business plan for small business enterprise

Learn more about choosing the right structure for your business from the Small Business Administration.

6. Create a business bank account.

Once you have a legally formed business and have been issued an Employer Identification Number (EIN), open a bank account specifically for your business. Having a business bank account is essential for keeping your personal and business finances separate which can help you gain an accurate picture of your business’s cash flow and financial health.

Additionally, keeping your personal and business finances separate makes bookkeeping and tax preparation easier.

Many banks offer business checking and savings accounts. Business checking accounts typically do not have a limit on the number of transactions that can take place, and issue a debit card that can be used for making business purchases. However, these checking accounts do not accrue interest.

Business savings accounts typically earn interest over time but have a limited number of transactions that can occur each month. When you’re just starting out, look for a business bank account that does not have a minimum balance requirement so you are not penalized for having low funds as you work to build your business.

7. Determine if your business idea works well from home.

Ask yourself whether your business idea will work well from home. Some businesses simply aren’t suited to be based from home. If you want to run a dog boarding center but live in an apartment without a backyard, you might want to consider a dog walking business instead.

8. Set up an office.

If your business idea is well-suited for being run from home, it’s still important you have a designated workspace. While a home office might not be possible, consider setting aside a corner in your living room or putting a desk in your bedroom for a space that inspires you and creates the conditions for success.

Need a more professional space? If you conduct client-facing work requiring you to be on video calls, no one wants to see your rumpled sheets in the background. Check out local coworking spaces for memberships that earn you access to conference rooms, desk space, and more.

9. Get to work!

You’ve put in the hard work, but I’ve got bad news — it’s only going to get harder. But most entrepreneurs will agree that the payoff of being your own boss, making your own hours, and working on projects that you’re passionate about will pay dividends for the rest of your life.

What are the types of small businesses?

The types of small business structures are sole proprietorships, partnerships, limited liability companies (LLCs), and corporations.

• Sole Proprietorship — The simplest type of business structure is a sole proprietorship, which is also the easiest to start. As a sole proprietor, you are personally responsible for the business's liabilities and profits, and you have complete control over your business. If you are a solopreneur, you are automatically considered a sole proprietor.
• Partnership — A partnership is a business model involving two or more individuals who agree to share the business‘s profits and liabilities. Each partner contributes to the business and shares the risks and rewards. It’s essential to have a partnership agreement that defines each partner's roles and responsibilities to ensure clarity and prevent potential misunderstandings.
• Limited Liability Company (LLC) — An LLC, or limited liability company, is a common option for small businesses because it protects its owners by separating personal assets from the company's liabilities. To form an LLC, the business owner must file the required paperwork with the state.
• Corporation — A corporation is an independent legal entity distinct from its owners. It provides limited liability protection to its shareholders, who are not held personally accountable for the company's debts. Corporations have formal requirements and often raise capital by issuing stocks or shares.

Which business type is best?

The best business type is a limited liability company (LLC). Operating as an LLC means that your personal assets are separate from your business assets. If your business goes bankrupt, your personal holdings won’t be affected. That said, it’s also one of the costlier types, requiring a fee paid to the state.

The easiest business type to start is a sole proprietorship. The main downside is that there’s no differentiation between you and your business.

It's crucial to seek advice from legal or accounting professionals to determine the best business structure based on your unique needs and objectives. Each structure has advantages, legal requirements, tax implications, and flexibility considerations.

How do I create a business idea?

To create a business idea, determine your skill set, work preferences, startup budget, and available resources. It’s important to strike the right balance between what you can feasibly offer and what you can feasibly afford in the short and long term.

We recommend starting with your skill set so that you can easily determine the niche in which you can effectively compete. For instance, if you have ample experience as a writer, you might consider starting a freelance writing business. But if you know you’d prefer to work with clients face-to-face, you might choose to start a ghostwriting business instead. That’s why it’s so important to take your work preferences into account, as well.

After that, take a look at your budget and determine the type of business you can start based on the resources at your disposal. For instance, you might not be able to afford a physical office or location, so a location-based business will likely not be a good fit. In that case, starting an online business is your best option.

What resources or tools can I use to refine and validate my business ideas during the brainstorming process?

Online market research tools like Google Trends, Keyword Planner, and SEMrush can provide insights into market demand, competition, and keyword trends related to your business niche. Industry reports and market analyses from reputable sources such as IBISWorld, Gartner, Statista, and industry-specific publications can offer valuable data and trends to inform your decision-making. Ensure you know the industry risk before embarking on your small business venture.

→ Download Now: Market Research Kit [Free Download]

Additionally, joining entrepreneurial communities, forums, and social media groups can provide opportunities to seek feedback, network with like-minded people, and gain insights from experienced entrepreneurs. Finally, consider conducting surveys or interviews with potential customers to gather feedback and validate your business concept before investing significant time and resources.

What are some of the most successful small businesses?

Every small business has the potential to be successful and profitable, provided it’s backed by a strong product-market fit and a robust business plan . These two elements are essential. Maybe postnatal services are one of the most successful small businesses to launch, but if you live in an area with declining population or a large elderly population, then that small business idea won’t yield a high return on investment.

Think carefully about the market where you’re launching your business, and you’ll be more than likely to see lasting success.

What are the top growing small businesses?

How can I protect the copyright of my creations?

Though copyright protection is automatic when you create something original, taking additional steps to protect your work is a good idea. Here are a few essential tips:

• Include copyright notices — Adding copyright notices on your creative works (e.g., “Copyright © [Year] [Your Business Name]”) helps deter potential infringers and informs others that your work is protected.
• Register your work — Registering your work with the appropriate copyright office can provide additional legal advantages and may be necessary in certain situations to enforce your rights in court.
• Consider licensing your work — Licensing allows you to permit others to use your work under specific conditions while still retaining your ownership rights. You can create licenses that determine how others can use your creations and even charge licensing fees.

Getting Started With Your Next Small Business Venture

Selecting a small business idea to work on is a personal decision. Money is important, but you’ll need more motivation than that to keep going.

Bounce ideas off your friends and family until you reach the perfect idea that works for your schedule, fulfills your life’s passion, and makes financial sense.

Don’t be afraid to ask for help throughout this process — and remember to have a little fun while you’re putting in the work.

Editor's note: This post was originally published in August 2020 and has been updated for comprehensiveness.

Don't forget to share this post!

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63 Small Business Ideas to Start in 2024 We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

By Eve Gumpel Edited by Brittany Robins Mar 15, 2024

Opinions expressed by Entrepreneur contributors are their own.

Many people dream of starting their own business. Running an enterprise in your home, garage or on the go means you can take more control over your professional goals, set more ambitious financial targets and achieve a more desirable work-life balance.

But what if you're ready to start a business but don't know what type of services to provide? You've come to the right place if you need profitable business ideas. Below, find a detailed breakdown of 63 small business ideas — from financial services to physical labor and creative contracting — to help you chart a path forward.

Related: Want to Start a Simple Business That Helps the Planet? After 'One Night's Worth of Research,' He Started an Eco-Friendly Gig And Now Makes $200K a Year

Some of these opportunities require more experience or credentials than others. Some can be started from home for cheap, while others require dedicated office space and capital investment. To ensure you choose the right business venture for yourself, it's crucial to consider a few factors before you pursue a sole proprietorship.

How do you determine the best small business idea?

Consider your current skill set and credentials..

For instance, if you already have a CPA license, venturing out as a freelance accountant (as detailed below) would be a natural avenue to explore. If you have experience as a writer, you might consider editorial services, or if you've spent years working in the food and beverage industry, you could explore catering or becoming a personal chef.

As you explore your options, consider if you'll need to secure special licenses (for example, hairstylists and electricians) or if the work requires additional education and credentialing.

Determine the goals of your small business.

For some people, starting a small business means leaving their full-time gig and committing to the new endeavor. For others, a part-time business provides meaningful supplemental income and can be managed in addition to other work. Consider how much money you're hoping to earn from the business, how many clients or customers you'll need to be profitable and how many hours you'll need to work each week to make it feasible.

Think about capital costs, as well as growth: Will launching the business require the purchase of equipment or other serious financial investment? Do you plan to hire employees? Will you expand to multiple locations? At the outset, it's a good idea to create a formal business plan .

Study your location and identify what's most feasible there.

Finding customers and clients is essential to any small business, so conduct a market analysis before you open shop. For instance, your boat cleaning business will be significantly more successful if you live near a coast, and your side hustle as an interpreter will likely be more profitable if you live in a diverse community.

You should also research what businesses already exist. Is there a dearth of dependable landscapers in your market? Is there a glut of professional photographers in your town? Answering these questions will help you determine the viability of your idea.

Decide if you want to run a business online or in person.

The digital age has created many opportunities for entrepreneurs to run a business from behind a laptop, meaning their enterprise can go wherever they choose. That's not for everyone, though. If you want to run a brick-and-mortar shop at the heart of your community or are more comfortable interacting with customers and clients in person, launch a business that will allow you to achieve those goals.

Related: TV Shows All Entrepreneurs Should Be Watching

Financial and Business Service Ideas

1. accounting and tax services.

Experience, training or licensing may be needed

At some point, most people seek the advice of a good bookkeeper or accountant, whether to prepare for tax season, get advice for starting a business or simply plan for the future. If you're already a Certified Public Accountant, you can earn good money by going out on your own.

If you're not already trained as an accountant or licensed by the state you live in, you'll want to explore the recommended educational prerequisites and plan to obtain the appropriate credentials. Most tax preparation franchises offer courses, seminars and training to get you ready to work for them.

You'll also want to think about the types of services you'll provide:

• Do you want to simply do bookkeeping for small businesses?
• Or do you also want to prepare balance sheets, income statements and other financial reports?

Other specializations can include tax accounting — a huge area of potential work.

2. Business Consulting

Has expansion possibilities

With a consulting business, you can work with a wide range of businesses on a variety of business problems. You could help new entities get off the ground by creating business plans , conducting market research and organizing a management structure.

Depending on your level of experience, you could also help large organizations through difficult transitions and periods of restructuring or outline a successful exit strategy by providing executive-level advice and guidance on an array of matters core to the business' mission.

A good calendar app will likely come in handy as time-tracking is crucial to accurate billing.

3. Financial Planning and Advising

Financial advisors help millions of Americans save for things like retirement and college funds while also helping them grow their wealth through various investments. If your goal is to become a Certified Financial Planner (CFP), you'll have to complete coursework and ultimately pass an exam. This will earn you a certificate that shows potential clients you have expertise and credibility. Once you're certified, working as an independent financial advisor can provide a steady income.

4. Buying a Franchise

Some business experience needed

The benefits of buying a franchise are many: You'll have a proven business model, the market research is already done and the brand typically provides support to franchisees as part of the purchase. Plus, many franchises can be launched for less than $10,000, including:

• Dream Vacations
• Cruise Planners
• Jazzercise Inc.

To learn more about how to buy and launch a franchise, read Entrepreneur's basics of buying a franchise business .

Related: Considering franchise ownership? Get started now to find your personalized list of franchises that match your lifestyle, interests and budget.

5. Notary Public Services

In most states, a notary public is a state officer who is authorized to witness and attest to the legalities of certain documents by stamping a seal and signing. Most states require that you pass an exam and a background check, but it costs very little to become a notary. You can generate significant income from notary work by charging fees for services such as loan-signing notarizations.

Manual Labor Business Ideas

6. general construction.

If you have experience working in construction, you may be ready to start your own handyman business and take on projects of your own. From building a fence to hanging drywall or framing an addition, many people need skilled laborers who can do quality work on time.

If you have a network of skilled people whose work you trust, you could also subcontract some of the construction and spend more time finding clients and growing your business. Check with your state to determine what permits and licenses you need to get started.

7. Landscaping

Put your green thumb to work. Most people want their yards tidied up in the spring, their lawns mowed in the summer, their leaves removed in the fall, their shrubs trimmed and their trees cared for. Your landscaping business could also offer irrigation services, including the installation and repair of sprinkler lines, as well as blowing them out before winter.

Garden work, such as planting annuals and perennials and vegetable garden preparation, can also be a lucrative business. There is plenty to do in the yard that has nothing to do with plants: stone wall restoration, fencing, artificial turf installation and more.

Read This: Start Your Own Lawn Care or Landscaping Business by The Staff of Entrepreneur Media and Cheryl Kimball | Amazon | eBooks.com | Barnes & Noble

8. House Painting

Regardless of the season, you can make good money with a residential painting business — inside and out. Before you begin offering services, you'll want to work with professional painters and learn the basics:

• Masking a house
• Laying a drop cloth
• Choosing the appropriate paints and brushes for various indoor and outdoor climates

You'll also need to invest in some basic equipment — ladders, brushes, trays and more. Once you're set up, you can begin marketing your services to customers through a variety of online platforms with relatively low upfront costs.

9. Carpentry

Woodworking is in high demand these days, and if you're a talented carpenter, there are a variety of ways you can make money. Residential projects like cabinets, tables and shelves are often high on homeowners' lists and typically pay well. You can also make good money with boutique projects like gallery frames, hand-carved figurines and other work. In some cases, you can work for general contractors to frame doorways and support larger construction projects.

10. Electrical Work

Becoming an electrician is not easy — you must take classes, work as an apprentice and pass licensing exams before you can start your own business — but there's no shortage of work for electricians. Master electricians are always in demand for small and large projects, and you'll have the ability to hire apprentices, build a team and scale your business offerings.

11. Moving Services

When people move, they often want to hire someone to do the heavy lifting for them — literally. You can focus your work on local moves across town or to the town next door. As your business ramps up, you may also offer large-scale, long-distance moving services if you have the personnel and equipment to accommodate it. Advertise around town to convince the locals to let you take care of their move, provide excellent customer service and watch your business grow.

Read This: Start Your Own Freelance Writing Business and More by Entrepreneur Press and George Sheldon | Amazon | eBooks.com | Barnes & Noble

Creative Work Business Ideas

12. content and editorial contracting.

Almost every business or organization needs good writers and editors, and if you have the skills to go out on your own, you'll likely find a bevy of work. From copyediting to developmental editing, ghostwriting and digital content production, freelance writers and editors can find clients in a host of industries, including marketing, communications, journalism and book publishing. To get started, you'll need to create a portfolio of work that exemplifies your skills for writing, content creation and/or editing–this will help you build relationships with potential clients.

13. Graphic Design

Have an eye for design? Logos, fliers, newsletters, information sheets and advertisements are just a few of the types of design materials that businesses hire independent designers to create for them. Websites and online advertising need graphic design services as well. You can offer clients a suite of services to take their project from beginning to end, including coordinating with content creators and print shops and getting products ready to mail and present.

Read This: Start Your Own Graphic Design Business by Entrepreneur Press and George Sheldon | Amazon | eBooks.com | Barnes & Noble

14. Web Development

Many in-person and online courses exist to teach you the language of coding and website creation. With some specialized training, you can master the basics of building a website from scratch — a service you can offer to many small businesses, whether they're looking for an ecommerce platform or just a landing page to describe their services. You may also find clients who will hire you to not only design their website but manage their online presence on a day-to-day basis.

15. Marketing or Public Relations Agency

Every business has a story to tell, but not everyone has the know-how to get their message into the world. With your marketing or public relations agency, you can help businesses identify new audiences, craft messages that resonate with new customers and produce newsletters and other products — potentially winning the media's interest along the way. You'll want experience working in this field before you set out on your own, as potential clients will want to hire someone who understands the world of marketing and public relations.

Read This: Start Your Own Consulting Business by Entrepreneur Press and Eileen F. Sandlin | Amazon | eBooks.com | Barnes & Noble

16. Photography

Independent photographers can run successful businesses with one or more specialties. You can offer:

• Portraits or senior pictures
• Wedding photography
• Editorial shots for newspapers or magazines

To get your photography business off the ground, you'll want to create an online portfolio of your work so potential clients can see your style and inquire with you. Being active on social media platforms is also a great strategy for growing your brand.

Read This: Start Your Own Photography Business by Entrepreneur Press and Charlene Davis | Amazon | eBooks.com | Barnes & Noble

17. Videography

If you can do quality work behind a camera and edit footage well, there are plenty of opportunities for videography work, from creating brand videos for organizations to filming events, weddings and interviews. Your clients could include outdoor brands, small nonprofits and big corporations, but you'll want to have some filming and editing training and experience creating quality content before you launch your business.

18. Audio Editing

Audio storytelling is a growing industry, with countless podcasts being streamed daily by listeners all over the world. If you have experience recording and editing audio, you could shop your services to media brands, businesses or individuals who might want to launch their own podcasts. And who knows? Maybe you can use your skills to launch and monetize a podcast of your own.

19. Social Media Management

Some experience needed

Although many businesses want to enhance their social media presence, they often don't have the skills or internal bandwidth to grow their following and post engaging content.

If you're skilled at brainstorming content plans and writing snappy copy — and you already spend many hours on social media — it might be worth launching your own social media marketing enterprise. Clients might have you create a content marketing plan, monitor and reply to comments and report growth statistics monthly.

If making art is already your hobby, you might be able to turn it into a profitable business. You can sell your work on sites like Etsy, enter your work in shows or ink contracts with clients who need illustrators or custom art as part of their brand assets. Other potential art business offerings include creating portraits, painting murals and teaching art classes.

21. Music Lessons

Turn down the volume and listen up: Your music skills could be in high demand. There are a few ways to approach running your own music business. You can be mobile and teach in your clients' homes or run it out of your own space (a separate building or designated area of your home).

Some people teach music lessons online by recording lessons on YouTube and offering subscriptions. To get started, try connecting with local music schools for part-time gigs. This will allow you to see if you like it and help you build a reputation with potential clients.

Related: 10 Essential Tips For a Long and Lucrative Music Career

Repair and Maintenance Business Ideas

22. mechanic shop.

If you've spent years working on your vehicles and know your way around an engine, it could be time to offer your services to customers. Depending on where you live, you may not need to obtain a mechanics license, but taking some formal classes and earning a certification will help build trust with customers.

Many shops require licensing before hiring mechanics, so if you're looking to get some experience before launching your own business, you'll likely want to take some classes.

23. Appliance Repair

Every household has several appliances — from refrigerators to dishwashers to dryers — and appliances tend to break down, so appliance repair is one of the best business ideas for any area. You can work on your own or contract with appliance stores to cover their warranty service calls — or some of each.

Start slow and build your customer base on recommendations and referrals from work well done. You could also develop relationships with contractors to be the go-to person to install appliances in newly constructed houses.

24. Bicycle Repair

Almost every bike needs a good tune-up. This business tends to be seasonal in many parts of the country, but you can find ways around that. If you have the space, you could offer to store people's bicycles during the winter after you do a tune-up and any needed repairs on them.

And if you keep Saturday shop hours, you could make your shop a meeting place for cycling enthusiasts. If you live in a bike-oriented place, you may be able to purchase and sell used bikes, making some money as a retailer on top of your repair business.

25. Boat Cleaning

Boats hauled out of the water for the winter or even just for mid-season repairs will need their hulls cleaned. Depending on the type of boat, it might also be time for a major cleaning of everything else—the decks, the sleeping quarters, the head and the holds.

Start by advertising on Nextdoor, Craigslist or Facebook Marketplace, reaching out to homes with boats sitting in their yard, or marketing your services to a local marina.

26. Car Cleaning & Detailing

Making a car shine inside and out isn't easy work, which is why many people don't want to do it themselves. Plus, because drive-thru car washes don't clean every corner, there's a market for car cleaning and detailing across the country. With a little investment in materials (soaps, scrubs, hoses, vacuums, etc.), you could make house calls or rent a garage space where customers can drop off their vehicles.

27. Electronics Repair

Whether it's a laptop, a television, a tablet or a specialized radio, if you're handy with circuit boards, you could run a profitable business for customers whose electronics are on the fritz. You'll want to run the business out of your home or a storefront so people can bring equipment directly to you. Not unlike other repair shops, your business may evolve to the point where you're buying used electronics and selling them to your customers.

28. Furniture Restoration

If you have a knack for sewing and woodwork, upholstery and restoration might be a natural business idea. Many books and online videos can be helpful as you learn the trade, but nothing will be as helpful as finding some discarded furniture and tearing it apart before restuffing and constructing it.

Often, furniture in need of upholstering will also require repairs—sanding, staining, or reinforcing damaged areas. Much of this work is relatively minor (you don't have to be a carpenter) and can add significant upsell value to your services.

Read This: Spruce: A Step-by-Step Guide to Upholstery and Design by Amanda Brown | Amazon | eBooks.com | Barnes & Noble

29. Rug Cleaning

Most people don't have the time or space to do more for their rugs than a basic vacuum. As a rug cleaner, you will need to learn how to work with all kinds of carpet fabrics, from synthetic to wool. You should also decide whether you will take on valuable antique rugs and family heirlooms. If you do, you should consider getting specialized training in handling and properly cleaning these carpets.

Learn how to get tough stains and odors out of carpets — such as dog and cat odors — and customers will seek your services out. You'll need a dedicated space for people to drop off their rugs, so plan for that as you set up your business.

30. Jewelry Making and Repair

There are many different ways of getting into the jewelry business and different types of materials you can work with. Manipulating metal will require specific tools since you need to heat the metal and use tools to cut and engrave, but you'll likely also work with glass, gemstones, and maybe even wood. The wider the variety of materials you can work with, , the broader the range of repair services you can provide to your customers, including stone polishing and setting.

Read This: Start Your Own Fashion Accessories Business by Entrepreneur Press and Eileen F. Sandlin | Amazon | eBooks.com | Barnes & Noble

Property and Real Estate Business Ideas

31. real estate.

Every community needs trusted real estate agents. Whether your clients are buying or selling property — or just seeking real estate advice — there are many opportunities to launch your own business. But, first, you'll need to become a licensed agent, and the requirements vary by state. Typically, you'll have to complete coursework and pass an exam. Once you've done that, you can start offering services and building your business from scratch.

32. Property Management

Many people manage properties as a side hustle. Maybe you have a vacation home that you use for short-term rentals or perhaps you have an additional property with a long-term lease. If you want to dive in full-time, you can acquire multiple properties and be a full-time landlord. In the case of rental units, your job will be to make sure the property is running smoothly, ensure tenants are paying rent and honoring their lease terms, and be available in case of any issues. You can also contract with individual property owners to serve as their property manager, lightening their load by taking care of the landlord duties for them.

33. Cleaning Service

No experience needed

There are many directions you can take this small business idea. If you want to work during hours when no one else does, you can focus your cleaning business on office clients. You can provide cleaning services to retail businesses and keep your customers within one or two blocks. Restaurants need daily thorough cleaning and can also be a great source of steady clients. But, if you're more interested in house cleaning, you can start with a small number of clients, and new customers will likely emerge via word of mouth.

Read This: Start Your Own Cleaning Service by Entrepreneur Press and Jacquelyn Lynn | Amazon | eBooks.com | Barnes & Noble

34. Professional Organizing

Spatial planning is not everyone's strength. If it's yours, you can make good money as a professional organizer for individuals and businesses. For individuals, you can choose either to do the organizing work — maybe a kids' playroom or a cluttered garage — or consult with the homeowner to help them better organize themselves.

Businesses, too, don't always know how to organize their office and maximize the efficiency of their spaces. You can consult on ways to better arrange furniture, desks, conference areas, stockrooms and more.

35. Home Inspection

To be a successful inspector, first establish contacts with real estate agents who can recommend your services to customers. Home inspection can be an incredibly competitive market so you will need to constantly update your education and knowledge. For instance, Builders are constantly introducing new materials. If you only know about wood decks, you will not know how to inspect and assess the new materials on the market, such as composites that look like real wood. Also, stay apprised of all safety updates regarding materials and problems with things like off-gassing, carbon monoxide production and other chemical hazards.

Read This: Start Your Own Home Inspection Service by Entrepreneur Press | Amazon | eBooks.com | Barnes & Noble

36. Home Energy Auditing

Homeowners are always looking for ways to save on their utility bills. With some specialized training, you can help by conducting an audit of their homes and calculating how much they might save on heating, cooling and electrical use by implementing new technology or upgraded appliances.

To grow your business, you can work directly with vendors to refer upgrades or gain a certification and learn how to do electrical work like installing solar panels and heat pumps yourself.

Read This: Toward a Zero Energy Home: A Complete Guide to Energy Self-Sufficiency at Home by David Johnston and Scott Gibson | Amazon | Barnes & Noble

37. Interior Decorating and Design

If you have an eye for design, market your interior decorating talents to building contractors. People purchasing new homes can often be overwhelmed with choices and possibilities. Create questionnaires for each major element and room in the house:

• How will the homeowner use the home?
• Are there children?

Depending on how involved your client wants to be, you can also help them purchase furniture, art, plants and more. You can also work with businesses, such as hotels and restaurants, to design their spaces.

Planning, Training and Coaching Business Ideas

38. event planning.

There are a variety of ways to launch an event-planning business, particularly if you have a professional background in planning large gatherings. First, you'll want to hone in on your niche, some of which include:

• Private parties at people's homes
• Kids birthday parties
• Corporate events

If you work with businesses, you must visit every potential event location you plan to work with. Tour each site and learn what's available, including capacity, AV equipment, chairs and tables and more. If you can nail a big party as an event planner, new clients will seek you out.

Read This: Start Your Own Event Planning Business by The Staff at Entrepreneur Media and Cheryl Kimball | Amazon | eBooks.com | Barnes & Noble

39. Wedding Planning

You will need to be up-to-date on wedding trends, dress styles, popular colors — and almost every other facet of the wedding industry. Offer your customers an à la carte menu of services, from helping them choose flowers, a wedding gown and bridesmaid dresses to picking the venue and hiring the caterer.

Before you open your business, visit area wedding shops and see what kinds of services they provide. Wedding planners need to know every business detail to assure couples that they are in the right hands.

40. Vacation Planning

Some people take great joy in planning their vacations. However, if you're an experienced traveler and know how to save people money, you can still be very much in demand as a vacation planner for individuals or large groups. You can coordinate hotel and flight bookings, arrange transportation, provide daily itineraries and help your clients re-book in case of unforeseen travel crises. There's typically no required certification for this work, but there are courses you can take that will put you and your clients at ease.

41. Private Coaching

Active children and adults alike often seek athletic instruction beyond what they've learned in group formats. If you're highly skilled in an athletic discipline, you can help take athletes to the next level.

Common business options include:

• Baseball pitching

In terms of qualifications, you should already have some coaching experience and be able to offer high-level instruction. Depending on the community where you're coaching, you may need to have a license to run your business or a certification to use public amenities, like tennis courts, for profit.

42. Personal Training

Many people are looking to improve their overall fitness, and working with a personal trainer is one way to achieve their goals. To get started, you'll need to obtain a certification — especially if you're working with a gym — which will help your clients trust that you know what you're doing and can help them avoid injury. You can advertise your business at gyms and other public places, and having a strong social media and web presence is always helpful.

43. Nutritional Advising

With so many different dieting trends and supplements in the world, a nutritionist can help people better understand the landscape of healthy eating and living. Although nutritionists don't offer medical nutritional counseling or treat illnesses (as a dietitian does), there is still a wide market for the work.

First, determine what kind of nutrition service you want to provide — pediatric, sports, holistic or something else — and then work toward credentialing. At a minimum, you'll need to research the laws for becoming certified in your state and begin taking prerequisite courses to help you become licensed.

44. Life Coaching

Life coaching has exploded in popularity over the past decade, as many people are looking to recreate or realign their personal goals. Life coaches do not provide clinical mental healthcare (a therapist does), but they help people create and use tools to move closer to their ultimate goals. To become a life coach, you'll first want to determine what kind of client you're looking for:

• People with professional hurdles to clear
• Folks struggling with romantic endeavors
• Busy entrepreneurs looking to reclaim work/life balance

You don't technically need certification, though many practitioners take courses and have credentials.

45. Career Coaching

Career coaches help people navigate professional transitions, establish business goals and make the most of their skills. As a career coach, you might help people write cover letters and resumes, find new opportunities, establish business plans and success strategies or hone their niche in a crowded market.

Your background and specialty will determine what clientele you should work with:

• Recent graduates
• People looking to start second careers
• Someone who has been out of the workforce for years

Although there is no standard license or certification, many career coaches have earned credentials or successful careers of their own.

46. Tutoring

If you have a background in education, you can make significant supplemental income — or launch a full-fledged business — by offering tutoring services. Start by choosing the subject area that best fits your strengths. For instance, if you're a professional writer or English teacher, you could offer essay writing help. If you're skilled in math and sciences, you could help high schoolers with algebra or precalculus.

You don't have to be a licensed teacher to offer tutoring services, but being a subject matter expert will make it easier to sell your services to potential customers.

Hospitality Business Ideas

47. private chef service.

If you have experience working in restaurants or other areas of the food and beverage industry, you could tap into the growing private chef market. Whether potential customers are looking to accommodate specific dietary needs or an intimate event with friends, a positive experience should lead to client testimonials and referrals to help you grow your business.

You'll want to make sure you have proper training — either via work experience or formal courses — because your reputation is on the line with every dish you create.

48. Bed and Breakfast / Airbnb

Do you have a room that has its own bathroom and is private from the rest of the living space? Or do you own a property that could function as a small lodging establishment near a tourist area, sports stadium or large venue? Maybe you own a charming home in the country. If so, turn your property into a bed and breakfast or Airbnb rental and welcome guests into a home away from home.

Read This: Start Your Own Bed and Breakfast by Entrepreneur Press and Cheryl Kimball | Amazon | eBooks.com | Barnes & Noble

49. Catering

Are you experienced with managing large-scale food operations? Consider branching out into catering to serve large events like weddings and corporate banquets. You'll need to make sure you have strong project- and personnel-management skills, because catering requires you to lead a team and deliver exceptional service for clients. You'll also need to obtain the proper licensing from the state in which you operate, similar to the requirements for opening a restaurant.

50. Food Truck

Do you want to deliver a specific type of cuisine to the masses without running an entire restaurant? Build (or purchase) a food truck and take your product on the go. You'll have to obtain appropriate operating licenses, but once you've checked those boxes, you can start working at festivals, breweries and other community events. As your reputation grows, you'll likely book business by word-of-mouth.

51. Brewery

Have you always wanted to run your own brewery? Maybe you've already been experimenting with brewing at home.? If so, opening a brewery could be an option. But first, you'll want to pursue training in brewing sciences and work as an apprentice to someone who knows the craft well. From there, you'll need to conduct a competitive market analysis to make sure there's room for another brewery in your area.

Other Small Business Ideas

52. dog walking.

If you have a flexible schedule and can make multiple house calls, you can generate significant revenue as a dog walker. Dog walkers take pooches out for their daily constitutional one or more times a day, individually or in small groups.

In some cities, like New York, dog walking alone can be a booming business. But, it's more common for dog walkers to offer additional services, including playing with and feeding pets, bringing in newspapers and mail and turning lights on and off.

Read This: Start Your Own Pet Business and More by Entrepreneur Press and Eileen F. Sandlin | Amazon | eBooks.com | Barnes & Noble

53. Pet Sitting or Boarding

Most people leave behind their pets when they travel. Although big daycare shelters exist, you can make decent money by offering a more personal pet-sitting service — either by staying at someone's house while they're out of town or by hosting their animal at your place.

Starting a pet-sitting service requires almost nothing in startup costs. Your list of credentials should probably include personal pet ownership — if not currently, at least in the past — and other pet-related experience, including referrals from pet owners whose pets you have taken care of before.

Read This: Start Your Own Pet Sitting Business and More by Entrepreneur Press and Cheryl Kimball | Amazon | eBooks.com | Barnes & Noble

54. Pet Grooming

Most animals need a bath or fresh cut from time to time. Most pet owners aren't equipped to do a full grooming themselves. This means there's a target market for professional groomers who do house calls or have a space where people can drop their pets for a few hours.

There are no required certifications, but most groomers begin by taking courses, which are widely available in most states.

55. At-Home Daycare

Childcare needs continue to soar in the United States, and many people prefer for their child to be cared for in a home environment as opposed to a more institutional setting. These factors make the market ripe for a home-based childcare business. The regulations for a home-based child care vary by state, so you'll need to pursue appropriate certifications and training depending on where you live.

Read This: Start Your Own Child-Care Service by The Staff of Entrepreneur Media and Jacquelyn Lynn | Amazon | eBooks.com | Barnes & Noble

56. Making Gift Baskets

Finding a niche is the best way to start out in the gift basket business. Are you a dog-lover, horse enthusiast or exercise guru who could put together baskets that hold the things that people with this interest would like?

Do you already create a product that a gift basket could be built around?

You could create custom, place-based gift baskets that could be shipped across the country or sold in a local store, or you can collaborate with local makers to get your business idea off the ground.

57. Hair Styling / Barber Shop

Styling hair or working as a barber is a popular business idea that can be lucrative if you have the right skills and online presence. Typically, a home-based hairstylist business or barber shop would be started by someone with a cosmetology career who wants to go out on their own. If you don't have experience, you can take courses and sharpen your skills by working in someone else's shop. You'll need to obtain the appropriate licenses before you can launch your own business.

58. Nail Technician

If you'd like to offer professional nail styling to clients, most states require that you complete cosmetology school — the number of hours varies depending on where you live. It can be smart to work with someone else before opening your own shop so you learn the skills and techniques you need to be successful.

Once you've completed these steps, you can run your own small business from home or a dedicated storefront.

59. Massage Therapist

Massage therapy can be a successful business, but you must have the proper education and training to not cause injury to your clients. At a minimum, you will want to become certified, which will help you practice safely and ultimately market your qualifications.

Certification courses cover not only human anatomy and physiology and the ways massage affects both, but also how to establish your own successful massage business.

60. Storage Facility

People tend to acquire more things than they can reasonably store in their homes. If you have land, you could make meaningful income by storing large items like recreational vehicles, boats, trailers and campers. Or, if you want to dive deeper into the self-storage business, you could consider opening a storage facility, which would require an increase in overhead costs, appropriate licensing and market analysis.

61. Independent Car Service / Ride-Sharing Driver

Driving experience needed

If you drive for companies like Uber and Lyft, you lose a percentage of your wage to the company. However, there are still market demands for private drivers. If you have a reliable vehicle — or can afford to manage a fleet and other drivers — you can cater to high-end clients not interested in using ride-share apps for their transportation needs.

Newer peer-to-peer car rental services like Turo (think Airbnb for cars) also allow potential business owners to rent out their vehicles to generate incremental income when not in use.

62. Online Reselling Business

Do you have items lurking around your household that you could sell? Or are you scouring Craigslist, eBay, Facebook Marketplace and thrift stores for deals on items you could flip?Here's a relatively straightforward online business idea: Auction or sell the items you find on one of online marketplaces.

Reselling products online can provide a major source of supplemental income, especially if you're willing to refurbish items and sell them at a higher rate. Anyone can get into this type of business as long as they're willing to hustle.

63. Interpreting or Translating Services

In communities with international populations, dependable interpreters and translators are extremely valuable. If you already speak multiple languages, you could earn extra income as an interpreter if you pursue a certification, which typically involves about 40 hours of training.

From there, you can determine what type of translation service clients you're seeking: business professionals, government officials, folks who need documents translated and more.

How to Get Started

Addressing these foundational "business checklist" elements early on can set a strong course for growth and operational efficiency for your entrepreneurial endeavor.

1. Create a Business Plan

Create a detailed business plan outlining your business goals, strategies for achieving them, market analysis, operational structure and financial projections. This document is crucial for guiding your strategy and securing business loans.

2. Decide on Legal Structure

Choose the appropriate legal structure for your business (e.g., sole proprietorship, LLC, partnership, corporation), and register your business according to local laws.

Your chosen business structure affects your taxes, liability and business operations, so consult an attorney and a certified accountant before finalizing your decision.

3. Keep Finances Separate

Set up a robust system for managing your finances, including budgeting, bookkeeping and financial forecasting. Consider your startup costs, ongoing expenses and how you will fund your business idea.

Keeping personal and business finances separate is also highly advisable.

• Open a business bank account and use it for all business-related transactions.
• Obtain a business credit card for company expenses.
• Pay yourself a salary from your business account, which then goes into your personal account, rather than directly using business funds for personal expenses.
• Keep all receipts and document all financial transactions meticulously.

4. Plan Operational Needs

Outline your business' operational needs, including staffing, location, equipment, technology and software needs. Consider how you will efficiently manage the production of goods or delivery of services.

5. Develop a Brand and Marketing Strategy

If through social media platforms, affiliate marketing or search engine optimization, consider how you will establish a strong brand identity and develop a marketing plan to reach your target audience.

This should include your branding elements (logo, color scheme) and your strategies for content creation, promotion and advertising.

6. Operate Within the Law

Ensure you know and comply with all relevant city and state laws, regulations and industry standards. This includes obtaining necessary licenses and permits, understanding labor laws if hiring employees and ensuring data protection and privacy.

7. Build a Support Network

Support networks can provide invaluable advice, feedback and connections. Build a network of mentors, advisors and fellow entrepreneurs.

This network might be close friends, former colleagues or paid mastermind groups.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

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100 Free Sample Business Plan Templates for Entrepreneurs and Small Businesses

Looking for free sample business plan templates? You’ll find plenty here. For FREE! 🙂

It’s one thing to have brilliant business ideas or be keen to explore interesting business opportunities . But until you have a good business plan, you may never be taken seriously.

The biggest problem most entrepreneurs have with writing a business plan is that they don’t know where or how to start.

If you’re one of those who’s looking for a simple, effortless and straightforward way to write a great business plan, today’s your lucky day!

This article contains a long list of free sample business plan templates that will give you the easy start you really need to write your own business plan. Just look for a sample that suits your business and tweak it until it’s yours!

Copy, edit and use; it’s that easy!

In my experience, a business plan is not always the long, complex and scary document you think it is. Depending on your target audience (banks, investors, business plan competition), a business plan can be as simple or complex as you want it.

The list below covers a wide range of businesses. Whether you’re planning for a night club, used car sales, wedding planning or child day care services , you’ll find a business plan sample for any kind of business you can think of.

If in the end, you don’t find a sample plan for the business you want, visit the 500+ Business Plan Samples to see more.

— — — — — —

Your journey starts here; just scroll down the page to see all the plan titles and a summary of the businesses. When you find a sample you like, click on the ‘ Read Full Business Plan ’ link to view the full plan on our affiliate site.

1.    Night Club Business Plan

The Spot is a new night club that will focus on attracting the students of State University, with a student population that exceeds 22,000 and growing by 15% each year. The night club will be located one block away from the main campus. Read Full Business Plan  

2.    Hair & Beauty Salon Business Plan

Trend Setters is a full-service beauty salon dedicated to consistently providing high customer satisfaction by rendering excellent service, quality products, and furnishing an enjoyable atmosphere at an acceptable price, value and relationship.  Read Full Business Plan

3.    Spa Health Club Business Plan

Visions (VS) is a socially and environmentally conscious health club that is concerned not only with physical beauty but also with mental well being. It is a health club with environmental and social concerns that sets it apart from other clubs; all products used are plant safe and cruelty free.  Read Full Business Plan   

4.    Bed and Breakfast Hotel Business Plan

The long-term goal of Coach House Bed and Breakfast (Coach House) is to become the best choice on Tybee Island, Georgia for temporary lodging by creating a differentiated experience capitalizing on personal service, the historical nature of the Coach House building, and its unique location in one of the most attractive parts of the Old South.  Read Full Business Plan  

5.    Plumbing Business Plan

Water Tubes Plumbing is a plumbing company that has chosen residential new homes as its preferred niche. Water Tubes will be able to handle any service request for plumbing of volume home builds or custom new homes.  Read Full Business Plan  

6.    Painting Contractors Business Plan

Barnum Painters will provide top-quality interior and exterior residential and commercial painting services. The principal officers of Barnum Painters believe that most companies in this industry suffer two major problems : poor scheduling of job projects and poor retention of quality employees. We intend to change the way these are done and excel in both areas.  Read Full Business Plan 

7.    Home Interior Design Business Plan

Hamlin and Park Design will offers a wide range of interior design services to meet any client’s needs in our business area. Our services will include : On-site consultations; Project survey & analysis; Space planning & furniture arrangement; Design concepts; Finishes & furnishings; Custom designs; Purchasing, delivery, & installation; Project coordination & management.  Read Full Business Plan  

8.    Furniture Manufacturer Business Plan

Trestle Creek Cabinets will be formed as a cabinet company specializing in custom cabinets for the high-end residential, resort, and commercial market. Its founders have extensive experience in the construction and cabinet industry.  Read Full Business Plan  

9.    Equipment Rental Sales Business Plan

Equipment Rental, Inc. (ER) is a company that sells and rents heavy equipment such as bulldozers, backhoes, excavators, and trenchers as well as small home use and construction equipment such as tillers, augers, and chain saws.  Read Full Business Plan 

10.    Building Construction Business Plan

Concrete Installation LLC plans to become the leading provider of concrete formwork services in the area. This means always having the best and most efficient facilities, processes, and people. Read Full Business Plan  

11.    Construction Repair Business Plan

HodgePodge Sealcoating Company is a service provider that offers crack filling and sealcoating to residential customers. Sealcoating protects asphalt driveways by filling the cracks and coating the surface of the driveway, protecting it against the weather.  Read Full Business Plan

12.    Computer Consulting Business Plan

Calico Computer Consulting shall provide fast and reliable technical assistance to small office computer users. The keys to success for CCC are marketing and networking, responsiveness, quality, and generating repeat customers. The initial primary service offered will be hourly technical aid, although retainer contracts and projects will be considered in the future growth.  Read Full Business Plan   

13.    Wedding Consultant Business Plan

TLC Wedding Consultants is a full service company that provides complete consulting services for weddings , holy unions and anniversaries. Our services include weddings, honeymoons, receptions, anniversary consultations, budget planning, answers to etiquette questions, as well as full-service referrals to florists, hair stylists, entertainers, musicians, etc.  Read Full Business Plan  

14.    Business Consulting Business Plan

Growth Management and Strategies (GMS) is an ambitious innovative new company that is attempting to turn the small business consulting business on its head. With an experienced consultant at the helm as President, GMS intends to grow at more than 50 percent per year through solid customer service, a great sales plan, proven competitive strategies, and a group of people that bring dynamic energy to the company and the sales process.  Read Full Business Plan  

15.    Seminar & Training Business Plan

Advanced Linguistic Pontificators is a leading seminar and training program company led by a best-selling author. Advanced Linguistic Pontificators will be targeting medium- and large-size companies and corporations. Pontificators will quickly reach profitability and achieve $79,000 of net profit by Year Two.  Read Full Business Plan 

16.    Marketing Strategy Consultant Business Plan

The Cambridge Strategy Group (CSG) , is dedicated to providing marketing and management consulting services to small and emerging businesses looking for opportunities to increase their potential for success. Unlike traditional management consulting firms that focus on analyzing problems for large customers, CSG works exclusively with small business clients to develop concrete, practical, short-term action plans that will start moving their businesses in the right direction.  Read Full Business Plan

17.    Day Care Business Plan

Safe Kids Child Care is a start-up organization that provides day care services to families living in the surburbs of a large city. This mid-sized child care facility serves children from three months to six years of age. Safe Kids’s services are safe and secure, providing the parents with an excellent place where their children can be taken care of.  Read Full Business Plan

18.    Child Care Business Plan

The Toddler Warehouse is a full-service child care/development facility that cares for toddlers from age three to five. The Toddler Warehouse will be concentrating on the upper end of the market: which is made up of double-income professional parents.  Read Full Business Plan 

19.    Diaper Manufacturer Business Plan

Baby Nappies World plans to enter and penetrate the baby nappies and sanitary pads market. Baby Nappies World is poised to take advantage of the impressive growth rate and minimal local competition in this market. It will have a dedicated and experienced staff, excellent order procurement, and effective management and marketing.  Read Full Business Plan

20.    Movie Theater Business Plan

The Falls River Theatre will provide the residents of Falls River with a long-awaited, hometown movie theatre. The films shown will be second run releases of the most popular movies in two target markets: families and young adults.  Read Full Business Plan 

21.    Parenting Centre Business Plan

A Mother’s Place is a new company targeted to open in downtown Santa Cruz. We will provide a family-friendly environment with high quality customer service to meet the daily emotional, physical and social well-being needs of mothers, young children and other family members. Read Full Business Plan

22.    Recreation Center Business Plan

Play Time for Kids has identified the family entertainment industry as its primary interest and the company has focused its efforts on the development of one or more family entertainment centers (FEC) to provide quality family entertainment activities to the communities in the Our County, Big City area.  Read Full Business Plan

23.    Tutoring Service Business Plan

Bryan’s Tutoring Service offers a wide range of academic subjects. Sessions can be set up as private or students may form groups for tutoring. Private sessions offer intense individual assistance, but groups sessions can also be beneficial with decreased economic costs and the use of team-based approach that the business program encourages. Read Full Business Plan 

24.    Educational Software Business Plan

Third Degree I.D. designs, develops, and markets instructional products and services for the corporate, education , government, and healthcare e-learning industries. It provides a core deliverable of programs, courses, and learning objects for the distance education, distributed learning, and e-learning markets.  Read Full Business Plan  

25.    Driving School Business Plan

Markam Driving School (MDS) offers a wide range of driver services. It is ultimately the goal of the company to be a one-stop facility for all driver needs, including registration, licensing, etc., but at this time Markam mainly offers private and commercial driver education in the Seattle, WA area. MDS is positioned as a low-cost facility with excellent service. Read Full Business Plan  

26.    Computer Software Business Plan

FoodFun Lifeskills Instructional Software (FoodFun LIS) is a start-up organization whose vision is to create the finest education/entertainment software for non-reading individuals with developmental disabilities. The software product is designed and created for the special education industry. It will be constructive by teaching certain lifeskills and will be fun to use, encouraging the student to use it as often as possible.  Read Full Business Plan  

27.    Teachers Employment Agency Business Plan

Teacherafterschooljobs.com is a new job search website that is designed to provide teachers with part-time or seasonal employment, supplementing their current income. The site will be effective in matching educated, mature, responsible educators with employers in need of their part-time or summer assistance. Read Full Business Plan  

28.    Agriculture Farm Business Plan

Botanical Bounty is working hard to become a leading producer of botanical plants for the natural supplement industry as well as plant nurseries. By leveraging a well thought-out business plan executed by a skilled management team, Botanical Bounty will generate over $216,000 in sales in the next three years.  Read Full Business Plan  

29.    Agriculture Fruit Farm Business Plan

Farmers Group is a company whose mission is to provide high quality, nutritional, and flavourful vegetables and strawberries for consumption in both near and remote areas. Additionally, the company will provide high quality planting materials for use nationwide.  Read Full Business Plan 

30.    Coffee Export Business Plan

Silvera & Sons prepares green Arabica coffee beans grown in Brazil for exportation to American specialty roasters and sells to wholesalers on the Brazilian market. Our coffee stands out from the competition. We prepare the top five percent, in terms of quality standards, of all Arabica beans on the market. Our customers seek this product as it provides them with a point of differentiation to specialty roasters. Read Full Business Plan  

31.    Wholesale Juice Business Plan

Oasis Juice is planning to expand its operation to include distribution to stores within the entire state.  Owner funding and internally generated cash flow will enable most of the expansion plans.   The company will also secure a $100,000 short-term loan.  Sales projections for the next three years are based on current sales success with the target customer base.  This plan will result in sales revenues growing to $1.2 million by Year 2.  Read Full Business Plan  

32.    Feed and Farm Supply Business Plan

Latheethen Feeds , Inc. is a well-established custom feed store. The company is engaged in the production of custom livestock feeds , bird feed, deer feed, and other animal products in relation to livestock animals, pets, etc. Latheethen Feeds, Inc. has recently expanded its production facility (custom mill) and is well-positioned to market its workroom production beyond its present client base.  Read Full Business Plan 

33.    Workout Gym Business Plan

The Mountain Brook Fitness Center is a thriving business-person’s club but is also one of the only family-focused clubs in the Monroe area. Fifty percent of our members are under the age of 45 and have young children. Currently, the center has 900 members. A center membership is $800 a year. The Mountain Brook Fitness Center wants to add an additional 300 members with families over the next three years.  Read Full Business Plan  

34.    Fitness Equipment Business Plan

Circuit Fitness Importing is a start-up business that has become the exclusive importer of the Wega Corporation’s innovative Esercitazione Diritta (Exercise Standing) fitness equipment. Circuit Fitness Importing is poised to receive the exclusive license to sell this patented equipment, already very popular in Europe, in the U.S.A.  Read Full Business Plan  

35.    Martial Arts School Business Plan

Cents and Sensibility will be a value-priced taekwondo martial arts school serving its customers in our community by providing several programs for a variety of purposes, ranging from basic martial arts, to self defense, to esteem and life skills building, and more.  Cents and Sensibility Martial Arts School plans to enhance its programs as it expands, developing new programs to ensure the students have as much access to the different aspects of Songahm Taekwondo as possible.  Read Full Business Plan 

36.    Physical Fitness Gym Business Plan

Ladies Only Fitness is a women-only health club that creates a personalized environment for women to pursue their fitness goals.  We have the best equipment and the best training program in this arena. We prepare our clients for success because we have the best weight-management program.  Positive Lifestyle Systems is a truly responsible and effective weight-management program. We offer this program with confidence. It is unbeatable.  Read Full Business Plan  

37.    Wholesale Bicycle Distributor Business Plan

Wheelie Deals is a wholesale distributor that serves the retail bicycle industry.  Wheelie Deals will carve out a focused niche within this industry, providing closeouts, last-year models, and fairly-used bicycles.  Currently, most of the large wholesalers will occasionally have a closeout to offer, however, the availability of special deals is spotty.  Wheelie Deals will quickly become the #1 source to provide retail shops with above average margins. Read Full Business Plan  

38.    Clothing Manufacturer Business Plan

New Look is a recent start-up manufacturer of an upscale clothing line targeted at males between the ages of 20 and 40. New Look not only develops the clothing line , but supports it with advertising and promotion campaigns. The company plans to strengthen its partnership with retailers by developing brand awareness. New Look intends to market its line as an alternative to existing clothing lines, and differentiate itself by marketing strategies, exclusiveness, and high brand awareness.  Read Full Business Plan 

39.    Cosmetics Manufacturing Business Plan

Bluespa is a company that has created a brand concept consisting of both skin care and athletic apparel utilizing multiple channels of distribution. We are seeking recurring investment to fund the growth of the brand, and position the company for an IPO. This plan shows how Bluespa will reach profitability in our third year of operation and generate shareholder return on equity within five years.  Read Full Business Plan  

40.    Plastics Recycling Business Plan

The growing utilization of plastics in industrial and consumer applications, combined with increased consumer awareness surrounding solid waste recycling , has led to an increased demand for recycled plastic resins and products. One of the fastest growing types of collected plastic materials for recycling is polyethylene terephthalate (“PET”) from post-consumer beverage and water bottles. Replay Plastics will capitalize on the opportunities in the recycled resin and packaging markets through two main divisions: a Recycling Division and a Packaging Division.  Read Full Business Plan  

41.    Cleaning Products Business Plan

The marketplace for janitorial products and services is changing, both in nature and scope. The consumer is becoming more conscious of the environmental impact of cleaners as the market expands. ChemSafe offers a innovative line of biodegradable, environmentally safe, citrus cleaners to janitorial services, retail outlets and consumers. The product line includes: Automotive cleaners; Industrial cleaners; Degreasers; Hand cleaners; Odour control; Tar remover; Concrete cleaners; Vehicle wash and wax products.  Read Full Business Plan 

42.    Office Furniture Manufacturer Business Plan

Willamette Furniture helps create pleasant and productive office environments with well-designed furniture that incorporates new technology into the classic office mode in which real people can work happily. We are sensitive to the look and feel of good wood and fine furniture as well as to high-powered personal computing. We always provide the best possible value to our customers who care about quality office environments, and we want every dollar spent with us to be well spent.  Read Full Business Plan  

43.    Remodeling Business Plan

Comgate is a custom mill house specializing in creating architectural woodwork in the form of wall paneling, custom cabinets, and other products for the local residential market. After initial losses and several thin profit years of competitive bidding construction projects, Comgate is creating this business plan in order to bring its mission statement into clearer focus. Prior years were characterized by hectic efforts to bid as many jobs as possible. Margins were thin as pricing policy was “flexible” for fear that there would be insufficient work for production staff. Read Full Business Plan  

44.    Retail Furniture Manufacturer Business Plan

Producing and selling furniture is a $12 billion industry.  The focus of the industry is on the affluent customer who can spend upwards of $3,000 on furniture purchases.  In our region, there are fifteen furniture stores that are competing for these customers with deep pockets.  Those customers who can’t afford these high prices are left with a poor selection of inferior products.  Read Full Business Plan 

45.    Specialty Gifts Business Plan

Pink Lady Bug Designs LLC (PLBD) is a provider of high-quality, uniquely crafted chocolates, gift baskets and other fine products that are sold for the purpose of raising awareness and funds for women’s health programs.  Read Full Business Plan  

46.    Pharmacy Business Plan

The Discount Pharmacy’s main goal is to provide prescription medications for our customers at the lowest prices on the market. We will be able to sell prescriptions at reduced prices by carefully maintaining efficiencies in our operations and by targeting a specific segment of the market – those customers who pay for their prescription medications themselves.  Read Full Business Plan  

47.    Laboratory Business Plan

Fargo Medical Laboratories (FML) is a start-up company committed to providing the most convenient, friendliest blood testing service to the physicians of the Main Street Professional Building and the surrounding area.  Read Full Business Plan 

48.    Medical Equipment Business Plan

MedNexis, Inc. (the company) is a medical device development company that has designed and patented medical devices which it plans to produce and market. A magnetic muscle stimulator/field generator has been designed with the participation of leading medical personnel and biomedical engineers. One patent is initially incorporated.  Read Full Business Plan  

49.    Real Estate  Broker Business Plan

While many people hope one day to purchase their own home, cultural barriers and shortages in affordable housing are just two of the issues that can prevent these dreams from materializing. Reed Properties is working to keep these dreams alive. This new real estate brokerage will not only define success by the number of units closed and sales volume but also by whether people were helped in the process.  Read Full Business Plan  

50.    Bakery Business Plan

Jolly’s Java and Bakery (JJB) is a start-up coffee and bakery retail establishment located in Southwest Washington. JJB expects to catch the interest of a regular loyal customer base with its broad variety of coffee and pastry products. The company plans to build a strong market position in the town, due to the partners’ industry experience and mild competitive climate in the area. JJB aims to offer its products at a competitive price to meet the demand of the middle-to higher-income local market area residents and tourists.  Read Full Business Plan 

51.    Catering Business Plan

Sumptuous Cuisine Catering is a local catering company serving both business and private clients within a ten mile radius. Established in 2005, the business has operated a catering kitchen and specialized in full-service catering and event planning for upscale events in the region. The business event management, event staff, a variety of cuisine for breakfasts, lunches, dinners, and appetizers, alcoholic and non-alcoholic beverage service, floral design, space design and decor, musicians and DJs, event equipment and furniture rentals, and other event services.  Read Full Business Plan  

52.    Restaurant Business Plan

New World Delicatessen (NWD) is an eating establishment focusing on heathy, nutritious, and fast food to the local downtown area. The New World Deli will be an upscale deli specializing in a combination of fast hot or cold sandwiches and salads plus specific recipes focusing on the Pacific Northwest cuisine. Based on this distinct menu, New World Deli will follow a differentiation strategy that will provide unique, or hard to find choices to deli patrons.  Read Full Business Plan  

53.    Fast Food Restaurant Business Plan

Fresin Fries is a locally owned fast food outlet that will be positioned as an international franchise through our creative approach to the company’s image and detail presentation. Fresin Fries will provide a combination of excellent food at value pricing, with fun packaging and atmosphere. Fresin Fries is the answer to an increasing demand for snack-type fast food, to be consumed while window shopping and walking around inside a shopping mall.  Read Full Business Plan 

54.    Fine Dining Restaurant Business Plan

Gabri’s Lounge & Restaurant is a 60-seat fine-dining restaurant with a 20 seat lounge. We focus on our New American-Swedish menu with a touch of Asian influence. The menu will be inspired from different countries’ specialties and appeal to a diverse clientele.  Read Full Business Plan  

55.    Food Preparation Business Plan

What’s For Dinner? is an exciting, new business with a unique approach to helping people enjoy home cooked meals with their families. Customers will come to our office location and prepare 12 meals that they pre-select from a menu in a party atmosphere. In two hours, they will have a month’s worth of meals to put in their freezer.  Read Full Business Plan  

56.    Internet Cafe Business Plan

JavaNet , unlike a typical cafe, will provide a unique forum for communication and entertainment through the medium of the Internet. The public wants: (1) access to the methods of communication and volumes of information now available on the Internet, and (2) access at a cost they can afford and in such a way that they aren’t socially, economically, or politically isolated. JavaNet’s goal is to provide the community with a social, educational, entertaining, atmosphere for worldwide communication.  Read Full Business Plan 

57.    Used Auto Sales Business Plan

There is a need in community for a large selection of quality used cars, and Integrity Auto Sales will sell these top-quality used vehicles at a competitive price to customers in the area. The owner and sales manager have over 30 years of combined experience in new and used auto sales. We will continue to develop our excellent working relationship with local dealers and auctions to bring the savings to the customer.  Read Full Business Plan  

58.    Home Accessories and Gifts Business Plan

The Scarlet Tassel is a start-up retail store offering eclectic home accessories and gifts to consumers wanting to create a personalized home environment – that “I’m home” feeling. The Scarlet Tassel plans to cater to middle- and upper-class consumers who look beyond the national home accessory and gift chain stores for those expressions of individual personality and style.  Read Full Business Plan  

59.    Home Decoration Fabrics Business Plan

Interior Views is a retail store offering home decorator fabrics and complementary home accessories and resources. It is now approaching its fifth year in business. This destination store offers the advantages of providing fabrics specifically designed for home decorator use in fabric widths of 54 inches and greater. Over 900 fabrics are available on the floor at any time with more than 10,000 sample fabrics for custom “cut” orders.  Read Full Business Plan 

60.    Gifts, Novelties, Souvenir Business Plan

The Avant-Garde Shop is a retail store specializing in the sale of novelty of various product mix. The store, however, will emphasise the sale of official merchandise of the Avant-Garde brand with a full assortment of apparel, accessories and stationary, as well as other lifestyle related novelties. Read Full Business Plan  

61.    Gift Basket Business Plan

Basket of Goodies (BOG) is a premier gift basket retailer. BOG is concentrating on making gourmet gift baskets out of a wide range of high-quality ingredients. In addition to having several flagship baskets, BOG will also offer the option of a custom basket allowing the customer to choose the ingredients themselves.   Read Full Business Plan  

62.    Family Clothing Business Plan

ReHabiliments is a clothing and apparel business with located in Sandybar Harbour.  The company sells trendy clothing and apparel, such as casual and active wear, head gear, work-out gear, leather coats, and baseball jackets to an international market consisting of individuals of all ages, from all walks of life.  Read Full Business Plan 

63.    Drapery Fabricator Business Plan

Cutting Edge Drapery is a well-established decorators’ workroom. The company is engaged in the production of draperies, slip covers, and other textile products in accordance with the designs and concepts of interior designers. Cutting Edge Drapery has recently expanded its production facilities and is well-positioned to market its workroom production beyond its present client base.  Read Full Business Plan  

64.    Custom-Printed T-Shirts Business Plan

Your T-Shirt! is an exciting new business that allows people to custom design a shirt (specifically the design on the front or back) any way that they would like. By intelligently leveraging cutting edge technology, Your T-Shirt! will harness the power of computer sublimation to allow custom shirt printing in production runs as small as one unit.  Read Full Business Plan  

65.    Convenience Store Business Plan

MillenniumMart is the convenience store of the 21st Century future, fulfilling a need that will continue to exist into the future – the need for speed. MillenniumMart will be the first fully automated, 24 hour convenience store that is more like an enormous dispensing machine than the traditional store.  Read Full Business Plan 

66.    Clothing Retail Business Plan

Mahogany Western Wear is a new apparel store that caters to the African-American cowboy community in Houston, Texas. As our name suggests our focus is to provide western wear apparel and accessories, and position ourselves as the top retail store servicing this particular market.  Read Full Business Plan  

67.    Butcher Shop Business Plan

Parkdale Meats , is a startup specialty butcher shop to be launched in the coming year.  It will sell a wide menu of meats to customers including medium- and high-income residents of Parkdale, as well as high-income residents of neighboring towns, and high-end caterers.  Read Full Business Plan  

68.    Cell Phones Retailer Business Plan

Garbles Cellular Phones is taking advantage of an opportunity to become a highly distinguished and recognized leader in the mobile phone communications industry. It is the goal of our company to become established as the leading distributor of wireless communications services in the metro area.  Read Full Business Plan 

69.    Bridal Shop Business Plan

Moms, Maids, and More is a wedding attire shop like no other. While most retail bridal shops focus on selling wedding gowns, our focus is everything else. We will cater to the mothers of the bride and groom, bridesmaids, and flower girls. In addition, we will provide an array of accessories for all the female members of the bridal party.  Read Full Business Plan  

70.    Automotive Car Repair Business Plan

Mad Keen Motors is a family-owned business located in a suburb of London. It has been under the ownership of the Keen family for 35 years and has grown from a single mechanical repair shop to five locations that deal with body and mechanical repairs, vehicle storage and towing, washing and valeting and used car sales.  Read Full Business Plan  

71.    Recycling Waste Materials Business Plan

Mid-Atlantic Recycling’s area of business will be to collect, recycle/compost, and market waste from municipality waste processing plants for use as a consumer good. Our recycled waste will be targeted toward fertilizer manufacturers, nurseries, landscapers, farmers, government agencies, golf courses, and other.  Read Full Business Plan 

72.    Auto Inspectors Business Plan

Portland Mobile Auto Inspectors is a mobile car inspection service for prospective used car buyers practicing due diligence.  Portland Mobile Auto Inspectors travels around with all of the necessary test equipment to inspect used cars.  Within one to one-and-a-half hours, the inspection is complete and the customer is given a detailed custom printout that indicates the tests performed and the results, thereby indicating the condition of the vehicle.  Read Full Business Plan  

73.    Auto Repair Service Business Plan

Quick and Dirty Auto Repair aims to offer high-quality auto repair services and a full range of auto parts. QDAR focuses on personalized service to its customers by offering convenience and rapid service. Additionally, QDAR is technologically savvy with computerized monitoring of all parts inventory, to ensure that parts are always in stock, while keeping a balanced level of inventory to maximize inventory turnover.  Read Full Business Plan  

74.    Car Wash Business Plan

Soapy Rides will be providing customers with three services: exterior car washing, , interior cleaning, and detailing. Soapy Rides has no true competitors that are trying to offer a high quality service for a reasonable rate. Most are trying to compete on price alone. Soapy Rides’ ability to provide a high quality service, both in regards to the actual washing as well as customer service is all based on their ability to find the best employees.  Read Full Business Plan 

75.    Carpet and Upholstery Cleaning Services

Like New Carpet Cleaning will sell carpet and upholstery cleaning services to home and condominium owners, building its brand around the fact that it will make carpets look “like new.” To that end, the business will raise $57,500 from outside investors to purchase its delivery van, carpet-cleaning equipment, and develop a unique, service-oriented website which will keep administrative costs low and drive sales through its simple and easy accessibility for the consumer.  Read Full Business Plan  

76.    Catering Company Business Plan

Fressen Catering is a kosher catering company.  Fressen offers creative, colorful, and unusual food options for kosher as well as the traditional standbys.  The service offerings are quite a change relative to the existing kosher catering market which is quite stagnant.  Read Full Business Plan  

77.    Commercial Photography Business Plan

Flash Commercial Photography will serve small and medium-sized businesses and non-profits for all of their studio photography needs by creating beautiful shots that serve the client’s needs, offering excellent service and flexibility with a personal touch, and offering value-added services related to photography.  Read Full Business Plan 

78.    Computer Repair Business Plan

PC Repair will provide computer and technical consulting (repairs, training, networking and upgrade service) to local small businesses as well as home PC users. The company will focus on marketing, responsiveness, quality, and creating and retaining customer relations.  Read Full Business Plan  

79.    Janitorial Services Business Plan

Clean Office Pros is a new cleaning service specializing in office cleaning and serving the Kansas City, Missouri area. The business will sell office cleaning and related services to businesses with office spaces of any size. The business also offers office cleaning, floor treatment, carpet cleaning, and window cleaning for businesses with office space in the Kansas City area.  Read Full Business Plan  

80.    General Freight Trucking Business Plan

Mike’s Trucking Service is a trucking company that aims to be one of the largest trucking companies in the country.  Mike’s is initially focusing on the food industry with plans to diversify into new industries. Mike’s has chosen the trucking industry as the growth prospects are encouraging and stable, with trucking dominating the freight industry in this country.  Read Full Business Plan 

81.    Limousine Taxi Business Plan

San Francisco Limo is a limousine service serving customers with top quality transportation services using late model limousine sedans. San Francisco Limo will generate $52,000 in net profit by year three.  Read Full Business Plan  

82.    Taxi Business Plan

City Taxi is a company whose mission is to provide reliable, timely, and safe taxi cab services by using complete, in-car credit and debit card access, along with computer-aided dispatch. The company will establish its presence in the industry by acquiring an existing taxi cab association, Mighty Cab, a family-owned business that was formed 12 years ago.  Read Full Business Plan  

83.    Used Auto Sales Business Plan

Integrity Auto Sales plans to provide a unique car buying experience to its customers. One that focuses on customer satisfaction first. We understand that vehicle purchasing is a necessary, but sometimes unpleasant experience. Our goal is to provide the customer with an enjoyable, honest service by satisfying individual customers practical transportation needs with a quality product.  Read Full Business Plan 

84.    Personal Event Planning Business Plan

Occasions strives to be the best choice of clients by helping to ease their event planning burden. Through consistent, predictable professionalism, Occasions will ensure a worry and hassle-free event at a reasonable price. By combining old fashioned values, going the extra mile, and using cutting edge event-planning software, Occasions will lead the market, providing the same quality results, every time.  Read Full Business Plan  

85.    Event Planning Business Plan

The Corporate Retreat Professionals (CRP) is an event planning company specializing in corporate customers.  CRP will offer two types of services, retreat training services as well as product launch event planning.  The retreat training services will be either leadership development training or teaming skills training.  For both types of retreats, CRP can take care of the planning of the event, as well as actually hosting the training through the use of one of CRP’s strategic business partners.  Read Full Business Plan

To be continued… We will keep updating this list until the world runs out of sample business plans!

And by the way, if you enjoyed reading this article and you’re thinking of raising capital to start or grow your business, you’ll love Jackpot!, one of the most comprehensive guides ever written for raising funds for any type of business, project, or cause.

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About the author: john-paul iwuoha.

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• Business Loans

How To Get A Startup Business Loan In 5 Steps

Updated: Dec 25, 2023, 11:03pm

How To Get a Startup Business Loan With No Money

Getting a business loan is more challenging for startups than for established businesses—but it’s still possible. New business owners can improve their approval odds by choosing the right type of financing, familiarizing themselves with their credit scores and identifying the most competitive lending options available. Here’s how to get a startup business loan .

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1. Evaluate What Kind of Loan You Need

Many small business owners opt for financing through traditional banks and credit unions. However, there are several types of business financing that can help startups get off the ground. Common types of startup business loans include:

• Online term loans . Term loans are generally issued by online and traditional lenders, and involve a bank extending a lump sum of cash, repaid over a set period of time, at a set interest rate. Annual percentage rates (APRs) on the best small business loans start around 9%, and maximum limits typically extend from $250,000 to $500,000. That said, startup owners may not qualify for the highest loan amounts and most competitive interest rates.
• Business lines of credit . With a business line of credit , a lender extends funds up to a certain amount and the business owner can access the financing on an as-needed basis. Interest only accrues on the portion of the credit line accessed from month to month. Furthermore, the borrower can access funds repeatedly after making payments during the draw period.
• SBA 7(a) loans . The 7(a) loan program is offered through the U.S. Small Business Administration (SBA) and extends business loans up to $5 million to eligible applicants. Funds can be used to cover working capital, equipment purchases and business expansion expenses, and interest rates range from 2.25% to 4.75% plus a base rate.
• SBA Microloans . SBA Microloans are available to eligible business owners up to $50,000. Loans are typically offered to startups in disadvantaged areas and to those owned by minorities and women. Repayment terms may be as long as six years, with interest rates ranging from 8% to 13%, depending on the lender.
• Asset-based financing . Asset-based financing is a form of secured business financing that lets startup owners borrow against valuable assets like inventory, machinery and equipment, accounts receivable and real estate. This type of financing is less risky for lenders, so the terms are often more competitive than other types of loans. However, secured financing means the bank can repossess the collateral if the borrower defaults.

2. Check Your Business and Personal Credit Scores

Lenders evaluate an applicant’s credit score to gauge the amount of risk they pose. Applicants with a higher credit score are more likely to make on-time payments and, therefore, have higher approval odds. Business credit scores are typically available after six months to one year of operations, so new businesses may not have one, especially if the startup is brand new.

That said, loans are often personally guaranteed—meaning the borrower legally agrees to repay the debt with their personal funds if the business fails to repay—so lenders also look at the applicant/business owner’s personal credit score.

Prepare for the application process and gauge your approval odds by requesting copies of your business credit reports and checking your personal credit score before applying for a loan.

3. Gather and Prepare Required Documents

The exact documents required to get a business loan vary by lender. However, there are some documents that most lenders use to assess and verify an applicant’s identity and a business’ existence. For example, lenders often request tax returns going back at least two years, as well as financial records like bank statements, accounts receivable, credit card sales and outstanding invoices from the past four months—at a minimum.

As a startup founder, you can also improve your approval odds by drafting a comprehensive business plan. This can demonstrate to lenders that the business is financially stable enough to repay its debts based on future revenue and expense projections. Lenders also may request copies of business licenses and registrations applicable to your business or industry, as well as banking information for direct deposit.

4. Research and Compare Lenders

Depending on your personal and business qualifications, you may qualify for a startup loan through multiple lenders. To identify the best startup business loans for your needs, consider these factors when comparing lenders:

• Annual percentage rates . In general, business loan APRs start around 9%, but rates may be higher for startup business loans, and they can even be lower for the most qualified applicants. Visit each lender’s website or contact a customer support representative to determine available APRs.
• Fees and other costs . Business lenders often charge origination fees ranging from 3% to 5% of the total loan amount to cover the costs of handling paperwork and verifying application information. Others also charge prepayment penalties for borrowers who pay off their loans early or late payment fees for those who miss their due date. These fees can increase the overall cost of borrowing, and some lenders eliminate them to remain competitive.
• Lender reputation . Even if a lender looks good on paper, take time to read online reviews to evaluate its reputation among current and past borrowers. Likewise, reach out to other members of your business community to learn about others’ experiences with the financial institution. Consider choosing another lender if your research reveals any red flags, like negative customer support experiences.

5. Submit Your Application

Once you choose a lender, familiarize yourself with its application process and make sure you compiled the correct documentation. Application and underwriting processes tend to vary by lender, so look into whether you can apply online or via telephone—or if you’ll need to visit a branch. After you submit your application, a lender representative may contact you to request additional documentation such as proof of collateral or further financial records.

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How To Get a Startup Business Loan With Bad Credit

You’ll first have to be able to demonstrate a track record of financial success to get a business loan with bad credit. That said, lenders will still often look at the owner’s and business’s credit history.

Here are a few things you can do to boost your chances:

• Improve your credit. Check your personal credit report for inaccuracies. Pay down your credit card debt and focus on other ways to increase your credit score quickly.
• Look for SBA lenders. Some SBA partner lenders offer certain SBA loans to businesses that haven’t yet launched, such as microloans.
• Seek out nonprofit assistance. Volunteer-run programs like a local Small Business Development Center or SCORE offer one-on-one assistance for new entrepreneurs and may be able to give you more specific individualized advice.
• Take advantage of special programs. If you’re part of an underrepresented group, such as a minority or rural resident, you may be eligible for special startup business loan programs.
• Apply through a CDFI. These financial institutions focus on underserved communities and may be better aligned to help with your business and personal lending needs.

Pros and Cons of Startup Business Loans

As you’re considering taking on debt for your new business, consider these points.

• Maintain ownership of your company
• Predictable monthly payments with fixed-rate loans
• Spread the cost of starting a business over several years
• Improve your credit score if you make on-time payments
• May be difficult to qualify for
• Loan costs from fees and interest may be very high
• May need to provide loan collateral
• High loan payments can put your business at risk of failure
• May need to repay the loan from your personal funds if the business fails

What Do I Need for a Startup Business Loan?

When you apply for a startup business loan, lenders can require a broad range of documents to evaluate whether or not to lend you and your business money. Ultimately, lenders need to determine if your business can repay the loan.

If you apply for a loan, you’ll often need:

• A robust business plan. If your business has been recently formed, a business plan with financial projections will be crucial for lenders to determine your ability to repay a loan.
• Business and personal credit scores. A lender may use both the credit score of the business and your own score to see how you’ve managed debt in the past.
• Collateral. As a new business, lenders may require you to back the loan with collateral or an asset that a lender can take possession of if you fail to repay the loan.
• Business revenue. If your business has any revenue, lenders will use this information to evaluate your application.
• Time in business. For most lenders, regardless of how recently formed, you’ll need to provide documentation showing your time in business.

Although your business may have been recently formed, many of the requirements for a standard business loan will also be necessary.

What Factors Do Lenders Consider in Business Loan Applications?

Small business lenders consider a wide range of factors when considering a business loan application, including your credit score, collateral, revenue, time in business, business plan, experience in the industry and more.

What If I’m Rejected for a Startup Business Loan?

If you’re rejected for a startup business loan , there are a number of things you can do to fund your new business. Start by contacting the lender directly to find out why your application was rejected. This information can provide insight into changes you can make to improve your credit profile and future approval odds. Then, continue to develop your business’ finances until it is established enough to qualify for a startup business loan or other financing.

If you don’t have time to improve your credit score or build your business before reapplying for a business loan, consider an alternative form of financing .

Startup Business Loan Alternatives

Startup business loans can help cover the costs of getting a new venture off the ground—or growing it into a larger operation. However, strict qualification requirements can make it difficult to get a traditional business loan. These are some popular startup business loan alternatives.

Business Credit Cards

Business credit cards let business owners access financing on a revolving, as-needed basis. Funds can be used for a wide range of purposes—including everything from buying furniture and other office supplies to larger purchases like equipment—and the application process is more streamlined than for business loans. Because lending decisions are based solely on the borrower’s personal credit score, it’s often easier to qualify for a business card than a loan.

APRs range from around 13% to 25%, but some cards offer introductory 0% APRs that let business owners make interest-free purchases for up to two years. What’s more, cardholders only pay interest on unpaid balances that carry over to the next billing cycle. So, credit cards can help startups cover monthly operating costs while avoiding interest.

Personal Loans for Business

Startup founders who are unable to qualify for a business loan may have better luck applying for a personal loan. Not only is the application process often less rigorous than for business loans, but personal loan qualification requirements are also generally less robust.

And, while loan amounts may be lower than those available through business lenders, qualified applicants may qualify for lower APRs with a personal loan than a business loan—as low as 3% for the most creditworthy applicants.

These characteristics make personal loans an excellent option for startups without established revenue or financial projections. However, some personal loan lenders don’t allow borrowers to use funds for business purposes, and borrowers are personally liable for repaying personal loans—though this is also the case for many business loans. Finally, commingling business and personal loan funds can complicate bookkeeping, tax and legal matters.

Related : Best Personal Loans

Personal Savings

For some, borrowing is not the only way to finance a new business. Business owners who have sufficient personal savings can use those funds to start or grow their businesses. Not only do personal savings eliminate the need to pay origination fees and interest, but using cash to finance a startup can help a business owner avoid giving equity to investors.

That said, investing personal money can be a risky move and may result in a business owner losing their savings if the business fails. Many startup founders also lack the spare cash to invest in their ventures—much less enough to start or grow a business without additional funding.

Friends and Family

Alternatively, startup owners may consider borrowing money from friends or family to get their business off the ground. Borrowing cash from family eliminates the need to meet traditional qualification requirements, but the approach does come with its own challenges. Before asking someone for a loan, a business owner should consider whether they’re comfortable entering into that kind of relationship.

Borrowing money from friends and family can complicate existing relationships, so it’s important to ensure all parties understand the terms of the loan. To reduce future conflict, startup founders should get the loan agreement in writing, including the loan amount, interest rate, repayment terms and other factors.

Crowdfunding

Crowdfunding offers startup founders a way to raise funds for their business without having to borrow from a traditional financial institution or friends and family. Business owners can start a crowdfunding campaign using an online fundraising platform like Kickstarter or Indiegogo.

Once the campaign is set up, users can donate funds that become available to the business at the close of the crowdfunding round. The business owner doesn’t need to meet any traditional qualification requirements, and donors do not receive any business equity in exchange for their generosity.

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Frequently asked questions (faqs), is it hard to get a startup business loan.

Getting a startup business loan can be more difficult than getting approved for financing as an established business. This is because most lenders gauge their risk of borrowing based on the financial stability and history of an applicant’s business. When considering a new business’ application, financial institutions must instead base lending decisions on business plans, revenue projections and other theoretical information.

Therefore, it is imperative that startups take time to draft a comprehensive business plan that demonstrates their ability to make on-time debt payments. Startup owners also can increase their approval odds by waiting to apply for a loan until after they can demonstrate established revenue.

How do I qualify for a business startup loan?

Lenders typically look at a business owner’s personal and business credit scores to evaluate whether they qualify for a business startup loan. Many startups, however, are too young to have an established credit score, and financial institutions must rely solely on the applicant’s personal score.

In addition to credit scores, lenders look at a range of documents to gauge the business’ financial stability and the risk of nonpayment it poses. Common requirements include tax returns and other financial records, as well as a business plan and necessary business licenses, registrations and legal documents.

Is it possible to get a startup loan if I have bad credit?

It is possible to get a startup loan with bad credit, but it’s more difficult than for better-qualified applicants. Prospective borrowers can bolster their loan applications by developing a comprehensive business plan that specifies how the company plans to make money and describes the business’ marketing strategy. Some financial institutions also specialize in lending to low-credit borrowers, but these loans may come with higher interest rates and origination fees.

How much can I get for a startup business loan?

Some small business lenders may be willing to issue microloans of $50,000 or less to startup businesses. Other lenders may be willing to offer you a larger loan, but it can be difficult to find those lenders.

What credit score do I need to get a small business loan?

Small business lenders generally require a credit score of 620 or higher to be approved for a loan. Banks often have stricter credit score requirements of 680 or higher.

Get Forbes Advisor’s ratings of the best lending platforms and helpful information on how to find the best loan based on your credit score.

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Kiah Treece is a small business owner and personal finance expert with experience in loans, business and personal finance, insurance and real estate. Her focus is on demystifying debt to help individuals and business owners take control of their finances. She has also been featured by Investopedia, Los Angeles Times, Money.com and other financial publications.