When it to earning extra cash, a lot of people are turning to start new businesses from their home. The internet has opened the marketplace, reaching new people and attracting customers with a minimal initial investment. This accessibility means that when it comes to starting a business, it is now easier than ever. Despite this, many small business ideas never get off the ground.
The ease at which you can try out new ideas means many people start companies before they have even been thought through properly. Therefore, these businesses often fail to get off the ground. Any business needs a thoroughly thought out business plan, and some ideas are better than others. In this article, I look at some of the best ideas for home businesses that should be money-spinners for 2020.
While pimple popping videos on YouTube have been growing in popularity for years, the business of getting rid of blackheads is a relatively new one. As a business idea, this is a good one as the initial investment in products is low cost. The market saw substantial growth during 2019, and this is set to continue throughout 2020. Think of this as a low-cost, long-term investment.
Like death and taxes, blackheads will always be around. A blackhead removal product is something that there will always be a need for. You can also quickly expand this type of business into other verticals such as skincare, or complementary therapies.
As more and more people do jobs that require them to be sat at a desk all day long, then back pain and back problems are becoming one of the most common complaints of the modern age. Search analysis shows that around 246,000 searches on the words’ back pain’ are carried out each month with remedy or relief being the most common term added to the search. This research shows that people are always on the lookout for ways of getting rid of their back pain.
While a good back massage is a thing that would help the most, getting a professional massage is often out of the price range of a lot of customers. This is where you go for the next best alternative and sell back massagers directly. These can often help alleviate the most common types of back pain without the need for expensive treatments. Start by creating a blog that identifies the most common causes of back pain and points towards methods of pain relief such as your massagers. This can then be shared across social media to spread the business.
Voice Translators and Translation Services
The internet and communications have done a great deal to make the world a smaller place, and you can find yourself interacting with people from all over the world daily. While English tends to be the language of business, if you only deal with people who speak English, you are limiting your market.
This gap is where online translators such as Google Translate come in handy. The technology is now getting to the state that there are on-the-fly voice translators available for people to buy. Translation services is a market that savvy business people can tap into and expect success. You can market directly towards people in jobs that involve a lot of business travel, particularly to non-English speaking countries. Social media and places like LinkedIn and Facebook will enable you to interact with your customers quickly and easily.
Global consciousness is now open to the problems of single-use plastics and how to eliminate their waste. This has been coupled with governments making moves to reduce their usage as well. Introducing laws that put premiums or extra costs onto single-use plastic means that consumption of things like plastic bags at supermarkets is on the decline. This is where reusable bags come in.
Making a bag that is easy to transport and durable enough to be used over and over means that more people will want it. Producing something that is relatively cheap and yet still fashionable and stylish will find a market that is ready to snap it up. This, therefore, can be a great business to start, and there will be many ways to promote it on social media.
Athleisure and Streetwear
Athleisure is a term that was non-existent before 2014 and is still not a term that many people are familiar with these days, even if they are familiar with what it represents. Brands use the phrase to describe clothing that looks like people use it for sporting or athletic activities when customers really use it for everyday fashion or even workwear. Yoga pants, leggings, sports shoes, shorts and even tights are all part of the athleisure trend. This market has been one of the most significant growing segments in the fashion industry for several years and is a trend that will continue until at least 2022.
Streetwear is also another fashion niche that is following the same trend as athleisure. Men’s streetwear amongst the younger generation is the largest growing market. If you can get some social influencers to promote your brand and or products, then you will find that your stuff is flying off the shelves.
Plus Size Clothing
As the population increases, the demand for larger sizes of clothing is only going up. Therefore, creating a niche in this area is a great way to find a market. What you do need to be careful of is how you market it.
While everyone is aware of what ‘plus sized clothing’ means, this is a very loaded term and carries a certain amount of negative connotations with it. Therefore, you need to market your line of clothing carefully so that it appeals to the market you want to target. ‘Curve appeal’ is how the retailer Suzy Shier sells its range of apparel. Any way you can put a more body-positive spin on your clothing, the better it will appeal to the market. You are still able to optimise your website to pick up ‘plus-size’ and similar keywords so that you don’t miss your market. Social media can be your best friend as you encourage your customers to ‘live their best life’ and ‘fall in love with the body they have.’
While this is a relatively more old-archaic product, as beards have now returned to fashion, the use of beard oil as also joined it as a new fashion accessory to have. Youth culture has brought the beard back into fashion, and Millenials are experimenting with new ways of wearing the goatee. This means that the market has reopened to innovations in beard products, and this is a rapidly growing segment.
Men’s toiletries are a growing market that is worth around $3.4 billion a year. The ‘beard lifestyle’ is one that appears to be here for a while, so get in on the trend now while the market is still here. This trend isn’t one that is likely to remain for the long term, but the right product with proper marketing can make truly a splash.
Meditation is an area that has been steadily growing over the last few years. There are around 823,000 monthly searches for ‘meditation’ in Google, so it is safe to say that this is something that will be around for quite a while. You will want to start by building an audience through content. A profitable blog will be a great place to start, and you can create a community around the articles you publish.
You want to make sure you focus on your content to start with and expand it using YouTube and other social media channels to reach out to your audience. You are then able to leverage this into products such as eBooks and audio tracks. It seems that everyone is looking to find some peace in their life and meditation is the perfect avenue to do this. Therefore, you have a market that is looking for content, and you can take great advantage of it.
High-Intensity Interval Training
If you are looking submerge yourself into the fitness niche, then High-Intensity Interval Training, or HIIT, is one of the fastest-growing trends in the market. Tending to peak in search terms during January to August this has seen searches hit around 246,000 searches per month.
HIIT is a fitness trend that is just on the up and has a market that is ready to be tapped. If you can create fitness videos on YouTube and publish them on a regular schedule (say once per week), then you will find an audience clambering for your content. This will be a lot less competitive than trying to compete by just using a blog. You will then be able to monetise this by upselling products or other pieces of content. If you ensure that people supply an email address to access your website, then this will create a great marketing resource that you will be able to sell in the future.
The sale of dash cams is another market area that is expanding and is quite viral. The possibility of entertainment combined with the practical effects of having a dashcam has seen an explosion of products.
The market for dash cams in the UK rose by around 918 per cent as a direct result of Russian dashcam videos on YouTube. Many courts and insurance companies are now accepting dashcam footage as evidence when it comes to accidents with some insurance companies even offering reduced premiums to drivers who use dash cams.
You can build up business quite quickly by sourcing some cheap products and advertising the benefits of using them to your audience. You can repost other people’s viral dashcam videos if you obtain permission from the owner of the video first. You can get instant traffic from people who search for ‘funny dashcam footage’, which can only increase your sales!
Home Security Systems
With the increasing amount of tech and gadgets in people’s homes, improving home security is one area that people want as well. Devices like home security cameras and smart doorbells all mean that people can keep their homes safer than ever and provide more evidence to the authorities if there ever is a problem.
‘Home security camera’ is a web search term that is rising in popularity, and one that you should tap into for high returns. This, coupled with the reduction in the cost of home systems, along with the ease at which customers can install them, means that this a market that you can get into quickly. Getting a system up and running, and above all, secure from outsiders is essential and this is an area that several ‘self-installers’ are still in ignorance about. Use this ignorance to your advantage when it comes to building your brand and making sure that you have a market for your products and services.
Money spinning ideas are not always easy to find. In this article, I have analysed business trends that are emerging and set to grow even more abundant in 2020. I have included, of course, only a limited selection, and there are no doubt other ideas that could be equally as big or even bigger. These will still require a consistent business plan and some good old-fashioned hard work to make sure that they can reach the potential that they could.
The use of social media platforms such as Twitter, Instagram and Facebook are essential when it comes to new businesses, and getting in with the youthful zeitgeist can make or break any potential company.
Therefore, make sure that you understand how to work your social media, design blogs, websites and make posts before you start your business. If you can follow these steps carefully, you should be able to build it organically over time. This initiative will also allow you to respond quickly to any new developments in the market or any new trends that emerge as time goes on. With the right idea, you could be the next Elon Musk.