In the wake of the global pandemic that has been raging since the beginning of 2020, aspiring entrepreneurs are likely to feel threatened because of an uncertain future. However, there are still many business ideas that can assure beginners of high returns provided these are executed according to a proper business plan. A good business idea does not necessarily require you to invest a fortune. But, at the same time, you need to undertake a proper background research before you take the plunge. Here are some of the top business ideas in 2020:
- Dropshipping: If you wish to sell stuff online but lack the capital to buy or store inventory, dropshipping business may be your best bet. This spares you of the onus of maintaining or manufacturing products; you simply create an online store and enter into partnerships with reliable suppliers. The latter will store and package the orders for you.
- Coffee Shop: Have you seen the number of coffee shops that have mushroomed in recent years? It just goes to show how lucrative opening a café can be. These are not only the perfect hangouts for friends but are soon turning into official meeting venues.
- Cooking Classes: Are you someone with a penchant for cooking? Why not use your culinary skills to teach others online? This can prove to be a very profitable venture and you will find hundreds online keen to enroll for your classes when you can offer quality and affordable recipes. It also needs minimal capital as investment and you can even start with YouTube videos to get a reasonable follower base.
- Investing in NFT: NFT investments have risen considerably over the past year. It will be setting a record in financial market very soon. The NFT investments are built on the Ethereum blockchain technology. Therefore, buying Ethereum is the essential step. The beginner’s guide on how to invest in nft will help you learn the step by step process of getting into NFT trade.
- Translation: If you have expertise in speaking more than one language fluently you can consider monetizing it. Sites like Upwork help you find clients who want translations done in exchange for attractive rates. When you earn enough you may hire more translators to expand your services.
- Virtual Assistant: This is fast growing into one of the most profitable business ideas because all kinds of businesses, big or small, need help with daily operations. Your organizational skills can streamline routine business functions like scheduling meetings or responding to emails.
- Bitcoin trading: Investing in cryptocurrencies brings you lots of fortune is the latest statement due to invention of innovative trading apps like bitcoin era. Execute a bitcoin era test to have some practical insights about how the app works.
- Website Flipping: This novel idea is an exciting prospect for new graduates keen to turn entrepreneurs. At a time when work-from-home has become the new normal, websites flipping can bring in good money. It involves buying an existing site and then upgrading its content and design to sell it for a profit.
- Career Counseling: The demand for employment counseling will never die and if you have the skills to help people find the right kind of job, consider converting it into a business venture. A career coaching enterprise will allow you to use your talent to help many others find appropriate jobs.
- Email Marketing: You can use your advertising expertise to get clients who will hire you for expanding their marketing audience. You will simply need to invest in some marketing tools to get started.
- Online tutoring: The pandemic has clearly shown us the value of this career option. You will readily find clients on many website like Tutor.com or Skooli. It is best to offer tuitions in areas that you have expertise in. you can even consider taking part in webinars and organizing lectures online through Skype.
- Meals-to-go: You will find a large audience for cooked healthy and nutritious meals. You can start this business in the place you reside and make minimal investments to conduct it successfully. You do not need to break the bank to design and build a huge commercial kitchen.