Venturing into business, especially if you have been employed for years can be both exciting and challenging. Fortunately, with determination and perseverance, creating your own business is actually achievable.
Starting small will always do the trick so I’m going to provide you with the best small businesses opportunities for 2019. Continue reading below so you can find out what these business opportunities are.
1. Bike Sales and Rentals
Bike sales are increasing in number because of its environmental and health benefits, not only for you but as well as for our world. Also, America is the second most popular country with people who use bikes as an outdoor activity, which means that bike sales and rentals will surely be a hit.
Based on a study, the growth of bike commuting in the United States is 47%. In the biggest cities, the percentage is 73 in just a decade. Also, Americans are spending $81 billion on bikes annually, which also helps generate 770,000 jobs.
Remember that anything that’s popular, healthy, and beneficial for the environment is always good business. You can opt for traditional bikes or e-bikes if you want to. These e-bikes can be pedaled using electric power. In fact, it’s expected that these will increase to more than 40 million by 2023.
2. Home Renovations
If you are into construction, whether as a hobbyist or a person in the construction industry, then letting people know that you can do their home repair or renovations would be best. This is one of the small businesses that are always going well, even in times of economic issues.
Based on statistics, United States homeowners are spending around $3,000 annually on home improvement. This means that it helps generate business for tilers, roofers, drywallers, plumbers, electricians, painters, and carpenters. If you are self-employed and into carpentry, you can do home renovations and other services.
One of the best things about home renovations is that usually, it will be on a contract basis. Also, the capital investment for machinery and tools is lower compared to new construction.
3. Self Storage Units
Another good small business that you can venture in is Self Storage Units. It is also one of the businesses that is currently booming all over North America. The reason behind this is because there are some homeowners who are downsizing their homes or due to transit workforce.
Also, people who are trying to eliminate or reduce their storefront space are using storage space. Typically, a good storage unit is with good security, lighting, and a climate environment that can be controlled. Making your storage units more attractive will be better because you will gain more customers.
4. Meal Kits
With the number of people getting busier with their lives, there are some instances that they no longer have time to prepare something healthy. So if you are into cooking, venturing into the meal kits business would be best.
Based on a researcher’s study, the expected sales in the meal kit business in the United States can reach $10 billion by 2020. Usually, people choose measured and pre-chopped ingredients that can be delivered to them so they can prepare it themselves. But there are also some who want ready-to-eat meals. Everything is counted, including calories, so if you have some dietary requirements then they can eliminate certain ingredients and lessen the calories.
5. Software Development and Engineering
If you are into IT, then opening a software development and engineering business will definitely help. There is an increase in demand when it comes to software developers and engineers. In fact, by 2023, the demand will increase by up to 17%.
Another good thing about this business is that it can be a contract of employment. Becoming a self-employed contractor is a great idea. Besides becoming a developer and an engineer, you can also choose to become a security specialist, network engineer, software or hardware technician, or system analyst.
6. Skilled Trades
Skilled trades is still a career, but some people are avoiding this trade because they believe that it pays poorly. But the truth is, they are one of the most well-paid industries. Based on a research study, tradespeople will be retiring in the next decade and that is around 40% of them.
Being a skilled trader is perfect, especially since it has high demand and offers a high salary. Another good thing about this business is that it can be home-based since the task will be performed at the site of the customer’s job. Also, the capital costs are also low so you don’t have to worry about anything at all.
7. FBA or Fulfillment By Amazon Sales
For people who don’t know, Fulfillment By Amazon is a program that allows sellers of every product to wire through Amazon, which is one of the biggest online retail shops in the world. This is one of the best businesses because Amazon prefers running an online retail business and avoiding headaches. Amazon is the one who will handle customer service queries, returns, shipping, and packing.
Of course, as a seller, you will be the one responsible for shipping the products to an Amazon center. You will also be the one to create the product listing on the store. Once the listing is live and you start selling, you will receive a certain portion of sales on a weekly basis.
These are the best small businesses opportunities for 2019 that you should know about. Choose one that captures your interest and familiarize yourself about it before you push through with venturing into that business.
Based on Materials from The Balance Small Business
Photo Sources: JP Morgan, Flickr, Wikimedia, Pixabay