Are you looking for an idea for the best small business to start in 2023? Here is a story about a simple business idea from 2010, when one of Warby Parker’s founders lost his glasses on a backpacking trip. He was shocked at the high prices he was quoted, and it inspired him to sell vintage-inspired eyewear online at prices that were significantly lower than those of traditional brick-and-mortar stores. He saw a problem and came up with a solution, which you can do, too.
Here are seven digital services and e-commerce small business ideas to explore this year.
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Digital marketing or social media consulting
As more businesses move online, the need for digital marketing and social media expertise continues to grow. Starting a consulting business in this field could involve helping businesses develop and execute strategies for increasing their online presence, building their brand, and reaching new customers through social media platforms and online advertising.
No specific educational background or certifications are needed: the field is open to anyone who has the skills, knowledge, and drive to succeed.
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Graphic design
There is also a growing demand for skilled graphic designers who can create visually compelling designs for websites, social media, marketing materials, and more. Starting a graphic design business could involve working with a variety of clients to create eye-catching designs that communicate their message effectively.
Fashion resale
Consumers are becoming more conscious of the environmental impact of fast fashion. So, the resale market for clothing and accessories is growing into one of the best small businesses for 2023. Starting a fashion resale business could involve sourcing gently used clothing and accessories from a variety of sources and then reselling them at a markup to consumers looking for sustainable and affordable fashion options.
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Crafting
Crafting made the list of the best small business in 2023 because of the trend of DIY and the maker movement. Starting a crafting business could involve teaching classes or workshops in various crafting techniques or creating and selling handmade items, such as jewelry, home decor, or clothing.
Trading with up to 90% profit
Since your hand-crafted goods will be unique and one-of-a-kind, they will have an emotional value for the buyer.
Vacation rentals
The vacation rental market is still going strong. It experienced a dip a couple of years ago but now re-entered the field of the best small businesses to start in 2023. Instead of purchasing or renting a property, consider alternative options, such as renting a room in your own home. Or you can reach out to friends, family, and acquaintances and manage their properties.
Collectibles
Collectibles, such as sports memorabilia, vintage toys, and comic books, can be a profitable business. Start by sourcing and acquiring items of interest online and then resell them to collectors or investors.
Make it fun: research the prices, values, and trends of the collectibles you are interested in. And then join clubs, attend conventions, and participate in online forums to learn about new items in this niche.
Furniture flipping
Many people are looking for unique, vintage, and one-of-a-kind pieces to add to their homes. It’s one of the best small businesses to start in 2023 because of potential returns. You purchase items at a low cost, restore or repurpose them, and then sell them at a markup.
Besides, furniture flipping can be a creative and satisfying endeavor, as it allows you to take old and unwanted pieces and turn them into something beautiful and functional.
“It’s vital to innovate and adapt. Find creative solutions to keep your business fresh and up to date. Challenging times often require flexibility,” says Gareth Parkin, the founder of GoPromotional
Overall, starting a business in any year can be challenging, and in 2023, it is no different. However, with a good idea, hard work, persistence, and the ability to adapt, it is possible to turn a simple idea into a successful enterprise.
Sources:
2023 digital marketing trends & predictions, Think with Google
Resale is fashion’s most important growing sector, Glamour
How to start a vacation rental business without owning any real estate, Forbes
Furniture flipping for profit – how to run a successful side hustle, JungleScout
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