Editor’s note: This article was first published in October 2017, and was later updated for 2021. Its figures and references are older, including comScore mobile shopping data from 2013-2016, BirchBox’s subscriber count and Shoes of Prey, which went into administration around 2019-2020.
This time we’ve taken the opportunity to update our list of business ideas, making it as complete as possible and, as always, with realistic ideas that, with good execution, innovation and originality, could be very profitable in 2021. Some of these businesses can be started with no investment, while others need a little money. There’s something for every budget.
We’re also going to look at some widespread concerns in society where there’s probably room to innovate on the solution, since solutions to common problems are sometimes where we find the best businesses. I hope you like them and that they inspire you on your entrepreneurial journey.
And yes, I know, these aren’t “innovative” ideas along the lines of “hardware store… people buy lots of screws” or “dog walking, you can become a millionaire feeding your neighbour’s cat”. Let’s say we’re taking a more serious approach here, and some readers may find a few of these ventures somewhat complicated, but we prefer more original business ideas than all that.
And if you live in a small town or village, we’ve also put together 17 profitable businesses to set up in a village.
Remember that each person’s creativity can make a lack of money a non-issue.
Let’s start with some business ideas that are already profitable in 2021
Business is growing on mobile and social media
This trend is unstoppable, and now more than ever a business not only needs to be online but also needs a strong presence on mobile, social networks and all kinds of social channels, so online marketing will become one of the businesses with the biggest growth in turnover in the coming years.
According to comScore data, consumers spend 60% of their time interacting with online retailers on mobile devices, a figure that grew by 98% between 2013 and 2016.
Put more simply, consumers now shop from their phones, and a large percentage of them were drawn to a particular purchase by advertising on social media.
(See: 11 apps for making money with your phone)
Facebook as a potential market
Gone are the days when consumers called a customer service number. Brands now resolve users’ complaints on Facebook. In fact, Facebook is the bullseye companies aim at to sell their products. This brings us to the first sector that will be looking for specialised professionals and companies in 2021…
1. Creative and audiovisual content
It doesn’t matter how big or small your company is; what matters is how professional users perceive it to be. To produce advertising campaigns and ads, brands need professionals and companies working in this growing sector.
As spending on advertising strategies rises, more money will go to professionals with creative talent and knowledge of online marketing, as well as to audiovisual content experts, since video is proving far more effective at winning over consumers than traditional ads. That’s why we’ve included video editing among the most attractive business ideas from 2021 onwards.
2. Professional cuddling
A highly technological age may have left people starved of affection, so there are people who would literally pay for a cuddling session.
Just ask Samantha Hess, who created a profession for herself, or rather a business bringing in more than €6,000 a month, offering cuddling sessions. The service might seem silly, but Samantha’s job is to make people feel comfortable, pampered and loved just as they are. This business idea successfully made the leap from the United States to other countries.
3. Renting baby items
The money we spend on baby clothes can be a big financial sacrifice for many families, given that at that age children grow very fast and outgrow their clothes in no time. There are already some companies that, for a monthly or annual fee, cover a baby’s clothing needs as they grow; the clothes are rented and later passed on to other parents. It’s a matter of working out how to make this business idea profitable.
4. The world of drones
A huge industry has opened up around drones, so it’s a matter of thinking about how an entrepreneur can benefit from it. Two business ideas spring to mind:
- Drone flying courses: Teaching how a drone works and covering the basic or advanced concepts can save a user many days of trial and error. I’m sure it wouldn’t be too hard to find customers for this idea as long as prices are reasonable and the service is useful.
- Drone parts, repairs and spares: Whether in a small physical shop or online, becoming the place where drone users can get parts for any brand and have their drones repaired could be very profitable.
5. Breakfast delivery to homes or businesses
Plenty of companies deliver food to people’s homes, including pizzas and burgers, but very few offer breakfasts in a similar way. And certainly few deliver breakfasts to businesses.
Think how useful this idea would be when a company holds a meeting and can receive a full breakfast instead of having to leave the building to eat. It’s a matter of seeing whether there’s a niche for this business in your city.
6. Affiliate marketing
Media outlets and even celebrities now earn a significant part of their income from affiliate marketing, that is, recommending a product or service and having people buy it through the links provided.
From electronics and technology to clothing, big brands and online shopping platforms agree that most of their sales come from affiliate links. In other words, affiliate marketing now drives the largest share of e-commerce orders, at least on the big platforms and brands, while direct traffic has fallen.
For media outlets, affiliate programmes have become an important source of income for their survival, given how volatile digital advertising prices are.
On the one hand, users with large social media followings, bloggers and models will find it very easy to earn income from affiliate products.
On the other hand, any business could take advantage of this trend, because, realistically, if your product is good and someone needs a reason to recommend it, being able to earn some extra money by recommending it solves the equation. And it’s profitable for the business.
See also: 38 ways to make extra money from home
7. Subscription clothing… and beyond
This is one of those business ideas that various entrepreneurs have already applied successfully. One of the pioneers was the founder of HallMadden, who designed a service for executives in which, for an annual fee (or monthly instalments), subscribers receive three dress shirts every month plus the occasional gift, such as cufflinks or a tie.
The subscription model has also appeared in cosmetics companies, where for a monthly fee customers receive their favourite beauty products every month. In this last case, BirchBox has more than 400,000 subscribers, so they’ve managed to build a million-dollar business. Where else do you think you could apply a subscription service?
8. Healthy food businesses to compete with the big chains
When we think of fast food, McDonald’s and the like spring to mind straight away, but outlets with a similar system are already opening, with the difference that they serve only healthy food.
You can find fast-food outlets focused on salads, others serving only vegetarian food, and so on.
9. Bullying
There’s a lot of talk about bullying, but few people act in line with the dire consequences a child may suffer later in life after experiencing it first-hand. A lot can be done to ease this situation, which keeps growing in schools, and if official bodies don’t do it, they leave the way open for entrepreneurs with ideas for solutions.
10. Anti-squatter companies
Today there are people who feel entitled to occupy any property. And there are families going through hell because they can’t evict the squatters. The first companies have already appeared that negotiate between owners and squatters, all within the law. Let’s say they’re negotiators who’ll do everything possible to help the owner get the property back.
11. Tattoos and tattoo removal
For needle artists, a small or large tattoo studio doesn’t require much investment, and the business is proving very profitable because getting a tattoo is very fashionable. On the flip side, tattoo removal is also an industry that’s starting to emerge profitably, and everything suggests it will keep growing over time.
12. Hybrid beauty businesses
Hybrid businesses are an excellent idea and a great option. In the beauty field they’re an even better idea, because in a small space you can offer hairdressing, nails and tattoos. That way, good service in one area can lead the customer to use all the services your studio offers. You can also add laser hair removal to the hybrid business. That said, laser hair removal businesses and franchises on their own are proving profitable.
13. Custom women’s shoes
Custom trainers have proved a very profitable business, but we were forgetting about women’s shoes. Some companies, like Shoes of Prey, let women order exactly the shoe design they want, so they can be sure their friend won’t turn up to a party in the same shoes.
14. Hybrids of art, bar, restaurant…
A business that tends to work in many corners of the world is promoting local artists and bringing artists and customers together in a bar or similar venue. Local artists (painters, sculptors, craftspeople…) could sell their work there, and on top of the commission you agree on, you’d earn from customers’ food and drink. Everyone wins.
15. Weight loss and martial arts
Some time ago we talked about the business idea of military-style weight loss camps, literally a camp where you stay for a week or two and undergo tough training to adopt healthy habits, including exercise and diet. Starting this business might require more investment and preparation time, but there’s no doubt the weight loss industry moves billions every year, and not always in a healthy way.
Nowadays many people know how important it is to learn to defend themselves, so if in our business (which stops short of being a gym) we teach people self-defence while also getting them fit and instilling all kinds of healthy eating habits, it will undoubtedly be a well-received idea.
16. Pet-focused business ideas
The number of people with pets has grown, and it’s a market worth billions a year. We’ve already shared some pet-related business ideas in a previous article, but basically there’s business in services and products such as:
- Pet insurance companies.
- Pet training.
- GPS devices for pets.
- Healthy pet food.
- Pet toys.
- Pet clothing.
17. Anti-kidnapping systems
We’re witnessing countless cases of disappearances and kidnappings in practically every country (more in some than others), and the first few hours are key to limiting the damage. The best approach is prevention, and so far very few companies are fully devoted to providing a service, advice and tools for peace of mind. There’s a business here, and one of those businesses where the service you offer saves lives.
What could be offered to ensure safety in these cases?
For children, there should be no problem today designing and selling a device hidden somewhere in their clothing, a pendant, earrings or a hair bow, so that if the child leaves a set area, an alarm goes off on our phone. GPS tracking with the child’s location would do the rest.
Likewise for adults, a system that lets us trigger a device with a distress signal and immediately activate geolocation. By device I mean a ring, a bracelet or something that goes unnoticed. It’s a matter of coming up with the most attractive idea.
18. Healthy food and healthy fast food
The trend towards different diets keeps growing, with more and more restaurants specialising in vegetarian and vegan food. We can copy the systems used by fast-food chains and even deliver healthy food to people’s homes the way pizzerias do.
We’ve already looked at four healthy fast-food business ideas with systems very similar to McDonald’s. In fact, one of the healthy fast-food franchises we mentioned already had more than 300 outlets, so as concern about eating habits grows, these businesses will multiply too.
These business ideas do require more investment
19. New kinds of housing
From underground houses to homes built from shipping containers, the housing sector is also innovating to make prices more affordable. Of course, not every country gives you the same freedom to build this kind of home.
At the same time, investment in smart homes is starting to grow, so selling all kinds of devices that connect practically any function of the home to your phone is also a good business idea. Home automation, robotics and mobile apps are sectors closely tied to housing, as is everything related to home energy efficiency. From 2017 we’ll see a big increase, and by 2020 we’ll probably start to see a boom in this sector.
20. Advanced security systems
We’re not talking about the typical alarm. Home insecurity in many countries, including Spain, is such that even panic rooms were in high demand. Building security in from the start of construction is ideal, but we could also talk about installing other kinds of security systems used in the United States by the wealthiest people.
These include systems whose legality you’d need to check under the laws of the country in question. We covered this in a previous article on unusual security systems of the rich.
21. Electronic device repair
We’re starting to see more repair shops opening for smartphones, PCs, tablets and video cameras, as well as shops selling all kinds of accessories. Consumers now spend even more than they can afford to keep up with the latest technology. And this leaves a very attractive niche for small and medium-sized entrepreneurs.
22. More than a cinema
Imagine a cinema where you could eat while watching a film. The owner would profit twice over. Or imagine a cinema that shows old films rather than new releases. Or a cultural cinema where, after the film, someone gives a talk about the story it’s based on. All the ideas I’ve mentioned already exist and work. It’s a matter of seeing whether they’d work in your city.
23. The relaxation business
People are aware of the stress in their lives and, increasingly, of the need to manage it. That’s why yoga and meditation are gaining importance these days. They’re also businesses you can start with very little investment. And if you add extra value or take a hybrid approach, you could stand out.
24. Publishing services
Today, self-publishing your own book is easier than ever. Of course, some writers lose their way and run into all kinds of obstacles out of ignorance. You can self-publish your books digitally on Amazon, and you can also self-publish in print on demand.
A person or company that helps with the whole process, including proofreading, cover design and advice on the paperwork, would certainly be very useful for people who want to focus on what they do best: writing.
25. Hospitality: themed pubs and restaurants, and hybrid shops
Remember when we published the nine most original restaurants in the world? At least in Spain, one of the countries with the most bars and restaurants in the world, making your business stand out is a must. Any idea will do: tapping into people’s interest in stand-up comedy at a club or in a restaurant while people eat, or live performances.
We can also stand out with themed pubs, creating an Egyptian atmosphere or making the place look like a saloon from the Wild West. Any idea is valid.
And finally, hybrid shops, where a bar can be both a bar and a souvenir shop, perhaps with a clothing section next to it. Remember that hybrid retail naturally moves customers from one service to another.
26. And here’s my contribution: an educational restaurant
We’ve said people like to have fun and go to restaurants to see live performances or stand-up comedy, but why not a restaurant where, instead of a comedy routine, you get a talk on financial education, investing or personal development? Do you think it would be a good business idea?
See also: 18 business ideas with no investment
The art of inventing professions
Some time ago we talked about the art of inventing a profession, which can be a very clever way to make money or build a lucrative business around it. To take one example, community manager was a profession that didn’t really exist 15 years ago. Now you can’t throw a stone without hitting 500 of these “professionals”.
Here are three professions that are profitable in some countries.
27. Firearms instructor
You heard right. Searches for firearms instructors have skyrocketed in some countries, from people who just want to learn to shoot to people who want to become instructors themselves. These instructors usually work privately or have agreements with shooting ranges to offer their services.
28. Paranormal investigator
Think you have a ghost at home? You’re not the only one, judging by the huge number of people looking for paranormal investigators. I don’t know exactly what it takes to become a paranormal investigator, although I imagine that in 99% of cases the evil presence won’t be one at all and there’ll be a more logical explanation.
And the remaining 1%? Well, that would give us plenty of scope for new professions: ghost psychologist, ghost negotiator and so on… OK, this part is a joke 😊
29. Trainer of doves and other animals for special occasions
If you’ve ever dreamed of having doves at your wedding, there are already companies that train them to appear and add that romantic touch. Training dogs and even cats to carry the ring to the altar is also possible. It can even be done with a falcon. It’s a business, although the niche is very limited unless you can use creativity to expand it in other ways.
30. Any business idea with a home service
One way to add value is to offer our service at the customer’s home. In a previous article we looked at the idea of a mobile beauty clinic, which, like mobile restaurants, carried everything needed for face masks, nails, eyebrows and so on in the back of a van. So if you offer beauty, hairdressing or even home-cooked food services at people’s homes, it can make all the difference.
Featured image: BLM Oregon & Washington, Public domain, via Wikimedia Commons.
.jpg){kind=link}