Hundreds of thousands of businesses open their doors on an annual basis. Given how attractive the economy has been as of late, many would-be entrepreneurs have been trying to get in on that trend by starting up ventures of their own.
One of the largest barriers that many of those people run into is coming up with a great business idea.
Circumventing that barrier is the aim of this blog post.
While there’s no one-size-fits-all solution when it comes to the kind of business that you should open, below, our team shares some good commercial ideas that we feel are worth your serious consideration is given their 2020 growth potential.
1. Financial Services
With unemployment rates at record lows, there are a lot more people out there with money in their pockets. Many of those people have no idea how to manage their newfound wealth.
If you’re a financial wiz that can help people make sense out of their cents, you can make waves in today’s business landscape.
Many financial services might legally require certain licensure to practice. Other professions in finance may have certifications that prospective clients will expect you to carry.
Look into which facets of financial services you’re most interested in, which pay the best and find out what you should acquire to run a successful practice.
2. Virtual Assistant
Some of the world’s biggest companies were founded by big thinkers. Those big-picture people are excellent at charting out what the future could look like.
What those big-picture people are not so good at is managing the small details that go into creating all of the change that they’re after.
That’s where you come in.
If you’re an organized person, sell your services as a virtual assistant that can help juggle visionary’s administrative tasks.
While being a virtual assistant isn’t a good commercial idea suggestion in the sense that it’s going to make you rich, once you build up a network of people that need assistant services, you could start employing people and build out your own agency.
3. Social Media Consultant
It used to be that businesses could go on social media, throw up some posts and get traction. Today, things are very different.
Impaction on social media has made it difficult for even the world’s biggest brands to hit their platform goals. If you’re a social expert that knows how to cut through the digital clutter, you can help out.
Social media consultants are brought on by businesses ranging from motion picture companies to escape room organizations. Consultants are hired as contractors or even as in-house full-time employees.
If you’re adamant about being a business owner, opt for the contractor arrangement and scale your company from there.
4. Home Cleaning
Homeownership is up in the United States and now hovers around a whopping 65%.
While the vast majority of those homeowners love owning the place where they live, do you know what they don’t love? Cleaning it.
If you can start up your own residential cleaning business, given the amount of expendable income that people have in today’s economy, you can make a killing.
Once you find success on the residential front, you can even branch out to commercial cleaning services to further diversify and stabilize your business.
5. eCommerce Retailer
The average consumer makes 1 out of every 10 of their purchases online. That 10% figure is slowly but surely working its way upwards and many speculate that soon, people will make the majority of their purchases online.
To cash in on that trend which is sure to continue picking up steam in 2020, source goods to sell on popular eCommerce platforms like Amazon, eBay, and Etsy.
You can acquire products from yard sales, discount stores or even manufacture items on your own.
That state of public schools in America is dire. Depending on where you live, your local school district might, on average, be producing students that fall well below basic reading and math levels.
Many parents that are trapped in these districts and can’t afford private schools opt to hire private tutors for their kids.
If you’re confident in primary school basics and are good at explaining things, this is a commercial idea go-to that’s both flexible and lucrative.
There is perhaps no business that’s easier to get off the ground these days than ridesharing. Simply pick your agency (Uber, Lyft, etc.), pass a few basic checks and start earning money.
The global ridesharing industry is predicted to grow by 11% in the next year. You can be a benefactor of that growth by getting started driving now.
8. Technical Support
Technology is slowly but surely taking over the lives of everyday people.
Many of those people are senior citizens and if we know anything about seniors, it’s that they tend to struggle with today’s latest and greatest gadgets.
A lot of people that spent years mulling over which commercial ideas would net them the best returns have found gold mines in starting door-to-door technical support agencies that are targeted at the adult community. It’s not too late for you to grab your piece of that fortune.
Our Final Thoughts on Good Commercial Ideas That Are Primed for Growth
2020 is going to be a big year for some industries and a painful one for others. In our opinion, throwing your resources behind any one of the good commercial ideas that we’ve just outlined will put you in a great position to succeed in the new year.
If you find yourself in need of more business advice as you get your company off of the ground, dive deeper into our blog’s content pool.