As the name suggests, startups are businesses that are in their initial stages. A startup begins with one or more individuals forming a business idea to fulfill a market demand with a single, unique product or service. The goal of a startup is to develop and grow into a revenue-generating business with the help of…
Starting a Business
What Is a Franchise & How Does It Work? SMB Guide
A franchise is a business model in which a parent company, or licensor, grants permission to a licensee to share its business concept. The resulting business, a franchise, helps the licensor expand while retaining control over products, delivery methods, marketing, and concepts. In return, the licensee receives an established product with permission from the franchise…
What Is a Business Model: Key Types & How to Create One
Every aspiring entrepreneur should have a roadmap—a strategy for growing their business from a core idea to a profitable venture. A business model defines an entrepreneur’s overall plan for making a profit, identifying its core product (or service), target market, value proposition, and strategy for sustainability. This guide will introduce you to the basics of…
Best Side Hustle Ideas
Side hustles are part-time jobs or businesses that you do in addition to your regular job. Nearly half of all Americans work a side hustle, with 30% saying they need the money simply to cover basic costs of living, according to a 2023 survey by Self1. Nonetheless, not all side hustles are about earning a…
Startup Costs Every New Small Business Owner Should Know
Though startup costs can vary from business to business, almost all new businesses will have at least a few expenses, such as getting a business license, setting up a website, and marketing. Some costs of starting a business are not required but are helpful, such as an initial emergency fund or equipment. For the simplest…
23 Simple Part-time Business Ideas to Try
Looking for a break from your nine-to-five job? Part-time business ideas are a great way to explore one’s hobbies and skills and turn them into income-generating activities. These businesses are often easy to set up and cost very little to start but don’t be surprised if they turn into a lucrative venture in the long…
19 Best Family Business Ideas in 2024
A family-owned business means a business started by two or more family members—it can be the web design business you start with your cousin or the jewelry-making business you run with your husband. Many families see it as a way to create generational wealth and security, but it can also bring you closer together as…
7 3D Printing Business Ideas to Try
In 3D printing, a special printer creates three-dimensional physical objects via an additive manufacturing process. 3D printing has been around in some form for decades, but only in recent years has the technology become so prevalent and so available that anyone with a few hundred dollars to spare can own a 3D printer at home….