Introduction – New Small Business Ideas for 2023
Are you looking to start a new small business in 2023? The new year brings fresh opportunities, especially if you start a small business in one of the hottest up-and-coming industries.
With low startup costs, flexibility, and unlimited earning potential, launching your own small business can be an incredibly rewarding endeavor. But first, you need the right business idea.
Here are 14 of the best new small business opportunities to consider for 2023:
Rideshare driving for companies like Uber and Lyft provides an easy, flexible way to earn extra income. Once approved, drivers use their own vehicles to provide rides via the company’s mobile app and take home the bulk of fares.
With millions of people relying on rideshares, demand is high. You can drive part-time or full-time on your own schedule. While pay varies, drivers can make $15-$25 per hour before expenses. Minimal start costs include a qualifying vehicle, insurance, background check, and smartphone. This makes rideshare driving one of the simplest businesses to start in 2023.
Example: Sarah B. launched her rideshare driving business part-time while her kids were at school. She drives weekday mornings and afternoons and some weekend nights, grossing $1,200-$1,500 a month working 15-20 hours a week. Sarah loves the flexibility and that she can take time off whenever she wants.
Small Business – Remote Consultant
More companies are hiring remote consultants in 2023 to gain expertise without adding staff. Offer specialized skills like marketing, tech support, HR, bookkeeping, or project management on a contract basis.
Example: Analyst Gloria D. launched her consulting business focusing on search engine optimization services for small law firms. She developed a strong client base through referrals and averages $7,000 per month working less than 20 hours a week. Her remote role allows her to set her own schedule.
You can start with no overhead beyond a computer and internet access. A website, marketing materials, and credentials like certifications can help attract clients. Hourly consulting rates range from $50-$150+ depending on your niche.
Small Business – Subscription Box Business
Subscription box companies curate specialized packages of goods that are mailed to subscribers monthly. Popular themes include beauty, food, kids, and pets. This booming industry is projected to hit $39 billion by 2025 in North America alone.
Example: Megan R. tapped into the subscription box trend by launching a monthly stationery subscription service. For $15 a month, customers receive a themed box of paper goods, office supplies and decor she sources wholesale. Her startup costs were under $2,000 and she reached $5,000 in monthly revenue within a year.
While inventory and fulfillment costs are involved, you can start a niche subscription box for under $1,000 if you begin small and use simple packaging. Targeting subscribers through social media ads helps gain members quickly.
Small Business – Virtual Assistant
A virtual assistant handles administrative, technical, or creative tasks for clients remotely. As more businesses go virtual, demand for reliable virtual assistants is rising. Typical duties include email management, data entry, writing, social media marketing, and scheduling.
You can start this business from home with just a computer and the Internet. The keys are strong time management, communication, and organizational skills. Virtual assistants make $15-$50 per hour based on their skill level and experience.
Example: Miranda W. worked full-time while building her virtual assistant business at night. Within two years she had 20 regular clients and was making over $5,000 a month working 30 hours a week. She now runs her business full-time and has a team of VAs.
Small Business – Freelance Writer
Websites, publications, and businesses hire freelance writers to create high-quality blogs, websites, social media, marketing, and other content. Refining your writing skills and niche is essential. You can start a writing side business with no overhead and scale it by raising your rates and adding clients.
Example: Kim L. worked in publishing before starting her freelance writing business. She began writing blog posts for $100-200 each and now commands rates up to $1 per word writing for national magazines and websites. She pulls in $7,000 per month working 25 hours a week.
Many successful freelance writers make over $50,000 annually. As your portfolio continues to grow, you can introduce variations and changes. Expect to put in time upfront to hone your skills and find paying writing jobs.
Small Business – Handyman Service
Offering handyman services appeals to homeowners and landlords looking to make repairs and small upgrades without the hassle of finding contractors. Services can include painting, basic plumbing and electrical, carpentry, landscaping, and more.
Example: Alex T. runs his handyman business locally using Thumbtack to generate leads. He charges $40-$65 per hour and makes $55,000 annually working 25-30 hours per week. His start costs included tools, a truck, and insurance. Alex's loyal customers provide steady work through word-of-mouth referrals.
Ensure you have the skills and tools needed in your niche. A reliable work truck, insurance, and quality website featuring your experience will convey professionalism. Expect to earn $30-$70 per hour once established.
Small Business – Social Media Manager
Nearly every business today needs social media help and strategy. As a social media manager, you handle clients’ social media planning, posting, graphics, ads, and analytics. Most interactions can be handled remotely via email and project management tools. This is an in-demand niche with serious growth potential.
Example: After managing her company's social media for years, Monica B. launched her own social media consulting business. She took a social media certification course, invested in business tools and resources, and used LinkedIn to find clients. Her packages start at $1,500 per month and she pulls in over $7,000 monthly.
Expect to spend time and money on social media training, resources, and tools of your trade. Once you have some experience, highlight your successes on your website and LinkedIn to attract ideal clients.
Small Business – Physical Products Business
Thanks to print-on-demand technology, it’s easier than ever to start a small business selling customized physical products like t-shirts, mugs, phone cases, and posters. You design the products, set them up for sale on your online store, and a service prints and fulfills orders as they come in.
Example: Janis R. sells feminist-themed t-shirts, mugs, and bags through her print-on-demand store, taking home $3-$5 per item sold. She spends less than 1 hour per day on the business but earns $2,500 per month through organic traffic and word of mouth. Her only startup costs were her logo design, domain, and website.
While designing products requires creativity, this type of business has very low overhead and effort once set up. Expect to spend time on marketing and SEO to drive traffic to your store. Popular platforms like CafePress, Zazzle, and Redbubble make it quick and easy to get started.
Small Business – Resume Writer
With today’s competitive job market, there is a high demand for professional resume writers who can showcase clients’ experience and help them land interviews. This business has low start costs and high earning potential.
Example: Samantha R. honed her skills as a resume writer while working in HR. She invested $500 to build her website and certify as a Career Management Professional. Samantha now earns $5,000 to $7,000 monthly writing 5-10 resumes per week at $250-$400 each. She expects to double her income within a year.
You’ll need exceptional writing skills, knowledge of recruitment practices, and resume optimization strategies. Consider getting certified in resume writing and career coaching for credibility. Promote your services through local job search support groups and your professional network.
Small Business -Pet Sitting/Dog Walking
Pet owners want the best care for their furry friends and are willing to pay for it. Starting a pet sitting or dog walking service allows you to make money caring for pets in your area. You can start with word-of-mouth marketing before expanding your clientele.
Example: Elena D. launched her mobile dog walking business part-time while working her full-time job. She now has 10 regular dog-walking clients who pay $15 per 30-minute walk. She makes $400 a week working just 12-15 hours with very low overhead costs. Elena is building her website to attract more clients and transition into pet sitting full-time.
To build trust, highlight your pet care experience and credentials like pet first aid certification. Seek bonding and liability insurance for protection. Offer competitive rates but don’t undercharge. Provide exceptional service including scheduling ease and quick response times to gain client loyalty.
Small Business – Buy and Resell Online
The internet has opened up unlimited possibilities for buying low and selling high. Whether you sell products on eBay, Amazon, Etsy, or your own e-commerce site, reselling is a scalable business you can start from home with minimal costs. The key is finding profitable products.
Example: Jeremy F. started reselling used books on Amazon using inventory sourced from library sales and thrift stores, turning $1 books into $15+ sales. He now makes $4,000+ in monthly profits working 10 hours a week. His initial costs included a barcode scanner and inventory storage shelves.
Try retail arbitrage by buying clearance or marked-down items and reselling them for market value. Building a loyal following on eBay or Etsy by selling specialized vintage goods is another approach. Dedicate time to researching your niche products and stay organized with bookkeeping and inventory.
Small Business – Sewing Business
Offer sewing, tailoring, embroidery, monogramming, or other specialty sewing services. Many people still value quality handmade items. Customers include clothing shops needing alterations, households wanting custom home goods or gifts, events requiring monogramming, and more.
Example: Christy B. started her embroidery business from home, purchasing a commercial embroidery machine for $8,000. She creates custom shirts, bags, hats and more for locals. Christy recouped her startup costs within 6 months and earns $4,000 monthly working 20 hours a week. She leverages Instagram and Facebook to promote her business.
Consider your expertise and interests when choosing sewing niche services. Shop for affordable used commercial equipment to control startup costs. Take great product photos and promote custom offerings through social media and digital marketing.
Small Business – Graphic Design Service
Websites, social media, product packaging, marketing materials, and more all require visual elements. Businesses are eager to outsource graphic design work. With some software, a logo, and samples, you can start your own freelance graphic design business from home.
Example: Derek S. has been doing freelance graphic design as a side business for 9 years. He started with just a computer, Adobe Creative Suite and word of mouth referrals. Today Derek earns $60,000+ annually working 25 hours a week, serving small business clients he finds through LinkedIn and his website.
Focus on mastering in-demand skills like logo design, branding boards, infographic creation, packaging design, etc. Invest in design software like Adobe CC. Have free contract templates drawn up. Showcase your best work on social media and build a portfolio website to generate leads.
Small Business – Franchise Owner
While starting a franchise costs more upfront, it comes with an established brand and business model to help streamline operations. Most franchises provide extensive training and support. Consider your experience and interests when exploring potential franchises, along with costs.
Example: Jasmine O. wanted to start a fitness business but opted for a franchise after learning a major gym chain was expanding in her area. She purchased a $150,000 CrossFit gym franchise using retirement savings and a small business loan. Jasmine earns $7,500 monthly running the gym, which is projected to become profitable within 3 years.
Buying into an established franchise brand like McDonalds, Subway or UPS Store can give you the highest chances of success. Do thorough research before investing since franchise costs vary greatly. For a potentially lower investment, explore newer or smaller franchising companies in promising niches.
Starting a Hot New Small Business in 2023
If you have the drive and dedication required, launching your own small business can be extremely rewarding in 2023. With creativity and proper planning, low startup costs are possible. Determine your niche, polish your skills, and deliver exceptional offerings.
Which of these new small business ideas resonates with you most? The opportunities are endless for aspiring entrepreneurs who find untapped niches or better ways of serving customers. With passion and perseverance, you could be running your own thriving business this time next year.