We take a look at some of the businesses Business Ideas 2020 that you can quickly start up and make a good profit. For those considering starting up a business, this article will guide you in what options are best to believe.
TOP 10 MOST LUCRATIVE BUSINESSES IDEAS
- #1. Accounting Services
For those that are familiar with the business world, they will know the importance of accounting to the business community. Accounting is one of the core business functions supporting nearly every kind of individual and corporation. It is therefore not surprising that accounting services are highly in demand and clients are willing to pay top dollar for such services. Services that accounting firms offer include: business outsourcing, personal financial planning, bookkeeping, and tax preparation. To start up a business offering accounting services, you do not need much in terms of overhead start-up costs except for office space, software, minimal manpower, and electronics. The average net profit for accounting services companies is about 18.3% and this offers serious potential if you are looking for a highly lucrative business to start. Accounting services remains a universal need with constant growth prospect.
- #2. Agriculture
The agricultural industry is a lucrative industry wherever you are in the world. There is always a constant need for people to eat and as such whatever agricultural product you come up with will always be needed. Depending on where you are in the world and the available market, you can go into any aspect of agriculture such as fish farming, animal husbandry and others.
the world economy hinged around Agriculture which makes it one if the most Lucrative Business Ideas for anyone venturing into business 2020.
- #3. Real Estate Sales and Leasing
Globally, the real estate market has rebounded significantly since 2008. There is a constant demand for homes as more children develop into adults and require homes of their own. You can set up a real estate company if you have the funds, acquire lands and develop them, and eventually sell those properties at a profit to end users who require them. You can also become a real estate agent, linking potential buyers of property with sellers. You will then earn an agreed percentage of the sale. To become a real estate agent, you do not need much capital although it will be a big boost if you have a physical office as that will increase the confidence of potential clients in dealing with you. Generally, overhead costs tend to be low and agents can work from almost anywhere.
- #4. Copywriting
The importance of copywriting to business community cannot be overestimated. Copywriting serves a valuable purpose in the market as it connects talented writer with companies that need promotional services. For those keeping up with recent trends, they must have noticed that the demand for quality web copy has accelerated, increasing the need for skilled professionals. Modern copywriters create advertising and marketing materials used by companies in various forms such as a social media ads, website copy, blog posts, and even email messages. To be a copywriter, you need no formal education and this makes this industry quite easier to adopt even for those with no previous experience of content creation. You will also have no need to invest in a costly commercial space as most copywriters work from home on a freelance basis and pay very little in overhead expenses. The demand for good writers is quite high right now which makes it easy for those seeking clients to get them. As easy as it is to start up in this industry, writing is an art and it doesn’t come easy. Only those with true talent for language are bound to succeed in this field.
- #5. Personal Training and Fitness Instructors
The demand for qualified fitness instructors has grown tremendously over the past few years. Athletic centers are now a prominent feature of major cities around the world and this trend is not set to abate any time soon. These centers offer a combination of standard gyms and specialty centers like Crossfit boxes. Although fitness trends come and go, there is a constant demand for educated trainers and instructors. There are two models with which a personal trainer can operate. One, run a self-owned gym where clients can join and exercise, two, under the umbrella of a larger gym on a contractor basis. This system provides a high level of flexibility that allows professionals to work with or without significant overhead. It is quite easy to get started in personal training as reasonably fit individuals only need to take certification exams to be qualified to work in the field. In some cases however especially for those who work as instructors, little formal education outside of a demonstrated knowledge of the subject matter may be required.
- #6. Funeral Homes
This may be surprising to some but a lot of people are aware of the fact that funeral homes are a highly lucrative investment. There is always a demand for funeral services no matter the state of the economy. People will always transition to the great beyond whether the economy is good or bad and as a result, funeral services will always be a booming business. You will be required to possess some level of formal education and a sizeable initial capital to get started in mortuary sciences in most countries. You will need to set up a physical office location, high-cost inventory like caskets, as well as the space and equipment for preparing deceased loved ones for wakes, funerals, cremation, and interment. You will, however, be able to recoup your initial investment in no time with a steady stream of customers. Service charges in the funeral industry can be quite high which makes it a very lucrative business.
- #6. Cleaning Services
Not everyone loves cleaning while some are hampered by a lack of time to do their cleaning themselves but it’s something we cannot do without which is why some prefer to have others do their cleaning for them. Cleaning services help to manage tasks that many people do not enjoy or do not have time to complete both in residential and commercial settings. Due to the nature of cleaning service, a physical office is not a must, equipment costs are not that much on the high side and the operation hours are quite flexible. Starting a cleaning service company can be quite easy and straightforward and the rewards, quite astonishing for carrying out basic but essential duties. Labor is very affordable as no formal education or experience is required to work as a residential or commercial cleaner.
- #7. Schools
Education is a basic need for all children all over the world as it helps to equip them with necessary skills and resources to enable them handle the challenges of adulthood. Adults are also not left out as they also need to update their knowledge periodically to ensure they stay relevant and in tune with happenings in the society. Education is considered an essential part of self-improvement as well as a legal requirement early in life, which is why billions of dollars are spent annually on educational needs. Setting up an education outlet in the form of Schools, Preschools and daycare institutions, Tutoring, Test prep services, and Testing centers will ensure you get a slice of the cash changing hands in this industry.
- #8. Party Services
Humans are social beings and will always create avenues for socializing. Parties and events are good social outlets and people go above and beyond to organize talk of the town events. There is no bad time for a party, which makes the party services industry a great opportunity for those seeking stability and profitability. No matter the state of the economy, even in times of economic depression, weddings, birthday parties, and corporate holiday parties continue to play a role in social calendars, providing steady revenue streams. Also, party services can be quite flexible and versatile, covering planning, catering, bartending, and serving, among other functions. It is quite easy to establish a business in this industry and labour is cheap too as no formal education is required to carry out most of the duties in this industry.
- #9. Oil and Gas Business
In oil-rich areas of the world, oil and gas business is a very lucrative business, with huge earning potential. In whatever aspect of the oil and gas industry you are involved in, there is wide profit window for you to take advantage of due to the fact that oil and gas are in constant demand. Economies of countries depend on the availability of oil and gas as a lot of our current technology still depend on oil or gas to power them. The downside of this industry is that it is capital intensive but you are bound to recoup your investment.
Conclusion On Top 10 Most Lucrative Businesses Idea 2020
These are some of the most lucrative businesses that you may engage in. If you venture into any of these businesses, you are bound to make significant profits.
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