Ambitious millenial here -40k savings - give me some business ideas

I'm in a similar boat as you, and really, the best thing you can do is open your eyes. There is opportunity everywhere. You just have to spot it, and spend several hundred hours working towards it. There are no secrets. Find your best opportunity, put in the work, you may succeed.

Age? Retirement savings? Current salary? Job/industry (can be vague)? Do you own a home? 5k pr?

I am assuming you are single with no kids.

Buy a 3D printer and use it to print new 3D printers which you can then sell.

If you want to take the longer-term approach for more profitability, you could use the 3D printer to print new 3D printers and use those new ones to print more new 3D printers which you could then sell. There are more options which I think you can figure out by yourself. You'll also need a storage facility for all the printers

Find an area that is devoid of doggy day care/kennels and start one of those.

Use

www.campbowwow.com

as a model.

Main must-haves:

1) Large indoor kennels for night time.

2) Common areas where dogs co-mingle.

3) Ability for dog to go outside from the inside to do his/her business.

4) Web cams so that pet owners can see their dogs while they are away.

Find an old entrenched service industry and update it and stream line it with technology. Example: Taxicabs. Uber.

Everyone has smart phones, but many industries still operate like land lines and date books are the models of efficiency. Tow trucks, uniform companies, construction subcontracting, even some legal services are all examples of industries that could be revolutionized by technology.

Precious Roy wrote:

Find an old entrenched service industry and update it and stream line it with technology. Example: Taxicabs. Uber.

Everyone has smart phones, but many industries still operate like land lines and date books are the models of efficiency. Tow trucks, uniform companies, construction subcontracting, even some legal services are all examples of industries that could be revolutionized by technology.

A running website might fall into this category

Friend0 wrote:

Hate working in an office, but want to work.

What's a 40 k?

Start an autonomous car livery service.

A business idea is only as good as your passion for the business... You can take a good idea and ruin it if it isn't your own.

Friend0 wrote:

Hate working in an office, but want to work.

I'm in the same boat. Have about 60K and I don't want to put it in the market. I want to invest in an actual business and either be a silent partner or have an actual hand in the venture. I have a decent job that pays adequately and gives me some flexibility outside the office, but I don't really want to stay at this job or in this field forever.

Groupon doesn't really have a competitor, so there may be something there.

Don't want to put it in the market hmmm. Yeah, passive investing won't make you rich in the short term but active investing (starting a business, etc) MIGHT. Odds are it will make you broke but, hey, higher reward comes with commensurately higher risk. Most people that get rich or do well with active investing got into it for the right reason - they LOVE that thing or idea and are passionate about it - to the point that the risk of blowing their entire net worth (and more) is not a deterrent. Most of them didn't get into it to get rich. Good luck.

What field would you like to work in?

What are you really good at?

What are you really interested in?

What will bring you the income you want?

Whatever is in the middle of that venn diagram is what you should do.

Precious Roy wrote:

Find an old entrenched service industry and update it and stream line it with technology. Example: Taxicabs. Uber.

Uber has the worst business model of all-time. 2billion per years losses for years. Then an 8.5 billion loss in 2019 and a 6.5 billion loss in 2020.. This year will be just as bad. Don't worry, they;'re going to make it up in volume. A 6% driver retention rate after 12 months? Porta-Potty companies have a much higher retention rate for poop removal technicians because they do a job they're actually getting paid for.

Precious Roy wrote:

Everyone has smart phones, but many industries still operate like land lines and date books are the models of efficiency. Tow trucks, uniform companies, construction subcontracting, even some legal services are all examples of industries that could be revolutionized by technology.

All of those businesses have already been "revolutionized" by technology.

Maybe you can revolutionize the porta-potty industry through imaginary tech efficiencies such as green energy fetish farms? That's an idea.

I, too, faced a problem when I could no longer work in the office. It's a routine that can overtake everyone at any moment. These are not good times. This pandemic has taken the lives of many people, so I don't even know if it's wise to work in an office where there's a risk of getting a coronavirus infection. I've decided that something has to change. They made me an offer, the essence of which was to provide services at Sphere IT(https://sphereit.uk). I'm good at it, so I gladly accepted. It is a unique opportunity to work remotely and a break from the hustle and bustle of the office.

Friend0 wrote:

Hate working in an office, but want to work.

Identify what the government has allocated money for and set up a business that fits the bill so they can give you a contract. Unfortunately, most successful businesses have found a way to get public money into private hands. Even Amazon / Microsoft make a lot of money from government contracts. Don’t fall into the trap of thinking you should sell to individuals. Public money is where it’s at. They allocate it, so they have to spend it, and the people in charge of it don’t care because it’s not their money.

Good luck!

Norman Norman wrote:

Friend0 wrote:

Hate working in an office, but want to work.

Identify what the government has allocated money for and set up a business that fits the bill so they can give you a contract. Unfortunately, most successful businesses have found a way to get public money into private hands. Even Amazon / Microsoft make a lot of money from government contracts. Don’t fall into the trap of thinking you should sell to individuals. Public money is where it’s at. They allocate it, so they have to spend it, and the people in charge of it don’t care because it’s not their money.

Good luck!

Also, it might be worth seeing if you can arrange a few calls with CFOs / finance guys in public organizations. I worked at a university and we usually had $10,000s that we needed to spend on SOMETHING before the financial year end. If we didn’t spend it, we would be allocated less next year.

Ideally, your business should have a subscription model, so one sale can make you a recurring income. You will have some churn, so will have to make fresh sales, upsell to existing clients, etc., but I read somewhere that a subscription business model makes 8x the revenue of a one-off purchase business model.

Crack whore. Drug dealer. Pimp

Start drinking and investing amd gambling. Worked for me.