Women have business ideas just like men do. An increasing number of women are becoming their own bosses, launching new business ventures in almost every industry. The idea of working for yourself is attractive but where do you start? Find inspiration with this guide to the best business ideas for women.
Finding the Best Business Idea for Women
There are hundreds of ways to make money as an entrepreneur or small business owner. The challenge is finding the right business idea. It helps to compare multiple options and seriously consider which ones are a good fit for your interests, talents, and finances.
What to Consider Before Starting Your Own Business
About 20% of new businesses fail in their first year, often due to a lack of planning. Before launching a business, consider the following:
- Knowledge and skills
- Size of the market
- Level of competition
- Required technologies
- Operating expenses
- Capital and funding
Choosing the right business idea starts with your knowledge and skills. However, you also need to analyze the market to ensure that there is room for a new entrepreneur. You then need to evaluate the costs, including the cost of various technologies or platforms.
Determining What You Want or Need to Get Out of the Business
Do you want to achieve financial independence? Are you looking to generate passive income with minimal work? How much time do you want to devote to your new business venture?
The answers to those questions help you make the right choice. For example, if you want to keep your day job, you may need to choose an idea that you can do in your spare time.
Here are a few more questions to ask yourself:
What Do You Like to Do?
Many women choose business ideas related to their favorite activities. Choosing an idea that you are passionate about helps you stay committed to your business goals when things seem to go wrong. It also gives you more insight into the industry, which may help you get ahead.
What Are You Good at Doing?
Choosing an idea related to something that you are good at doing may increase your chances of success. For example, if you are good at writing, you may excel as a blogger or freelance writer.
What Would You Like to Learn?
You do not always need to find a business idea that relies on existing skills or knowledge. If you have always wanted to learn about a specific industry or job, now may be the time.
31 Business Ideas for Women
Bloggers make a living writing blog posts, either on their own websites or for clients.
Income: Millennial Money reports, it’s very easy to make an extra $500 – $2000 per month. And personally knowing many full-time bloggers who make over $200,000 per year. Working less than 30 hours per week.
To become a successful blogger, you first need to create a website where you can post your blogs. Choose a topic that you are passionate and knowledgeable about.
YouTubers are video content creators who make money by posting videos to YouTube. You earn money through ad revenue, which requires you to build a loyal following.
Income: The average income for a YouTuber with 1 million subscribers is $57,200.
Becoming a YouTuber requires you to create original videos using quality video and sound equipment. Start creating informative videos that provide helpful information as this helps you build your following.
3. Children’s Book Writer
A children’s book writer writes books aimed specifically at kids. These writers often use a minimal amount of words to tell stories that inspire or educate.
Income: Depending on years of experience, salaries range from $42,000 to $74,000.
To become a children’s book writer, start researching the market by reading other children’s books. Without previous experience, you may need to self-publish your first book on a personal website or through Amazon.
4. Affiliate Marketer
Affiliate marketers make money by promoting products or services on their websites. You earn a commission for each sale that originated from your website.
Income: Affiliate income can be difficult to quantify. This is because there are lots of factors that can come in to play when calculating potential income. Things like experience, budget, influence, platform, etc. Because of this it’s not uncommon to see a range in monthly income form a couple hundred to a few million.
Create product reviews or informative articles on a personal website to encourage visitors to purchase specific products or services.
5. Freelance Writer
Freelance writers create written content for paying clients. As a freelancer, you may write blog articles, website copy, advertising copy, guides, and marketing material.
Income: Most freelance writers in their first year can make at least $35,000.
To become a freelance writer, look for entry-level job opportunities online. You grow your portfolio with each job that you complete, which helps you land higher-paying gigs.
Proofreaders read written content produced by other writers. They look for grammatical errors and ensure that the content meets specific requirements.
Income: $52,202 is the median proofreader salary in the United States.
You can start as a proofreader by accepting freelance proofreading jobs online. With experience, you may seek employment with a publisher or marketing agency.
7. Amazon FBA Seller
Amazon FBA sellers make money by selling new or used items on Amazon. This can include virtually any product that does not violate Amazon’s policies.
Income: The average Amazon seller’s income in the United States is $61,929.
Choose a product that is in high demand that you can obtain for a low price and then sell it on Amazon for a profit. You first need to set up an Amazon account as a seller.
8. Flea Market Flipper
A flea market flipper looks for deals at flea markets and then sells items at a higher price to earn a profit. In some cases, the flea market flipper fixes or restores items to increase the value before selling.
Income: With a full-time effort you can take this side hustle to well over $100,000. Like my friends over at Breaking The One Percent.
To become a flea market flipper, look for flea markets in your area. Buy cheap items and resell them online. Use the money that you earn to reinvest into your venture and purchase more items to flip.
9. Real Estate Investor
Real estate investors purchase residential or commercial properties and earn money by flipping the properties or renting them out.
Income: National Average $123,937.
The first step is finding a profitable property. After you sell the property, reinvest the profits to purchase additional properties.
10. Life Coach
Life coaches offer one-on-one advice to clients, helping them work through specific challenges. There are life coaches who help people manage their eating habits or finances.
Income: A certified life coach salary range is between $27,019 – $210,933.
Completing a training program can increase your chances of success as a life coach. Many life coaches also create blogs, allowing them to build more awareness and establish themselves as reliable sources for life coaching.
11. eCommerce Business Owner
eCommerce business owners sell products through websites. The products may include items purchased through other retailers and then shipped directly to customers using a process called drop shipping.
Income: This business idea changed my life forever. Last year my eCommerce store generated in revenue. At the time of write this post I have yet to file my taxes but I anticipate 30-40% profit.
To sell products online, you need to find a profitable niche market and a supplier that offers products at low prices. You then need to set up an eCommerce website and use online marketing to attract shoppers.
Artists sell original paintings, sculptures, and other forms of media. Some artists work on commission and create specific pieces of art for clients.
Income: The median salary for artists is $43,000.
Start selling your art online to grow your portfolio. This may allow you to attract additional buyers or clients for commissioned artwork.
13. In-Home Childcare Provider
In-home childcare workers offer childcare at their private residences. They take care of children throughout the day as with a traditional childcare facility.
Income: ZipRecruiter is seeing annual salaries as high as $59,000 and as low as $15,000.
Before caring for children in your home, you need to complete the licensing process in your state. Most states also require a home inspection, CPR training, and first aid training.
Photographers sell photos. This may include commissioned photographs or original photos. Some photographers offer their services to the public, such as a studio photographer or wedding photographer.
Income: Salary.com reports, median Photographer salary in the United States to be $65,339. With the range typically falls between $51,983 and $73,921. Range depends on factors, like education, certifications, additional skills, and experience.
Start uploading photos to stock image websites. Stock image sites pay photographers when customers download the images for commercial use.
15. Etsy Seller
If you enjoy making handcrafted items, consider selling them on Etsy. Esty sellers make original items that they showcase on the website.
Income: Jami King made around $37,000 profit before taxes. Her first year selling on Etsy.
Research products on Etsy to find which categories receive the most traffic. Create an Etsy account and start selling your original items to people from around the world.
16. Interior Designer
Interior designers work with clients to improve the aesthetics of specific rooms or spaces. This may include rearranging furniture, purchasing accessories, and adding decorative items.
Income: The average salary for an interior designer is $61,729 per year in the United States.
Start by earning a degree in interior design. For increased success, complete the National Council for Interior Design Qualification exam.
17. Graphic Designer
Graphic designers create visual elements for a wide range of clients and industries. Examples include graphics and illustrations for websites, designs for T-shirts, and marketing material.
Income: Average Graphic Designer Salary $45,144.
Earn a degree in graphic design and then look for internships or entry-level positions. If working independently, build a portfolio to show to potential clients.
18. Content Creator
Content creators are responsible for creating written, visual, or audio content for clients. Examples include writing blog articles or marketing material, creating video presentations, designing infographics, or converting written content into a podcast.
Income: Content creator income ranges widely because it’s dependent on a few factors. Two of the biggest being content quality and audience size. These factors can determine if a blogger, YouTuber or podcaster earns $0, six figures or millions.
Content creators often start as freelancers, accepting individual contracts for specific tasks. Choose an area of specialization, such as graphic design or marketing, and then look for job openings in the field.
19. Social Media Manager
Social media managers manage social media profiles for businesses or entrepreneurs.
Income: An Experienced Social Media Manager earns an average salary of $63,294 per year, with the top earners reaching $97K.
To become a social media manager, you need a marketing background. Consider seeking employment with a marketing agency or advertise your skills as an online marketer.
20. Event Planner
Event planners coordinate plans for professional meetings or public events.
Income: The average Event Planner salary in the United States is $65,006. But the range typically falls between $56,359 and $75,484.
Gain planning experience by accepting an entry-level position and obtain a certification in event planning. After completing these steps, you may find it easier to attract your own clients.
Tutors help children understand topics that they find challenging. A tutor can help students improve their grades or grasp complicated assignments.
Income: The average annual salary for a full-time tutor is $46,000.
Becoming a tutor requires specialized knowledge of the topics that you want to teach. It helps if you have a relevant degree related to the topic. You can solicit your services online or search for entry-level jobs in the field.
22. Music Teacher
Independent music teachers offer their services to teach individuals how to play specific instruments. Common choices include the piano, violin, drums, or guitar.
Income: Average music teacher salary $42,715.
To become a private music teacher, start advertising your services online. You can also try to attract clients using social media. With experience, you may seek employment through a school or private organization.
23. Personal Trainer
Personal trainers work with people to help them reach their fitness goals. Trainers may work independently or through a gym or fitness facility.
Income: Hourly rates range from $10 to $50 an hour. Annual salaries range from $28k to $81k. The median annual salary is $56,875.
Earn a certificate in fitness instructing from a gym or a degree in health or fitness. Some personal trainers start by accepting a job at a gym to build their client base before working independently.
24. Massage Therapist
Massage therapists treat clients by manipulating their muscles and soft tissues to relieve pain or discomfort.
Income: The U.S. Bureau of Labor Statistics (BLS) reports an average annual salary of nearly $42,820.
Many colleges offer massage therapy programs as part of an associate’s degree curriculum After completing the program and earning a massage therapist license, you can begin advertising your services.
25. Website Designer
A website designer creates websites for entrepreneurs or businesses. Web designers may also need to use graphic design and content creation skills to build professional-looking websites.
Income: According to Indeed.com the average monthly income for entry-level web designers is $3,035, which over the course of a year averages out to a salary of $36,420.
If seeking employment with a web design agency, you may need advanced education. As an independent website designer, you can start looking for freelance contracts online or advertise your services through a blog.
Private accountants manage finances for clients. This may include preparing financial records for tax purposes or auditing business books for discrepancies.
Income: Salary for accountants with a bachelor’s degree and one to three years of experience is $64,250.
Most accountants start in this field by earning a bachelor’s degree in accounting or finance. To increase your career prospects, pass the CPA exam to become a Certified Public Accountant.
Crafters make handcrafted goods and sell them to the public. Examples include handcrafted jewelry, clothing, and decorations.
Income: The national average salary for a Crafter is $71,727 in United States.
Start making original items and selling them online or at local markets.
28. Online Boutique Owner
Online boutique owners are online retailers. They sell a wide range of goods but often specialize in a specific area such as clothing or accessories.
Income: In 2018 the average retail store owner is set to make around $51,000 per year, with a range of $23,751 to $140,935 depending on location and on variables.
Choose a profitable market, such as an online clothing boutique. Start purchasing products at low prices to build your inventory and then build a website using an eCommerce platform such as WooCommerce.
Coders are software developers. They develop software applications for clients or work as part of a team to complete software projects.
Income: As of Apr 29, 2020, the average annual pay for a Freelance Programmer in the United States is $70,714 a year.
Earn a degree in computer science and practice your coding skills.
30. App Developer
App developers create original mobile applications for entrepreneurs or businesses. This may include mobile apps for business processes, customer service, or fun and entertainment.
Income: For freelancers, the average yearly salary is $104,000 with a range between $79,000 — $130,000 per year.
Most app developers have at least a bachelor’s degree in computer science or programming. You should also become proficient in multiple programming languages. Create your own app to showcase your skills before taking on clients.
31. Wedding Planner
Wedding planners assist with the management and design of a client’s wedding. They negotiate contracts and handle interactions with vendors to ensure that the wedding runs smoothly.
Income: Top wedding planners can earn over $120,000 every year.
Many wedding planners start in the field by working for other wedding planners. This allows you to learn the tools of the trade. You can also market your wedding planning services through a personal website.
Along with the 31 business ideas for women listed, there are dozens of other options. No matter what you choose, make sure that you do your research. Learn more about your top competitors and the needs of your customers.
If you avoid rushing into your new idea, you have a better chance of becoming a successful businesswoman.