Are you looking to start a new business in New York and scale it in the shortest time possible? If so, you have come to the right place. In this article, I talk about seven (7) business ideas you can start in New York City (NYC).
Why Start a Small Business in New York?
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Why should you start your new business in NYC, when there are hundreds of other cities out there to do so?
One of the core reasons why your startup should be based in New York City is because of the thriving economy. Often called the “business capital of the world,” New York City is popular for its thriving economy.
The city is also popular for playing host to tens of startups that have taken over different parts of the world with their revolutionary business approaches. On the list of successful startups launched in NYC are:
In addition to those, NYC has a large population of over 20 million people. So, you have lots of people that can fall into your target market in the city.
Small Business Ideas for New York City Entrepreneurs
So, what are you waiting for? Let’s dive into the 7 different small business ideas you can start in the city.
The fact is that a city with over 20 million people living in it has lots of needs to be met. One of such is delivery. Whether it is food or home equipment, there is a need to make the delivery of goods and services easier for the residents.
Let’s take the most popular (food delivery) for an instance. You can start a logistics company that sees to the picking and delivery of food to customers both at their homes and offices.
You may also consider investing in a food delivery van that would be strategically located near the location of your target market. With just a call, the delivery will be made.
This small business idea is not just for entrepreneurs looking for less capital-intensive businesses to start in New York City. It is also open to those who are looking to offer its services to as many NYC residents as possible.
Mobile-based businesses like saloons and food trucks are great. This way, you offer services on the go and get to reach more people who for one reason or the other, may not be static at a location.
3. Become a Broker
It is impressive to note that intermediary-based businesses still thrive in this time when decentralized transactions are gradually stealing the show. A great way to make the most out of this is by becoming a broker in New York City.
As a broker, you can be an intermediary in one or more business transactions. This includes being a:
- Business Broker: Helping established businesses with the solutions they need at any particular time.
- Insurance Agent: You can become an insurance broker or agent. Your role is to connect prospective policyholders to the insurance companies. You make income from the percentages accruable to you as the agent.
Moving around New York City (NYC) can be a pain for residents, especially those who recently moved to the city. With access to cars, this pain can be relieved.
Therefore, it may be worth the investment to start an auto or car rental service in the city. Your target customers include:
- Top business executives looking for chauffeur-driven vehicles.
- Tourists looking to see as many parts of the city in a day.
You can as well start a vacation rental business and make a lot of side income in New York if your apartment meets the standard to be listed.
5. Open a Daycare Center
If you are looking for a low-cost, stay-at-home business to start in New York City; I have one for you. It is a daycare center. Every day, thousands of NYC parents move out of their houses early in the morning only to return later in the day. Only a few have time to look after their newborns.
This is where you come in as a daycare center owner. Your center can be a hub for taking care of newborns and children below the age of 5. The demand for this service is high and the target market (parents) would only be too grateful to have someone keeping an eye on their little ones while they go about their daily activities.
6. Become an Internet Flipper
Flipping on the Internet simply means buying and selling web properties, such as domain names and websites. You can start this business, even from your home. All you need are:
- A laptop or PC
- Access to the Internet
- Market research to identify niches that could be profitable over time.
- Take action to register the domain name and if possible, create a website.
- Wait for a couple of months or years before transferring ownership of the web property to someone else and get paid.
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Some pet owners in New York City (NYC) continually look for pet-walkers to relieve them of the stress of taking their pets for a walk.
As a pet walker, your services include but are not limited to:
- Grooming the pet.
- Taking the pet for a walk.
- Feeding the pet.
- Training the pet.
You may not have all the money in the world or a grand business idea as the likes of Shutterstock or Tumblr. Yet, the little business idea you have, if well implemented, can snowball into the “next big thing” in NYC. Take a cue from the list and start a successful small business in New York City (NYC).