Starting a successful business begins with a fresh idea. Get the best business ideas to make money in the long term here.
Did you know that there are nearly 8 million small businesses operating in the United States? Forming a business is easy but finding success in business is much more complex.
Are you looking for small business ideas to make money in the years to come? It takes courage to start a new business, but some options are safer and more lucrative than others.
The following guide will explore the top 9 ways to create a business for long-term wealth.
You can find employment marketplaces such as FreeUp and Fiverr that offer freelancers the chance to boost their income. The best part, you can freelance remotely, so you won’t have a commute.
There are many freelancing opportunities like writing, video editing, and coding. All you have to do is show your talents online so people can find and hire you.
Consider freelancing on the side before you fully commit to doing it full-time. Find out what works and what doesn’t while supplementing your current income.
2. CBD Sales
The industrial hemp market size is currently valued at well over $800 million. One of the industry’s most significant products is hemp-based CBD.
With the popularity of CBD rising, now’s a great time to consider selling products to its ever-growing fanbase. You don’t even need a physical storefront because of the e-commerce platform options.
First, research CBD isolate wholesale prices and develop your business plan. Then, study the laws and regulations that come with CBD sales in your area.
3. Rental Properties and Assets
Consider buying a property to fix up and rent out for income. Or, use an existing property that you own as a rental.
You can lease your property out for long periods of time or go the Airbnb route for short-term rentals. Get creative and consider converting a space like your garage into a vacation rental.
If you live in an area near events or offices, you could even rent out your garage or driveway for parking. If you have a pool, you could rent it out for parties.
Assets like jet skis, boats, and ATVs can all generate money if you rent them out. Just make sure you have a proper insurance plan in place to protect yourself before you start.
4. Car Rental Service
The most valuable item most people own is their own, but vehicles are a close second. Platforms like Turo and HyreCar present the chance to rent your car out to others. It’s a great way to start a full-fledged car rental company of your own eventually if you like it.
Hyrecar allows you to rent out your car for both short-term and long-term lengths. Then, they use your vehicle for contract work such as driving for Uber.
Platforms like Hagerty DriveShare prioritize custom, classic, and luxury car rentals. If you have a classic car, consider renting it on their platform and eventually scaling up and adding multiple vehicles.
Any of the car renting methods mentioned are scalable over time. If you love collecting or working on cars, this might be a great path for you.
5. Vending Machines
Purchasing a vending machine and placing it in an area with a lot of foot traffic can generate good income. Just remember that you need to get permission from the property owner and expect to pay them a percentage.
Vending machines require you to restock them regularly, but you get to markup your products to any amount you want. The more machines you add over time, the more passive income you’ll receive.
6. Home Deliveries
Today, it’s extremely common to have goods delivered to your home instead of traveling to a store. Consider if your town and its citizens could benefit from having certain goods and services delivered.
If a delivery service for those goods or services doesn’t exist in your town yet, it could be a very lucrative opportunity. Think about things like laundry, dry cleaning, gifts, packages, furniture pickup, and Amazon returns.
If you’ve ever wanted to be a writer, all it takes to make an e-book is a specific niche and your imagination. Of course, you’ll need to know what people like to read if you want to make sales.
Check out Amazon Best Sellers to get an idea of what customers tend to buy and see if you’re interested in any of the subjects. After using a platform to self-publish a book, you can sell it via marketplaces like Apple Books and Amazon.
8. Resume Writing
Resumes are in high demand but not everyone knows how to write them or write them well. If you understand the format and have a knack for writing resumes, consider offering your skills as a service.
You don’t need to have any startup capital saved to begin running this type of business. You only need to know how to prepare a memorable resume that works with different screening software.
9. Pet Services
If you’re an animal lover, it’s easy to turn your passion for pets into a good source of income. For goods, you might make handcrafted products, pet foods, toys, or treats.
For services, consider a grooming business, dog walking service, or offer animal training. You can also open a kenneling service or doggy daycare if you have enough space.
Choosing Business Ideas to Make Money
Now you have several business ideas to make money, either as side hustles or as scalable companies. We hope this article helped spark your imagination so that you can turn your passions into a sustainable and fulfilling income.
Check out our site’s business category for more tips, tricks, and ideas to help get you started.