New business ideas

Just one idea can lead to an exciting and profitable business. Here are some resources to help you get there.

Generating business ideas

Ideas can come from anywhere, and sometimes something very small can be very big. Here are some suggestions for sources of new business ideas.

  • Look for needs or gaps in the market
  • Find something missing in your local area or region that works somewhere else
  • Adapt something you already know how to do to make a new idea
  • Find a new market trend that is helping another industry and adapt it for yours
  • Find a solution for something that irritates you
  • Be a route to market for a product
  • Take over an existing business
  • Buy a franchise

Above all, be open to possibilities, ask everyone around you and read all sorts of materials. You never know what will be the inspiration.

Idea examples

Find a gap in the market

  • Coaches to and from particular airports
  • Bus companies that start doing day travel excursions
  • Tour guides for your local heritage sites
  • A restaurant for cuisine which does not exist in your area
  • A juice bar opposite an office block when the other restaurants are all greasy spoons

Ideas that fill a need

  • Where there was demand for a website that lists coffee shops with big tables making it easy to work for freelance workers,  letsmeetandwork.com was created. If only this was able to take ratings like trip advisor...
  • For real time availability on restaurants, Ruffl was developed
  • For fresh and convenient food, Pret was created

Route to market

A gallery café that allows artists to put their work out for commission without having to be retained by the gallery means the café sustains the business but the art pulls in the customers.

Taking over an existing business

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Brainstorming techniques

If you have some friends to help, why not run a brainstorming session? Find out how

Run a brainstorming session

Related Items

Planning and getting your business started

Understand how to create a business plan and set up the right company structure

New business market research

Before your start your business plan you need to gather all the research. Here are some tips and a structure to help you get started.

Start-up funding and government loans

Understand the options to help you get your business up and running

Starting up a coffee shop or café

A short start-up guide to help you start a coffee shop or café

Tools and assets

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5 creativity exercises to find your...

Advice from Entrepreneur.com

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Generating new ideas

Tips from Mindtools.com

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Come up with a business idea

Tips from WikiHow