Last updated on February 27th, 2020
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!
Here Are The Top 30 Small Business Ideas For Beginners In 2020
01. 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:
- 1. You sell unique tshirts that will be created after your customer places an order.
- 2. You will then take the money from your customer and pay for the order.
- 3. 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.
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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.
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.
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05. 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.
06. 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.
07. 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.
08. 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.
09. 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.”
10. 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.
11. 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.
12. 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.
13. 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.
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.
15. 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.
16. Yoga Studio
Today Yoga has spread widely as a science and art of wellness. People from all around the world have started showing interest in yoga asanas to get relief from physical and mental health. Having a yoga studio can be the easy business to start with.
You have the high chances to get succeed in this business providing you know all the moves perfectly. In order to make your business stand apart from competitors you also need to come up with something unique and innovative. And it can be anything – yoga logo design, easy ways to do asanas or any extra facilities.
17. 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, etc.
After knowing the facts, you must have also agree with us that it is one of the best business ideas to make money.
18. 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.
19. 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.
20. 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.
21. Agriculture Business
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
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. Homestay Business
These days, the prices of hotels have increased a lot. And during seasons, it is quite difficult for individuals to get a room at a reasonable price. The situation has given rise to the trend of homestay business. Unlike old days, when people used to plan a long holiday once or twice a year, today in order to relax their mind and take a break from their daily routine, they have started planning a weekend or short vacations during the whole year.
If you have a place (with all the facilities) where you can give accommodation to travelers then this can be one of great side business ideas for you. You can earn a handsome amount of money in this business.
25. 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.
26. Decor Business
If you are looking for creative small business ideas, then this can be a great option for you. You may either choose to have a home decor business or office decor business. Both have a great scope in the current market and the future as well.
The business can be operated either online or from the brick-and-mortar office. One thing that is important in this business is ‘unique designs.’ You can either create your own designs or get it done from vendors and sell them under your own name.
27. Dance Studio
The growing popularity of dance T.V shows has increased the interest among people of all ages to take dance classes. If you have a commercial space that can be adapted to a few class rooms and wider performance area, then you may consider opening a dance studio. You can also rent it to the aspiring Youtubers who can dance but need a space for shooting.
28. 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.
29. Music Studio
Plato once said that musical training is a more potent instrument than any other, because rhythm and harmony find their way into the inward places of the soul. Music is something which is liked by every individual. Researchers have shown that music helps in developing the mind.
Aspiring professional singers look for studios so that they can record their own music and albums. Therefore, starting off with a music studio can be the easiest business to start with, if you have the infrastructure ready. Don’t forget to get a music logo for your studio. That’s really important.
30. 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.
Bonus Small Business Idea :
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.
Choosing a business is totally a personal decision. You may find a lot of other possibilities, but coming up with some small business ideas that yield higher profits is little tricky. So, choose your passion from the above list and turn your dream into reality.