2020 is here!
What better way to welcome the new year than to start your own business? Begin your journey towards financial freedom with these top small business ideas for 2020. Read on!
Raking in billions of dollars in profit in the US alone, you cannot go wrong with a food-to-go business. With so many people who are constantly in the rush, meal kits and delivery have become really popular. The secret apart from quality and sanitation? Healthy variety. Busy folks will undoubtedly appreciate it if the menu will encompass nutritious food choices. More variety means more customers so be as diverse as you can!
Online racks and shelves
Gone are the days when you absolutely need a brick-and-mortar store to work. Now, you can sell your wares online. Here is another way to save even more on overhead costs: online racks and shelves. This means you don’t have to pay for yearly domain dues and website maintenance. All you have to do is to market your products on existing online retail companies. Think Lazada, Alibaba, Shopee, and Amazon’s Fulfillment. Fulfillment, for example, does everything for you: storage, packing, and parcel delivery. Say goodbye to costly rental by tapping online retail companies that can market your products.
Agency for skilled trade
Let’s face it. Fewer people want to do the dirty work or heavy lifting (literally and figuratively). While seemingly negative, there is still a silver lining in all this. With the said void in job opportunities, you can swoop in with an agency for skilled trade. Organize a group of welders, carpenters, plumbers, machinists, and metalworkers. This way, not only will you help them monetise their skills but, it is also a perfect opportunity for you to make a significant profit as you respond to the market demand for skilled services.
Investment in technology is always a good thing. And here’s what futuristic tech that promises huge returns: virtual reality! Look into opening a VR lounge or escape room where people gather together for a unique journey as they try and solve puzzles or go on a grand adventure. This has become a huge deal for many as more and more VR applications are created every day. Be ahead of the pack and invest in VR tech!
Demand for storage spaces has skyrocketed. This is why coming up with your own storage complex could be yet another business venture that is nothing short of promising. For most people, having their own storage space might be expensive so renting a room where they can store their wares and tools will be of huge help. Want to earn even more? Then come up with storage spaces that provide a climate-controlled environment and specialized lighting for more fragile stuff.
These are just some ideas that you can toy with as the world ushers in the new year. Always remember, the possibilities are endless so take the plunge and see how far you can go!