All entrepreneurs should know how to spot a lucrative business idea, but sometimes we all need a little shove in the right direction. With that in mind, the article you’re reading this morning will hopefully present you with some amazing suggestions you simply won’t want to overlook. For the most part, you will have heard of all these business ideas in the past, but you may not have realised just how fruitful they can be. So, today I’m going to attempt to explain exactly why each of them is worthy of your time, and why you definitely don’t want to hesitate when setting the wheels in motion. Presuming you have enough capital to launch a new startup without stressing about investment, all you really need to do is make arrangements and employ the right people. At the end of the day, no entrepreneur gets their own hands dirty – it’s one of the perks of the job.
So, without spending too much time looking at each individual business venture, take a quick read through the rest of this article, and you should come away with some brilliant ideas concerning what your next move in the corporate world will be. Most of the suggestions I’m going to relay work well in the small business arena, but they also have the potential to be scaled up, and so they’re perfect for both new, and established entrepreneurs. This has taken me around a week to research, so I hope you’re ready for some exceptionally useful information? P.S. If you make a million from a business idea you read in this post, feel free to send me a cheque.
1. Catering Specialist
Whether you focus mainly on street food, corporate events or private engagements, opting to start a catering company could see you making a healthy profit in no time. With the right branding and marketing, you’ll find customers and clients throwing themselves at you right from the outset. All you really need to do is purchase the equipment, work on a menu with your talented head chef, and then employ some skivvies to do the prep work. Food is generally very cheap if you can buy it in enough bulk, and people are known to pay thousands for top quality catering. So, it doesn’t take a genius to work out how lucrative this business idea can be.
2. Genealogy Company
More and more people are spending time researching their family history at the moment, and while they are able to find lots of different records online, they’re never able to go as far back as they would have liked. You’ve probably seen that TV show called “Who Do You Think You Are”, right? Well, there’s a whole team of people working on finding information for that show, and they still sometimes fail within the time constraints. Starting a company that offered this service to the public would mean all your employees have an intriguing and varied working life. Also, rich people are willing to pay a lot of money to receive all their family records without having to search themselves.
3. Petrol Station
Surprisingly, there are many independent petrol stations still in business today, and so you don’t have to worry too much about losing out to the chains. While it does require a lot of startup capital, if you have it at hand, there’s an incredible amount of profit to be made. Firstly, you’ll need to buy suitable land and then apply to your local authority. If they grant you permission to build a petrol station, you’ll have to get in touch with companies like Ausenco to find out exactly what kind of pipeline you’re going to need. Obviously, safety is a top priority when working with any kind of flammable material, and so you’ll need to take this endeavour very seriously.
4. Internet Marketing
As every man and his dog are now trying to make money online, the internet marketing industry has seriously taken off. Techniques and winning strategies are constantly changing, so if this appeals to you, you’ll need to spend a lot of time finding the most up-to-date and credible staff members who have a real interest in the subject. What works one day might not work the next, and so marketing professionals have to keep their finger firmly on the pulse at all times. Whether you decide to specialise in a niche area like creative content, or you opt to start a business covering a wider range of elements is completely up to you. However, from my personal experiences, it’s easier to make a profit fast if you’re in a niche market.
5. Corporate Video Production
There are, in truth, many different companies out there already that specialise in making promotional videos for business owners, but very few do it to the level of quality you might expect, and so it’s actually quite easy to gain a significant market share in this field. All you really need are some good cameras, the right editing software, and some creative team members who know exactly how to realise your vision. In all honesty, this would probably be the most enjoyable business idea in this post were it not for the fact that it will take a long time to find good filmmakers willing to turn their hand towards the corporate world.
6. Web Design Agency
There is something like 120,000 new functional websites being published online every single day, and around 20% of these have been made to order by professional web developers. This means there’s a huge market out there for design agencies that specialise in creating the perfect online presence for local, national and international businesses. So long as you have some people on your team that understand how to write advanced code, this is an idea you could have up and running in less than a couple of days.
After checking out all those business suggestions, you should be in a better position to decide on which is most suitable for you this summer. I wish you the best of luck with everything you do in the future, and I’m certain you’ll become incredibly successful within the next five years.
Keep the motivation!