Are you looking for innovative business ideas? This is a good decision to start a successful innovative business as an entrepreneur.
Innovative business ideas mean something unique, different, and new business model which provides value for new business startups. If you work on an innovative business, you have a higher chance of getting quick success in your preferable industry.
A study by Monster.ca shows that almost 90% of businesses are successful within the last 2 years. So, this is good news and inspiration for newcomers.
In this guide, we have shared the top 7 innovative business ideas to start including some examples.
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7 Best Innovative Business Ideas to Start in 2023
Starting an innovative business is a good decision to grab the current trends of the business. The business market seeks new ideas, new products, new plans and new set up to be developed.
So, if you have something new and unique, you can invest your ideas in the marketplace to become a successful business owner.
Here are the 20 best innovative business ideas for beginners:
1. Sustainable Fashion Boutique
Sustainable fashion boutiques prioritize eco-friendly fashion, which has a high-quality design, ethical production standards, timeless design, and new styles.
If you want to start a business on sustainable fashion business, you should focus on popping up independent boutiques. Because they offer a variety of styles, products, and quality items.
As a newcomer, you may be surprised by its prices but you should keep in mind this type of product isn’t the same as fast fashion. So, high-quality means high-price.
2. Online Video Streaming Platform
If you are looking to start a video streaming platform as an innovative business, it would be more profitable.
Because everyone loves entertainment videos such as movies, songs, funny videos, web series, and many more.
To explore some examples of video streaming platforms, you can visit Netflix, Amazon Prime Videos, and Hulu. These platforms are trending all over the world as quality video streaming platforms, which already have millions of subscriptions.
If you want to see more examples from this industry, you can go on Vudu and Tibi TV. They offer a variety of entertainment services such as TV shows, Series, Movies, and short films.
3. Virtual Reality Gaming Center
One of the latest technologies examples is the virtual reality gaming center, where you have the opportunity to experience the latest immersive gaming system such as Racing simulators, Virtiux Omni Gaming Platforms, VR touching experience, and many more.
Using VR gaming you can enjoy a new way to play games with family and friends. They allow unique entertainment such as Motor racing, Car racing, Driving, Exploring the universe and more trending Virtual Reality games.
If you want to start a business for a VR gaming center, you need to know the proper guidelines on how to set up and a way to start.
4. 3D printing services
Do you have skills in 3D printing? You should consider setting up a business on 3D printing service.
You can offer customers high-quality 3D printing services that others don’t have in your local community, where you pursuing to setup business such as printing design, 3D printing setup, 3D printing material selection, 3D printing prototyping, and production.
5. Drone Delivery Service
The use of drones increased by 60% this year because of the popularity of YouTube drone video capture.
YouTube creators use a drone to capture the natural beauty from the top and upload them on YouTube for the audience. This is how they are fulfilling audience interest.
So, new creators are also interested to buy drones to take their own capture and the order rate has increased unexpectedly, whereas, the delivery system is limited because of the system availability.
If you have experience in how to start a drone delivery company, you should start this business.
6. AI Powered customer service
Every business needs to provide services 24/7 but as a small business, your budget and team are very small. If you hire a customer service team to provide service for 24 hours, this will charge a higher cost that your business can’t effort.
Still, you have the opportunity to provide services 24 hours a by using AI-powered customer service. This will help you to actively answer all user’s questions about whether you have a higher volume of traffic at a time.
Ai provides a better customer service experience and increases satisfying customer volume for your business.
7. Online marketplace for secondhand goods
Starting an online eCommerce platform for secondhand goods is another profitable innovative business idea, which may lead to becoming successful in a short time.
You can serve secondhand goods such as electronics, furniture, home, and kitchen appliances. As a newcomer, you can take ideas from some secondhand goods marketplaces such as eBay, Craigslist, Poshmark, Mercari, and LetGo.