Millennials- a word that brings to mind a young free spirited person ready to take on the world head-on, a rebel that likes to question all that is existing and wants to make an impact to the world. Well if we go by the literary meaning of the word, a millennial is a person reaching young adulthood in the early 21st century. Well, one thing that is common among all these young minds is the desire to do something different and to make a difference to the world that exists.
We have enlisted the various business ideas that might strike a chord with the millennials and might help them put a dent in the universe. So, read on.
Healthy fast food Business
Fast food has been a rage among kids and adults in an equal proportion. Millennials very know about this fact and can very well leverage this fact to generate a booming business if they make just one amendment to the existing concept of fast food and instead make it healthy. Because all things healthy sell these days. Today people seek out healthy alternatives to the greasy meals that make up much of fast food fare. Taco trucks, burger joints and ice cream stands just aren’t doing it anymore. Restaurants who offer acai bowls, quinoa-kale salads and whole-grain wraps are in. One great little niche is the healthy fast food truck or a restaurant.
Accessories to support Virtual Reality
Virtual reality is an impressive facet of modern technology. With a pair of goggles and the right computer hardware, you can immerse yourself in a variety of fascinating worlds using Virtual Reality. You can start your own Virtual Reality industry update website, where you write about new tech, games, software and more. If you are good at the programming side of things, you can create your own games and software and much more.
The pet industry is thriving like never before. With reduced human interactions, people are turning to pets for the much needed bonding. Well, what better time to leverage it. Pet owners are becoming increasingly careful about what they’re feeding their furry friends. It’s common knowledge nowadays that cheap food can sicken or even kill your pets, grains are sometimes detrimental to a pet’s health and raw pet food, when possible, is preferred over the dry stuff at the convenience store. If you have pets of your own, you may have heard some of these concerns before.
With the ever increasing use of technology in all spheres of life one thing that was bound to be effected is the education industry. More and more classrooms are allowing computers, iPads, and even smartphones during lectures and school activities. With the rise of this new privilege comes the rise of edtech, or educational technology. It may seem like every type of edtech imaginable has already come to fruition, but realistically, a lot of today’s edtech is glitchy or impractical. Few online classroom resources do everything a teacher or student needs them to do; those that are actually complete are also inexplicably expensive. As an entrepreneur, it’s up to you to create (or sell) a solution that meets more than just one requirement at a time.
Bars unlike the olden days have found a higher acceptance among the masses. People like to build a social circle and hangout at such places, but why go to a “normal” bar when you could visit a bar-slash-bowling-alley instead? Why go to a “regular” cocktail bar when you could hit up a speakeasy-style gaming parlor with your friends? For the newer generations, plain old bars just don’t cut it. Millennials want a pumped-up, engaging experience they’ll never forget. Hence, setting up Activity Bars can be a high return business idea.
We have our brushes with these subscription boxes every now and then, be it Facebook, Instagram, Pinterest and other such social platforms, you can receive a monthly box of just about anything: international snacks, high-end makeup, stickers and even craft beer. There’s a subscription box for almost every hobby and personality… but not quite all. A subscription box business may just be the fun side biz (or full-time gig) you’ve been waiting for.
Renting out Websites
Web developers these days are creating several websites at a time for a certain niche, then renting customizable versions of each site to local businesses. The businesses pay monthly for a website the developer maintains. It’s a great way to make passive income and expand your existing Web development business — as long as you know what you’re doing. Hence, this could be a fruitful business idea
While everyone around is trying to build a business, but what concerns the first-time business owners or seasoned managers newer to ethical business alike, is the need to follow ethical business practices. There are hundreds of potential clients waiting for an ethical business consultant to help them out. Ethical entrepreneurship and management is a huge focus of concern for this generation. It’s not just about protecting employees and vendors from discrimination based on race, gender, sexuality and religion – modern business owners and managers also worry about ethical product acquisition, social responsibility and environmental awareness. Hence, this area has a huge potential for a thriving business.
Given the opportunity, people in today’s day and time will pay to have just about anything done for them. They already pay businesses like Postmates and Uber Eats to deliver food to their homes and workplaces. Booster Fuels will fill up their cars wherever they are in the US. And with the rise of services like Amazon Prime Now, BigBasket, etc. people can have everything from groceries to electronics delivered to their doorstep in under two hours. The concept has already proven itself – all you have to do is figure out what you’d like to deliver. And based on that you can set up your own delivery services and the business will surely do well, thanks to the ecommerce era.
With more and more people moving to cities for education and jobs, what is becoming difficult is to have the land to build a big, plush house. Hence, people are looking around for alternatives like smaller houses, that have all eminities but don’t take up huge space. This has been very well accepted by the college goers and singles across the US and might find its purpose in India as well. People also prefer having tiny houses on wheels, which they can transport to any location. They let you travel the country without paying for pricey hotel rooms. Even with full amenities, they cost far less than a normal-size home. They’re cuter and more practical, and they’re (almost) fully customizable. Some even have tiny porches to match.
With so many business ideas around and a few listed above, there is no need for the millennials to wait any further as they can realize their entrepreneurial dream right now.