Choosing a field is a challenging job. Before starting a business, you should consider the market trends and emerging business areas. The good news is that this year is the best time to dive into entrepreneurship. All you need is a profitable business idea to get you started, make a plan for execution and work hard on it.
6 Lucrative Business Ideas
We’ve collected six profitable business ideas that you can start before the end of 2019.
1. Mobile related matters
Mobile phones are trending these days. Almost everyone has a mobile phone, from children to the elderly. Mobile companies have more opportunities for profit and more employment. These businesses include ideas such as cell phone repair shops and smartphone sales shops.
Getting started is quite simple: set up display stands or service centers in shopping centers or other public places with sufficient footfall, and you are ready to get started.
2. Children-related matters
Children now cover a majority of population graphs. This increases the demand for child-related products and services.
So, which type of company should you choose? Good, these businesses include ideas such as post-maternity and childbirth hospitals, recreational stores, and entertainment services. Starting a music, dance or art workshop for children can help increase their cultural activities. Other services include food carts, yoga, gym and technology stores that cater to the children’s market.
3. Share services
Everyone wants to own stuff and pay less for it. Sharing services helps to achieve the same. More than one person can own something and share it with another individual.
There are many sharing services available, such as Uber, DogVacay or Airbnb. These businesses include ideas such as clothing sharing, car rentals, accessories, vacations and home improvements.
4. Online education platform
With the increase in technology and services, the study culture has also shifted to the Internet. There are already several education platforms available, such as Khan Academy, Udemy and Lynda. These platforms usually help teachers and students meet each other.
There are courses available for almost everything these days. Starting your own online education platform will be lucrative as it is in high demand and right in the window of opportunity.
5. Freelancing
Several individuals work as freelancers in different fields, and the number continues to rise steadily. Only mastery of one of the subjects is required, such as web design, graphics, music or writing. There are many platforms such as Upwork, Freelancer and Fiverr available that allow clients and employees to meet each other.
6. Vending Machine Company
If you think the vending machine is just a chocolate and drink dispenser, think again. It can now store and sell hot meal, fresh food, salad, pet food, etc. It is open 24 hours a day.
You may not make enough money with just one machine, but it will give you the advantage of being able to scale up without hiring many people. All you need is to partner with a reliable vending machine supplier to create a custom vending machine that can sell your products.
Need more ideas?
Conclusion
There are many business options to choose from before actually starting one. The top five businesses to start include mobile services, children’s services, freelancing, online educational platform services, and sharing services. These fields are all trending and can be implemented in your new business idea.