There are many good businesses to own or to start. However many people still find it difficult to choose a good business. In fact, a recent study that was conducted by an independent institution found out that the main reason why many small businesses fail is because people tend to venture into businesses that they are not passionate about. Although there are many businesses that you can choose start, not all business will suit your personality and ability.
Before you start a business, you need to sit down and analyze why you want to open that particular business, what you want to achieve as well as your passion. Although earning profit is crucial in any bushiness, it should not be the main driving factor when planning to start a business.
Although there are many good businesses to own that you can choose to start, there are some which are more lucrative than others. In this article, we have compiled a list of good businesses to own if you are planning to start one.
1. Online business.
With million of people turning to the internet to search for products and services, there is no doubt that online business is one of the most lucrative businesses today. The good thing about starting an online business that it does not need huge startup capital.
For instance, instead of renting a strategic store in the middle of the town which will cost you thousands of dollars, online business can be operated just at the comfort of your own house. In addition to that they give good return and have low maintenance cost. There are various online businesses that you can choose to start. For instance, you can start an online business of buying and selling products on eBay.
You can also import crafts then sell them on your own website on sites such as etsy. In addition to that, if you are knowledgeable enough, you can start your own blogging site and start writing articles on topics that you are well conversant with and use the blog to make money through affiliate marketing.
2. Home based business.
Although many people usually overlook good businesses to own like a home based business, they is actually one of the best businesses that one could ever think off. The good thing about home based business is that it gives you the flexibility to do your own things at you own pace and convenience. Home based business will not prevent you from doing other important things in your life.
There many home based business that you venture into, however there are some few that are very lucrative because they pay well. Some of the best businesses in this area include working as a virtual assistance and freelance writer. Without thousands of website in need of content to update on their websites, there is no doubt that freelance writing is a good business to venture in.good businesses to own
3. Green business.
Global warming has really taking the world by surprise. The effects of global warming are now being seen. As a result, many companies are now looking for ways to cut down on carbon emission to the environment. Green businesses are now one of the most lucrative businesses on the market because companies as well as people are under immense pressure to cut down on carbon emission. Green businesses are those types of business that produce clean energy such as bio fuels and solar power.
4. Pets sitting business.
Although this many sound awkward to many people, pet sitting business is now one of the most lucrative businesses in the market. Nowadays, there are many people who own pet and the fact is that many of these people don’t have time to take care of their pet the whole day.
Many people who own pets are searching for companies that can help take care of their pets while there are not at home. Harsh economy has forced many people to work for long hours in order to sustain themselves. Just like small kids, pets also need to be taken care of when the owner is not at home.
According to the American pet products association, overall consumer spending in the pet industry grows by about 5% every year with growth in pet health care growing at even greater rate. Some of the business that you can specialize in this industry include mobile grooming, pet siting and service for individuals who want to keep farm animals such as bees and chicken in town.good businesses to own
5. Professional cleaning business
The mushrooming of cleaning companies is a clear indication that cleaning is lucrative business to venture in. Busy working schedule has forced people to seek the services of a professional cleaning companies to take care of their cleaning needs.
There are many types of cleaning services that you can choose to specialize on. They include home cleaning service, commercial cleaning as well as motor vehicle cleaning service. The good thing about cleaning business is that it is in great demand. With good marketing, you will attract a large customer base. In addition to that, it does not require huge start up capital as it is normally the case with other types of businesses.
6. Baby day care.
Nowadays many people prefer taking their kids to a baby day care when compared to hiring a house help. High standards of living has forced many people to dig deep into their pocket in order to sustain themselves.
Taking kid to baby day care is not only safe but it is also cheaper. With increased number of parent taking their kids to baby day care, there is no doubt that you will earn good money from this business. It requires less capital to start and can be done even at the comfort of your own house.
7. Senior care.
Unlike the past, nowadays people are able to live for long because of improved medical heath care services as well as eating the right kind of food. As a result there is increased number of elderly people who are in need of elderly care.
The growth in the number of elderly person has even prompted the University of Southern California to offer a degree in aging service management. You can choose to offer home care services for elderly people or selling real estate to retired people.
Although many people dream of owning their own business, they are unable to determine exactly what business to invest in. Getting that perfect business idea is tough. This is because not all business ideas are a sure thing. You need to take the time to research the various business ideas that have a high chance of succeeding. See below 5 good businesses to own based on current trends in business and demographics
1. Senior care business
Catering to seniors is one of the many good businesses to own. According to the U.S. government census report, millions of Americans were born between1946 and 1964. These people are now retiring or headed for retirement creating a wealth of opportunities for senior –oriented businesses. When starting your senior care business, you should also put into consideration the facts reported by the American Association of Retired Persons(AARP) that stated that at least 90% of seniors prefer leading an independent life.
Most seniors prefer staying in their own homes and communities as opposed to a senior’s home. Therefore, your business should include offering mobile catering, cleaning, pet sitting, landscaping, driving and delivery services. If you are skilled in construction, you should consider a business in home modification to suit the needs of the elderly such as installation of safety flooring, alarms, bathroom aids and much more.
2. Self-storage business
As the young generation accumulates more possessions, baby boomers are downsizing. These factors have contributed to the continued booming of the self-storage business. The self-storage industry has reported a growth of over 50% in just six years with an annual revenue of $33 billion. The self-storage business offers a great business opportunity to most people. If you opt to try out this business, it is advisable that you invest in modern self-storage units with a climate-controlled environment, lighting and sufficient security.
The popularity of microbreweries seems to be increasing by day. Many people enjoy the tasty local craft beer compared to brews from national giants. In 2014, microbreweries contributed $55.7 billion to the U.S economy. The craft beer market in the United States has recorded a growth of $20 billion annually in sales. If you can brew high-quality beer, you should consider turning it into your own craft beer business.
4. Mobile dog grooming business
More and more people are adopting dogs into their homes. So far, more than 50 million households in the U.S. and Canada own a dog or two. This has led to the increase in demand for pet grooming services. Most people are not able to take their dogs to a commercial grooming location such due to their hectic schedule. In addition, most pet owners feel that their dogs are more relaxed when getting their grooming in its home environment. However, to start this business, you will require a professional certification in dog grooming to help boost your business’s chances of thriving. If you are a dog person and are looking for a business opportunity, why not delve into the dog grooming business?
5. Gluten-free products
There has been a steady growth in the sale of gluten-free foods with over 34% growth year by year. According to a Packaged Facts Report, in the United States alone, the total sales of gluten free products are expected to reach $2.34 billion by 2019. This is equivalent to a 140% increase from 2014.Today, avoiding wheat and gluten is not something only people with celiac disease do. Due to the growing number of food allergies and food intolerance in the US, the demand for gluten free products is increasing. You could take advantage of this trend by opening a restaurant or bakery specializing in gluten-free products.
Those people who are getting ready to own a good business need to ask themselves a fundamental question: what is a good business to start? Obviously, the goal of a business is to make profits. Many of you are also seeking to achieve a high income by starting your own business.
Thus, the best business to start is one which will allow you to reach your goals regarding income rapidly and on a consistent basis. The last part is quite important. You want something that will be stable and not a business that will start out just great but will eventually fizzle out after a few months and thus bring you back to square one in your search for financial freedom.
The answer to the question of what is a good business to start will also take into consideration your
interests as well as your skills. If you could picture yourself running a business right now, what exactly would you be doing? It is always important to have a business in an industry that you find interesting.
The best business to start is something that you will take pleasure and pride in doing and not just
something that you do to make money. Many people want to leave their job because it is something that they are not passionate about.
Prioritize your goals from the most important to the least important because all goals are not
created equal and try to incorporate them all as time passes. To succeed in the business world, you will need to have some good enthusiasm and motivation.
You need dedication
Commitment serves more than just as a motivation, but it will help you to overcome the information overload that new business owners often have when they feel bombarded with a whole new
set of responsibilities and the need to learn new things.
And since the learning of these new skills has a financial consequence, it makes dedication a huge part of the business. Another reason why dedication is so important is because new businesses often go through a period of trial and error. Not giving up after a few bumps in the road and realizing that every failure brings you closer to success is very important to stay focused on.
The following are good businesses to own.
This is a nice home business if you enjoy watching children. Professional childcare centers cost so much, that you can set a price which any parent would be grateful for, and yet still earn some good money for yourself. All that you need to do to watch children in your home is to become certified by the state.
There are even some state agencies that offer free certification classes for those wanting to open
childcare centers in their homes. Part of this certification involves learning CPR. Once you are certified to watch children, you just need to advertise your services. The great thing is that many times, as a childcare provider, you can watch your own children while you are getting paid to watch the other kids.
Network marketing businesses are plentiful, and they are potentially good businesses to get into. There are so many network marketing businesses that anyone can start. They often cost little to no money to start (under $100 for many of the most popular ones).
They are an excellent way to socialize, improve your people skills, learn sales and marketing skills, and get paid for it. There is a network marketing business for just about every product and service out there.
Becoming a virtual assistant is a good business if you like helping others with their business or personal needs. A virtual assistant mostly acts in an administrative function, by performing various task such as answering the phones, creating correspondence, or managing various computer databases that the client requires of them.
To become a virtual assistant, you will have to learn basic office computer skills. You will need a complete home office that contains items, such as a computer, a fax machine, a phone, and sometimes a scanner.
You'll also need to have a flexible schedule because different clients will need your help in various times of the day. To this end, it's probably best to have a cell phone as well. There are online agencies that certify virtual agents, and help you to find clients to work for.
Another small investment business as a part of your best ideas for a good business is to work as an
entertainer. Professional entertainers, such as children's performers or musicians, can use their already honed skills where they work part-time or full-time at various events.
Many performers work at playgroups, birthday parties, library events, church events, or hospitals where they literally work off of what they know. This can be a good business venture since these ideas may only take 2-3 hours and require no upfront investment.
A final way to own a good business with little investment is by marketing your crafting skills. Those who have skills in the arts and crafts can use this to sell their products online or through their community. Since it is a skill they already have they can create a craft such as a knitted piece or jewelry and sell what they have made.
This requires low investment because you are using a skill and supplies you have and turning them around for a profit for your business.
When you ask yourself what is a good business to start, you may also question yourself as to whether you actually have the skills required to run your own business. Regarding business skills, these can be quickly learned thanks to the training program of the business that you will be involved in. You just need to be able to think outside the box to apply what you will learn.
A business that generates substantial income will also undoubtedly require you to invest some money in it. Don't believe that you can begin a business which earns five figures a month without putting up any money for anything. Anyone telling you so is either lying or misguided.