Starting a business requires an incredible amount of work, however, it might not require that many resources. This is especially true for those who plan to start a home-based business or an e-commerce business with the dropshipping system. Moreover, a person with a skill or knowledge can use the internet to find clients and capitalize on their own merit, instead of looking to be employed by someone else. While all of this may not sound like what you’ve imagined when you started dreaming of your own business all those years ago, it’s definitely the first step in this direction. With that in mind, here are the top 9 entrepreneurial ideas for 2019.
Entering a retail business
The idea that resembles a traditional business the most is entering a retail business. Starting your own e-commerce platform is definitely the best course of action in the long run, yet, you can use a pre-established online marketplace like Amazon or eBay as well. This can be done with less than $40 per month, which sets your monthly break-even point (at least on this end) fairly low. With the dropshipping on your side (something we’ve already hinted on), the necessary funds for you to enter this industry get even lower.
If you’re a person who’s passionate about animals, you might want to consider starting a business revolving around pet-related services. Here, you get to choose from a myriad of professions and even make combinations based on your skills and interests. Most people outright assume that pet-related services stand as synonymous with pet-sitting when pet photography and making dog clothing are just as likely alternatives. Some people are even making money from aquarium rentals, while there are caterers who specialize in gourmet pet treats and dog food.
The food industry
This particular idea is incredibly profitable; however, it will require you to get more certificates and pass some severe regulations, seeing as how you’re still working with food. Starting a restaurant is the traditional course of action, nonetheless, for those with limited funds, starting a home-based catering business can be equally as satisfying. Keep in mind that, as a business, you depend on the quality of your tools and even though your old stove may be good enough for a family meal, you now have to abide by higher standards. This means that you have to invest in your kitchen. Start with the essentials and get yourself a reliable Bosch electric stove, a new fridge and a brand-new arsenal of small kitchen appliances.
Selling arts and crafts
The next idea you might look forward to exploiting is making and selling arts and crafts items. The upside of this lies in the fact that the materials used in this process often cost next-to-nothing, while the tools used, seem to be standard to most toolboxes. In other words, all you need is the idea, some patience, and the necessary skill. As for marketing, Pinterest, Instagram, and Facebook are incredibly potent platforms in this industry.
While not a lot of people see freelancing as entrepreneurial, there’s really not that much of a difference between the two. First of all, as a freelancer you’re self-employed and an owner of a one-person startup. Instead of having steady employment in exchange for a monthly paycheck, you’re making contacts with your clients and are usually paid on performance. Finally, you bear the responsibility for most of your expenses, like the maintenance of your hardware and the licenses for software that you use. In this scenario, things like the broadband, the landline, and premium services become legitimate business expenses.
A professional consultant
If you have years of experience in a lucrative business niche, you can always set out and become a professional consultant. The best thing about this is that it saves you from a standard 9 to 5 job, seeing as how your assistance is needed periodically. Still, in order to get this status, you need to be certified, as well as have an impressive list of previous projects/employers/clients on your side. This alone makes the entry requirement fairly steep.
Event management industry
Another line of work that’s in an incredible demand nowadays is the event management industry. First, nonetheless, you need to pick your sub-niche, seeing as how wedding planning and organizing corporate events are incredibly dissimilar in nature. Then again, there’s the planning of humanitarian and non-profit events, that requires a different set of skills, as well as a softer approach altogether. Keep in mind that this industry is getting more and more tech-savvy by the moment. Livestreaming adds a completely new dimension to this field, the same as selling tickets online.
A construction startup
Another lucrative industry that you can enter is the construction industry. A lot of people don’t give this idea a serious thought believing that it just costs too much. Sure, being a builder-owner is an incredibly expensive line of work, the same as being hired to do major construction projects. However, what about small renovation contracts? Here, you wouldn’t need a large crew and the necessary certificates are much easier to obtain. As for the more expensive pieces of equipment, you always have the option of hiring instead of buying. In this way, you also get a person to operate the machinery.
Starting a weekend business
A lot of people are reluctant to start a business of their own, believing that such a thing would require them to abandon their day-job. Well, by starting a weekend business, you can avoid this trend in its entirety. The range of services you can perform this way is simply amazing, starting from holistic housecleaning with allergy-free products, all the way to the Christmas light installing (which is a seasonal opportunity). Either way, you can start as a weekend business and if you see that this has become profitable enough, you can always switch to full-time.
At the end of the day, you need to understand that every single industry that exists has a way of being profitable, however, for someone without previous entrepreneurial experience, betting against the trend wouldn’t be the smartest thing to do. This is why entering a lucrative field in time might be a superior compromise. With that in mind, you just can’t go wrong with any item on this list. All you have to do is choose based on your own skills and predispositions.