Whether you aim to create a million dollar business or want to build something smaller and more local, below are some top entrepreneurial opportunities to try:
1. Become a social media influencer
Ever imagine turning likes and follows into dollars and checks? Now’s a good time to leverage your reputation as a social media influencer.
While it sounds like one of those far fetched business opportunities, it’s become a lucrative venture for people across different industries, including gardening, fashion, food, travel, and even parenting.
It may take a bit of time to build your reputation online, but if you have a topic you’re passionate about and like to talk about, you can make money by growing an engaged audience on social media.
2. Sell coffee
Running a cafe is not your only option if you want to explore all your coffee business opportunities.
With the increase in demand for online coffee retailers, you can sell anything from beans to roasters to cups and other coffee-related products.
Since coffee is one of the most consumed beverages in the world, there are plenty of potential customers ready to buy your product.
Customers also give an advantage to small brands, which means you can niche down and sell to a specific group of people. People already want your coffee, they just need to know where to find you.
3. Rent your unused space
With sites like Neighbor.com, you can easily rent unused space in your home to people who need more storage. It’s become one of the easiest passive income opportunities in the self-storage industry, which is valued at over $38 billion.
Basically, you become a storage unit for someone who lives near you. Instead of going to an expensive storage facility, they come to your house to store and retrieve their stuff.
For more ideas on how to tap into the sharing economy, check out the video below.
4. Sell food waste
We throw out over $990 billion worth of food per year, destroying the environment and making a dent in the global economy. Entrepreneurs are finding creative ways to turn old and unwanted food into profit, and so can you.
You could sell “ugly” fruit and vegetables at bargain prices in a subscription box, turn food waste into fuel, turn rotten food into insect protein, or even create a local marketplace where people can share leftover food.
5. Buy a business for sale
Not everyone wants to start a business from scratch, and that’s OK. With Exchange by Shopify, you can choose from thousands of ecommerce stores for sale and get right into business, fast.
Think of buying an existing ecommerce store as investing in online real estate. When you choose the right property and maintain it, you can create an income stream you can own and grow without doing the heavy lifting.