If you’re interested in starting your own business, coming up with a unique idea can be very tricky. There are so many businesses currently competing for attention in the commercial market, and for a start-up to become successful, it really has to stand out from the crowd. Some of the most basic retail options are already covered by huge multi-national corporations, and this means that new entrepreneurs must get creative to find their niche within the market.
Unwanted Engagement Rings
The unfortunate reality is that not all engagements work out. Many proposals turn sour before the wedding day and disappointed grooms are forced to return the engagement ring to the jewellers for a fraction of the purchase price. This really does add insult to injury after the pain and disappointment of a broken engagement. However, there’s definitely a gap in the market for retailers who will buy second-hand engagement rings for a better price than the jewellers will give in the event of a return. The rings can then be resold as ‘nearly new’.
The clothing market may seem saturated with vintage boutiques and budget retailers, but don’t despair. If you’re interested in setting up a fashion-focussed business, why not open a swap shop? You can charge those with overflowing wardrobes a small fee to set up tables inside and charge entry to those who wish to come and swap garments. To prevent this looking too much like a massive jumble sale, it’s worth investing in the décor of your swap shop and adding amenities like mirrors and changing rooms. Provide a ‘swapping guide’ written on a large blackboard so that patrons know what to expect.
Owning a Marina
If you’ve got the capital, why not think big and invest in a marina? Your patrons will pay to buy or rent berths or mooring spaces for their boats, hiring kayaks and canoes and for fishing permits. Remember that it will be your responsibility to make sure that the property safety signage is in place and that jetties and gangways are properly surfaced with non-slip coverings like Marina Deck. This will lower your insurance premiums and add value to your aquatic asset. Owning a marina is a unique business venture and the correct design and management of the site will enable you to maximize profits and control potential risks. As long as you have a steady stream of boat-owning clients, this is a business that should quickly show signs of flourishing.