15 Lucrative Business Ideas For Military Spouses
Looking to start a business as military spouse but not quite sure what to start?
The good news is, there are so many opportunities to become an entrepreneur and build an innovative product/service in this line of work.
If you're looking to start your own business as military spouse, there are several low-capital options you can choose from.
We put a list together below of the most profitable business ideas as military spouses you can start today!
Here they are:
1. Start a career coaching business
A career coaching business involves providing personalized guidance, support, and strategy services to help clients navigate professional transitions and growth opportunities.
As a career coach, you design custom sessions to assist with resume building, interview prep, and workplace advancement goals tailored to each client’s aspirations.
With flexibility for in-person or virtual meetings, building a client base lets you empower breakthroughs through specialized advice and accountability.
Launching a coaching practice can be a great opportunity for those with speaking talents and human resources expertise to monetize their natural motivational abilities while setting their own schedule.
How much you can make: $1,000 — $500,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 75 days (?)
Wall Street Oasis, the largest online community focused on careers in finance, has over 100 million visitors during its 14-year history and is currently receiving over 2 million visits per month, offering interview courses and mentorship services, in addition to building and investing in a thriving online community.
2. Start a sewing and alteration business
Do you have sewing skills and looking for an entrepreneurship opportunity? You can start your sewing and alteration business.
A sewing and alteration business offers customers clothing repair, custom tailoring, button replacement, and other alterations. You can start a sewing and alteration business at home or set up a retail location.
To start a sewing and alteration business, you will need a commercial-grade sewing machine and a marketing strategy, so target customers learn about your business.
How much you can make: $1,000/month
ALTRD is a clothing alteration service launched by two socially oriented entrepreneurs that connects customers with skilled immigrant women tailors in New York who work from home and has already built an impressive team of 25 experts while making an effort to offer convenient and quality tailoring solutions as well as opportunities for women in need of work.
3. Start an amazon business
How much you can make: $3,000 — $1,175,000/month
How long does it take to build: 60 days (?)
Felony Case, a Toronto-based company designing unique iPhone cases, started as a small shop on Etsy and has grown to become an internationally recognized fashion iPhone case brand sold in top tier retailers like Nordstrom, Holt Renfrew, Indigo, Urban Outfitters, Revolve, Free People, and made over half a million dollars in revenue last year.
4. Start a tutoring business
Starting a tutoring side hustle is a great way for teachers and students to earn extra monthly income.
If you are considering becoming a tutor, find an ideal tutoring niche, and craft a tutoring website.
Then, find your tutoring clients and market your side hustle online. You can choose to offer online tutoring as a part-time or full-time engagement.
How much you can make: $1,000 — $375,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 15 days (?)
Time commitment per week: Min. 5 hours/week
A 22-year-old entrepreneur started an online SAT/ACT tutoring company from his bedroom which has seen a linear increase in student sign-ups each month, currently bringing in an average revenue of $15,000 a month and plans to triple in 2020.
5. Start a hair product line
Starting a hair product line can be a fun and profitable way to build a new income stream. It's also fairly easy, as long as you plan it out (and maybe do a little bit of market research before creating your sales funnel). There's a reason we often talk about trends in hip-hop and pop culture when we talk about hairstyles — they often have a lot to do with advancements in the hair product industry. The industry is expected to grow to 102 billion dollars by 2024.
How much you can make: $550 — $2,000,000/month
How long does it take to build: 365 days (?)
Private Label Extensions is a hair distribution and technology company that builds hair brands from A to Z for entrepreneurs, achieving over $650,000 in monthly sales and ranked #278 of the fastest-growing companies by Inc Magazine for 2018.
6. Start an apparel boutique
An apparel boutique is a small shop dealing in fashionable clothing or accessories. An apparel boutique is low investment but potentially very profitable idea. However, starting a successful apparel boutique requires creativity and financial stability to help the brand achieve its objective.
How much you can make: $3,000 — $660,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 120 days (?)
Bravery Co. is a company that empowers women with cancer through designer headwear for cancer warriors, earning an average of 3-5K profit a month and celebrating numerous PR coverage and awards.
7. Start a grocery store
A grocery store sells a wide variety of food products, fresh or packaged, and other household & personal care items. The grocery store industry is the largest retail channel that makes $682 billion in the United States.
To start a basic grocery store, you can expect to spend a minimum of $50,000. Ideally, the bigger expense would be the rent, equipment, labor cost, cash registers/POS systems, and software. Some of these are recurring monthly fees. However, the location, size of the store, competitors, and local customers will significantly impact the business. A new grocer should sell more items for a lower price to make a more significant profit.
A new grocer can also save costs by buying the items from local distributors. The distributor is the middleman between the manufacturer and the grocery store selling it. Once the store cost and location are decided, the next step is to obtain a seller license. In most states, a grocer's license is required to run a grocery store.
Thus an average grocery store has a profit margin of 3% to 5%. The profit rates depend on the store's location, size, and popularity. On average, a small to medium grocery store can make a profit of up to $300,000 annually if all the profit factors are considered.
Another way to make your business more profitable is to diversify your store and add amenities like a coffee shop or stocking up the front of the store with magazines, batteries, etc., as these items can cross a margin of up to 70%. As a rule of thumb, offering lower prices on higher purchases will ultimately win more customers and increase profitability.
8. Start a cosmetic store
The cosmetic industry is growing rapidly. Starting a cosmetic shop can be highly profitable, but only if you stock trendy, skin-friendly products.
If you are passionate about the beauty industry, consider starting a cosmetics brick-and-mortar shop.
Cosmetic shops sell products ranging from anti-aging, aromatherapy, lotions, beauty spa, cosmetic store, and even make-up.
To start a cosmetic store, research the market and source products from well-known brands in the beauty industry.
How much you can make: $8,500 — $490,000/month
How much does it cost to start: $800 (?)
How long does it take to build: 60 days (?)
A former felon's passion for makeup and skincare led her to launch FBI Cosmetics, which has grossed over $62,000 in sales since July 2020, through social media marketing, brand partnerships, and online sales at Walmart.com.
9. Start a drinks retailing business
How much you can make: $4,500 — $200,000,000/month
Brine Brothers sells all-natural pickle brine (pickle juice), generating over $10,000/month and winning an investment from Barstool and Jon Taffer, and is determined to become a million-dollar beverage company.
10. Start a beauty parlour business
A beauty parlor business offers various services, including haircuts, styling, coloring, makeup application, and other beauty treatments. To start a beauty parlor business, you will need a space to operate out of, typically a salon or storefront. You will also need various equipment and supplies, including styling chairs, shampoo stations, mirrors, styling products, and makeup.
For the success of a beauty parlor business, it is essential to have a team of experienced and skilled stylists and beauty professionals. It is also crucial to have a strong marketing strategy in place to attract and retain customers. The marketing strategy can include advertising through social media, local events, and word-of-mouth referrals.
Offering high-quality services and maintaining a clean and welcoming atmosphere is vital to returning customers. It is also essential to stay up-to-date on the latest trends and techniques in the beauty industry to offer the most current services to your clients.
Overall, a beauty parlor business can be a rewarding and lucrative venture for those passionate about the beauty industry and provide excellent customer service.
11. Start a crèche business
12. Start a perfume business
A fragrance or perfume business creates and sells products made from various ingredients, such as oils and extracts, which are mixed together to produce a pleasant smell.
And perfumes are no small business: the industry is expected to reach over $40B in the next few years.
There are a few ways to get started with creating your own perfume. You can start by choosing which ingredients you would like to use and then find recipes that will work for those ingredients. Or, you could start with a fragrance that you already love and try to recreate it as closely as possible with natural ingredients.
How much you can make: $19,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 90 days (?)
Founder Rafael Hernandez launched Alfred Lane, a line of handcrafted personal and home fragrances, generating $19k in monthly revenue with 50% attributed to online and wholesale sales, while expanding to 65 stores across 6 countries and expanding to Europe and South America.
13. Start an ice block making and selling business
14. Start a child care business
Starting a childcare business is a great way to build a steady income. You will have the opportunity to be your boss and set your hours even from home. You will have the satisfaction of building one-on-one relationships with children and watching them grow over the years.
A childcare business is an excellent idea. It is both a personal and economical investment for its owners. This is especially true if you are considering starting your non-profit organization or becoming licensed to provide child care. Running a childcare business allows you to help children develop while also making money. As with any business endeavor, running a childcare business has its ups and downs, but it can be very rewarding.
How long does it take to build: 60 days (?)
15. Start a frozen foods business
How much you can make: $8,333,333/month
Caulipower CEO, Gail Becker's startup, which generated $5 million in revenue in its first year, now operates in 25,000 stores and has a $100 million estimated revenue, and she shares her secrets to success.
- 4,818 founder case studies
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- 8,628 business ideas
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- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
