What Are the Different Types of Entrepreneur Ideas?

Laura M. Sands

Among the many types of entrepreneur ideas are small business ideas and invention ideas. Young entrepreneurs' ideas may also be included in either of these categories. Entrepreneur ideas may be geared toward a start-up business or may include expanding an existing business. They may even include purchasing a share of a larger business by becoming a franchisee.

Many entrepreneurs find social media and networking to be effective ways of following market trends and meeting new customers.
Many entrepreneurs find social media and networking to be effective ways of following market trends and meeting new customers.

New business ideas are among the most common entrepreneurial ideas. An individual or a group of individuals may come up with a brand new concept for a business or may decide to enter a business that is already popular. For instance, an entrepreneur may be the first to introduce a particular product or service to the market or may choose to enter the marketplace with a familiar product yet do so using a unique brand name that differentiates the product from similar ones on the market. Whether they are new business ideas or simply adding a twist to an existing business, entrepreneur ideas are virtually limitless.

Pizza restaurant chains may offer franchise opportunities.
Pizza restaurant chains may offer franchise opportunities.

Start-up business ideas often include new inventions. This may include new technology, new concoctions or any number of new creations. Unique entrepreneur ideas such as these have a tendency to change the ways in which society functions. Evidence for how these ideas impact society can be seen in inventions such as refrigeration, vaccines, television and computer technology.

Ideas from young entrepreneurs usually attract attention because they originate from unexpected sources. Children and young adults who are the first to think of a particular business idea or create a new widget tend to gain notoriety not only for their entrepreneurial ideas, but because few expect such inventive ideas to come from young minds. It is common for these types of entrepreneur ideas to be surrounded by a good deal of media buzz in part because of the idea itself and also because of the young person promoting it.

Entrepreneur ideas may also include investing in a familiar brand, such as a fast-food franchise or a convenience store. With these ideas, an entrepreneur is not creating a new concept, nor is she or he creating a new brand. Instead, these entrepreneur ideas involve purchasing a franchise that is part of an existing brand while agreeing to do business as the parent company dictates. This means that an entrepreneur must learn the franchisor’s business practices, but also may individually own and operate one or more franchises, which already has strong brand recognition, advertising and a sturdy reputation in the marketplace.

Coffee houses are a popular franchise option for entrepreneurs.
Coffee houses are a popular franchise option for entrepreneurs.

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