10 Profitable Business Ideas For 2020
Hey so in this Article we're gonna be taking a look at 10 different profitable businesses for 2020 now when writing this Article we kept in mind that many people want to start a business with a relatively small amount of money.
so we're talking a thousand dollars or less to get started some of these don't require any money upfront to start your own business now there's also going to be something here that are more so online businesses that you could do from home while others might be more physical types of businesses .
that you might be able to be a little bit out and about for it but if you're new to the channel make sure you subscribe and drop a like on this video and let's get started so the first one that we're gonna mention here is something that.
10 Profitable Business Ideas For 2020
I use quite often as a service and that is by doing your own tours through something like Airbnb experiences now we're not talking about hosting in your home with Airbnb we're talking about creating tours on this website .
so if you live in a city you can do something like this where you're not only giving maybe walking tours or historical tours or bike tours or boat tours or so many options here but there's even some ones you can get pretty creative with for example bar crawls pub crawls you can get paid to essentially take people out and drink and there's a big business in that .
so there's so many options behind this that I think you just want to look into it a little bit and everybody's not sponsoring this video but I just think it's quite interesting and a great business opportunity especially if you're great as a people person and you love talking and interacting with people this could be a wonderful option for you.
so the next one is my meal prepping and delivering food so this is not a new business this has been been around for quite some time but a lot of wealthy people find themselves with not enough time or maybe they just don't want to actually cook their own food but they don't want to eat out every day they don't want to have to get uber eats every day .
so they want somebody to kind of create these home-cooked meals for them so a lot of people for example Sam ovens does this will actually have a personal chef or somebody come in once or twice a week cook food in their home and then package it up put it in the fridge put it in their pantry.
so that they have food for the week and they know what meals are gonna have for the week and it's home cooked food and a lot of people like this and once you kind of build up his clientele it's difficult to lose these clients as people who are looking for somebody to cook for you now if if you are in the food industry this is definitely a bonus because you're already probably pretty experienced in cooking and creating meals but there's no real barrier to entry for this .
10 Profitable Business Ideas For 2020
so long as you are a decent cook and you're not a college kid who only knows how to make ramen noodles okay so the next one is by becoming a personal trainer now personal training is something that's going to be around for a very long time that's because people care very dearly about their health or at least they should and so a lot of people can't motivate themselves to go to the gym and they don't know what exercises to do and so especially .
if you find yourself as a physically fit person you like working out then you might want to explore this option because it can be a great side business or a full-time business a lot of people do it as a side business though because many people will do this before or after work so it'll probably fit in with your schedule as well you don't have to necessarily have your own gym in order to become a personal trainer it's very smart to get certified as a personal trainer but like.
I said the overhead cost for it can be very low to get started in something like this and I think it's something that really it's it's an experience that is very rewarding helping somebody go from maybe not very fit to may be the most healthy they've ever been in their life it's definitely a great experience and uplifting for most people so the next one is something that .
I was talking to Eric Hsu back in October and we were discussing some different business ideas and I asked him what he would advise people to start a business well be the number one business that he would advise and he said consulting consulting and service based businesses and there's a reason for this and it's because when you are doing something like consulting and .
10 Profitable Business Ideas For 2020
we could think about graphic design or web development web design you could think about a lot of marketing services but you're essentially providing services to people so you don't have inventory you don't have a lot of overhead costs and so your total money coming in is mostly profit it's usually about ninety percent profit sometimes you don't even have to have your own office if you are a consultant and you're going into firms and companies where-
they don't want to hire their own person in house so they just hire somebody as a consultant to come in for a day or two to provide their services so something that if you can find a skill to build in the consulting area it's something you might want to think about and so the next one here is a little bit more physical and that is by starting your own moving service business .
now when I was 16 somebody paid me 230 dollars to help move all of their furniture and their refrigerators and their massive safe from one house to the next and $230 when I was 16 that was a lot of money and I was I was dumbfounded by this when they handed the money over but they said yeah you actually saved us over a thousand dollars because .
if we paid a moving service we would have paid so much money to move all of our stuff over from one house to the next and that's when it really opened my eyes to realize there's a lot of money in the moving service business and you don't have to have your own trucks and box trucks to be able to do this you can just provide your labor .
if they essentially will maybe rent a u-haul you can provide your labor and start a bootstrap your own moving service and there is a decent amount of money in this obviously it's very laborious and it's not something you can do for a long period of time without kind of outsourcing some work and hiring some other people to do some heavy lifting after some time .
so there are some more on this list here and this next one is by starting your own Etsy store now you could also think about maybe starting your own eBay store but Etsy is a little bit more artistic for people and a lot of people will sell vintage clothing on there they will create jewelry create different products that they can then sell and what's great about this is that there's really a search engine within Etsy so when people search certain products you don't have to do the marketing behind it because it's already in that database.
10 Profitable Business Ideas For 2020
so it's not like you're creating your own product and then trying to start your own website and build that website up so you can get SEO and and kind of get found on Google or trying to promote it on Instagram so directly through Etsy and it's kind of already taken care of a good portion of that marketing and that's what I like about something like that but even people will go to for example thrift shops and yard sales buy clothing sell it as vintage clothing on Etsy and get a lot of money we're talking $100 for some jackets that you can buy that people found for $1 at a yard sale so there could be a lot of money in that and.
I wanted to include it in this list because it's something that people can do primarily from home or whenever they really have some spare time on their hands to make some extra cash number four is to sell a physical product now in some cases there could be a little bit of a cost behind this especially if you need patents for products but there's obviously a lot of money in this Pat Flynn just launched an interesting essentially tripod kind of matches the gorilla but he launched it and he funded .
it through I believe Kickstarter which is a website not sponsoring this video but a website that essentially allows you to crowd fund for your business for your product that you might be selling so back in the day if you wanted to launch a product you would have to find an investor somewhere and probably go to angel investors or large business owners and try to get them to invest into your company .
well today you can do something known as crowdfunding which essentially means that thousands or hundreds of people can pitch in money maybe 20 or 50 or $100 into your business for your physical product idea and then you can sell that and essentially raise capital capital that way so that you can start creating this product and building it building prototypes and selling it and.
so I think it's just a quite interesting idea if you're trying to create one look you want to find a way to fix a problem solve a problem or find a way to make something more efficient in our everyday life that's really a move that people are going for is just find something and make it more efficient it sounds easy but it's very difficult trust me.
10 Profitable Business Ideas For 2020
so inventing something very difficult but could bring up a lot of money so the next one is starting your own event planning service now there's really two rounds that you can go here you can go with something more so on the corporate side of things like for example you're hosting corporate events you're planning these different meetings and conferences or you can go the social personal rail where people are needing people to help plan for their weddings.
I know personally when I have a wedding I'm not gonna want to worry about the stress of trying to plan everything out and make sure that the logistics are all lined up I want somebody to do it for me and so there's a lot of money in that industry about 500 billion dollars or spent every year on special events around the world so people are throwing a lot of money at this .
you can start your own event planning service it's not easy it's not something you just walk into especially weddings they're a very special day so you don't want to mess that up but build experience over time shadow somebody and then eventually start your own service.
so number two is to create your own clothing business now so many people try and fail at this and the reason for that is because a lot of times they don't have a specific enough target market so you can't go after everybody it's hard to just launch a company like Nike or supreme or Gucci but in many case is look you want to think about the way that people feel when they wear that clothing .
so if you're just creating a brand and throwing a name on a t-shirt and just trying to sell it with no meaning behind it and no specific target market it's gonna be very difficult because people are just gonna look at and say oh but you want to create a sort of a feeling that they get what how does it represent them .
what type of person are they and that will kind of give you a better idea of how to target specific people for example when somebody throws on a Gucci jacket that they bought for $5,000 do they buy it because they like the way that it looked probably most likely but there's also a lot of people who buy it because they like the way.
that it feels when people are looking at them seeing you know that's a $5,000 jacket everybody knows it and so it gives them this feeling that people really like in a way that they express themselves so this is something you want to really think about very deeply before you just go out and make some t-shirts and try to sell them without true meaning behind it .
so the final business here might not be of scalable million dollar business but I think it could be a great side income for people to make and that is by starting your own pet-sitting service now a lot of people when they go on vacation they don't want to take their dog to the kennel .
they want to keep their dog at home but obviously you can't leave it there for a week or their cats so somebody comes in and takes after them takes care of them and gets paid usually a couple hundred dollars for a week of just feeding their animals and hanging out them.
playing with them a little bit and making a decent amount of money you get a bunch of clients lined up and these clients will usually last for a very long time.
10 Profitable Business Ideas For 2020
we're talking in lifetime customers every time they go on vacation you look after their animals and make a couple hundred dollars and it could be a great side income to make at least ten or twenty thousand dollars per year by doing this .
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10 Profitable Business Ideas For 2020
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10 Profitable Business Ideas For 2020
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