Some mothers and daughters form a strong bond and end up as real best friends forever. Going into business together could cement that bond while providing a way to make big profits.
A mother and daughter team can start an event planning or party rental business. If you’re both updated with the latest beauty trends, you might want to consider starting a makeup business. A jewelry business sounds good too. Check out more mom and daughter business ideas below.
1. Party Rental
Let’s get this party started! As the pandemic recedes, lockdowns and restrictions are being lifted and people are finally getting out and about again, which is good news for the parties, gatherings and and other events. US party rentals is a $5 billion industry that’s expected to see sharp growth in the wake of the pandemic.
You could start a party rental business, grab a share of that vast market and help people have fun by providing tents, bars, bouncy houses, karaoke machines and more to people looking to have a good time. You could also offer more standard party supplies such as tables, chairs, tents, food and beverage carts. Whichever route you choose, buying the equipment will require a significant investment, but that’s the only major hurdle standing in your way. After that, you’ll just need to register as a business, set up an appealing website and let the good times roll!
2. Event Planning
The biggest events — weddings, reunions, graduation parties — are often moments that people never forget. You can play a key role in making memories for countless people by starting your own event planning business. As the pandemic recedes, the industry has been growing fast and is now worth $3 billion in the US alone, so the opportunity is real. If you enjoy organizing and planning, this could be the perfect venture for you — and now’s a great time to do it.
More and more people are looking to plan long-delayed major events, from weddings to reunions to memorials and more. You can grab a piece of this growing market with a bit of training, confidence and organizational skills. Starting an event planning business requires little investment, and event planners often make 15-20 percent of the total cost. So just imagine how good you’ll feel working from home while planning a $100,000 wedding reception!
3. Face Painting
If you’re an entrepreneur looking for a fun and creative way to start your own business, then starting a face painting business could be a perfect option for you! Face painting is increasingly being used for entertainment and this trend will continue in the coming years. It is a great way to connect with children and adults alike during Halloween, children’s parties and other special occasions. You might think it’s as simple as applying colors to the face, but there are endless possibilities when it comes to designs and styles.
To start your face painting business, you’ll need supplies. You can buy face painting kits online or at your local craft store. The basics include face paint, brushes, sponges, and water cups. Next, create a portfolio of your work. This can be done by photographing your finished face paintings or by videotaping yourself as you work. Finally, start advertising your services. Social media is a great way to reach potential customers, but don’t forget word-of-mouth referrals too! Friends and family are the best way to get started in any business.
4. Paintball Center
Paintball is fun, but did you know that you can turn it into a business? Market conditions are less than ideal because of the coronavirus pandemic, but paintball fields across the US are still expected to earn more than $1 billion in 2022. The game is so popular that major companies like Nike and Adidas have entered the market and designed shoes for optimal paintball performance. Other companies are sponsoring paintball tournaments.
If you’re already in the paintball industry, starting a paintball business is just a matter of choosing the right location for your paintball field, introducing innovations and marketing your business. If you’re starting from scratch, it would be best to decide first whether you will open a paintball field or just sell supplies and accessories. It’s also important to learn the game and its rules, join an online community of paintballers, identify your potential customers, and aggressively promote your business online even before your launch.
So you’ve decided to start a restaurant business. Congratulations! Opening a restaurant is no easy task, but it can be very lucrative. The food service industry in the US is expected to bounce back from pandemic slump due to pent-up demand and generate $900 billion in sales in 2022.
The pandemic, however, has reshaped the industry and many restaurant operators believe it would take a year or more before business conditions return to normal. But if you’re keeping track of the trends, you would establish a digital presence and work on offering delivery services before opening your doors.
There are many other things to consider. First, it’s important to decide what type of restaurant you want to open. Do you want to serve classic American fare, or specialize in a certain cuisine? Do you want to do casual or fine dining? What about a family-style restaurant? Next, it’s a good idea to research the competition in your area and come up with a plan to set yourself apart. Starting a restaurant can be tough, but if you’re prepared for the challenges ahead, it can be an incredibly rewarding experience.
6. Chocolate Making
Global consumption of chocolate, one of the most popular treats, is forecast to hit $200 billion by 2028. Setting up a chocolate business now holds a lot of potential for success. Chocolates have been associated with several diseases, but these have also been found to provide multiple health benefits. It has been found to boost levels of serotonin, which is also known as the happy chemical because it lifts up a person’s mood. Dark chocolate especially has been found to prevent depression.
Before you start a chocolate business, it’s a good idea to decide which segment you’ll focus on. Will you be selling different types of chocolates and chocolate-based confectionery products? You can also make the chocolates yourself, but you’ll have to decide what type of chocolate to make and how much you want to produce. Just make sure you will be offering something new and exciting to the palate so you can easily market your product.
7. Buying and Selling Gold
If you have been thinking about making a living buying and selling gold, you’re not alone. Starting a gold business can be lucrative, and it’s a business that is likely to experience steady growth in the years to come. Gold has been proven to be a long-term hedge against inflation and demand for this valuable resource is expected to remain high worldwide. Besides its use in investment and jewelry, gold is also used for technology and in dentistry.
There are several things you will need to understand to get your gold business up and running. Buying gold online is not as easy as most people think. It can be difficult to judge the quality of gold jewelry that you are purchasing, which is why it’s important for you to know how to inspect gold and have a gold testing kit on hand. You will need tools like a professional jewelry scale, magnet, metal file and magnifier loupe. Start small by buying gold from friends and grow your gold business gradually.
8. Art & Craft Shop
Do you have a creative hobby? If it involves some sort of craft, you might want to consider turning your favorite at-home pastime into a business, and potentially a major revenue stream. With people stuck at home for months on end looking for something creative to do or something interesting to buy, the arts and crafts industry has exploded since the start of the pandemic. In 2020 alone, the revenue of the leading online arts and crafts marketplace Etsy more than doubled, to $1.72 billion. That means right now is a great time to start your own craft business, provided people with wonderful products and ride this wave to prosperity.
You’ll be your own boss, working at home at times that are best for you. You’ll be able to embrace and express your creativity, producing goods that could be sold around the world. But you will need to decide which products to focus on. This could be anything from crocheted blankets and clay jewelry to embroidered handkerchiefs and knit hats. Whatever you choose, be sure to research what’s already out there and offer a unique twist on existing products. Building a strong brand will be key to the success of your craft business.
9. Jewelry Store
Are you fascinated by gems and jewels? The $300 billion global jewelry industry is growing fast and the value of gold is as high as it’s ever been, which means now is a fantastic time to get in on the action. You could start your jewelry business from home and provide stunning, high-quality goods to discerning clients around the world while making a good living. Best of all, you’ll also be able to express your creativity, with innovative and appealing designs for bracelets, rings, necklaces and more.
Of course, you’ll need to develop your jewelry making skills, and thankfully there’s a wealth of online instruction that can help with that. You will also need to find a reliable wholesale supplier of gems and valuable metals, and acquire the proper equipment. Finally, once you start producing brilliant jewelry, you’ll need to hit on a strong marketing campaign in order to stand out in an increasingly competitive marketplace.
But if you’re able to check all these boxes, diamonds might soon be your best friend!
10. Makeup Salon
Four in 10 Americans between the ages of 30 and 59 years wear makeup every day, according to a 2017 survey. The number is probably higher now as more men, perhaps inspired by Kpop idols, are also wearing makeup even if it’s just a bit of concealer or foundation.
So if you’ve been considering starting a makeup business, now is the time to do it. This type of business can be fun and rewarding. You will not only be making some cash, but you will also be helping your clients improve their looks and boost their self-confidence.
If you’re coming up with your own product line, you will need to strictly follow Food and Drug Administration regulations. The rules make sure that any cosmetics sold in the market are not adulterated or misbranded. These should also meet ingredient labeling requirements. An easier way to start a makeup business is by being a distributor of established brands. With careful planning and aggressive marketing, your makeup business can be a success.
11. Spray Tan Salon
Obsessed with maintaining a sun-kissed glow year round? Consider opening a spray tan business. The market is expected to continue growing steadily and tanning salons in the US are seen to earn around $4 billion in 2022. Spray tanning has been found to be safer than getting a tan under the sun or on a tanning bed, which exposes you to harmful UV rays.
In spray tanning, a thin mist with the chemical called dihydroxyacetone (DHA) is sprayed onto the skin to turn the skin a few shades darker and achieve a beautiful golden glow. With a skilled spray tan artist as well as proper preparation and after-care, your business can easily beat the competition. Before you launch, scope out the market first, invest in the necessary tools and equipment, find a strategic location, and do networking to find your first customer. An option is to affiliate yourself with an established tanning salon and offer your services.
12. Fashion Line
You might think being a fashionista means just splurging on the latest clothes and accessories, but did you know that you could turn your passion into a thriving business? The global fast fashion market, which refers to clothing collections that move quickly to the stores from the catwalk, is expected to surpass $210 billion by 2030. Whether you’re dreaming of launching your own line of clothes or engaging in a buy-and-sell business, there’s a huge market waiting for you.
You can start small by just selling to family and friends. As your business grows, you might want to do digital marketing and even hold live selling sessions, the latest trend in online shopping. During live selling, you will not only get to model your clothes on an imaginary catwalk in your home, but you will also be making a lot of sales. Before you start, however, it is important that you scope out the market, prepare some initial capital, decide whether to put up a physical store or stay online, and comply with government regulations.
13. Vending Machine
Vending machines are everywhere, from hospitals to train stations, and from schools to offices, special events and more. But have you ever wondered how much money there is in vending machines? Potentially, there’s a lot. It’s a $9 billion industry that’s expected to see strong growth in the coming years. So you could start your vending machine business right now and grab a share of that market while giving yourself a steady stream of nearly passive income.
It requires a sizable investment to buy that first machine or two and get started, but it’s a fairly low-risk venture. As long as you’re able to put your machines in locations with steady foot traffic, you should do decent business. A key decision will be the products you choose to offer; you could focus on candy and chips, soft drinks, or healthier options like trail mix and granola bars. Once that’s done, you’ll basically be able to sit back and watch your vending machine empire grow.
14. Hot Dog Cart
More than 800 hot dogs are consumed every second during the summer months from Memorial Day to Labor Day in the US. The market is expected to continue growing as more Americans show preference for high protein foods and manufacturers cook up more varieties with reduced fat or increased protein content. If you’re looking for a new venture, consider setting up a hot dog cart business.
Setting up this business may look easy, but you will have to comply with permit and license requirements, acquire the necessary equipment, find suppliers, and decide what specific products to offer. Competition will be tough as there are countless hot dog carts across the country so it’s to your advantage to find a good location with a high foot traffic volume and promote your business aggressively. But once you’ve established your brand, customers will be lining up to buy your hot dogs. What are you waiting for? Get yourself a hot dog cart and take a bite of this huge market.