Last Updated on 2 years by First Guide
With so many business ideas in 2020, it can be hard to figure out which are worth pursuing. While jumping on a new trend can sometimes be risky – it can also be highly rewarding. You may notice that a lot of the ideas on this list have been growing in popularity recently. Others have been popular for a long time making them more competitive but less risky. However, all the small business ideas below will help make you money.
All you need is the right business idea to make it big.
For example, I started blogging as a small business idea in 2015 to make money online.
In a 1,600 adult survey carried out by University of Phoenix, it showed 63 percent of people in their 20s either owned their own businesses or wants to own a business someday, and of those who were not already entrepreneurs, 55 percent hoped to be in the future.
The fact that you’re reading this article means you are on the same page and may even want to start a part-time side hustle.
Even you can turn hobbies into best small business ideas with a little online marketing. Take pet walking for instance. It may not seem like a legitimate business idea at first.
But once you start running it solo and understand the ropes of pet sitting, you can build your pet walking agency, hire other pet walkers, create an app, and build your pet walking empire.
And just like that, a business idea is born.
This guide will cover the best small business ideas – many with low start-up costs and the ability to work from home.
Let’s take a look at the list of ideas that’ll make you money in 2020:
Table of Contents
Disclaimer: Please note that some of the links in this article are affiliate links, which provide me a small commission at no cost to you. These are merely good business tools to use in tandem with these home business ideas.
What Are the Best Business Ideas of 2020?
Are you looking to sell products online but don’t have the money to buy and store inventory? Consider dropshipping! Dropshipping is an ecommerce business model in which you don’t have to manage any physical products. All you have to do is set up an online store, and partner with suppliers who’re ready to store, package, and ship orders to your customers. If you’re searching for easy online business ideas to pursue, dropshipping might be a good option for you.
Here’s a perfect breakdown of how dropshipping works:
Image source: Oberlo
If you want to start your dropshipping business, you will need to do extensive market research and identify critical products in high demand and can be procured easily at discounted prices. Check high-selling products on the leading ecommerce website, including Amazon, to gauge the current trend.
Learn more about dropshipping by taking an online course or by reading my best guide to dropshipping.
2. The Best Online Business Idea: Start a Profitable Blog.
When you start an online business, you’re most likely selling one of three things:
- Your time (coaching or consulting).
- Your own products (ecommerce or SaaS).
- Someone else’s products (affiliate marketing or ads).
With a blog, you can sell all of these from one website and make the most money of any online business idea out there.
So how do you get started?
First, you need to reject common blogging advice and learn how to blog like a business from day one.
A lot of common advice from successful bloggers (who all started 4-10 years ago mind you) is to “write about your passions” so that you can make a decent side income within a few years.
I never liked this generic advice. I always felt that it was written to appeal to the widest possible audience and it never gave tactical step-by-step guidance on how to grow from zero.
The entire reason I started this blog in 2019 was to prove that most blogging advice on the internet is outdated and you absolutely can make life-changing money in months, not years.
You just need to scale and treat it like a business.
If you’re interested in learning how to start a blog and follow the exact formula that made me over $20k in six months, check out my best guide to starting a blog.
Some of the steps I cover in my 15,000+ word blogging guide include:
- Choosing your blog’s niche based on four primary business factors, not your passions.
- How to choose your domain name and set up web hosting for as low as $2.95/month with a company like Bluehost.
- How to install a simple WordPress theme along with all of the relevant plugins bloggers need.
- Getting to know SEO tools and performing keyword research to generate traffic to your site.
- Becoming well-versed in SEO writing to help your content rank.
- Scaling your guest blogging and link building strategies to build Domain Authority.
- Monetizing your blog with the right tactics at the right stage of your blog’s growth.
My email list will help too: To help you further, you can follow along with my free 7-day email series on how to make $5k in 95 days (plus you’ll get a free 8-Page WordPress Blog Launch Checklist). You can sign up for this email series at the bottom of this article or in the right-hand sidebar.
If you’re ready to get started now, I recommend you sign-up with Bluehost for $2.95/month, which is 63% off their regular price.
Blogging is the ultimate low-risk, high-reward business idea, and my top pick for 2020.
With a low barrier-to-entry and high profits, it’s a great idea, even while working full-time.Launch Your Blog with BlueHost
3. Catering Services
You don’t need expensive premises to run your own catering business and could even operate your service from home, keeping overhead to a minimum. People and businesses are willing to pay for quality caterers, making this business profitable for those who work hard and have the determination to succeed.
4. Online Courses and Coaching
It has become easier to share your knowledge or expertise via online course platforms. If you are a subject matter expert or passionate about something, then you can convert it into a substantial income.
You can offer online coaching classes to students, build a community to help while building your online coaching business. You can set up a Facebook page or even a podcast where you can reach out to people looking for online coaching classes.
There are also several online platforms, including Thinkific and Teachable, to help you get started quickly. You can register on these platforms and start coaching right away.
You can get started today with Thinkific Pro Plan or Teachable Pro Plan with links below.Try Thinkific Try Teachable
5. Website Design
Websites have become the ‘windows of every successful business’, hence quality and creative website designers remain in high demand. Again, low expenses and high rates make web design a lucrative business to run, providing you have the creative and technical know-how that is!
6. Graphic Design
Companies are always on a lookout for graphic designers for branding purposes.
From designing marketing collaterals, including banners, posters, and logos to creating stunning designs of landing pages, the opportunities here are immense.
You can pitch your design skills to small business owners or individuals to start your gig. Graphic designers can also join freelance websites like Flexjobs to find relevant work.
If you have prior knowledge of this field, then getting clients would be helpful. However, learning the basics of graphic design from scratch is pretty easy, with a vast number of online courses.
You can leverage graphic design software like Adobe InDesign or Photoshop to learn the foundation of graphic design.
Here are some amazing graphic design courses that will give you a great head start in this career:
- Fundamentals of Graphic Design (Coursera)
- Graphic Design Fundamentals: Getting Started (Creative Live)
I recommend you get started with Adobe Photoshop as part of Creative Cloud.Try Adobe Photoshop
7. Business Consulting
Businesses are willing to invest in quality business consultants who can help them achieve the results they are looking for. They’re also willing to pay hefty amounts for the right advice, which, tied in with low overhead, makes business consulting a profitable business to embark on.
Of course, effective business consultants do require sound business acumen and knowledge, so this isn’t necessarily the right opportunity for everyone. but if you are knowledgeable on a particular field you can give it a try
8. Instagram Influencer
With the rise of social media channels like Instagram, now consumers are increasingly turning to niche influencers to get advice on a product they are looking to purchase.
This is what being an Instagram Influencers is all about.
The term evokes images of promoting energy drinks and raving about skincare products.
Example like Kylie Jenner.
But it’s much more than that.
First, you have to choose your niche. It can be anything, from tech to beauty to health. Make sure to select the domain area you are passionate about and are well versed with.
Next, you have to build a solid Instagram following by posting interesting stuff about your life and talk about things that are relevant to your target audience.
Once you build a healthy following, brands and affiliate marketers will contact you automatically for collaborations with handsome pay-outs.
People with the right marketing skills, know-how, and thousands of Instagram followers can earn anything from $500 to $6000 per post. Even if it can publish 3-4 posts a week, it becomes an extremely profitable business.
You can check out my full guide to making money on Instagram for more tips.
9. Courier Services
Other than the outlay of your vehicle to deliver the goods, self-employed couriers don’t have a large overhead. Getting lucrative contracts from the major courier firms can prove profitable. However, in a competitive market, being awarded lucrative contracts can be challenging.
10. Online Tutoring
You might be a math genius, a native Spanish speaker or a nifty guitar player. Whatever your talent, offering to tutor online can be a great way to earn an income with exceptionally low expenses.
The only downside to online tutoring… You need to have a skill others will want to learn!
11. Affiliate Marketing
It’s been a buzzword in the marketing arena for quite some time.
When someone asks how to make passive money online, a lot of people automatically envision affiliate marketing. Brands that want to sell products online create new affiliate programs and allow affiliates (publishers and bloggers) to promote their products and earn commissions.
According to one blog income report study, bloggers making between $7500 — $25k per month make 38% of their income from affiliate marketing.
In simple terms, Affiliate marketing is a business model where bloggers and influencers recommend services or products they like or find useful, something that will be genuinely helpful for their followers, and earn a percentage of profit for each sale that follows.
Here’s a perfect rundown of how affiliate marketing works:
To get started, register with networks like ShareASale, Awin, Rakuten, or Clickbank to start making money from the type of content being published on the website. The income will gradually grow along with the growth of your website – Sky’s the limit here.
To get more pertinent insights, check out this blog post of mine about the 105+ best affiliate programs to join this year.
12. Real Estate Brokering
The profits associated with real estate remain high and if you want to enter this industry one of the most cost-effective ways to do so is to set up a real estate brokering firm.
Real estate brokers act as an intermediary between sellers and buyers and all you need to get started is a brokerage license. That said, finding your own clients can be challenging, given the number of real estate brokers there are.
13. Warehouse Storage
Got a spare garage or building that’s not being used? If so, you may want to think about offering warehouse storage services. Providing a place for businesses and individuals to store goods and items can provide a highly profitable and predominantly passive income. Though it must be said, the job isn’t exactly stimulating and therefore isn’t for everyone!
14. Website Flipping
Website flipping is among the new business ideas that have got everyone from work-at-home to recent graduates excited. It involves buying an already running website, improving its design and content, and then selling it for a profit. There are quite a few places where you can buy and sell websites to earn a profit. Shopify’s marketplace Exchange, for example, allows you to buy ecommerce websites that you can further improve via content marketing, SEO, and other tactics. Once your site begins to generate more revenue than when you acquired it, you can list it for sale on the marketplace.
15. Personal Shopper
Do you often get praised for your eye for fashion trends? Are you someone who friends and family come to for clothing advice? Personal shopping can be a business that builds on those skills. Personal shoppers find clothing items for clients who are struggling to find their personal style. Duties involve evaluating your client’s wardrobe, visiting websites and picking items that will suit them. There are all sorts of products on all kinds of online clothing boutiques, so you don’t necessarily have to shop offline to get this business started. Plus, you don’t need to hold any special certification or degree to become a personal shopper. If your interests lie in business ideas with low investment, personal shopping might be the ideal route to consider.
16. Social Media Manager
Billions of people are on social media, and businesses are spending millions to reach their target audience through various social media platforms. If you are glued to social channels and understand how the eco-systems work, then you can put your knowledge to good use and start your own social media marketing business.
Small businesses, start-ups, and influencers with massive social media presence are always looking for capable social media managers to help them grow their social media presence. You can pitch for social media account management and help businesses run paid ad campaigns on Facebook, Twitter, and other channels.
Websites, including Flexjobs, CareerBuilder, and Fiverr offer a lot of jobs related to social media management.
17. Personal Trainer
Those who want to be fitter, slimmer and healthier, insure there will always be demand for personal trainers (PTs). Earning a qualification in personal training is not overly expensive and once you’re professionally qualified, you can offer your PT services. Overhead is inherently low in this industry, making personal training a profitable and sought-after business.
One of the biggest challenges PTs face is building up a network of clients in a competitive environment.
18. Greeting Cards
Greeting cards are always in style, so if you have a good eye for design or just love showcasing your artwork on physical items, this is one of the best creative business ideas for you. Before you can start looking for clients, you’ll need to have a handful of designs ready to go. Tools like Photoshop and Canva make it easy to create custom card designs. Additionally, you’ll need to stock up on supplies required to create greeting cards (ink, paper, etc.). Here’s a pro tip: if you want to keep costs low, buy your supplies from a wholesaler. Once you have the inventory sorted, start generating revenue by marketing your business on Facebook, Etsy, and other similar platforms.
19. Travel Consultant
If traveling is your passion and you are always updated about things like best airplane ticket options and hotel deals, then you fit the bill.
You can start by helping your family and friends, securing the best travel deals. It will help you earn free word of mouth publicity and kickstart the growth of your freelance travel consulting business.
Create pages on platforms like Instagram, Facebook, LinkedIn, and WhatsApp to promote your business and connect with people who want to leverage great deals. When you develop a solid follower base, you can also collaborate with travel agencies to cut exclusive deals for your customers.
To make it a full-time career, you can also consider earning a certification in travel consulting.
20. Food Truck
Providing quality food and drink will always be in high demand, though with expensive overhead, running a restaurant isn’t always as profitable as you might think. Serving food from a food truck, on the other hand, requires much lower overhead and can be an extremely profitable business venture. The downside is you have to work out of a van day in, day out, which isn’t everyone’s idea of a rewarding business.
21. Interior Designer
People have become more aware and tasteful about how their homes look. There is always a need for an interior designer who can tell which color will suit your walls and what is the right place to put your armchair.
You can take inspiration from Pinterest, which offers plenty of interior designing ideas to take inspiration from. You can even start by pitching your expertise to people in your acquaintance to gain confidence before going starting officially.
See a list of free interior design courses you can opt for to get a formal education.
22. Wedding Photographer
Wedding photography has become grander and fetches handsome pay per project. Professional wedding photographers can charge anything between $2500 – $11,000 and even more for each photoshoot.
At the start, you can build your clientele by searching online and registering on aggregators, including MyWed, to find the business. You can also reach out to potential clients through Facebook and Instagram.
To hone your skills, you can either take online wedding photography classes or learn by reading this detailed guide. Here is the list of wedding photography gear you would need to start your wedding photography business.
23. Legal Services
Quality legal advice and support come at a price and therefore those with legal knowledge can earn a tidy sum for their expertise. That said, becoming qualified to provide legal advice takes time and money and the amount of training and education required to be able to offer legal services can put many people off.
24. WordPress Website Consultant
WordPress is the go-to platform for small businesses and budding bloggers to start a website of their own. If you are well versed in how to set up a WordPress blog, then people can pay you hundreds of dollars for your skills.
Apart from WordPress consulting, you can also offer digital marketing services to your clients to diversify your revenue stream. It will help your clients bring relevant traffic to their website.
If you build a successful business as a WordPress website consultant, you can even transform your business into a full-fledged digital marketing agency.
You can learn more about building websites on WordPress through courses on Skillshare.Try Skillshare
25. IT Support
As we become more reliant on IT to run businesses and go about our daily lives, those who offer IT help and support are extremely sought-after. Quality IT support technicians can charge a decent rate for their skills and don’t require too much overhead or equipment to run their businesses. However, IT support is a competitive industry, so you’ll need to efficiently market your services to get noticed.
26. Drive an Uber
Driving an Uber can help you earn a substantial amount of side money. Apart from driving, no specific skills are required to start this side business.
If you live in U.S see all the requirements on Uber’s website to know the feasibility of your decision.
While if you live in Nigeria see all requirement on Uber’s website to know the feasibility of your decision.
And if you are not living in the above country just google Drive a Uber on your browser and the website will pop up.
However, before making a final decision, it is essential to factor in the costs of gas, wear and tear, toll charges, and maintenance to identify actual profits per month.
Disclamer: JKFirstGuide.com is supported by our Readers. We may receive compensation from the companies whose products we write about, test, or review. We are independently owned and the opinions expressed here are our own.
27. Marketing Services
Businesses and organizations will always want a quality marketing team behind them to boost brand awareness and bring them results. Marketing agencies can charge a lot for their services and thanks to advancing remote technology and the internet, marketing efforts can be done remotely, keeping overhead low and profits high.
Still, it must be said, marketing agencies are highly competitive and in order to be a success, you’ll have to show you can deliver results.
28. Develop an App
There is an app for anything and everything – and they are making thousands of dollars. Bet you won’t be able to find a niche for which there is no app built yet.
The best part is that you don’t have to worry if your coding skills are good or not. Head to this course to learn about how you can build apps with little or no coding skills. But before implementing it, do some market research about the competition, revenue model, and feasibility of the app.
Look at some of the successful apps, including Instagram and Snapchat; all were built for a specific target audience and are now worth billions.
29. Property Maintenance
There will always be a demand for people who are willing to clean gutters, repair chimneys or pull out stubborn weeds. While the hourly rate for property maintenance might not be the highest, with low overhead and high demand, property maintenance can be a profitable business to enter — as long as you don’t mind getting your hands dirty!
30. Content Writing
Almost every company with an internet presence needs help with creating content for product pages, blogs, etc. As such, starting a content writing or copywriting company could be one of the most profitable business ideas for you. Popular websites for finding those first few customers include Remote.co, Problogger Jobs, Flexjobs, Fiverr and BloggingPro. You can also join content writing groups on Facebook to promote your business to a wider audience. There are lots of ways you can make a good impression on clients, such as by offering keyword optimization or custom graphics as part of your services.
31. Buy and Sell Domain Names
Trading of domains is an old tactic to make some extra money. But if you get lucky, then you can earn millions. The domain name Insure.com was bought for $16 million in 2009.
The key is to identify interesting blog names that have the potential to sell later. Buy them with cheap hosting plans and wait until a buyer approaches you. Building a desirable domain portfolio could take years. Keep researching and be patient.
However, the long term viability of this business is debatable. Hence, it is better not to go full time with this idea. This Investopedia article explains in detail about domain trading.
Seriously, there’s no end to the line of people who struggle to find time to cook nutritious and healthy meals. This has led to a rise in meals-to-go-businesses offering all kinds of cuisine options. You can capitalize on this trend by starting your own meals-to-go business right in your city, state, or neighborhood. Contrary to the popular belief, you don’t actually need to invest in designing a large commercial kitchen. A meals-to-go business can also be managed from a shared rental kitchen. These places are usually equipped with all the essential supplies and can be rented by the month, day or hour. You can find shared-use, licensed commissary kitchens through websites like The Kitchen Door.
33. Data Analysis
Businesses are becoming data-driven to make more informed decisions. Talented data analysts, who can make sense of heaps of data and bring actionable insights on the table, are in high demand. If you are great with numbers and have sufficient technical knowledge, then this is the job you would love.
The data analyst industry also offers lucrative pay for full-time jobs as well. An average data analyst earns around $60,000 per year.
You can learn more about data analysis by taking online courses from edX and Coursera. Once you build your data analytical prowess, you can search for both remote data analysis jobs on platforms like Flexjobs.
34. Mobile Hairdresser Services
Granted, you can never charge a fortune to cut someone’s hair but that doesn’t take away from the fact that quality hairdressers will always be in demand. Furthermore, other than a quality pair of scissors and some hair dye, if you run a mobile hairdressing salon, your business expenses are surprisingly low, making mobile hairdressing a profitable business to run.
35. Tax Preparation and BookKeeping
Without needing fancy premises or expensive equipment, tax preparation and bookkeeping services come with low overheads. Furthermore, the standard rate for quality tax preparers and bookkeepers is a decent salary to live on.
That said, if you’re not good with numbers, preparing people’s tax and keeping their finances up-to-date, won’t be the business for you.
36. Car Washing and Detailing
The majority of car owners never get the time to wash their cars and keep them squeaky clean. With the increasing number of car owners, it is a great business idea to start earning handsome income in your free time.
All you need is a sponge, car shampoo, tire black, hose, and some networking skills to get the business. A mobile car wash service has the potential to generate a revenue of up to $1,00,000 in a year. So, you might even want to make it your full-time business later.
Keep researching new car washing techniques to keep yourself updated.
37. Technology Repair Services
Got a good eye for technology and how it works? If so, setting up your own technology repair business could see you in high demand as the world becomes increasingly dependent on technology.
Repairing people’s much-loved gadgets can pay well and without much overhead, can prove to be a lucrative business. Naturally, those without a knack for technology will want to steer clear!
38. Carpet Cleaning Business
Every home has at least one carpet, and they are bound to get dirty. People are always in search for a reliable carpet cleaner to get rid of allergens, dust, bugs, and stains.
You need to invest in a good vacuum cleaner, cleaning agents, and carpet brushes to launch this business. Do market research on prices to offer the best options. You can start by asking around in your neighborhood for house cleaning service requirements.
Make sure to keep on learning about new carpet cleaning techniques to upgrade your knowledge of carpet cleaning. Further down the lane, you can even hire a bunch of carpet cleaners and launch your own carpet cleaning company.
Gardening is healthy and fulfilling work requiring an element of creativity. People love their gardens and so decent gardeners will always be in demand. Although gardeners require several tools for their trade, overhead is comparatively low, making gardening a profitable business. Though again, to ensure you get the work, you may have to spend some money on advertising your services.
40. Child Care
Singe parents and nuclear families are always short of time to take care of their children. Hence, there is always a demand for compassionate childcare professionals. It is a lucrative career option if you love being around kids.
But before taking the plunge, be sure about the age-group of the kids you are willing to look after. As you gain experience, you can also open your own day-care center to look after the kids and expand your business.
To increase your chances of finding success in this arena, you might want to earn formal certification in childcare.
41. Logo Design
Got an eye for a great logo? If so, you might be on your way to starting a business where you can charge a tidy sum while not having to fork out on expensive overhead. Though be warned, logo design is a competitive industry, and you’ll have to come up with some unique and inspiring logos to remain at the top of your trade.
If you have the attitude and body for the modeling business, then this gig requires is for you. Marketers and fashion designers are always hunting for fresh models to launch their products.
However, it is important to assess what you are subscribing to. Talk to people who are already in the industry, find a mentor who can help at an early stage of your career, and make the right contacts. The job may look glamorous, but it demands a lot of commitment and hard work to reach the top.
Do you have experience in generating backlinks and improving the search engine visibility of a website? If yes, then there’s an opportunity for you to cash in on your skillset. Site owners worldwide require the services of SEO experts, so opening a business in this field could turn out to be one of your best decisions. When looking for clients, focus on a nice audience, learn from the experiences and build your portfolio – showcase your success stories and you are bound to see an influx of clients if your SEO techniques are on point. You can choose to target all sorts of companies or appeal to businesses in a particular niche, such as in the legal, health or financial sector.
44. Custom Furniture Supplier
Custom-made furniture is in high demand. If you have an eye for creativity and are good at building furniture from scratch, then you can convert your craft into a great money-making opportunity. People are ready to pay a hefty premium for a great degree of personalization and customization.
The number of people who want to make their homes look authentic is growing exponentially, and so is the business opportunity. You can get business by contacting local homes and listing your products on platforms like eBay and Amazon.
44. Virtual Dance Studio
The upsides to a virtual dance studio are pretty obvious: you don’t need to rent a big space and it’s convenient to record, publish, and share the choreography at your own discretion. Plus, there’s no limit to the number of students you can enroll in your class. To start a virtual dance studio, you’ll need to invest in a video conferencing software such as Zoom. You’ll also need high-speed internet to ensure there are no lags or buffering during the live stream. Make sure to arrange enough classes per month so that your students learn their routines fast. If you have a passion for creating your own unique choreography, you may also find opportunities to partner with dance schools to give their students access to your content on a membership basis.
45. Handmade Jewelry
Hand-made jewelry is the new fad. Teenage entrepreneurs including M3 Girl Designs’ Maddie Bradshaw and Bella Weems of Origami Owl have raked in tons of cash by selling handmade jewelry.
There are huge opportunities in the industry, with its growth projected at 5-6% per year. With no big corporate players in the field, the entry to this segment is also easy.
You can start selling online to earn a name, and if you end up becoming a household name, you can even open up a brick and mortar storefront.
Take a diploma or opt for online courses to understand the nuances of jewelry design and its making.
46. Print on Demand
If you’re looking for successful business ideas to execute, try print-on-demand. This is when you sell your own custom designs on items like phone cases, mugs, and t-shirts, but don’t actually print the artwork. Instead, you collaborate with suppliers who print your design on the product – they’ll even package and ship the product to your customers, so you don’t have to worry about logistics. Also, you only pay once you have sold the products. One of the quickest ways to get started is to create a Shopify store and install a POD app like Printify. In terms of marketing, partnering with influencers to promote your POD items is an effective way to reach out to the audience.
47. Instagram Consulting
If you know the secrets to driving engagement on Instagram, consider becoming an Instagram consultant. Clients will pay you for creating engaging captions, responding to comments, creating attractive bios, and more. You can monetize these services by charging a specific rate per hour or by the project. This is the perfect business idea for digital nomads as the whole thing can be managed from a smartphone. To become a sought-after Instagram consultant, master the skill of creating killer Instagram ads that get people to convert and buy from businesses. You can get your first clients by marketing your business on Upwork and other social media platforms.
48. Human Billboard
If you have no problems with parading around promoting stuff and grabbing eyeballs from strangers, then you can make some good bucks by becoming a human billboard. Brands can either rent out your beard or hair to carve their logo. All you need to do is to walk around in the markets and crowded public places to get noticed.
You can earn from $5 per day to $7,000 for a contract of five years. However, the business idea is quite radical and might appeal only to a bunch of people – but it pays.
The average human billboard salary can be as high as $50,242 per year.
The job of a human billboard is most suited for students who want to earn a quick buck to meet their tuition fees and other daily expenses.
49. Video Production
With increased consumption of online video content, there’s certainly a need for people who can record, edit, cut, and publish videos. Starting a video production company, therefore, might turn out to be a lucrative business idea for you. The initial investment in this business is a basic lighting set, wireless microphones, one to two cameras (and lenses), and editing software like Adobe Premiere or Final Cut Pro. See if you can find second-hand varieties for some of this equipment in order to reduce startup costs. You can offer to produce video content for companies’ YouTube channels, manage graduation and wedding videography, and more. While there’s no restriction to the types of projects you can do, specializing in a niche makes it easy to stand out in a busy marketplace.
50. Software Education
Do you have acquaintances who lack proficiency in computer software? If so, you can set up your own software education business and enroll students on a monthly basis. Pupils might include entrepreneurs looking to build on their IT skills, or other small business owners looking to master software like Excel and PowerPoint. If you have the expertise, you can lead from the front by teaching most of the classes. As your business grows and more people sign up to your programs, you can hire freelance software experts to teach students based on their area of expertise. Although you can rent out space for classroom lectures, consider hosting virtual classes to keep costs low and expand your business to international markets.
51. Junk Removal Service
Well, it is not a conventional business idea that you usually pitch to your peers, but it has got great potential. You get the opportunity to clear the junk and make it accessible to recycling units for a sustainable future.
You can also get a franchise of big companies like JunkLuggers to kickstart your business. To get started, you would need proper equipment like a truck, shovels, garbage cans, sledgehammer, and more.
Once you set up your junk removal business, go through this guide to get an idea of how to make money with your new endeavor.
52. Wedding Planner
Weddings have become more opulent, organized, and resource-intensive. To manage all aspects of the wedding efficiently, couples these days look for credible wedding planners.
You can jump into the wedding planning business right away if you have contacts with professionals like good caterers, florists, performers, travel agents, photographer DJs, and more.
The process is time-intensive and capital intensive but can bring abundant rewards. An average wedding planner earns around $40 per hour for their services. You can also get a diploma in wedding planning to take your skills to the next level and prove your credibility in the industry.
53. Pet Grooming
Pet grooming has become a thriving business idea in areas where affluent pet owners reside. From a spa and foot massage to haircut and massage therapists, people are spoiling their pets to no boundaries.
To set-up a pet grooming business, you need around $2,000 and can earn an average of $48,000 per year. Find clients in your neighborhood or look for them on Facebook and WhatsApp groups.
You can also enroll in a dog grooming course to get a better insight into the job.
Business Ideas FAQ.
What business can I start with no money?
If you don’t have any startup capital, there are still plenty of business opportunities out there. Most of them are ways to make money online by offering digital services. Here are some of the best ones:
1. Start a blog and make money with affiliate programs, ads, online courses, and digital products.
2. Become a freelance writer.
3. Join a platform like Fiverr and offer graphic design services.
4. If you have coding skills, start a business and develop websites and apps.
5. Become an online business coach and sell 1:1 coaching.
6. Join a high-end freelancing site like Upwork and become a social media marketing consultant.
7. Offer other digital services like SEO consulting, SEO writing, PPC management, or content marketing services.
What are the most successful small businesses?
The most successful small businesses have strong revenue and profit margins. Here are some of the types of small businesses that are most successful:
1. Legal services.
2. Accounting, bookkeeping, taxes, and payroll services.
3. Real estate leasing and sales.
4. Dental offices.
5. Outpatient care businesses.
6. Custom design services.
7. Warehouse and storage companies.
8. Mineral quarrying and mining.
9. Medical laboratories.
10. Secondary schools and education.
What business can I do from home?
With the rise of the digital economy, it is easier than ever to start an online business and work from home. Here are some good options:
1. Freelance writing.
2. Graphic designer.
3. Web developer.
5. Social media specialist.
6. Home tutoring.
7. Speaking and coaching.
9. Airbnb host.
10. Virtual assistant.
How can I be my own boss?
If you want to be your own boss, follow these steps:
1. Determine what you want to do and which business ideas are best for you.
2. Evaluate the market and competition.
3. Make sure you have enough money to start your new venture and set aside capital.
4. Create a business and marketing plan.
5. Choose your business name and create your brand identity.
6. Officially start your business by forming an LLC or S Corp.
7. Get your finances in order by hiring a bookkeeper or using small business accounting software.
8. Set up a business bank account.
9. Start marketing your business online by building a website and creating a social media presence.
How can I earn money fast?
If you need to make money fast and don’t have time to wait for profits, there are a lot of options. Here are some of your best options:
1. Refinance your debt to get a lump sum of cash.
2. Sign up for an online survey site like Survey Junkie to make money filling out surveys.
3. Use investment apps to that pay you back every month.
4. Utilize an ecommerce platform to sell products online and get traffic quickly by using Google and Facebook ads.
5. Sign up for a gig economy app like Fiverr and sell digital services online.
6. Create an account with an app like Turo or Spinlister to rent out your stuff.
7. Write and publish an eBook to make money on Amazon.
8. Call your bank and see what kind of account bonuses you can get.
9. Build an online course and sell your knowledge to students.
10. Become a freelance writer.
11. Host a podcast and make money selling ad slots.
There you have it, a list of 50+ small business ideas that’ll make you money in 2020. To give yourself the best chance of success, focus on one idea at a time until you find one that aligns with your abilities. Thousands of entrepreneurs have implemented these business ideas to make money, so you can be sure that you’re putting your time and effort into something viable and proven. Whether you’re a college student, a work-at-home parent, or anyone else looking to start a business, remember that there are plenty of opportunities to earn a sizable income.
You should never opt for a business idea just because somebody else is also doing that – listen to your true calling to become a successful entrepreneur.
Did you miss any of your picks of the best business ideas? Let me know in the comment section below.
Further Reading on JKFirstGuide.com: To dive deeper into some of the best business ideas, check out my free guide on how to start a blog.