Owning and operating your own business—it’s a big part of the American Dream. Americans, young and old, have the desire to build something from the ground up, be their own boss, and create the freedom to live the way they want.
A Bentley University survey of millennials found 66% of respondents have a desire to start their own business, 37% would like to work for themselves, and 25% would love to own their own company. Across the US for those between the ages of 18-64, 69% of men and 58% of women “would rather take a risk and build my own business than work for someone else.”
The entrepreneurship journey usually begins with the desire, and then the idea for the business follows. And since you’re reading this, you probably fall into the category of wanting to start a business but not knowing exactly what business to start.
That’s okay—I’ve got a few ideas to get your creative mind rolling. Below, you’ll find the 7 best business ideas for entrepreneurs to pursue in 2019. Granted, the “best” is purely based on opinion, although it is influenced by market trends and economy needs.
Even if none of these ideas strike you with the conviction to build a specific business, they at least provide a starting point for you to start considering impactful, profitable business ideas for the future.
1. Website Development & Design
Remember that stat about 69% of men and 58% of women wanting to start their own business? Every new business needs a website, and ugly, non-professional pages just don’t cut it anymore.
Tools like Squarespace, Shopify, and Weebly make website development and design simple, but that doesn’t make the task any less daunting to new entrepreneurs. And a lot of new business ideas require complex software and code. With a website development business, you won’t be hurting to find work in today’s market.
2. Digital Marketing Management
This business idea builds off the previous one. After a website is developed, it needs high-quality content and expert optimization to compete, which is why digital marketing services are on the rise. Marketing strategies like search engine optimization (SEO), social media marketing, Google Display Ads, affiliate programs, influencer marketing, and more require specialists to succeed.
Digital marketing business can come in all shapes and sizes—some offer comprehensive online marketing plans while others specialize in specific strategies and tactics.
3. Food Truck Business
The food industry is very competitive, but with low startup costs and a strong potential for high ROI, new food truck businesses are surging. Fortunately, it’s not an oversaturated market…yet.
Food trucks have evolved beyond their original fast-food stereotype. Now, food trucks serve up gourmet, healthy, delicious, and experiential menus. If you have a knack for serving up tasty food and want to get your feet wet with entrepreneurialism, a mobile food truck may be a great place to start.
4. Gadget Repair
Every year, more and more technology is introduced to the masses: smartphones, smartwatches, tablets, laptops, robots, headphones, drones, TVs, and the list goes on and on. Inevitably, these things break, and when they do, the typical consumer has no idea how to fix them.
Plus, a gadget repair service can operate anywhere in the world. I lived in Sierra Leone, West Africa (one of the poorest countries), for a couple of years, and I can attest that even there just about every person had daily interactions with gadgets.
5. Subscription Boxes
At first, subscription boxes were a fad for a few exclusive items that people needed on a recurring basis. For example, people needed new razors each month, makeup refills, or hair products.
Now, companies are building subscription box models around every product imaginable: video games, wine, ties, socks, food, books, etc. And the complete list of novelties people will subscribe to is far from exhausted! If you have a product people want, you can likely turn it into a subscription box model.
6. Niche Gyms
Research suggests that traditional gyms like 24 Hour Fitness, Golds Gym, and even Planet Fitness are losing members while boutique gyms are growing. Millennials are gravitating towards the new sport or class-centric gyms that offer focuses like spin, yoga, CrossFit, swim, or boxing.
And for those looking to start a gym in 2019, this is a huge plus. These new boutiques charge a premium and end up paying a whole lot less in overhead for real estate space and general equipment. Win, win.
Typically, houses increase in size following a recession, but that’s not the case for this generation. Home size is shrinking on a global level. But most Americans can’t fit all their belongings in their home, which is why the self-storage industry is quickly growing in popularity. If you live in an area where the properties are small and storage is scarce, this could be a perfect opportunity.
Any of these ideas can be the foundation for your next business. If you’re attracted to any of these particular business models, build it out further and make it your own. Hopefully, this provides a good stepping stone for your next big idea!