Here are 5 new business ideas to start - and most can be started from home.
Know someone who is building a business in Hampton Roads? Please let me know!
1. Subcontractor Management Software
There’s a way to track by a vendor for e-commerce shops but there isn’t an easy way to manage subcontractor and freelancer relationships easily for service-based companies.
A subcontractor/vendor management software specifically for smaller operations without a proper HR department would make it much easier for service-based companies to scale.
Factor in features like the ability to integrate with project management software, email, and office messaging tools (ie, Slack) and it would be indispensable.
There are some options available, but there is more than enough space in the market for new entrants.
Two enormous opportunities:
1. 💻 Creatives.
Lots of agencies outsource some of their work to contract-based or hourly freelancers, not to mention the marketing agencies whose workforce consists entirely of independent creative contractors. 🙏🏽
2. 👷🏽Construction & Contracting.
On average it takes 22 different subcontractors to build a single home. The outlook for new home construction is pretty good and people are still pimping their crib with home offices and remodels despite the pandemic.
2. Project Estimation Software
Every company that works on a project basis has to figure out how much they should charge for each job. Or rely on pre-set packages that can’t flexibly take into account a client’s individual needs.
A project estimation software that integrates with existing invoicing platforms and project management software would be infinitely superior to spreadsheets and guessing.
Four industries where this would be a good fit:
2. Plumbing (most trades, actually)
3. Onboarding Software
Onboarding a new employee takes lots of time, energy, and effort that no HR manager has. Not to mention that it’s traditionally mind-numbing for new hires and doesn’t imbue the company culture in the slightest.
An onboarding software feature wishlist:
- Teaching the software platforms the team uses and how we use them
- Telling the company’s history, mission, values, and vision in a creative and exciting way
- Directory of employees and their contact information
- Employees specialties and availabilities
- Each employees’ preferred communication styles and times
- Org chart of hierarchy, especially between departments
With the trend of remote work showing no signs of stopping for professionals, this is a huge gap that HR is dying to have filled.
4. Meeting Efficiency Software
We’ve all sat through ten too many directionless Zoom meetings last year, so I don’t have to tell you about the need to improve our virtual office spaces. Not to mention how much time, money, and psychological strength bad meetings drain.
The tagline could be as simple as “Hotjar for meetings”. 🔥
There couldn’t be a better SaaS company to pitch over an, ahem, Zoom call.
5. Lean Franchise Management Company
Create a franchise that doesn’t cost an arm and a leg to startup for franchisees. AKA start a small business with the intent of franchising it.
Right now there is a rush to find people to do work on homes in any capacity. More people are at home, but they have even less time. Plus all those people snapping up homes like Hungry Hungry Hippos.
Choose a thankless task that the average homeowner can do, but usually puts off doing, and has to be done. Or something that people need done more because they’re stuck at home, but can’t do themselves.
🏠 Some company ideas perfect for franchising:
- Home-office and homeschool room renovations
- Painting (indoor or outdoor)
- Window cleaning
- Home organizing (you know, spark joy)
Plus recessions tend to send people who would normally be employed in a corporate operation hunting for something new.
Adding in a paid apprenticeship component and having strong relationships with local and regional trade schools like ECPI would be key for attracting talent and serving as a pipeline for future franchisees.
Excellent customer service, dynamic branding, punchy marketing, and plenty of operations management software would quickly set you apart from the competition.
Not that Buzz Franchise Brands would know anything about that...