Do you want to explore a new business venture? Then you have come to the right place. Come to think of it, some aspiring entrepreneurs want to open their business but they don’t have the idea what. It remains trivial for them what field they should branch out in. Don’t worry. We will help you as we discuss the top 10 most profitable businesses in 2020.
Auto Repair
Cars are an essential tool for us to go from point A to Point B. We often end up scratching our heads when it decides to break down. Going to an auto repair shop is an indescribable hassle. Imagine waiting in long queues only to be told that the problem was simple.
If you believe that you are a skilled mechanic, most automotive problems could be solved with simple tools. You may want to open a mobile automotive service. Customers would contact you and perform the necessary fixes on their car in the comforts of their own driveway.
Food Trucks
The food business will never go out of style. Eating is part of our basic routine as humans. The food truck business will just continue to expand over the years as rents in cities skyrocket. The great thing about food trucks is its versatility. You can drive up to local events, town squares, and farmers’ markets. Park on the side and wait for people to notice you. Your menu doesn’t have to be expansive too. Just sell your best products.
Note that the food truck business has its own regulations. Make sure you contact the necessary offices to secure your permits to operate.
Car Wash Services
Some people wouldn’t want to drive across town just to wash their cars. This is where the beauty of a mobile car wash shines. When you offer a mobile car wash and auto detailing, it allows you to move from place to place. This business is more popular with people who own expensive cars since they prefer a more personalized car service.
Electronics Repair
Almost everyone has a gadget of some sort, but not everyone has the skill to repair them. Starting a mobile repair service would be a blessing for those who aren’t as skilled as you in repairing broken stuff. You could bank on the negative publicity that gadget stores have come under for having long times. You’d be a top priority since you could repair people’s gadgets right in from of them at the comforts of their own home.
IT Support
Just like #4, not all people are adept in dealing with technology-related problems. All you need for this business is the transportation and your know-how of things related to technology. This one is (almost) purely profit.
Personal Trainers
Do you love personal fitness? Then might as well share it with others. Just recently, reports have suggested that Americans have begun eating healthy and exercising. You can host 1-on-1 coaching as well as group teaching in public parks. You don’t have to sign up for a gym membership or establish your own gym.
Newborn and Post-Pregnancy Services
The need for child-oriented services is rising annually from post-pregnancy to newborn care. Doulas and lactation experts are a need for new mothers. They have low-costs and requirements, aside from education and licensure.
Enrichment Activities for Children
As the number of children in the U.S. increases, the budget for extracurriculars plummet. This is why private organizations are getting more and more attention. Parents avail of their services to give their children off-school activities. If you are skilled in arts, sports, and other child-centered activities, then you may have a successful business in the making. Just make sure that you are patient and willing to teach children.
Mobile Apps and Entertainment for Children
In another branch connected to #8, you may explore mobile apps if your expertise is in technology. If you have an idea for an educational mobile app, turn your vision into a reality and start building.
Shared Accessories and Attire
This type of business banks on the sharing economy. People have turned their attention to rental services because they avoid spending too much on something they would use just once. If you have a good fashion sense, try picking up some in-demand pieces of clothing and accessories. You could start on a local level and offer rental services to students when prom season is just around the corner.
In summary
As you can see, mobility is key for these businesses. Gone are the days where you need to have a physical storefront for your services. This, however, doesn’t apply to all businesses. Some ventures require both physical and online versions of their shop in order to fully succeed. Already found your niche? Make sure you read the top five tips for you to succeed as an entrepreneur here.
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