Business

Best Business Ideas for Young Parents

Entrepreneurship is growing, with more and more people wanting to take control of their professional lives to achieve a better work-life balance. Young parents are no exception, wanting the flexibility to spend more time with their children. 

Here we’ll cover some of the best business ideas for young parents.

Upcycled Furniture

Upcycled items, particularly furniture items, are increasingly popular as people seek to reduce their environmental footprint. If you have a creative eye and some tool skills, you could find old furniture at flea markets and garage sales and give it new life. You could sell it locally by posting it on a site like Facebook Marketplace, or you could open a small furniture shop. Profit margins would be high since you’d be getting the old furniture for low prices. 

Candy Making

If you like to have fun in the kitchen, a candy making business could be a great venture, and your children could even be involved. Startup costs are low, and you could sell it in a variety of ways, including from an online store or by partnering with local markets to sell your goodies. The demand for candy is always high, with the market worth more than $12 billion in the U.S., so your business could have huge potential to grow. 

Dropshipping

Dropshipping is a great way to get into e-commerce without having to spend money on inventory. Dropshipping works by partnering with a manufacturer of whatever products you choose to sell. You’ll then set up an online store, and when you receive customer orders, you then place the order with the manufacturer, who will ship the order directly to the customer. You’ll earn the markup that you charge on the products.

Trendy T-Shirts

By investing in screen printing equipment, you can design and make t-shirts from your home and sell them online. You could choose to make t-shirts that have a certain theme, or you could quickly capture trending phrases or images and get them to market before anyone else does. Screen printers can be purchased for just a few hundred dollars, and you could buy blank t-shirts in bulk for only a few dollars each.

Childcare

Busy parents who work outside the home need childcare services they can trust and rely on, so if you don’t mind having a few extra kids around, you could start a childcare service in your home. Startup costs are low, as are the ongoing costs, so you’d have a good profit margin. At an average price of $200 per week per child, the money would add up nicely.

Social Media Management

Social media managers develop and implement social media strategies for businesses. Even if you don’t have experience in the field, you could take some online classes and start your own social media management business. You could connect with local business owners online to find some clients, and you could run your business from home. You can generally charge $30 to $50 per hour, or you could have a set monthly rate for full service social media management. 

Pet Services

Americans spend more than $130 billion annually on their pets, and that includes services like pet sitting, dog walking, grooming, poop scooping, and even pet taxi services. If you’re a pet lover, you could build a lucrative business by offering one or all of those services. You could set up shop to perform some of those services in your home, or you could open a little pet spa. The possibilities are numerous!

Content Marketing

Content marketing is one of the most effective ways for businesses to increase their online presence. It involves creating a strategy and content that’s relevant to the target market of the business. You could write the content yourself, or hire freelance writers and pay them by the word or the hour. Companies spend between $2,500 and $75,000 per month for content marketing, so you could make a nice living.

Event Planning

If you love entertaining and planning parties or other events, you could follow that passion to the bank by starting an event planning business. Event planning is a $3 billion industry in the U.S., which includes wedding planning, planning corporate events, and putting together charity events. Startup costs are very low, and you could make 15% to 20% of the total cost of the event, which could add up quickly.

Bookkeeping

If you have bookkeeping experience, you could start your own business from home, helping local businesses or businesses anywhere in the country by working virtually. Bookkeeping services typically charge between $500 and $3,000 per month, depending on the complexity of the job. If you can just find five clients, you’d have quite the thriving business. 

In Closing

Entrepreneurship can be very rewarding, and it’s a wonderful way for young parents to be in control of their time and create a better work-family balance. Running a business, particularly from home, is also an opportunity to teach your children valuable business skills. To choose what business to start, the best idea is to follow your passion. Your goal should be to get up every morning excited to work, as well as to enjoy your new family. 

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