What are the best ideas for profitable businesses? Which businesses will have a future and will continue to thrive, and which ones is better to stay away from?
It’s very likely that you’re an aspiring entrepreneur if you’ve ended up here and, like so many others, you’re asking yourself questions like, “What should you open nowadays?”
The changes of the recent years have radically changed the society and the entrepreneurial ideas that can be realized today are many and, in this article, we’ll try to understand what are the best businesses.
I identified for you some innovative ideas and profitable activities that can be started with investments of various types and in various areas.
Let’s start our journey now.
24 Ideas of Profitable Businesses
I thought to try to draw up a small list of tips and ideas to try to put into practice in light of national and global economic trends.
Many of the concepts expressed succinctly here have been then subject of specific insights to which I refer.
What are the profitable businesses to open nowadays? Let’s find out right now.
Invest Money in Share Markets with eToro
Share Markets are a real opportunity to invest your savings and earn both in the short and long term. It is an activity open to all, just find the right platform that has low commission costs and many features to be exploited to your advantage.
eToro is currently the best trading platform because it is very simple to use, intuitive, with low costs and many features that you will hardly find elsewhere. It offers the possibility to activate a DEMO Account with which you can operate using virtual dollars and build your personal investment strategy.
Registration is very simple. You will need:
- visit the official website here;
- choose between a DEMO or REAL Account;
- start to invest in shares, ETFs and indices.
>> Sign Up for Free at eToro! <<
Buy Online and Resell at Higher Prices
I was recently struck by the story of Ryan Grant, a young American who made a lot of money by buying products on offer from the Walmart chain and then reselling them on Amazon.
Its mechanism is, in some ways, very simple but at the same time effective since it has been successful: Ryan identifies a number of products that the large retailers sell at very low prices (he started, for example, from university texts) and he carefully studies whether, on Amazon and other online stores, they can be sold at higher prices.
You could use this mechanism in reverse: by participating in auctions on the web, in fact, you can grab products at bargain prices and resell them to your acquaintances (or even on other sites about selling among private individuals) increasing the price. Your research work, in this way, is enhanced and you are able to start what is a real business with very little money.
High Potential Real Estate Micro Investments
Today the internet offers possibilities once unthinkable, we live in a magnificent era that allows us to do really innovative things if we can seize the opportunities that arise.
I guess, if 10 years ago you were told you that you could have a piece of an apartment in Madrid and one in London without leaving the house, in all likelihood, you would have laughed. If, like me, you were still a kid 10 years ago it is likely that your parents, rightly, would have laughed.
Well, this opportunity has a name: it’s called real estate crowdfunding.
Nowadays you have the opportunity to access to many platforms that allow us, even with limited investments of 50-100 dollars
, to participate in different construction projects or redevelopments of apartments and large real estate complexes.
Since there are not too many intermediaries, thanks to the power of the internet, many of these programs offer very interesting returns that often approach 10%.
Focus on the Green Economy
The green economy for many is the future but, especially in this period of great change, for many it may already be the present.
In the coming years states, companies and individuals will face a progressive reduction of waste and energy consumption to respect the environment and, for those who want to earn some money, this is a great opportunity.
Companies around the world are starting energy development and redevelopment projects, offering great possibilities.
Invest automatically by relying on experts
The idea teases many and indeed for the rich ones this is not new. Have you ever heard that “Money goes where there is other money”?
If you have some financial knowledge, you can make the money work for you without you having to open a business.
If you feel that you don’t have enough knowledge to take the path of finance, it is good that you still make a preliminary reflection that always applies, even when you want to start a business.
Our assets must be defended, if we have a lump we have to divide it between high-risk activities (as any type of company) and “safe” activities.
Constraining savings in the bank, for example, is a choice made by a lot of people.
If you’re thinking of protecting yourself, before you even start taking risks in a business, I recommend considering entrusting your savings to the best financial adviser.
Study finance and start a digital business
There are many ways to make money with the web through investment platforms, on Just Money Tips I review the most important ones and I have written different content that can help you.
The basic ingredients, in any case, are:
- Studying: I recommend you look for free resources, possibly buying books or courses before you operate;
- Practice: almost every platform allows you to operate in demos, that is, without directly investing money from your pockets;
- Patience and dedication: It will take months if not years to figure out how to move and learn to act at your best, if you don’t have the time or want to dedicate yourself to such a project I do not recommend you to start.
Start a Family Assistance Business
Do you want to set up your own business working in the social? If so, I advise you to consider the seniority of your country, because it could turn into an interesting job opportunity.
This means that many families need and will need care services for the elderly and to support the family, as the state will not be able to meet these growing needs.
Round up the revenue with paid surveys
Another low-cost solution for those looking for information to increase revenue without starting their own business or profession.
Ignore this advice if you’re looking for more structured business because it won’t take your life, consider paid surveys a way to round up revenue if that’s what you’re really looking for.
Understand the money well to learn how to make them
There are many ways to start a successful business and to earn more money, but in my opinion, the theoretical aspect is and remains essential. The difference between successful entrepreneurs and who will never become an entrepreneur, often, lies in the head even before in the activities carried out.
I try to explain to you succinctly how I think: if you don’t understand how money works first, you’ll never figure out how to make more money.
I hope this concept is clear to you and helps you approach business effectively.
Lend money to individuals or companies earning money
Another perspective introduced by the web is that of social lending. With the advent of different specialized platforms from today you can also do, in a small scale, the same job as banks by lending money to individuals like you or companies.
Social lending companies act as guarantors which means that they select borrowers, admitting only solvent ones and classifying them by risk, and meet demand for credit and money supply.
This prospect often allows you to lend money even with an interest rate close to 8-10% but, of course, you have to consider the activity quite risky and you have to devote a small part of your savings to it by proceeding with caution.
If you’re interested in this perspective, let’s delve into it in the next few lines.
With Real Estate Crowdfunding you participate in operations around Europe
In addition to investing directly in your own business, thanks to the internet you can also finance the ones of others.
A valid solution can be, in this case, real estate crowdfunding because it allows you to participate in various transactions without a large capital outlay.
Become an entrepreneur in the field of real estate
One of the sectors that historically rewards entrepreneurs the most is real estate. Successful people like Donald Trump have built the foundations of their empire on the brick.
There are various ways to approach real estate investments, the best in my opinion is that of income properties because it requires less skills and less upfront investment than other more aggressive strategies.
Real estate is, in my opinion, business and, as with any business, you can only think of seriously approaching it if:
- You have time to devote: without time you cannot start a business, make sure you have at least a few hours a day to start studying and experimenting with the first operations;
- You have resources to allocate: if you want to invest in this sector, you must have at least 15-20 thousand dollars of capital otherwise you will not go anywhere;
- Study and form yourself: today investing in real estate is a complex task, if you don’t have the right information you run the risk of failure.
Become a Social Media Manager
Social media manger is one of those professions that is able to work for anyone in any corner of the planet without leaving home.
The Internet has broken down many barriers and offers the way to work from home, so much so that many people dream of embarking on this career.
There are many advantages because:
- It is a profession that has wide demand on the market by companies: communicating on Facebook, Twitter and Instagram is now an essential necessity for everyone, from the village bar to the huge multinational;
- You can proceed step by step: specifically, you can first train, then start as a second job to round up, later become freelance or, why not, open your own agency. Unlike other activities, therefore, you don’t have to start at full throttle right away, but you can also structure yourself a little at a time.
Become a web designer and specialize in a growing industry
If you want to specialize in a lucrative and high-demand profession you can definitely think of becoming a Web Designer. Refining your preparation in the design and implementation of activities on the web can have several outlets:
- Business: companies are looking for profiles with these skills;
- Freelancer: you can start a self-employment, perhaps at the beginning alongside the current one and one day replacing the main one;
- Entrepreneur: you can think of creating a company, in the long run, specialized in this area.
Study Business from the ground up
You’re here because you’re looking for ideas, but I think you need a broader view because you’re not going anywhere with the idea.
Today everyone can open anything or start any profession. This exposes you to risks and fast changes that no longer make trading or profession as profitable as it once was.
Food vending machines
Increasingly health-conscious and time-consuming, today’s workers are looking for fast food to eat on their lunch break at work or while on various errands.
This can result in a big business opportunity for those who want to reconcile the simplicity of fast food applied to the vending machine with the need to eat well: there are already several specialized franchises in this area that you could bring to your city.
Design Children’s Apps
If you’re thinking of doing high-tech business, it’s good to know that kids are your future customers.
What better opportunity, then, to gain their fidelity from an early age? According to several recent research, in fact, the connectivity of children literally exploded in 2015 in all the most advanced countries.
It seems that in the United States even three-quarters of children have access to a mobile device and this, in countries historically slower to adapt to new trends such as Italy, will surely result in changes that you could still exploit.
This is a great business opportunity for anyone who is able to create products or apps designed exclusively for children.
If, moreover, you manage to pass an educational or oriented message to the promotion of good eating and health habits, then you may also get parental approval.
Start translation services activities
There is no denying that the global market is growing and that it goes beyond the borders of its own country. Global communication requires a significant amount of specialist translators on a daily basis.
The US Bureau of Labor Statistics estimates that the hiring of interpreters and translators is expected to grow by 46 percent by 2022.
What does this statistic mean? That the sector will grow much faster than the average of all other occupations.
For those who want to do business this means great opportunities for entrepreneurs who think of making the service a real business.
Recycling e-waste and computer waste
In a consumer society like ours, recycling can be a winning weapon not only to be good for the environment but also to create a business.
Most apartments have outlets for public containers in which to throw in recyclable materials such as paper, glass and plastic.
According to the most accredited research, citizens often do not make the effort to properly recycle electronics and batteries and this can be extremely harmful to the environment when materials arrive at the landfill if differentiation is not well done.
You might think you’ll offer to collect electronic waste that often ends up in people’s garages: we refer, for example, to old TVs, laptops and mobile phones that are no longer used.
The business must be organized in special spaces where to install the necessary machinery: before you start you have to identify the target market, potential customers interested in the materials you will recycle and, above all, you need to understand in what to turn what you want to recycle.
This idea is now a reality in many parts of the world, why not trying it?
Open a walking restaurant business
Who has never eaten at the food truck? Do you like to get ice cream at the park from the walking ice cream maker?
In recent years we are witnessing the return of pickup trucks and vans that offer culinary specialties that cater to the tastes of adults and children.
They are seen in the main public places and contribute to enriching the dining offer.
A pickup truck is a much cheaper investment than a real restaurant and, according to several business experts, the failure rate for street vendors ranges from 10 to 20 percent (compared to the estimated 60 to 90 percent for bars and restaurants).
With the right equipment and some great recipes, therefore, you can have a real walking restaurant project in no time.
Find your place in the money path
I have been involved in personal finance for several years and I can tell you with absolute certainty that confusion in people’s heads reigns supreme.
We all say that we want to make more money, that we want to live on annuity and things like that, but, in reality, we often blur ideas heard from right and left and we are unrealistic compared to our starting point.
Start a private profession working from home
Nowadays it is a reality for many people what used to be a dream: to work from home.
If you’re able to do jobs that you can do remotely like video editing or podcasts, writing articles for sites and ecommerce, secretarial and office activities, and many other services that small and large companies give in outsourcing, you’re already well on your way.
If you are only passionate but do not feel competent about these subjects but they attract you, I advise you to study them so that it can realize your dream without dancing too much around it.
You can start at Udemy for low-cost courses or from Amazon to buy books and manuals: cut out a period of time to organize your studio and search for your clients online.
I also talk about it in the program “From Zero to Entrepreneur” and in many other articles here in the blog.
Opening a farm
Many have abandoned it and, perhaps, find themselves with the old garden bequeathed by their grandparents uncultivated for a long time.
Consumerism has led us to dream of ourselves, yet we have acres of land to cultivate.
Of course, you cannot think of producing as many years ago but by improving what already exists it is possible to open an effective farm in a certain niche, that knows how to create specialties that satisfy the consumer.
The farm can be joined by a farmhouse, just as you can then add all other micro-entrepreneurial activities aimed at the transformation and enhancement of what is produced in the fields.
Start a franchise
The idea of starting a franchise business never goes out of style. Although commercial affiliation does not give full autonomy to entrepreneurs, it allows in the initial phase to have valuable support to start the business.
American-style bakery and cafés
Here is another activity that in many countries of the world seems to bode well: American bakery and cafés.
So, you can think of opening such activities: cafés, “muffin shops” and other street food venues go for the most.
Starting an American café or bakery allows you to meet growing demand.
The initial investment to start a bakery/a cafeteria starts from 100,000 dollars, up to 200,000 dollars, depending on the size of the local considered.
The higher costs are related to the rent of the premises, the furniture and renovations, as well as marketing campaigns, and bureaucracy. Also, let’s not forget any franchise costs.
However, billing, if you act with entrepreneurial wisdom, can reach 800 – 900,000 dollars!
Start a mushroom grow
Many people love mushrooms, but fewer and fewer people are able to go to the woods and the right areas to find them, just as not everyone knows how to distinguish edible ones from those harmful to our health.
Let’s not talk about the license, which the few who know how to look for mushrooms want to pay, thus giving up research. For these reasons just listed, the most prefer to buy mushrooms in shops or supermarkets.
So here is a fear of a profitable work: mushrooms also grow “in captivity”, so throughout the year you can earn!
Conclusions: What is better to open nowadays? Tips for 2020
If you seek the answer to your question in a fast or easy way, no one can ever give it to you. On the contrary, be wary of those who promise you easy money behind a more or less extensive investment: there are no secure business keys in hand, take it out of your head.
If they existed, why would they “sell” them to you? I, for my part, can suggest you some basic ideas such as quality and innovation: otherwise the recipe for success has never been revealed and, to be honest, I have not even learned yet the one of Coca-Cola, which remains secret.
Have confidence and self-esteem, believe in yourself and in what you can do but, above all, be realistic.
Success, very often, lies behind an adequate reading of reality rather than behind an extraordinary discovery that changes the world.
