I was also once a young entrepreneur (I started when I was 28). Now, I am a not-so-young-but-still-somewhat-young entrepreneur. But I’ve learned a lot. Back then, of all the business ideas out there, I started a wholesale distributor of fair trade sports equipment.
In my reckless youth, I decided to ignore all the advice I received. But I was convinced that I would be the most successful ever. And my business did have success… at least until our main client stopped paying us. At the end of the day, I learned the hard way.
Now, this might sound like a terrible story. It wasn’t: I learned to be a better and smarter entrepreneur. Therefore, so that you do not go through the bad times I went through, I decided to write this list of business ideas for young entrepreneurs.
Young Entrepreneurs Can Succeed
There are tons of examples of young entrepreneurs whose companies succeeded. They didn’t need tons of experience or to be old to have a profitable company. What mattered was their passion.
Do you know the names of Kevin Systrom and Mike Krieger?
In just eight weeks, these young friends created Instagram. And Facebook, founded by another young person, Mark Zuckerberg, bought it in 2012 for $1 billion.
What about Tomás Diago?
He founded Softonic when he was just 22.
An extreme case of baby-entrepreneurship is that of Jordan Casey, an Irishman who developed a video game (Alien Ball vs. Humans) with just 12 years. His app achieved millions of downloads on iTunes. He has had subsequent successes and failures (when he was 16, he was CEO of three companies).
This only goes to show that age is not an obstacle for entrepreneurship.
With a carefully thought strategy, success is possible. If you can adapt to daily changes, you will achieve your goals.
At Camino Financial, we all know the successful entrepreneurial story of our founders, Sean and Kenny Salas. When they were young, just out of college, they decided to undertake in the financial world.
They know how hard it is to start a business, but in the end, these difficulties became triumphs.
15 Business Ideas for Young Entrepreneurs
To start a business, you need to add value with a product or service, a strategy, and an action plan to develop it (and resources to start and make it grow).
I know, firsthand, some of the options on this list, some others are recommendations of experts in these circles.
But if your future business is not included in here… go ahead! Remember that you need a strategy, an action plan, and resources. Do not let anything stop you.
1. Do you think E-commerce is the future?
E-commerce is a continually growing industry. If you want to start an online store business, it’s essential to know specific guidelines on how to sell online.
You could sell your own products, retail other products, or build online stores for other businesses. Young entrepreneurs tend to succeed when it comes to E-commerce.
2. Can you develop software?
This is a field with exponential growth and high demand. And it’s very profitable.
Some companies may not be able to hire you permanently, but only for specific projects. This allows you to work for different companies throughout the year, or join a team of developers with work overload that may need your services.
Software development offers exciting opportunities that will help you grow professionally.
3. Have you ever heard of commercial intermediation?
It is about contacting a seller, finding a buyer and earning a commission.
You can talk to all kinds of businesses: entrepreneurs who want to get rid of their stock, sellers overwhelmed by their low capacity, companies that need to delegate the selling to a professional… the list goes on and on.
4. Are you skilled at gardening?
Around you, there are many gardens that need maintenance. Their owners (due to lack of time or old age) want to see them taken care of, but can’t do it themselves. Others don’t want to pay for gardening tools.
You can help these people and amortize the price of the tools by using them in various gardens.
5. Are you good at drawing?
You can work for magazines, newspapers or publishing houses by making illustrations or cartoons. Also, you can draw personalized portraits or personalized comics.
Social networks, word of mouth, and the publication of your work will be your best ambassadors.
Nowadays, and thanks to the internet (and sites like Patreon), young entrepreneurs, that are illustrators, make a living using their artistic abilities.
6. Are you a designer?
All companies need marketing to promote their products and services. You can start a design agency that creates logos, web designs, promotional videos, and more!
You don’t need expensive resources, sometimes your knowledge and a computer are enough. Use and monetize your creativity!
And for if you’re not an expert in specific fields, you can hire employees (or freelancers).
7. Are you a good cook?
What about having your own business? That’d be great, right? And it’d be better if you could take it anywhere you go. Starting a food truck is a great idea. These mobile restaurants have gained a lot of popularity in recent years. Take advantage of this.
Starting a food truck is not very expensive, and you can move from place to place, city to city, from customer to customer.
8. Can you offer specific services?
You can open a company to offer your services. There are hundreds of markets to exploit; it all depends on your knowledge and skills.
For example, if you are a nurse, you can supervise patients, offer timely care, take care of older people, etc.
If you’re a personal trainer, you can offer your services in different gyms, or at the client’s place.
If you enjoy and are good at taking care of children, you open a day-care.
Remember, young entrepreneurs that are agile when it comes to emergencies and last-minute calls (you can form a team of experts in your small business to help you) will always have work.
9. Do you love cars?
Many people lack the time to take care of their cars (check-ups, gasoline, oil, cleaning, take it to the mechanic, etc.). Owners are very willing to invest significant amounts in the maintenance of their cars. But finding a trustworthy person can be hard.
You can offer all those services! In addition, your business idea can even specialize in a specific type of car (classic, sports, etc.).
10. Could you share your skills and knowledge?
The essential ability nowadays is “Learn to Learn”.
As a young entrepreneur, you can help students in difficulties, by accelerating their learning and, by extension, their motivation and performance.
If you are a musician, an expert in digital subjects, a teacher, or if you excel in languages, you will find a massive market of clients who want to accelerate their learning.
You can do it at home, go to the client’s place, or go to companies. You can offer group or individual classes, either for children or adults. There are hundreds of options and business ideas. You can even form a team of specialists and open an academy.
11. Do you have extensive knowledge of social networks?
You can be a Community Manager and offer your skills to any type of business. It could be a large company or a smaller one. They all need a social media manager.
You can start a small Social Media agency and offer your services to businesses that don’t know how to use social platforms but want followers.
12. Are you a photographer?
The photography field is enormous, young entrepreneurs can take advantage of this. Photos are always necessary; everyone needs and wants them, for example, pictures of products, facilities, equipment. And that’s not it; you can also offer your freelance abilities for family events, such as weddings. Another niche for this business idea: pet photography.
13. Do you write?
It’s hard to make a living as a writer, but self-publishing your publications and selling them online is simple and easy. Besides, the costs are very reasonable.
You can even find print-on-demand companies: you can only print the books you sell. This eliminates the risks of having an unsold stock.
14. Do you have a property you’re not using?
With the right marketing and comfortable furniture, you can rent the space for freelancers that do not want to work at home, like a co-working space. You can also set up a small education academy, or rent it on Airbnb. There are tons of possibilities.
15. What about a restaurant franchise?
There are many restaurant franchise options. If you’re a young entrepreneur, keep them in mind, mainly because many do not require a significant investment.
If you are convinced of the success of your business idea and you don’t see it on this list, remember that you don’t have to discard it: these are just recommendations. Just remember to have a Plan B, don’t be kamikaze.
A short-term mindset is not a good business partner. Think about the long-term feasibility of your idea and how much it can be improved.
Start Your Journey in the Business World
I hope this article has been useful. Remember that beliefs modify perception (science says it!). Don’t assume that a business “will not work” or “will definitely work.”
Stop, think, design a strategy and action plan that you can review continuously to prevent disasters.
You might find this article useful: What is the true cost to own a business?
Good luck, and if you decide to start this journey, count on us!
We can help businesses that need financial support. At Camino Financial, we are proud of our motto, “No Business Left Behind”. Contact us, and we will review your case. We can help you with financing and resources to start and grow your entrepreneurial dreams.
Become a part of our family and join us!