6 Young People’s Business Ideas With The Latest Small Capital – After studying some of the one million business owners who use Facebook, we found that founder types belong to one of five personality types. who are you
Welcome, Stargazer! This month, we are opening our Zodiac community to some (really) new founding faces. In an ever-changing world, the future is even more uncertain for today’s young people. Seriously, 2020 give us a break! What will the job market look like for courses in 2021 and beyond?
School can’t teach you a lot, and many young people supplement learning from books by developing valuable real-world skills through their side interests. Some even make money doing it.
Starting a business can be a daunting prospect, especially for young people who may not have access to significant financial resources. However, with the right idea and some creativity, it is possible to start a successful business with a small amount of capital. In this article, we will explore six business ideas for young people that require only a small amount of capital.
1. Social Media Marketing Agency
Social media marketing is a rapidly growing industry, and many businesses are looking for experts to help them navigate the complex world of social media. A social media marketing agency is a business that specializes in managing social media accounts for businesses, including creating content, engaging with followers, and analyzing metrics. With only a laptop, internet connection, and some creativity, young people can start their own social media marketing agency with very little capital.
Example: The Social Savior
The Social Savior is a social media marketing agency that was founded by a young entrepreneur. With only a laptop and some social media expertise, the founder was able to start the business and grow it into a successful enterprise. The Social Savior now manages social media accounts for businesses across a range of industries, generating significant revenue.
2. Online Store
An online store is a business that sells products through an e-commerce platform. With the rise of e-commerce, starting an online store has become easier than ever before. Young people can start their own online store with very little capital, by creating a website or using an existing e-commerce platform.
Example: Hey Jude
Hey Jude is an online store that was founded by two young entrepreneurs. With only a small amount of capital, they were able to start the business and sell unique, handpicked products from around the world. The online store quickly gained popularity and has now become a successful business, generating significant revenue.
3. Dropshipping Business
Dropshipping is a business model where the entrepreneur does not hold any inventory but instead works with a supplier to fulfill orders. This means that the entrepreneur does not need to invest in inventory or storage space, making it a great business idea for young people with limited capital.
Oberlo is a dropshipping business that was founded by a young entrepreneur. With only a small amount of capital, the founder was able to start the business and work with suppliers to fulfill orders. Oberlo now provides dropshipping services to thousands of businesses around the world, generating significant revenue.
4. Personal Styling Service
A personal styling service is a business that helps clients choose clothing and accessories that suit their personal style and body type. This can be done through in-person consultations or online services. With a passion for fashion and some basic styling skills, young people can start their own personal styling service with very little capital.
Example: Stitch Fix
Stitch Fix is a personal styling service that was founded by a young entrepreneur. With a love of fashion and some basic styling skills, the founder was able to start the business and grow it into a successful enterprise. Stitch Fix now provides personal styling services to millions of clients around the world, generating significant revenue.
5. Food Truck
A food truck is a mobile restaurant that can be set up in a range of locations, such as at festivals, markets, and events. With a love of cooking and some basic culinary skills, young people can start their own food truck business with relatively little capital.
Example: Kogi BBQ
Kogi BBQ is a food truck business that was founded by a young entrepreneur. With a passion for Korean and Mexican cuisine and some basic culinary skills, the founder was able to start the business and grow it into a successful enterprise. Kogi BBQ now operates several food trucks and has become a staple in the Los Angeles food scene.
6. Mobile App Development
Mobile app development is a rapidly growing industry, and there is a high demand for skilled app developers. Young people with some programming skills can start their own mobile app development business with very little capital.
Snapchat is a mobile app that was founded by a group of young entrepreneurs. With a passion for technology and some programming skills, they were able to create the app and launch it to the public. Snapchat has now become one of the most popular social media apps in the world, generating significant revenue.
Starting a business as a young person can be challenging, but it is possible with the right idea and some creativity. The six business ideas outlined in this article require only a small amount of capital, making them accessible to young people with limited financial resources. With hard work and determination, these business ideas have the potential to become successful enterprises.
Frequently Asked Questions (FAQ)
1. Can young people really start a business with small capital?
Yes, it is possible for young people to start a business with small capital. The key is to find a business idea that requires minimal start-up costs and to be creative in finding ways to reduce expenses.
2. Do I need prior experience to start a business as a young person?
While prior experience can be helpful, it is not necessary to start a business as a young person. Many successful entrepreneurs started their businesses with little to no prior experience in their chosen field.
3. How can I come up with a business idea as a young person?
There are several ways to come up with a business idea as a young person. You can identify a problem or need in your community and develop a solution for it. You can also leverage your hobbies or interests to start a business in a related field.
4. How can I fund my business as a young person?
There are several ways to fund a business as a young person. You can seek funding from friends and family, apply for grants or loans, or start with a small amount of personal savings and reinvest profits back into the business.
5. Is it risky to start a business as a young person?
Starting a business is always associated with some level of risk. However, with careful planning and execution, it is possible to mitigate these risks and increase the chances of success. It is important to do thorough research and seek advice from experienced entrepreneurs before starting a business.