Venturing into the world of entrepreneurship, fully conscious, knowing exactly what industry you want to delve into is a great thing. For a huge number of aspiring entrepreneurs, however, choosing the right industry presents the biggest problem. In the beginning, finding the perfect kind of business to get into can be very tough. You’ve probably encountered numerous “experts” who told you not to get into something you aren’t passionate about.
Don’t listen to such advice. The true trick here is to turn something you don’t care too much about into something that inspires you. Here are the 5 most profitable small business industries in 2019.
1. Mobile Business
No, not mobile app development or mobile accessory design. Here, the main idea is opening a business that travels to its customers. Mobile businesses are getting increasingly popular and are growing increasingly profitable. Here are some neat ideas to get things going.
Oh, people love having a personal trainer over. In this hectic age where everyone is running about, people are looking to save time on everything, especially commuting to places like the gym. Furthermore, they want one-on-one sessions and to have as little distractions as possible. If you are into fitness, you can try with home training sessions.
People don’t want to deal with tech support over the phone. If you are particularly tech-savvy, consider starting a business where you visit people’s homes, fixing their electronics in person. There’s good money in it.
2. Child-Oriented Business
There are more and more millennials who are becoming parents nowadays and the millennial generation is truly becoming huge, parent- and children-wise. With busy parents everywhere, you might want to consider getting into a child-oriented business.
The traditional enrichment academic subjects such as art, music, and athletics have taken quite a hit, owing to the increasing number of children in the US. This has resulted in the spike of private tutorship businesses. If you are into some of the enrichment activities, you can offer your services to the parents.
Mobile Apps for Kids
You know how kids are; extremely interested in all colorful, playful, fun, techy stuff. If you are also interested in entertainment and tech, mobile apps for the young ones are a much more profitable market to get into than the regular mobile gaming market, as it is becoming overly saturated.
3. The Sharing Economy
This may not be a no-brainer for you, but you are surrounded by businesses that fall under the branch of the “sharing economy”; businesses such as Uber, Airbnb, DogVacay, etc. The whole idea is providing an affordable solution for a market that is good for the environment and will push people into it.
Accessories and Fashion
You’ll probably agree that there is a definite surplus of clothes in the world. You can always toy around with the idea of offering rented/borrowed clothing items/accessories, for significantly lower prices. Ventures such as these are somewhat profitable, as every item in your inventory will likely generate profit for you more than once.
Equipment for Home Improvement
This is particularly convenient if you are already the go-to person for most people in your neighborhood, when it comes to home repair tools, garden equipment, etc. Of course, you can always be there for your neighbors, but consider branching out. Get some more expensive equipment and consider renting it and your pro services.
4. Online Education
Do you have expertise in something that people want to learn more about? Well, you can earn a lot by giving online courses. All you need is a platform, an amount of personally recorded content, and a small audience. It may take some time for you to grow, but it’s an excellent, low-effort source of revenue that can pay off.
If you’re good at math, history, science, or any of the more traditional subjects, making an online course that deals with one or a few of the more traditional subjects may be a great idea. As the education quality is dropping, there is a growing need for extracurricular tutors.
There is always a crowd of people interested in every language out there. If you happen to be bilingual, teaching online language courses is a fantastic small business idea. The language business is thriving.
5. Freelance B2B Services
Many businesses, world-wide, need help from freelancers with a variety of services. You can always get started on online platforms such as Upwork, or simply try and get by on your own.
Accounting and Bookkeeping
Most business owners hate dealing with accounting and bookkeeping. That’s why they hire accountants and bookkeepers. However, smaller businesses don’t really need an additional employee who will deal with accounting and bookkeeping, so they tend to take matters into their own hands. Be the business who wants to take the weight off their backs and offer your services to them.
Every business owner needs a graphic designer, but hardly anyone needs one on a permanent basis. This is why becoming a graphic designer is an excellent idea, this day and age. Who doesn’t need one?
The Best Small Business Ideas for 2019
These five branches of business are definitely the most profitable industries for your small business in 2019. Remember that everything starts with a vague idea and grows as you, yourself, grow.