Small business entrepreneurs have many opportunities that
they can explore successfully; all they need is a great small business idea.
All good business ideas do not require spending of greater funds, but surely
need thorough research before you take a plunge.
However, make sure that you give your time and have some
clever marketing plans in place to get a good start.
Operating and running a new business venture successfully is
a tough job. According to a report, about 80% of new businesses close down in
the first year. This is a huge failure rate. This should make you even more
watchful about the steps you take to establish your startup.
One of the reasons for the high rate of failure may be that
many entrepreneurs chose a wrong business idea. Along with a clickable business
plan, you need to have every branding material in place. You need to create
a logo (not your task but a designer’s), label, brochure, packaging and
everything in between.
If you are planning to start your own business, then having
that passion about entrepreneurship is not enough. You need to have a great
business idea that is not only in demand but unique too. We have come up with great small business ideas that you may likely to consider in order to start your
entrepreneurial journey. Let’s get started!
The list of top 26 small business ideas for beginners in 2020
01. Digital Marketing
The world of business is now digitalized. Having an online
presence has become mandatory for businesses today. Unlike traditional
marketing, digital marketing is helping companies in connecting with their
target audience all around the world. The services of digital marketing are so
much in demand that this can the cheapest business to start with.
All you need to have a team of experts and a space to start
your business operations. In order to get the clients for your business,
you need to come up with a convincing presentation and a website with
compelling content. Want a presentation design? Get it now.
Even, you can visit best site to buy Instagram followers.
These sites or digital agencies help businesses grow their followers via
various tactics.
02. Food Truck Business
People who love to cook or experiment with food usually
dream to have their own restaurant. But unless and until someone is lucky
enough to get funding during the initial stage, not everyone can afford to make
such a big investment. Well, don’t get disheartened. If you are short of money
then opening a food truck business can be one of the best business ideas with
low investment.
All you need to make an initial investment to buy a food
truck. Having a food truck business is also a great way to figure out whether
people are liking your food or not. And if you are lucky enough to get a great
response, you may think of converting your food truck business into a
restaurant business.
03. Coffee Shop
Over the past few years, the coffee industry has seen rapid
growth. Earlier people go to coffee shops to spend some quality time with their
loved one. But today, people are conducting their official meetings there. If
you yourself a ‘coffeeholic’ then convert your love and passion for coffee into
a profitable business.
When it comes to coffee shops menu design, custom mugs design
and ambience plays a very important role. Take the help of graphic designers
for menu design.
04. Bakery
Starting a bakery business is one of the most successful
home based businesses available today. If you enjoy baking and got skills not
only to create tempting food but also visually appealing, then this can be one
of the best startup ideas. You can also tie-up with retail shops to sell
your products in their stores.
While going with this business opportunity, there is one
thing that you need to keep in mind and that is business plan. Just like other
businesses, home based bakery business also requires a proper business plan.
05. Ice-Cream Stand
If you are looking for part time business ideas, then this
can be the perfect option for you. Starting an ice-cream stand or a kiosk can
bring you handsome profits. You can have a mobile or a fixed ice cream stand –
whatever brings you more income!
When it comes to ice-creams, people love to try new flavors.
Spread the word on social media pages and make your audience aware of
the new ice cream flavors, special offers, etc.
06. Cooking Classes
Do you love cooking? Do you make food so scrumptious that
your loved ones can’t stop praising about the food and the presentation? If the
answer to these questions is yes, then it means that you are a great cook.
Starting cooking classes is also one of the great business ideas from home. Just like fast food joint, this
business too requires minimum capital investment, and once you start gaining
popularity, you can always start your own training center.
07. Home Food Delivery
For many years, you may have enjoyed preparing meals and bringing
it for office lunch. However, today, because of the busy schedule, food
delivery companies have gained a lot of popularity. People have started looking
home-cooked food online and taking monthly or yearly subscriptions.
If you are looking to start your own business in food industry, then this can be one of the great business ideas. In the
initial stage, you can start with a short menu with a right delivery boy. And
if things go well, you may take it to large scale.
08. Fast Food Joint
Starting a fast food joint is one of the small profitable
business ideas. Although the industry already has a lot of big sharks like
McDonalds, KFC, etc. you can make profits if the location and food quality is
great.
People always look out to try new eating joints. They also
search for the nearest food joint for home delivery. All thanks to Google maps.
Apart from food quality, in order to get the attention of customers, make sure
your business should have a unique and eye-catching logo design.
09. Product/Business Reviewer
Startups or individuals usually look for people who can
write reviews for their products or services to encourage the audience to make
a purchase. If you love to write and looking for online business ideas, then this can be a great option. You can
either get started with a profile on freelancing websites or contact companies
directly.
You can write reviews for them in exchange for a monetary
reward by becoming an influencer. Even better, if you have your own website or
a blog, you can write a post about their products.
Its highly recommended to read some studies, guides &
blogs before trying your hand in product/business reviewing. Here are a few
examples of good review websites where one can participate: thewirecutter.com,
blazereviews.com, topreviewedten.com.
10. Bookkeeping Services
A bookkeeping business involves managing income and
expenses, processing payrolls, and preparing tax returns for business clients.
If you know accounting or got experience and skills in bookkeeping, then this
can the best small business to start with.
Today, small businesses don’t have the time or ability to
set up and manage their bookkeeping systems. By providing bookkeeping services
to them, you can earn a good amount of money.
Since the business includes handling of sensitive data, it’s
advisable to have a team of seasoned professionals. “If managed and handled
properly, this small business idea can be very profitable these days.”
11. Website Design
In today’s digital world, you will hardly find any company
that doesn’t have its own website. Even if it is a one-page website, having an
online presence has become necessary for businesses. In order to look fresh and
impressive, companies keep revamping their website design.
If you have all the required skills, then having a business
of website design can be the best option for you. You can get lots of clients
and few professionals to meet their requirements. This is one of the small
business ideas, which has really worked well for many.
12. Mobile App Development
With a majority of people using smartphones, there are
countless apps that are developed every day. In order to tap into new revenue
streams, companies now find mobile apps more useful than desktops.
Currently, there are around 2.53 billion Smartphone users worldwide, and the
number is expected to grow by 2.87 billion by the end of 2020.
Since the vast number of apps operate on a free or freemium
basis, in-app purchases and digital advertising represent their primary strategies
of app monetization.
It is giving a lot of app developers a bright future in the
industry. If you are brilliant tech-savvy, then you may think this as one of
the best businesses to start in 2020. Get as many clients as possible. Hire
other developers, as required to meet the requirements of your clients.
13. Online Tutoring
The online tutoring service industry is growing rapidly with
the continued development of technologies and widespread usage of the internet.
Individuals who don’t have time to attend full-time classes have started taking
the online classes.
Just choose the field you are passionate about and help
others in gaining knowledge by providing virtual classes. At every stage,
people love to learn new things. So having online tutoring can be a profitable
business.
14. Print-On-Demand (POD) Online Business
POD stands for Print-on-demand and is perhaps the easiest
way to make money online.
The average time it takes to start a business like this is 3
to 5 days. The principle behind this is really simple:
- You sell unique tshirts that will be created after your customer places an order.
- You will then take the money from your customer and pay for the order.
- Your supplier sends the tshirt to your customer.
You get the profit and you don’t even need to invest in
stock or maintain a warehouse, it can’t possibly get easier than this.
You can start selling tshirts, hoodies, tote bags and more
in absolutely no time. But bear in mind that people buy tshirts based on what’s
on them. This is also the hardest part of starting a POD business, as a lot of
entrepreneurs are not designers, they are businessmen.
15. Currency Trading
Currency trading can be one of the most lucrative and
fascinating small business ideas. If you are someone who is good with numbers,
willing to work long hours, ready to take high risk, then this is the ideal
business for you.
16. Event Planning
If you are extremely organized, detail oriented individual,
who loves to organize parties, then you have the right personality to start an
event planning business. You may either choose to specialize in a specific type
of event (wedding, birthday parties, company meetings, etc.) or can go with all
types of events. The choice will totally depend on your skills or experience.
The biggest advantage of having an event planning company is
that if your clients like your work you can get repeated clients and those
clients may help you in finding new ones. You also get some percentage of money
in advance.
17. Photography
Photography is not only about capturing pictures but
emotions too. Taking pictures is now no more a hobby. It has turned into a
business now. In 2015, the digital photography market was estimated to reach
$77.66 billion; it is expected to touch $110.79 billion marks by 2021.
These statistics are enough to show that it can be one of the most successful small business ideas. This type of business often grow by
word of mouth, but you can create a Facebook page, Instagram page or any
other popular social media page where you can tag your clients and gain
popularity.
18. Travel Planning
With the increase in the travelling cost, people are looking
for different deals and ways to save their money. If you know that you can find
great deals on rental cars, hotel fares, or airline fares, then you can start
your online travel planner business.
As compared to other businesses, the start-up cost of this
business is very less. Even if you are working for some organization and want
to start a business without quitting your job, you can consider this as one of
the best business ideas.
Checkout: Airtickets & Hotel booking price.
19. Pet Business
Do you know that 68% of U.S households own at least one pet?
In the countries like USA, UK, India, keeping a pet is consider as a status
symbol. People actually spend handsome money on their boarding, grooming, daycare
flyers, etc.
After knowing the facts, you must have also agree with us
that it is one of the best business ideas to make money.
20. Daycare Business
Taking care of children when parents are away from home is
high in demand. But for parents finding a right or trustworthy daycare is
little difficult. Fill a need in your neighborhood by opening a daycare
business.
It is not only the best business to start with little money,
but also provides flexibility, recession-resistant and non-seasonal markets.
21. Content Creation Agency
These days creating catchy and unique content has become one
of the big challenges for companies. Rather than depending on one professional
individual, they have started taking the help of agencies to curate impressive
content. If you are an excellent writer, then you may consider starting this as
one of the best business to start in 2020.
As a content marketer, you need to create relevant and
valuable content for your own business so that you can attract the attention of
the target customers. You may choose any means to deliver content like videos,
infographics, webpage, blogs, etc.
22. Interior Designer
It is one of the most creative business ideas to start your
entrepreneurial journey. The trend of interior designing is growing
tremendously. The industry has become so competitive and flourished that individuals
have started considering new business ventures in this niche.
When it comes to interior designing, there are so many areas
to get specialized in. Some of them are residential projects, workplace
projects, commercial projects, etc.
Interior designing business requires meeting new clients
every day. In order to make an impression and market yourself you need an
impressive business card. Want to get it design? Use our business card
maker tool that lets its users to create unique cards within minutes.
23. Make-Up Artist
Companies from all around the world have come up with
innovative beauty products that have started giving more confidence not only to
females but males too. Make-up artist is one of the most successful home based
businesses available today.
It is the most lucrative business provides flexibility,
recession-resistant and non-seasonal markets. If you know how to create magic
with powders, lipsticks, and shadows, this could be the business for you.
24. Clothing Boutique
There are individuals who have a great eye on fashion, who
can create different styles by using any patterns, who can make some look
fabulous at any occasion. If the person sounds like you, then you should
consider your passion for fashion into business.
Like any other business, before opening a clothing boutique,
you need a proper business plan, a right location, and trained people. While
setting up your boutique make a list of suppliers and start marketing your
business in advance. Check out some tips on how to generate business name
ideas for fashion companies.
25. Gift Wrapping Business
Nowadays, just like a gift, the presentation of the gift
holds great value. Today, the presentation has not only restricted to
workplaces but in all the industries like food, gits, etc. It has given the
opportunity for many individuals to start a business from home with low
start-up cost.
If you are a creative person who loves to combine colorful
ribbons, papers, flowers, etc. then you may consider this as an appropriate
business for you.
26. Agriculture Business
The agriculture business is all about the production and
marketing of agricultural goods through farming items related to crops and
livestock. If you have vacant land that is suitable for agricultural
activities, then agriculture business can be the best home based business idea.
Here is a list of business ideas in agriculture:
- Agriculture Farm
- Vermicompost Organic Fertilizer Production
- Fertilizer Distribution Business
- Poultry Farming
- Bee Keeping Business
- Fish Farming
- Basket Weaving
- Dried Flower Business
- Dairy Farming
- Fruits and Vegetable Farming
0 Comments