I’m going to be those obvious ideas that you can think of yourself like starting a restaurant or a car wash. We’re going to talk about ideas based on recent trends recent growing markets and if you’re interested continue this blog.
By the way very important role if you decide to start your own business. Your motivation shouldn’t be. Because Ella said it’s going to be a great business. Your motivation should be. Wow I love this market. I’ve been on it for a while or maybe you’ve thought of it for a while. Then Ella mentions something that is growing maybe this is the right time maybe this is the trigger for me to go and start something there so always listen to your heart so obvious right but that’s the only thing they’re going to take you through all the problems that you can encounter when starting a business and this will make you successful okay. Let’s do it first business idea
- Sarting a co-working: Space and I know if you live in a big city like San Francisco Los Angeles there are plenty of co-working spaces. But I also find that when I travel to smaller cities. I struggle to find the right place to work out of Starbucks yes a pretty common place to work from like a lot of people bring their laptops. But I just don’t like this barista coffee machine sound it distracts you from anything you do. I don’t like people walking around all the time. Sometimes maybes come in and start crying you know there are so many factors that just distract you. I wouldn’t mind paying what I paid to Starbucks and like coffee fees to a small co-working space what. I’ve seen in other countries what people do they rent an apartment and convert it into co-working space just for friends. They come and work out of there of course if your landlord allows that but people all over the world are looking for smaller places to work out of and I remember back in st. Petersburg. We’re looking for a smaller office like a hundred square feet office and we couldn’t find it. So in some cities there’s definitely a problem with finding the right place to work out of and especially because a lot of people are starting to work from home. There are so many people who just don’t want to stay at home for 24 hours a day. Co-working space is a great opportunity.
- Posture corrector: This business idea hits 74,000 Google searches last month. Do you know what it is it? posture corrector our normal posture. These days are this right. This is a normal posture and it is not normal for our bodies this is why a lot of people go to cut to see chiropractors that’s why I have massage weekly because otherwise my shoulders are just stuck. posture corrector is your business idea so you’ve probably seen them on Facebook you put this small device in your back and it vibrates whenever your posture is incorrect. I haven’t seen a lot of businesses in that space and with this trend 74,000 searches a month there is definitely space out. There for another company and with any market that is just starting to develop. I think there’s always space for like two or three big companies. Because I remember when car sharing business just started to become big there was over and then suddenly lyft appeared. I was like wow why would people start another company on this market and now lift is huge. So it’s because you know you can always make something a little better. You can always make another better offer for your customer. This is how you get clients and ever-growing market.
- Fitness Tech: Here’s another piece of data for you apps related to diet and fitness account for 3.31% of all apps on the Apple Store. What that means everybody understands that exercise is important. Everybody understands that the best way to gain muscle strength is to exercise every day. But actually starting to exercise on any taken day is a huge problem. And what I feel is when I get new sports clothes. When I buy a new fitness course. When I download another app that’s another trigger for me to actually start exercising. I think this is why this market has been growing so steadily and if you’re a fitness coach for example and you have your offline clients. I think the first step into going to this bigger market of online fitness instruction is to tell your clients. Like hey I was thinking you come to train every day at like 7 p.m. why don’t you take my online class to exercise every morning as well because this is a great start of your day and for it’s just $20 a month I Would provide you with like monthly set of exercises to do at home. This is your first step. You don’t have to rush and create a mobile app right away and then you will think of ways to evolve this online thing. Because again it’s growing really fast.
- Men’s Cosmetics: Just listen to the market size $3.4 billion dollars. This is the market size for men’s cosmetics. There is a niche that has been growing really fast one billion-dollar market. Remember Dollar Shave Club and all that stuff 1 billion dollar market shaving cosmetics. Why? because 39% of men in America have beards. This is the whole new market. You start with razors. You start with creams and then you go all the way to beard oils. Two different things that you can Tec rate your beard with one billion-dollar market. I think this business compared to some others that I’ve mentioned before. It’s pretty easy to start because if you’re already in cosmetics business. There’s just another formula that you would need to create and like another marketing strategy. it’s always good to be on a growing market. It’s always great to start before it reaches its peak and I still think it’s on this growth curve right now so this is your office community business.
- Food Truck: Another piece of data failure rate for new restaurants can be as high as 90%. But what if you love cooking what if you like food industry. There is a solution for you with 10 to 20 percent failure rate which is like almost 9 times lower. Food truck business you see those food trucks outside for example here in San Francisco we have those streets where every day from I know 11 a.m. to 2 p.m. We have several food trucks come over and bring foods from. You know different cuisines we have like Russian truck. We have kimchee or whatever like we have so many things this business is pretty easy to start because you don’t need to rent a place. You don’t need to hire a lot of people you. Just turn in the food truck or you buy a food truck depending on your financial resources. Then you figure out where you can go and then every day you can just go to either the same place or different places and again because the failure rate is really low. I think it’s a great way to start your way in the food industry.
- Healthy Fast Food: Let’s jump into the next area of the food industry. That’s healthy fast food if you’ve ever been to Italy and if you’ve ever traveled by car in Italy. You’ve probably been to there gas stations with that prosciutto and mozzarella and arugula salad and those truffle oil sandwiches like this is the best place to eat in the whole Italy. Like those car stops are amazing what happens in the US when I travel from San Francisco to LA by car. I take four boiled eggs celery hummus beans because otherwise I would be stuck with McDonald’s and subway and healthy fast food is such a problem. If you are outside the big city and I think this is a huge opportunity. Especially guys if you live between San Francisco and Los Angeles. So many people who are worried about their health and who want to eat healthy they struggle. So if you go to one of those places where they have all the restaurants and start a healthy fast food. I am I would be the first one who would advertise you for free first of all and then please research this opportunity like even airports. I don’t want an airport they have bread a man chair. I don’t know what’s the right way to pronounce it but they have this amazing a crab salads they have. Avocado salad what do you find in a u.s. airport you find a lot of sandwiches. You find soups that you don’t really want to eat because they don’t smell well. So healthy fast food. Please let me know when you started please let me know where you started. I will make a story on Instagram about you because let’s make America healthy.
- Reusable Bags: The next business idea reusable bags and yes huge trend right now. I think this is one of the best trends I’ve seen people tell me on Instagram like they DM me Ella stop using plastic glasses. Whenever they see me well maybe like a plastic bottle they would DM me. And remind me that we have to be mindful about our planet and I know that there is a lot that can be done. Finland is a great example here they do a lot of recycling in the US. I think California is is a great example in terms of you cannot get a free back when you do your groceries you need to pay at least like 10 cents to get a bag. And in a lot of shops the bags would be paper bags instead of plastic bags which is amazing and with this 10 to 20 cents fee people are encouraged to bring their reusable bag. This is actually a huge business opportunity. Because you know reusable bags tend to be bulky that it’ll be huge and you wouldn’t really cure them with you. But if you make it foldable if you make it stylish so I wouldn’t need to carry like my standard bag. I would just take my reusable bag and put my things into it like this. It would be amazing or a convertible bag. This is a huge business right now. I see a lot of people doing it and if you’re from the US look at your local market if you’re from another country look at your local market as well. Because I think this market is underdeveloped in a lot of countries outside the US.
- Smart Apparel: Do you remember that was this hoody there were four travelers. I think a lot of people like every second person in Silicon Valley had it because we travel so much. He had an inflatable pillow that was inside that hoody. The hood could be converted into something that protected your from light. It had a charger it had like everything you need when you travel. And there were thousands of those hoodies sold online through platforms like Kickstarter IndieGoGo like all of those crowdfunding platforms. And smart apparel industry is projected to hit four billion dollars by 2024. And if you’re a designer for example and you want to continue in the design business. But you think that you know just making another sweat shirt or the t-shirt wouldn’t be that lucrative probably what I would do. I would partner with somebody who knows how to create technological stuff. Like I recently met guys who are doing t-shirts that change their color. So you don’t have to buy like five different t-shirts you buy just one. And there is this fabric that changes its color. There are two people working on it a designer and a guy who knows how to create this fabric. So finding someone who can bring technology into your designer business could be a game-changer. Bbecause again people are looking for smart clothes. I would love a sweatshirt that would warm itself up when it’s cold outside or when it’s hot outside to cool itself. And I know there are a lot of people trying to build something like this. So go ahead check out IndieGoGo check out Kickstarter look what people are buying and then find a partner and create something amazing of your own for this market.
- Travel Consulting: Maybe you’ve been listening to this. You’re like maybe not okay what you’re suggesting is pretty hard to start because yes you need initial capital you can need to find a co-founder you need to be good at technology blah blah blah. Okay here’s a simple business idea. It’s a slightly more I thought well it’s not a slightly Morgan but it’s a very competitive market it’s travel market. We’ve gone from brick and mortar travel agencies one would go to people and talk to them to booking everything online. But there’s the niche in an online booking business. I think needs some improvement. What I’m talking about is actually selling rewards tickets. What’s happening a lot of us I bet you two have a credit card that accumulates miles like for every dollar you get like one mile. A lot of people don’t travel as much like I travel a lot. I use all of my miles but also have a friend who has 600,000 miles. He would do like a post on Facebook every other month saying like I have free upgrades for this in that airline do you want to take them. I also know that some people would want to make some income out of it. What you could do you could buy miles from those people who just don’t use them and sell reward flights to people like me who are looking for cheaper business classes. So for example I’ve recently bought a flight from San Francisco to Munich for. I think it was like a hundred eighty thousand miles plus five dollars in taxes I ran out of my miles cuz I bought a ticket for myself and then take it from my husband. That was it and even wants to fly somewhere else. I would need to buy those flights from a travel agent and I have an agency that I work with but I think sometimes they’re overpriced and every child to them. I tell them like hey I want to fly from San Francisco to whatever they buy miles from somebody else so they’ve already bought those miles for say a thousand dollars and they buy a ticket for me with those miles and price let’s say $1,500. So $500 is your money for your services and I think it’s a great idea. I think there’s a lot of potential there because a lot of people have those miles but I also feel that there is a ceiling to this business because it’s very manual but yeah that’s something you can start right away.
You can start it right now tomorrow or next week.