Today, we’re going to talk about TOP business ideas for 2020. They are not going to be those obvious ideas that you can think of yourself like starting a restaurant or a car wash; we are going to talk about ideas based on recent trends, recent growing markets.
A very important rule! If you decide to start your own business, your motivation shouldn’t be because someone said: “It’s going to be a great business!”. Your perfect business idea should consist of the following things: it should be something you like doing and it should be something you are really good at.
1. Coworking Space
Remote workers are spurring on a new revolution for white-collar professionals, as many roles traditionally set in the office space transition to working via the web. Since loneliness is an all-too-common affliction for remote workers and working from a coffee shop isn’t always the quietest choice, the appeal of shared coworking spaces grows each year.
2. Posture Corrector
Nowadays, people constantly hunch over their phones and laptops, it’s no surprise that there’s been a rise in back and neck pain. The keyword “posture corrector” gets about 74,000 monthly searches proving to be a great startup idea for new entrepreneurs.
3. Fitness Tech
Apps related to diet and fitness account for 3.31% of all app on the Apple Store. People are constantly on the move. Making it possible for consumers to fit daily workouts conveniently into their crazy schedules closes another barrier to a healthy lifestyle.
4. Men’s Cosmetics
Men’s cosmetics industry is worth approximately $3.4 billion. One of the most popular niche products targeting men is beard oil, a part of the male grooming industry that makes approximately $6 billion in annual sales. Approximately 39% of American men have beards.
5. Food truck
Food trucks represent all the benefits of a restaurant but without the initial investment of a brick and mortar business space. Only 10-20% of food trucks fail, whereas the failure rate for new restaurants can be as high as 90%.
6. Healthy Fast Food
Think about why people flock to their favorite fast-food chains. The price, speed, and convenience offer consumers a quick way to eat on the go and on a budget. With high demand and low competition, healthy fast food makes a great business idea for 2020.
7. Reusable Bags
As people become more conscious of the waste they produce in their homes, some are starting to use reusable bags to lower the amount of plastic waste. Business ideas centered around preserving the environment can help you build a socially conscious brand.
8. Smart Apparel
With smart apparel’s surging growth rates, this niched industry is looking to net over $4 billion by 2024. This subsector is still so new, making it fresh for innovative ideas from budding entrepreneur techies.
If traveling is your passion and you are always updated about things like best airplane ticket options and hotel deals, then you fit the bill. You can start by helping your family and friends, securing the best travel deals and selling rewards flights.
Hope these ideas are useful to young budding minds out there looking forward to being Entrepreneurs of tomorrow!