When you look at a business, the basic thing that they all offer is something that no one else is doing as they are - now, this can apply to the local mechanic up the road or the multi-national with the 20 acre HQ down the street, the principal stays the same. So look to niches that have yet to filled in your neighborhood. In high school, as a class project, a couple of friends and I set up an ironing business that we later re-sold for a profit to a businessman that ran it for years making a profit. Why did it succeed? No one else was doing it, the job itself (ironing) was a chore that no-one likes to do that can be done relatively quickly with very little overhead and that can be run as a cash business from any location.
Think about who will be your main market. Remembering little things like the demographic breakdown of your area and the like can make a big difference in your success - no point in setting up and advertising a wine bar if the majority of the housing in your area is old style blue collar workers, you'll be better off with a beer only bar. Same thing applies when looking at age - probably no use starting a donkey ride program from your farm or yard if most of the people around you are middle aged or retired, as you'll have no market to sell to! On the other hand, a mobile ride service "our donkey's come to where you want them" could well work beautifully (I know a gut in North Carolina does this for a living - truly!).
So the bottom line is - think before you leap, know what youre going to do in detail, and make sure you can earn at it before you start.
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