There are over 32 million small businesses in the United States, with 1.31 million new business applications filed in the first quarter of 2023 alone. That means, in addition to having the necessary skills to succeed, you need to ensure you stand out from the competition. Choosing a unique business idea is one way you can give your operation a competitive edge. Unusual businesses typically have less competition, while still enough demand to be profitable.
Start a food truck
If you’re passionate about food, starting a food truck can be a rewarding career move. It’s also a lucrative endeavor, with the industry set to grow from $2854.8 billion in 2022 to $3025.5 billion in 2023. Opening a food truck is also more affordable than opening a regular restaurant. However, you’ll have to take a number of startup costs into account, including the food truck itself, a truck wrap, and point-of-sale (POS) system.
Moreover, you’ll also need to budget for marketing and website design, as well as licenses and permits (the requirements of which vary from state to state). Aside from culinary talent and healthy financial habits, opening a food truck also requires excellent customer service skills; it involves direct contact with customers, and you’ll need to prepare consistently high-quality food with fast turnaround times in order to build a loyal customer base.
Selling gold is a profitable endeavor. In fact, the industry’s already worth over $10 billion with demand only set to soar. Above all, succeeding in this industry requires developing a solid reputation. That means you need to know how to source quality gold from trusted suppliers, and properly test it – this is particularly important if you’re purchasing from auctions or pawn shops. X-ray fluorescence (XRF) tests, for example, are the most reliable method; they can authenticate metal in under ten seconds.
You also need to be able to accurately estimate the value of your gold. If you invest in American eagle gold, for instance, you’ll know each coin contains ½ ounce of gold. Multiplying the current gold spot price by the coin’s pure gold content is a reliable way to calculate its true value.
Start a niche cleaning services business
Cleaning services are always in high demand – around 10% of all households in the United States on average use professional cleaning services to clean their homes, for instance. The more complex or convoluted the cleaning job is, the more likely people are to use a professional rather than doing it themselves.
Niching down is key to standing out in this industry, with carpet cleaning, dryer vent cleaning, or even stroller cleaning being potentially lucrative options. Whichever niche you choose, professional cleaning demands excellent attention to detail – you’ll need to do as thorough a job as possible, as well as handle cleaning products safely. For instance, you need to recognize when a chemical isn’t suitable for use on certain surfaces to therefore prevent property damage and physical injury.
Unique business ideas can help your entrepreneurial endeavors stand out from the competition. Whether you launch a food truck, sell gold, or start a cleaning business, a great idea combined with the right skills will set your business up for best chances of success.