What kind of business is right for you? We lay out the top new business ideas for different personalities and situations.

Home based business ideas: low-cost, low-risk

Some kinds of legitimate businesses are easy to start on a small budget. A consultant, for example, is anyone who knows how to do something better than others, and has the gumption to market himself – as well as $14 for a box of business cards. Similarly, a professional organizer needs a talent for decluttering, a couple of classified ads (or even better, free word-of-mouth), and not much else.

In general, service business ideas offer a nice mix of low buy-in and immediate returns. If you want to test the waters in an area you love, but aren’t sure you want to invest your retirement savings in your new business idea, consider the following:

• Consulting
• Professional organizer
• Petsitter
• Arts and crafts maker/seller
• Photographer
• Tutor
• Handyman

Read more about home based business ideas…

Internet business ideas: high-tech, high reward

Successful small business startups often start with the existing skills of the founder, turned to a new business idea. If you already have a talent for design, finding bargains, doing research, or connecting people with each other, you may be able to take those skills online to create a new Internet business.

Remember, the key to success is not usually having a new idea, but implementing it well, getting customers, and wowing them so that they come back for more and recommend you to others. If you’re willing to learn the basics of html, Search Engine Optimization, website marketing, and online sales, the following Internet business ideas might be for you:

• Website designer
• eBay retailer
• Internet researcher
• Recruiting

Read more about Internet business ideas…

Read articles on running an online business

Small business ideas, big dreams

Sometimes a new business idea can come from a long-held dream to turn a fun hobby into a profitable life’s work. However, most of these small businesses require significant time, energy, and initial investment to begin, so think carefully about your commitment and do your research before you start.

• Restaurant or Caterer
• Retail storefront
• Home daycare

Read more about starting a Restaurant

Read sample plans for Retail and Online Stores

Read sample plans for Day Care Services and Children’s Products

New business idea: start-up articles

The best business for you is one you love, and are prepared to make a major commitment to. Many small business owners describe starting a new business as more demanding than having a new baby – you have to be prepared to give it your full energy, time, and attention at any time of the day or night. The following articles give you tips on choosing the best business idea for you:

The Right Business for you by Nolo
The folks at Nolo give advice on finding the right new business idea for your interests and risk tolerance.

Top 15 Questions from SCORE
So, you have a new business idea, but you’re not sure how to start. These are the top questions from would-be entrepreneurs like you, with great answers from the experts at SCORE.

Business Startup Strategy
Run your new business idea through a quick feasibility analysis with this short list of questions you will need to answer about your customers, your business goals, and your finances.

Articles for implementing your new business idea

Do I Need a Business Plan?

Know Your Industry Before You Start Your Business

Planning tips from Palo Alto Software customers

How to Form a Corporation

Do You Need Funding?

Planning Tools

One of the most economical ways of starting up is a home based business idea. What business idea is right for you? The best business for you is one you love and to which you are prepared to make a major commitment.

Many small-business owners describe starting a new business as more demanding than having a new baby – you have to be prepared to give it your full energy, time, and attention at any time of the day or night.

If you are thinking about a home based business idea, you’re not alone. Home based businesses are some of the most frequently searched on Bplans.com. Each section below includes sample business plans, business-planning tools, startup kits, and other online resources that are specific to this business idea.

From consulting businesses to personal services to pet care to yard care to computer care, home based business ideas are one of our most frequently searched startup category. The following resources can help you turn your idea into a reality.

Sample Home Based Business Plans
We have 35 different sample plans for home based business ideas, from online administrative assistants to bed & breakfasts to Tarot readers to wedding planners. All are plans for business ideas based in the owners’ homes, and 12 of these home based plans can be read in full online. See the full list of sample plans.

Start a Home Based Business Resource Page
Our start-a-home based business page contains a variety of resources and other tools that will help you effectively write a home based business plan and get your business going.

Business Startup Articles
No matter which direction you are thinking about pursuing, the following articles give you general tips and strategies to help you get started with your business idea.

The Right Business for you by Nolo
If you want to work for yourself, but don’t have a particular business in mind, you’re probably wondering what kind of business you should start. Fortunately, the answer is always the same: start a venture you know…

Top 15 Questions from SCORE
Research of successful entrepreneurs has documented that successful small business people have certain common characteristics…

Business Startup Strategy
…would-be entrepreneurs do a business plan. As a result of completing the plan you will be much better prepared and know whether or not your business idea is feasible…

If you are thinking about an Internet business idea, you’re not alone. Internet or online businesses are some of the most frequently searched on Bplans.com. From strictly Internet stores to websites to complement physical stores and companies to eBay-like auction sales, business ideas on how to start an Internet business are one of our most frequently searched startup category.

What business idea is right for you? The best business for you is one you love and to which you are prepared to make a major commitment. Perhaps it is an Internet business idea.

Many small-business owners describe starting a new business as more demanding than having a new baby – you have to be prepared to give it your full energy, time, and attention at any time of the day or night.

Each section below includes sample business plans, business-planning tools, startup kits, and other online resources that are specific to this business idea, and can help you turn your idea into a reality.

Sample Internet and Online Business Plans
We have over 500 different sample plans, in many industry categories. Some are pure-play (exclusively Internet businesses), and some brick-and-mortar (businesses with a physical storefront or office and websites)  and 125 of these  plans can be read in full online. See the full list of sample plans.

Start an Internet Business Resource Page
Our start-an-Internet business page contains a variety of resources and other tools that will help you effectively write an Internet business plan and get your Web business online.

Other Internet Business Articles
This Bplans.com page, Running an Online Business, contains many articles and tools to help you develop business plans for your Internet business, marketing your e-business, legal issues, and improving your website.

Business Startup Articles
No matter which direction you are thinking about pursuing, the following articles give you general tips and strategies to help you get started with your business idea.

The Right Business for you by Nolo
If you want to work for yourself, but don’t have a particular business in mind, you’re probably wondering what kind of business you should start. Fortunately, the answer is always the same: start a venture you know…

Top 15 Questions from SCORE
Research of successful entrepreneurs has documented that successful small business people have certain common characteristics…

Business Startup Strategy
…would-be entrepreneurs do a business plan. As a result of completing the plan you will be much better prepared and know whether or not your business idea is feasible…

Some business ideas come from a long-held dream to turn a fun hobby into a profitable life’s work. However, most of these small businesses require significant time, energy, and initial investment to begin, so think carefully about your commitment and do your research before you start.

If you are thinking about any of the following small business ideas, you’re not alone. These are some of the most frequently searched on Bplans.com. Each section below includes sample business plans, business-planning tools, startup kits, and other online resources that are specific to each business idea.

Restaurant Small Business Ideas

From cafes to kiosks to fast food to takeout to full-service eateries, business ideas on how to start a small business involving food are our most frequently searched startup category. The following resources can help you turn your idea into a reality:

• Sample Restaurant Business Plans
  We have over 40 different restaurant-style sample plans, and 20 of these restaurant plans can be read in full online. See the full list of restaurant sample plans.
• Start a Restaurant Resource Page
  Our start-a-restaurant page contains a variety of resources and other tools that will help you effectively write a restaurant business plan and get your business cooking.
• Other Restaurant Articles
  This article on marketing your business includes an example about obtaining statistical research on restaurants in your area, as well as suggested agencies to contact for more up-to-date information.

Clothing Small Business Ideas

Coming in a close second are requests for small business ideas involving clothing. And when you think of it, food, clothing and shelter are essential elements of survival, so it makes sense.

• Sample Clothing Business Plans
  Check out our list of clothing-related sample business plans for inspiration and ideas, including traditional retail as well as online businesses.
• Clothing-Related Planning Articles
  Tim Berry, business-planning expert, includes a couple of examples of entrepreneurs creating a small business idea by helping people who hate to shop. Check out his “elevator pitch” article series and see for yourself.

Photography Small Business Ideas

Some people have a natural eye for capturing images on film. If your small business idea involves photography, review the sample business plans for photography businesses. Also, since many budding photographers start out working from home, you should also review the following resources on home-based businesses. And the photograph studio resource page gives additional tools and kits that may be just the right fit for you.

• Sample Photography Business Plans
  Check out the variety of photograph-related sample business plans available, including pet photography.
• Start a Photography Studio Resource Page
  Our start-a-photography page contains a variety of resources and other tools that will help you effectively write a photograph business plan and get your business in focus.
• Start a Home-Based Business Resource Page
  If you are thinking of starting a photography businesses from a home office, this resource page includes additional sample plans from a variety of home-based businesses, including photography, as well as information on start-up kits and articles specifically tailored for home-based businesses.

Salon Small Business Ideas

The hair and beauty salon industry has expanded dramatically from the early days of barber shops, beauty shops and nail salons. Check out the different salon-oriented small business ideas in these sample business plans, for inspiration. And the start a salon resource page includes tools and kits that can help you get your salon business up and running.

• Salon Sample Business Plans
  Check out the variety of salon-related sample business plans available, including day spas, hair and beauty salons, and tanning salons.
• Start a Salon Resource Page
  If you are thinking about starting a beauty salon or spa business, this resource page includes additional sample plans as well as information on start-up kits and articles specifically tailored for this business type.

Small Business Startup Articles

No matter which direction you are thinking about pursuing, the following articles give you general tips and strategies to help you get started with your business idea.

• The Right Business for you by Nolo
  If you want to work for yourself, but don’t have a particular business in mind, you’re probably wondering what kind of business you should start. Fortunately, the answer is always the same: start a venture you know…
• Top 15 Questions from SCORE
  Research of successful entrepreneurs has documented that successful small business people have certain common characteristics…
• Business Startup Strategy
  …would-be entrepreneurs do a business plan. As a result of completing the plan you will be much better prepared and know whether or not your business idea is feasible…

What business idea is right for you? The best business for you is one you love and to which you are prepared to make a major commitment.

Many small-business owners describe starting a new business as more demanding than having a new baby – you have to be prepared to give it your full energy, time, and attention at any time of the day or night.

If you are thinking about any of the following business ideas, you’re not alone. These are some of the most frequently searched on Bplans.com. Each section below includes sample business plans, business-planning tools, startup kits, and other online resources that are specific to each business idea.

Restaurant Business Ideas

From cafes to kiosks to fast food to takeout to full-service eateries, business ideas on how to start a business involving food are our most frequently searched startup category. The following resources can help you turn your idea into a reality:

• Sample Restaurant Business Plans
  We have over 40 different restaurant-style sample plans, and 20 of these restaurant plans can be read in full online. See the full list of restaurant sample plans.
• Start a Restaurant Resource Page
  Our start-a-restaurant page contains a variety of resources and other tools that will help you effectively write a restaurant business plan and get your business cooking.
• Other Restaurant Articles
  This article on marketing your business includes an example about obtaining statistical research on restaurants in your area, as well as suggested agencies to contact for more up-to-date information.

Clothing Business Ideas

Coming in a close second are requests for business ideas involving clothing. And when you think of it, food, clothing and shelter are essential elements of survival, so it makes sense.

• Sample Clothing Business Plans
  Check out list of clothing-related sample business plans for inspiration and ideas, including traditional retail as well as online businesses.
• Clothing-Related Planning Articles
  Tim Berry, business-planning expert, includes a couple of examples of entrepreneurs creating a new business idea by helping people who hate to shop. Check out his “elevator pitch” article series and see for yourself.

Photography Business Ideas

Some people have a natural eye for capturing images on film. If your business idea involves photography, review the sample business plans for photography businesses. Also, since many budding photographers start out working from home, you should also review the following resources on home-based businesses. And the photograph studio resource page gives additional tools and kits that may be just the right fit for you.

• Sample Photography Business Plans
  Check out the variety of photograph-related sample business plans available, including pet photography.
• Start a Photography Studio Resource Page
  Our start-a-photography page contains a variety of resources and other tools that will help you effectively write a photograph business plan and get your business in focus.
• Start a Home-Based Business Resource Page
  If you are thinking of starting a photography businesses from a home office, this resource page includes additional sample plans from a variety of home-based businesses, including photography, as well as information on startup kits and articles specifically tailored for home-based businesses.

Salon Business Ideas

The hair and beauty salon industry has expanded dramatically from the early days of barber shops, beauty shops and nail salons. Check out the different salon-oriented business ideas in these sample business plans, for inspiration. And the start a salon resource page includes tools and kits that can help you get your salon business up and running.

• Salon Sample Business Plans
  Check out the variety of salon-related sample business plans available, including day spas, hair and beauty salons, and tanning salons.
• Start a Salon Resource Page
  If you are thinking about starting a beauty salon or spa business, this resource page includes additional sample plans as well as information on start-up kits and articles specifically tailored for this business type.

Business Start-up Articles

No matter which direction you are thinking about pursuing, the following articles give you general tips and strategies to help you get started with your business idea.

The Right Business for you by Nolo
If you want to work for yourself, but don’t have a particular business in mind, you’re probably wondering what kind of business you should start. Fortunately, the answer is always the same: start a venture you know…

Top 15 Questions from SCORE
Research of successful entrepreneurs has documented that successful small business people have certain common characteristics…

Business Startup Strategy
…would-be entrepreneurs do a business plan. As a result of completing the plan you will be much better prepared and know whether or not your business idea is feasible…

Most people overvalue ideas and being first. You don’t have to be first to have a good business, and you don’t have to be unique. Far more important than being the first is just the simple foundation of giving your customers good value. Give good value for every dollar spent, and that will build return business, and word-of-mouth advertising, and a good business.

Instead of asking yourself whether you’re the first, ask yourself can you get customers? Can you get enough of them to make it work? Will they recommend you, and come back for more? If you can answer yes to these questions, then you can build a business even if you aren’t the first.

Relatively few successful start-ups depend on the ideas or uniqueness. What matters is doing it, starting it up, getting it done. For example, when Apple Computer started in 1976, thousands of people had the same idea. Altair and MIPS were already producing. Every hobbyist club in the country talked about it in their meetings. Jobs and Wozniak, however, did it. They found the resources, contracted people, took the risks and started up.

There are plenty of good examples. Was Federal Express patentable? No, but they did it. Look at Amazon.com; it was a good idea, but easily copied. In that case they knew they had to move fast and gain visibility very quick, to pre-empt competition. McDonald’s? By the time you’ve had a good idea, so have hundreds or thousands of others. Build some advantage first, develop the idea and work with it, bear down and make it work.

If you want to work for yourself, but don’t have a particular business in mind, you’re probably wondering what kind of business you should start. Fortunately, the answer is always the same: start a venture you know intimately.

Know the ins and outs of the business
Don’t fall into the trap of starting a particular business just because someone tells you, “It’s a sure thing.” Potential customers will part with their hard-earned money only if you convince them that they’re getting their money’s worth, so you’ll need to know what you’re doing, no matter what the task.

Choosing a business you know
Starting a business in which you already have experience has many advantages. You can use your knowledge about the industry, your training and skills, and your network of contacts, who might help you find financing, suppliers and customers.

Example
For ten years Steve worked for several different construction companies — first as a journeyman carpenter and then as a project manager. When he got the itch to start his own business, it made perfect sense for him to start a small contracting business specializing in home-improvement. He knew the industry well, including the best places to buy supplies and what he could charge for services, and he had the required skills, such as how to estimate and bid jobs — and it didn’t hurt that he knew how to pound nails as well. The contacts he had developed over the years were glad to talk to him about running a small contracting business, and many customers he had worked with in the past told him they’d be willing to hire him if he were working on his own.

If you’re interested in turning something you know and love into a business, talk to people you’ve worked with about what it takes to run that kind of business. Learn all you can about start-up costs, overhead and expenses and how much revenue you can expect to make. If you have several interests but aren’t sure which would make the best business, consider how you can translate your strengths, education and skills into business opportunities, and research the marketplace to see which types of business are presently needed in your area.

Starting a business in an unfamiliar industry
Unfortunately, the lure of quick profits convinces many people to start businesses in areas they know little or nothing about. This is a sure recipe for failure.

Example
Leo opened an upscale nursery and garden supply outfit at a time when, seemingly, such a business “couldn’t miss.” Leo knew a good deal about running a small business, had a personality well suited for it and could borrow enough money to begin. However, the business never took off, and it cost him two years and $30,000 to get rid of it.

Why? In his hurry to make a profit, Leo overlooked several crucial facts. The most important was that Leo, a self-described “brown thumb,” knew virtually nothing about plants and didn’t really want to learn. Not only was Leo unable to chat with customers about what types of flowers grow well in partial shade or how to get rid of various garden pests, he didn’t even know enough to properly hire and supervise salespeople. In short, Leo made a classic mistake — he started a business in a “hot” field because someone was foolish enough to lend him the money.

If you don’t know much about the business you want to start, but are set on it, be prepared to spend enough time learning it before you begin.

Research and evaluate your business idea
Here’s a step-by-step guide to evaluating whether you and your chosen business are a good fit.

1. Try it out. Before you start a business of your own, get some experience in the industry or profession that interests you — even if you work for free. Learn everything you can about every aspect of the business. For example, if you want to start a pasta shop, but don’t know ravioli from cannelloni, go out and get a job with a pasta maker. After a few months, you should be an expert in every aspect of pasta prep, from mixing eggs and flour to flattening the dough and slicing it into strips.
2. Talk to entrepreneurs in the same field. If you’re not familiar with the business you want to start and you’re unable to find work in the field, talk with others who provide the product or service that interests you. To increase your chances of getting interviews and reliable answers to your questions, it’s best to do this in a different locale from the one in which you plan to locate. Small business owners are often quite willing to share their knowledge once they are sure you will not compete with them.
3. Evaluate whether you enjoy the work and excel at it. If not, find a new venture. It’s a lot harder to make a success of a business you don’t like, and it’s unlikely you’ll like something you’re not good at. If you enjoyed the work and determined you were skilled enough to base your own business on it, go on to the next step.
4. Judge your ability and desire to handle every aspect of the business. If you don’t want to or can’t pitch in wherever and whenever something needs to be done — whether it involves manufacturing a product, dealing with customers or keeping the books — you should think twice about starting that kind of business.
5. Determine whether the business has a solid chance of turning a profit. After working in the field for a few months, you should have a good idea of whether the business is a potential moneymaker. To be sure, you should analyze your market and conduct a break-even analysis, a preliminary financial projection that shows you the amount of revenue you’ll need to bring in to cover your expenses (this amount is called your break-even point). If you’re able to bring in more revenues than your break-even point, you’ll be in the black (that is, you’ll make a profit).
6. Evaluate the risk this particular business requires. Even the best-laid plans can sour if you pick an unusually risky business. For instance, the following businesses have higher than average failure rates:
   • computer stores
   • laundries and dry cleaners
   • florists
   • used car dealerships
   • gas stations
   • trucking firms
   • restaurants
   • infant clothing stores
   • bakeries, and
   • grocery and meat stores.

If your business idea is on this list, don’t despair — it doesn’t mean you should automatically abandon it. However, you’ll need to be more critical and careful with the numbers when preparing your business plan. (To learn why a business plan is critical to your success, read Do I Need a Business Plan, and, for information on creating one, see Standard Plan Outline.)

Copyright © Nolo