In This Article:
What to Consider Before Starting Your Business
There are some considerations you'll want to take into account before going all in on entrepreneurship. From healthcare to an unsteady paycheck, below are some of the most important things to think about before starting your business.Health Insurance
Unfortunately for many entrepreneurs, health insurance is typically paid for by employers. Meaning when you start a business, you'll need to pay for your insurance out of pocket. While it might not seem like a big deal, insurance can cost you hundreds of dollars per month. Before starting your business you can check to see how much it could cost. Here's the good news: if your partner is employed by a company that offers insurance, he or she might be capable of supplying the insurance for your family.Work Hours
When starting your own business, you might need to work significantly more at first to get it off the ground. Where a traditional job you might work from 9-5 daily, with a business you might be working consistent 10 hour days and many weekends. While this might not be a problem for some people, some might find this unattractive.Pay and Profitability
The truth be told, many small businesses will fail within the first year of business. Some stats indicate that over 20% of businesses will fail within the first two years of operation. Entrepreneurship of any kind is not for those who are afraid of failure. During the first few years of business you might not make much money at all. In fact, you might need to invest more money to keep your venture afloat.
Best Business Ideas for Women
Below are some of my favorite business ideas for women to start. While not every business idea will work for everyone, there are sure to be some on the list that suit your interests!Start a Blog
Blogging is one of my favorite businesses to start for just about anyone because of how little you'll need to get started. While this is by no means a new business idea it can be a great start for someone just starting their entrepreneurship journey. Starting a blog can cost less than a couple of hundred dollars per year — making it one of the most affordable businesses to start. If you want to be your own boss — starting an online business is a perfect start. But with blogging, you’re not going to become rich overnight. In fact, many blogs will take 8+ months to start making real money (not to mention the large amount of work required). To start a blog, you’ll want to determine what niche to write about. There are many types of blogs to consider but ultimately you’ll want to choose something you’re passionate about so that you don’t give up when times get tough. For example, my blog is about personal finance, investing, and entrepreneurship. This is something I love working on, making it that much easier when I don’t feel like writing. After deciding what niche to blog in, you can choose a domain name for it. When picking a domain name, be sure to choose something relevant and memorable. This will help explain your blog to users who have no visited before. To purchase your domain name I recommend using Namecheap. Namecheap offers domain names for less than $10 a year.NameCheap is my favorite domain registrar to easily purchase your next domain name. They are extremely affordable with domains costing less than $9. Sign-up below!
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Create an Online Course Business
While you could include this business under blogging or an online business, I believe selling online courses can be a business of its own. With this business, you'll create a course to sell online. Your course can be about anything. For example, you might create a course on how to budget your money or a course on how to eat healthy on the go. The most difficult part of creating a course to sell is the work that it will take upfront. You'll need to dedicate some time developing your course and ensuring it is a quality product before you can begin selling it. Once your course is completed you can sell it online and promote it across the web via your website or blog, social media, or other channels. The income potential can be massive selling courses. Some entrepreneurs have made millions of dollars with this business. Check out the video below for more help selling an online course!
Start a Candle Business
If you are creative and like candles, starting a candle business can be an excellent business for women entrepreneurs. Starting a candle business is much more simple that you probably think. The supplies will cost less than a few hundred dollars to start. The most difficult part of a candle business is perfecting the scents you sell. This is basically a process of trial and error. You’ll need to invest a significant amount of time finding out which scents work and which don’t before you go all in with your candle business. When starting a candle making business, you can choose to sell your candles online through your own website or through e-commerce sites like Etsy, Amazon, or eBay. Another option is to sell your candles locally via farmers markets, flea markets, or a physical store. The profit margins on candles can be very lucrative making it one of the best business ideas for women.
Wedding Planning Business
Starting a wedding planning business is a great business idea for any women looking to build their own business. If you’ve been married before, this can make things much easier for you to start. This business idea is a service based business meaning you won’t need to carry inventory or purchase work space to operate your company. This is a perfect business idea for women with some extra time on their hands. It’s possible to build a wedding planning business while also working a full time job. As a wedding planner you’ll need to coordinate everything for the brides big day. This means working with caterers, venues, and many other companies to setup for wedding events. Working as a wedding planner can be stressful so you need to be extremely organized and a great communicator to be successful. How much money can you make? Ultimately it will depend on the number of clients you can get. It’s possible to charge a few thousand dollars for each client you work with.Start an Event Planning Business
Just like wedding planning, event planning can be a great business to start for many people. If you are organized, communicative, and enjoy the success of a fantastic event – event planning might be in your future. Just like working a wedding, event planning can be quite lucrative. You can make thousands of dollars planning events.Get 14 days of FREE access to hundreds of classes in design, business, and more. Boost your skills, boost your income. Get started below!
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Photography Business
A photography business is a good business idea for anyone with some extra time and photography skills. This is another service based business that you can start on a budget. While a nice digital camera can cost a few thousand dollars, this can be recouped with just one photo shoot. The most difficult part of owning a photography business is competing with many other photographers in your area. If you want to avoid this challenge, you could opt to sell stock photographs instead. This will come with it’s own set of challenges but there are also some benefits. Stock photography allows you to sell photos online for cash. It can be an excellent source of passive income for women looking to make some extra cash. To start a photography business I'd recommend investing in a high quality camera and lenses that can cost a few thousand dollars. Related: How to Sell Stock Photos and Make MoneyStart a Videography Business
Just like photography, videography can be very profitable and a great business idea for women to start making money. The amount of money you can make will vary depending on your skills and the type of video being shot. It can cost a few thousand dollars to get started, but this investment can quickly get recouped from your services.Painting Business
Starting a painting business is a great small business idea for anyone capable of painting. A painting business will require you to paint home interiors with a fresh coat of the homeowners favorite color. Starting a painting business is relatively easy. You'll need some basic supplies that can be purchased for less than a few hundred dollars. Many painters will charge per room they complete. Larger homes can cost over $20,000 to paint.
Baby Equipment Rental Business
Baby equipment is typically needed for only a few years before it goes to waste. Why not rent out your unused equipment for cash? This is one of the best business ideas for women to start making passive income without the hassle and capital requirements for some other businesses. You can list your items for rent on social media or through apps like the Nextdoor app to find new mothers searching for baby equipment. Additionally, you might consider starting a party rental business. Related: Best Rental Business IdeasSoap Making Business
Similar to a candle business, starting a soap making business can be a fun small business to own. With a soap business, you’ll need to purchase some supplies that will cost less than a few hundred dollars to get started. There are thousands of potential scents for your soaps to sell online or at a local farmers market. Soaps can sell for over $10 and can cost less than $1 to manufacture. This should give you a sense of the amount of money you can make.Pet Sitting Business
Pet sitting is one of the easiest businesses you can start. Because it is a service based business, there are no costs to get started other than a place to keep the animals. Pet sitting can be an excellent small business to make a steady income in your spare time. One reason I love pet sitting is because you might consider it passive income. It’s possible to work a full time job in addition to your small business. To start your pet sitting business, I recommend getting started with Rover. This platform will connect you directly to pet owners looking for people to watch over their animals while they are away. Sign up with Rover below to get started!Start Pet Sitting!
Dog Walking Business
Just like a pet sitting business, a dog walking business is an excellent small business idea for women. While many small business ideas will require some cost to get started, starting a dog walking business doesn’t. You can walk dogs on your own schedule, making it a perfect small business for those who are busy. To get started, it's a good idea to post your services on your social media accounts for friends and family to see. If this isn't bringing in new customers, you can also post your services on apps like Nextdoor to connect with neighbors. Depending on your location and the number of dogs you walk, it's possible to make over $30 per hour walking dogs.
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Babysitting Business
This is one of the best small business ideas for women who have some free time and enjoy watching over children. Babysitting (and other forms of childcare) are extremely profitable allowing you to make a large income from your small business. Depending on your location, you can make over $25 per hour babysitting. This can be a great business for many teens. Related: How to Make an Extra $500 a MonthDog Treat Business
If you're looking to start your own home based business, a dog treat business could be a great start. With this business, you can bake dog treats in your own home and sell them via an online store or at local farmers markets. Many dog owners are looking for healthier more natural alternatives to mainstream dog treats that are sold at big box stores. Opening a dog treat business also has many avenues for expansion. You could start selling dog food, toys, or other animal products to suit your customers wants.
Laundry Business
If you want to start a small business that has some serious income potential, starting a laundry business might be right for you. There are several types of laundry businesses you could consider. You could start by working with a few clients a week and do laundry from your home. If you're looking for something with a larger income potential you might consider opening a laundromat business. This will require much more capital to get started, but it can be a great source of residual income.Drop Shipping Business
Many online business ideas will require you to put in extraordinary work before you can start making money. But with a drop shipping business, most of the work is done for you. You’ll need to open an online shop for users to purchase items but after the purchase is complete, the rest of the work is done for you. When starting a drop shipping business you’ll need to search for manufacturers that offer drop shipping services and the costs associated with it. Because there is less work for you to do, sometimes the profit margins can be minimal.
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Print on Demand Business
If you’re looking for a business with flexibility and income potential, a print on demand business might be right for you. By selling products through an online store you'll gain access to customers worldwide. The business model for a print on demand business is easy to understand. Essentially you will sell a variety of clothing articles that can be customized to your customers desires. For example, you could opt to sell hooded sweatshirts with a variety of print options. You can purchase your inventory through wholesalers to cut down on your costs, but you will have to carry inventory which some business owners may not appreciate.Start a Personal Training Business
Starting a business as a personal trainer can be a fun way to make extra money on the side. With this business model you’ll get paid to train individuals to reach their physique goals. While this is traditionally an in person business, many personal trainers have shifted their focus to online clients. By working over video chat, trainers have more flexibility and they can work with a much larger range of clients instead of only those located in their region.Want to Make $150 With Paid Focus Groups? 💵
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Rental Property Business
Real estate can be a great way to build your income and make money. By starting a rental property business you can earn residual income each month that builds over time. There are a few types of real estate you might consider: residential real estate or commercial real estate. Within these types, there are several niches. For example, in residential real estate you might choose to purchase a single family home, or a short term rental. Starting a rental property business will require some capital and work in the beginning phases. You'll need to renovate your properties and determine how to find and vet potential tenants. The key to operating rental properties is defining your processes to become more efficient. Rental properties can generate copious amounts of income each month and the profits can be considerable. By investing in real estate you'll make money via two methods: capital appreciation and the rent payments you make. Capital appreciation is the increase in value of your property over time. For example, if you purchase a single family home for $150,000, in 10 years it could be worth over $200,000. This means you would net $50,000 in capital appreciation. This is in addition to the rent payments you collect each month.Bookkeeping & Accounting Business
If you're searching for something that can pay good money – a bookkeeping or accounting business might be worth considering. Before starting this business, you'll need to have a background in bookkeeping or accounting but you can find certifications online to help you get started. Once you obtain the skills you need, you can offer your services to local small businesses who might need someone to keep their books clean. If you are organized, analytical, and detail-oriented, starting a bookkeeping business could be a great small business idea for any women.Looking to Make Some Extra Cash? 💰
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Digital Marketing Agency
Are you skilled at managing ads on social media platforms? Maybe building websites? Small businesses are always looking for marketers to complete work for them. You can work as a social media manager, web designer, or other another marketing related service provider like conducting market research. Opening a digital marketing agency can be a profitable venture, given you have the marketing and sales experience to gain new clients. Because attracting new clients to your business can be expensive, having a network of connections can be an easier method to increasing your workload. Once your agency starts to gain steam, you can hire other marketing professionals to complete the work for you. Digital marketing work can be very lucrative. Some websites can cost hundreds of thousands of dollars to design and develop making it a worthwhile venture.
Interior Design Business
If you're an interior designer, start an interior design business can be a great method to reach financial freedom for women. When working as an interior designer you'll be tasked with organizing spaces with decor to make them look spectacular. Interior design services can expand beyond just residential homes. You can also work with commercial properties to help them create a superior working environment for employees. Interior design rates vary widely depending on your location and experience.Catering Business
Starting a catering business can be a fun and profitable business venture for any women looking to become an entrepreneur. With a catering business, your focus will be cooking large amounts of food for large events. While this might seem simple, sometimes it can be more difficult than you'd think. However, with the difficulty comes profitability. Many catering businesses can make extraordinary sums of money and they don't require a massive capital investment to get started. You can often start a catering business for under $10,000 or $20,000 which isn't too expensive given the income potential.Start a Massage Therapy Business
Opening a massage therapy business can be a great idea for women looking to start making money outside of a day job. With this business, you can offer massages to clients in their own homes or in a business setting. You'll need to invest in some basic supplies like massage oils, lotions, and sheets but beyond that, the sky's the limit. You can advertise your services on search engines or social media to get started and lean on word of mouth marketing to help your business grow. It's common to charge an hourly rate for your services ranging from $50 to over $100 per hour in some cases.
Start a Bakery
A bakery can be one of the top small business ideas for women who like to cook and bake. While starting a traditional bakery can be somewhat costly, you can sell your baked good via an online store to save money. You can make your baked goods at home to get started before expanding your operations to a full size bakery once your business grows.Looking to make some extra cash in your free time? Sign up with Swagbucks to get $5 instantly and make money playing games, taking surveys, and more!
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Social Media Influencer Business
If you have a strong following on social media, why not make some money with it? Starting a social media influencer business can be extremely lucrative. Social media influencers can make extraordinary sums of money just for posting once across their channels. If you don't have a large following you can choose to work with other influencers and companies searching for these people to profit. By working as the middleman you can make large amount of money without having to do much work.
Graphic Design Business
If you have a creative side, starting a graphic design business can be an excellent business idea for women to start. Graphic design will require you to have a unique skillset that thrives on detail. By offering your design services to local small businesses, you can make a good income doing something you love. Rates for graphic design vary depending on your skills and experience. Some of the top graphic design agencies can make well over 7 figures for their work.Start a Video Editing Business
Video content is certainly all the rage, but it can be a large amount of work to edit videos. That's where you come in! With video editing, you can offer your services to businesses or individuals who need help editing their videos. You'll need some basic software and a computer powerful enough to handle video editing but beyond that, you're good to go. The amount of money you can make will depend on your skillset and the amount of work you're able to take on. You can typically charge anywhere from $50 to $200 per hour for your services.Start a Music Lesson Business
If you are a musician or know how to play an instrument, you can start a music lesson business. You can offer lessons in-person or online and typically charge around $30 per hour for your services. This can be a great way to make money on the side while doing something you love.Proofreading Business
Do you have an eye for detail and are capable of finding even the smallest grammatical errors? Starting a proofreading business might can be the best option for you. If you can pickup enough clients, you can consider hiring a few other proofreaders to join your business and expand your operations. Depending on the size of your business, it's possible to make well over 6 figures.Start a Life Coach Business
Working as a life coach can be one of the top small business ideas for women who want to help others get the maximum enjoyment out of their lives. As a life coach you'll work to help individuals get organized, find time for enjoyment, and live an all around better life. You'll need to be a superior listener who is capable of being solutions based and offering advice for people searching for a better life. Your income will vary depending on your experience and offerings.
Teach Swimming Lessons
Teaching swimming lessons can be a great business for women as it's a skill that is always in demand. You can offer your services to parents who want their children to learn how to swim or for adults who want to be able to swim in case of an emergency or for fitness. You'll need some basic supplies like a pool and swimming floats but you can typically get started for a few hundred dollars. You'll also need to get certified to give CPR and lifeguarding classes for safety reasons but these are are easy to obtain by attending a class.Teach Cooking Lessons
Offering cooking lessons can be a fun way to make money on the side. You can offer lessons in-person or online and typically charge around $50 per hour for your services. You'll need some basic supplies like pots, pans, and knives but you can typically get started for a few hundred dollars.Start a Makeup Business
If you have a passion for makeup, starting a makeup business makes sense for many women. You can offer your services to brides, for special events, or as a personal makeup artist. The amount of money you can make will depend on your skillset and the amount of work you're able to take on. You can typically charge anywhere from $50 to $200 per hour for your services.Open a Hair Styling Business
Hair stylists can make great money on the side by starting their own hair styling business. To open this business, you'll need to be licensed in your state and have some experience in hair styling as well as a few pieces of equipment. You can typically charge anywhere from $50 to $200 per client for your services but part of your income will likely come from tips so be sure to leave your clients happy and satisfied.
Start a Floral Business
Florists can make a lot of money on the side by starting their own floral business. You'll need some basic supplies like flowers, vases, and ribbon but you can typically get started for a few hundred dollars. You'll also need to be creative and have a good eye for design. Your clients will likely be businesses or individuals who need arrangements for special events like weddings, parties, or funerals. You can typically charge anywhere from $30 to over $200 per arrangement you craft, making it a lucrative business for any women.Start a Woodworking Business
Woodworking isn't known to be a female business, but that doesn't mean it can't be. If you have a strong passion for woodworking and creating furniture and crafts, this can be a great business to start. You'll need some basic supplies like wood, tools, and clamps but many of the supplies you might already have. Your clients will likely be businesses or individuals who need furniture or crafts made for their home or office. It's possible to charge a thousands of dollars to custom pieces of furniture making it a very profitable business to start.Start an App Development Business
Are you a software engineer or developer who loves to code? Starting a mobile app business can be a great way to start making money on the side. You can develop apps for businesses or for individuals who want a unique app made just for them. The amount of money you can make will depend on the complexity of the app, but you can typically charge anywhere from $5,000 to over $100,000 per app. I love this business idea because it costs virtually nothing to get started. As long as you have a computer and some free time, you can get started!
Open a Yoga Business
Yoga instructors can make great money by starting a yoga business on the side. You'll need some basic supplies like mats and blocks but you can typically get started for under $100. Teaching yoga classes can be a very lucrative business and you can charge anywhere from $10 to $100 per class.Start a Home Staging Business
Home staging is the process of getting a home prepared to sell by styling the home with furniture and decor. Homes that are staged can sell for much more than an empty house and the process only takes a few days. You won't need any special tools or equipment to start this business, but you will need to be creative and have a good eye for design. You can charge anywhere from a few hundred dollars to a few thousand dollars for your services.Translation Services Business
Are you bilingual? Offering translation services can be a great business idea for women entrepreneurs to start making money. With this service business, you can work with businesses or individuals who need translations for documents, websites, or even speeches. Your rates will vary depending on the language you are translating and the complexity of the translation, but you can typically charge anywhere from $25 to $200 per hour.Open an eBay Reselling Business
Opening an eBay store and reselling items can be a fun side hustle turned full-time business. You'll need to find items to sell and have some basic supplies like boxes and packing materials. You can typically get started for a few hundred dollars and you can keep your costs low by sourcing items from garage sales and thrift stores. The amount of money you can make will depend on the number of items you can sell and your inventory and shipping costs.Open a Counseling Business
If you're a therapist or psychologist and want to grow your income, opening a counseling business is a great option for many women entrepreneurs. You'll need to find a place you can rent to conduct your therapy or you can offer online only services to save money. Depending on your credentials, you can charge anywhere from $30 to over $150 per hour for your services.Start a Real Estate Brokerage
If you're a real estate agent with over 2 years of experience, opening a real estate brokerage can be a fast way to increase your income as a realtor. With this business, you'll need to have a place to operate your business and you'll need to hire a team of real estate agents to help you, but it's worth while. For every property that is sold through your team, you'll earn a commission of the sale. This is usually around 1.5% of the homes price.Offer Resume Writing Services
If you have experience working in HR or understand how to write resumes that land job offers, offering these services to others can be an excellent way to start making money. The amount you can charge for resume writing services will vary depending on your experience and the type of resume you are writing, but you can typically charge anywhere from $50 to over $200 per resume.
Open a Travel Agency
Love to travel? Why not get paid to help others plan their dream vacations? With a travel agency, you'll need to have some basic supplies like brochures and a website, but you can typically get started for a few hundred dollars. You'll make money through commissions from the travel companies you work with and by charging a consultation fee for your services.Start a Landscaping Business
While landscaping might not be for everyone, there's money to be made in this business if you're good at it. You'll need to have some basic tools and equipment, which can cost a few thousand dollars depending on the services you offer but this can quickly get recouped through your work. You can typically charge anywhere from $30 to $100 per hour for your services, and if you're good at marketing your business and offer quality work.Start a Landscape Design Service
If you like landscaping but don't like the physical work, starting a landscape design business could be a good option for some women entrepreneurs. With this business, instead of doing all of the work yourself, you'll outline a plan of what the landscaping will look like and others will complete the work. You can make a few hundred to a few thousand dollars depending on the size of the job.Start a Day Care
Day cares are some of the most profitable businesses that many women entrepreneurs can start. You'll need to have a place to operate your day care and you'll need to be licensed in most states, but other than that, it's a relatively easy business to start. You can charge between $50 and $150 per day for your services, and with a good marketing plan, you can easily fill up your spots.Start an Exam Prep Business
The test prep industry is worth almost $2 billion annually, making it a lucrative business to get into. As an exam prep business, you'll offer services to help students prepare for standardized tests. This can include one-on-one tutoring, online courses, or even group classes. You can charge anywhere from $25 to $100 per hour for your services, and with a good marketing strategy, you can easily find students who need your help.Thrift Shop Business
Opening a thrift store is a great way to make money while helping others save money. As a thrift shop owner, you'll need to have a good eye for finding valuable items at garage sales and thrift stores and then reselling them for a profit. It's difficult to predict how much money you can make with this business as it will vary greatly depending on what you sell, but you can typically expect to make a few thousand dollars per month.Open a Boutique Shop
Retail stores can be a challenging endeavor, but if you have a good eye for fashion and know how to run a business, opening your own boutique could be a great option. As a boutique owner, you'll need to find unique and stylish items to sell in your store, and you'll also need to be good at marketing your business.Dog Training Business
If you love animals another business for women entrepreneurs is a dog training. With dog training, you'll help pet owners train their dogs to obey basic commands. This can be a very lucrative business, with some trainers charging over $100 per hour for their services. As with most businesses, you'll need to have a good marketing strategy to find customers who are willing to pay for your services. You can use social media to help promote your business and rely on others to spread the word for you.IT Consulting Business
IT is a lucrative field and there's a lot of money to be made in consulting. As an IT consultant, you'll help businesses with their computer needs, from setting up networks to repairing computers. You can typically charge anywhere from $75 to $200 per hour for your services, making this a very profitable business.Law Consulting Business
If you're a lawyer, starting your own law consulting business can be a great way to make money while helping others. As a consultant, you'll help clients with various legal issues that they may be facing. This can include reviewing contracts, helping with estate planning, or even providing legal advice. You can charge anywhere from $200 to over $1,000 per hour for your services – which is a great income for many people. By hiring additional lawyers for your team, you can expand your income and become even more profitable.Tutoring Business
Starting a tutoring business is a great home based business idea for women to start because of how easy it can be to get started. You can opt to do online tutoring or tutoring in person depending on your goals. With online tutoring you can make money online by working directly with students over video chat. Educational services can be extremely profitable because parents are always looking for methods to further the knowledge of their children. With a tutoring business you can make well over 6 figures teaching students. Related: How Much Should I Charge for Tutoring?
Cleaning Business
Do you like to clean and appreciate the transformation of a clean room? A cleaning business can be one of the top small business ideas for women to start if they have a little money and want to make money fast. With a cleaning business you'll need to purchase some cleaning supplies and a vacuum to get started that can cost less than $500 total. Next you can promote your services on local classifieds like Craigslist or post your services on your social media platforms to increase exposure. Pricing for cleaning services is typically done by the size of the room and the types of services needed. Some cleaning business can make over 6 figures.MobileXpression is a great way to earn free money when you install software in the background of your mobile device. With over 2 million users – MobileXpression is a trusted way to make money fast!
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Start a Pool Cleaning Business
Another business idea perfect for women is pool cleaning. With pool cleaning, you can offer a one-time service or a monthly contract, depending on what the customer wants. You'll need some basic supplies like a vacuum, net, and brush but most of what you'll need can be purchased for a few hundred dollars. Start by cleaning a few pools in your area to get started and word will spread quickly. Check out the video below for more info about starting a pool cleaning business!Business Coaching Business
Just like a life coaching business, a business coaching business can be a great business idea for many women to help other businesses grow their revenues and gain focus on what matters most. Before starting a business coaching business, you'll want to have experience growing businesses so that you can pitch others on your successes. The amount of money you can make with business coaching will vary depending on the type and size of business you are working with.Open a Travel Agency
Are you a seasoned traveler and like exploring the world? Why not get paid to help others do the same? Starting a travel agency can be a great small business to start if you have a strong sense of direction and are extremely organized. Travel agencies will often partner with establishments to get lower prices for their clients. You may also earn a commission whenever a client books via your services. Travel agencies can be a great wya to make good money as a women.Freelance Writing Business
Freelance writing can be a great way to make extra money. Like many other service based businesses this can be an extremely profitable business idea because there are not costs to get started. Freelance writers can charge over $1 per word written — making for a decent income. As a freelance writer you’ll work your own hours completing projects for website owners and companies looking for written content. Freelance writing can be an excellent small business for women to start with little investment required. You can earn over 6 figures from your venture.Open a Restaurant
If you’re okay with working in a stressful environment, opening a restaurant can be one of the most profitable business ideas for women to start. When starting a food service business if any kind, you’ll want to consider the costs to get started. You’ll need to obtain many permits and licenses to start selling food and drinks, but restaurants can be extremely profitable. Restaurants can make over 7 figures (sometimes even 8!) if built correctly.Open a Coffee Shop
If you want something slightly slower paced than a restaurant, a coffee shop could be a great alternative to working in the food industry. A coffee shop will require a larger investment than many other businesses but it can be a fun and profitable venture for many women.
Open a Daycare
Starting a daycare business is one of the best small business ideas for women because of how much money they can make. With this business, you’ll need to invest a nice amount of money to get started, but it can be well worth it. Some of the top daycares can have revenues exceeding 7 figures. If you don’t have the capital required to start a daycare you might consider an in home childcare business. Once you’ve built up a nice savings, you can then branch out your services to a full daycare. When opening a daycare you’ll need to consider the costs of any furniture and supplies, rent or mortgage, and the cost of labor. These can amount to thousands of dollars each month.Open a Financial Planning Business
For those with financial skills starting a financial planning business can be one of the best business ideas for women. You’ll need to have a strong knowledge of financial markets and how to manage money in order to be a successful financial planner. When working as a financial planner you can make money in a few ways. Some people will charge an hourly rate to help clients get their finances in check. Others will charge a fee to manage a clients portfolio that is typically a percentage of their investments. For example, if your client has $1 million to manage, you might charge a 2% management fee which is equal to $20,000 per year. Financial planning goes beyond managing investments, it can also mean helping individuals and families budget their money correctly. This could mean browsing through financial transactions to find areas for improvement.Start managing your wealth with Personal Capital. Track your net worth and much more with ease. Register below to get started!
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Stock Trading Business
While some people might not consider this a business, it can certainly be a great way to build your passive income streams and grow your wealth. Stock trading involves purchasing stocks and selling them for a profit when the time is right. By using the stock market to make money, you'll want to consider the risks involved.With Acorns you can start investing with as little as $5 by automatically rounding up spare change. Plus, you'll get $10 completely free when you use the link below to get started!
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Start a Virtual Assistant Business
Virtual assistants can make good money and they are a great option for those looking to work their own schedule. With this online business you’ll be tasked with writing emails, posting on social media accounts, making website updates, and various other tasks that can be completed without any specific skills. As a virtual assistant you can succeed by offering more advanced services like content writing, web development, or other marketing services to boost your earnings.Tax Prep Business
Another business idea for any accountants or CPAs is a tax prep business. With this business, you'll get paid to complete tax returns for individuals and businesses needing your assistance. The amount of money you can make is very lucrative. For a simple tax return, you can charge over $100 and it might take less than 1 hour to complete.
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Ways to Become More Profitable
When starting a business, becoming profitable is your number one priority. This can be much more difficult than you think. Below I'll explore various ways to increase profits for your own businesses.Understand Marketing
Marketing your business is essential to its growth. By having a sound knowledge of marketing tactics, you can boost exposure to your small business and increase sales. There are many different forms of marketing you can use. From digital marketing to direct mail advertising, you'll want tor research and test which strategies work for your business.Perfect Operations
As you learn more about your business, you'll become more efficient and therefore, more profitable. You'll want to define as many processes as possible and aim to find the most efficient ways to perform tasks. Not only will mastering your operations benefit you by becoming more efficient, it will also make onboarding new employees much easier and effective.Become a Better Salesperson
Selling your services and products is one of the top methods to grow your sales and revenue. Ultimately, you'll need to close the sale if you want to grow your revenue. That means becoming a better salesperson should be a priority.
How to Start a Business Step by Step
Below are the steps to take to start your business idea.Gather Your Thoughts
The first step in starting any business is deciding which business to start. There are many business ideas for women looking to build their own empire so you'll want to consider your interests before deciding.Write a Business Plan
A business plan is an essential step in forming your business to better understand how your company will operate and become profitable. Business plans can be as lengthy as needed (some being over 70 pages!) but they don't always need to be this complex. Some smaller businesses, like a lawn care business might only need a simple business plan that is no longer than 10 pages. This guide by the SBA explains how to craft a great business plan.Obtain Funding for Your Business
If you haven't already, securing the money to fund your business is the next step. While some businesses may not need much money at all, some will require formal presentations to investors to get the funding they need to start.Choose Your Structure
After obtaining funding, you'll need to select a business structure to keep your taxes organized and business functioning. You can learn more about business structures here.Determine a Name for Your Business
While this step might seem simple, picking a name for your business is one of the most critical steps in forming your company. You'll want to pick a name that is memorable and relates to your services.Register Your Business
After landing on a name for your business, you'll need to register it with federal, state, and local institutions.Obtain Tax IDs
Once your businesses registration is approved, you should receive a federal and state tax ID to use come tax season.Apply for Any Licenses or Permits
If needed, now is the time to apply for any licenses or permits required to operate your business.Open a Business Bank Account
The last step before starting your business is opening a business bank account. This will help you to keep your personal and business finances separate.Start Your Operations
Finally it's time to open the doors to your business and begin any marketing that you have planned.How Much Money Can a Business Make?
One of the main reasons many people start a business is because of the limitless income potential. Many business ideas can make a significant income while allowing you to work on your own schedule. As a business owner you’ll need to take full responsibility for growing your business and increasing your income. You cannot rely on others to do it for you. There is no limit to the amount of money you can make with a small business. Some businesses are capable of making billions of dollars every year.How Long Does it Take to Start a Business?
Depending on the complexity of your business, many small business ideas can be started within a couple of weeks. For more complex businesses, it can take a few months to gather funding, planning, and the execution of starting your own business.How Many Businesses Can I Have?
There is no limit on the number of businesses you can have. While some people might aim to create multiple businesses, I recommend starting with one, growing it, before proceeding to start another business. These people, known as serial entrepreneurs, might pursue several business opportunities at the same time. If you are an experienced entrepreneur, there's nothing wrong with building multiple businesses simultaneously if it makes sense.Final Thoughts on the Best Business Ideas for Women
There are many business ideas for women to start. Whether you choose to open a candle making business or a freelance writing business, there's sure to be something that suits your interests and skills. Are you looking to start a business? I'd love to hear your ideas in the comments below!
Forrest is a personal finance, entrepreneurship, and investing expert dedicated to helping others obtain life long wealth.
He has a Bachelor's degree in business and has been featured in many popular publications including Forbes, Business Insider, Bankrate, CNET Money, and many others.
To learn more about Forrest, visit the About Us Page for more info.
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