What is a business anyway? A business is an entity or an enterprise that is committed to providing goods or services in exchange for some form of payment. In its most basic way, to do business is to make a living through commerce.
There are several types of businesses, namely Service Business, Merchandising Business, and Manufacturing Business. Below, we have listed 10 of the most successful business ideas that are currently ramping up all around the globe.
1.) Digital Marketing Services
Having your business’s online visibility and making sure people can easily see your website online can make or break your business. Digital Marketing services offer solutions to business owners who want to reach a wider audience and generate more potential leads and revenue. As a digital marketing service provider, you sell your expertise in SEO, Social Media, Content & Email Marketing to businesses looking to grow their brands. You can easily find clients to work with through freelancing websites such as Upwork, Freelancer, or get a full-time remote employee from Clique8. Finally scale by starting your website where you can promote your services, and by developing a team that you can delegate tasks to complete your projects.
I heard from Tim Ferriss’s interview with Airbnb co-founder Joe Gebbia that they initially rented out Airbeds for their paying guests, hence the name, Air Bed & Breakfast, or Airbnb.
Cool. For the uninitiated, Airbnb allows owners of houses and condo units to rent out their spaces to guests for a fee. They are significantly cheaper versus staying in a hotel, that’s why the popularity has been steadily rising in the past few years. If you have space, you might want to check this one out.
3.) Moving Services
Moving from one place to another is best done with a moving service. I recommend it against hauling stuff yourself as it will save you countless trips and prevent potential damage to your properties.
With younger families continually moving to be near their work, there will always be potential clients in this type of business. Starting one has also been made easier with apps/marketplaces like Mober and Transportify.
4.) IT & Network consulting and training services
Modern businesses that rely on computer systems to operate need regular maintenance and management – which makes the business idea lucrative as most clients will pay on a retainer.
Offices run on a bunch of computers networked together (including servers), groceries have an always-on surveillance and PoS system, and your friendly neighborhood coffee shop needs its WiFi, always running for its customers.
All these require IT and network expertise. For additional revenue, some even offer training services to companies, freelancers, and enthusiasts.
5.) Videography business
We love documenting ours and other’s lives, from a baby’s christening to its 1st birthday, graduation, debut, wedding, reunions, and pretty much anything else.
Videography services can be a lucrative business if you have the skills and a creative team behind you. Outside family events, there are also other opportunities you can delve into that would pay a lot more, such as covering conferences/conventions, producing online video commercials, as well as live recordings of concerts and festivals.
6.) Business & Company incorporation services
Building a business is no easy task. With all the legal paperwork required, you’ll probably need professional help to make sure all bases are covered and with zero loopholes.
Incorporation services make the process streamlined and easy for clients. If corporate and legal matters are your thing, this is a potential business venture.
7.) Home & Office Furniture rentals
Home and office rental is a niche market for those looking into leasing their products instead of selling them. I’ve seen ads online where they offer a short and long term “contracts” depending on the client’s needs.
Why rent furniture?
Like renting apartment houses, vacationers who stay in the places they visit for an extended period (a few months to a year) can make their living spaces feel more at home with rented furniture.
Saves on money and effort versus importing their furniture from abroad.
Entrepreneurs can use this same concept when building their companies from scratch. Instead of buying furniture for their rented office space, they can lease them for a year and renew as they see fit.
They’ll save on start-up costs and can quickly dispose of the furniture should the business fail. Aside from furniture, you can also choose to lease out computers and other office equipment to business owners (or even offer rent-to-own options for all your products).
8.) CCTV installation
As prices of CCTV systems went down and became viable outside of business and commercial use, more and more people are getting one for the security of their homes.
You can take advantage of this growing user base by getting trained as a certified installer and offering services to these folks. You can also upsell other relevant products, such as car dashcams and other home security systems.
9.) 3D printing service
3D printing used to be reserved for serious DIY hobbyists and enthusiasts. 3D printers can be a viable business if you have the right product idea.
You can produce mementos, trinkets, souvenirs, and other personalized items. It’s like having a mini-plastic factory at your own home.
10.) Storage Rental Services
With living space becoming such a premium commodity these days, having a dedicated area to tuck away your essential stuff or memorabilia is necessary.
Storage services are popular abroad, and in the Philippines, sites like kahon.ph and storagespace.ph offer the same experience to our fellow Filipinos.
You can start small by renting a small industrial space or warehouse where you can build several storage units you can rent out.