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12 Best Business Ideas in New York

Written by:

Edited by:

Reviewed by: Daniel Javor

Published on September 29, 2022

Updated on November 12, 2022

12 Best Business Ideas in New York

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12 Best Business Ideas in New York

New York is the largest city by population in the US. Its smallest but most densely populated borough, Manhattan, is among the world’s biggest financial, commercial and cultural centers. It continues to attract businesses, from entrepreneurs pursuing their dreams to large companies seeking to penetrate the global market. 

One of the sectors that drive growth in the entire New York state is professional and business services, so you might want to consider starting a meal preparation, commercial cleaning, tutoring, or coaching business. We’ve put together some business ideas in New York. Find out if anything motivates you.

1. Meal Prep

How to start a meal prep business

People are busy these days, and always on the look-out for more convenience. That’s why meal prep is one of the fastest growing industries in the United States. If you’re good in the kitchen and would like to share your tasty creations with the world, you might consider starting your own meal prep business.

It doesn’t cost a great deal of money, because you can start the business in your home and online. You could offer on-demand dishes, for people just looking for a healthy dinner they can pop in the oven. You could offer goal-oriented meal plans, for people with dietary concerns and limitations. Or you could offer fully prepared meals, such as sandwiches and burritos, that people can store and eat whenever they choose. Or you could get really ambitious and offer all of the above!

The key, of course, will be creating affordable, healthy dishes that appeal to your local market. If you can do that, you’ll be well on your way to meal prep success.

2. Recruiting Agency

How to start a recruiting business

If you’re an entrepreneur, you know just how tricky hiring can be. You’ll think you’ve found the perfect new staffer, but within a few weeks he’s made every mistake in the book. That’s why recruiting services are so valuable, and why employee and executive recruitment is a growing multi-billion-dollar industry in the US. Few businesses have the time and resources needed to conduct a thorough search, do the proper vetting and narrow down the list of candidates. And that’s where you and your recruiting business come in. 

Getting started is relatively simple. You’ll need to be good at understanding what people want and how they’ll respond in certain situations, and it helps if you have significant experience and a sizable rolodex in a certain field. But even without that, you can reach out to your own network and take a wide variety of recruiting classes online. With some serious study and determination, you could soon be recruiting executives for Fortune 500 companies.

3. Babysitting

How to start a babysitting business

If you think babysitting is just for teenage girls, think again. It’s a chance to make good money while making a real difference — helping out families in need and shaping and caring for young minds. It can also be a lot of fun! What could be better than that? 

Childcare is a growing industry that offers a variety of opportunities for the entrepreneur. You could babysit in your free time to add another income stream, or you could go full-time and launch a babysitting business that offers all-day care and nannying. Your first step should be to register with your local government as a provider of childcare services, and once that’s done nail down your service offerings and prices and start your marketing. 

You could reach out to friends, family, acquaintances and work colleagues, making clear your reliability and availability. Once you’ve gotten a client or two, jump on social media and start hyping your babysitting skills on Instagram, Facebook, Twitter and beyond. You could soon have so many customers you’ll have to turn some away! That’s the best kind of business problem.

4. Tutoring

How to start a tutoring business

Do you have an area of academic expertise? Maybe you’re great at math, deeply familiar with science, or obsessed with language and literature. Even if you’re not a subject expert, but simply good with children, now’s a great time to consider starting a tutoring business. 

The industry took a hit during the pandemic, but today many tutors are embracing virtual instruction and tutoring is expected to see steady growth in the years ahead. As a result, you’re now able to run a tutoring business almost entirely from home, all while helping children to learn and excel and making a good living.  

Starting a tutoring business is not terribly complicated. If you have teaching experience or some proof of your expertise, you mainly need a good computer and you can start offering your services on a variety of online platforms, like ClubZ or eTutorWorld. With a bit of marketing on social media, you should be able to attract a few clients and start building your tutoring empire.

5. Seminar Organization and Production

How to start a event venue business

Starting your own seminar business can be a great way to share your knowledge with other people and make some money while you’re at it. Training expenditures in the US are expected to increase now that the pandemic is winding down. The market saw significant growth in the years prior to the pandemic, but declined as companies slashed their budgets. It is still a huge market, with more than roughly $80 billion in revenue in 2020.

Starting a seminar business is relatively easy if you already know your area of expertise. For example, if you are a fitness expert, you can create an event where people learn how to get in shape by giving them advice on nutrition and exercise. You can also do a webinar if your topic does not require face-to-face training. Most of the seminars outsourced by American companies involve content creation, learning management system hosting, and instruction and facilitation. You’ll be up against some tough competition, so you should have the patience and perseverance to build a successful business.

6. Lip Gloss Line

How to start a lip gloss business

With over $18 billion in annual sales, the cosmetics industry is big and seeing strong growth. If you’re into makeup and style accessories, lip gloss could be the right venture for you. You could work from home and help women everywhere look good while grabbing a slice of this massive market. 

The first step is to choose products that fit your niche. Maybe you’d like to target a younger market with glitter-filled or fruit-flavored lip gloss? Or you might prefer a more established demographic, and choose sleeker, more subtle glosses. Next you’ll need to buy all the necessary materials and gloss-making equipment and brush up on your skills, possibly with a few of the many free online courses. One key hurdle will be gaining FDA approval, which is generally required for cosmetics business and may include lab testing of your lipgloss. 

But with FDA approval, you’ll be able to market your stunning lipgloss to a huge market, possibly on Etsy or Amazon, and could see steady sales almost from Day One.

7. Bakery

How to start a bakery business

Who doesn’t love homemade baked goods, fresh out of the oven? If you often find yourself elbow-deep in flour, now’s a great time to take the next step and become an entrepreneur. Despite the anti-carbohydrates trend, the US baking industry has been growing for years and is now worth more than $12 billion. You could open your own bakery, or start a home-based baking business, and share your delicious culinary creations with the world while also making a good living. 

But starting a baking business can be tricky, and there are several hurdles before you can start. You’ll need to nail down a handful of absolutely fantastic baked goods that will keep people coming back. You’ll need to outfit your kitchen, or your new bakery, with all the right equipment and ingredients. And of course you’ll also need to pass health checks and government licensing required for food businesses. 

After that, you’ll just need to start marketing your tasty treats and, with a bit of luck, you’ll soon have too many orders to fill!

8. Commercial Cleaning

How to start a commercial cleaning business

Living and working in a clean environment is good for mental health, but many Americans are too busy to clean their homes and offices. That’s why starting a commercial cleaning business is an excellent choice. 

The cleaning services industry in the US is projected to grow 10% in annual earnings over the next five years. The industry currently employs nearly two million people. More jobs are expected to be created because of the increase in demand, particularly among the single-person households. 

When starting a commercial cleaning business, it is important to differentiate yourself from the competition. You can do this by offering eco-friendly services with the use of green cleaning products, tools, and techniques. Instead of chemicals, you can use baking soda, vinegar, lemons, and more. Green techniques include reusing old toothbrushes and plastic bottles, and upcycling magazines. You will also need to make sure your business is legally compliant before you can start accepting clients. If you plan carefully, your commercial cleaning business can provide you with a sustainable income.

9. Gym

How to open a gym business

As the US economy recovers from the pandemic, gyms and fitness centers are also expected to reopen and bounce back. The gym, health and fitness clubs industry is poised for a modest growth and expected to earn more than $36 billion in 2022. Starting your own gym business can be very profitable and rewarding, too. 

Setting up a gym can be a breeze if you’re motivated and have a clear idea of what it will offer and what you want to achieve. You will need to invest in exercise equipment, choose a location that is accessible to potential customers, and secure the necessary permits and certifications. An option is to get a franchise or buy an existing fitness center. You will also need to identify a target market. There’s an increasing number of younger people who want to get fit and healthy, so you might want to direct your advertising and marketing efforts to this demographic. Don’t forget the older fitness buffs, though. Their number is also increasing.

10. Business Coaching

Coaching Business

Not long ago, there were only a handful of coaching firms in the United States. Today there are more than 2,200 and the coaching industry is worth more than $11 billion and still seeing strong growth. Americans have learned to appreciate the value of good insight and planning, particularly when it comes to major decisions involving their finances, career and personal matters. 

If you have expertise in any of these areas, you could start your own coaching business and help people lead more fulfilling lives while grabbing a slice of this fast-growing market. It’s easy to get started. You just need a reliable computer, some relevant experience and a strong marketing campaign, highlighting your skills on social media and beyond. 

The challenge will be attracting and maintaining clients, so you’ll need to find a way to stand out from the coaching crowd and prove your worth. A great website will surely help.

11. Stock Trading

Stock Trading

If you have been dealing with securities, you might want to consider starting your own stock trading business. Coming from a volatile year because of the coronavirus pandemic, the stock market is projected to make modest returns in 2022 and continue growing in the next several years. More than 40,000 jobs for securities, commodities and financial services sales agents are expected to be created per year through 2030. 

The first step in starting a stock trading business is to secure a license and become a member of a stock exchange. You can start small and trade from home. It’s important to make a business plan and come up with ways to differentiate yourself from other stock trading agencies in order to attract clients or investors. It’s wise to offer a diversified portfolio, research the market, monitor corporate and other developments that are likely to affect the stock market, and brace for any wild swings that could result in losses.

12. Rental Property

How to start a rental property business

Are you interested in real estate? If so, you’re probably well aware that the pandemic, even as it cratered other industries, has spurred record-setting growth in the US real estate market, with prices and sales totals as high as they’ve been this century. The market has cooled down slightly lately, but it’s still a great time to get in on the action — and one good way to do so is by starting your own rental property business. 

The concept is easy. You simply buy a multi-unit property, or a larger residential complex, and start making a steady income from renters, in addition to property appreciation and tax benefits. Of course you’ll need a significant investment to get started, but you also need to break some eggs to make an omelet. 

But you will of course need to decide what type of rental property you want to invest in. Are you interested in buying and managing properties yourself, or would you prefer to invest in a property management company? Next, research the market and find out the price range for the area where you’re looking to buy. Be sure not to overspend early on. Get started, get a feel for the industry in your area, and then start thinking about making bigger bets.