20+ Small Business Ideas That’ll Make You Money in 2020
With so many business ideas in 2020, it can be hard to figure out which are worth pursuing. While jumping on a new trend can sometimes be risky – it can also be highly rewarding. You may notice that a lot of the ideas on this list have been growing in popularity recently. Others have been popular for a long time making them more competitive but less risky. However, all the small business ideas below will help make you money.
- 20+ Best Business Ideas of 2020
- 1. Dropshipping
- 2. Translation
- 3. Home-based Catering
- 4. Virtual Assistant
- 5. Website Flipping
- 6. Personal Shopper
- 7. Online Tutoring
- 8. Greeting Cards
- 9. Content Writing
- 10. WordPress Support
- 11. Career Coaching
- 12. Email Marketing
- 13. Meals-to-go
- 14. Website Testing
- 15. SEO
- 16. App Development
- 17. Stock Photographer
- 18. Virtual Dance Studio
- 19. Print on Demand
- 20. Instagram Consulting
- 21. Video Production
- 22. Software Education
- Want to Learn More?
20+ Best Business Ideas of 2020
If you have been asking yourself what business to start, then this list is for you.
Let’s take a look at the list of ideas that’ll make you money in 2020:
Are you looking to sell products online but don’t have the money to buy and store inventory? Consider dropshipping! Dropshipping is an ecommerce business model in which you don’t have to manage any physical products. All you have to do is set up an online store, and partner with suppliers who’re ready to store, package, and ship orders to your customers. What’s more, you don’t need to spend hours on product research because you can use dropshipping apps like Oberlo to find awesome products to sell. Check out this dropshipping tutorial to learn more. If you’re searching for easy online business ideas to pursue, dropshipping might be a good option for you.
One of the reasons that people are often drawn to dropshipping is that you don’t have to hold inventory. However, if holding inventory isn’t an issue – maybe there’s enough room in that spare closet – then you can also source products wholesale. Online marketplaces like Handshake enable small business owners to find unique, high-quality products and build long-lasting relationships with suppliers. It’s worth checking out as a supplement to dropshipping if you already know what you want to sell.
Multilingual people are always in demand, so if you can speak two or more languages, consider starting a small business where you can monetize those skills. You can start looking for clients on websites like Upwork and Flexjobs and slowly build your portfolio. As you work successfully with more and more companies, you can hire more translators who specialize in other languages to expand your service offerings. It’s also a good idea to market your business on social media websites as it can help you reach a wider audience.
3. Home-based Catering
If you have a knack for cooking and see it as a creative outlet, you can make a decent income by opening a home-based catering business. The initial investment depends much on how big you want the setup to be. For example, if you start with smaller events that you can manage on your own, you should be able to start your business for less. Most home-based caterers start by creating a website, experimenting with local food markets, or joining platforms that allow cooking experts to squeeze some profits out of their culinary skills.
4. Virtual Assistant
One of the most successful business ideas is to offer virtual assistant services. Everyone from large enterprises to solopreneurs require help with the day-to-day management of their business. You can use your excellent organizational skills to take some weight off their shoulders. Of course, you’ll get paid for the time and effort you put into answering emails, scheduling meetings, and performing other administrative duties. You can land your first few clients by responding to listings on platforms like FreeUp, PeoplePerHour, or Virtual Assistant Jobs. This is a proven business model as people are always looking for efficient virtual assistants.
5. Website Flipping
Website flipping is among the new business ideas that have got everyone from work-at-home to recent graduates excited. It involves buying an already running website, improving its design and content, and then selling it for a profit. There are quite a few places where you can buy and sell websites to earn a profit. Shopify’s marketplace Exchange, for example, allows you to buy ecommerce websites that you can further improve via content marketing, SEO, and other tactics. Once your site begins to generate more revenue than when you acquired it, you can list it for sale on the marketplace.
6. Personal Shopper
Do you often get praised for your eye for fashion trends? Are you someone who friends and family come to for clothing advice? Personal shopping can be a business that builds on those skills. Personal shoppers find clothing items for clients who are struggling to find their personal style. Duties involve evaluating your client’s wardrobe, visiting websites and picking items that will suit them. There are all sorts of products on all kinds of online clothing boutiques, so you don’t necessarily have to shop offline to get this business started. Plus, you don’t need to hold any special certification or degree to become a personal shopper. If your interests lie in business ideas with low investment, personal shopping might be the ideal route to consider.
7. Online Tutoring
If you’re an expert in art, maths, or another subject, you can start the business of online tutoring. An essential prerequisite is having a bachelor’s degree in the subject you intend to teach, so make sure to cover this area before you get started. You can find online tutoring clients on sites like Skooli and Tutor.com. For the best results, always teach subjects that relate to your area of expertise because you’ll be able to share your skills and constructive knowledge to enhance the learning experience. You can deliver lectures and interact with your students over Skype, making online tutoring one of the easiest online businesses to start.
8. Greeting Cards
Greeting cards are always in style, so if you have a good eye for design or just love showcasing your artwork on physical items, this is one of the best creative business ideas for you. Before you can start looking for clients, you’ll need to have a handful of designs ready to go. Tools like Photoshop and Canva make it easy to create custom card designs. Additionally, you’ll need to stock up on supplies required to create greeting cards (ink, paper, etc.). Here’s a pro tip: if you want to keep costs low, buy your supplies from a wholesaler. Once you have the inventory sorted, start generating revenue by marketing your business on Facebook, Etsy, and other similar platforms.
9. Content Writing
Almost every company with an internet presence needs help with creating content for product pages, blogs, etc. As such, starting a content writing or copywriting company could be one of the most profitable business ideas for you. Popular websites for finding those first few customers include Remote.co, Problogger Jobs, and BloggingPro. You can also join content writing groups on Facebook to promote your business to a wider audience. There are lots of ways you can make a good impression on clients, such as by offering keyword optimization or custom graphics as part of your services.
10. WordPress Support
A lot of websites out there are hosted on WordPress, and almost every WordPress website owner requires support in form. So, if you’re familiar with the ins and outs of this platform, you’ll have several opportunities to make money. Clients may contact you to fix their CSS, find and address security holes, and more. While you can use platforms like PeoplePerHour and Upwork to get your first clients, we recommend that you create a custom website and list your services there. That way, you’ll be able to avoid high commissions and build high-quality relationships with your clients.
11. Career Coaching
With rising unemployment and a saturated job market, there’s no shortage of people needing help with finding jobs. If you have a talent for helping your friends and family find suitable employment, you can probably help others too. Consider starting a career coaching business where you help others figure out what is the best career for them, how to nail an interview, what traits define a good candidate, and more. You can look for clients in Facebook groups or on platforms like Coach.me. The best thing about this business is that you can make money by conducting 4-5 hourly sessions a month. Plus, you can coach multiple clients in a single session. If you’re looking for side business ideas that won’t occupy too much of your time, career coaching may be the right option for you.
12. Email Marketing
Are you good at writing emails? Have you cracked the code for crafting subject lines that people can’t help but click? If so, you can step into entrepreneurship and make money by launching an email marketing business. You can find companies that need help with their email strategy on platforms like PeoplePerHour and Upwork, as well as via cold outreach. Once you demonstrate that skill of enticing recipients, clients will rush to get your services and even agree to the price you quote them (major brownie points if you can help grow their email list). Startup costs include investing in email marketing tools, which will automate many of your tasks.
Seriously, there’s no end to the line of people who struggle to find time to cook nutritious and healthy meals. This has led to a rise in meals-to-go-businesses offering all kinds of cuisine options. You can capitalize on this trend by starting your own meals-to-go business right in your city, state, or neighborhood. Contrary to the popular belief, you don’t actually need to invest in designing a large commercial kitchen. A meals-to-go business can also be managed from a shared rental kitchen. These places are usually equipped with all the essential supplies and can be rented by the month, day or hour. You can find shared-use, licensed commissary kitchens through websites like The Kitchen Door.
14. Website Testing
Did you know that brands with a digital footprint hire real people to give feedback on their websites? The opinions allow them to address issues that their developers may have failed to identify. You can hire a bunch of people on a freelance basis and create your own website testing company. During projects, your employees will receive a set of questions that they need to answer as they navigate a company’s website. Through video, they’ll community their initial thoughts on the current user experience and how the site could be improved. You can find work through websites like UserTesting, Ferpection, and TryMyUI.
Do you have experience in generating backlinks and improving the search engine visibility of a website? If yes, then there’s an opportunity for you to cash in on your skillset. Site owners worldwide require the services of SEO experts, so opening a business in this field could turn out to be one of your best decisions. When looking for clients, focus on a nice audience, learn from the experiences and build your portfolio – showcase your success stories and you are bound to see an influx of clients if your SEO techniques are on point. You can choose to target all sorts of companies or appeal to businesses in a particular niche, such as in the legal, health or financial sector.
16. App Development
App development is one of the best small profitable business ideas because so many companies require an app. Not to mention, the cost of starting this venture has drastically gone down due to the growth of tools and affordable developers. Today, you can use software like OmniGraffle, Sketch, and CoreAnimator to create the wireframes and mockups before you decide to publish the app. Alternatively, you can hire a freelance app developer via sites like AngelList and Upwork. There’s also the opportunity to earn passive income by creating apps for consumers. Of course, that depends on coming up with a monetization strategy that generates recurring revenue. Good strategies include offering in-app purchases and charging for a premium version of your app.
17. Stock Photographer
If you have the ability to capture great candid moments or recently did a portrait shoot of a relative, you can become a stock photographer by registering a sole proprietorship under your name. Companies like Shutterstock, Adobe Stock and the like are always on the search for enticing images. You can get started by listing a few of your existing photos on these platforms. Once you’ve submitted your photographs, wait for people to download them. Most stock photography websites pay you a royalty for every download on their platform. Another option is to launch your own photography website and sell images directly to people, which is only viable if you have the resources to invest in marketing.
18. Virtual Dance Studio
The upsides to a virtual dance studio are pretty obvious: you don’t need to rent a big space and it’s convenient to record, publish, and share the choreography at your own discretion. Plus, there’s no limit to the number of students you can enroll in your class. To start a virtual dance studio, you’ll need to invest in a video conferencing software such as Zoom. You’ll also need high-speed internet to ensure there are no lags or buffering during the live stream. Make sure to arrange enough classes per month so that your students learn their routines fast. If you have a passion for creating your own unique choreography, you may also find opportunities to partner with dance schools to give their students access to your content on a membership basis.
19. Print on Demand
If you’re looking for successful business ideas to execute, try print on demand. This is when you sell your own custom designs on items like phone cases, mugs, and t-shirts, but don’t actually print the artwork. Instead, you collaborate with suppliers who print your design on the product – they’ll even package and ship the product to your customers, so you don’t have to worry about logistics. Also, you only pay once you have sold the products. One of the quickest ways to get started is to create a Shopify store and install a POD app like Printify. In terms of marketing, partnering with influencers to promote your POD items is an effective way to reach out to the audience. And to evaluate whether print on demand is the right option for you, watch our video where we get into a healthy debate with Wholesale Ted (a print on demand company).
20. Instagram Consulting
If you know the secrets to driving engagement on Instagram, consider becoming an Instagram consultant. Clients will pay you for creating engaging captions, responding to comments, creating attractive bios, and more. You can monetize these services by charging a specific rate per hour or by the project. This is the perfect business idea for digital nomads as the whole thing can be managed from a smartphone. To become a sought-after Instagram consultant, master the skill of creating killer Instagram ads that get people to convert and buy from businesses. You can get your first clients by marketing your business on Upwork and other social media platforms.
21. Video Production
With increased consumption of online video content, there’s certainly a need for people who can record, edit, cut, and publish videos. Starting a video production company, therefore, might turn out to be a lucrative business idea for you. The initial investment in this business is a basic lighting set, wireless microphones, one to two cameras (and lenses), and editing software like Adobe Premiere or Final Cut Pro. See if you can find second-hand varieties for some of this equipment in order to reduce startup costs. You can offer to produce video content for companies’ YouTube channels, manage graduation and wedding videography, and more. While there’s no restriction to the types of projects you can do, specializing in a niche makes it easy to stand out in a busy marketplace.
22. Software Education
Do you have acquaintances who lack proficiency in computer software? If so, you can set up your own software education business and enroll students on a monthly basis. Pupils might include entrepreneurs looking to build on their IT skills, or other small business owners looking to master software like Excel and PowerPoint. If you have the expertise, you can lead from the front by teaching most of the classes. As your business grows and more people sign up to your programs, you can hire freelance software experts to teach students based on their area of expertise. Although you can rent out space for classroom lectures, consider hosting virtual classes to keep costs low and expand your business to international markets.
There you have it, a list of 20+ small business ideas that’ll make you money in 2020. To give yourself the best chance of success, focus on one idea at a time until you find one that aligns with your abilities. Thousands of entrepreneurs have implemented these business ideas to make money, so you can be sure that you’re putting your time and effort into something viable and proven. Whether you’re a college student, a work-at-home parent, or anyone else looking to start a business, remember that there are plenty of opportunities to earn a sizable income.
Which of these business ideas are you looking to start in 2020? Share your answer in the comments below!