Editor’s note: This article was first published in April 2018. The trends it describes as current, such as the cycling boom, phone repair shops, Instagram, mobile traffic overtaking desktop and Airbnb property management, reflect 2018. The US Bureau of Labor Statistics projection on interpreters comes from its 2012-2022 projections.
For those who want to find profitable businesses, I hope some of the ideas below will be useful. We are going to divide this post into two parts. On the one hand, we set out some business ideas that could be well received and need a low or medium investment; on the other, some businesses that require very little money. They rely more on creativity.
We have written countless articles along these lines, collecting all kinds of ideas, from ways to make money from home and starting a small business from the comfort of your own home to the companies whose demand is expected to grow in the future.
So let’s think of this article as a new “medley” of businesses you could consider, and even innovate within these sectors. In the end, the entrepreneur’s execution and creativity are everything.
These are 22 business ideas that can lead you to success
1. Selling and repairing bicycles has become a good business
Bicycles are in fashion, perhaps because cycling is one of the ways people most often choose to stay fit. In fact, it is a product people are spending outrageous amounts of money on. There are many ways to get started in this market.
- We can look for bicycle manufacturers abroad and create our own brand at a good price. It’s the same old story: find manufacturers in China and sell the bikes in Spain, or wherever you plan to start this business, both in a physical shop and online. You can even sell through dropshipping.
- Find a manufacturer and create an exclusive, distinctive brand that doesn’t compete on price. This route is much more complex, but it can also be more profitable if it works.
- Bicycle repair. Bicycles also need servicing and they also suffer damage and breakdowns, so this service, which had been missing for a long time, has started to make a strong comeback.
2. Gear for cycling enthusiasts
Taking advantage of the boom in this physical activity, cyclists don’t just need bicycles but also the necessary gear: from clothing and footwear to lighting accessories for night riding. We can even see new products appearing practically every day, from a helmet with indicators to show drivers which way you are turning to solar clothing that charges your phone.
And of course, how can I sell all these products when a company has already invented them? I imagine you are asking yourself that question. Well, you can become an exclusive distributor of these products or, as we have been discussing a lot lately as a low-risk way to start a business, find manufacturers who have made something similar (they don’t usually take long to do so), reach an agreement with them, buy cheap and sell at a higher price.
This will take a lot of legwork, a lot of phone calls and probably a small investment to request product samples from manufacturers until you find exactly the product you were looking for in terms of quality and price.
More profitable business ideas that are very easy to start and need hardly any investment
3. Cleaning services
This business can be approached in many directions: private clients, companies, an hourly rate or a monthly fee for several contracted days and hours, which could allow us to hire staff by the hour or on the payroll as our number of clients grows.
Perhaps you could focus your cleaning company on a sector that is not given much attention for now, at least in Spain. I mean offering your cleaning services to bars, cafés and restaurants. It is a matter of selling the idea well to hospitality businesses, highlighting the advantages of outsourcing this service.
Bear in mind that many restaurants, above all, end up making their staff work more hours than they should. Some of these restaurants pay their staff overtime, while others don’t even do that, burning their staff out.
If you also offer an out-of-hours cleaning service, you can focus on office clients. In short, you can give free rein to your creativity to innovate in this sector and even offer services never offered before.
The good thing about this business is that the investment in advertising can be minimal. To begin with, you look for clients on the street, and word of mouth usually works very well. And as if that weren’t enough, today you can make your services known through social media. I’ll say it again: for both private and business clients.
4. Repairing mobile phones, computers and electronic devices
All together, or specialising in repairing just one type of device. You choose which direction to take this business.
With the current price of smartphones, the number of shops repairing these devices has shot up, although honestly, I don’t think the profitability of this business lies in the repairs (though that too), but in everything else they can sell you in the shop, including phones and accessories. At least from what I have seen in some shops, the ones with the longest queues had them precisely because of what they sold, not so much because of what they repaired.
Since this business works best as a physical shop, we can also sell certain products on the internet through an online store, which will also help us advertise the shop.
If we also include repairing computers and other electronic devices, large or small, we would have more customers and more money, plus the possibility of selling all kinds of products.
5. Teaching people how to use software
If you are good at using a program, such as video, audio or photo editing software… I promise you, I personally wouldn’t have minded paying a reasonable amount to learn these things much faster and save myself all those hours of learning.
In other words, I would have welcomed a shortcut. And that is how to sell this kind of product: you offer your knowledge in what you are good at, which can undoubtedly be a great help to others who want to learn.
You can teach individuals, charging your hourly rate, or groups, bringing a group of people together and charging a weekly or monthly fee.
So… which program do you use brilliantly, and which do you think many people today are taking longer than necessary to learn, when you could make it easier for them?
6. Home energy adviser
Today, at least in Spain, saying “energy adviser” can be confusing and make people think of the young people who knock on our door asking for our utility bill to try to get us to switch supplier.
A real energy adviser, who usually has expertise in this area, impartially assesses a home’s energy situation, reviews the supply you have at home and where you could save money over the year. Of course, this adviser can go further and offer to install certain services or even sell some appliances. And why not? They could offer you a heating or air-conditioning system and earn a commission by working with companies that do this.
But above all, this professional will work for the client and help them save money on electricity or other utilities.
7. Import/export expert
As you will have noticed, we mention the idea of importing a product to sell in our own country more and more often. At the same time, many companies are eager to sell their products all over the world, or to certain countries.
If you have experience importing and exporting products and think you could advise companies on the steps needed to do it, there is no doubt that today companies starting out run into many doubts, legal obstacles or gaps in their knowledge. So in this market you could find a very attractive niche.
8. Low-cost interior decorator
The truth is that today you can decorate a home Hollywood-style for very little money, since there are very attractive and at the same time very cheap materials. What you need is good taste. If design and decoration are your thing, you can offer your services both to individuals and to building contractors.
Of course, we can also aim this business at customers with more purchasing power. It is a profession with a lot of scope, many possibilities, and room to give free rein to all your creativity and flair.
9. Jewellery making
There are many types of material you can work with in this sector, and many ways to get into the business. Metal will probably require the most tools to work with.
However, jewellery made from glass, plastic or wood is booming today. It goes without saying that if we do good work, something original and distinctive, it shouldn’t be too hard to sell it online, where social media would take care of promoting your work if it is good.
10. Teaching technology to older people
If you can turn technical knowledge into simplicity of use, older people could benefit greatly from new technologies, and keep their brains active by learning something new along the way.
I think if some elderly people discovered how to use Tinder or similar apps, they would be even more entertained 🙂
The point is that technology is complicating life for many older people, and it could be a good idea to try to make things easier for them by sharing our knowledge.
11. Errand company
We could approach this business idea as a salaried professional or as a company offering these services to residential communities. In fact, it is already spreading.
The idea is to offer our services to residents’ associations or housing developments and make ourselves available to every client in the community. That means collecting a suit from the dry cleaner’s for the neighbour in 5A, watering the plants of the neighbour in 3B who won’t be back for 3 days, picking up a parcel for another neighbour, and so on.
As I always say, you can add your own added value to all this. You won’t be a concierge as such, or maybe you will, you could be that too. Thinking bigger, a company offering this service to residential communities could catch on if the idea is pitched well.
12. Property management
This idea can be attractive today, with the boom in ways some owners are making money thanks to services such as Airbnb.
That said, we could focus on rental properties or communities of rented homes, where we would make sure everything is in order and, if the alarm goes off in an empty flat, you would be the person they call.
In this business you could also be in charge of preparing and cleaning a home once it is vacated.
Consider this possibility. If a client lives in Andalusia and has an empty flat in Madrid, and wants to make money renting it to Airbnb users, you could be the one managing the comings and goings of guests, making sure the flat is ready for the next one.
13. Upholstery
If you are handy with a needle, upholstery repair could be an ideal business for you. If you don’t have much experience, learning to upholster shouldn’t be too difficult. One of the best ways to learn is to get hold of some discarded upholstered furniture and start practising on it.
You can also learn for free on YouTube from videos that explain how to upholster.
Often, many pieces of furniture that need reupholstering also need repairs, so we can offer both services and even subcontract staff who specialise in one or the other.
14. Gift basket service
This idea can be approached in many ways. It can even help us sell products we make ourselves, such as scented candles or homemade soaps. Ideally, focus on a niche: baskets for sports lovers, for animal lovers, or for people who like to look after their appearance.
Ask yourself what you would like to receive as a gift if you were a lover of… and make that basket with the products you would like to find. Christmas is a good time to start this business.
15. Home beauty services (hairstylist)
This figure, known in the United States as a hairstylist, has become a very popular business, especially among the upper middle class.
In short, it is a beauty professional who comes to your home, whether for beauty treatments, haircuts or face masks in the privacy of the client’s home.
Many people would rather have their face green or purple for an hour at home, where they can get other productive things done at the same time.
This business would undoubtedly suit someone who already has years of experience working in beauty salons or hairdressers, mainly because building a client base for this service would be much easier. But we insist: if your service is good and you put professionalism first, you won’t find it hard to make yourself known online.
Some business ideas with a lot of potential and almost no investment
As you can see, these business ideas are very easy to carry out, don’t need much money to start and have enormous potential.
16. Instagram consultant is an innovative business idea
I don’t like the name “consultant” for this business idea, so it’s up to each person to find the right one (adviser, expert…), because “community manager” is already very hackneyed, and that’s honestly not what I mean.
Although Instagram keeps growing in popularity and there are many success stories where this social network has multiplied sales exponentially, the truth is that very few companies know how to use it properly.
Without looking any further, people who have had an Instagram account for 4 years (yours truly, for example) barely gain any followers (not that I’ve been very active, mind you), while other people manage to create accounts that reach hundreds of thousands of followers in just a few months. There is clearly a trick to it, and brands want to know that trick.
For example: This couple earns six figures a month thanks to Instagram
I don’t know exactly what it takes to be considered an Instagram expert and sell your services to people and companies, but I imagine it has something to do with advanced knowledge of social media and marketing and a passion for photography. Focusing on this app can be an excellent way to make money or to start a very profitable business around it.
17. Subscription services have proved to be very profitable businesses
There are many ways to approach this business. In fact, we have already looked at several companies that have built up a large number of subscribers with this kind of subscription service, including shirts for executives (customers receive shirts every month plus a surprise), healthcare products, cosmetics and so on.
At the moment, subscription services are also appearing in the food sector and even in pet products, where every month customers receive a selection of products at home based on their interests, for an amount that can be paid monthly or annually.
And the most striking thing about this business is that the contents of the box are a surprise: the company chooses which products to send, and often includes a little extra.
A tip for entrepreneurs who want to get into this market: either aim at VIP customers or make it as cheap as possible, but don’t get stuck in the middle on price.
18. Mobile consultant
Very similar to what we described in point 16 with Instagram. Today, if we look at the statistics showing which devices users visit us from, we will clearly see that visits from smartphones overtook those from PCs some time ago.
Very soon, when we design a website, we will have to think almost exclusively about mobile. And this is where the business opportunity lies for entrepreneurs who want to help companies face this challenge, since they will need to watch the user experience when someone visits a website on their phone, how easy it is to buy and, in short, the call to action that drives sales.
The good thing about this business is that you won’t need to do much to convince the client. They know the change is happening and that the trend is mobile.
19. Translation services
The global market and international business are growing, and although many people don’t believe it, there is great demand for translators today. According to the US Bureau of Labor Statistics, hiring of interpreters and translators is expected to grow by nearly 50% by 2022, one of the highest rates compared with the average for other jobs.
(See: 10 jobs and businesses that will be booming in 2020)
20. Healthy vending machines
Today we can find vending machines for everything, which now even sell burgers, intimate devices and even used panties (yes, seriously), and even a giant car vending machine.
But if we focus on the simplest kind of vending business (food), realistically, fast food is in fashion, but we are more and more aware of the need to look after ourselves. Everywhere you go you can find vending machines selling soft drinks, sweets and crisps.
But… what if we focused our business on healthier vending? This idea occurred to the company Fresh Healthy Vending, regarded as the number 1 company in healthy vending, which has managed to build a large network of distributors and franchisees. There’s a business idea for you.
21. Removals service
Clearly, most people prefer others to do the heavy lifting for them. Although some think this sector is already dominated by giant companies, the truth is that any small entrepreneur can carve out a niche in this business. And by the way, the risk can be minimal, since you could even start with a rented van or a 6-month lease while you test whether the business is profitable.
What you will have to choose is whether you want to do only local moves or long-distance ones too, as well as what other services you could offer in this sector.
22. Selling Christmas trees
Although most buyers today prefer plastic trees, the truth is that some customers prefer real ones. But this business isn’t simple: it is said that a fir tree takes a number of years to reach the ideal size, so the business of growing your own trees and letting customers come and pick the one they want (as we see in films) might not be so profitable in Spain, for example.
On the other hand, buying the trees from a wholesaler and selling them to end customers could be a great idea. And always thinking of something innovative that sets you apart from the competition.
(See: How this 25-year-old mother makes money using Facebook)
And now we could carry on listing other business ideas that tend to be more typical, such as:
- Photographer: both for individuals and businesses, as well as for the contacts section in your city, since those advertisers need good portfolios (they live off their image).
- Carpet cleaning: I don’t know if you’ve seen on television how much dirt builds up in carpets when the owner thinks they’ve cleaned them properly. I imagine experts in this are needed.
- Massage therapist: I know you’ll think there are lots of massage therapists and that most of them complain there isn’t much work, but the truth is that many people have studied a bit of massage, while few massage therapists have the talent to make you say: “Wow!! What a great massage.” Take it from a massage fanatic and lover (of good massages, of course).
- Video editing: we’ve already talked about this idea, and if you’re good with editing software, you can offer your services for a huge range of things, from companies to filming a wedding and editing it as if it were a film.
And no, today we’re not going to walk dogs or look after the neighbour’s cats. We’re not even going to bake cakes at home to sell to the neighbours, or make homemade baby food, even though one woman went on to turn over millions with that idea. We’ll leave it here for today.
Featured image: John Englart, CC BY-SA 2.0, via Flickr.
