What if I tell you, creating a bed bug barrier can help you make millions of dollars? And, being a hangover helper can keep you profitably busy as long as you wish to be. Yes, there are plenty of profitable businesses that we hardly pay attention to, even though they exist.
Interestingly, many are even making a fortune out of these (businesses).
The business ideas suggested above may look weird but trust me they are highly profitable. Well, I have not included these in this article, as you may find plenty of business ideas that you can initiate to earn a profit. I am to suggest something different which can be highly professional and profitable too.
So, let’s explore and choose what best suits your business ethics.
#1. Merch by Amazon
If you have inspiring creative skills and believe that it can touch people’s hearts, then Amazon has something great to offer. The platform offers to sell your creativity and excellent product ideas to people without throwing any upfront investment cost upon you.
All you need to do is to draft, paint, or create your ideas on a piece of paper or canvas along with its description and prices. Then, upload it to Merch by Amazon.
Now, if customers on the Amazon eCommerce platform like your products and send a purchase request for the products, Amazon will produce that product on your behalf. And, you know it will send you the profits. That’s a fantastic idea to start your own business without requiring any upfront investment. The business is highly profitable, but it is lesser-known, which is evident with the Google Search Trends.
The images given below show the search interest worldwide as of Oct 25, 2020. Let’s take a look at it.
The other image in this graph shows search interest based on region as of Oct 25, 2020.
If you are interested in this business, you need to do the following things to get started;
- Create the artwork
- Select the product type
- Choose color or your product
- Create a page on Amazon
- Create excellent marketing strategies
- Market your artwork across social networking sites
- Write blogs, inform readers about products
#2. Network marketing
Did you know the direct selling market reported $192bn in 2018 from $184bn in 2015? However, the sale dropped to $180.5bn in 2019 (that was due to the on-going health crisis —COVID-19).
However, from the U.S market perspective, it does seem to be affected any more. Take a look at a finding by Statista that shows direct selling retail sales from 2011 to 2019.
If you are looking for a business that needs no upfront investment, then Network marketing, aka direct selling or MLM (Multi-Level Marketing), is an excellent choice to start with. All you need to take into account is that the product you tie-up should be reliable and popular. Besides, you must have excellent communication skills with good business ethics.
It’s an opportunity for almost every business aspirant looking to start their own startups, with less investment. More than that, it’s a great way to become an independent seller and earn good profits. However, you need to follow the right business ethics.
Be confident, follow the right business model, and avoid forming the unsustainable business model, “pyramid schemes.” The graph given above will help you understand how profitable the business can be.
The success in this business lies beneath the communication skill set. Persuasive communication is the name of the game.
Network marketing requires;
- Collaboration with famous brands
- Effective communication skills
- Follow the right business etiquette
- Select the product that solves people’s problem
- Connect people who are excellent communicators
#3. Cloud kitchen
If cooking is your passion, then starting a cloud kitchen can be the best low investment business. Cloud kitchen has been the most profitable business since its inception in 2003 in India. Now, the concept has been adopted by most other countries.
The basic concept of cloud kitchen business is the same as restaurants having an online presence. Users can order food using third party food aggregator apps or the app provided by the restaurants. However, it does not offer dine-in facilities.
Cloud kitchen is a lesser-known business, but it is a massive $43.1billion market and is expected to reach $71.4billion by 2027 with a 12% CAGR, as per the 2019 report. So, your love to serve others will turn this initiative into the most profitable one.
Cloud kitchen, aka ghost kitchen, shadow kitchen, virtual kitchen, or dark kitchen is profitable but not widely known among startups. The image given below can help you see the search interest of this business. Let’s take a look at it.
This business’s success lies behind the business strategies you create. .
To start this business;
- Gather people with similar interests
- Select the type of cloud kitchen service
- Develop an app and website
- You may need $2000 to $3000 upfront cost
- Market your business
- Start small to avoid pressures
- Hire a few but experienced staff
- Select the right location to serve
- Start with a nearby area only
#4. Start a Dump Truck Business
Did you know when the entire world was stalled, only a few businesses like grocery shops, medical shops, dairy parlors, and dump truck services were operational. The dump truck business falls within the transportation sector and it offers an excellent opportunity for startups looking to start a business with minimal upfront costs.
The business enables you to provide various services, including moving debris from natural disaster sites, transporting garbage to specific areas, hauling materials to and from construction sites, and many other works for construction and manufacturing companies.
Typically, the business may cost you around $20,000 to $40,000 (if you buy a used truck), and you can earn anywhere between $40,000 – $197,000 monthly.
The dump truck market generated $19 billion in revenue in 2019 in the U.S with a 1.8% annual CAGR. However, the global dump truck market size was valued at $39.97 billion in 2018 with an 8.6% yearly CAGR, while it is estimated to reach USD 48.7 billion in 2020, similar CAGR.
It’s simple to start, yet a highly profitable business for startups. All you need to do is explore how to start a dump truck business (if you have a broader vision) or buy a dump truck, earn driving experience, grab a driving license, make contacts, and get started. If you have a budget issue, you can buy a used truck to initiate. Once your business starts earning, you can consider replacing it with the new one or adding the next vehicle in the fleet.
Things you need to do before starting a dump truck business;
- Choose location
- Select dump truck business type
- Grab driving and business license
- Buy a one or a few dump trucks
- Make contacts with construction companies
- Start earning
- Choose the location where you can find lots of construction manufacturing companies
- Digitize your dump truck business if you wish to expand your business
- Create a dump truck business app to receive order online
#5. Online Dating Consultant
Did you know, 32 million Americans use dating sites? A survey from Statista reported that while 30.4 million U.S. users used online dating services in 2019, more than 35 million people are expected to use the service by 2024.
Well, I am not asking you to start a dating site and take a direct flight with Tinder or Match.com. But, what if you become a dating consultant? You may not have as many competitors as you may have to face in creating and managing an online dating site.
Besides, people are looking for reliable resources where they can find proper solutions to their problems. That’s not possible with online dating sites. Yes, if you are providing a telephonic dating consultant service or online dating consultant service, it can make sense.
In short, if you are a master in connecting two love birds, this is the business for you. All you need to do is to create a website, promote your services, and get started.
Things to do to become a successful dating consultant;
- Create a website
- Write about dating tips
- Ask readers to connect for consultation
- Choose the right method of consultation
- Start providing consulting services to your relatives
- Promote your services using social media
- Be helpful, don’t be salesy
#6. Start Concierge Service
Concierge service is similar to the hangover helper, which I mentioned earlier in the introductory paragraph. Both deal with similar things like assisting guests or homeowners by helping them in their daily tasks and doing their errands. One of the best parts of this business is it doesn’t bang on your bank.
The Concierge service market was valued at $3 billion in 2019, while another survey by Grand View Research estimated USD 537.6 million in 2018.
Most importantly, it has more individual clients than corporate clients. That means you will have two groups of customers in this business:
- Corporate/company customers
- Individual customers
You may have significant opportunities when you provide concierge services to individual customers. Here’s the finding by Bplans.
For corporations, you may have to connect with companies looking for concierge services for their employees.
For individual clients, you may have to promote yourself and your business through digital platforms so that individual customers can contact you when they need the service.
Things to do before starting concierge services;
- Gather like-minded people
- Name your business
- Connect with companies/corporate offices
- Create a team, assign the area
- Start serving
- Create a website and profile across social media channels
- Connect with hotels and corporate offices
When it comes to starting a business, you may find plenty of ideas, though the crucial points to consider are whether you are interested in the suggested business or not. Ultimately, “passion inspires success” and you zest to achieve success will play a significant role. You must have expertise and skills in the business you wish to start. We would recommend getting some experience in the field of business that you wish to initiate. However, if you are financially equipped, you can hire expertise and create a robust team to make it possible. However, it may not work in every business, especially the business ideas we have suggested here.