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Welcome To Our Business Idea Generator

Every day entrepreneurs use this free tool to find the right startup idea from over 300 different industries. We have three ways to find inspiration for your new business!

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Random Industry: Hardware stores

Business Ideas:

  1. Construction Tool Store
  2. Home Hardware Store
  3. Used Tool Store
  4. Just Fasteners Store Nails/Screws/Hangers

Industry Details:

  • NAICS Code: 44413
  • Category: Retail
  • License Required: Check State
  • Technical Score: 2 of 10
  • Suggested Funds: More than $100K

Summary:

There is a wide variety of hardware store types today. They range from consumer retail in metropolitan regions, to exclusive contractor's stores with a range of construction products. The key is to orient your hardware store to your location and the type of customers you expect to see. Drive traffic to your store as the more foot traffic you have the more grow your store will experience. Averages show that over 90% of foot traffic that comes into a hardware store is a buyer, so think about ways to drive more traffic.

Industry Expense Makeup:

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New car dealers

Business Ideas:

  1. New Car Dealership
  2. Multi-Manufacturer Car Dealer

Industry Details:

  • NAICS Code: 44111
  • Category: Retail
  • License Required: Yes
  • Technical Score: 3 of 10
  • Suggested Funds: More than $1M

Summary:

I learned that auto retail is an unnervingly cash-intensive business. While covering the massive daily overhead of the _facility, the equipment, and the staff, dealers lay out millions of dollars for new-car inventory from the manufacturers and _typically finance it through the automaker�s captive lender, paying an interest rate or �floorplan� on each vehicle until it sells, while also stocking the used-car lot with trade-ins and auction buys. Dealers know that if your lot isn�t overflowing with vehicles, you don�t sell as many because buyers don�t like to wait. Yeah, car-company execs sometimes talk a big game about factory stores � la Tesla, but they love the fact that the dealers, not the factory, carry the huge costs of the unsold inventory. And while they are hourly paying out, dealers are often waiting to be paid on sales contracts by the lenders who finance the deals and who can run on their own leisurely schedules. A dealer once told me that so much cash is in transit every month, flowing in and out, that the difference between solvency and bankruptcy can be but a few days at the end of the month. I learned that because the margins on new cars are so slim, today averaging less than 4 percent, the majority of dealers make most of their money on used cars and what�s called the �back end,� or financing, parts, and service.

Industry Expense Makeup:

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Automotive parts, accessories, and tire stores

Business Ideas:

  1. Used Auto Parts and Tools Store
  2. Best-Price Shopper for Tires or Parts
  3. Junkyard
  4. Tire and Wheel Store with Online
  5. Commercial Fleet Service
  6. Automotive Parts Rebuilder

Industry Details:

  • NAICS Code: 4413
  • Category: Retail
  • License Required: Check State
  • Technical Score: 3 of 10
  • Suggested Funds: More than $100K

Summary:

You will need reasonably long open hours to ensure that you capture all customer opportunities. Business buyers will buy during the day and individual buyers in the evening and weekend. Best to establish business relationships with key automobile service repair and maintenance businesses in your area. Do not underestimate services speed and price in your business dealings. It is also important to manage inventory through a system that ensures appropriate levels of stock; you can lose customers quickly with only one occurrence of unavailable stock.

Industry Expense Makeup:

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Furniture stores

Business Ideas:

  1. Furniture Store for homes
  2. Office furniture and cubicle sales

Industry Details:

  • NAICS Code: 4421
  • Category: Retail
  • License Required: Check State
  • Technical Score: 3 of 10
  • Suggested Funds: More than $100K

Summary:

You need to expect low transaction rates per day, but high ticket values. Most individual consumer buyers are available in the evenings and weekends. Open hours during these times is critical for business sustainment. Buyers most decide on price after they have decided on the item. Managing inventory is key to increasing sales volumes, and staying in touch with current style trends is important. Competing with online is not as difficult as with other businesses due to shipping cost and long wait times for online buyers to return items, so you need to take advantage of this with in-store options and a wide variety of options.

Industry Expense Makeup:

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Floor covering stores

Business Ideas:

  1. Floor Tile Dealer
  2. Carpet and Carpet Tile Sales
  3. Wood Floor Dealer

Industry Details:

  • NAICS Code: 44221
  • Category: Retail
  • License Required: Check State
  • Technical Score: 3 of 10
  • Suggested Funds: $50K to $100K

Summary:

You will need to understand your local region's construction and remodel potential to help grow your floor covering store business. Expect to reach out to your local contractors, as well as to create awareness throughout the web. After developing an information and easy navigation website, you may need to work with an individual or firm that has expertise in search engine optimization to attract your local community to your website, and ultimately have them come into your store to look at your sample floor products. Over 70% of floor covering buyers start with either a referral or website information before coming into your floor covering store.

Industry Expense Makeup:

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Home furnishings stores

Business Ideas:

  1. Art Broker or Dealer
  2. Sofa and Recliner Store
  3. Home Accessory Sales
  4. Home Office Furniture Sales with Delivery Service
  5. Collectibles Trading
  6. Craft Business
  7. Furniture Making
  8. Framing Service

Industry Details:

  • NAICS Code: 4422
  • Category: Retail
  • License Required: Check State
  • Technical Score: 3 of 10
  • Suggested Funds: More than $100K

Summary:

Many buyers for home furnishing shop in the evenings and weekends. Expect to work over these extended hours for business sustainment. 1 out of 5 people who enter a home furnishing store will buy, so the important part is to get buyers into your store to look at your inventory of products. Use local advertising and web communications; start a newsletter, and invest in a great website that is informative, lots of pictures, but not large. Buyers most decide on price after they have decided on the item. Managing inventory is key to increasing sales volumes, and staying in touch with current style trends is important.

Industry Expense Makeup:

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