Looking for a new business idea? Here are some failsafe options that are sure to remain in fashion for a long time to come, and which are likely to work on a national and regional scale.
In the end, it’s not always about reinventing the wheel. Sometimes executing a time-honored idea in the right way is more than enough.
Whether it’s a pop-up eatery or a full-blown restaurant, folks need to eat, and the food business has plenty of niches to capitalize on. Now, yes, this is a risky gig, but the reality of the modern dining experience that you can sell food online, prepare it at an offsite location and deliver it right to someone’s door. Just because established restaurants ask you to sit at a table and eat with a knife and fork doesn’t mean you need to copy the formula. In the end, food is never going out of fashion, and if you get the upsell right, the margins can work a treat. A bottle of wine doesn’t need to be sold cheap, after all.
Home cleaning service
Cleaning can be a bore, and modern lifestyles are full on. Often there isn’t time to clean the pots and pans, to do the laundry, to iron shirts.
The great thing about a home cleaning service is that the barriers to entry are very low. You don’t need a lot of money to get the business up and running, you don’t need to report to an advisory or a board, and you can even ask customers to provide the cleaning equipment themselves.
Really, an ability to be flexible and an ability to market oneself are key traits here.
Second-hand or cost price stores
People love a deal and it doesn’t matter what you’re selling – if you can do it cheaper and still make a profit, you have a viable business on your hands. Whether that means buying product wholesale or scoring deals on Alibaba, add on a mark-up and score a tidy profit in the process. Remember: the best way to beat the competition is to undercut the competition.
Health and fitness
The health and fitness market is booming and the way things are going, the only way is up. With sports brands like Nike raking in billions a year, there’s a lot of money to be made in this sector. Whether you want to scope out the personal training market or start marketing and selling healthy food choices, nothing flies off the shelves fasting than the promise of better abs and a more fulfilling life.
Education – especially the teaching of languages online
Colleges no longer have ownership of the education market; their hold is waning. Thanks to YouTube and the Internet in general, remote learning is on the rise.
Language teachers in particular are in demand, and the business makes all the investment sense in the world. The overheads are minimal (you don’t need a brick and mortar office) and the business easily scales. There’s no reason a tutorial or lecture can’t be viewed – and paid for – by a single person or a million people.