Are you looking for new business ideas that will make you rich? Great, but remember success doesn’t come in overnight.
You will have to work very hard to achieve success. You’ll have to sacrifice your comforts to become a billionaire.
This is a difficult journey, where the night is dark and full of terrors (My favorite dialogue in GOT :p ). But if you’ve a real entrepreneurial spirit, you will have to deal with these terrors and difficulties.
Today, starting a business is never been easier than ever before. There is a lot of competition out there.
Everyone is trying to start a unique business which can make money. But thing is, if you come up with an awesome idea and you think it is a hundred percent new idea, then just Google it. You’ll get thousands of similar ideas in search results.
So, question is how you can come up with the best new business ideas that are sustainable and also profitable.
Well, the answer is simple. You’ll need to keep your eyes on the latest business and tech trends, and find gaps and opportunities. In this way, you can get some good lead ideas.
Decide Which Business You’re Going to Start
First of all, let me clear some myths or misconceptions you may have in your mind.
You are not going to invent a bulb for the first time. You’re not going to find a new fossil fuel reserve or going to make an aero plane.
You are going to start a business which can resolve the problems of the people. I mean to say, the current or future issues you need to solve.
Simply, find the problems of the people and brainstorm some cost effective ideas through which you can solve their problems.
Before you finalize any business idea, see whether it matches with your skills, abilities and most important interest.
Ask yourself, do you have any relevant experience in the niche which you’re going to serve. If yes, then it is a plus point for you. But if not, leave it.
How to Choose a Right Business Idea?
In the Harvard Convocation, Mark Zuckerberg said you cannot come up with a formal and structured startup idea. You’ll have to work on it until and unless you make your idea clear.
In spare time, explore internet and find a lists of new business ideas. Read one by one and choose the best small business ideas on which you can work on. Read top small business magazines and newspapers as much as possible to find current business trends and issues.
After that, make a list of small business ideas along with the required investments. Now, it’s time to further scrutinize and highlight those startup ideas which require low financing, have high sustainability, and profitability.
Pick a specific startup idea which gets highest score in your analysis and try hard to transform that idea into reality.
I know it is difficult to explore hundreds of websites with several lists of new business ideas. To save your time, I’ve compiled a list of new small business ideas with low investment you can start right now.
Explore the following startup ideas with respect to investment, profitability, skills and certifications and trends.
Small Business Ideas with Low Investment and High Profit
1. Freelance Business
According to Payoneer survey, six countries such as India, Bangladesh, United States, Pakistan, Philippines and United Kingdom are the clear cut capitals of freelancing.
This survey shows that freelancing is getting popular these days especially in Asian countries and also empowering people to make money online.
If you live in India and want to start a business with low no investment, then starting a freelancing business is one of the best new business ideas in India which you can start with no cost. You can also find some best business ideas in India here.
While starting a freelancing business, all you need is to have a skill set which you can monetize on freelancing websites.
But freelancing is vast field. You need to pick specific field to earn money. To elaborate this idea more in detail, I’m going more share specific ideas.
2. Web Designing and Development
These days, businesses are changing their models and shifting businesses offline to online. It means that they need websites to operate online.
Think about this, there are thousands of thousands business are operating in all over the world. If you can offer web designing and development services, you can make a lot of money.
What you need is to make your own website, do proper SEO and rank your website in Search Engine for more visibility. Get orders and deliver them on time.
3. SEO Services and Marketing
Search Engine Optimization is very important these days especially when you are running your online business.
Every organization wants its website to be number one in Google for more visibility, ranking, and also to increase leads and sales. You can help them to become number one in Google. Offer your SEO services and earn money.
With the passage of time, if you get more orders then make a team of SEO experts and expand your business.
4. Content Writing
Did you know Google is indexing millions of new pages on daily basis? Yes it’s true.
Thousands of thousands websites are operating online. All of them need fresh contents to compete with other websites.
If you’ve good writing skills, offer your content writing services to clients and earn dollars.
5. Content Marketing
If you have know-how about Content marketing, then don’t waste time and pick this idea from the mega list of new business ideas. Make this skill is your full-fledge business.
6. Social Media Manager / Agency
Usually, business owners have to manage lots of other important tasks. So, they outsource their tasks to freelancers. In these tasks, social media is one of the major tasks, people outsource to freelancers.
If you know how to manage and run social media pages effectively, try this business idea. Manager social media tasks and get paid on monthly basis.
7. YouTube Channel
After Google, YouTube is another platform where people make billions of searches to watch videos. You can entertain these people by publishing relevant videos on YouTube.
All you need is to create a YouTube Channel, upload quality videos with no copyrights and publish them. After some time, when you successfully get 10 thousands views on your videos, apply for Monetization Program (AdSense Hosted Account). Once you get approved, make money with videos. More videos more chances to make good money.
8. Blogging & Publishing Contents
Few months ago, Emarketer forecasted that US digital advertisement spending will be increased to $83 billion. Most of the advertisements are made through Google and Facebook.
If you’ve a low budget, think about this blogging business. Hundreds of bloggers are making good money from blogging and publishing.
Question is how you can make money with blogging?
Here are simple steps to get started.
- Buy a domain name along with Web hosting
- Create WordPress Website
- Get some good WP theme and install it.
- Write quality and SEO friendly contents and publish it.
- Monetize your blog with AdSence, Media.net or Facebook Instant Articles.
More traffic means more chances of monetization.
9. Blog Consultant
This startup idea is something related with blogging and publishing. If you’ve good experience in blogging and know each and every thing about blogging, you can also make dollars with this profession.
The good side of this small business is that you don’t have to spend money for starting a business. All you need is to utilize your skills and experience. That’s it.
10. Buy and Sell Websites
It is difficult to rank websites on Search engines. But once you successfully rank your site and start getting ton of traffic on your blog, you can sell your website to buyers and become a rich person.
You can also make this one time idea to a proper business. Visit Flippa.com, you will see hundreds of websites available for sale. If you find some good website and you think you can run it effectively or you can sell in double price, then purchase it and earn money.
In fact, you will become a website dealer just like real estate dealer.
Apart from that, you can also sell your smart phone applications and domain names.
11. Rental Websites
It is another one of the top 10 new business ideas that you can start with low capital. Companies often need ready made websites to promote their product and services online.
If you are a good designer and developer, make some websites and rent it to Companies instead of selling them. You can charge them on monthly basis.
12. Listing Websites
You may have seen some websites where you can find properties for sale, mobile phones, or available parking spaces in the city.
You can also launch a website where you can list anything. Do some internet research and find stats how many people in your area are looking for certain products/services. Once you find a right niche, create a listing website and make it your small business.
13. Sell your Voice / Videos
On freelancing sites, you can sell anything which seems to legal and ethically good. If you’ve a good voice and can provide good transcription services then why you’re wasting your talent? Monetize it.
Furthermore, you can also make attractive videos on behalf of clients and charge them accordingly.
14. eCommerce Sites / Online Shopping Stores
These days, people often make online purchases. This trend is already famous in United States, Australia and European countries but it is also popping up in Asian countries especially India and Pakistan.
Both countries have billions of population and their needs are increasing day by day. This is a big market where you can start a successful eCommerce business.
15. Drop shipping Business
Drop Shipping is one of the most profitable new business ideas these days. Due to increasing trend of online shopping, drop shipping is also getting famous. You don’t have to worry about purchasing shipping supplies which makes it low cost to get started.
If you want to start this business, conduct a detailed research on drop shopping. How you can start this business, what will your business model and how you can turn this startup idea into a profitable business?
So, these are the small businesses which you can start with little to no money. Now, I’m going to share more small business ideas which need certain skills and governmental licensing to operate.
- How to Start a Dropshipping Business in 2020
- A Business Worthwhile: 11 Outstanding Dropshipping Tips That Will Change Your Game
Business Ideas That Require Specialization and Certifications
16. Accountancy Firm
If you are a certified public / chartered accountant, then you can also start your own accountancy firm. You can provide accounting and finance services to your clients.
Remember, different countries have different certifications such as
- Pakistan has CA from ICAP
- India has CA from ICAI
- Australia CPA
- USA CPA
- England has CA from ICAEW
Apart from that, ACCA is another certification which is globally accepted. Further, you can also start a business which is supposed to be the blend of accounts and technology. For instance, developing accounting and financing software. This is one of the best new business ideas because you can sell your accounts related products again and again. And you will enjoy good profitability.
17. Tax Practitioner
Tax is a complex activity because it involves several state laws and regulations. If you are a qualified and certified Tax Practitioner then start your own Company and offer taxation services to individuals, AOP and Companies.
18. Legal Firm
Just like chartered accountancy firms, you can also register your own legal firm, if you’ve a law degree. Companies often hire legal firms on permanent basis to seek legal advices.
You/your firm can help them in legal matters and make money.
19. Consultancy Business
It is obvious that business may fail but consultancy business will never. It is a business which can be operated without having any kind of manufacturing costs. You will only have to bear expenses which are related to cost of sales (services) and in administrative (salaries & wages).
If you start consultancy business, you can provide any services to your clients such as educational, business or real estate.
20. Healthcare Business
Approximately 7 billion people are living in all over the world. All of them have different nationalities, cultures, races and colors. But all these people usually face one common issue which is health.
Every year people face number of health problems and they spend billions of dollars for healthcare services. Even healthcare professionals enjoy highest paying jobs in America. It means that this is a big market which you serve.
According to PRNewsWire, health care business intelligence market worth will be $15.88 Billion by 2026. On the other side, Pfizer estimated that the market worth of consumer healthcare business is $15 billion.
If you are a doctor, then it is a good opportunity to start your small business. You can start your own Healthcare Business in your area. If you provide quality healthcare services to patients, your startup tree will grow.
New Business Ideas for Future
Previously, I published an article in which I revealed some future business ideas that will become profitable startups in the upcoming years. In this mega list of small business ideas, I’d like to mention these startup ideas again.
21. Outsourcing Business
22. Internet of Things (IOT)
23. 3D Printing Business Ideas
24. Starting a Co-Working Space Business
25. Investment in Real Estate
26. Consumer Goods & Services Startups
27. Healthcare Startups
28. Consultancy Businesses (All types of consultancies)
29. Collaborative Economy Business
30. Investment in Renewable Energy Sector
Profitable New Business Ideas Based on Technology Trends
Furthermore, I’ve also compiled a list of future technology trends few days ago. In that content, I mentioned top 10 tech trends that will shape the future. The basic aim of sharing those trends is to let you know that technology has an important role in business and these trends can create excellent opportunities of techpreneurs.
Check out the following trends and think how you can make things different. How you can take benefits from these future trends.
31. Rise of Chatbots
32. Increasing trend of Drone Cars
33. Virtual Reality
34. Internet of Things (New User Applications)
35. Machine Learning
36. Hyper Loop
37. Data Driven Healthcare (Health and Tech based Startups)
38. Clean Energy
39. Cyber Attacks on Websites and other online properties
40. Space Tourism
These are the small business technology trends which involves lot of future investments. No doubt, if you start a tech based business and make good investment in this sector, you will definitely reap the rewards in the future.
Interesting Business Ideas
Now, I’m going to share some new startup ideas which are based on human necessities.
41. Food Business
You know that we cannot survive without having the basic necessities. Food is one of those fundamental necessities on which we rely most.
Population is increasing day by day. According to Census, the world population is round about 7 billion. It means that this figure will increase in the future. This statistics also shows that the demand for food products will definitely increase.
Basically, it is an opportunity for the business mindset people who want to start a sustainable business. If you are living in populated countries, then this is a good business idea to make money.
Food business is a broad niche. You can pick specific food niche and run your small business easily. Here are some more food startup ideas you can think about.
42. Bake it till you make it
Who does not love to have a perfectly baked loaf of bread in their breakfast or a sweet and soft cupcake in the evening along with their colleagues?
A business of baked goods has a great potential in today’s era. You might even have a unique selling proposition in your business such as a free cupcake with an order of certain value.
43. Become a caterer
Have you ever been to a party and thought how bad the food was? You have the capability of solving that problem and generating yourself a good revenue if you start a catering business. There will surely be hundreds of parties taking place in your city; you can start off with a party of a friend.
44. Teach how to cook
Most of the people love cooking as much as they love eating. However, cooking is not an easy job and if you have a good command over the art of cooking, you might offer it to someone who wants to learn and charge a handsome fee. You might as well employ other instructors with you.
45. Become Chef celebrity
A chef is not less than a celebrity; at least Gordon Ramsey is not! Chef is the most important person at a party because he/she is the creator of the most important thing- the food. Thus, if you are a good cook, you can become someone’s personal chef. Celebrities often hire personal chefs at very handsome salaries.
46. Look after people’s diets
People are now more health conscious than they ever were. A nutrition coach or a nutritionist helps people keep track of the nutrition they take in each day. Nutrition coaches help people in controlling their diets and maintaining their shapes. Nutrition coaches too are mostly hired by celebrities because they are the ones most concerned about their fitness and their looks.
47. Tell the world about what you eat
Blogging is a new art that is attracting more and more people, especially youngsters, towards it. Food blogging is also a very common phenomenon these days; however, everyone is not very good at it, but you might have the potential to be the next best food blogger of the world. This field will also give you a chance of trying several new foods.
48. YouTube food channel
Where do people usually go instantly when they want to learn how to cook a thing or to know any other information about any foods? Obviously, it is YouTube. A YouTube food channel will not only let you earn good money but will also attract fame towards you; you will also be helping someone in need doing this.
49. Sell processed foods
What would one wish for coming to home after a long day at work? It would be that he/she gets food without having to make much effort.
Dining out daily will get out of budget, so they look for ready to eat, processed food. Processed food has a huge customer base and this business can earn you a lot of money.
50. Sell food on carts
A newer form of restaurants is having food carts on the streets or even in malls. Many people like to have an afternoon meal at the roadside with their friends and colleagues instead of going to a fancy restaurant. This is a much cheaper option for the customers to as compared to if they go to an expensive restaurant.
51. Sell grocery online
Who does not want to sit at home and have their groceries delivered at their doorsteps? Online shopping is growing more and more, and a recent development is towards online grocery stores.
These stores allow the people to order everything they need, online, and make the payment online too using electronic payment solutions.
52. People love organic food
People are very concerned about their health these days and there are very few healthy meal options when they decide to dine out; hence, this is a market gap that you must target. An organic food store is not very common these days and you might even be able to charge premium prices for the product.
53. Sell pure water
Again, an idea that relates to people’s health which makes this idea a very promising one. Apart from food, people also like to have access to pure drinking water and setting up a mineral water business will help you in targeting this area. Initial setting cost, however, is high in this business because you must buy a water purifying plant, bottles and other equipment.
54. Drive the food around the city!
A food truck will let you gain access to several areas as the truck can be driven around the city. Thus, you can drive your food truck to different events or near offices at their lunch times to get a good number of customers.
A food truck also allows you to store your required material in the truck itself, hence more easiness.
55. Sell food that’s already famous
Buying a franchise of a well-set restaurant gives a lot of benefits to you as the advertising is done by the owner, the brand name will attract many customers, you do not have to worry about the food range as it is already decided and so on. however, this too involves high set-up cost.
56. Have a domain name
A domain name will let you have your products featured on your website. Adding to this, having a domain name will make your business look more like a professional one; hence attracting more customers as they will trust your products more.
New Business Ideas W.R.T Google Trends
Here are more new ideas for business which are based on Google searches and trends. Simply, go to Google Keyword Planner or related keyword research tools and find the search volume.
57. Selfie Drones / Camera Drones
These days, the sale of drone camera / selfie drones are on peak. From media houses to individual consumers like travel bloggers are highly using these drones to captures best shots and make awesome videos.
According to Toptal, the total market size of drones is $100 billion between 2016 to 2020. Further, PWC estimates that drones will become part of daily operations across industries like agriculture, insurance, and journalism. If you intend to start a new business in 2020 or in 2021, then probably this is the best startup idea which you can start.
58. HIIT Equipment (High Intensity Interval Training)
60. Mirrorless Camera
61. Dash Cam
62. Wireless Earphones
63. Matcha Tea
64. Beard Oil
There are hundreds of other things which people search on Internet (Google) to purchase products and services. What you need is to find the product which receive stable searches on monthly basis, make a website and start your eCommerce business today.
New Creative Business Ideas
There are also innovative and creative ideas that don’t require high investment but generate good income.
65. Buy and sell Domains Names
66. Patent Something
67. Start a Popup Shop
68. Proofreading and editing services
69. Buy and Sell Goods (Become a Trader)
70. Data Analysis (Statisticians or Survey Agency)
71. Distributor (Distribution Company)
72. Airbnb Host
73. Yoga Trainer
74. Personal Fitness Trainer
75. Translation Services
76. Tour Guide
78. Dance Instructor
79. Music Instructor
80. Stock Photographer
82. Investment in Startup Businesses / Angel Investing
83. Investment Analyst
84. Car Washing and Detailing Services
85. Child Care
86. Virtual Customer Services
87. Real Estate Sales Consultant
88. Fancy Jewelry
89. Purchasing a profitable website
90. Event Planning
91. Amazon Seller
93. Public Speaking / Motivational Speaker
94. Become Influencer (Influencer Marketing)
Small Businesses That Require Investment
Not all businesses can be started with no to little money. In all businesses, startup financing is necessary to keep the business live. But it depends how much money is required to get started? Some Businesses can be started with no to little capital but some business ideas definitely require high seed financing to start.
Here are I’m going to share some new business ideas that need investment.
95. Retail Business
As compare to Consultancy businesses, there are more chances that retail business may fail. But if proper startup planning is done and start in such a market where competition is low, you may become successful.
Initially, you will have to invest money to start. But if you don’t have much capital to invest, you can think about the acquisition of franchising.
96. Project Management Company
There is lot of projects start in the world. If you’ve expertise in the project management, then why don’t you start a project management company? Offer your PM services to your clients and get paid as per your demand.
97. Investment in Energy Sector
Apart from developed countries, there are several countries that are facing severe energy crises such as India, Pakistan, and also in African countries. If you are an investor, think about this sector. You can invest today but enjoy the fruits tomorrow.
98. Green / Clean Energy
This is another one of the trending new business ideas these days. The debate for clean / green energy is on peak these days. Every country is trying to promote this sector because the way through which clean or green energy is generated, is environmental friendly. You can invest your money in this sector. For instance, starting a solar energy business.
Read Also: 10 Green Business Ideas 2020
99. Making Roads through Plastic
When I first heard this idea, I thought it’s just a funny thing. But recently, I came to know that this is one of the best unique business ideas around the world which is highly appreciated by the governments.
Recently, I saw a video shared by World Economic Forum in which they mentioned, India is building plastic roads. The developers collect useless plastic throughout the country and then do some recycling process in order to use it in roads.
No matter, if you are living in United Kingdom, Australia, United States or China, you can easily find useless plastic which people usually throw into the trash. Collect as much as possible, recycle it and use it making plastic roads. This is one of the best business ideas to make money in the upcoming years.
100. Sell and Buy Businesses
I’ve seen several serial entrepreneurs who build profitable business. Once their businesses become successful or they feel they’re not becoming market leader. They sell their businesses.
If you’ve a business and you’re not moving forward, sell it and make money. This is another one of the top creative business ideas you can think about. There are several examples you can consider while selling your business such as WhatsApp, Instagram, PayPal and Bing. You can simply sell your business and start a new one.
On the other side, if you have a good bank balance, you can also buy a ready-made business. You will not have to do lot of marketing or do branding to kickstart.
101. Did I Miss Any New Business Ideas?
It is difficult to list all the new business ideas here but I’m still trying to add more entrepreneur ideas for the beginners in this list.
But if you’ve any unique and innovative business ideas, please feel free to share in the comment box.