Many people these days, seem to be interested in seeking business opportunities rather than end up in a 9-5 job. Although businesses involve risk-taking, it does offer immense opportunities to enjoy. With some research, you can come across those businesses that are in huge demand across the globe. But you need to understand them in detail. Hence, check out the customer base and market competition to find out if the idea is feasible or not.
List of business opportunities
1. Digital marketing:
The current business mantra is eCommerce, which is a cost-effective business. Your role involves helping other businesses to develop their online reputation and run advertisements to increase conversions. It also includes optimization of their website to rank higher in Google and other leading search engines. In 2019, the digital marketing business enjoyed 4.2% growth with estimated global advertisement expenditure in 2020 being $605 billion. The same year saw mobile marketing ad to exceed thirty percent of global ad expenses. This is a wonderful choice if you are into social marketing, email marketing, SEO, web development or content marketing.
2. Amazon Sale Fulfillment:
It is one of the most successful business ideas to adopt in 2021. The FBA program is quite popular as 2+million people across the globe use Amazon to sell their products and services. FBA sellers do not have to bother about marketing, inventory, shipping, packaging, customer experiences, or returns. Rather, all these aspects are taken care of by Amazon. You just need to source your products and then ship the same to Amazon Fulfillment centers. Have patience until your product is live on Amazon’s product listing. On completion of sales, your money is deposited in your bank account.
3. Dropshipping:
You may perhaps be seeking successful business ideas with minimum investment. A dropshipping business is a wonderful idea on Shopify. You don’t have to bother about affiliated overheads, rental, or storage space. This business from 2019-2025, expects an average 28.8% annual CAGR. The last decade saw an increase in revenue by about 7% with profits crossing over $4 billion. As a Dropshipping seller, you can enjoy handsome earnings. You get the opportunity to promote your brand, sell products to interested consumers. There is no need to worry about shipping/packaging.
4. Translation service:
From 2015-2020, this business is expected to witness an annual increase of 1.5%. For multinational companies, it is considered to be a core operational part, to strengthen business ties across the globe. Those multilingual can simply take an online test to earn their certification to start this service. A professional translator in the U.S. earns about $18.15 an hour, hence making it one of the most highly demanded business opportunities. Translation work can be done for industries like educational institutions, medical, legal, market research, gaming, travel, finance and other sectors.
5. Senior care services:
About 83.7 million American populations are expected to touch 65. This aged population will require support to manage household chores, commute, pet care, healthcare or house sitting. Senior care services undoubtedly are among the successful business ideas to adopt. Its demand only seems to increased significantly during and post-pandemic period. Revenue as of 2021 of the healthcare sector from 2014 provides an estimated annual average CAGR of 8%. This is indeed the best time to launch this business and enjoy quick success.
6. Online training, courses & coaching:
By 2025, the online education market is expected to grow by about $325 billion. Post-pandemic, online training and coaching are in huge demand. Universities and schools use digitization to deliver vocational courses, schooling and tutorials.
Getting to know the list of business opportunities will allow you to select something that suits your budget, skills and needs.
