Creative business ideas

Great business ideas often stem from an entrepreneur’s attempts to solve problems they and others have experienced. Consider the following creative business ideas that may inspire your next venture. We’ve grouped them by category to make them easier to browse.

Business ideas for retirees

Online businesses 

Diane Eschenbach, an entrepreneur and author of How to Quickly Start a Business Online, said she thinks online businesses are a great option for retirees, as long as the entrepreneur doesn’t let technology intimidate them. She suggested curation sites, which aggregate information for easy reading, as one of the most accessible and engaging online business ideas to pursue. 

Consulting and coaching

Consulting and coaching are excellent business ideas for older entrepreneurs who can leverage their passion and experience. Skills from previous jobs and rich life experiences make retirees well positioned to share their knowledge. 

Mastermind groups

Members of mastermind groups meet regularly to collaborate and solve problems or issues by tapping into the group’s collective experience, skills and knowledge. As seasoned professionals, older entrepreneurs hold an advantage in this market. Owners of mastermind groups can generate thousands of dollars a month, depending on the size and location of the group and the premium they set for becoming a member.

Trendy business ideas

Food trucks

Over 36,000 food truck businesses exist in the U.S. as of 2023, representing an increase of nearly 10 percent from 2022. Although starting a food truck business means facing stiff competition and working long hours, it has a high potential for handsome rewards. And compared with starting a restaurant, the food truck business comes with relatively low overhead costs.

Yoga businesses

Yoga harnesses the best elements of fitness and relaxation to create a mind, body and spirit connection that rejuvenates and strengthens. Yoga studios find particular success in metropolitan areas with a young demographic, where they can expand their offerings to include food, beverages or yoga accessories.

3D-printing businesses

What once seemed like a high-tech, futuristic device is now a reality: 3D-printing applications allow users to create physical objects at home and act as low-volume manufacturing machines for small businesses. As a business itself, 3D-printing companies can create templates for 3D-printer owners to use or print toys, parts and other objects for clients. 

Low-cost business ideas are usually service-based models. Product-based businesses typically have higher overhead. Fashion-related business ideas could fall into either category: You might provide a service, like fashion coaching, or a product, like fashion illustrations.

An interior design service is also an excellent home-based business idea with few startup costs.

Death-centric business ideas

Murder-scene maids

Captivated by the macabre? Have a strong stomach and a penchant for dirty jobs? If so, a biohazard cleaning company might fit your interests well. Baxter Restoration, a cleaning and reconstruction company in Orlando, Florida, offers biohazard cleaning services and may present a jumping-off point for entrepreneurs who are interested in a similar idea. Baxter Restoration specializes in blood, crime scene, meth lab, and hoarding cleanup and restoration to create a habitable space.

Biodegradable coffins

A biodegradable coffin company appeals to the rising demand for environmentally friendly and sustainable products. Biodegradable coffins reduce the carbon footprint of the funeral home industry and offer an affordable alternative during a challenging time in many people’s lives. Your business would also have a natural tie-in to Earth Day every year.

Carbon-free cremation 

Also known as flameless cremation or alkaline hydrolysis, this process uses water to turn the body to ash. Much like environmentally friendly coffin makers, purveyors of flameless cremation reduce carbon emissions and energy, and they don’t use fossil fuels. If you’re concerned about climate change, this could be an impactful venture for you.

Not every business idea is a winner. If you’re wondering if you have a bad business idea, consult a trusted expert for advice, look at your sales and evaluate your market niche.

Business ideas for the senior market

Financial planning

Building and promoting financial education resources online for the senior market is a strong idea if you’re passionate about financial literacy and serving an older generation. In addition, you may find success in asset management for retirees by helping clients understand the lifestyle they can afford after retirement.

In-home care

The in-home-care market exists for older adults who choose not to move to a senior living community but struggle to keep up with grocery shopping, the maintenance of their residences, and other self-care activities. While they are not incapable of performing the activities of daily living, these older adults need a little help ensuring their safety and comfort. This would be a great fit if you have experience as a caregiver or personal assistant.

Selling or storing possessions

If an older adult stays in their home, they may purge their possessions. A business that helps seniors sell or store possessions fills a desperate need and joins a busy niche. Self-storage caters to people who may want to keep family heirlooms, but not in their homes. Retail helpers and antique sellers who assist in selling vintage possessions will most likely serve an older market or interact with their adult children after their parents’ death.

Ways to find business ideas

If you haven’t found a business idea that speaks to your skills and interests, consider the following ways to discover new business ideas.

Searching questions in subreddits

If you’re looking for new business ideas, you should review subreddits on Reddit and “Ask me anything” threads. Here, you can ask experts and celebrities questions that may lead to ideas for small or midsize businesses.

Talking to family and friends

Your loved ones can be helpful when you’re deciding what type of business to launch. Your family and friends usually know you best and can help you identify your strengths and how you might apply them when you start a business. Additionally, two (or more) heads are better than one for brainstorming.

Solving everyday issues

Are you a go-to problem-solver for specific issues in your loved ones’ lives? For example, maybe friends seek your guidance when cooking new recipes, or perhaps family members reach out for fashion advice. If there’s an area of expertise in which you thrive, you could make a profitable business out of it.

Considering your hobbies and passions

Today, you can create a business from nearly any passion. For example, if you enjoy writing, you might consider launching your own publishing company or magazine. If you love baking, you can start your own bakery. Consider the hobbies and interests that set your soul on fire and how you might capitalize on them. Pursuing your passions will also keep you motivated when business is slow because you’ll genuinely enjoy your work.

Analyzing Pinterest comments

If your talents lie in identifying or creating the next great must-have product, use a Pinterest account to get inspiration. Pay attention to the comments section on pins related to your passion or a niche industry to spark new ideas.

It’s a good idea to test your business idea before you launch your endeavor to ensure it’s viable. Gather feedback, and tweak your business model if necessary.