Simple and Effective Ideas to Start a Thriving New Business
Entrepreneurship has been on the rise despite the pandemic. The U.S. Census Bureau says Americans are launching startups at the fastest rate in more than a decade.
If you’re thinking about joining the entrepreneurial ranks or starting a different business this year, here are a few ideas for new businesses in this new year.
Delivery or Courier Services
Even though Covid-19 restrictions have eased and consumers are returning to physical stores, the market for on-demand delivery services persists.
The sector is expected to continue to thrive post-pandemic, with delivery services in demand for everything from grocery and restaurant items to B2B products.
Twins RaeShawn and LaShone Middleton started a new niche delivery business after discovering a void they could fill.
“Literally, I was being lazy and didn't want to go get the crabs and realized no one delivered steamed blue crabs,” LaShone told Planet Money’s Cardiff Garcia and Brittany Cronin on NPR.
The sisters, who have culinary degrees, responded with their own company, R&L Crab Co., which steams and delivers crabs to customers in the Laurel, Md., area.
Corporate interest and activity also indicate expanded opportunity in delivery services space.
“On-demand delivery is most frequently associated with food, whether a takeout order from a restaurant or a grocery purchase,” writes Dan Berthiaume in a post for the retail news site Chain Storage Age. “However, leading on-demand grocery delivery platform Instacart has recently launched partnerships with Big Lots and Staples that go well beyond food.”
Teaching, Tutoring or Other Instruction
The pandemic has created a need for more web-based learning and training services, whether that’s in full-time education settings or instructional staffing to improve employee skills.
A new business could cater to a demand fueled by remote learning and at-home work environments. Depending on your skills and experience, you could personally teach or provide the instruction, or start a new business that hires and supplies people who do.
The booming real estate market offers opportunities for a new business that deals in buying and selling of properties or a related service.
The sector has remained resilient despite the pandemic conditions, and actually became “supercharged,” in part to mortgage rates hovering near record lows and the shift to working from home.
U.S. housing gained nearly $2.5 trillion in value in 2020, the most in a single year since 2005, according to an analysis by Zillow.
“You could start your own real estate agency, perhaps focusing on a specific niche that interests you most, such as high-end purchases where commissions can be sizable, or affordable housing where volumes are greater,” writes Ankit Kumar in a post for TechPluto. “Whatever approach you adopt, upfront costs will be relatively low.”
The outlook is positive, as Zillow expects the U.S. housing gains to grow even bigger.
Find Ways to Respond to Consumer Needs – Get Creative
Some of the best business ideas come from entrepreneurs who are looking for ways to improve the consumer experience, particularly in the pandemic-adjusted marketplace.
That’s what entrepreneur Frank Sinopoli says his new business does – a twist on the grocery shopping experience that, he says, is more personal.
“Online grocery shopping is great, but we all still love to pick our strawberries,” he said in a Food Business News story by Monica Watrous.
His new company, Grocery Neighbour, brings the grocery store – fresh produce, meat, bread, beverages, frozen foods, dairy products, etc. – to where local consumers are, via a 53-foot trailer or smaller trucks depending on the need.
Shoppers receive notifications through a mobile app when one of his franchised fleet of trucks-turned-supermarkets is in their neighborhood. With scan-and-go technology, Sinopoli says, the new company gives consumers a contactless experience plus access to a grocery assortment that’s curated and driven by data.
“The beautiful thing about it is each unit is dedicated to a neighborhood and grows and evolves with the neighborhood, meaning the inventory evolves to the neighborhood’s demand,” Sinopoli told Food Business News.
It’s clear that consumers are forming new habits and routines, paving the way for entrepreneurs looking to take advantage in this new environment. Find out if these inspire you or use it as a jumping point to start a new business that solves an unmet need.