When it comes to working, the typical millennial woman would love to have the flexibility and a good work-life balance. Becoming your own boss could give you this kind of balance (and even financial freedom), but establishing the business itself could be a painful and tedious journey.
In truth, however, women in the startup business industry are a rare kind. Although rare, most of them are doing well in their chosen niches. Brit Morin (Brit + Co), Alexa von Tobel (LearnVest) and Meredith Perry (uBeam) are just three of many successful women in the industry. Although none of them are household names yet, they have raised millions of funding for their startups and are living proof that women can make it big in the industry too.
Now if you are an aspiring entrepreneur who’s still not sure about what kind of business to go into, below are five ideas that are worth your consideration. You don’t really have to deal with tech stuff if you don’t want to, there are more options and niches to discover and be successful in.
Social Media Coaching/Training
By now, you might be aware that millennials are known as the most tech-savvy generation to date. Navigating Social Media and the web is like a naturally-acquired skill already, and that makes millennials great consultants when it comes to digital Press Release (PR) communications and marketing.
Starting coaching and training sessions for Social Media and Digital Marketing is a lucrative deal. Best of all, it comes at a low-cost investment because sessions can be uploaded either through free Social Media platforms, personal blogs or websites such as YouTube.
This is not limited to just Social Media and Digital Marketing, if you can do how-to videos of a different niche (such as arts and crafts, brushwork, beauty tips, or food and dessert-making), then that’s so much better. In fact, it is best to find your niche first – and it should be unique and interesting enough for other people too.
Although setting up your digital coaching and training sessions comes at a low-cost, you still need to invest a lot in terms of knowledge and experience on the topic. You cannot become an authority in your niche if you just copy other people’s ideas and strategies – you have to add in your personal input and experiences to the lecture. The bottomline here is, you need to spend years and build-up a relevant work experience before you can become a coach or consultant in any given niche.
Healthy Fast Food Service
The term “fast food” in itself has been correlated with diabetes and obesity over the past few decades. People associate fast food with unhealthy, processed foods (and there is some truth to that). But even then, fast food services still thrive today despite of the known health risks, because more and more people don’t have time to buy raw groceries and cook their own meals at home.
This is where an alternative fast food service comes to play, and by the alternative – this means healthy fast food. Several food trucks and restaurants are already serving healthy stuff, but there’s still a lot of opportunity in this niche.
This type of business, however, needs some capital. You also need to have good cooking skills and be able to partner with local farmers and suppliers for the ingredients you need. To save on capital, you can try setting up a lunch service where you can just send lunch packs/snack packs to customers who are working in offices or schools.
Healthy Pet Food and Treats
Who says only humans need to maintain a healthy diet? Pets do too! Grains and pellets (like fast food items) are high in sodium that can also be bad for your pet’s health. Nowadays, more and more pet owners are becoming highly conscious about what goes into their pet’s mouth – and this is why high-quality pet food and treats could be a lucrative business.
If you have friends who are cat and dog lovers, then you already have a market to start with. All you need then is to create pet food from raw stuff, or partner with a good supplier for this.
If you have the technical skills, website rentals and maintenance services is a good business opportunity. All you need to do is set-up a niche website that a company can easily fill in with a monthly rate – and you can ramp up profits by offering a maintenance and security service for the website too.
Becoming a dropshipper is also like becoming a retail seller – but in the e-commerce industry. First, you decide what type of products (or niche) you’d like to sell on a website, partner with a supplier (such as AliExpress), then set-up your own website. This still requires some technical know-how, but if you have substantial capital, you can opt to hire a developer to set-up your website and pages.
Whatever type of business you may choose, remember that success would depend on how unique and innovative your products and services are. Marketing them right is also a big factor, but that is easy once you start your business with a unique quality product.