Editor’s note: This article was first published in April 2013, and its prices are from 2013: under €90 in wax and equipment for candles, and €100-150 for a finished blog. Some services it names are gone, including Google+ (shut down in 2019) and Skype (retired in 2025).
Most successful business people started out as teenage entrepreneurs. In a previous article we looked at how to encourage an entrepreneurial spirit in children. Clearly, many teenagers want to get into business; what they need is the idea.
That’s why we’ve picked 6 business ideas that many of today’s millionaires used to raise their first bit of capital. And although we’ve aimed these ideas at young people, older people could choose one of them too.
What businesses can a young person start while investing next to no money?
1. A “premium” errand service
At first glance, many people will think this isn’t a business. But if we look around our neighbourhood, we’ll always find older people and people who are short on time. Picking up suits from the dry cleaner, taking a parcel to the post office, carrying an elderly woman’s shopping home from the supermarket so she doesn’t have to lift anything heavy… I once read that one of the world’s biggest courier companies started this way, although here we won’t be thinking about that, just about earning money by helping others. That’s what business is: selling a product or service that has potential customers and meets a need. We have both requirements, and you set the price.
2. Social media for small businesses
Young people today, born in the middle of the tech boom, have a natural command of social media without needing to go to university. Many of them are already equipped to be a “community manager”. There are probably small shops in your area that have never considered having a social media presence because they think it wouldn’t pay off, but for a modest fee and a good explanation, you could show them that even when you sell in a small neighbourhood, there’s something to be done on social media.
As you gain experience in social media, you can start aiming for bigger companies. I’m sure many of the agencies offering this kind of service today started out by offering it to small business owners they knew. How to get your first clients: knock on their doors one by one.
See also: 4 work experiences worth more than an MBA
3. Internet and social media for older people
Many older people are alone and bored at home. Some would like to meet people online but don’t know where to start; others would like to find a partner but lack even the most basic know-how.
Although there are centres that teach people like them how to use the internet and all its services, you can make a difference by offering a personalised service. Let’s call this business idea “tech advice for seniors”.
You can teach them how to create social media profiles, how to use chats and Messenger, and even sign them up for dating sites. Who says older people wouldn’t be interested in the same entertainment younger people enjoy?
4. Making homemade candles
For less than €90 in wax and equipment, anyone can start a candle-making business (plain, scented, decorative…). With a little creativity, and by following the steps any good business owner should follow, this really could be a profitable business.
Who do I sell the candles to? You can sell them to your neighbours and friends, and if they’re scented candles, plenty of massage centres would love the idea. You can even sell them in shops or on eBay. This product sells, so if you’re willing to do the necessary legwork, the income might surprise you.
See also: Finding investors for your business: how to fund your project
5. Web design and blog services
Back to technology: many people want a personal blog of their own, just as some small businesses are thinking about setting up a website.
If you know this field well and charge a reasonable price, there’s a business niche here. Remember that not everyone wants to spend two days learning how to build a blog, and they might be willing to pay €100 or €150 to see it finished. Likewise, if your skills are even more advanced, to the point that you can set up a simple online shop for a small business, you’ll face competition, but winning your own small slice of the market will depend on your sales skills.
6. Other services
There are many ways to make money from our skills, or by doing what customers don’t want to do themselves, such as cleaning their garage, storage room or house. Babysitting is also still in demand, but what if, as well as offering to babysit, we offered to teach the child something while we look after them?
In our article on profitable micro-businesses, we described real cases of people who were making money, to the point that for many of them it’s already turning into a business: private lessons via Skype or Google+, selling handmade woollen clothing, customised sneakers with hand-drawn designs, handing out advertising leaflets, and so on.
See also: 9 home-based business ideas
Featured image: WillieWax, CC BY-SA 3.0, via Wikimedia Commons.
