Underrated business ideas include personalized meal prep and delivery, virtual event planning, social media management for small businesses, and online tutoring and coaching.
Are you tired of the same old business ideas that everyone seems to be pursuing? It might be time to consider some underrated business ideas that have the potential for success.
In this post, we’ll explore some unique and innovative business ideas that you may not have considered. From personalized meal prep services to virtual event planning, there are plenty of opportunities out there for entrepreneurs looking to make their mark.
Top 5 Underrated Business Ideas
Are you tired of the same old business ideas that seem to be everywhere? Perhaps it’s time to explore some underrated business ideas that have the potential for success. In this post, we’ll be discussing the top 5 underrated business ideas that are innovative, unique, and have room for growth.
From mobile car washing services to social media management for small businesses, these ideas have the potential to bring in profits while standing out in a crowded market. So, if you’re looking for a new business venture, keep reading to learn more.
Personalized Meal Prep and Delivery Service
A personalized meal prep and delivery service involve creating customized meal plans based on a customer’s dietary needs and then delivering those meals directly to their door.
This business idea is perfect for people who are busy or who don’t have the time or skills to prepare healthy meals for themselves.
Why this Business is Underrated
Despite the growing trend towards healthy eating and the convenience of meal delivery services, personalized meal prep, and delivery services are still somewhat underrated. Many people assume that these services are too expensive or only for fitness enthusiasts.
However, there is a growing demand for healthy, convenient meals that cater to a variety of dietary needs, from vegan to gluten-free.
Approximate Investment and ROI
Here is a table chart that outlines the approximate investment and ROI for a personalized meal prep and delivery service:
| Investment | Approximate Cost |
|---|---|
| Kitchen Equipment | $10,000 – $50,000 |
| Marketing and Advertising | $5,000 – $10,000 |
| Delivery Vehicle | $10,000 – $20,000 |
| Website and App Development | $10,000 – $20,000 |
| Staff and Supplies | $20,000 – $50,000 |
| Total Investment | $55,000 – $150,000 |
| ROI | Approximate Revenue |
|---|---|
| Monthly Subscription Plans | $5,000 – $20,000 |
| Single Meal Purchases | $3,000 – $10,000 |
| Corporate Catering | $2,000 – $5,000 |
| Total Monthly Revenue | $10,000 – $35,000 |
| Annual Revenue | $120,000 – $420,000 |
Of course, the actual costs and revenue will depend on various factors such as the location, target market, and marketing strategy. However, this table provides a rough estimate of the potential investment and ROI for personalized meal prep and delivery service.
Virtual Event Planning
Virtual event planning involves coordinating online events such as webinars, conferences, trade shows, and product launches. With the shift to online events due to the pandemic, virtual event planning has become an increasingly popular and important industry.
Why Virtual Event Planning is Underrated
Despite the growing importance of virtual events, virtual event planning is still an underrated business idea. Many businesses are unaware of the benefits of hosting online events and may not have the resources or expertise to plan and execute them.
This creates an opportunity for entrepreneurs to offer virtual event planning services to fill this gap in the market.
Investment and ROI
The investment required to start a virtual event planning business varies depending on the scale of the events being planned and the services offered. Here is an approximate table chart of the investment and ROI for a virtual event planning business:
| Investment | ROI |
|---|---|
| High-speed internet connection and computer equipment | $50,000+ per event |
| Virtual event platform subscriptions | 10-20% profit margin per event |
| Marketing and advertising expenses | Dependent on budget |
| Salaries for staff and contractors | Dependent on services offered |
The ROI for a virtual event planning business can be quite high, especially if the business is able to secure contracts with high-paying clients.
However, it’s important to keep in mind that the success of a virtual event planning business depends on the quality of the services offered and the ability to attract and retain clients.
Social Media Management for Small Businesses
Social media management involves creating and executing a social media strategy for businesses, including content creation, posting, and engagement with followers.
Small businesses often lack the resources or expertise to manage their social media accounts effectively, making this a potentially lucrative business idea.
Why it’s underrated
Many small businesses underestimate the importance of social media and may not have the skills or time to manage their accounts effectively. As a result, social media management for small businesses is often an underrated business idea.
Approximate investment and ROI
Here is a table chart outlining the approximate investment and ROI for starting a social media management business:
| Investment | Approximate Cost |
|---|---|
| Education and Training | $500 – $2,000 |
| Marketing and Advertising | $500 – $1,000 |
| Tools and Software | $200 – $500 |
| Business Registration and Legal Fees | $500 – $1,000 |
| ROI | Approximate Earnings |
|---|---|
| Monthly Retainer for Social Media Management | $1,000 – $5,000 |
| Social Media Ad Campaigns | $500 – $2,500 per campaign |
| Social Media Consulting | $75 – $150 per hour |
The initial investment for starting a social media management business can range from $1,700 to $4,000, depending on various factors.
However, the potential ROI for social media management is significant, with an approximate earning potential of $1,000 to $5,000 per month for ongoing social media management services, as well as additional earnings from ad campaigns and consulting services.
Overall, social media management for small businesses is an underrated business idea with a lot of potential for growth and success. With the right skills and strategies, this business idea can be a profitable venture for aspiring entrepreneurs.
Subscription Box Service
A subscription box service is a business idea that involves offering a monthly subscription box to customers. The box typically contains a curated selection of products tailored to a specific niche or theme, such as beauty, wellness, or food.
Customers pay a monthly fee to receive the box, and the contents of the box are usually a surprise.
Why This Business is Underrated
Subscription box services are often overlooked as a business idea, but they have the potential for significant success. Customers love receiving surprises in the mail, and subscription boxes offer a convenient way for them to discover new products.
Additionally, subscription box services can provide a consistent revenue stream for businesses, as customers sign up for recurring subscriptions.
Approximate Investment and ROI
The investment required to start a subscription box service can vary depending on the niche and the contents of the box. However, it typically involves the cost of sourcing products, packaging, and shipping.
Here’s an approximate breakdown of the investment and potential ROI:
| Investment | Approximate Cost |
|---|---|
| Product sourcing and curation | $1,000 – $5,000+ |
| Packaging and shipping | $1,000 – $2,000+ |
| Marketing and advertising | $500 – $1,000+ |
| Total Investment | $2,500 – $8,000+ |
| ROI | Approximate Revenue |
|---|---|
| Monthly subscription fee per customer | $10 – $50+ |
| Number of customers per month | 100 – 1,000+ |
| Approximate Monthly Revenue | $1,000 – $50,000+ |
| Approximate Annual Revenue (assuming 1,000 customers per month) | $12,000 – $600,000+ |
Note: These are rough estimates and the actual investment and ROI can vary depending on various factors.
Personal Styling and Shopping Service
Personal styling and shopping services involve offering personalized style advice and helping customers shop for clothes that fit their style and budget. This could include anything from a one-time consultation to ongoing styling services.
The business can be conducted in-person or virtually and can cater to a variety of demographics, including men, women, and children.
Why This Business is Underrated
Personal styling and shopping services are often overlooked as viable business ideas due to the perception that it’s a luxury services that only the wealthy can afford. However, with the rise of online shopping and the growing importance of personal branding, there is an increasing demand for affordable and accessible styling services.
Additionally, many people struggle with finding clothes that fit well and reflect their personal style, making this service valuable to a wide range of individuals.
Approximate Investment and ROI in a Table Chart
| Investment | Cost |
|---|---|
| Business registration and licenses | $500 – $1,500 |
| Website development and hosting | $2,000 – $5,000 |
| Marketing and advertising | $500 – $2,000 |
| Styling equipment and supplies | $1,000 – $3,000 |
| Insurance | $500 – $1,000 |
| Total Investment | $4,500 – $12,500 |
| ROI | Income |
|---|---|
| Personal styling sessions | $75 – $250 per hour |
| Online styling services | $50 – $150 per session |
| Affiliate sales and commissions | Variable |
| Total Income (per month) | $3,000 – $10,000+ |
The ROI for a personal styling and shopping service can vary depending on the pricing strategy, marketing efforts, and demand for the service in the local market.
However, with the right strategy, this business has the potential to generate a substantial income while providing a valuable service to customers.
In conclusion, there are many underrated business ideas that have the potential to be successful and profitable. By identifying unique and innovative business ideas, entrepreneurs can tap into markets that are not yet saturated and provide valuable services to customers.
From personalized meal prep services to pet care services, there are plenty of opportunities for aspiring entrepreneurs to explore. So, if you’re looking to start a business, don’t be afraid to think outside the box and pursue a business idea that is truly unique.
