If you’re building a business idea in your head but still hesitating on when to make it happen, you could choose from one of two things: do it later or do it now. We hope you choose the latter.
Those in the know will tell you that the perfect time to launch your business is right at this very moment. However, that doesn’t mean you should take the risk especially with the current pandemic. If you want your venture to become a success, you could start by doing market research or getting inspiration from existing profitable businesses.
To make things easier for you, we’ve created a list of business ideas that can give you a high return on your investment. Never mind starting small as these business options can make you big later on!
Online businesses are a great start for aspiring entrepreneurs. All you need is a computer, a stable internet connection, a selling platform on social media, and a product or service to market.
People sell almost anything online nowadays, and it’s not hard to find a specific target market for your product. Aside from the lower cost of managing your business, you can practically run it anywhere you are, and is open 24/7. Getting instant feedback and answering your consumer’s questions can be done through chat.
Contact a reputable shipping company or personally meet up with customers to deliver their ordered items. Deliveries are crucial to online businesses, so make sure to do it right. You can also list your products at e-commerce platforms such as Shopee, Lazada, Zalora to make your products more visible.
You can be a blogger in two ways: put up your own blog or offer your blogging services to companies.
If you’re writing for your blog, be ready to create articles that people will find useful. You might want to start on a particular niche or subject area that you know inside out. Once readers know about your blog and your website traffic increases, you could then start earning money through ads and affiliate marketing. If you have your own product, you can market it to your visitors as well.
On the other hand, you could partner with companies that need writers for their blog, and get paid for every post you create for them. The good thing about this is that you can offer your blogging services to as many clients as you want. Just make sure you can accommodate all of them into your schedule.
Vaccination rollouts are happening as we speak. As people start to go out and go on vacations, the demand for renting spaces will shoot up as well.
If you have a piece of idle land, turn it into an apartment or office space for rent. Although this may seem like a daunting venture that requires a lot of money, legwork, design, and construction before finally having it rented, it is unmistakably a profitable business that will give you passive income month after month (or until the leasing contract expires).
Alternatively, if you have an apartment that you barely use, try partnering with apartment rental websites such as Airbnb. Just make sure to follow COVID-19 health and safety for your rented spaces.
There will always be a demand for food, and people are constantly finding ways to eat even at the comforts of their home. Nowadays, selling food online is popular. You just need a social media page and customers can place their orders. Keep in mind the logistics on how to seamlessly deliver your food to your customers.
Food trucks, food parks, and hole-in-the-wall’s are also some options for many aspiring entrepreneurs. Although you have to take into account that we’re still in a pandemic. It may be harder now to start a physical store.
Whichever way you choose to start your food business, it is guaranteed that serving good food should be the foundation of your venture – it’s what turns your prospects into loyal customers. Provided with excellent customer service and marketing strategies, you’ll soon be gaining new customers through word-of-mouth.
Having an online presence nowadays for businesses is a must especially given the pandemic. Establishing your business online costs you little to no money. You can reach your customers easily through social media or email.
Starting up an agency isn’t easy. It requires a lot of time especially learning the different concepts in digital marketing such as SEO, social media marketing, email marketing, and paid ads.
You also need to build a strong and credible portfolio first. You can do this by freelancing on sites like Upwork and Fiverr to find clients. Once you build a strong portfolio, you can scale up to an agency. Find freelancers or employees to cater to your growing clients. It’ll be a lot of effort at first, but starting an agency can give you multiple streams of income from different clients.
If you have an idea that you think is worth putting out there, then you should go for it against all odds. If you can back it up with a concrete plan, then your fear of starting something new should be replaced with excitement of what’s to come. Starting your own business won’t be easy, but it doesn’t have to be complicated.
A business express loan would be a perfect means to finance your equipment, operating costs, or utilities before your venture becomes stable.