Hidden Gems: Small Business Ideas With Untapped Potential

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Niche markets increase the chances of entrepreneurial success. Here are five unique small business ideas that stand out in a crowded marketplace. [[{“value”:”

When most people think about starting a small business, they often gravitate toward familiar ideas like opening a restaurant, launching an online store, or starting some sort of freelance business. The problem with these sorts of ideas is that, while they can be successful, the marketplace for them is crowded. And that makes it difficult to stand out.

Sometimes, you need to zig when others zag. So for those willing to explore less conventional paths, here are five hidden gems that can offer unique opportunities for success.

1. Specialty maintenance services

The typical “maintenance business” usually involves being a handyman or a housekeeper. But how many handymen can one town keep busy? The trick to standing out is to, as Apple once suggested in an ad campaign, “Think Different.”

There are all sorts of unique maintenance services you could start:

Pool and spa cleaningMaintenance for gyms, yoga studios, and other workout facilitiesPower washing homesGutter cleaning and chimney sweeping

2. Mobile elder care

It’s no secret that baby boomers are getting older. According to Pew Research, 10,000 boomers are turning 65 every day. For the intrepid entrepreneur, this equals opportunity.

The baby boomer generation is a bit different as they tend to be healthier and more mobile than previous seniors, due to health fads that began in the 1970s, as well as better nutrition and medicine. Since many aging boomers are living in their homes longer, mobile elder care services have become a thing.

These services can include in-home hairdressing, tech support, shopping, or massage. By catering to those who are not fully mobile or prefer the comfort of their homes, you can begin to serve an underserved market.

3. Social media for small businesses

Yes, we are all on social media these days, and yes, we all know how to use it. That said, many small business owners either: A) don’t really know how to use it to promote their business, B) don’t have the time or interest in doing so, or C) both A and B.

That’s where you come in.

By helping small businesses with social media marketing, you can tap into a huge market with a glaring need. Fees should be significant too, especially if you are good at it, as making money for these entrepreneurs is an easy way to charge healthy fees.

4. Urban gardening solutions

Gardening has always been popular, and that trend is true even for professionals living in urban environments. The problem for them however is that urban gardening is not nearly as easy or intuitive as gardening in suburbia, where land and plants are plentiful. And that’s why helping urban gardeners is a hidden gem.

Most urban dwellers have neither the time, expertise, nor space to cultivate their own gardens. But if you have this skill — or are willing to learn it — then you can charge a hearty fee helping people design, set up, and maintain small-scale gardens, be it on rooftops, balconies, decks, or in small backyard spaces.

5. Subscription boxes for niche hobbies

Last year, my kids bought my wife and me a subscription box for our sweet dog Hazel. And so now, every month, Hazel gets a box of goodies. So yes, if you think there may be a boom in subscription boxes, I would agree.

But here’s the thing: As with anything on this list, you’ll find less competition catering to niche audiences than you would going big and broad, like subscriptions in the fitness, beauty, or health field.

For example, there could be untapped potential in serving enthusiasts of more obscure pastimes such as vintage toy collectors, rock and mineral enthusiasts, or even knitting and crochet aficionados. By catering to passionate, yet underserved communities, you could build a loyal customer base with less competition.

Tried-and-true businesses are, well, tried and true. They work, but the downside is, there are a lot of people doing them. Instead, consider tapping into niche services or markets that are often overlooked. By doing that, you can find your own corner of the business world that is fulfilling and profitable.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has positions in and recommends Apple. The Motley Fool has a disclosure policy.

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