8 Lucrative Small Business Ideas to Consider in 2020
There is no better time to start a lucrative small business by the side than now. We have in our hands unprecedented opportunities to excel in anything we throw ourselves into and give ourselves the chance to grow. Some of the ideas of lucrative business ideas shared here have made a multi-millionaire of the people who dared to launch. The markets are underserved; meaning you too can succeed if you give it what it takes. Go through and leave a comment below on what you think.
- Restaurant business
This one is always my number one not because I love food but because I have seen women who started with nothing became everything. I have received lots of compliments from my husband that I almost thought of leaving my pay job to do just soups. But I asked myself if I have a passion for cooking. The secret to success in this business not just the ability to cook well, but passion and great business ethics and strategies. Though there are many restaurants and eateries in Victoria Island, it doesn’t stop more people from opening for business. Just provide high quality but affordable food and you will see a line up of people come for your food. A lady walked into my company requesting to see members of staff during lunch hour so they can have a free taste of her food. Some of these staff ended up buying from her every day. The whole success story won’t be told here. This Food Vendor ended up cooking for birthday parties and was further engaged as an in-house food vendor for the company.
- Uniform sewing
If you love beautiful styles and fashionable stitches like me, you will not mind owning a sewing machine and learning all it takes to bring out the designs in your head. Some people have started this business out of a passion for it. If you still need to finetune your skills, then go to fashion school in your state. You can look at a corporate organisation, make a sample of uniforms that beats what they are wearing and within budget. Sister, you will be considered for the next contract bid. Some banks, logistics, oil companies wear uniform certain day or days in a week. Try offering sample designs they won’t resist. It doesn’t end with these groups of companies. Our Force people wearing uniforms a lot of the time. Some of them may need more than 2 uniforms a week. If you are considering this business, why don’t you step up and promote yourself as one who can make and supply them quality uniforms
- Web Design Agencies
The online business presence has come to stay, and this niche will continue to grow. This means one thing Business owners will need websites and that is where you can come in. All you need is a good laptop, excellent web design skills, and business acumen in reaching potential clients. If you are like me who know a little about web design but like to go into this business, then you would have to improve your skills. Invest and sharpen your skills with https://digitalmarketingskill.com/ When you’ve come to a confident level of skillset for professional web designing, then start helping those around you create websites they would love so they can refer you to more people. Millions of small businesses are springing up. Be among those who help them create a great website.
- Dry cleaning business
These days, traffic is creating even more opportunity for businesses. The exhaustive nature of the city has made this business one of the fastest-growing in the country. People are left with little time to attend to more important responsibilities, so they outsource this aspect of their chores out. Gurl if you can put money together to get a washing machine, understand the detergent that works better with every fabric and can iron well then you are ready. This business is in high demand and I know how much we spend on laundry alone every month. If you can go from office to office in your car, you can get good patronage.
If you can speak and teach English or Mathematics, there are lots of opportunities to teach people around the world these basic skills. Pick a subject you are very good at visit sites where they are needed and sites that can connect you with students around the world and you will be paid from the comfort of your home. All you need is a good hold on the subject of your choice, computer, internet and you are good to go. If you require more information on these, feel free to write to me. I mean to write to me if you are serious about reaching the world from the comfort of your home as a teacher.
- Recruitment agency
This is another lucrative business. The problem of unemployment is never going away soon as more and more fresh graduates are turned into the labour market year in and out. You can become a recruitment firm or agent for those in a desperate search for jobs. You can become the bridge which connects people to the jobs of their dreams. You can start by cooperating with one or two companies and recruit people for them so you can have a reference point. Your recruitment agency has the potential to grow and expand if you are at finding the right people for specific job functions.
- Importation of clothes or Shoes
Wardrobe essentials call for specific clothes and shoes for different occasion. If your target is professional ladies, for example, invest in imported goods that meet their professional looks. Think about their basic workday wears such as suits, gowns, shirts, skirts, trousers and accessories. From time to time, ladies most especially like to change their wardrobes. They may have a need for new ones in quarterly or every six months. If you can take advantage of social media and showcase what is stylish, trendy, classy but affordable people will look for you. Same applies to shoes. If your targets are professionals, invest in quality shoes that will last them and stand the test of time. I am a lover of quality shoes and I love those who make them available to me at a good price.
- Retail Stores
You can start this business depending on your neighbourhood, gap and knowledge of what sells. Having a basic understanding of groceries, and home needs you can do well to serve the average person’s daily life. You can start with what you have and, in the process, add more stuff on request. However small you start, once you are solving the problems of many customers, you will begin to generate substantial revenues. One of the ways to grow is to ask, what would you like us to consider adding to the store. Monitor and take note of the request that is unmet.