Running a small business is always a hit or miss endeavor. Luckily, there are always new niches to fill, and customer needs to satisfy, so you can be successful, if you’re opportunistic, analytical, and creative.
Without further ado, let’s look at some of the best small business ideas to try this year.
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9 Creative Small Business Ideas to Try in 2023
- Candle Making
- Weighted Stuffed Animals
- Bamboo-Based Products
- Home Decoration
- Web Design
- Writing Agency
- Starting a Podcast
- Computer Repairs
1. Candle Making
Candles are romantic, they create a special atmosphere for many occasions. Candles have become quite popular recently, although one can argue that they’ve always been, and will be.
What’s more, they are a great gift, and recent data from Glassdoor suggests that candle makers earn more than $37,000 annually. Need any more convincing?
Candle making is one of the most low-cost creative small business ideas to try in 2023. In addition, you can personalize the candles you create with various scents and messages.
Also, if you want to stand out from the crowd, you can make candles from soy wax or even honey and milk.
2. Weighted Stuffed Animals
If you’re just about to start your own small business, it’s always a good idea to look at what’s trending. One such niche is weighted stuffed animals. They are regular plush toys, but much heavier than regular stuffed animals (2-5 pounds; 1-2.2 kg.).
The idea is that these toys can be relaxing, and reduce anxiety and ADHD. Sure, the stuffed animals are mainly created for kids, but they can also be used by grown-ups who suffer from similar afflictions.
Weighted stuffed animals are a part of the deep pressure stimulation therapy, and there are other similar products such as body wraps, weighted blankets, compression vests, and so on.
Not only could this turn out to be one of the most profitable small business ideas, you are genuinely helping those who need it.
Vitamin gummies, THC gummies, CBD gummies, fruit gummies, sugar free gummies… People love gummies in all forms, shapes, and sizes. So why not ride the gummy wave?
For instance, beet gummies have become extremely popular in recent months, due to their health benefits.
Gummy products are truly a great idea for small business looking to expand their business and increase revenue.
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4. Bamboo-Based Products
Offering bamboo-based products is another creative, and innovative business idea that can generate lots of interest and profit in 2023.
Bamboo is a sustainable, and eco-friendly product, and on top of that, the fabric is much cooler and softer, making it an ideal choice for pajamas, socks, t-shirts, etc.
Apart from clothing, bamboo can also be used to produce various products like toothbrushes, cutlery, furniture, jars, musical instruments – the list goes on.
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5. Home Decoration
Home decoration can be a very profitable small business endeavor, especially if you have experience, or at least design intuition.
In fact, the average hourly rate for interior decoration is around $25, but if you’re good at, and manage to establish your name on the market, you can charge between $50 and $500/hour.
And it’s a long-term business model, since people will always have the need to decorate and freshen up their homes.
6. Web Design
A good web designer can work independently, but if you dream big, you can start an agency, and work with a team of designers.
Build or improve the websites of clients, develop long-term relationships, and establish yourself as a leading design service provider.
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7. Writing Agency
Similar to designers, good writers are always needed. There are a lot of companies that don’t have their own writer(s), so your services will not go unnoticed, especially if you’re good at what you do.
Furthermore, in time you can scale your business as well, as there are a lot of writing services you can offer, like:
- SEO content writing
- Niche writing (fintech, B2B, insurance)
- Editing and proofreading
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8. Starting a Podcast
Contrary to what you may think, running a podcast is not a one-man show. Quite the opposite, serious podcasts usually have a team of about a dozen people that work together to deliver high quality audio, video, production, development, etc.
In terms of revenue, there are different ways to monetize a podcast. You can go for advertising, sponsorships, affiliate deals, and/or selling merchandise.
9. Computer Repairs
We’ll all been in that situation where your computer stops working, and you get frustrated, not knowing what to do. Of course, that’s when you start looking for a specialist, who is fast, reliable and offers quality service, to repair it for you.
If you have such knowledge, or want to assemble a team that has the know-how, why not start a computer repair service?
How to Know if a Business Idea Is Good?
Naturally, there are lots of other creative small business ideas that can be successful. But how do you know whether it’s worth investing in an idea or not?
Here are some important questions to consider:
- Is it feasible? You might have a great idea, but are you going to be able to fund it initially? There’s a high chance that you won’t start making any profit for a couple of months, so it’s essential that you plan accordingly and calculate costs.
- Do you have passion for it? In order to increase your chances of going far, it’s vital to start a business that you’re passionate about. If it’s just another idea that you aren’t that into, it will reflect on your team, the product quality and your customers.
- Is there any need for your product/service? There are already dozens, if not hundreds, of companies that are offering the same thing. That means you might need to think of a way to be original, add value to an existing concept, or choose another type of business altogether.
- Have you tested it and received good feedback? It’s always good to test out your business idea at conferences, events, and in front of test audiences. Even talking about it to close friends and professional acquaintances will do, the purpose is to get opinions. Should your idea create a buzz, that’s often be a good sign that it’s worth doing.
Creative small business ideas are not that hard to come up with. What’s important is that you strategically research, analyze and prepare everything you would need to, so that your small business can succeed.
Of course, there’s never a 100% guarantee that you will create a groundbreaking business, but following the essential steps, your chances of success will increase.
That’s all for now, good luck with your business endeavors, and don’t forget that DevriX is here to help.