Today, there are hundreds of businesses lurking around the street. And thanks to the insatiable wants (and funky desires) of man, these businesses recoup their investment and generate significant profits.
While there are lots of business ideas anyone can start up, entrepreneurs (especially the set of young entrepreneurs) might not fancy the bulk of these businesses.
This leaves us with a need to identify business ideas for young entrepreneurs (like you) are willing to buy into and make a living off.
Without further ado, here are 33 best business ideas for young entrepreneurs that are cost-effective, profitable, and easily thrive:
33 Business Ideas for Young Entrepreneurs in 2021
There are lots of business ideas for young entrepreneurs you should venture into. But in this post I will point out 33 best business ideas for young entrepreneurs, how to start them and the cost of running any of the business.
Blogging is easily one of the top business ideas for young entrepreneurs today. It’s easy to start and it doesn’t really cost much.
Like a normal business, the best way to make profit off a blog and to build an audience is to focus on a niche, consistently publish content, and work in synergy with other bloggers.
This way, you won’t be blogging in isolation – and you’ll get the world to know about your capacity and expertise in your niche.
Dropshipping is one of those businesses that runs on autopilot. It’s a lot like having your customized e-commerce store, when clients order items, a different (and original supplier) sends the items their way under your name. It’s cheap to start, and it’s one of the top online business ideas for young entrepreneurs.
To begin, start a blog, install e-commerce and dropshipping tools/plugins like Ali-Dropship, build and design your e-commerce website to your satisfaction, connect it to another store like Shopify or AliExpress using available plugins (to automate order redirection) and market your online store to get more sales.
3. Hair Salon Business
Very profitable business ideas for young entrepreneurs is this hair salon business. If you’re the fashion type, then this is for you. It’s expensive on the flip side, and the nature of the business requires a perfect location to touch the brink of success.
Starting a hair salon business doesn’t necessarily require you (as a young entrepreneur) to acquire the skill. You can start it up and recruit competent barbers/hair groomers to run the business.
4. Affiliate Marketing
As an affiliate marketer, you can build systems in the online world to generate a steady flow of income while you sleep and snore. Truly, affiliate marketing is one of the most profitable business ideas for young entrepreneurs. Especially as it’s a path to building a passive income stream.
Master the craft and you’re good to go. It’s all about referring clients and getting paid. You can achieve this by either launching an affiliate blog, a YouTube channel, running dedicated Google ads, or managing a dedicated social media page.
5. Digital Marketing
As a young entrepreneur, digital marketing skill is paramount. Best part? You can kick-off an entrepreneurial venture off the digital marketing sphere.
This means you can start a digital marketing firm, source for clients, assume the risks of the business, and count your profits. The concept of digital marketing takes its carcass on the services of helping firms get more clients online and maximize performance (and sales). Learn more on digital marketing skill with the link provided above.
6. Fish Farming
Another business that fashions the spirit of entrepreneurship is fish farming. Aside from being one of the businesses ideas for young entrepreneur, you don’t have to learn everything about it or get things done yourself.
Hire skilled fish farmers or people experienced in the business to run it. Your roles are financially-oriented, highly supervisory, and inquisitive.
7. Barbeque Business
With the millions of barbeque addicts out there, it beckons on you to capitalize on the rampant addiction for barbeque.
Acquiring the skill is an edge. But as an entrepreneur, you take risks and build systems that work without your entire involvement. If this doesn’t fit with the nature of your business, you’re more of a small business person than an entrepreneur.
Starting a barbeque business is highly profitable for entrepreneurs, and you can plug in the automatic functioning of your business by hiring skilled staff to get things done. To strive for success and reach it, your business should be situated around a favourable spot.
8. Cyber Cafe Business
Looking for a business you can get off the ground as a young entrepreneur? Then the cyber cafe business is definitely one that suits your pursuit. It requires a fat capital, and you can recruit staff to help with running the business while you get other things done.
The cyber cafe business is profitable. A favourable location is a prerequisite to getting more clients and making more money.
9. Poultry Farming
With chicken being one of the world’s favourite meat, 664 million chickens are killed in Australia alone every year.
This figure will definitely balloon above 2 billion if we sum other countries. Starting a poultry farm will definitely make you lots of money as a young entrepreneur.
You can decide to make it a side hustle, or a full-time business. Anyone you pick, the business joins the list of most profitable business ideas for young entrepreneurs.
10. Social Media Marketing
The digital age presently has a lot to do with not just the internet, but social media (as a fabric of the internet). And without an in-depth knowledge of how the internet (and social media) works, you might not get too far as an entrepreneur.
Learning how the internet works will give you an edge in business and you’ll reach more people with this skill. Social Media marketing is one of the skills you acquire in your voyage to learning how the internet works.
To tap into the social media marketing industry, you can start up a social media marketing firm to handle the marketing activities of companies, individuals, and brands.
11. Tech Development
Build a tech to solve world problems, you become a billionaire. Although the stress bothers on marketing your tech solution, that’s after coming up with the perfect billionaire tech idea.
Right now, there are dozens of challenges the world hasn’t eradicated. Think of how COVID-19 made the smartest scientists dummies. What if you came up with the perfect COVID-19 solution overnight?
What if you built the tech that’ll travel the world across different times in human history? In a matter of days, you’d become a top 5 on Forbes billionaires index.
12. Real Estate Venture
Here is one of the trending business ideas for young entrepreneurs. With the swarm of young entrepreneurs trooping the real estate market, it’s a major indicator the business is truly one that breeds and suits young entrepreneurs.
The industry can make you a billionaire from nothing. Most of the billionaires in the world today breached major success from being real estate entrepreneurs.
Surprisingly, you can start with $0 and make thousands of dollars in the next 3 months. Basically, you’d be connecting buyers to sellers and keeping your cut off the deal.
If you want to venture in this business, read how to start Real Estate Business.
13. Rental Services
You can make this a side business or dedicate your time into it as a full-time business. Establish a rental service firm to provide equipment for a variety of occasions/ceremonies at a cost.
Alternatively, you can start up an event equipments rental firm, an auto rental firm, or even acquire (or build) an event centre furnished with every good thing a perfect event craves.
14. Hire Purchase Investment
A hire purchase basically is you acquire an asset and put it up for hire. When your asset gets hired, you’ll get paid a fixed dividend (which is highly dependent on the type of asset and the common terms between you and the hirer). This is one of the simplest business ideas for young entrepreneurs with money already.
For instance you acquire a vehicle and put it up for hire. Anyone who hires will pay you a dividend weekly or monthly (or daily).
15. Cryptocurrency Exchange Development
Since the last decade to date, cryptocurrency topped the list of anything trending on the internet. You hear it every time – the tale of Bitcoin inflating from below $0.1 in 2009 to $64k+ in 2021 within.
As a young entrepreneur, your garland in the crypto world could be setting up a trading firm or the best (and most costly) option – a crypto exchange platform where people can execute trades (or buy and sell crypto assets).
If you pick the latter, then you’ll be up for some serious marketing activities to reach your goals, shoulder the competition, and amplify ROI in the long run.
16. Video Content Creation (or YouTube Monetization)
There are several ways to make money from creating video content, but for a brooding young entrepreneur who isn’t ready to spend much at the start, YouTube is just perfect.
Today, millions of YouTubers make money off their YouTube channels. And it’s totally free to start. It’s a business idea for young entrepreneurs, and it gives you a platform as an entrepreneur to exhibit your entrepreneurial/social acumen.
Again, running a YouTube channel is something you can do part-time as a young entrepreneur. You can also commit to it as a full-time business and design a cubicle to stay focused.
Reaching success with a YouTube channel takes grit and patience. But before zooming off to YouTube, pick a niche, and never veer off your niche while you maintain a consistent content creation timetable. This way, it’s easier to create content, engage your viewers, and create products you can sell.
17. Small Chops Repackaging and Delivery
Small chops are delicious, have millions of addicts (and crazy lovers), and are very nutritional. While the business is a cheap one to start (for young entrepreneurs), it’s also one of those businesses with a huge market.
Small chops are loved and masticated by people of all age groups – even 3-year olds. It’s a top business idea for young entrepreneurs looking to start up something they can start making money off within a short span of time.
18. Hamper Business
Hamper has to do with packaging and delivering items in a basket. Now if you’re an entrepreneur, you don’t want to learn the skill. You can actively source for jobs and outsource them to hamperers who can hamper anything thinkable.
It’s definitely one of the cheapest on the list as it requires almost $0 capital to start up if you’re delving into sourcing and outsourcing hamper contracts.
On the other hand, you might want to acquire the skill to get things done faster (yourself). Adding a tinge of professionalism, you could start up a hamper firm to receive multiple hamper contracts.
19. Eggs Supply
Eggs complete the list of protein foods on the balanced diet table. Does it? Fun fact: in 2018 alone, China produced about 466 billion eggs. And that was just 34% of the total global egg production for that year.
Let’s do a little mathematics – if 1.4 trillion eggs were produced yearly, the average person consumes 174 eggs each year. 1.4 trillion is a huge stack of eggs to go round the world.
Leave the stats guys to the stats, you can start up eggs supply and cash in on the business within weeks. It’s cost-effective, and the multiplier effect for this business is 100% feasible.
20. Dry Cleaning Business
Not everyone has the avalanche of time to wash and perform laundry services on their clothes. Great! This lag is a business idea for young entrepreneurs especially as it requires minimal funding to start up.
Before starting a business like this one, pick the best location where you’re more likely to be seen and attract more (high-paying) clients. You can have a staff run the business while you focus on some other business venture (or a stable 9 – 5).
21. Fashion Design
Fashion is one trend that’ll never die out (unless we resort to rocking animal skins and leaves). At the time of writing, Benerdt Arnault tops the world’s richest people list on Forbes, beating mild Bezos and famous Musk to the game.
Apparently, there’s much room for any young entrepreneur to thrive in the fashion world, but you’ll need to integrate intensive marketing, and a paradigm shift in packaging/delivery unique from the competition’s structure.
22. Uberpreneur Business
So if you’ve got a car of your own, you can turn it into a cash cow. How? By running Uber or picking up passengers at different locations using the Uber app.
Register with the Uber app to get started. You decide when you work and you earn for picking up random passengers. Daily, you can earn only so much money to recoup the cost of running the business. Without a doubt, this is a top business idea for young entrepreneurs looking to attain financial independence and security.
23. Snail Rearing
Snail rearing is a cadre of livestock farming, and one of the most profitable. Start small as a young entrepreneur and grow steadily in piecemeal. With about $18 – $40, you should have your mini snail farm set up.
You don’t need to build an expensive, exquisitely furnished house for your snail stock. They also survive in cheap bowls punctured for oxygen flow/ventilation.
Medically, snails have surprising benefits. And much more than that, it tastes real good. Its health benefits and tasty flavour synergize to appeal to a huge market.
Freelancing is as easy as getting something done and getting paid to do just that. To become an entrepreneur freelancer, you must be good at something.
It’s gotta be web design or ghostwriting. Or even transcribing documents. Whatever it is you’re good at, chances are there’s someone out there willing to pay you to help them out.
So what do you say?
It’s definitely a yes if you’re looking for businesses you can start up without any capital as a young entrepreneur. Some of the best freelance platforms out there include Fiverr, Freelancer, Upwork, and Flexjobs (Premium).
Read Also: Best Online Business For Students
The first step is to sign up, and create a rich portfolio. Afterwards, start hunting for jobs you can do. These freelance marketplaces have inbuilt algorithms to match your hobbies (and areas of expertise) with clients (or employers) demands.
25. Auto Spare Parts Importation
This business is all about importing and trading auto spare parts. Now if you have an idea as to how some vehicles can be expensive, you’ll know spare parts also cost a lot of money. The business is capital intensive, and a highly profitable business idea for young entrepreneurs.
26. Software Development
If you take a glimpse at Forbes list of richest people in the world, you’ll find a similar trend – software developers and founders are hovering the list as billionaires.
Building a software from scratch – especially one that solves a common problem – will pay you off big time. For young entrepreneurs, software development is one business idea that is both profitable and has a chubby tendency to make you millions in profit.
27. Sports Betting Business
Who doesn’t love sports? If it’s not soccer or basketball, it’s perhaps hockey or volleyball (or table tennis).
The fact that sports alleviate stress and injects us with pleasure for happy living makes it a profitable business for young entrepreneurs to start up.
28. Restaurant Business
Food is paramount to human life. And if you don’t eat for a peak time of 21 days, you’re more likely to die from hunger than to go watch a movie at a Cinema.
Young entrepreneurs can leverage the necessity to masticate delicious delicacies for survival to enrich themselves and create an evergreen profitable venture. It only takes a little cash to set up a restaurant, and you can cobble up the entire business procedure (food preparation, delivery, packaging, and marketing) easily.
29. Bread Delivery Business
Although it’s interesting to note that 12 million loaves of bread are sold each day, the profit turnover for this business is on the high side. And it’s one suitable business for young entrepreneurs looking to smear their time on other endeavours.
If you’re currently trundling the entrepreneurial path, then starting off a bread delivery business will prove very profitable as you’re not solely engaged in every process of the business.
30. Pizza Delivery
While Pizza has become the favorite for many, the delivery of this Italian dish makes for a suitable entrepreneurial venture.
If you want to flex your potential as a young entrepreneur to found a pizza delivery firm, it’ll definitely be worth it. What’s more? It’s a profitable business, and doesn’t cost a lot of money to kick start.
31. Mini Importation
Starting a mini importation business is profitable for young entrepreneurs. And you can start without a capital by running an Instagram shop and purchasing goods using upfront payments from clients.
To make things a lot more serious, acquire some quality items (mostly fashion/clothing items) and hire a space/store at a very favorable location or a commercial site. The better or more busy the location, the more chances you have at making more sales and money.
32. Car Wash Business
With so many cars roaming the streets nowadays, not every car owner possesses the luxury of time to wash and fix up their cars.
This makes the idea of starting a car wash business a good fit for young entrepreneurs. It’s pretty much one of the suitable business ideas for young entrepreneurs, and it’s not as capital intensive as starting an auto spare parts importation business.
33. Website Development
Are you skilled in building websites and web apps? Then you can kick start a business off your skill as an entrepreneur. On the flip side, you don’t really need to be a web developer to capitalize on this business idea.
To begin, launch your business nominally and promote it on social media. Reach more clients, get jobs, and outsource the job to skilled web developers.
You can start up a web development firm without a prior knowledge of the commonest web design language (like HTML). Regardless, having the web design/development knowledge leaves you at an advantaged quarter.
Clearly, these business ideas are the best profitable business ideas for young entrepreneurs. And the most interesting part is some of them on this list don’t require intensive capital to start them up. You can choose from this list and get to work immediately.
Always remember – as an entrepreneur, there are multiple factors to maneuver to achieve your desired goals. And failure is not an end, but a ladder to success.
Moses Ukanna is a business consultant, crypto trading veteran, blogger, real estate investor, and serial entrepreneur. He runs the Potent Stack Digitals, Potent Stack Properties, and Smart CryptoMunch firm. He currently blogs at Potentstack business blog and loves to create valuable pieces of contents to guide business people & entrepreneurs.
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