broken into several rows, with each row assigned to a core product or service that your business is offering.

One common mistake people make in their business plan is to break down the sales forecast section into long details. A sales forecast should forecast the high-level details.

For example, if you are forecasting sales for a payroll software provider, you could break down your forecast into target market segments or subscription categories.

Your sales forecast section should also have a corresponding row for each sales row to cover the direct cost or Cost of Goods Sold (COGS). The objective of these rows is to show the expenses that your business incurs in making and delivering your product or service.

Note that your Cost of Goods Sold (COGS) should only cover those direct costs incurred when making your products. Other indirect expenses such as insurance, salaries, payroll tax, and rent should not be included.

For example, the Cost of Goods Sold (COGS) for a restaurant is the cost of ingredients while for a consulting company it will be the cost of paper and other presentation materials.

2. Personnel Plan

The personnel plan section is where you provide details about the payment plan for your employees. For a small business, you can easily list every position in your company and how much you plan to pay in the personnel plan.

However, for larger businesses, you have to break the personnel plan into functional groups such as sales and marketing.

The personnel plan will also include the cost of an employee beyond salary, commonly referred to as the employee burden. These costs include insurance, payroll taxes , and other essential costs incurred monthly as a result of having employees on your payroll.

3. Income Statement

The income statement section shows if your business is making a profit or taking a loss. Another name for the income statement is the profit and loss (P&L). It takes data from your sales forecast and personnel plan and adds other ongoing expenses you incur while running your business.

Every business plan should have an income statement. It subtracts your business expenses from its earnings to show if your business is generating profit or incurring losses.

The income statement has the following items: sales, Cost of Goods Sold (COGS), gross margin, operating expenses, total operating expenses, operating income , total expenses, and net profit.

Sales refer to the revenue your business generates from selling its products or services. Other names for sales are income or revenue.
Cost of Goods Sold (COGS) refers to the total cost of selling your products. Other names for COGS are direct costs or cost of sales. Manufacturing businesses use the Costs of Goods Manufactured (COGM) .
Gross Margin is the figure you get when you subtract your COGS from your sales. In your income statement, you can express it as a percentage of total sales (Gross margin / Sales = Gross Margin Percent).
Operating Expenses refer to all the expenses you incur from running your business. It exempts the COGS because it stands alone as a core part of your income statement. You also have to exclude taxes, depreciation, and amortization. Your operating expenses include salaries, marketing expenses, research and development (R&D) expenses, and other expenses.
Total Operating Expenses refers to the sum of all your operating expenses including those exemptions named above under operating expenses.
Operating Income refers to earnings before interest, taxes, depreciation, and amortization. It is simply known as the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization). Calculating your operating income is simple, all you need to do is to subtract your COGS and total operating expenses from your sales.
Total Expenses refer to the sum of your operating expenses and your business’ interest, taxes, depreciation, and amortization.
Net profit shows whether your business has made a profit or taken a loss during a given timeframe.

4. Cash Flow Statement

The cash flow statement tracks the money you have in the bank at any given point. It is often confused with the income statement or the profit and loss statement. They are both different types of financial statements. The income statement calculates your profits and losses while the cash flow statement shows you how much you have in the bank.

5. Balance Sheet

The balance sheet is a financial statement that provides an overview of the financial health of your business. It contains information about the assets and liabilities of your company, and owner’s or shareholders’ equity.

You can get the net worth of your company by subtracting your company’s liabilities from its assets.

6. Exit Strategy

The exit strategy refers to a probable plan for selling your business either to the public in an IPO or to another company. It is the last thing you include in the financial plan, metrics, and projection section.

You can choose to omit the exit strategy from your business plan if you plan to maintain full ownership of your business and do not plan on seeking angel investment or virtual capitalist (VC) funding.

Investors may want to know what your exit plan is. They invest in your business to get a good return on investment.

Your exit strategy does not have to include long and boring details. Ensure you identify some interested parties who may be interested in buying the company if it becomes a success.

Exit Strategy Section of Business Plan Infographic

Key Questions to Answer with Your Financial Plan, Metrics, and Projection

Your financial plan, metrics, and projection section helps investors, creditors, or your internal managers to understand what your expenses are, the amount of cash you need, and what it takes to make your company profitable. It also shows what you will be doing with any funding.

You do not need to show actual financial data if you do not have one. Adding forecasts and projections to your financial statements is added proof that your strategy is feasible and shows investors you have planned properly.

Here are some key questions to answer to help you develop this section.

What is your sales forecast for the next year?
When will your company achieve a positive cash flow?
What are the core expenses you need to operate?
How much money do you need upfront to operate or grow your company?
How will you use the loans or investments?

9. Add an Appendix to Your Business Plan

Adding an appendix to your business plan is optional. It is a useful place to put any charts, tables, legal notes, definitions, permits, résumés, and other critical information that do not fit into other sections of your business plan.

The appendix section is where you would want to include details of a patent or patent-pending if you have one. You can always add illustrations or images of your products here. It is the last section of your business plan.

When writing your business plan, there are details you cut short or remove to prevent the entire section from becoming too lengthy. There are also details you want to include in the business plan but are not a good fit for any of the previous sections. You can add that additional information to the appendix section.

Businesses also use the appendix section to include supporting documents or other materials specially requested by investors or lenders.

You can include just about any information that supports the assumptions and statements you made in the business plan under the appendix. It is the one place in the business plan where unrelated data and information can coexist amicably.

If your appendix section is lengthy, try organizing it by adding a table of contents at the beginning of the appendix section. It is also advisable to group similar information to make it easier for the reader to access them.

A well-organized appendix section makes it easier to share your information clearly and concisely. Add footnotes throughout the rest of the business plan or make references in the plan to the documents in the appendix.

The appendix section is usually only necessary if you are seeking funding from investors or lenders, or hoping to attract partners.

People reading business plans do not want to spend time going through a heap of backup information, numbers, and charts. Keep these documents or information in the Appendix section in case the reader wants to dig deeper.

Common Items to Include in the Appendix Section of Your Business Plan

The appendix section includes documents that supplement or support the information or claims given in other sections of the business plans. Common items you can include in the appendix section include:

Additional data about the process of manufacturing or creation
Additional description of products or services such as product schematics
Additional financial documents or projections
Articles of incorporation and status
Backup for market research or competitive analysis
Bank statements
Business registries
Client testimonials (if your business is already running)
Copies of insurances
Credit histories (personal or/and business)
Deeds and permits
Equipment leases
Examples of marketing and advertising collateral
Industry associations and memberships
Images of product
Intellectual property
Key customer contracts
Legal documents and other contracts
Letters of reference
Links to references
Market research data
Organizational charts
Photographs of potential facilities
Professional licenses pertaining to your legal structure or type of business
Purchase orders
Resumes of the founder(s) and key managers
State and federal identification numbers or codes
Trademarks or patents’ registrations

Avoid using the appendix section as a place to dump any document or information you feel like adding. Only add documents or information that you support or increase the credibility of your business plan.

Tips and Strategies for Writing a Convincing Business Plan

To achieve a perfect business plan, you need to consider some key tips and strategies. These tips will raise the efficiency of your business plan above average.

1. Know Your Audience

When writing a business plan, you need to know your audience . Business owners write business plans for different reasons. Your business plan has to be specific. For example, you can write business plans to potential investors, banks, and even fellow board members of the company.

The audience you are writing to determines the structure of the business plan. As a business owner, you have to know your audience. Not everyone will be your audience. Knowing your audience will help you to narrow the scope of your business plan.

Consider what your audience wants to see in your projects, the likely questions they might ask, and what interests them.

A business plan used to address a company's board members will center on its employment schemes, internal affairs, projects, stakeholders, etc.
A business plan for financial institutions will talk about the size of your market and the chances for you to pay back any loans you demand.
A business plan for investors will show proof that you can return the investment capital within a specific time. In addition, it discusses your financial projections, tractions, and market size.

2. Get Inspiration from People

Writing a business plan from scratch as an entrepreneur can be daunting. That is why you need the right inspiration to push you to write one. You can gain inspiration from the successful business plans of other businesses. Look at their business plans, the style they use, the structure of the project, etc.

To make your business plan easier to create, search companies related to your business to get an exact copy of what you need to create an effective business plan. You can also make references while citing examples in your business plans.

When drafting your business plan, get as much help from others as you possibly can. By getting inspiration from people, you can create something better than what they have.

3. Avoid Being Over Optimistic

Many business owners make use of strong adjectives to qualify their content. One of the big mistakes entrepreneurs make when preparing a business plan is promising too much.

The use of superlatives and over-optimistic claims can prepare the audience for more than you can offer. In the end, you disappoint the confidence they have in you.

In most cases, the best option is to be realistic with your claims and statistics. Most of the investors can sense a bit of incompetency from the overuse of superlatives. As a new entrepreneur, do not be tempted to over-promise to get the interests of investors.

The concept of entrepreneurship centers on risks, nothing is certain when you make future analyses. What separates the best is the ability to do careful research and work towards achieving that, not promising more than you can achieve.

To make an excellent first impression as an entrepreneur, replace superlatives with compelling data-driven content. In this way, you are more specific than someone promising a huge ROI from an investment.

4. Keep it Simple and Short

When writing business plans, ensure you keep them simple throughout. Irrespective of the purpose of the business plan, your goal is to convince the audience.

One way to achieve this goal is to make them understand your proposal. Therefore, it would be best if you avoid the use of complex grammar to express yourself. It would be a huge turn-off if the people you want to convince are not familiar with your use of words.

Another thing to note is the length of your business plan. It would be best if you made it as brief as possible.

You hardly see investors or agencies that read through an extremely long document. In that case, if your first few pages can’t convince them, then you have lost it. The more pages you write, the higher the chances of you derailing from the essential contents.

To ensure your business plan has a high conversion rate, you need to dispose of every unnecessary information. For example, if you have a strategy that you are not sure of, it would be best to leave it out of the plan.

5. Make an Outline and Follow Through

A perfect business plan must have touched every part needed to convince the audience. Business owners get easily tempted to concentrate more on their products than on other sections. Doing this can be detrimental to the efficiency of the business plan.

For example, imagine you talking about a product but omitting or providing very little information about the target audience. You will leave your clients confused.

To ensure that your business plan communicates your full business model to readers, you have to input all the necessary information in it. One of the best ways to achieve this is to design a structure and stick to it.

This structure is what guides you throughout the writing. To make your work easier, you can assign an estimated word count or page limit to every section to avoid making it too bulky for easy reading. As a guide, the necessary things your business plan must contain are:

Table of contents
Introduction
Product or service description
Target audience
Market size
Competition analysis
Financial projections

Some specific businesses can include some other essential sections, but these are the key sections that must be in every business plan.

6. Ask a Professional to Proofread

When writing a business plan, you must tie all loose ends to get a perfect result. When you are done with writing, call a professional to go through the document for you. You are bound to make mistakes, and the way to correct them is to get external help.

You should get a professional in your field who can relate to every section of your business plan. It would be easier for the professional to notice the inner flaws in the document than an editor with no knowledge of your business.

In addition to getting a professional to proofread, get an editor to proofread and edit your document. The editor will help you identify grammatical errors, spelling mistakes, and inappropriate writing styles.

Writing a business plan can be daunting, but you can surmount that obstacle and get the best out of it with these tips.

Business Plan Examples and Templates That’ll Save You Tons of Time

1. hubspot's one-page business plan.

The one-page business plan template by HubSpot is the perfect guide for businesses of any size, irrespective of their business strategy. Although the template is condensed into a page, your final business plan should not be a page long! The template is designed to ask helpful questions that can help you develop your business plan.

Hubspot’s one-page business plan template is divided into nine fields:

Business opportunity
Company description
Industry analysis
Target market
Implementation timeline
Marketing plan
Financial summary
Funding required

2. Bplan’s Free Business Plan Template

Bplans' free business plan template is investor-approved. It is a rich template used by prestigious educational institutions such as Babson College and Princeton University to teach entrepreneurs how to create a business plan.

The template has six sections: the executive summary, opportunity, execution, company, financial plan, and appendix. There is a step-by-step guide for writing every little detail in the business plan. Follow the instructions each step of the way and you will create a business plan that impresses investors or lenders easily.

3. HubSpot's Downloadable Business Plan Template

HubSpot’s downloadable business plan template is a more comprehensive option compared to the one-page business template by HubSpot. This free and downloadable business plan template is designed for entrepreneurs.

The template is a comprehensive guide and checklist for business owners just starting their businesses. It tells you everything you need to fill in each section of the business plan and how to do it.

There are nine sections in this business plan template: an executive summary, company and business description, product and services line, market analysis, marketing plan, sales plan, legal notes, financial considerations, and appendix.

4. Business Plan by My Own Business Institute

My Own Business Institute (MOBI) which is a part of Santa Clara University's Center for Innovation and Entrepreneurship offers a free business plan template. You can either copy the free business template from the link provided above or download it as a Word document.

The comprehensive template consists of a whopping 15 sections.

The Business Profile
The Vision and the People
Home-Based Business and Freelance Business Opportunities
Organization
Licenses and Permits
Business Insurance
Communication Tools
Acquisitions
Location and Leasing
Accounting and Cash Flow
Opening and Marketing
Managing Employees
Expanding and Handling Problems

There are lots of helpful tips on how to fill each section in the free business plan template by MOBI.

5. Score's Business Plan Template for Startups

Score is an American nonprofit organization that helps entrepreneurs build successful companies. This business plan template for startups by Score is available for free download. The business plan template asks a whooping 150 generic questions that help entrepreneurs from different fields to set up the perfect business plan.

The business plan template for startups contains clear instructions and worksheets, all you have to do is answer the questions and fill the worksheets.

There are nine sections in the business plan template: executive summary, company description, products and services, marketing plan, operational plan, management and organization, startup expenses and capitalization, financial plan, and appendices.

The ‘refining the plan’ resource contains instructions that help you modify your business plan to suit your specific needs, industry, and target audience. After you have completed Score’s business plan template, you can work with a SCORE mentor for expert advice in business planning.

6. Minimalist Architecture Business Plan Template by Venngage

The minimalist architecture business plan template is a simple template by Venngage that you can customize to suit your business needs .

There are five sections in the template: an executive summary, statement of problem, approach and methodology, qualifications, and schedule and benchmark. The business plan template has instructions that guide users on what to fill in each section.

7. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers two free business plan templates, filled with practical real-life examples that you can model to create your business plan. Both free business plan templates are written by fictional business owners: Rebecca who owns a consulting firm, and Andrew who owns a toy company.

There are five sections in the two SBA’s free business plan templates.

Executive Summary
Company Description
Service Line
Marketing and Sales

8. The $100 Startup's One-Page Business Plan

The one-page business plan by the $100 startup is a simple business plan template for entrepreneurs who do not want to create a long and complicated plan . You can include more details in the appendices for funders who want more information beyond what you can put in the one-page business plan.

There are five sections in the one-page business plan such as overview, ka-ching, hustling, success, and obstacles or challenges or open questions. You can answer all the questions using one or two sentences.

9. PandaDoc’s Free Business Plan Template

The free business plan template by PandaDoc is a comprehensive 15-page document that describes the information you should include in every section.

There are 11 sections in PandaDoc’s free business plan template.

Executive summary
Business description
Products and services
Operations plan
Management organization
Financial plan
Conclusion / Call to action
Confidentiality statement

You have to sign up for its 14-day free trial to access the template. You will find different business plan templates on PandaDoc once you sign up (including templates for general businesses and specific businesses such as bakeries, startups, restaurants, salons, hotels, and coffee shops)

PandaDoc allows you to customize its business plan templates to fit the needs of your business. After editing the template, you can send it to interested parties and track opens and views through PandaDoc.

10. Invoiceberry Templates for Word, Open Office, Excel, or PPT

InvoiceBerry is a U.K based online invoicing and tracking platform that offers free business plan templates in .docx, .odt, .xlsx, and .pptx formats for freelancers and small businesses.

Before you can download the free business plan template, it will ask you to give it your email address. After you complete the little task, it will send the download link to your inbox for you to download. It also provides a business plan checklist in .xlsx file format that ensures you add the right information to the business plan.

Alternatives to the Traditional Business Plan

A business plan is very important in mapping out how one expects their business to grow over a set number of years, particularly when they need external investment in their business. However, many investors do not have the time to watch you present your business plan. It is a long and boring read.

Luckily, there are three alternatives to the traditional business plan (the Business Model Canvas, Lean Canvas, and Startup Pitch Deck). These alternatives are less laborious and easier and quicker to present to investors.

Business Model Canvas (BMC)

The business model canvas is a business tool used to present all the important components of setting up a business, such as customers, route to market, value proposition, and finance in a single sheet. It provides a very focused blueprint that defines your business initially which you can later expand on if needed.

The sheet is divided mainly into company, industry, and consumer models that are interconnected in how they find problems and proffer solutions.

Segments of the Business Model Canvas

The business model canvas was developed by founder Alexander Osterwalder to answer important business questions. It contains nine segments.

Key Partners: Who will be occupying important executive positions in your business? What do they bring to the table? Will there be a third party involved with the company?
Key Activities: What important activities will production entail? What activities will be carried out to ensure the smooth running of the company?
The Product’s Value Propositions: What does your product do? How will it be different from other products?
Customer Segments: What demography of consumers are you targeting? What are the habits of these consumers? Who are the MVPs of your target consumers?
Customer Relationships: How will the team support and work with its customer base? How do you intend to build and maintain trust with the customer?
Key Resources: What type of personnel and tools will be needed? What size of the budget will they need access to?
Channels: How do you plan to create awareness of your products? How do you intend to transport your product to the customer?
Cost Structure: What is the estimated cost of production? How much will distribution cost?
Revenue Streams: For what value are customers willing to pay? How do they prefer to pay for the product? Are there any external revenues attached apart from the main source? How do the revenue streams contribute to the overall revenue?

Lean Canvas

The lean canvas is a problem-oriented alternative to the standard business model canvas. It was proposed by Ash Maurya, creator of Lean Stack as a development of the business model generation. It uses a more problem-focused approach and it majorly targets entrepreneurs and startup businesses.

Lean Canvas uses the same 9 blocks concept as the business model canvas, however, they have been modified slightly to suit the needs and purpose of a small startup. The key partners, key activities, customer relationships, and key resources are replaced by new segments which are:

Problem: Simple and straightforward number of problems you have identified, ideally three.
Solution: The solutions to each problem.
Unfair Advantage: Something you possess that can't be easily bought or replicated.
Key Metrics: Important numbers that will tell how your business is doing.

Startup Pitch Deck

While the business model canvas compresses into a factual sheet, startup pitch decks expand flamboyantly.

Pitch decks, through slides, convey your business plan, often through graphs and images used to emphasize estimations and observations in your presentation. Entrepreneurs often use pitch decks to fully convince their target audience of their plans before discussing funding arrangements.

Considering the likelihood of it being used in a small time frame, a good startup pitch deck should ideally contain 20 slides or less to have enough time to answer questions from the audience.

Unlike the standard and lean business model canvases, a pitch deck doesn't have a set template on how to present your business plan but there are still important components to it. These components often mirror those of the business model canvas except that they are in slide form and contain more details.

Using Airbnb (one of the most successful start-ups in recent history) for reference, the important components of a good slide are listed below.

Cover/Introduction Slide: Here, you should include your company's name and mission statement. Your mission statement should be a very catchy tagline. Also, include personal information and contact details to provide an easy link for potential investors.
Problem Slide: This slide requires you to create a connection with the audience or the investor that you are pitching. For example in their pitch, Airbnb summarized the most important problems it would solve in three brief points – pricing of hotels, disconnection from city culture, and connection problems for local bookings.
Solution Slide: This slide includes your core value proposition. List simple and direct solutions to the problems you have mentioned
Customer Analysis: Here you will provide information on the customers you will be offering your service to. The identity of your customers plays an important part in fundraising as well as the long-run viability of the business.
Market Validation: Use competitive analysis to show numbers that prove the presence of a market for your product, industry behavior in the present and the long run, as well as the percentage of the market you aim to attract. It shows that you understand your competitors and customers and convinces investors of the opportunities presented in the market.
Business Model: Your business model is the hook of your presentation. It may vary in complexity but it should generally include a pricing system informed by your market analysis. The goal of the slide is to confirm your business model is easy to implement.
Marketing Strategy: This slide should summarize a few customer acquisition methods that you plan to use to grow the business.
Competitive Advantage: What this slide will do is provide information on what will set you apart and make you a more attractive option to customers. It could be the possession of technology that is not widely known in the market.
Team Slide: Here you will give a brief description of your team. Include your key management personnel here and their specific roles in the company. Include their educational background, job history, and skillsets. Also, talk about their accomplishments in their careers so far to build investors' confidence in members of your team.
Traction Slide: This validates the company’s business model by showing growth through early sales and support. The slide aims to reduce any lingering fears in potential investors by showing realistic periodic milestones and profit margins. It can include current sales, growth, valuable customers, pre-orders, or data from surveys outlining current consumer interest.
Funding Slide: This slide is popularly referred to as ‘the ask'. Here you will include important details like how much is needed to get your business off the ground and how the funding will be spent to help the company reach its goals.
Appendix Slides: Your pitch deck appendix should always be included alongside a standard pitch presentation. It consists of additional slides you could not show in the pitch deck but you need to complement your presentation.

It is important to support your calculations with pictorial renditions. Infographics, such as pie charts or bar graphs, will be more effective in presenting the information than just listing numbers. For example, a six-month graph that shows rising profit margins will easily look more impressive than merely writing it.

Lastly, since a pitch deck is primarily used to secure meetings and you may be sharing your pitch with several investors, it is advisable to keep a separate public version that doesn't include financials. Only disclose the one with projections once you have secured a link with an investor.

Advantages of the Business Model Canvas, Lean Canvas, and Startup Pitch Deck over the Traditional Business Plan

Time-Saving: Writing a detailed traditional business plan could take weeks or months. On the other hand, all three alternatives can be done in a few days or even one night of brainstorming if you have a comprehensive understanding of your business.
Easier to Understand: Since the information presented is almost entirely factual, it puts focus on what is most important in running the business. They cut away the excess pages of fillers in a traditional business plan and allow investors to see what is driving the business and what is getting in the way.
Easy to Update: Businesses typically present their business plans to many potential investors before they secure funding. What this means is that you may regularly have to amend your presentation to update statistics or adjust to audience-specific needs. For a traditional business plan, this could mean rewriting a whole section of your plan. For the three alternatives, updating is much easier because they are not voluminous.
Guide for a More In-depth Business Plan: All three alternatives have the added benefit of being able to double as a sketch of your business plan if the need to create one arises in the future.

Business Plan FAQ

Business plans are important for any entrepreneur who is looking for a framework to run their company over some time or seeking external support. Although they are essential for new businesses, every company should ideally have a business plan to track their growth from time to time. They can be used by startups seeking investments or loans to convey their business ideas or an employee to convince his boss of the feasibility of starting a new project. They can also be used by companies seeking to recruit high-profile employee targets into key positions or trying to secure partnerships with other firms.

Business plans often vary depending on your target audience, the scope, and the goals for the plan. Startup plans are the most common among the different types of business plans. A start-up plan is used by a new business to present all the necessary information to help get the business up and running. They are usually used by entrepreneurs who are seeking funding from investors or bank loans. The established company alternative to a start-up plan is a feasibility plan. A feasibility plan is often used by an established company looking for new business opportunities. They are used to show the upsides of creating a new product for a consumer base. Because the audience is usually company people, it requires less company analysis. The third type of business plan is the lean business plan. A lean business plan is a brief, straight-to-the-point breakdown of your ideas and analysis for your business. It does not contain details of your proposal and can be written on one page. Finally, you have the what-if plan. As it implies, a what-if plan is a preparation for the worst-case scenario. You must always be prepared for the possibility of your original plan being rejected. A good what-if plan will serve as a good plan B to the original.

A good business plan has 10 key components. They include an executive plan, product analysis, desired customer base, company analysis, industry analysis, marketing strategy, sales strategy, financial projection, funding, and appendix. Executive Plan Your business should begin with your executive plan. An executive plan will provide early insight into what you are planning to achieve with your business. It should include your mission statement and highlight some of the important points which you will explain later. Product Analysis The next component of your business plan is your product analysis. A key part of this section is explaining the type of item or service you are going to offer as well as the market problems your product will solve. Desired Consumer Base Your product analysis should be supplemented with a detailed breakdown of your desired consumer base. Investors are always interested in knowing the economic power of your market as well as potential MVP customers. Company Analysis The next component of your business plan is your company analysis. Here, you explain how you want to run your business. It will include your operational strategy, an insight into the workforce needed to keep the company running, and important executive positions. It will also provide a calculation of expected operational costs. Industry Analysis A good business plan should also contain well laid out industry analysis. It is important to convince potential investors you know the companies you will be competing with, as well as your plans to gain an edge on the competition. Marketing Strategy Your business plan should also include your marketing strategy. This is how you intend to spread awareness of your product. It should include a detailed explanation of the company brand as well as your advertising methods. Sales Strategy Your sales strategy comes after the market strategy. Here you give an overview of your company's pricing strategy and how you aim to maximize profits. You can also explain how your prices will adapt to market behaviors. Financial Projection The financial projection is the next component of your business plan. It explains your company's expected running cost and revenue earned during the tenure of the business plan. Financial projection gives a clear idea of how your company will develop in the future. Funding The next component of your business plan is funding. You have to detail how much external investment you need to get your business idea off the ground here. Appendix The last component of your plan is the appendix. This is where you put licenses, graphs, or key information that does not fit in any of the other components.

The business model canvas is a business management tool used to quickly define your business idea and model. It is often used when investors need you to pitch your business idea during a brief window.

A pitch deck is similar to a business model canvas except that it makes use of slides in its presentation. A pitch is not primarily used to secure funding, rather its main purpose is to entice potential investors by selling a very optimistic outlook on the business.

Business plan competitions help you evaluate the strength of your business plan. By participating in business plan competitions, you are improving your experience. The experience provides you with a degree of validation while practicing important skills. The main motivation for entering into the competitions is often to secure funding by finishing in podium positions. There is also the chance that you may catch the eye of a casual observer outside of the competition. These competitions also provide good networking opportunities. You could meet mentors who will take a keen interest in guiding you in your business journey. You also have the opportunity to meet other entrepreneurs whose ideas can complement yours.

Exlore Further

12 Key Elements of a Business Plan (Top Components Explained)
13 Sources of Business Finance For Companies & Sole Traders
5 Common Types of Business Structures (+ Pros & Cons)
How to Buy a Business in 8 Steps (+ Due Diligence Checklist)

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Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

22 Product Ideas Worth Considering for Your Business in 2024

Updated: Jun. 05, 2024

14 min read

shopping cart on laptop keyboard representing product ideas to sell

TABLE OF CONTENTS

How to Find Product Ideas to Sell Online

22 new product ideas to consider, closing thoughts on new product ideas.

Whether you’re starting an eCommerce business or already run one, you may be on the hunt for some winning product ideas. In fact, one of the most challenging tasks facing entrepreneurs at the helm of an eCommerce business is deciding what to sell. Whether you want to sell a single item or create a business of many related products, it can be difficult to find and decide on new product ideas.

That said, below explores how to ideate a product to sell online. After that is a list of 22 product ideas to consider selling in 2024.

As previously stated, finding new product ideas to sell online presents many challenges. Depending on where you’re based, you may even be restricted by regulations for the products you’re interested in selling. However, you have to have a product idea before you can proceed any further. This idea will be the key to establishing your business plan down the road. So, how can you explore and evaluate your product ideas?

The first and foremost approach to finding a new product idea is to brainstorm. Grab a notebook and a pen, then jot down anything that comes to mind. Here are some prompts:

Think through your day and the things you use every morning, afternoon, and night.
Try to remember the last thing you were grateful you owned. Why do you love it?
Try to think of something you own but don’t love. Can it be improved? Where does it fall short for you?
Look around the room and jot down anything that seems positively or negatively noteworthy to start your search.

Talk to friends and family

You won’t necessarily be your own target demographic , so it can be helpful to ask friends and family members what products they love. Ask them for the products they don’t love. What about it don’t they like? Do they have any product ideas they think you should sell? All of these questions can help spark an idea for a winning product.

Look at potential competitors

There’s no need to reinvent the wheel. Take a look at companies doing well and make note of what they sell. Look at competitors as a testament to what’s possible instead of a barrier to entering the market.

Consider how you will be selling products

In addition to deciding what product to sell and how to source that product , you’ll have to choose how to sell that product to the public. Below are a few thoughts to consider:

Will you be selling products online or in store ?
Will you be dropshipping or wholesaling your products?
What online marketplaces will you be taking advantage of?
Will you be selling digital products instead of physical goods?

Now that you understand a few techniques to spark inspiration for product ideas, it’s time to consider some of the most trending products and services of 2024. These products range from small to big and simple to complex, so there’s something for every kind of entrepreneurial spirit.

1. Air fryers

Among kitchen appliances, air fryers are particularly expected to rise in popularity due to technological advancements and increasing health consciousness among the public. [1] Grand View Research. “ Air Fryer Market Size, Share & Trends Analysis Report By Product (Manual, Digital), By Distribution Channel (Offline, Online), By Region (North America, Europe, APAC, MEA, Central & South America), And Segment Forecasts, 2019 – 2025 “. Accessed April 8, 2022. The technological advancements include LED screens, intelligent sensors, touchpads, and increased energy efficiency. As for its health impact, some consumers have adopted oil-free diets or limited their oil consumption to address cholesterol levels. Air fryers provide snacks with the same crunch sans oil.

2. Air-quality appliances

The piqued interest in air quality can not only be attributed to the COVID-19 pandemic, but also to increased concern about climate change. Of appliances that promise to address air quality issues, humidifiers and air purifiers are two of the most accessible product ideas through which to enter this market. [2] Grand View Research. “ Household Humidifier Market Size, Share & Trends Analysis Report By Product (Portable (Ultrasonic, Cool Mist, Warm Mist), Whole-house), By Distribution Channel (Offline, Online), And Segment Forecasts, 2019 – 2025″. Accessed April 8, 2022. [3] Grand View Research. “ Air Purifier Market Size, Share & Trends Analysis Report By Technology (HEPA, Activated Carbon, Ionic Filters), By Application (Commercial, Residential, Industrial), By Region, And Segment Forecasts, 2022 – 2030 “. Accessed April 8, 2022.

Humidifiers increase the humidity in a room, thus addressing the issue of dry air that can irritate and inflame airways. While humidifiers won’t cure an illness, they will make the symptoms of colds, flu, asthma, bronchitis, and sinusitis more manageable. They aren’t meant for long-term use, but rather to specifically address dry air if/when it occurs, often during winter due to the use of heaters.

Air purifiers, on the other hand, remove pollutants from the air through the use of two basic components: a fan and a filter. The pollutants air purifiers remove from the air vary between products, but can include dust mites, pet dander, pollen, and/or mold spores. The removable of such reduces allergy and asthma triggers.

3. At-home fitness equipment

woman practicing yoga at home - ecommerce product ideas

Owing some popularity to 2020’s closure of gyms and other workout facilities, at-home fitness equipment saw a boom. [4] Grand View Research. “ Sports Equipment Market Size, Share & Trends Analysis Report By Product (Ball Over Net Games, Ball Games, Fitness/Strength Equipment, Athletic Training Equipment), By Distribution Channel, By Region, And Segment Forecasts, 2022 – 2030 “. Accessed April 8, 2022. However, this popularity, as well as its longevity, is due more so to societal health concerns and technological advancements. Improvements in the accessibility and quality of live streaming now make it possible for audiences seeking a guided workout to do so from the comfort of their own home.

The most popular at-home workout equipment items are yoga mats, resistance bands, and stationary bikes, any of which are excellent product ideas to consider if you’re interested in this space.

4. Baby products

The baby product market is set to grow due to emerging economies, specifically those of India and China. [5] Grand View Research. “ Baby Products Market Size Worth $16.78 Billion By 2025 | CAGR: 5.5% “. Accessed April 8, 2022. Likewise, the increased spending capacity of North America, Europe, and other developed nations contribute to this industry’s growth. The combination of expectant parents’ awareness about infant safety and innovation in the field makes for a market of new and necessary items.

In this market, breast pumps, front-facing baby carrying straps, and baby bouncers are especially popular products to sell.

Unlike many of the products on this list, candles have the added benefit of being consumable in that after all the wax has been burned, they are disposed of. If the consumer likes the scent, they’ll have to purchase the candle again. Thus, this is a market ripe for repeat customers. The candle market also fares well during recessions, as those staying home to save money may still buy candles as a small indulgence.

What makes all types of candles such excellent product ideas to consider is their ability to easily fit into many different businesses. You don’t specifically have to be a candle business to sell candles. Hotels, beauty brands, and other various companies already sell candles. In doing so, companies simultaneously market and sell.

6. Cannabis products

cbd plant and oil for online business product ideas

By 2028, the global cannabis market is projected to grow to $70.6 billion. [6] Grand View Research. “ Legal Marijuana Market Worth $70.6 Billion By 2028 | CAGR: 26.7% “. Accessed April 8, 2022. Though, its popularity isn’t necessarily new. The United Nations Office on Drugs and Crime reports that it’s the most widely cultivated, trafficked, and used drug in the world. What’s new is the drug’s legalization and societal views of it. [7] UN-iLibrary. “ World Drug Report “. Accessed April 8, 2022.

In terms of societal views, the medicinal uses of cannabis are taken more seriously and stereotypical views of users of the product have been shaken. Meanwhile, the drug’s legalization is sweeping through the United States, with 35 states and Washington D.C. legalizing it for medical use, 16 of which legalized it recreationally. It’s also decriminalized and/or allowed for medical use in areas of Africa, Australia, Europe, and North and South America.

The legal status of cannabis worldwide, however, can be a drawback for those considering product ideas in this industry. Many countries still impose harsh punishments for cannabis.

In the United States, CBD products, not THC products, are legal in every state. Starting a CBD product-based business is one way to corner that market, as it’s legal to sell CBD products online in all 50 states. Just makes sure you’re keeping up to date with both local and federal legislation prior to selling online.

7. Car accessories

The average American reportedly spends eight hours and 22 minutes per week driving, which adds up to 18 days of driving per year. [8] Car Connection. “ Study: Americans spend 18 days in their car per year, forge close bonds with a vehicle “. Accessed April 8, 2022. In 2019, the average one-way commute in the United States increased to a new high of 27.6 minutes. On top of that, ride-hailing apps like Uber and Lyft, as well as food delivery apps, have turned one’s car into their way to clock into their gig. Be it commuting to work or working by way of a car, cars have become a vital part of the workday.

That said, car accessories are a growing market ripe with several different product ideas for you to sell. [9] Cision PR Newswire. “ Global Car Accessories Market is Likely to Cross almost USD 753.05 Billion by end of 2028 – Zion Market Research “. Accessed April 8, 2022. The most popular products in this industry are air fresheners, organizers, rear cameras, seat covers, and USB chargers.

8. Cell phone accessories

97 percent of Americans have cell phones. That means that when you sell cell phone accessories, 97 percent of the United States is your potential customer base. Not many industries can say the same.

The most popular are phone-related product ideas are those that make phones more useful, less breakable, more efficient, or last longer. These accessories include phone tripods, power banks, wireless headphones, and wireless charging stations.

boy playing with drone - product ideas for online business

The drone market is often broken down into three types of applications: military, commercial, and consumer.

Military and commercial sectors have adopted the use of drones as a means of surveillance. This technology allows for surveillance without human error, as well as significantly reducing the labor and other resources necessary for such.

As for the consumer side, improvements in drones have made this technology available to the average consumer, thus widening the market to include hobbyists.

As a result of all of these factors, the market is expected to grow at a compound annual growth rate of over 16 percent between 2021 and 2026. [10] Grand View Research. “ Commercial Drone Market Worth $501.4 Billion By 2028 | CAGR: 57.5% “. Accessed April 8, 2022.

10. eLearning courses

Subscription eLearning courses have become a popular product to sell online because of their low startup cost and ability to be sold over and over. [11] Globe Newswire. “ Global Massive Open Online Course Market (2021 to 2026) – by Technology, Course Type, Provider Type and Subscription Model “. Accessed April 8, 2022. The potential upside to this product idea is exponential. The only major investment being the time it takes to create the eLearning course.

Every business owner is an expert in something, even if it’s simply maintaining a business, so you already possess the information itself. Now, you just have to commodity your expertise.

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11. Hair scrunchies

Due to the fickleness of trends, fashion and beauty product ideas can be difficult to invest in. That said, hair scrunchies are still a viable product to sell in 2024. Their “comeback” year was 2020, during which Pinterest reported scrunchies were their top-ranking beauty trend outranking all others by over 6,309 percent. [12] Refinery29. “ Proof That Scrunchies Are Back In A Big Way For Fall 2020 “. Accessed April 8, 2022. Because of the product’s low cost, scrunchies remain a genius product to sell, even if the trend loses some of its incredible popularity in the coming years.

12. Home office solutions

woman working from home on product ideas to sell online

United States office occupancy rose in August 2021 from 33 percent to 40 percent, still leaving a majority of office employees working remotely. [13] The New York Times. “ The End of a Return-to-Office Date “. Accessed April 8, 2022. Recently, Apple, Ford, CNN, Google, and other major companies postponed their return-to-office dates. Lyft now says the earliest employees will be required to return to the office is sometime in 2024.

This means, for many, another possible year of working remotely, as well as a workforce that may never fully return to the previous in-office levels. What might be bad news for commercial real estate developers can be good news to you, as at-home office product ideas remain popular. This includes wifi repeaters and range extenders, seat cushions, office chairs, standing desks, and lumbar pillows.

13. IoT devices

The phrase “Internet of Things” (IoT) describes objects that have sensors, software, and technologies that connect with other devices or systems over the Internet. These products include smartphones, smart refrigerators, smartwatches, smart cars, smart security sensors, smart light bulbs. A good rule of thumb is that if it begins with“smart,” it’s likely an IoT device.

As technology evolves, more and more products will be turned into IoT devices, thus creating an ever-expanding selection of product ideas to sell. The drawback of these products, of course, is that they may not be within your business’ budget.

14. Jewelry

80 percent of consumers are more likely to purchase from a business providing personalization. [14] Yieldify. “ Personalization Technology: Landscape & Trends for 2021 “. Accessed April 8, 2022. This decade-long trend, showing no sign of slowing down, has revitalized the jewelry market. Now items as personal as jewelry can be even more personal through customization. The marketplace on Etsy, especially, allows consumers to shop for personalized jewelry from sellers big and small.

In particular, jewelry is an especially popular product idea for eCommerce businesses because they’re lightweight, easy to ship, and in-demand all year. Though, it’s important to guard against fraud in your eCommerce business when selling expensive, high-end jewelry.

15. Pandemic-related items with longevity

The beginning of the COVID-19 pandemic changed the markets in the blink of an eye. Suddenly, toilet paper, sanitizer, and face masks were the most sought-after products for consumers. The demand for such products has since dwindled back to pre-pandemic levels. However, there are some product ideas to which the pandemic brought attention that remain popular. These include infrared thermometers, smart soap dispensers, board games, and puzzles. Even pulse oximeters remain popular, as they’ve been repurposed for use by healthy individuals to monitor their bodies.

16. Reusable water bottles

woman holding reusable water bottle - what products I can sell

The increasing concern for the condition of the environment has expanded the demand for reusable water bottles. [15] Grand View Research. “ Reusable Water Bottle Market Size, Share & Trends Analysis Report By Material Type (Glass, Plastic, Stainless Steel), By Distribution Channel (Supermarkets & Hypermarkets, Online), By Region, And Segment Forecasts, 2022 – 2030 “. Accessed April 8, 2022. Reports indicate that younger generations, particularly Millennials and Generation Z, are significantly more concerned about sustainability than older generations. [16] Science Daily. “ Millennials and Generation Z are more sustainability-orientated — even when it comes to money, researchers find “. Accessed April 8, 2022. This means the trend toward sustainable products, reusable water bottles included, is likely here to stay.

What makes this product idea great is that reusable water bottles can be sold by any business to further define their brand through shape, logo, coloring, or other water bottle design options. Essentially, it’s environmentally-friendly marketing.

If you have a talent for coding and a problem to solve, SaaS (Software as a Service) may be a perfect product idea for you to sell. SaaS products are created all the time to solve problems for both consumers (B2C) and businesses (B2B).

The key to success in building a SaaS product is to keep an open dialogue with your target end-users through development, as well as keeping the lines of communication open by offering tech support services . This way, you ensure your end-product really solves their problems.

18. Sex toys

Due to recent societal shifts regarding sexuality, sex toys are no longer as taboo as they once were. As a result of sex toys’ step toward the mainstream, selling sex toys is becoming an increasingly lucrative industry with a trove of product ideas to sell.

There’s also been a recent rethinking of sexuality as an avenue through which to perform self-care and achieve wellness. Thus, the wellness trend has also helped sex toys grow in popularity.

With a new wave of “sex tech” (sex toys with a technological angle, falling into the category of IoT), this market seems poised to evolve and further expand, all while becoming more mainstream. Sex toys make for excellent.

19. Shapewear

Shapewear has been on the rise for some time. In particular, 2018 saw a 143 percent surge in shapewear line debuts. [17] Grand View Research. “ Shapewear Market Size, Share & Trends Analysis Report By End User (Male, Female), By Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, Online), By Region, And Segment Forecasts, 2021 – 2028 “. Accessed April 8, 2022. Then, in 2019, Kim Kardashian launched her shapewear company Skims.

It’s important to note that continued growth in this sector will reflect changing cultural notions. It’s no longer about shapewear as a product to change a woman’s body for external approval. (Women comprise 94 percent of this market.) Instead, the future of shapewear will focus on inclusivity and body positivity.

Athleisure is a similar product idea expected to see significant growth in the coming years. With more people working remotely, dressing for the office has been replaced with dressing for comfort.

20. Smart lighting

smart home dashboard - product ideas for a business

The smart lighting market is expected to grow at a compound annual growth rate of 20.4 percent between 2021 to 2028. [18] Grand View Research. “ Smart Lighting Market Size, Share & Trends Analysis Report By Component, By Connectivity (Wired, Wireless), By Application (Indoor, Outdoor), By Region, And Segment Forecasts, 2021 – 2028 “. Accessed April 8, 2022. As an IoT device, smart lighting product ideas earned their own place on this list due to this incredible expected growth rate.

For consumers wanting to upgrade products to the “smart” version of a product, a smart refrigerator or smart car may not be in their budget. However, a smart bulb is much more budget-friendly. Additionally, smart lighting can revolutionize a space through dimming and coloring options, all while gifting consumers the ability to turn off a light from the comfort of their bed.

As IoT devices sweep the marketplace, more affordable entry points are great products to sell, as they’re more likely to fit within your and your consumer’s budgets.

21. Skincare products

By some estimates, the average American spends $322.88 on skincare per year. [19] Fox Business. “ Americans will spend $15G on lifetime skincare, this cosmetics retailer claims “. Accessed April 8, 2022. This adds up to $15,000 spent during what is considered the “skincare shopping years” of one’s life. As a merchant, if you’re considering product ideas that will compete for a piece of that $15,000, enter the skincare market. However, this industry is trickier to break into than others on this list due to the need for various licenses and safety tests. That said, it may be a more attractive business option for the right entrepreneur due to those higher barriers to entry.

22. Subscription boxes

Subscription boxes are uniquely attractive product ideas to sell due to the subscription’s recurring payment . In landing a customer, you land a repeat customer for as long as they subscribe.

Specifically, food delivery kits have soared in popularity as consumers have become more health-conscious. If you have a knack for creating recipes and a passion for making people’s lives easier, this may be the perfect opportunity for you. There are a variety of potential spins you can put on the business model, allowing you to create a service that’s true to you.

Meanwhile, entire business empires have been built on themed subscription boxes, from beauty products to cocktail ingredients to socks of the month. Can you come up with a new one or improve on an existing one?

Now that you understand how to find a product to sell online and have 22 ideas for products poised to be popular throughout 2024, you’re better equipped to handle the ever-changing market.

With these new product ideas and tools to evaluate them, you can brainstorm, launch, and start accepting payments for your eCommerce business . Remember it’s not always about what you sell, it’s about how you sell it.

Ready to Start Your Business? We can help with the payment side of things

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Article Sources

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Grand View Research. “ Household Humidifier Market Size, Share & Trends Analysis Report By Product (Portable (Ultrasonic, Cool Mist, Warm Mist), Whole-house), By Distribution Channel (Offline, Online), And Segment Forecasts, 2019 – 2025″. Accessed April 8, 2022.
Grand View Research. “ Air Purifier Market Size, Share & Trends Analysis Report By Technology (HEPA, Activated Carbon, Ionic Filters), By Application (Commercial, Residential, Industrial), By Region, And Segment Forecasts, 2022 – 2030 “. Accessed April 8, 2022.
Grand View Research. “ Sports Equipment Market Size, Share & Trends Analysis Report By Product (Ball Over Net Games, Ball Games, Fitness/Strength Equipment, Athletic Training Equipment), By Distribution Channel, By Region, And Segment Forecasts, 2022 – 2030 “. Accessed April 8, 2022.
Grand View Research. “ Baby Products Market Size Worth $16.78 Billion By 2025 | CAGR: 5.5% “. Accessed April 8, 2022.
Grand View Research. “ Legal Marijuana Market Worth $70.6 Billion By 2028 | CAGR: 26.7% “. Accessed April 8, 2022.
UN-iLibrary. “ World Drug Report “. Accessed April 8, 2022.
Car Connection. “ Study: Americans spend 18 days in their car per year, forge close bonds with a vehicle “. Accessed April 8, 2022.
Cision PR Newswire. “ Global Car Accessories Market is Likely to Cross almost USD 753.05 Billion by end of 2028 – Zion Market Research “. Accessed April 8, 2022.
Grand View Research. “ Commercial Drone Market Worth $501.4 Billion By 2028 | CAGR: 57.5% “. Accessed April 8, 2022.
Globe Newswire. “ Global Massive Open Online Course Market (2021 to 2026) – by Technology, Course Type, Provider Type and Subscription Model “. Accessed April 8, 2022.
Refinery29. “ Proof That Scrunchies Are Back In A Big Way For Fall 2020 “. Accessed April 8, 2022.
The New York Times. “ The End of a Return-to-Office Date “. Accessed April 8, 2022.
Yieldify. “ Personalization Technology: Landscape & Trends for 2021 “. Accessed April 8, 2022.
Grand View Research. “ Reusable Water Bottle Market Size, Share & Trends Analysis Report By Material Type (Glass, Plastic, Stainless Steel), By Distribution Channel (Supermarkets & Hypermarkets, Online), By Region, And Segment Forecasts, 2022 – 2030 “. Accessed April 8, 2022.
Science Daily. “ Millennials and Generation Z are more sustainability-orientated — even when it comes to money, researchers find “. Accessed April 8, 2022.
Grand View Research. “ Shapewear Market Size, Share & Trends Analysis Report By End User (Male, Female), By Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, Online), By Region, And Segment Forecasts, 2021 – 2028 “. Accessed April 8, 2022.
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Fox Business. “ Americans will spend $15G on lifetime skincare, this cosmetics retailer claims “. Accessed April 8, 2022.

Brontë Fyke

Brontë is a UX/UI designer and marketer based in Los Angeles, CA. She's been creating and promoting content for over 6 years, covering a range of topics in the payment processing industry. Brontë is currently the Director of Marketing at PaymentCloud, a merchant services provider that offers business solutions for companies in all industries - no matter the risk.

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40 Startup Business Ideas to Try in 2024

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Aspiring entrepreneurs are often one brilliant startup business idea away from becoming their own boss. Of course, brilliance is easier said than done when starting a business .

The best startup ideas have business plans that solve a problem, meet an unmet demand or improve upon something already on the market — if not all of the above. Here are 40 ideas to help get your wheels turning as you look to bring a company to life.

40 best startup business ideas

Even startup ideas that seemingly come out of left field can yield incredible success. Read through this list for instant inspiration.

1. Create educational content or activities

Parents are always looking for tools and activities to keep their kids entertained and engaged. Printable activity guides for different age groups, home-school lesson plans or even virtual nature walks or story time could all be viable startup ideas.

2. Offer virtual team-building

Companies need new ways to boost morale and build camaraderie among remote and hybrid teams. Enter the virtual team-builder. Cheesemongers, mixologists, chefs, magicians, artists, historians, master gardeners — almost anyone can create and offer bonding experiences for virtual companies.

3. Start a meal-prep business

The U.S. market for meal kits is expected to grow 14.2% annually between 2023 and 2030, according to market analysis by Grand View Research [0] Grand View Research . Meal Kit Delivery Services Market Size, Share & Trends Analysis Report By Offering (Heat & Eat, Cook & Eat), By Service (Single, Multiple), By Platform (Online, Offline), Meal Type (Vegan, Vegetarian), By Region, And Segment Forecasts, 2023 - 2030 . Accessed Feb 21, 2024. View all sources . Tap into that market and start a meal-prep service to make people’s lives easier and cater to specialized diets (keto, vegan, Whole30).

4. Create a food waste solution

Creating a startup focused on reducing food waste could not only earn you some serious funding, but also positively change the food system and help save grocery stores and restaurants money.

5. Capitalize on plant-based foods

The U.S. plant-based market was worth $8 billion in 2022, with sales of plant-based foods projected to climb 44% over three years, according to the most recent annual report from the Good Food Institute [0] Good Food Institute . U.S. retail market insights for the plant-based industry . Accessed Feb 21, 2024. View all sources . Creating a vegan supermarket or making meat-free versions of traditional foods could be the ticket to success for aspiring entrepreneurs.

6. Start a dropshipping business

The e-commerce business model of dropshipping is especially attractive because it doesn’t require you to purchase inventory upfront. Selling higher-end products with low shipping costs could become profitable quickly if you do thorough competition research.

» MORE: 25 low-cost business ideas

7. Curate subscription boxes

Subscription boxes were a $32.9 billion business globally in 2023 (up from $22.7 billion in 2021), and the industry is still set to grow, according to a market research report by the International Market Analysis Research and Consulting Group [0] International Market Analysis Research and Consulting Group . Subscription Box Market Report by Type (Replenishment Subscription, Curation Subscription, Access Subscription), Gender (Male, Female), Application (Clothing and Fashion, Beauty, Food and Beverages, Pet Food, Baby Products, Health and Fitness, and Others), and Region 2024-2032 . Accessed Feb 21, 2024. View all sources . Pick a niche, and then curate a collection of specialized goods to deliver unique experiences to consumers. Some subscription boxes focus on a mix of products, like makeup or dog toys; others focus on a single item or theme, like shaving or sustainability. Find the right starting point for you and run with it.

Ready to get started? Here's what to do next

Open a business bank account.

Start keeping the books.

Build your website.

Protect yourself from liability.

8. Create an airport-centric app

Creating an all-in-one app that allows travelers tonavigate unfamiliar airports with real-time information is a relatively untapped startup idea. Though various travel applications exist, an app that shows amenities, TSA line wait times, ground transportation options and airport maps could be useful to passengers.

9. Become a destination wedding planner

Planning a wedding is stressful; planning a wedding from afar could fray any couple’s nerves. That creates a niche for a destination wedding planner who can advise on venue and vendor selections, as well as manage wedding and travel logistics for the bridal party and guests. If you love exploring, have expertise in a popular wedding locale and are great under pressure, this could be the startup idea for you.

10. Make local guides

Even if you don’t consider yourself a local expert, creating local guides can get you familiar with your surroundings and help tourists enjoy off-the-beaten-path experiences in your area. Make themed guides, highlight attractions and partner with local businesses for advertising opportunities.

» MORE: 25 side business ideas

11. Create a local grocery delivery service

A grocery delivery startup can come with minimal setup costs — you only need a vehicle and a cell phone to get started. Help older people or others who are too busy to shop by offering this community-friendly service. You can even approach grocery stores in your area to see if they're willing to partner with you to get the service off the ground.

12. Start a virtual event planning company

Virtual event planning is a new booming business as in-person gatherings go online or take a hybrid approach. A skilled planner who can ensure all attendees are engaged, regardless of location, will be in high demand for years to come.

» MORE: Best business credit cards for LLCs

13. Sell zero-waste products

Starting a zero-waste company is more than just a trendy thing to do; it can be an ethical, environmentally conscious decision. Selling sustainable products such as reusable bags, bamboo toothbrushes or products with zero-waste packaging could appeal to a growing number of sustainability-focused consumers.

14. Make products for pets

Create innovative pet products to take advantage of the fact that 66% of U.S. households (about 86.9 million households) have at least one animal companion, according to the annual pet ownership survey by the American Pet Products Association [0] American Pet Products Association . Industry Trends and Stats . View all sources . Developing toys, accessories or clothing for furry friends can help you tap into that expansive market. You can also go the service route and offer pet sitting, walking or virtual dog training. Or develop an app or tech solution that makes pet parents’ lives easier.

15. Create custom clothing

Selling custom clothing or offering a tailoring service could be your winning startup idea. The custom clothing industry is gaining popularity and offers room for long-term growth.

» MORE: How to open an Etsy shop

16. Sell vintage clothing online

Demand for sustainable fashion has helped propel second-hand clothing into a $39 billion industry in the U.S. with projections to hit $70 billion by 2027, according to an annual resale report by online consignment company ThredUp [0] ThredUp . ThredUp Resale Report 2023 . View all sources . Consider selling thrifted, vintage or upcycled clothing on social media, an ecommerce platform or an app such as ThredUp or Poshmark.

17. Begin niche blogging

Find a niche (think e-sports or urban farming) and create engaging content around it. You can earn money through advertising, affiliate links and even product sales once you build an audience.

How much do you need?

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We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

18. Become an e-book writer

If you’ve got a way with words, consider becoming a self-published author and selling e-books on virtual platforms.

» MORE: 14 profitable e-commerce business ideas

19. Start ghostwriting

Create content for busy professionals who don’t have the time or the skill to write themselves. If you don’t mind not attaching your name to your writing, ghostwriting is a great way to earn money with little to no startup costs attached.

20. Become a resume writer

Everyone needs a resume, but few people are skilled at or enjoy writing their own. If you’ve got writing experience and are looking to launch a startup with no setup costs, creating a resume-writing service could be the path for you.

21. Open a coworking space

Capitalize on the rising popularity of remote work by creating a modern coworking space that addresses pain points of entrepreneurs. Pick a convenient location and build it out with highly sought-after amenities.

» MORE: 35 businesses that every community needs

22. Become an online coach

If you enjoy helping others achieve their goals and are a people person, this startup idea could be fulfilling for yourself and for your clientele. You can provide wellness, business or life coaching.

23. Flip failing websites

Buy an existing website, make improvements on it and sell it for a profit. You’ll need to understand the market well and have some web development skills, but this can be a profitable pursuit.

24. Become a web developer

The need for custom websites isn’t ever going away, and if you know your way around WordPress or know a programming language or two, you can start a profitable website development startup.

25. Start a podcast

If you’re deeply knowledgeable or passionate about a subject, consider getting into podcast production or hosting. Building an audience takes time, but once established, podcasters can earn money through affiliate marketing, donations and sponsorships.

26. Be a social media influencer

Once you find a niche and build a personal brand, amassing a large following on Instagram or YouTube can lead to a solid source of income through influencer marketing.

» MORE: 30 Instagram business ideas

27. Create online courses

Obscure hobbies can lead to lucrative business ideas if you make them easy for others to learn. If you’d like to teach others but aren’t interested in the coaching route, creating an online course could lead to reliable passive income.

28. Become a marketing consultant

If you’ve got digital marketing chops, help small businesses reach their target audiences by providing SEO, social media or copywriting services.

29. Develop an app

If you’ve got a unique idea and the necessary technical skills, creating an app could be your gold mine. It’s also possible to build an app without extensive coding skills, and once it launches, it can bring in passive earnings.

» MORE: 25 tech business ideas

30. Make a smart appliance

Smart accessories and home appliances are all the rage and becoming an important part of daily life for the average consumer. For inspiration, take note of daily tasks at home or at work that would be easier with a smart appliance.

31. Tap into virtual reality experiences

VR is the future, and the future is now. Create virtual reality experiences or accessories to tap into a global industry that’s projected to grow to a $165.91 billion market by 2030, according to a report by Fortune Business Insights [0] Fortune Business Insights . The global virtual reality market size was valued at $19.44 billion in 2022 & is projected to grow from $25.11 billion in 2023 to $165.91 billion by 2030... Read More at:- https://www.fortunebusinessinsights.com/industry-reports/virtual-reality-market-101378 . View all sources , a market research firm.

32. Make a niche dating site

The stigma around online dating has decreased over the past decade, so take the opportunity to help others find love. With various dating sites targeted to everyone from sea captains to farmers, there is market demand for specialty dating options.

33. Develop a chatbot

Create a chatbot — which uses artificial intelligence to communicate with people — to help businesses improve their communication. Chatbots have become more popular in recent years, and you can create one without knowing how to code.

34. Offer matchmaking skills

This is like creating a dating site but with a personal touch. If you have a knack for knowing what types of people and which personalities get along well, you might be the perfect person to start matchmaking. You can do this online or meet clients in person as well.

35. Be a virtual assistant

Being an online assistant for someone, or starting a company of virtual assistants, can be a huge success. Everyone could use a little extra help, and creating a startup focused around getting people that help for the administrative tasks in their lives, professional or personal, can be a huge moneymaker.

» MORE: Home-business ideas: 40 remote jobs to explore

36. Reinvent exercising

If there's one thing people get bored with, it's doing the same type of exercise day in and day out to stay healthy. Plenty of people have turned the exercise industry on its head, with businesses like CrossFit and Peloton popping up. You can do the same if you have an idea for a new regimen or activity for exercise enthusiasts.

37. Create eco-friendly, health-friendly makeup and beauty products

As people become more aware of the impact their personal choices have on their health and on the environment, they're looking for more health and beauty products that are also eco-friendly. Creating safe and eco-friendly products could be a great startup idea.

38. Open a food truck or restaurant pop-up

Opening a food truck or restaurant pop-up is a great startup idea for entrepreneurs with a knack for cooking. Both options are easier to launch than a full-scale restaurant and allow you to get started with a smaller staff and menu. You can open a food truck that only sells french fries with crazy toppings, for example, or launch a breakfast sandwich pop-up in your neighborhood coffee shop.

» MORE: Best food truck loan options

39. Start an organization business

Shows like "Tidying Up With Marie Kondo" and "The Home Edit" put professional organizing on the map, exposing millions to the magic of a tidy home. If you have a knack for making order out of chaotic spaces, you could start a business offering those services to those who need them. Organizing kitchen pantries, closets, bookshelves and more are all options you could offer customers at your new business.

40. Do interior design for young professionals

Have an eye for decorating? Start an interior design business, offering your services at an hourly rate virtually to young professionals looking for inspiration. It can be as simple as them uploading some images of their new space to your site and you sending back a few links with furniture in their budget and example images of what the room might look like when it's finished.

LLC Formation

How to choose a startup idea

Do your homework before diving headfirst into a startup idea. First, make sure there's demand for the business you want to start, where you want to start it. More than 35% of businesses fail because there isn't a market need for their services or product, according to research from CB Insights [0] CB Insights . The Top 12 Reasons Startups Fail . View all sources .

You also need to write a business plan , which should include your company’s objective, sales plan, market analysis and financial projections. A good business plan can help to keep your business on track. Lenders will also want to see your business plan when considering you for a startup business loan . You should also consider the skills you already have and see how those align with any of the startup business ideas you might go with.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

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8 Unique Business Ideas to Set Yourself Apart

Let’s face it: trying to stand out or be different isn’t something you’d prioritize as a first-time entrepreneur. After all, society has taught you to play it safe and blend in until you gain enough experience to innovate.

But with the global economy becoming more and more competitive, it’s crucial to find ways to set yourself apart from other companies from Day 1 of your entrepreneurial career. In that context, nothing beats the edge you gain by adopting a unique business idea.

Unique businesses tend to have less competition, but the competition they do have ensures there’s a demand for the product. It’s important to differentiate yourself, but the success of your venture depends less on what your business idea is and more on how you execute that idea.

If you’re looking for a unique business idea, here’s a few to get you started:

8 unique business ideas to try in 2022

1. become a personal shopper and promote your services on tiktok.

Did you know that TikTok is a fast-growing source of revenue for ecommerce businesses? That’s right— a lot of TikTok users are buying products directly on the video-sharing app rather than shopping from brands’ websites. But not all users have the time to make shopping choices⁠—and that’s where you can build a business by providing personal shopping services.

Personal shopping is where you purchase items on behalf of another person —in this case, a TikTok user. You’ll need to demonstrate skills in finding the best buys on TikTok, so it helps to learn how to research products on the app. Additionally, you’ll need to know how to use the app’s ecommerce features to make a direct purchase. It can be a good idea to offer your service to friends who use TikTok, so you can gain some experience and get a testimonial or two to share with future clients.

Once you’re fully comfortable doing product research and shopping for items on TikTok, you can promote your services via word of mouth , social media, and offline marketing.

unique business idea exampe: TikTok consultant

2. Launch your own novelty t-shirt brand

If you’re a creative person and you can reflect people’s passions via art, you can get a slice of the $3.91 billion market that is custom t-shirts. People use t-shirts to express themselves: their identities, values, interests, or sometimes just the influencers they like.

You might not think of t-shirts themselves as unique, but the reason the business seems so viable is because the niching opportunities are endless. Whether they feature stunning artwork, intricate designs, catchy jokes, or LGBTQ slogans ⁠—no other brand will be selling your designs.

To get started, find yourself a good print-on-demand company and set up a storefront on Shopify . Then come up with original designs, add them to your shirts, and get paid when someone orders from your business.

3. Launch a podcast and build multiple income streams

Podcasts may be free to download, but the people making them don’t always work for free. Through affiliate programs, tiered Patreon subscriptions, and online live events, any podcaster can start making an income from their content.

Podcasting begins with a topic you’re passionate about—a book, a hobby, or an educational topic. Then, with people who love discussing those topics, you can put together a weekly podcast in which you inform and explore.

You’ll need recording gear and a little knowledge of audio editing to create podcast episodes. Set yourself up a weekly recording session and get your voice out there to build an audience. With time, you can start using different monetization strategies to generate revenue from your podcast.

4. Offer virtual assistance to other businesses

With so many companies shifting their focus to online operations, the demand for virtual assistants is growing. These individuals are contracted workers who can handle a wide range of tasks, from bookkeeping to email marketing to personal tasks like managing schedules or arranging trips. You could assist virtually as a full-time business or a side job.

Since business owners can hire virtual assistants from anywhere in the world, this business doesn’t restrict you to a specific location. To set yourself apart from the competition, become skilled at handling specific tasks that businesses struggle to find talent for, like optimizing sales funnels or building post-purchase email campaigns .

5. Start a gifts and flower delivery business

Everyone loves that feeling of receiving a thoughtful gift basket or flowers from people who care. Why not try your hand at being the one who gives people that feeling? Requiring only an initial investment and a little creativity, you can quickly build a venture that you can manage from the comfort of your own home .

Using social media sites such as Facebook or Instagram, investigate what gifts are popular in your area, then design a set of packages for potential customers. Or base your ideas on popular themes like:

Celebration gifts: birthdays, Mother’s Day, Father’s Days, marriages, or new babies
Household baskets: cleaning, car, or gardening products; cheese, chocolate, or beer or wine selections
Personal care: spa/beauty products
Hobbies: coffee or tea baskets, games, films, or seasonal products

You can gradually spread out to other areas after beginning with a focus on local delivery.

6. Offer mobile detailing services in your area

Ever heard of mobile detailing? It’s the act of thoroughly cleaning and restoring a vehicle directly in the premises of its owner. This eliminates the need for a physical business location, reducing the initial startup and overhead costs.

You can start your own mobile detailing business with relatively low investment—most detailing kits cost less than $100. Most of your customers will come from gated communities, suburbs, and areas where people keep more than one vehicle.

Get the word out that you’re offering auto detailing services by distributing flyers in your target market. Offer gift cards and discounts to first-time customers to generate repeat business. Also consider making a Google Business Profile and sending customers its link so they can leave a review about your service. Positive reviews can influence other people’s perception of your service in a good way, bringing more clientele without any ad and marketing spend.

7. Create and sell travel guides

Travelers love exploring their holiday destinations, and who better to show them around than a local? Whether looking for cinemas, restaurants, events, or just the best historical sites⁠, people who reside in a travel destination often have first-hand knowledge of the places to visit there.

You can compile your knowledge of your local area into a travel guide that serves as a handy resource for tourists. But don’t limit your revenue stream to one product—you could sell books, maps, audio walking tours, and even augmented reality tours to grow your business income.

The best part is that you don’t have to live in a big city like London or Paris to create guides for travelers. Often, smaller tourist destinations provide greater opportunities, since fewer tourist resources are available.

And you don’t have to niche by just your location either. You might make travel guides or maps for a specific group of hobbyists. For example, Skater Maps offers skate park maps for skateboarders and BMX riders, detailing the best routes through Australia.

8. Open a tea room and sell products to patrons

If you love tea and can judge its quality even before tasting it, a tea room business may be a good fit for you. This business doesn't require the crowds that flock to Starbucks, but you’ll still need a unique menu to draw patrons from your neighborhood and beyond. To get some inspiration, check out these tea menu templates available online.

Choosing the right location is also highly important. Tea consumers often have a spontaneous desire to drink the aromatic beverage, so your shop needs to be where people spend time, such as near shopping malls, local attractions, and fuel stations.

Once you’re set up, you can look into expanding your menu beyond just tea. For example, you can offer sandwiches, biscuits, and cakes to complement your beverages. You can even look into making and selling your own merch , much as shops like Starbucks do. Customers who love your shop will undoubtedly enjoy the chance to sport their own shirts, travel mugs, and tote bags featuring your logo and branding.

Jump-start your entrepreneurial career with a unique business idea

Starting a new business is exciting and daunting in equal measure. You’ll need to come up with an idea, but also execute it differently to ensure you stand out from the competition.

Try not to get bogged down in coming up with something no other company has touched. Rather, think about how you can create a more memorable experience with an existing idea in your audience’s minds.

With a bit of effort and creativity, you can build a highly successful and valuable business.

Unique business ideas FAQ

What are some unique business ideas.

The best business ideas either cater to a niche, underserved market or offer a new spin on an existing product or service. To get some inspiration, check out our list of unique businesses above.

How do you come up with a unique business idea?

To come up with a unique business idea, think about successful companies you find inspiring. What is it about their product or service that makes them stand out? How do they approach other aspects of business, like marketing and customer service? Often, analyzing the strengths and weaknesses of other businesses can spark an idea for your own successful small business.

How can you make business ideas profitable?

There’s no blueprint for making a business profitable, but if you’re providing a unique service, it helps to promote your brand through email and social media marketing, as well as to have multiple revenue streams to draw from.

Want to learn more?

How to Make Money Online for Free: 11 Best Ways in 2022
10 Business Tips for New Entrepreneurs in 2022
How You Can Use Holiday Shopping to Generate Sales
Idea Validation: 13 Best Ways to Validate Your Business Idea

Small Business Trends

30 unique business ideas.

What Makes a Unique Business Idea?

Starting your own business in 2022.

Successful businesses in 2022 have to find a way to stand out from the competition. Today’s consumers are price-conscious but still want easy solutions. For example, taking a traditional business model and shifting it to a mobile business may appeal to modern consumers.

Our Methodology for Choosing Unique Business Ideas that Can Set Small Business Owners Apart

Top unique small business ideas, 1. dog walking business.

Dog walking is a great business idea for those who love animals. You can enjoy an easy time outside while still holding onto a day job or working on another business.

2. Food Truck Business

3. online course creator, 4. virtual personal training business.

Personal training businesses are often done in person. However, you can now use video chatting programs to work with clients online.

5. Pop-up Retail Stores

6. alternative wellness spa, 7. niche cleaning business, 8. social media photographer.

Social media influencers have broken into nearly every industry. And they need quality photos to reach their audience. Photographers can specialize in serving these influencers in a unique way to use their talents.

9. Mobile Coffee Shop

10. luxury landscaping business, 11. novelty recreational facility, 12. virtual interior designer.

Instead of working with design clients in person, collect photos of their space and create mock-ups so they can transform rooms on their own.

13. Niche Ecommerce Site

14. retreat center, 15. drone photographer, more unusual business ideas to create successful business owners, 16. pet influencer business, 17. virtual stylist service, 18. cat cafe.

The idea of a cat cafe can actually translate to any pet-friendly food establishment. You may start a restaurant or bar that welcomes dogs, for instance.

19. Party Entertainer

20. vacation rental management, 21. freelance personal assistant, 22. 3d print prototyping, 23. pet portrait service, 24. niche pest control service, 25. toy repair company, 26. workplace wellness consultant, 27. healthy vending machine sales, 28. holiday rental business.

Some people may prefer not to buy tons of holiday decor just to store it all year. So invest in your own and let people rent it instead.

29. Wedding Officiant

30. mobile advertising provider, what is the most unique business in the world, what unique businesses can you start with nothing.

Launching and growing a unique business idea is an exciting journey, but it’s not without its challenges. Staying resilient in the face of obstacles is crucial for long-term success. Here are some key points to consider:

Challenge	Description	Impact	Mitigation Strategies
Market Fluctuations	Economic conditions can lead to shifts in consumer spending and demand. Prepare for potential revenue fluctuations by diversifying your customer base and creating financial reserves.	Revenue volatility, potential losses	- Diversify customer base - Maintain financial reserves - Plan for different economic scenarios
Competition	As your unique idea gains attention, competitors may emerge. Continuously innovate and enhance your product or service to maintain a competitive edge in the market.	Reduced market share, pricing pressure	- Regularly innovate and update offerings - Focus on unique value proposition - Build strong brand identity
Scaling	Rapid growth can strain resources and operational processes. Plan for scalability by investing in infrastructure, optimizing processes, and building a capable team.	Operational inefficiencies, customer dissatisfaction	- Invest in scalable infrastructure - Streamline operational processes - Hire and train a skilled team
Financial Management	Unique ideas might require unconventional funding approaches. Monitor cash flow closely, explore alternative funding options, and maintain a thorough understanding of your financial situation.	Cash flow problems, inability to fund growth	- Monitor cash flow and budget meticulously - Consider alternative funding sources - Stay informed about financial health
Marketing Challenges	Effectively conveying your uniqueness to potential customers can be a hurdle. Develop a clear brand identity, employ targeted marketing strategies, and use compelling messaging to highlight what sets you apart.	Lack of customer awareness, limited reach	- Create a strong brand identity - Use targeted marketing tactics - Craft clear and compelling messaging

Expanding into International Markets

Advancements in technology and communication have made it easier to connect with potential customers worldwide. Online platforms and social media enable businesses to showcase their unique offerings to a global audience, often at a fraction of the cost compared to traditional marketing methods.

In the ever-evolving landscape of business, finding and nurturing a unique idea is the foundation upon which success is built. The ability to identify gaps in the market, create innovative solutions, and offer something distinct from the competition is what sets remarkable businesses apart. However, uniqueness alone is not enough. To thrive, businesses must adapt, evolve, and expand their horizons.

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How To Write A Business Plan (2024 Guide)

Updated: Apr 17, 2024, 11:59am

How To Write A Business Plan (2024 Guide)

Brainstorm an executive summary, create a company description, brainstorm your business goals, describe your services or products, conduct market research, create financial plans, bottom line, frequently asked questions.

Every business starts with a vision, which is distilled and communicated through a business plan. In addition to your high-level hopes and dreams, a strong business plan outlines short-term and long-term goals, budget and whatever else you might need to get started. In this guide, we’ll walk you through how to write a business plan that you can stick to and help guide your operations as you get started.

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Drafting the Summary

An executive summary is an extremely important first step in your business. You have to be able to put the basic facts of your business in an elevator pitch-style sentence to grab investors’ attention and keep their interest. This should communicate your business’s name, what the products or services you’re selling are and what marketplace you’re entering.

Ask for Help

When drafting the executive summary, you should have a few different options. Enlist a few thought partners to review your executive summary possibilities to determine which one is best.

After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you’ll need to include your business’s registered name , your business address and any key employees involved in the business.

The business description should also include the structure of your business, such as sole proprietorship , limited liability company (LLC) , partnership or corporation. This is the time to specify how much of an ownership stake everyone has in the company. Finally, include a section that outlines the history of the company and how it has evolved over time.

Wherever you are on the business journey, you return to your goals and assess where you are in meeting your in-progress targets and setting new goals to work toward.

Numbers-based Goals

Goals can cover a variety of sections of your business. Financial and profit goals are a given for when you’re establishing your business, but there are other goals to take into account as well with regard to brand awareness and growth. For example, you might want to hit a certain number of followers across social channels or raise your engagement rates.

Another goal could be to attract new investors or find grants if you’re a nonprofit business. If you’re looking to grow, you’ll want to set revenue targets to make that happen as well.

Intangible Goals

Goals unrelated to traceable numbers are important as well. These can include seeing your business’s advertisement reach the general public or receiving a terrific client review. These goals are important for the direction you take your business and the direction you want it to go in the future.

The business plan should have a section that explains the services or products that you’re offering. This is the part where you can also describe how they fit in the current market or are providing something necessary or entirely new. If you have any patents or trademarks, this is where you can include those too.

If you have any visual aids, they should be included here as well. This would also be a good place to include pricing strategy and explain your materials.

This is the part of the business plan where you can explain your expertise and different approach in greater depth. Show how what you’re offering is vital to the market and fills an important gap.

You can also situate your business in your industry and compare it to other ones and how you have a competitive advantage in the marketplace.

Other than financial goals, you want to have a budget and set your planned weekly, monthly and annual spending. There are several different costs to consider, such as operational costs.

Business Operations Costs

Rent for your business is the first big cost to factor into your budget. If your business is remote, the cost that replaces rent will be the software that maintains your virtual operations.

Marketing and sales costs should be next on your list. Devoting money to making sure people know about your business is as important as making sure it functions.

Other Costs

Although you can’t anticipate disasters, there are likely to be unanticipated costs that come up at some point in your business’s existence. It’s important to factor these possible costs into your financial plans so you’re not caught totally unaware.

Business plans are important for businesses of all sizes so that you can define where your business is and where you want it to go. Growing your business requires a vision, and giving yourself a roadmap in the form of a business plan will set you up for success.

How do I write a simple business plan?

When you’re working on a business plan, make sure you have as much information as possible so that you can simplify it to the most relevant information. A simple business plan still needs all of the parts included in this article, but you can be very clear and direct.

What are some common mistakes in a business plan?

The most common mistakes in a business plan are common writing issues like grammar errors or misspellings. It’s important to be clear in your sentence structure and proofread your business plan before sending it to any investors or partners.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business, an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry.

27 Unique Digital Products To Sell in 2024 (Profitable Ideas)

Quick Summary ↪ This guide explores lucrative digital product ideas across various fields, such as writing, design, development, and business. Learn about digital product sales and the best platforms to maximize your earnings. This guide highlights the Digital Product Store Starter Template paired with Astra.

Are you on the lookout for the best digital products to sell in 2024?

For many, it’s a worthwhile venture.

Just look at what Think Media Podcast was able to accomplish. They made $546,586 just by selling a $27 digital product.

Selling digital products is a highly effective strategy to monetize your online presence.

It offers flexibility and the potential for high profit, especially when combined with other revenue streams like display ads and affiliate marketing.

In this article, we will explore:

Unique and profitable digital products: The goal is to provide you with innovative ideas that aren’t just different, but also have a strong market demand.
Pros and cons of selling digital products: As we create digital products ourselves, we are well aware of the ups and downs of the business. We’ll share the inside story.
The best platforms for selling them: We’ll give you a head start on what platform to use to sell your digital products.

First, let’s take a look at the digital products we’ll be discussing and evaluate them based on how hard they are to create and what their earning potential is.

Digital Products To Sell for Businesses

Top 10 digital products and their earning potential.


Moderately difficult	High	– Depends on the niche – on Udemy – on Thinkific
Variable	Good	– Popular on platforms like Amazon Kindle – Earning potential of
Easy	Good	– Includes calendars, planners, worksheets – Earnings depend on niche – $
Moderately difficult	High (Steady income)	– Offers exclusive content – Provides steady income once established – Average – Established sites earn .
Medium	High (Consistent demand)	– – Royalty-free sales between $0.10 and $99.50/month
Challenging	Very High	– Requires significant technical skills – Lucrative in niche markets – No guarantees of success
Moderately easy	Good	– Includes email templates, logos, business cards, and WordPress themes – Priced at
Medium	Promising	– Profit potential varies widely – Limited data available Most prompts sold .
Medium	Good	– Textures, clipart, presets, and icons – make $100,000+/year.
Medium	Strong (Especially for unique designs)	– Time-consuming – Requires skill – Strong demand for unique fonts – Sell for $9 to $129 each on Fontspring.

27 Digital Products To Sell

When it comes to digital products, the scope is massive and varied.

Each type of product offers unique opportunities for creators and entrepreneurs to monetize their expertise and passion.

In this section, we’re going to dive into specific digital product ideas, focusing on different personas to help you find the best fit for your skills and interests.

Here’s what we’ll be covering today:

Community access
Planners or journals
Tutorials or guides
Writing resources (grammar tools, spell-checkers)
Digital planners
Logo templates
Business card templates
Social media templates
Design assets
Design checklists or guides
Website templates or themes
WordPress plugins
Code snippets
How-to guides
Cheat sheets or checklists
Financial or expense trackers
Printable calendars
Membership sites
Subscription-based newsletters
Notion templates

Digital Products To Sell for Writers

Selling digital products for writers is a solid way to earn income online.

There are many types of products you can offer – whether you’re a writer yourself, aim to help writers, or both!

Ebooks are not just a fantastic way to share knowledge and expertise, they’re also a smart way to earn some decent passive income.

The beauty of an ebook is that it can continue to bring in cash without much extra effort.

This especially applies to non-fiction like guides or how-to’s. Once you’ve done the heavy lifting of writing it, it can continue to earn for you.

You can sell them in many different ways. For instance, you can sell them on your own online store or membership site. Or, you can offer them on an external site like Amazon Kindle Direct Publishing (KDP).

2. Online Courses

As a writer, creating and selling online courses can be a lucrative way to leverage your expertise.

The projected growth of the global eLearning market will reach over $370 billion by 2026 .

Creating online courses can be a profitable venture!

Whether you’re a fiction author, a blogger, a content writer, or a self-help guru, there’s potential to develop courses that resonate with your audience.

For fiction authors : Create courses on crafting compelling narratives, character development, or specific genre writing like mystery, sci-fi, or romance. You could include modules on plot structure, building suspense, or world-building.
For bloggers and content writers : Courses on effective blogging strategies, content marketing, SEO, and social media engagement would be highly valuable. You can share insights on creating engaging content, driving traffic, and monetizing blogs.
For educational writers : If your focus is on educational content, consider creating courses on specific subjects you’re knowledgeable about. This could range from history to science, language arts, or even professional skills like public speaking or writing.
For business owners : You might consider creating courses that focus on your unique business insights and expertise. This could include things like developing successful business strategies, effective management and leadership skills, financial planning and budgeting, or niche-specific topics like industry trends.

A great example comes from SkillJet . It offers an in-depth course library covering topics like how to speed up a website and how to build recurring revenue.

Creating a course is a great way for a writer with some business knowledge to tap into that market.

When creating your course, focus on delivering quality content that’s engaging, informative, and provides real value.

Use a mix of video lectures , written materials, and interactive elements like quizzes or assignments.

3. Community Access

Creating and selling community access as a digital product can be a rewarding option.

Online communities provide a platform for sharing ideas, receiving feedback, and building connections.

Here are some insights into how successful online communities operate:

Pick a Single Focus Area

Communities like Author Ever After offer a way for people to connect over a topic they’re passionate about with a specific focus – in this case learning how to become a published romance author.

Those interested can sign up for a fee and gain access to a community, mentoring, and other perks.

Critique and Feedback Platforms

Communities like Critique Circle offer structured environments where writers can receive constructive feedback on their manuscripts from fellow writers.

This model can be helpful for those looking to improve their skills and manuscripts before publication.

When considering setting up an online community as a digital product, focus on identifying the unique needs of your target audience and how you can provide value through your platform.

Offering a mix of educational content, networking opportunities, and personalized support can make your community more appealing.

4. Planners or Journals

For those looking to create and sell digital planners or journals, there’s a variety of approaches to consider.

Business and productivity planners : Designed for entrepreneurs, business professionals, or anyone looking to boost their productivity. They might include sections for goal setting, financial tracking, project management, or meeting agendas. Think of planners that help track business growth, manage client projects, or even organize daily tasks.
Marketing and content planners : Ideal for digital marketers, content creators, or social media managers. Planners can focus on strategy planning, content scheduling, campaign tracking, and analytics review.
Financial planners : Aimed at individuals or professionals managing finances, these could include budget planners, expense trackers, investment logs, or savings goals.
Educational and student planners : Can be tailored for students or educators. Can include sections for lesson plans, assignment tracking, study schedules, or academic goal setting.
Health and wellness journals : Focused on personal well-being. Journals can include meal planners, workout logs, mental health trackers, or meditation and mindfulness prompts.
Household and chore charts : Great for organizing household tasks. Planners can include chore schedules, meal planning, shopping lists, or maintenance logs. They’re helpful for anyone looking to streamline household management.
Hobby or Interest-specific journals : Whether it’s gardening, cooking, or DIY projects, these journals can be tailored to specific hobbies or interests. They might include project logs, recipe collections, or tips and techniques related to the hobby.
Travel planners : For those bitten by the travel bug, these planners can include itineraries, packing lists, budget trackers, or travel journals. They’re perfect for planning trips, whether for business or leisure. They might even serve well as a lead generation item for travel blogs .
Personal development journals : Can include goal-setting guides, self-reflection prompts, habit trackers, or gratitude logs.

You can find countless examples of planners on Etsy because the revenue potential is pretty high.

Take the Etsy shop, Prosperous Printables as an example:

This store has made 44,189 sales since 2019, with items averaging around $5/each.

That’s around $45,000 per year, with much of this income being passive once the initial planner is created.

5. Tutorials and Guides

Creating tutorials or guides offers a valuable avenue to share your expertise.

If you’re well versed in a specific subject, you can craft guides offering insights and strategies unique to those topics and put your writing skills to work.

For writers skilled in technical, business, or academic writing, producing guides can be highly beneficial.

Consider developing process-focused tutorials that offer step-by-step instruction on a complex subject. Or illustrated guides that could be offered as downloadables.

Even one or two-page guides sold for $1 on your own website could be a great way to develop a passive side income.

6. Writing Resources

Offering writing resources such as grammar tools and spell checkers can be a valuable service for other writers.

For instance, you could create grammar and style checkers.

These tools focus on improving writing quality by checking and correcting grammar, punctuation, and style.

Think Grammarly and you’re on the right track.

There’s a broad market for this type of product. It ranges from students to professionals, all needing to improve their writing.

Or, you could create reference tools.

Compile and offer comprehensive guides or databases on specific writing topics. Think idiomatic expressions, synonyms and antonyms, or industry-specific terminology.

All things the average person can have difficulty with.

Templates are a big hit, too.

Provide templates for different writing projects, like press releases, blog posts, or screenplays, to help writers get started and structure their work.

7. SEO Tools

SEO tools are designed to boost a website’s ranking in search engines. They provide insights into keyword effectiveness, backlink analysis, and website performance.

As a writer, you understand the importance of keywords and how they shape content. This understanding is invaluable when creating SEO tools.

Your role in this space would be multifaceted. You could develop user-friendly guides and tutorials explaining how to use them.

Or, you might team up with developers to create your own tool from scratch.

There are several out there already but you could potentially find an angle that or approach that brings something fresh to the space.

Popular examples include Semrush , Ahrefs , and Moz .

8. AI Prompts

Let’s talk about AI prompts. It’s a niche that’s suited for writers with a flair for creativity and a grasp of how language works.

AI prompts are inputs used to guide AI in content creation or response generation. Here, your writing skills can be used to craft prompts that get the AI to make the desired output.

A well-written prompt can make all the difference and is actually pretty difficult to write.

If you can use your skills to create nuanced prompts that can direct AI to produce desired outcomes, that’s something you could monetize.

You could create and sell packages of prompts for different applications, such as storytelling, content writing, or customer service chatbots.

There’s a burgeoning market worth exploring here. For instance, PromptBase is an AI prompt marketplace where people can create and sell prompts.

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Digital Products To Sell for Designers

For designers looking to venture into the eCommerce market, there’s a unique opportunity to create and sell digital products.

After all, you have the design skills to put to work here.

9. Digital Planners

This approach taps into the growing demand for organizational tools in the digital space. They can cater not just to fellow designers, but also to business owners and other professionals.

We’ve already discussed these in-depth above but it’s worth mentioning that designers can leverage their skills to create these as well.

The beauty of digital planners lies in their versatility and appeal to a wide audience.

For instance, a planner designed for other designers might include elements like color palettes, font libraries, and space for sketching out ideas.

On the other hand, a planner for business owners might focus on financial tracking, project milestones, and meeting schedules.

You can find countless examples of planners being sold in this manner on Etsy. Take this Watercolor Digital Planner as an example:

It’s undated and can easily be printed for use or can be customized with a graphics tool like Canva.

10. Logo Templates

Selling logo templates is a smart move for designers looking to tap into a profitable niche.

It’s a straightforward concept: create a range of customizable logo templates that cater to different business needs.

Think about the variety of businesses out there. From sleek tech startups needing something modern and minimalistic, to artisan cafés looking for something more quirky and vintage.

Your templates can be that go-to resource for these varied needs.

Platforms like Envato Market are perfect examples of where designers can showcase and sell their logo templates.

On Envato, you’ll find a huge audience of business owners and entrepreneurs browsing for that perfect, yet affordable, branding element.

The trick is to make your templates easy to tweak, so someone with minimal design experience can make them their own.

11. Business Card Templates

Selling business card templates is another digital product possibility for designers to explore.

This digital product caters to professionals and businesses of all sizes looking for easy-to-customize, yet professional-looking business card designs.

Many people are earning a living by selling business card templates that customers can modify on their own using drag-and-drop software .

12. Social Media Templates

Another option is to create a diverse range of templates tailored for various social media platforms, like Instagram , Facebook , X, and LinkedIn.

The designs could include post layouts, story backgrounds, cover photos, and profile images.

The goal is to craft templates that are visually appealing and user-friendly, allowing clients to easily customize them with their content.

You will need to stay updated with trends in social media design and understand the specific requirements of each platform though.

They all have different sizing specs you’ll need to know.

Take Luna Studio as an example. This designer offers fine art prints on their personal website but also sells social media graphics and graphics bundles on Creative Market :

If you decide to take this approach, you’ll need to provide a mix of modern, flexible, and easy-to-edit templates.

Over time, this can position you as someone who meets the demand for high-quality, ready-to-use social media graphics.

13. Design Assets

Design assets include a wide range of products like icons, textures, and illustrations.

When creating design assets, consider what could be in high demand.

For example, unique icon collections can be a hit, especially if they cater to specific branding styles or trends.

Similarly, custom illustrations can be sought after by app developers or website designers looking for that unique touch.

Myicons offers a great example of someone selling digital assets. They provide a bulk deal of over 15,000 icons, which makes it stand out in an otherwise crowded marketplace.

Selling fonts is an excellent niche for designers. Unique and expressive typography is highly sought after right now.

Since fonts play a key role in branding, web design, and digital content creation, they’re an equally valuable digital product to sell.

When creating fonts, think about the diverse ways they may be used.

From corporate branding needing sleek and professional typefaces, to creative projects looking for more whimsical or artistic fonts.

The key is to design fonts that are not only visually appealing but also functional across different mediums, such as web, print, and mobile.

Platforms like MyFonts and Fontspring are ideal for selling your font creations.

They cater to a wide audience, from graphic designers and marketing professionals to independent creators.

These platforms also offer the necessary exposure and credibility that can help your fonts reach a broader customer base.

15. Design Checklists or Guides

Checklists or guides can be a great choice for designers at all levels to sell.

They can provide structured advice, best practices, and step-by-step processes for various design projects – or any topic, really.

If targeting fellow designers with your products, consider the different challenges designers face, from brainstorming and conceptualizing to executing and finalizing a project.

Your content could range from basic design principles for beginners to more advanced techniques for experienced designers.

Topics might include UI/UX design checklists, website launch checklists , brand identity guidelines, or tips on color theory and typography.

Platforms like Gumroad or Etsy are great for selling these types of digital products.

A great example is this design guide, Beyond UX Design .

Digital Products To Sell for Developers

Developers looking to dive into the digital product market, have some exciting possibilities to explore.

16. Website Templates or Themes

Think about the countless individuals and businesses out there needing a slick website without the high cost of custom design.

You could create website templates or themes that are not just good-looking, but also user-friendly and adaptable.

Whether it’s for WordPress, Shopify , or Squarespace , your templates could be the go-to solution for anyone from bloggers to online store owners.

Not to brag, but we offer a firsthand example of how successful this digital product type can be:

The Astra WordPress theme has been downloaded over 2 million times so we know what we’re talking about!

17. WordPress Plugins

There’s a huge demand for WordPress plugins that solve specific problems or add new features to websites.

You could develop a plugin that boosts a site’s SEO, makes social media sharing a breeze, or ramps up website security.

SureCart offers a great example of how you can sell a plugin on your own website and be wildly successful.

Once you’ve created a plugin, you can sell it on marketplaces like CodeCanyon or on your own website.

18. Niche Apps

Got an idea for an app that targets a specific interest or need? This could be a gold mine!

Niche apps – think along the lines of a unique fitness tracker, a specialized recipe app, or a project management tool – can really resonate with a specific audience.

The key here is to find a need that’s not being met by current apps and fill that gap with your creation.

For example, the C25K 5K Run Trainer & Coach app, that helps people improve their running abilities. While the app is free, it offers in-app purchases.

Moreover, in sectors like construction, transportation, or field services, where employees frequently switch job locations, a time clock app with GPS is indispensable. For instance, Buddy Punch provides GPS and Geofencing features, enabling precise clock-in and clock-out zones to be set up. These functionalities eliminate the need for manual location tracking by employees, as the app automatically detects their entry and exit from designated areas. Consequently, both businesses and administrators benefit from receiving accurate data regarding the job sites where staff worked each day.

If you want to sell software on your own website, how you offer it matters a lot.

According to entrepreneur Mohamed Issa on Quora , “…the subscription model offers better revenue potential than licensing,” noting that “[i]f you sell licenses, you get paid just once,” which is definitely something worth considering.

19. Code Snippets

For developers who want to help others streamline their code, selling code snippets is a brilliant idea.

Whether it’s a neat CSS styling shortcut, a handy JavaScript function , or a mini-library for common coding tasks, your snippets could save fellow developers loads of time and hassle.

Business owners can also take advantage of the digital product market.

There are tons of opportunities to create and sell tools that can enhance productivity, organization, and knowledge in various industries.

20. Podcasts

Starting a podcast can be a game-changer for businesses looking to establish thought leadership and connect with their audience on a more personal level.

Businesses can delve into topics relevant to their industry, interview experts, or share insights that can help listeners grow professionally.

The trick here is to provide value through engaging and informative content that appeals to your target audience.

For instance, Intercom started its own podcast called Inside Intercom where they interview all sorts of experts on business topics.

21. How-to Guides

Businesses can create and sell comprehensive how-to guides on specific topics related to their industry.

These guides can be invaluable resources, offering step-by-step instructions, best practices, and expert tips.

For example, a digital marketing firm could sell guides on executing successful social media campaigns or SEO strategies .

HubSpot offers a great selection of guides and tutorials. They offer them for free but use them as a part of their lead generation strategy.

22. Cheat Sheets or Checklists

Cheat sheets or checklists are simple yet effective digital products for businesses.

They can offer quick references on various topics, like project management steps, sales strategies, or daily operational checklists.

They are great for helping other professionals streamline processes and ensure they’re covering all necessary steps.

You can find tons of examples online, like this business startup checklist :

23. Financial or Expense Trackers

Financial or expense trackers are practical tools for small businesses and freelancers. These can be spreadsheets or apps designed to help track income, expenses, and budgeting.

Tailoring these trackers to specific business needs or industries can make them highly appealing and useful.

For instance, you could create a finance tracker like this one on Gumroad:

24. Printable Calendars

Printable calendars, customized for specific business needs, can be a simple but effective product, too.

These offerings can range from editorial calendars for content planning to project timelines, offering a visual tool for planning and organization.

25. Membership Sites

Creating a membership site can be a lucrative model for businesses. You can offer exclusive content, resources, or services, like specialized training, webinars, or industry reports.

The key is to provide enough value that customers feel the subscription is a worthwhile investment.

But if you have the content to back it up, building a membership site is a great idea.

Should you decide to build on WordPress, you can easily use the SureMembers plugin to streamline your efforts.

26. Subscription-based Newsletters

Launching a subscription-based newsletter allows businesses to regularly share industry insights, trends, and tips directly to their audience’s inbox.

This can be a powerful tool for building and maintaining customer relationships and establishing authority in your field.

A popular way people monetize their newsletters is through Substack . There are countless successful examples of this, but here’s one with current posts, Changing the Channel :

27. Notion Templates

With the rising popularity of Notion as an organizational tool, businesses can create and sell custom Notion templates.

These templates can be designed for various business functions such as project management, content planning, or CRM, offering people a ready-made solution to organize their workflows.

Here’s a particularly impressive one called Life OS Dashboard that features plenty of organized sections and even animated headers:

Advantages of Selling Digital Products

Selling digital products offers a range of benefits that are quite appealing.

Let’s take a look at them now:

Lower Overhead Costs

One of the biggest perks of selling digital products is the significantly lower overhead costs.

According to C3Everything on a Reddit thread for Etsy sellers , “It takes zero money to start making digital goods, and very little to sell them.”

You bypass many of the expenses associated with physical products, like manufacturing and storage.

Plus, once your digital product is created, it can be sold over and over again without extra costs.

That makes the process much more cost-effective and efficient!

Passive Income Potential

Digital products offer a sustainable form of passive income.

After the initial effort of creating the product, there’s less ongoing work to maintain sales compared to physical products.

This means you can continue to earn revenue over time without putting in constant effort.

Scalability

The scalability of digital products is a major advantage.

There’s no worry about restocking inventory or expanding physical space.

You can sell an unlimited number of copies, allowing your business to grow without the traditional limitations.

Global Market Access

When you sell digital products, the entire world becomes your marketplace.

You’re not restricted to a physical location. Anyone with internet access can potentially be a customer.

This dramatically increases your potential customer base and sales opportunities.

Flexibility and Lifestyle

Selling digital products often means you can work from anywhere, giving you a great deal of flexibility.

Whether it’s from home, a coffee shop, or while traveling, this model offers an ideal work/life balance and adaptability.

Direct Customer Communication

With digital products, you have unique ways to communicate directly with your customers.

You can build communities, offer exclusive access through various channels, and maintain ongoing relationships.

All things that can lead to more sales.

Creative Control and Brand Building

Selling digital products gives you total creative control.

They represent your brand and expertise, allowing you to carve out a future path that aligns with your vision and goals.

It’s a chance to build your brand exactly how you want it, and make a name for yourself within a given niche without huge upfront costs.

Disadvantages of Selling Digital Products

Of course, there are some challenges associated with selling digital products.

Competition

One of the main challenges when selling digital products is the intense competition. The online market is vast, and you’re up against sellers from all over the world.

Standing out and making your products noticeable amidst a sea of options can be daunting and requires a strategic approach.

Risk of Piracy

Digital products are susceptible to piracy, as they can be easily copied and distributed without permission.

Though not necessarily as big of a risk to software developers or those creating copyrightable works, this is something guide, template, and printable creators should be mindful of.

Building Customer Trust

Creating trust with customers can be more challenging with digital products. Unlike physical goods, customers can’t physically examine digital products before purchasing.

Providing detailed product descriptions, previews, and exceptional customer service can help you to overcome this hurdle.

Value Perception Issues

Sometimes digital products are perceived as less valuable than their physical counterparts because customers can’t physically handle them.

It’s important to effectively communicate the value and benefits of your digital products to justify their price and encourage purchases.

Constant Need for Innovation

The digital product market is always changing, which means you need to keep with the times and innovate.

There is considerable effort involved with staying on top of industry trends, customer preferences, and the latest tech to ensure your products remain competitive and appealing.

Technical Challenges

Selling digital products involves navigating various technical aspects, from website maintenance to ensuring secure payment gateways .

Technical glitches or cybersecurity issues can significantly impact your business. They can require ongoing attention and possibly technical support.

Marketing and Visibility

Effectively marketing digital products is a must but another set of tasks besides making the products themselves.

Ensuring your products reach the right audience and stand out requires a well-thought-out marketing strategy and investment in advertising and promotion.

Where To Sell Digital Products

Deciding where to sell your digital products is as important as creating them.

You have two primary avenues to pursue here: selling on your own site or using third-party platforms.

Each has its advantages and caters to different business needs and strategies. Let’s quickly review both options.

Sell Digital Products on Your Own Website

Selling digital products on your own WordPress website gives you complete control over the process.

You can customize the look and feel of your site to match your brand, and you’re not bound by the rules and fees of third-party platforms.

A popular choice for building a WordPress site is, of course, the Astra theme with Starter Templates .

The Digital Product Store Starter Template is a great option to use for selling digital products.

This combination offers a wide range of design options and is user-friendly, even for those who aren’t tech-savvy.

For the actual selling part, SureCart is a powerful and flexible option for selling digital products.

It’s a WordPress plugin that allows for easy product listing, secure payment processing, and efficient order management.

If you plan to sell memberships, SureMembers integrates seamlessly with SureCart. They make it easy to sell subscription-based products or exclusive content.

Sell Digital Products on a Third-Party Platform

Alternatively, third-party platforms can provide a readymade audience and simplified selling processes.

They vary in their focus and features so it’s worth considering which aligns best with your product type and business goals.


	Wide audience reach, reliable payment processing, strong customer trust
	Ideal for creative and unique products, strong community, easy to set up a shop
	Excellent for educational content and courses, large user base interested in learning
	Focuses on creative learning, good for video-based courses, community engagement
	Simplified selling process, good for a variety of digital products, direct customer communication
	Specializes in creative digital assets, high-quality standards, large creative community

Each platform has its own set of benefits, from Amazon’s vast audience to Skillshare’s focus on creative education.

Consider factors like platform fees, audience type, and the kind of support and exposure you’ll receive when choosing where to sell your digital products.

How To Promote Digital Products

Promoting digital products effectively can make all the difference in turning your online sales efforts into successful revenue streams.

Here are some proven strategies to boost your digital product sales:

1. Create User-Friendly Sales Pages

Ensure your sales pages are easy to navigate and read.

Use bullet points to highlight product features, include eye-catching images and videos, and embed clear call to action (CTA) buttons for easy purchasing.

2. Promote Through Content

Use your existing content channels, like YouTube videos or Instagram Reels, to subtly promote your digital products.

Create content that aligns with your product, and integrate CTAs that direct your audience to your product.

3. Partner With Other Creators

Collaborate with other creators who have a similar yet slightly different audience.

Sponsored posts or affiliate programs are effective ways for these partnerships to expand your product’s reach.

4. Start an Affiliate Program

Create an affiliate program where bloggers, influencers, and marketers promote your product for a commission.

This extends your marketing reach and is cost-effective since you pay only for successful sales.

5. Engage in Online Communities

Promote your product in relevant online communities, like Facebook or LinkedIn groups and online forums.

Ensure your posts are natural and value-driven to build trust.

6. Use Email Marketing

If you have an email list, use it to promote your digital product. For new audiences, create lead magnets to entice sign-ups and nurture them towards purchase.

7. SEO Optimization

Optimize your website and content for search engines using relevant keywords. Include on-page, off-page, and technical SEO to improve visibility and drive organic traffic.

8. Use Social Media Platforms

Build an organic presence on social media platforms relevant to your target audience.

Consistently post educational or engaging content and interact with your followers to grow your base and promote your products.

You can integrate social media sharing into your website as well using WordPress social media plugins .

9. Create Tutorial Videos

If your product is software or a tool, create tutorial videos and post them on platforms like YouTube or TikTok.

Additionally, consider using text to speech software to convert your tutorial scripts into spoken audio, providing an alternative way for users to engage with your content.

This educates potential customers and showcases how your product can be used.

Sell Digital Products and Expand Your Earning Potential

Selling digital products offers a versatile way for creators across various fields to make money.

Whether you’re a writer, designer, developer, or business owner, selling digital products offers endless possibilities to monetize your skills and expertise.

For those looking to start selling digital products, our Digital Product Store Starter Template is a great option to pair with the Astra theme.

It’s a contemporary eCommerce design tailored to showcase digital products effectively. With its calm colors, simple design, and effective typography, this template is designed to convert visitors into customers.

Selling digital products is as much about the quality and relevance of your offerings as it is about effective marketing and finding the right platform to reach your audience.

Explore the possibilities, harness your creativity, and start building your digital product empire today!

Do you sell digital products? Know of other products to sell not mentioned here? Tell us about it in the comments below!

Abhijeet Kaldate is the co-founder and CRO of Brainstorm Force. With a keen eye for detail and a knack for getting things done, Abhijeet oversees the company's operations, managing key areas such as HR, marketing, design and finance.

Disclosure: This blog may contain affiliate links. If you make a purchase through one of these links, we may receive a small commission. Read disclosure . Rest assured that we only recommend products that we have personally used and believe will add value to our readers. Thanks for your support!

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15+ Business Plan Examples to Help You Write Your Own

Written by: Caleb Bruski

Having a clear business plan and sharing your goals with investors and stakeholders is an important first step to starting a successful business. It's like Utibe Samuel Mbom said, “Those who work hard, work alone. Those who work smart, work as a team.”

Whether you’re at a startup creating a pitch deck for investors or an established corporation with a team to work with, it's crucial to write a solid business plan to help everyone grasp the goals and ultimate vision of your company.

Creating a business plan from scratch can take a lot of time and effort. Get a head start by using professionally designed business plan templates. You can find some amazing, ready-made business plan templates in Visme — complete with financial, overview and other important pages.

In this article, we'll show you 15+ business examples to help inspire your own.

Ready to create your own business plan? Build a solid document to bring your ideas to life using our business plan maker . Access pre-made templates, drag-and-drop design tools, free images, interactivity and more.

Simple Business Plan Example
Creative Business Plan Example
Modern Business Plan Example
Ecommerce Business Plan Example
Salon Business Plan Example
Startup Business Plan Example
Nonprofit Business Plan Example
Coffee Shop Business Plan Example
Consulting Business Plan
Fashion Business Plan Example
One-Page Business Plan Example
SaaS Business Plan Example
Photography Business Plan Example
Real Estate Business Plan Example
Small Business Plan Example
Day Care Business Plan Example

1 Simple Business Plan Example

When a business plan is called simple, it does not mean it lacks details. A good business plan should cover the most important details of your core idea and present them in a way that's easy for your audience to understand and remember.

The simple business plan template gives you access to 10 customizable pages for your next business plan complete with stock images and a professionally designed layout that is fully customizable.

These pages can be used to explain your business goals and deadlines to your shareholders, potential investors or employees. Use this simple business plan example and template to effortlessly share your timeline and scheduled launches with others.

2 Creative Business Plan Example

Making your company stand out from the crowd is essential to running a successful business. Use this creative business plan example and template to showcase how your ideas and plans for the future are unique, and why they're worth investing in.

While creativity is what makes our world diverse, your creativity here needs to follow your company’s branding. A key aspect of any successful brand strategy is consistency. Your business plan and any other document should follow the tone and style guide of your brand identity.

To learn more about the importance of branding and style guides, check out our complete guide to branding.

3 Modern Business Plan Example

Show your team what the future looks like with a modern business template.

One of the undeniable characteristics of modern style is the lack of clutter. While not all modern styles go so far as to be called minimalistic, they do share a common theme of being clean and clutter-free.

A restaurant business plan template available in Visme.

This modern business plan example takes those characteristics and applies them to a business plan. By being clean and organized, this business plan template shows how clear and solid the future plans of your company are.

Utilize this template to reinforce a culture of excellence among your work colleagues or impress potential investors with a clean and clear business plan outline for the future.

4 Ecommerce Business Plan Example

Ecommerce stores have become an important part of our society. According to a study from Statista, nearly 15% of all US retail sales were ecommerce sales in the first quarter of 2020.

An ecommerce business plan template available in Visme.

For your online business to succeed and stay up to date with all the online sales, holidays and trends, a clear business plan is needed.

The ecommerce business plan template is a great template for anyone looking to launch or maintain an ecommerce store. Use this example to help you create goals for upcoming sales and deadlines to launch new features in your store.

5 Salon Business Plan Example

This salon business plan is a perfect way to establish and share plans for your salon. With the help of this glamorous business plan template, you will be able to share with investors what your vision is for your salon or any other small business.

A salon business plan template available in Visme.

Our incredible selection of crystal-clear images takes your content to the next level, giving your sophisticated design some extra flair.

Create and share future plans, sales and ideas for your business with those around you. Cast your vision for what the future looks like and invite others to get behind your ambitions.

6 Startup Business Plan Example

Creating a startup can be a difficult task.

Having a great idea is one thing, but creating tangible goals, sharing mission statements and creating a culture that stands behind your original vision is a whole separate challenge.

A startup business plan template available in Visme.

Customize this template and make it your own! Edit and Download

The startup business plan template is a great example of how a business plan should look for a successful startup. The example includes customizable portions to help you share your objectives, values, market analysis and business model.

Creating a successful business plan that is captivating and informative may seem like a daunting task, but it’s actually a perfect opportunity to share your hopes, dreams and goals for your business.

7 Nonprofit Business Plan Example

There are over 10 million nonprofits in the world, and over 25% of Americans volunteer to work with a nonprofit or charity.

If you have a great cause and are looking for a way to bring other people on board, consider making a nonprofit business plan. While technically a nonprofit is “not a business”, a nonprofit or charity requires similar structure and planning.

A nonprofit business plan template available in Visme.

The nonprofit business plan example and template above is a great starting place to get your nonprofit's plan sketched out on paper.

Creating a business philosophy, creating goals and setting deadlines are shared values for both nonprofits and businesses. If you make a great plan, you will be able to compel others to give, volunteer or support your idea.

If you do not form a solid business plan that is easy to share with others, you will have a difficult time building your nonprofit, even if you are working for a good cause.

8 Coffee Shop Business Plan Example

If you’re looking to really spice up your coffee business, take a look at Visme’s business plan template. With an earth-toned color swatch, all of the pages on your business plan will match the overall vibe of your cafe or coffee shop.

A coffee shop business plan template available in Visme.

With the ability to customize your font and colors and find something that will grab your customers’ attention, it's hard to go wrong with the coffee shop business plan. From hiring strategies to operational costs, this template covers all the basic topics you would expect out of a business plan.

Investors and employees alike will be able to see the creativity and art that goes into coffee making with the high-quality stock photos, while also seeing that your business plan is structured and clearly laid out.

A business plan should be detailed and go over market evaluations and your company's marketing strategy. Every page of this particular theme reminds your team or investors that this is a business plan centered around coffee.

9 Consulting Business Plan

Consulting is an eclectic business. A consultant can help in nearly any industry where a person has the expertise and teaching capabilities.

As such, a business plan template for a consultant agency must be versatile and easily customizable. This consulting business plan example is an extremely flexible template to fit nearly any need.

A consulting business plan template available in Visme.

While most business plans are directed towards investors or employees, consulting business plans must also be tailored towards potential customers.

A great consulting business plan template will include a summary, objectives, market strategies, services and price listings for customers.

This template makes great use of large, high quality images. With Visme, you can simply drag and drop images onto the template to replace the existing images with your own.

10 Fashion Business Plan Example

Fashion can be a difficult business to get into due to the fact that most of your competitors are larger and more established brands.

One of the best ways to get the business off the ground is to show investors and customers that you’ve done your research into the market and have a strategy for success.

A fashion business plan template available to customize in Visme.

A detailed plan that shows how your product and business plans outshine the competition is exactly what you need to land your net pitch and get seed money for your business.

The fashion business plan example and template above gives you multiple pages to explain in detail how your business model will work and what your target dates are for particular tasks.

RELATED: 10 Efficient Business Model Canvas Templates to Use

11 One-Page Business Plan Example

Having an outlined plan for your business is an absolute must to have a prosperous business.

As the old proverb goes, “a goal without a plan is just a wish.”

While it is good to know as many details as possible, not every business plan or pitch needs to cover every excruciating detail. When pressed for time or dealing with a simple subject matter, consider using a one-page business plan.

A single page business plan template available in Visme.

The benefit of a one-page business plan is the amount of information retained by your audience. If you can simplify your subject matter to only contain a few main points, the likelihood of your audience engaging with and remembering your presentation increases.

A one-page business plan should cover the core essentials of your business plan and be used as an invitation for further discussion. It may be a good idea to have an extended version of your business plan on standby for when an investor wants more details on a specific subject.

12 SaaS Business Plan Example

A SaaS (software as a service) company is a company that hosts a web application and offers access to the application over the internet.

If you want your SaaS company to be the next big thing in tech, you need a business plan that explains what solutions your application provides, how your research and development financial goals will be met and how your app will be scalable.

A SaaS business plan template available in Visme.

Most applications can collect data with a monitoring tool and give crucial insight to you, your team and your shareholders.

Be sure to utilize these assets and include relevant data into your business plan presentation. This establishes trust with your supporters and helps them know what to expect in the future.

If you would like to know more about how to present your big data points, check out this article on how to use data visualization techniques in your documents and presentations.

13 Photography Business Plan Example

Freelancing can be a profoundly rewarding way of doing business. The freedom to work at your own pace and set your own rules can be a dream come true. However, freelancing also comes with the pressure of always finding the next job or project.

By creating a great customer experience, you increase the chances of drawing people back into your business for repeat purchases and even attract potential investors.

A photography business plan template available in Visme.

This well-structured photography business plan can help create a better customer experience as your client knows exactly what they are getting and how it compares to the rest of the market.

Create a business plan for your photography, design or any other freelance business complete with market analysis, pricing, target audience and plans to scale.

14 Real Estate Business Plan Example

Large-scale real estate investments are rarely done by a single individual. Typically, real estate investments are done by a group of friends, family, shareholders or companies.

Regardless of which category you find yourself in, writing out a plan and projection for your real estate investment is an absolute must to raise investments for a potential project.

A real estate business plan template available in Visme.

Explaining the market condition for the specific region is one of the main pieces of information necessary for a real estate investment. Knowing the market value, potential obstacles and return on investment are all important parts of your business’s plan that need to be presented.

The real estate business plan example goes into detail regarding the market conditions and financial analysis. Within the editor, you are able to import your own data to customize the charts and graphs for your specific situation.

15 Small Business Plan Example

Even small businesses need big plans.

The size of a business does not negate the need for a solid and thoroughly outlined business plan. The tendency amongst small businesses is to keep track and plan things in their heads.

A small business plan template available in Visme.

If a small business wants to scale and be successful, plans and goals for growth need to be outlined and presented. Start by creating a strategic business plan that includes your methodology for reaching your target audience.

From these big ideas, break the plan down into smaller and more achievable goals. Writing these goals out in a plan helps you and your team remember the established goals and creates a great way to invite potential investors into your business.

Take a look at this helpful article to learn how to create a timeline for your business.

16 Day Care Business Plan Example

The daycare business plan example will give you a great idea of what an operating plan should look like. Operating plans are detailed plans that show how a particular person or team contributes to the overall business goals.

A daycare business plan template available in Visme.

Operating plans do not need to cover every minute of every day, but should give an overarching plan for the day to day operations. An operation plan's purpose is to give a good insight into how and where the basic operations of a business will run in the everyday course of life and set milestones for success.

With this comprehensive business plan template, you can show off your childcare business's outstanding services and plans for the future. Customize each page to suit your context and needs.

Create a Solid Business Plan With Visme

The old saying “if you fail to plan, you plan to fail” remains true. Whether you are a new start up company or an established corporation with hundreds of employees, you need to have a business plan that is up-to-date and displays your current goals.

Visme offers tons of high-quality business plan templates that you can easily edit using a drag-and-drop editor in your browser — no downloads or design experience needed.

Or, learn more about how to create a compelling business plan presentation and turn your ideas into reality by impressing investors and stakeholders.

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About the Author

Caleb is a freelance writer, frontend web developer and photographer who is passionate about all things tech.

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How to Come Up with an Innovative Business Idea

Aspiring female entrepreneur researching innovative business ideas on a laptop

21 Jul 2020

Entrepreneurship is the pursuit of opportunity beyond currently controlled resources. By definition, entrepreneurs seek to fill a need in a new way.

For aspiring entrepreneurs, however, generating strong, novel business ideas can be challenging.

If you’re interested in being an entrepreneur , brainstorming ways you can satisfy needs and solve problems is a good place to start.

Remember the golden rule of brainstorming: There are no bad ideas. As your thoughts flow, jot them down so you can later prune the list to focus on your strongest concepts.

Here are some thought-starters for coming up with innovative business ideas and examples of how entrepreneurs have used them to build successful companies.

Access your free e-book today.

How to Come Up with a Business Idea

Is there an easier way.

One place to start brainstorming potential business ideas is by asking yourself, “What task can I make easier?”

A common denominator for successful businesses is their ability to fulfill customer needs . In this case, the need is to create a product or service that makes people’s lives easier.

Related: How to Identify an Underserved Need in the Market

The most innovative businesses have flourished from simple ideas. For example, HelloFresh has taught people how to cook and provided tools to prepare meals more efficiently. It started with a need to make meal planning and grocery shopping easier. By preparing meal kits that directly fulfill busy people’s needs, this idea has seen major growth.

Check out our video on how to come up with innovative business ideas below below, and subscribe to our YouTube channel for more explainer content!

This method of creating a product to fill a need can be viewed through the lens of Harvard Business School Professor Clayton Christensen’s jobs to be done theory , which he presents in the online course Disruptive Strategy .

“A ‘job to be done’ is a problem or opportunity that somebody is trying to solve,” Christensen says. “We call it a ‘job’ because it needs to be done, and we hire people or products to get jobs done.”

Look for these kinds of opportunities in your own life. Every “job” presents an opportunity to create an easier way to get it done.

By centering your business plan on a particular need, you can increase your chances of building a profitable business.

Related: Jobs to Be Done: 4 Real-World Examples

Can I Make This More Accessible?

There are many useful products and services that aren’t readily available to the entire market, creating an opportunity to produce a similar, more accessible product offering.

The founding of Airbnb by Brian Chesky and Joe Gebbia is an example that HBS Professor William Sahlman uses in the online course Entrepreneurship Essentials .

“Chesky and Gebbia observed how hard it was to find housing during big local events,” Sahlman explains. “They decided to list online three air beds in their apartment for people coming to San Francisco for a design conference.”

From there, they added a third member to their founding team, Nathan Blecharczyk, who built the platform for connecting people with spare rooms to travelers needing a place to stay. They called it AirBed and Breakfast, which later became Airbnb .

Chesky and Gebbia noticed hotel rooms weren’t easy to book during large events, recognized a business opportunity, and devised a solution to fulfill a need for accessible, short-term lodging.

There are countless industries and companies whose offerings are inaccessible to certain market segments or during specific periods. Consider how you might fill those needs.

Related: 10 Characteristics of Successful Entrepreneurs

What Can I Improve About This?

For every successful product offering, there's a multitude of ways to make it better. Think of companies you admire and imagine how you could improve their products. As you do so, consider the following four factors.

Graphic showing four factors to consider to improve a product: delivery process, location, cost, and customer experience

1. Delivery Process

Your business idea doesn’t have to be entirely new—it just has to fill a need. If you can identify a more convenient way of delivering an existing service, it could be an opportunity for your business.

Uber is used as an example in Entrepreneurship Essentials . Taxis have existed for decades, but Uber delivered its services in a new, innovative way by linking drivers in their own cars to customers via an app.

This example also shows there are no limits to what type of business you can create. Your business’ ability to fulfill a need will matter more than whether it’s a brick-and-mortar or online business.

Related: 3 Effective Methods for Assessing Customer Needs

2. Location

One of the simplest improvements to a product or service is bringing it to a new location.

Returning to the Uber example in Entrepreneurship Essentials , ride-sharing company Didi was founded in China—a location Uber hadn’t yet reached. Didi used a similar platform and model as Uber but filled a location gap Uber had left open.

What products, services, or concepts have you experienced in other places that you’d like to bring to your community?

Entrepreneurship Essentials | Succeed in the startup world | Learn More

One improvement that can make a significant impact is cost. Determining how to make a high-quality equivalent to a leading product and offer it for a fraction of the price has great potential.

Home security brand Wyze was founded using this logic. After four ex-Amazon employees discovered they could produce high-quality security cameras and sell them for one-tenth the cost of leading competitors, they sold one million security cameras in their first year as a company.

It takes testing to ensure product quality isn’t sacrificed for a lower price, but finding a way to reduce the cost of an in-demand item could jumpstart your entrepreneurial journey.

4. Customer Experience

Taking an existing offering and improving the customer experience for all or a segment of the market can be a valuable way to fill a need.

One example of an organization that’s done this well is Wanderful , a platform that, similar to Airbnb, connects travelers to locals who can offer lodging and travel advice—with the provision that all users are women.

Beth Santos, founder and CEO of Wanderful, noticed that female solo travelers made up 11 percent of the travel industry , which failed to take into consideration the safety, gender norm, and cultural concerns of women traveling alone.

She improved this experience by creating a network of women that can be tapped into for lodging, travel advice, or just a friendly face in a new location. Wanderful has since expanded its mission to give female and non-binary travelers voices in the travel industry through conferences, communities, and recognition programs.

If there’s an opportunity to improve the experience of a specific group of people, act on it and see where the opportunity leads.

Related: 6 Questions to Ask Before Starting a Business

Is It Time to Pivot?

When starting a business, you may need to pivot from your original idea as new needs arise in the market.

For instance, Jebbit , a tech startup that originally offered a platform to pay students for the advertisements they watched, saw a rising need for privacy and consent in the consumer data space. It pivoted to create a platform for secure, declared customer data.

Another instance in which it makes sense to pivot is during technological evolution.

In Disruptive Strategy , Christensen explains that technological advancements can be either sustaining or disruptive innovations , depending on how they impact your company.

Take Netflix : The service was created to allow people to watch movies without going to the video store and accomplished this by mailing DVDs to customers’ homes with prepaid return envelopes.

When streaming came on the scene in 2007, Netflix implemented the new technology into its business model and has continued to adapt as it’s evolved. Because Netflix was able to adopt new technology to continue serving its customers, streaming was a sustaining innovation.

In the case of video store Blockbuster , streaming was a disruptive innovation that it tried but couldn’t affordably adopt. It ultimately led the business to shut down.

When technological advancements arise, think of how your current business model could shift to use innovation as a sustaining force.

More Examples of Innovative Business Ideas

As you think of ideas for businesses, take inspiration from the world around you. Analyze the foundational needs other businesses have fulfilled for society and how they’ve adapted to what customers want.

Remember: As a future business owner, it’s critical to understand your company’s core mission. Focusing on that can help align your startup ideas and provide a greater chance for success.

To gain even more insight and inspiration, consider the following examples, which show how diverse your business model and mission can be.

Notarize , the first online platform for legally signing and notarizing documents is just one example of an online startup that discovered an overlooked need. For many, it’s a hassle to find a notary public to sign a document in person. This prompted Pat Kinsel, founder and CEO of Notarize, to make this difficult, but necessary, task more convenient.

"It really struck me that notarized documents are often some of the most important things people sign, and yet, we have this system that’s 100 years old," Kinsel said in an interview with Inc .

Kinsel designed the Notarize app to connect people to licensed notary publics via video chat so they can see their documents signed in real time.

This need for notarized documents seemed to be a common, but overlooked, need for many professionals. By thinking outside the box, Notarize seized a business opportunity and brought it to its fullest potential.

The development of Starbucks under former chairman and CEO Howard Schultz is another example that highlights how to efficiently choose locations for your brick-and-mortar.

“Schultz admired the sidewalk coffee shops he’d visited in Italy and decided he would introduce the same basic idea in the United States,” Sahlman says in Entrepreneurship Essentials. “That venture became Starbucks.”

Now, it’s rare to walk a few blocks without seeing a Starbucks on a corner. Strategic locations within high traffic routes created a customer base that’s made Starbucks an essential part of their lives.

Perhaps one of the most well-known companies in the world, Amazon is a prime example of fulfilling people’s need for convenience.

This e-commerce business made it the norm to buy items online—including books, music, movies, housewares, and electronics—and have them quickly and conveniently delivered.

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Think Like an Entrepreneur

Coming up with an innovative business idea isn’t difficult if you’re observant. By asking yourself key brainstorming questions, you can generate a list of business ideas that fill market needs, improve existing products, and make daily life easier and more enjoyable.

Do you want to turn an idea into a viable venture? Explore our four-week Entrepreneurship Essentials course, six-week Disruptive Strategy course, and other online entrepreneurship and innovation courses to discover how you can harness the power of innovation. Download our free course flowchart to determine which best aligns with your goals.

This post was updated on September 19, 2022. It was originally published on July 21, 2020.