So you've either decided to take the leap of faith and become an entrepreneur, or you're still trying to figure out if it's the right move for you.
I've been there. It's exciting and daunting at the same time.
One crucial element to your financial success is determining what business ideas are profitable and offer the best opportunity to secure impressive ROI.
Business ideas which will allow you to dominate the market and your net profit margins.
To show you how much we appreciate you stopping by, we did more than just give you a list of the top 10 small business ideas.
We have compiled 151 of the best small business ideas to make you money in 2021, sure to bring in impressive revenue if you're willing to put in the legwork.
But before we dive in, let me give you the inside scoop on my story.
Hi, my name is Ippei.
Several years ago, I found that I was tired of the grind (I'd be willing to bet that's where you're at right now too.)
Tired of making money for someone else.
I wanted to take the leap and become an entrepreneur, but wasn't sure I could make it.
Then in 2014, I found this course.
This business model gave me the tools I needed to work from home.
Designing and ranking websites on Google that generate leads for small business owners.
I quit my job and am now a self-made entrepreneur with a dope pad in San Francisco, making more money than I ever thought possible.
That tree service site above has been making me $2,000 per month for the last six years.
IMO this biz model is one of the best opportunities on the internet, and I'm going to show you why.
For The Foodies
Fancy yourself a bit of a culinary whiz?
Have a way of fusing unique tastes to entice and delight fellow food critics?
If you can create an exceptional experience with an interactive element, there is potential for you to make considerable coin in the food industry.
Highly competitive, market revenue equals $924,289 million in the USA and is expected to see an annual growth rate of 1.8% between now and 2025.
With the average American spending roughly $2,792/year on food, despite a 'cut-throat kitchen' atmosphere, the food industry offers some of the best business ideas in 2021.
Here are a few of our favorites for you to consider:
1. Olive Oil Pop-Up Shop
It's no secret that the olive oil is only gaining popularity as people endeavor to consume more high-quality, healthy fats.
Globally, the olive oil market is worth an estimated $2 billion and is expected to see a CAGR of 2.9% from 2020-2027.
With tantalizing olive oil infusions with flavors such as rosemary and garlic basil to citrus habanero, connecting with a wholesale distributor is crucial.
You can opt to sell olive oil online or in an establishment.
The beauty of pop-up shops is that your business is a novelty-it's only there for short time creating the FOMO (fear of missing out) effect which is an excellent marketing strategy to boost sales and your bottom line.
You can also add a ticket component where people can engage in an olive oil tasting--like wine tasting, but safe for shoppers under the age of 18--to maximize your profit potential.
This article advertises its wholesale olive oil brand, but also offers insightful tips on how to start an olive oil business.
2. Gourmet Popcorn Kiosk
The Boy Scouts no longer own the gourmet popcorn niche.
The beauty of popcorn is that it is a relatively low-cost venture that travels easily.
With $1.5 billion in sales in the USA this year alone, ready-to-eat popcorn is a healthier alternative for people looking for a quick snack.
The popcorn market is exploding, which you can read about on this post.
You can open a cart or kiosk and determine the ideal district to set up 'shop for the day.'
Location is key.
Think about high-traffic areas such as:
Americans love cookies.
An often underrated dessert, if you have the baker's touch and an ability to whip up batches of decadent morsels, you may want to consider selling gourmet cookies.
This small business idea is better suited to an online or home enterprise until you build your client base and establish your brand.
Leverage social media and online platforms by offering customized, diet-specific, and special event cookie options.
Since these treats typically have a limited shelf life, your profit margins will be significantly higher if you go the made-to-order route in your baking business.
(and you won't end up with batches of stale confections.)
Check out this post for ideas on how to generate success with a gourmet cookie business.
4. Smoothie & Juice Bar
Who doesn't love a great smoothie?
It's no secret that Americans are making a concerted effort to be more health-conscious and incorporate more nutrient-dense foodstuffs to their diets.
Enter the smoothie and juice bar craze.
Worth an estimated $3 billion in the USA, the smoothie and juice industry has experienced consistent annual growth of 1.3% over the last five years, and the future continues to look promising.
A retail establishment is ideal for maximizing profit potential despite higher start-up costs than those of the kiosk or food truck style options.
There are also numerous franchise options available, which you can check out here.
Setting up shop in affluent areas where individuals have a higher disposable income is also worth considering.
This post offers additional insights and suggestions on how to start a smoothie and juice bar.
And is one best business to start in 2021.
5. Ice Cream Shoppe
Ice cream tastes delicious no matter what the season.
With a projected growth rate of 2.83% from 2020-2025, this $8 billion industry offers some of the top ROIs for entrepreneurs interested in the best small business ideas-hot new opportunities in 2021.
These days, an increased demand for innovative flavors and more plant-based or health-conscious options is really driving the market.
It's a very competitive space, but has the potential to reap huge rewards if done right.
The ice cream market is segmented into three distinct types as per this article which includes:
Whether you opt for a food truck style or parlor, you can make a considerable profit with ice cream.
This publication offers some additional tips on how to start an ice cream shop.
6. Sandwich Bar
Fresh-made-to-order and unique ingredient combinations are the keys to profitability in the sandwich industry, which saw an annual growth rate of 3.4% in 2019.
Consumers are looking for mobile options that mesh with both their dietary nuances and budget.
There are numerous franchise options available, but if you are interested in starting your own enterprise, do your homework.
Where will you set up shop?
What can you offer that your competitors don't?
How will you market your brand and generate excitement around your creations?
You can offer delivery options, workplace lunch deals, or incorporate daily specials to further capitalize on this best small business idea.
Here is an article outlining the steps to starting a sandwich shop.
7. Food Truck
Popular and versatile, food trucks offer venture capitalists like yourselves the opportunity to break into the insanely competitive restaurateur industry without the staggering costs associated with an actual sit-down establishment.
In 2020, the food truck market raked in revenues of around $1.1 billion.
Your level of culinary expertise and food style you enjoy preparing will be the drawing card for patrons.
Here are a few of the hot trends for food trucks in 2021:
Food Truck Trends 2021
This article offers additional suggestions and a more detailed analysis of each.
It comes down to marketing, establishing your brand, and offering a one-of-a-kind culinary experience that will set you apart from your competition.
But this small business to start checks all the boxes.
Check out this post for more information on how to start a food truck.
8. Meal Planning
We all know the scenario.
It's Tuesday night, you turn to your significant other and ask..."what do you want for dinner?"
They turn and stare at you blankly, shrug, and utter the dreaded words, "I don't know...what do you want?"
It's enough to drive someone crazy.
Meal planning is a chore for many who have grown tired of the age-old question and are looking for a better life.
Planning meals is a career that encompasses many skills such as nutrition knowledge, food costs, dietary specifications or restrictions, and culinary variety.
If you get excited about food, you might be the perfect choice for planning menus for individuals, restaurants, events, or corporate functions
Consider incorporating a website or mobile APP where people can purchase and download menu plans and supplemental grocery lists for the week to max out your profit potential with this small business idea.
This article gives a more detailed description of the skills needed as a meal planner.
9. Cafe & Tea Salon
Coffee bars and tea salons are no longer about just grabbing a cup of joe to-go.
The social atmosphere-ambiance and enticing aromas of freshly brewed beans or leaves keep American patrons coming back for more.
With revenue in the coffee industry worth $67, 663 million, and a CAGR of 8.7% between 2020-2025, tea is a worthy opponent.
Revenues in tea production in the USA for 2020 was $1.5 billion, so it really comes down to personal preference.
Offer variety and never-ever skimp on quality.
Equipment can be costly for both endeavors so consider rental or used options when first launching your venture.
10. Catering Company
Catering is one of the best small business ideas-hot new opportunities in 2021 because it offers the luxury of scalability and profitability.
The revenues of $13. 4 billion in 2020 sound pretty sweet, not to mention the fact that you have the option to launch your catering business from home until you build a client base and are generating sufficient revenue to warrant an industrial style kitchen.
In my book, that makes this one of the best small business ideas from home.
Americans are increasingly interested in where their food comes from and exploring new ingredients while embracing cultural trends.
Interactive and hands-on events have seen tremendous success when paired with unique experiences and uncompromising taste.
Despite being competitive, if you can hone in on your target market and offer a niche-specific style, there will always be room for a new player.
A few trendy catering suggestions include:
Infused Cocktails & CBD
Handheld Options & Inclusive Dietary choices
Sustainability & Farm-to-Table
This post offers additional information on the top catering trends for 2021.
If you love the social aspect and enjoy sharing your culinary creations with others, this article provides tips on starting a catering company.