Editor’s note: This article was first published in August 2014. The post is dated 2014 but its title and intro were later updated to 2016-2017, and the whole list reflects the market of those years. Claims such as the boom in US smartphone repair shops and almost more smartphones than people describe the situation at the time.
There are still many solutions to be provided in a fast-moving, ever-changing, highly technological industry, where we probably haven’t yet seen even 30% of the most immediate advances. Although it may feel as if everything has already been invented by 2017, the truth is that you can still start a business and build a company that offers hundreds of solutions to large corporations as well as to small business owners and end users. Below are 20 business ideas that can be very profitable.
1. Call centers focused on small businesses.
Call centers have always been geared toward large companies and have been hard for small business owners or the self-employed to access. As call centers have visibly declined, some US companies are now focusing on meeting the needs of small businesses and freelancers, because having this kind of service at an affordable price really could increase sales and give you a more professional image. It’s a matter of analyzing the project and its profitability.
2. Software training companies.
Sales of software that makes professionals’ lives easier are also on the rise, but many companies adopt new software and their employees take a long time to learn to use it properly or get everything they could out of it. Although all software comes with manuals, these aren’t always very useful, and learning time can be cut if an expert explains it properly to the people who will be using it.
3. Food trucks.
We know that in many countries this idea wouldn’t be entirely feasible because of red tape, but in countries where it is allowed it has proven to be a very profitable business, considering that you can concentrate on a few hours of work a day, especially at weekends in nightlife areas. The good thing about this idea is that a truck fitted out as a mobile restaurant requires far less investment than opening a restaurant.
4. Professional translation and interpreting agencies.
In a globalized commercial world, our company needs to be present in several countries if we want to reach further, so now more than ever a flawless translation of a website or a database is essential. Likewise, in the world of global business we may need an interpreter to close a deal with a foreign client, and we’ll need a seamless one.
5. Employee monitoring services.
More and more companies don’t need their employees to come into the office, because they can work remotely. Although there are already programs that measure employee performance, the truth is that to keep more complete track, many companies find it hard to interpret a whole series of charts and statistics. Other times they don’t have the time, and hiring a dedicated department for this job probably wouldn’t pay off.
6. Mobile beauty services.
In some countries vans have appeared whose interior is a beauty salon offering manicures, pedicures or facials, although you don’t need to go that far. Today there’s a type of customer who has neither the time nor the desire to get in the car and drive to a beauty salon, so there is growing demand for home beauty services, where customers can have their hair styled or dyed in their own home, or get a massage or a manicure. All in their own home. It’s also ideal for people who work from home, who can be good customers for this service.
7. Vending machines.
The vending business keeps growing. In fact, there are now quite a few franchises in this sector. Vending machines today aren’t what they used to be. We can sell practically anything (see: the most original vending machines). From water and soft drinks in buildings and coffee and food in companies to bread and eggs right on the street. Everything. A supermarket open 24 hours a day, 7 days a week.
8. Smartphone repair and secondhand sales.
They say that today there are almost more smartphones than people. And they’re expensive products, both to buy and to repair. Some repairs aren’t covered by carriers’ insurance. Other times the phone breaks after the warranty has expired. That’s why smartphone repair shops have been opening at a rapid pace in the United States. Some also buy old phones to resell them secondhand. It can be a good business.
9. Contractors.
During the crisis, the contracting trade fell drastically, so as the sector recovers, many people will find it hard to find a professional contractor with skilled labor when they decide to fix up their home.
10. Beyond the contractor.
Today, with the rise of the internet of things and energy-efficient homes, I think it’s time to consider becoming the contractor of the future, where in addition to builders and electricians you could include more tech-oriented profiles to work on home automation, mobile apps and alternative energy.
11. Testing businesses.
Apps, e-commerce, websites, software… these days they’re essential for a company to run well. But they don’t always work, so testing services are in high demand today to analyze and test what matters to the business.
12. Business services.
We could include countless services aimed at companies: developing strategic plans based on market and competitor research, drawing up marketing plans, helping with hiring through outsourced human resources departments and, above all, employee training, both in using software and in sales. Even coaching services for both employees and executives. This sector offers excellent business opportunities.
13. Businesses focused on VIP customers.
We can start a company aimed at the top 5% of the population. As we said in a previous article, businesses aimed at the rich are proving to be more profitable, with less competition and higher profit margins. There are also opportunities in the VIP customer services sector, where we laid out all kinds of ideas, such as private chefs for luxury dogs, dating services for VIPs and even personal or virtual assistants, as well as personal shoppers or personal trainers.
14. Security systems for the ultra-rich.
With the growing gap between rich and poor and the arrival of gangs specializing in home invasions, the rich are investing in out-of-the-ordinary security. And we’re not just talking about panic rooms. We’re talking about much more, to the point that some of these security systems are banned in most countries.
15. Child protection.
If there’s a service people would gladly pay for, it would be some invention to prevent a child from being abducted and to stop the child from leaving a defined area, because if a child isn’t found within two or three hours of being abducted, the damage will already be done. That’s why, in a technological age, a product is still waiting to be invented that keeps children safe and makes an abductor’s job harder by alerting the parents or police immediately. Who will invent this device?
16. The bargain market.
We’ve already written about this business opportunity, which meets the needs of people on tight budgets with all kinds of low-cost services across different sectors, and which was featured on the Spanish TV news program Comando Actualidad. You can read about it here.
17. Booming tech trends.
We can take advantage of booming new technology trends, where we might still find a niche for a business. From mobile apps that solve a problem for a company to apps for VIP customers, mobile payments, 3D printers, smart cities and smart homes…
Copy business models from other countries and bring the idea home
We’ve collected a large number of small businesses from other parts of the world, such as Asia, the United States, London and elsewhere:
- 18. From Asia: 6 business ideas
- 19. From the United States: 6 ideas
- 20. From London: 8 ideas
Further reading
- 14 business ideas to start this year
- The 33 profitable businesses of the future and the industries that will create jobs in 2015–2025
- 40 of the most profitable businesses of recent years
Featured image: Kurtkaiser, CC0 1.0, via Wikimedia Commons.
