For all of the talk about how millennials are marrying later in life and waiting to move out of their parents’ house, they’re certainly an entrepreneurial bunch. With so many going into business for themselves, it’s easy to think that all of the good business ideas are taken, but nothing could be farther from the truth.
The key to being a successful entrepreneur is matching what you love with what you’re good at and what people will pay for. The chances are that you have a skill or passion that is profitable. Continue reading to get some business ideas that don’t require much cash and are perfect for millennials.
Health Store
One of the best things about the millennial generation is that they’re very health conscious. If you’re a fitness guru with a passion for nutrition, then you should open a health store.
It does take capital to open your own store, but don’t be afraid to start small. It’s much more cost-efficient to rent a kiosk in the mall than a storefront, so start with a kiosk and build your business up from there into a store. Even sequoia trees begin life as small seeds.
Learn as much as you can about dietary supplements so that you can provide expertise to your customers. Build relationships with protein, herb, and probiotic manufacturers to develop a supply line for the products you intend to sell. Market your business digitally and in the mall where you launch your store. If you can make your kiosk successful, then you’ll be prepared to duplicate that success when you move into a more expansive space.
Used Car Dealership
Do you love cars? Do you have the gift of gab? Maybe you should put your passion and skills to work and build a used car dealership from the ground up.
Even if you can’t afford a car lot and 25 used cars to fill it right now, the point is to start somewhere. It’s better to start small than not at all.
If you have a sizeable yard or driveway and can park two or three cars where they can be seen by the public, then you’re off to a good start. As far as compiling your inventory goes, do so gradually and modestly.
You can find used cars at wholesale prices at vehicle auctions, so save up for the auction. Even if you have to start by flipping one car at a time, remain diligent. Eventually, one car will become two, two cars will become four. Before you know it, you’ll have the capital and the inventory necessary to fill your own car lot.
Web Design
Websites are a necessity for businesses today, but you’d be surprised by how many small businesses don’t have one. Many people have tried to DIY their own business website only to learn that it’s not as easy as it looks. However, if you have the patience and technological chops it takes to be a web designer, you can make some serious coins.
Social Media Marketing
Nearly everyone’s on at least one social platform nowadays, but nobody understands social medial like millennials! If you’re a social media buff or influencer, then you can turn your hobby into a business at little to no cost.
Believe it or not, companies are willing to pay people who have expertise in social media. If you have that “viral touch,” then leverage it into major profits as a social media marketer or consultant.
As an entrepreneur, you will face doubters, let downs, and days where it seems that nothing is going your way. Even business owners with years of experience have to deal with those issues. Whenever you’re having one of those days — or months — you have to continue to believe in your vision and stay the course. If you build it, they will come!
