11 Promising Small Business Opportunities to Seize for 2019 and Beyond
As the case that you might get tired of the usual daily grind at work, from dawn to dusk just to make ends meet, or you only simply want to supplement your income with odd jobs. Perchance, as a newly graduated student, you hold the vision of changing the world with your burning entrepreneurial spirit. Never before has the dynamic job market offered such incredible, promising and great choice of roles to choose from.
Following are 11 selected best opportunities and ideas, which are categorized into three separate sections in order to make it easier for you to visualize an accurate overall picture of what we are talking about. This article is written with the purpose of starting a small business or working as a freelancer.
How fascinating it be when you can comfortably work in your pajamas, reply to emails from an ottoman, and there is no demand for oral communication. Those are three amongst endless cool benefits when you step into the home business.
Below are jobs that will give you the chance to work from your cozy, sweet home.
In general, consulting is a business of one or more experts (consultants) that provides professional feedback to an individual or an organization for a fee.
For those who are considered as an expert in a certain field or a niche, and have a recorded history of setting up or helping business to develop can use their skill to make money from home, as hiring inside outsiders is an utmost preference amongst both SMBs and big firms in order to cut down labor cost. On the other hand, offering in-person consultations can also be a good choice.
The first and foremost thing that needs to be done is to present yourself as a professional consultant. To put it in another way, that means creating your own personal brand, who assists others in launching and building a successful business.
If you choose to work as a consulting project manager, you will have to work with a number of organizations. Though each organization is different from each other, you still work in the same field, your specialties, which often leads to the situation where you will have encountered similar projects. At that time your benefit is to know what needs to be done, what needn’t, and why.
However, this job posts a requirement of adjusting to different organizations’ project management methodologies and approaches. This is always a challenge for consultants, as each organization has its unique interpretation. MD of McManus Consulting, Tony McManus, recommends a “flexible but circumspect approach”.
While daycare centers are not usually affordable, childcare and eldercare are always in high demand.
Base on the employment outlook (2010-2020) conducted by the U.S. Bureau of Labor Statistics, daycare business is anticipated to be one of the fastest employment growth out of all industries in 2020.
Operating an in-home childcare service brings you various benefits of working from home, and it would be a perfect job for one who has affection for children. Plus, this service will never grow out style as working parents always in the need of finding someone to take care of their children.
Along with childcare, senior care services are also ranked as one of the best business opportunities. According to the U.S. Census Bureau’s report, it is predicted that in the period of 2011 and 2030, 2.8% is the number of elders will grow per year. In the light of, in 2011, the first baby boomers hit the age of 65, and the whole baby generation will have reached age 65 in the year of 2030, whom will make up of 1/4 the entire U.S population.
Nevertheless, this market will only get bigger. From the standpoint of the market’s insider, this circumstance helps to expand more business opportunities for those who meet their demand.
Though there are many seniors require medical care, the majority of them only simply need a hand in personal cleaning, changing clothes, preparing meals, and doing household chores. Running a non-medical elder care business may suit for those who are able to work with older persons.
Alike the above home-based business, this type of remote work also provides you all the benefits of working from home. All the better, by doing the online business, you will have the chance to join the workcation community (the combination of working and enjoying your vacation).
Apparently, the risk posed by an online business is much less than investing your dollars into a brick-and-mortar storefront or downtown office. As for the online-based business can approach to a larger number of potential clients, and of course, you can take advantage of workcation, based on the ability to work remotely.
To start an online business or to aim to be the next big entrepreneur online, you only need to have some basic website and communication skills along with a little maintenance know-how.
Yet, in the first instance, what you need is the right direction that will help you to success in the future. Here we suggest you several brilliant online business ideas that can actually create small fortunes.
Being a freelancer
Being a freelancer means that you can offer your service for a fee and there is no expectation for a permanent client, regardless of the fact that both of the sides can maintain a continuous relationship. In fact, a freelance is an alternative form of self-employment simulating to operating a home business versus telecommuting. Notwithstanding what has just been said, a freelancer can work as a contractor, as opposed to a home business.
Freelancers can participate in a variety of fields, below are the top 4 most common freelance jobs:
Most kinds of writing nowadays involve using a computer and having an Internet connection. This profession would fit those who prefer to have flexibility lifestyle.
The Internet is a source of information and entertainment, and while much of that is offered visually, such as through video, the written word still the domain method for delivering online content. As a result, there is a large demand for freelance writers.
Freelance web designer
A web designer is considered as a combination of an artist and a tech-geek, as they are not only responsible for the look of the website, but also the functions.
Besides the requirement for a profound knowledge of coding and programming, to become a web designer, a person should have an eye for design, including layout and color; the understanding of the effective method of using color, and font; the ability to organize and structure the site; and coding languages.
Freelance virtual assistant
Starting to grow steadily from the 1990s, the virtual assistant business is currently opening a large gate of employment for the job virtual support staff thanks to the growth and affordability of technology, along with the increase in the number of solo entrepreneurs.
Recently, there is a trend of looking for outsourcing book service. This excellent business idea has rooted for a trend of starting a business as a bookkeeper for many small business owners.
The service includes managing accounts receivable, accounts payable, reconciliation, payroll, reporting, income tax preparation, and so on.
Social media manager
Social media started out as a fun way to connect with family and friends and has now grown into an affordable, vital marketing strategy for businesses of all sizes. Many businesses are overwhelmed by all the tasks that go into managing multiple messages across many social media accounts and are hiring experts to take care of it for them. For freelancers who enjoy tweeting, pinning and sharing, then starting a social media management business, this business is for you.
Although courses in social media management are popping up, becoming a social media manager requires experience more than education:
- Understanding social media as a marketing tool.
- Acknowledging of the nuances of the various platforms.
- Having the ability to develop strategies that meet the client’s goals.
- Being able to capture the client’s voice.
- Having the ability to manage several social media platforms for many clients.
Apps/ Software development
Software engineers and developers create, test and maintain software on a variety of platforms, from mainframes to mobile devices. According to the U.S Bureau of Labor Statistics, the demand for software developers is expected to increase by 17% each year through 2023, and the median pay in 2017 was slightly over $100,000 per year, making it a great business opportunity for those who pick up the skills.
Moreover, other high demands, well-paid opportunities in the Information Technology sector include:
- Systems analysts
- Hardware/ software technicians
- Network engineers
- Security specialists
Sites like Udemy and Coursera allow you to create, sell, and profit from courses you’ve created yourself. Few of the courses are accredited, but that’s reflected in the price students pay.
Their ubiquity is recorded to be widespread. According to David Hoos, Head of Marketing at The Good marketing agency, “Online courses are huge right now. They can be incredibly helpful to develop niche skills and businesses will often use them for professional purposes. If you have one or various unique skills that you can organize and share, a course is a great way to do it!”
As first you might get surprised by this new term. However, the U.S government supports small business by contracting work out to local independents. This means there are always opportunities for small businesses to get their foot in the door with the federal government.
There are three common federal business opportunities:
Security is, understandably, of extreme importance in government buildings. While this will include security measures like cameras and alarms, security personnel are often employed in order to screen visitors and patrol in the interior and exterior of buildings at off-hours.
While you can provide security services as a sole contractor, the business is easily scalable by employing and finding work for others.
People who work in the consultancy industry are called consultants. They are hired to advise another person for a firm professionally in a specialist filed which they are an expert in.
Finding a job in this area don’t always expect to be easy. You are required to have solid proof of your capacity of doing the job, and a degree may well be required, in some cases, even a master’s or Ph.D.
Join the Gig Economy
According to Whatis.com, a gig economy is a free market system in which temporary positions are common and organizations contract with independent workers for short-term engagements. The tern “gig” is a slang word meaning “a job for a specified period of time” and is typically used in referring to musicians. Examples of gig employees in the workforce could include freelancers, independent contractors, project-based workers, and temporary or part-time fires.
This kind of economy is not accessible for everybody, but for the right person, driving for Uber or Lyft, or renting out an empty room in their home through Airbnb are brilliant ideas to make extra money.
Become a PT
PT means personal trainer, one who has skills to help others be their best are in high demand. That also includes personal trainers, for one.
According to market research from IBISWorld, personal training is a big industry which worths the amount of $10 billion dollars. PT is regarded as a continuously evolving industry that offers a various range of potential career opportunities for individuals who are interested in becoming a personal trainer.
Different from listed industries, personal training is an unregulated industry. However, advanced training, experience, and a postsecondary education can better position trainers for career success
Get into the real estate market
You can make a lot of money by starting a real estate business, whether as a real estate agent or as an investor.
For those who want to become a real estate agent, in many states, you can complete the required training to become a licensed agent and start a new career in just a few weeks or months. While it does require an investment of time, money, and effort, it can be well worth it.
Though there is no shortage of real estate agents in the industry, there’s still plenty of space for agents who genuinely want to do the best they can for their clients.
Which of those small business opportunities fit who the best?
Choosing the most suitable business idea can mean the difference between success and failure. Make sure that you are wise in choosing your path. Nevertheless, the most important thing is your passion, and that is all starting one’s own business is all about.
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