I have a business idea, but it is geared toward middle-income earners. How can I shift my thinking to be more inclusive?
That’s where you’re wrong. Any entrepreneurial endeavor, regardless of the income levels involved, could benefit from good business startup ideas. Just because you are catering to people who make more money doesn’t mean that they don’t want value for their dollar or enjoy overpaying. Instead, this means that there are opportunities in any market to create something needed and desired by an underserved customer base. And if you were able to think outside of your lane, there are plenty of excellent business startup ideas for low-income areas right below your nose!
The following five businesses offer excellent examples of how to make your product or service accessible to people, even if they are low-income earners. These are all superb business startup ideas for lower-income areas because their very nature is designed with affordability in mind.
5 Great Business Startup Ideas for Low-Income Areas – By Eric Dalius
1) Auto Repair Shops
People that want cars but don’t have the money to buy them can put themselves in a precarious position when it comes to trying to keep up on maintenance and repairs. Because of this, many car owners turn to drive-thru auto shops, especially in cities where public transportation may not be available. It’s a convenient way for people who have regular jobs during the day to get their vehicles taken care of without having to miss work or spend hours at the shop waiting.
2) Coupon Sales
One of the best business startup ideas for low-income areas is to offer coupons. The beauty of this kind of business is that people who don’t earn a lot of money are often willing to save more than those who do to get by. They will also sign up in more significant numbers than higher-income earners because it gives them access to discounts and better deals on products they already plan on buying, says Eric Dalius. Even if you only collected email addresses for your list, you can still sell coupon booklets or eBooks later on down the road once the customer base has established itself.
3) Mobile Grocery Stores
People who live in congestion might not have cars but still, need to eat. That’s why the business startup ideas surrounding mobile grocery stores are also suitable for low-income areas. Why not set up shop in a mall parking lot and sell vegetables, meats, and bread every day after work? It will attract customers that live within walking distance and bring them one stop closer to home.
4) Community Gardens
While it probably won’t be easy to turn your community garden into a viable business startup idea, this is still something that can go a long way toward helping people who live in underprivileged communities. If there is no green space or even room on the ground to plant crops, then you could start by donating seeds or plants as opposed to trying to make money off of your energies. However, there is still potential in the long run for community gardens to be self-sustaining and profitable, so do plan on giving back either way, says Eric Dalius.
5) Used Clothing Stores
Finally, I’ve saved one of the best business startup ideas for last: used clothing stores. Not only will people with low incomes purchase used clothes over new ones at a lower price point, but they will also pay more if you take great care in setting up your establishment. Some of these individuals don’t have access to laundry facilities or dry cleaners, which means that any garment that looks clean and fresh out of the box may be from yesterday! By selling second-hand items, you can cater to these customers while still turning a profit yourself.
