Are you tired of your boss always finding new things to complain about? Or perhaps you feel you’re stuck in a dead-end position while you have so much more potential? Are you an entrepreneur who wants to make their own luck? Perhaps it’s high time you start your own business.
It may not even be as simple as wanting change. With the coronavirus pandemic affecting job markets in just about every corner of the planet, many people find themselves changing careers. This is a difficult time, but there are ways to make the most out of a bad situation. Starting your own business in 2020 will have you reaping the benefits in 2021.
If you feel like it’s time to become your own boss & set your own rules, don’t wait! Now is the perfect time to start your business. Where to start? To make things easier for you, we’ve compiled a list of startups for business & small business ideas. Keep reading to change your life for the better in 2020/2021!
Which is the best business to start for 2020?
The best business to start is one that you feel comfortable with. Not the answer you were looking for? Allow us to elaborate.
There are dozens, if not hundreds, of viable business ideas that translate well into the current economy & state of the world. There are some sure-fire ways to make a successful business, and there are riskier pathways that may or may not lead to great success. However, starting your own business has to rely on more than current market trends.
If this is meant to be your job for the years to come and hopefully a source of some fantastic income, it shouldn’t be something you know nothing about. Of course, a total career change is possible and can net great results. However, if you need to obtain a whole new skill set, you will need to dedicate a bit more time to start your business.
That is why the best business ideas rely heavily on you actually liking the field you’re jumping into. Whether you’re a veteran or a newbie in that industry is less relevant. What matters is that you pick something you can easily see yourself doing for years.
Now that we’ve covered that, it’s time to talk about the best industries to check out. What are the best business ideas for a new business? Start by reviewing our list of the best business ideas and then let that guide your future choices!
What are some of the most successful small businesses?
It should come as no surprise that in 2020, most successful small businesses are online businesses. Of course, you can start an in-person business and succeed. There are plenty of great small business ideas suited for working from home and working outside of it.
There are many perks to working from home. Your initial startup cost is very low, as it is limited to some basic supplies, such as a desk and a computer. You save on rent, employees, extra equipment, and more. This is why some online businesses such as dropshipping, translation, transcription, or SEO marketing are especially successful, as they can be expanded at next to no cost.
When it comes to in-person businesses, some of the most successful trends in 2020 include food trucks, catering, repairs, cleaning, and health services.
Whether you choose to think of business ideas for an in-person business or you want to start offering your services online, there is a lot of success waiting for you.
What Are The Top 10 Businesses To Start in 2020/2021?
- Virtual Assistant
- Real Estate Agent
- Graphic Designer
- Digital Marketing
- Food Trucks
- Fitness Coaching
- Freelance Writer
- Cleaning Service
- Online Bookkeeping
All great businesses started with a great idea. Companies like Amazon, Microsoft, Google, and Apple all started out small. Fuelled by the best business ideas conceived by creative, entrepreneurial minds, these businesses blossomed into the industry giants we see today.
If you want to get started the right way, it’s good to tap into a niche that is currently marketable, like marketing or accounting. Here are some of the ideas for a new business for starter entrepreneurs.
If you’re not opposed to working directly with many different clients from all over the world, becoming a virtual assistant is a great freelancing business idea for 2020/2021. Virtual assistants are in high demand, sometimes even higher than in-person assistants. Pretty much anyone can get started with such a business, which is why it’s one of the best business ideas for people with a well-rounded skillset.
As a virtual assistant, you’d be performing a wide variety of tasks. Most common tasks include:
- email management
- contacting clients
- drafting company emails
- video editing
- booking flights, restaurants, etc.
- market research
- making phone calls
- social media management
- graphic design
- content writing
The above doesn’t exhaust the list of things a virtual assistant may be asked to do. The only limit here is your skillset and how profitable the job is vs how much you’re being paid. Most virtual assistants are paid by the hour. Many turn to tools that measure their working time in order to be billed properly.
While becoming a virtual assistant is more of a freelancing job than a small business, you can turn it into a startup over time. As you gain expertise in the area, you can begin to hire virtual assistants and seek clients to outsource their work.
Real estate agent
While COVID-19 has put a dampener on many people’s plans and ruined countless businesses, the housing market hasn’t been as badly affected. There are fewer people buying a new home, but the prices have not dropped. This means that real estate agents are still high in demand and becoming one is one of the best business ideas in 2020.
Starting an estate agency business is not very costly and can be done from within your home. As a real estate agent, you will be helping people find their dream homes within their allocated budget. Agents tend to receive a hefty commission on each sale.
This is a position that requires some persistence and sales skills. Once you get started, you may find that you don’t get the response you were hoping for. You can’t give up after the first, second, or even tenth failed closing. The reason why estate agents receive huge commissions is that not every person you meet will result in a sale. As far as small business ideas go, being an estate agent is easy to start, but hard to get to a proficient level.
As a real estate agent, you will often be expected to work in-person for the showing of the home. The rest can be done online.
Starting a graphic design business in 2020 is a great way to make some money on the side. With enough skill and patience, it can also evolve into one of the best long-term small business ideas out there. Graphic design is a so-called evergreen niche. This means that it’s always in demand and with enough entrepreneurial skills, you’ll always secure new clients.
Graphic designers are asked to perform many different tasks, including, but not limited to:
- Logo design
- Website mockups
- Designing images for websites, emails, newsletters
- Designing flyers, posters
- Preparing digital ads
- Designing t-shirt designs and other merchandise
Due to the vast skill set that is useful to many corporations and small businesses, graphic designers have an easy time starting their own small business. This is a job that can be performed from your own home. A computer and a desk will suffice, but many designers also use dedicated software to help them with their jobs.
Dropshipping is one of the best business ideas in 2020/2021. Online shopping only becomes more popular with each passing year, and dropshipping is an innovative way to tap into that industry.
Dropshipping relies on operating your own online store, often with the help of sites like Shopify. Your store can contain anything, but dropshipping shops usually fall within a more specific niche. This helps these stores stand out from the rest and attract customers. As an example, you likely won’t run a general clothing shop, but you may very well run a clothing shop for fans of music or nerd culture.
Owning an actual shop is expensive and comes with many overhead costs. That’s why dropshipping is so successful. As a dropshipper, you will list products in your store that you don’t actually own. Instead of buying them ahead of time, you will put a profit margin on them and list them in the shop. Once you get a sale, you order the product from another, cheaper retailer and have it sent to the customer directly.
Dropshipping is one of the easiest small business ideas if you want to get started with almost nothing and build into something huge.
Marketing is another evergreen field that will likely never go out of business. Every business and every corporation needs marketing services. Many business owners deal with marketing on their own, but digital marketing is something you need to have a knack for. Otherwise, your attempts simply fall on deaf ears. If you’re good at marketing, you may find a lot of success in this field.
Many small companies, and even mid-sized ones, prefer to outsource their digital marketing instead of hiring full-time marketers. Establishing their own team would be far more costly, so they turn to small business owners. If your business idea is to get started with digital marketing, the learning curve is not too steep. This makes for an easy start and one of the easiest small business ideas to get into.
Digital marketers deal with any and all tasks related to branding and marketing a business. You will most likely be responsible for content writing, newsletters, creating a business plan for marketing, social media management, brand voice, website content, and more. Digital marketers are also expected to have a good knowledge of SEO, link building, creating marketing materials, as well as other tasks.
As a digital marketer and/or social media manager, you will be able to work from home for the majority of the time, so the startup costs are very low. Over time, you can build your own team of remote digital marketers and reach out to a larger clientele. As a long term small business idea, this works very well!
Food trucks are still quite the novelty, although they have been popular for years. Starting a food truck business is one of the best business ideas for foodies. Such a business is much cheaper than opening up your own restaurant. It also gives you the freedom to pack up and move to another part of the city if the business is dry.
Food trucks sell food right out of the truck. Your truck serves as both your kitchen and your sales window. Most food trucks make food from within a certain niche. You may pick local cuisine, or go with American, Chinese, Italian, Thai, or another type of cuisine as the brand of your food truck.
As a food truck owner, you will need to have a more-than-basic grasp on cooking. Alternatively, if your business can afford it, you might hire a chef to work in your food truck. It may seem surprising, but many food trucks offer some top-quality food.
Trucks are a casual and typically cheaper way to eat something new. You won’t have to pay much to open up your business, but you should invest in good ingredients. Cooking skills are a must, as food trucks often operate on word of mouth — if your food is not up to standard, you won’t get new customers.
Another important part of managing a food truck is social media management. Especially starting businesses that have only just opened up rely on Facebook, Instagram, Twitter, and other websites like these to make money. Ask your customers to leave reviews, host giveaways, inform people of your services. Over time, your small business may grow into a full-time job.
If you have an interest in fitness and healthy living, becoming a personal trainer is a viable way to start a small business. What’s more, many personal trainers now operate strictly online. As such, this is one of the most popular small business ideas out there.
As a personal trainer, you have two paths to follow. You may focus solely on the training aspect. If you do, you will be creating workout plans, giving fitness tips, and perhaps even hosting online classes for several clients at a time. Some fitness businesses start out by simply hosting free classes on social media websites. This is a viable business idea if you want to build a client base to work with in the future.
If you want to have more of a combined role and also create meal plans, advise on calorie intake, and monitor your client’s weight loss, that’s also possible. However, in many countries, such a position would require some form of certification. Make sure to check whether you do or don’t need to be a certified dietician in order to open such a business.
Fitness and diets are both industries that will never die out. The benefit of running your business online is that your starting costs are very low. You will need your regular exercise equipment, a dedicated room with no interruptions, and a computer with a good webcam. However, if you choose to open a personal training service in-person, the costs may ramp up.
Freelance writing is a popular form of making some extra money on the side, but it’s also one of the most popular small business ideas. Content writing and copywriting is always in demand, and there are ways to make a living solely writing.
If you have a knack for the written word and a mind open to hours of research, getting into the business is quite easy. Depending on where your ideas take you, you may end up as a content writer who works with several clients or even open up your own content writing service. In such a business model, you’d be hiring several freelancers and sourcing jobs for them. You’d get a cut out of each job.
Typical freelance writers can work from anywhere in the world and require little more than a laptop to earn money. However, like all other types of creative work do, freelance writing requires you to always be full of ideas. You have to learn to approach many different subjects from new angles and write interesting copy that will convert the people that read it.
Some freelance writers end up writing for blogs and magazines. However, it’s marketing copywriting that is in the highest demand. It’s a good idea to try and learn more about this field if you’d like to be a content writer. Writers are also often asked to manage social media and draft witty, interesting, and engaging posts that get a brand to be noticed.
Freelance writers are typically paid per word. However, some prefer to be paid per project or by the hour.
This is yet another in-person small business idea that is thriving in 2020/2021. Great cleaners are always in high demand. If you’re not afraid of some tough physical work, you may be surprised by the money that can be made through cleaning.
Cleaning services are necessary for most businesses as well as private clients. As a professional cleaner, you’ll be cleaning homes, offices, businesses, and more. While private properties are usually cleaned during the day, many business cleaners work evenings and even nights.
This is a rather demanding job, which is why many people try to go down the other route and start their own business. They hire several cleaners and source clients for the clients to go to. This can be very profitable, but you first need to have enough money to hire employees, buy cleaning equipment, and more.
If you’re looking to fly solo as a cleaner, it’s also preferred that you get your own equipment. Owning a car is a great help in such a small business. You may be asked to travel quite far for your next client.
Are you an accountant? Or perhaps you have a relevant education? If you are or you do, you may find that starting an online bookkeeping business is a strong business idea. It allows you to make money working from home. It also gives you a lot of freedom while keeping you relevant in the industry.
This is a business that definitely has a learning curve. You can’t become a certified accountant without an affinity for the field. What’s more, many clients will prefer to work with people who have relevant experience and/or education. However, if this is not you, you may still find success by offering lower rates than professional accountants.
Many businesses, large and small, prefer to outsource their accounting rather than building an in-house team for it. For you, the small business owner, this is a great thing. Accounting is something that will never go out of style or out of business. As such, this is a market that lasts forever once you tap into it.
An online bookkeeper lends their expertise to their clients. You will deal with their taxes, invoices, income, and expenses. You need a good mind for numbers and a lot of self-organizational skills. However, money-wise, this is a cheap business to start. All you need is a computer.
The best ideas start out small and then flourish into something larger than life. If your mind is full of ideas, don’t let them go to waste. Starting a small business, apart from the best business ideas out there, only requires a lot of determination.
If you start today, you will thank yourself in 2021 when you have a lot of marketable skills. What’s more, you will be your own boss and you’ll forge your own path to success. If this sounds good to you, don’t give up and join the proud ranks of business owners today!