If your goal in life is to become massively wealthy, chances are you won't get there as a small business owner. However, you'll have a chance to generate a healthy income, be your own boss and make all the decisions. You could potentially have a more flexible lifestyle. Building something from the ground up can make starting a business very rewarding in itself.
Here are my picks for the best small business ideas based on current trends in business and demographics.
Do you want to simply do bookkeeping for a small business? A more involved level of accounting would be doing work up balance sheets, income statements, and other financial reports on a monthly, quarterly, and/or annual basis, depending on the needs of the business.
Many owners don't mind keeping their own day-to-day bookkeeping records but would rather get professional help with their taxes.
Social Media Manager
Many small businesses, brands, or websites are looking for people that are knowledgeable within a social media space that can help them manage all the different platforms that exist. If you like Facebook, if you like Twitter and can add value to another small business on how they can use these tools, then being a social media manager is right up your ally.
Small businesses often don’t have the resources for an in-house IT department but still need help troubleshooting, repairing, and upgrading their equipment. Tech-savvy individuals who go into business for themselves need to keep their computer hardware and software skills up-to-date, and should be on-call whenever a client has a technological emergency.
Perhaps the ultimate job in terms of flexibility and opportunity, a freelance writer has unmatched freedom in how they operate day to day. Besides a computer and a bookmarked online dictionary, freelance writers need an impeccable handle on the English language and thick skin to get started in this industry. Much of their work can be done at home, on the go, or at the coffee shop, so you can be your own boss and make impactful choices on when and where you work and what projects you take on.
It helps to have experience with a couple of niches, like finance or health writing, plus areas of expertise, like copywriting or SaaS content writing.
Start a Franchise
Franchises are great for those that don't want to worry about creating the idea, they can just run with an already existing business plan and focus their efforts on the business.
Every franchise is different so it's extremely important to read all the fine print before embarking on your franchise journey.