You've decided to take the leap of faith and become an entrepreneur.
Exciting and daunting at the same time.
One crucial element to your financial success is determining what business ideas are profitable and offer the best opportunity to secure impressive ROIs.
Business ideas which will allow you to dominate the market and your net profit margins.
We have compiled 151 of the best small business ideas that are hot new opportunities in 2020, sure to procure impressive revenues.
But before we dive in, let me give you the inside scoop on my story.
Hi, my name is Ippei.
Much like you I was tired of the grind.
Making money for someone else.
I wanted to take the leap and become an entrepreneur but wasn't sure I could make it.
Then in 2014, I found this course.
This business model gave me the tools I needed to work from home.
Designing and ranking websites on Google that generate leads for small business owners.
I quit my job and am now a self-made entrepreneur with a dope pad in San Francisco, making more money than I ever thought possible.
That tree service site above has been making me $2000 per month for the last six years.
IMO this biz model is one of the best opportunities on the internet, and I'm going to show you why.
For The Foodies
Fancy yourself a bit of a culinary whiz?
Have a way of fusing unique tastes to entice and delight fellow food critics?
If you can create an exceptional experience with an interactive element, there is potential for you to make considerable coin in the food industry.
Highly competitive, market revenue equals $924,289 million in the USA and is expected to see an annual growth rate of 1.8% between now and 2025.
With the average American spending roughly $2, 792/year on food, despite a 'cut-throat kitchen' atmosphere, the food industry offers some of the best small business ideas in 2020.
Here are a few of our favorites to consider:
1. Olive Oil Pop-Up Shop
It's no secret that the olive oil craze has only been gaining momentum.
Globally, the olive oil market is worth an estimated $2 billion and is expected to see a CAGR of 2.9% from 2020-2027.
With tantalizing infusions from rosemary and garlic basil to citrus habanero, connecting with a wholesale distributor is crucial.
You can opt to sell olive oil online or in an establishment.
The beauty of pop-up shops is that your business is a novelty-it's only there for short time creating the FOMO (fear of missing out) effect which is an excellent marketing strategy to boost sales and your bottom line.
Add a ticket affair where people can engage in an olive oil tasting-like wine tasting-to maximize your profit potential.
This article advertises its wholesale olive oil brand, but also offers insightful tips on how to start an olive oil business.
2. Gourmet Popcorn Kiosk
The Boy Scouts no longer have the gourmet popcorn niche.
The beauty of popcorn is that it is a relatively low-cost venture that travels easily.
With $1.5 billion in sales in the USA this year alone, ready-to-eat popcorn is a healthier alternative for people looking for a quick snack.
The popcorn market is exploding as per this post.
You can open a cart or kiosk and determine the ideal district to set up 'shop for the day.'
Location is key.
Think about high-traffic areas such as:
3. Gourmet Cookies
Americans love cookies.
An often underrated dessert, if you have the baker's touch and an ability to whip up batches of decadent morsels, you may want to consider selling gourmet cookies.
This small business idea is better suited to an online or home enterprise until you build your client base and establish your brand.
Leverage social media and online platforms by offering customized, diet-specific, and special event cookie options.
A limited shelf life, your profit margins will be significantly higher if you go the made-to-order route-and you won't end up with batches of stale confections.
Check out this post for ideas on how to generate success with a gourmet cookie business.
4. Smoothie & Juice Bar
It's no secret that Americans are making a concerted effort to be more health-conscious and incorporate more nutritiously dense foodstuffs to their diets.
Enter the smoothie and juice bar craze.
Worth an estimated $3 billion in the USA, the smoothie and juice industry has experienced consistent annual growth of 1.3% over the last five years, and the future continues to look promising.
A retail establishment is ideal for maximizing profit potential despite higher start-up costs than those of the kiosk or food truck style options.
There are also numerous franchise options available, which you can check out here.
Setting up shop in affluent areas where individuals have a higher disposable income is also worth considering.
This post offers additional insights and suggestions on how to start a smoothie and juice bar.
5. Ice Cream Shoppe
Who can resist it?
Ice cream tastes delicious no matter what the season.
With a projected growth rate of 2.83% from 2020-2025, this $8 billion industry offers some of the top ROIs for entrepreneurs interested in the best small business ideas-hot new opportunities in 2020.
Driving the market is an increased demand for innovative flavors, plant-based options, and more health-conscious selections.
The ice cream market is segmented into three distinct types as per this article which includes:
Whether you opt for a food truck style or parlor, you can make a considerable profit with ice cream.
This publication offers some additional tips on how to start an ice cream shop.
6. Sandwich Bar
Fresh-made-to-order and unique ingredient combinations are the keys to profitability in the sandwich industry, which saw an annual growth rate of 3.4% in 2019.
Consumers are looking for mobile options that mesh with both their dietary nuances and budget.
There are numerous franchise options available, but if you are interested in starting your own enterprise, do your homework.
Where will you set up shop?
What can you offer that your competitors don't?
How will you market your brand and generate excitement around your creations?
You can offer delivery options, workplace lunch deals, or incorporate daily specials to further capitalize on this best small business idea.
Here is an article outlining the steps to starting a sandwich shop.
7. Food Truck
Popular and versatile, food trucks offer venture capitalists like yourselves the opportunity to break into the insanely competitive restaurateur industry without the staggering costs associated with an actual sit-down establishment.
The food truck market has brought in revenues of around $1.1 billion to date in 2020.
Your level of culinary expertise and food style you enjoy preparing will be the drawing card for patrons.
Here are a few of the hot trends for food trucks in 2020:
Food Truck Trends 2020
This article offers additional suggestions and a more detailed analysis of each.
It comes down to marketing, establishing your brand, and offering a one-of-a-kind culinary experience that will set you apart from the competition.
Check out this post for more information on how to start a food truck.
8. Meal Planning
Sometimes even the best-laid plans come crashing down in the throes of daily life and constant chaos.
Meal planning is a chore for many-who have grown tired of the "what's for dinner" mantra and are looking for an assist.
Planning meals is a career that encompasses many skills such as nutrition knowledge, food costs, dietary specifications or restrictions, and culinary variety.
If you get excited about food, you might be the perfect choice for planning menus for individuals, restaurants, events, or corporate functions
Consider incorporating a website or mobile APP where people can purchase and download menu plans and supplemental grocery lists for the week to max out your profit potential with this small business idea.
This article gives a more detailed description of the skills needed as a meal planner.
9. Cafe & Tea Salon
Coffee bars and tea salons are no longer about just grabbing a cup of jo to go.
The social atmosphere-ambiance and enticing aromas of freshly brewed beans or leaves keep American patrons coming back for more.
With revenue in the coffee industry worth $67, 663 million, and a CAGR of 8.7% between 2020-2025, tea is a worthy opponent.
Revenues in tea production in the USA for 2020 are $1.5 billion, so it really comes down to personal preference.
Offer variety and never-ever skimp on quality.
Equipment can be costly for both endeavors so consider rental or used options when first launching your venture.
10. Catering Company
Catering is one of the best small business ideas-hot new opportunities in 2020 because it offers the luxury of scalability and profitability.
With revenues of $13. 4 billion and a projected CAGR of 1.4% in 2020, you have the option to launch your catering business from home until you build a client base and are generating sufficient revenue to warrant an industrial style kitchen.
Americans are increasingly interested in where their food comes from and exploring new ingredients while embracing cultural trends.
Interactive and hands-on events have seen tremendous success when paired with unique experiences and uncompromising taste.
Despite being competitive, if you can hone in on your target market and offer a niche-specific style, there will always be room for a new player.
A few trendy catering suggestions include:
Infused Cocktails & CBD
Hand-Held Options & Inclusive Dietary Choices
Sustainability & Farm to Table
This post offers additional information on the top catering trends for 2020.
If you love the social aspect and enjoy sharing your creations with others, this article provides tips on starting a catering company.
The advancement of technology has afforded many Americans the luxury of working remotely.
Online business choices offer budding entrepreneurs interested in the best small business ideas-hot opportunities for 2020 a chance to carve out a piece of the lucrative online pie and generate substantial profits margins.
There are numerous laptop enterprises to consider but here are our top contenders.
11. Copywriting & Content Creation
Ask anyone who knows anything about leveraging social media platforms and the all-powerful Google the number one strategy to ranking well and they will all say the same thing...
Content and copy.
With a projected CAGR of 7.6% between now 2020-2026, apparently the secret is out but there are a few things to keep in mind.
- How you market your brand and your business will be the catalyst to your success.
- Determine your niche-what topics do you enjoy writing about?
- Who is your ideal target market-what do they sell, and how can your writing increase their ROIs?
A competitive playing field, you need to be able to produce enticing and descriptive documents that captivate an audience and sell whatever product or service your client offers.
This article outlines in detail how to start a copywriting-content creation business.
Freelancing is no longer a novelty profession.
Today's freelance market accounts for 4.8% of the USA's GDP and employs over 57 million people.
Revenues from freelancing are upwards of $1.3 trillion in any number of professions.
Cost-effective and flexible for business owners.
Highly lucrative for those with the in-demand skills coveted by companies.
Some of the top postings for freelancing in 2020 include:
Marketing & PR
Video & Photography
Content & Social Media
Software Developers & IT Support Techs
This article gives a detailed run-down of freelance positions worth investigating in 2020.
Who knows-your cash cow could be looking for your skills right now.
When you're ready to start your freelance agency, check out this post on how to glean profitability and long-term success with this suggestion.
13. Graphic Designer
Graphic design is a $13 billion industry that offers some of the best small business ideas-hot new opportunities in 2020.
Creative and technical talent is the name of the game.
Business owners are looking for designers who can take their vision and build a unique brand that will propel sales and increase their profit margins.
Strategic planning, implementation, and marketing campaigns will generate client trust and help to establish yourself as a leader in the industry.
This article offers excellent suggestions on how to start a graphic design firm.
14. Proofreading & Editing
Two distinct yet highly profitable small business ideas, the combined market is slated to experience an annual growth rate of 6.1% in 2020.
Build your client base through platforms like:
The going rate in the United States is $45+/hour or up to $1.00/word-so there is definitely potential to generate lofty returns with this suggestion.
Here is an article outlining how to start a proofreading/editing business.
Technology continues to advance at a rapid rate, but there is something to be said for the human touch.
Transcription software can only do so much before a live person needs to step in to ensure that documents are accurate and grammatically on-point.
Worth $19.8 billion in the USA, transcription is expected to experience a CAGR of 6.1% from 2020-2027.
Numbers that confirm if you have the skills, you have the ability to generate a substantial income with this small business idea.
Detail-oriented, multi-tasker, and an ability to meet stringent deadlines are non-negotiables in this industry.
Check out this post for specific steps on how to start a transcription service.
16. Landing Page Creator
The elusive yet critical component to driving sales.
But so many business owners miss the mark when it comes to their landing page.
A landing page's premise is to drive potential clients to your site or sign up for a service, yet many are failing miserably.
If you have the skills to create landing pages that build trust and brand recognition-elevate conversions and improve SEO-you possess a coveted technique that has the potential to earn you hefty payouts.
Build a website and establish an online and social media presence to build a client base.
Make use of platforms like LinkedIn, Pinterest, Twitter, etc. where you can connect and network.
If you can produce a track record of results, your services will be in constant demand.
Here is a post outlining how to build the perfect landing page for reference.
17. Digital Media Conversion
If your glory days are encased in cassette tapes and VHS, it may be time to revamp your technology and put 'the Boss' on high-def electronic files.
Digital media conversion is the art of converting analog and digital media formats to this century's automated technology.
With new tools and state of the art systems, it is now possible to edit, color, encode, and reinforce audio to create quality and accessible copies of those memories.
If you have the skills there is an increasing demand for your services.
A few of the current trends in digital media conversion include:
Augmented & Virtual Reality
Online Media Platforms
This article offers some additional information regarding current trends and the opportunity presenting itself in the world of digital media conversion.
Here is an example of a company generating impressive success with this small business idea to help get your wheels in motion.
Education and e-learning offer so much more than instruction for students.
With more Americans taking the plunge to return to school or learn a new skill, there are a plethora of opportunities in the academic market.
The e-learning industry is expected to grow to $12.81 billion between 2020-2024.
If you are well-versed in a subject or skill and have a passion for teaching others, now is an opportune time to consider this market.
We have listed our number one recommendations in the educational sector, which promise to be some of the best small business ideas-hot new opportunities for 2020.
18. Grant & Financial Assistance Agency
The price of education is no joke.
With rising tuition costs, the majority of Americans need all the financial assistance they can get.
The problem for many is often twofold.
People either don't know funding is available or do not know where and how to access them.
With both grants and scholarships available to students as per this article, if you excel at research, possess the ability to write compelling arguments, and understand the system, you can sell your skills to students starting or returning to post-secondary education.
Build a website and leverage social media platforms.
Connect with Facebook groups geared to students to build relationships and network while you establish your brand and credibility.
You need to demonstrate that you can land money for people and have a proven track record of success.
This article lists a few places to find funding to help you expedite the process.
Make no mistake.
The tutoring/online tutor industry is one of the most advantageous best small business ideas for 2020.
Online tutoring in the USA alone is worth $6333.3 million and is projected to see a CAGR of 6.2% by the end of 2020.
If you have the educational background or are well-versed in a particular study, this is a suggestion that will generate substantial profits and allow you to scale your empire.
Core subjects in K-12 are always in need.
However, there is a rise in demand for the following studies:
Check out this post on how to start an online tutoring business.
20. SAT/ACT/College Prep Instructor
We mentioned SAT and college prep in the tutor section.
However, this facet of the education sector is in a class of its own.
More than just the study and application required to write and obtain high scores on college entrance exams, consider offering a full-service college prep agency like the ones found in this article.
A resource for soon to be students and parents to understand the nuances and better navigate the college entry process.
An overwhelming task for many, the competitive landscape of college in 2020 is the driving force behind students needing a leg up to trump competing students and secure a place in a coveted ivy league school.
If you can guarantee admission and the desired results, you will be paid handsomely for your service.
21. Online Courses
Can you take a problem and provide a solution?
Do you have life experiences that may benefit others?
Are you willing to learn something new and document the process live to share with viewers?
Just a few requirements for online and ecourses.
The key to creating a fortuitous online course is the ability to engage your audience and offer value.
Determine your target market-what is their pain point, and how can you positively impact their lives?
The more niche-specific the better.
You can choose literally anything that interests you or know well as long as you can demonstrate strategies and help your audience achieve their desired outcome.
Once your course is completed-if you have done it correctly-it will continue to sell over and over-generating a passive income.
And that is without question the goal of any best small business ideas.
Here is a post outlining in detail how to construct an online course.
Webinars continue to be a popular method not only to educate but secure significant monetary endorsements.
Live events-the real money is made in the replay and upsell options.
You need to entertain-captivate and engage your viewers-provide a level of expertise that is not found through free Google searches.
Over-deliver and WOW your audience while giving them actionable strategies and tools they can implement in their lives to achieve goals.
The webinar topic market is vast so determine your target market and develop an online gold mine specific to their needs.
A few of the hot webinar topics in 2020, as per this post, include:
Check out this article on how to create a webinar that sells and lands you serious coin for your efforts.
Americans are living longer.
The age demographics are fluctuating and will only continue to do so as the number of older adults increases by 69% by 2026.
Statistics predict that by 2060-94.7 million Americans will be over 65.
19 million will be 85 years or older-nearly tripling from the current 6.7 million as per this publication.
With an aging population comes opportunity in the eldercare and senior living industry.
We have compiled a few of the best small business ideas in the senior care niche that are profitable and assured to see continued growth.
23. Patient Advocacy Services
Patient advocates are crucial for our seniors.
Patient advocates ensure that people receive the necessary treatment and healthcare benefits they are entitled to.
The patient advocacy industry is part of the healthcare system's intricate labyrinth which is predicted to consume 22% of the GDP by 2027.
This pace is growing faster than inflation.
Older citizens will need assistance with their unique financial and medical situations.
You need to understand the healthcare system and have the ability to navigate the red tape.
If you have the required skills starting a patient advocacy service is not only profitable but becoming increasingly vital for our seniors.
This article outlines how to start a patient advocacy service.
Eldercare encompasses any number of services for seniors.
From assisted daily living and companionship to respite and post-operative care.
For some seniors, eldercare is someone to take care of their gardens, run errands, or make their meals.
For others, it requires more medical-based intervention.
The USA eldercare market is worth nearly $512.7 billion and has seen annual growth rates of 4.2% for the last five consecutive years.
As the population ages, the need will only continue to escalate.
Some of the more in-demand services in the eldercare industry include:
Check out this post on how to start an eldercare business.
If you are compassionate, patient humanitarian with a soft spot for seniors, starting an eldercare organization may be one of the best small business ideas-hot new opportunities for 2020.
In contrast to in-home assisted living, you could offer assistance to aging individuals through an on-call agency.
Think of chores and tasks seniors may need help with.
Things like transportation-errands-grocery shopping and meal prep.
Or jobs around their home, such as house cleaning, home improvements, handy-person services, laundry, etc.
Establish an online portal where seniors or their extended family members can request and book a specific service, date, and time.
Be honest, price fairly, and create a reputation as trustworthy and dependable (seniors like to chat).
Here is an example of an existing business to use as a point of reference.
26. Home Medical Supply Rentals
Home Medical Equipment Rentals, also referred to as DMEs (Durable Medical Equipment), is a massive market of monetary potential.
Globally the industry is expected to see a projected growth rate of 4.5%-4.9% in 2020, with revenues exceeding $38.8 billion by 2025.
Be accessible and establish your brand and reputation as a leader in the industry.
Check out this site for an example of players killing it in this space.
Sought after and in-demand trends include:
Top Medical Equipment Rentals
This post offers an overview of ideas on how to start a rental equipment business.
27. End of Life Doula
Most of us hold the hope that when it's our time, we are allowed to pass peacefully at home, surrounded by loved ones and familiarity.
For older adults wishing to stay home, the burden of care can be a challenge for extended family members.
End of life doulas are trained professionals who offer in-home care to terminally ill individuals.
You make a difference in the lives of dying people.
Connect with training here if this small business idea resonates with you.
A healthy diet and nutrition are fundamental elements to a longer and better quality of life.
Americans continue to make positive changes to their lifestyles and eating habits, but it can sometimes be challenging to 'teach an old dog new tricks.'
Seniors set in their ways or that are no longer interested in cooking for themselves would benefit from a nutrition consultation.
The nutritionist market is worth an estimated $472 million in the USA, and employment is projected to experience a growth rate of 8% by the end of 2029.
You need to be certified and qualified for this profession, which you can learn more about here.
You can show older Americans quick and convenient options that still hold high nutrition content and help create shopping lists and strategies they can continue to implement into their daily lives.
There is a need for services, and the continued demand confirms that this is one of the best small business ideas in 2020.
Check out this post on how to start a nutritionist business.
29. CBD Wholesale & Distributor
CBD may be the magic potion for seniors willing to embrace alternative and holistic health options.
Currently, 8% of Americans over the age of 65 utilize CBD for its known health properties.
The CBD market is worth $9.3 billion in the USA and is projected to see a CAGR of 22% by 2025 to hit market values above $23.6 billion.
From sleep aids to dietary properties, as per this post, CBD has numerous health benefits for American seniors such as:
Health Benefits of CBD for Seniors
Addresses sleep issues
Alternate pain medication
Stomach & bowel disease
You need to ensure that CBD is legal in your states, and this article gives the most current information to be sure.
Here is an excellent resource on how to start a CBD business.
The American medical and healthcare sector is one of the best in the world.
Known for our research, innovation, and unprecedented level of care this industry's worth is staggering.
Projected to reach $10.059 trillion by 2022, there are countless opportunities and some of the best small business ideas for 2020 in this field. Listed below are a few of our fave picks.
30. Medical Transcription
With more online and technological intervention, there is a constant reminder for confidentiality and accuracy in the healthcare industry.
Medical transcription is the eye of the potential storm.
The process of ensuring there are no gaps in recordings or documents.
The guarantee that Americans will continue to receive the highest caliber of healthcare.
Worth over $29330 million globally, the medical transcription market is forecast to experience a 3.8% CAGR between 2020-2025.
Meticulous attention to detail and accuracy, proficient in medical terminology and qualified, if you have the skills, this is the business that pays the bills.
Start an agency where you can hire and outsource staff to overwhelmed and overrun medical professionals.
Check out this post on how to start a medical transcription business.
31. Medical Billing
Coding mistakes-loopholes-inaccurate documentation.
A few of the primary reasons why American practitioners lose thousands of dollars every year-and why medical billing has become such a vital service and profitable enterprise.
Medical billing is submitting cases to private healthcare providers or Medicare into billable claims.
This process ensures that medical professionals receive compensation for their service.
Qualifications are required which you can learn more about here.
To be successful as a medical biller you should possess the following skills:
Medical billing is both profitable and scalable.
With the option to start from home and build an empire as you retain more clientele there is no limit to your profit potential.
This post offers insight and information on how to start a medical billing company from home.
Advancements to technology are revolutionizing the healthcare system.
mHealth is a digital opportunity for Americans to manage their health and access information quickly and effectively all from their devices.
The global mHealth market is projected to reach a value of $311.98 billion by 2027 as more people take advantage of APPs and smartphones to harness healthy living and increased quality of life.
This small business idea takes some tech know-how, but if you have the skills, consider creating an APP that offers various health options.
Things like glucose monitoring, wearables, cardiac monitors, etc.
Tools that negate the need for people to visit the doctor or emergency room.
Alternatively, you could develop an interface between doctors and patients in a telehealth style platform.
Check out this post outlining a few key players in the industry to get an idea of what is selling and how to start your mHealth company.
33. Sell Personable Protection Equipment (PPE)
The world was ill-prepared for COVID-19.
Global shortages from masks and ventilators to hand sanitizers and toilet paper-we were not ready for a pandemic.
As Americans attempt to navigate the 'new normal,' it is abundantly clear that we are in uncharted territory.
Thankfully, American-based companies have been able to manufacture and produce PPE equipment and supplies to keep people safe.
Consider connecting with sites like invisibledefender.com as an affiliate and selling PPE to individuals and business owners.
Americans need safeguards like:
Hand Sanitizer & Disinfectant Wipes
Like it or not, the need for masks and other PPE equipment will be at the forefront of our daily lives for a while.
Jump in on this best small business idea-hot new opportunities for 2020 now and help your fellow citizens during a time of crisis while receiving compensation for your efforts.
American's love to be entertained and are willing to cough up coin for innovative and out-of-the-box experiences.
Sure there will always be time for Netflix and chill nights-but sometimes people want more.
Something out of the ordinary that not only delights but challenges their inner beast.
We have come up with some of the best small business ideas-hot new opportunities for 2020 in the entertainment industry.
Suggestions that are profitable and a sure drawing card for individuals looking for the hottest new craze.
34. Axe Throwing
Who said beer and axes don't mix?
Axe-throwing themed bars are hitting the mainstream as one of the newest ways to enjoy a night out.
A relatively low-cost and straightforward start-up venture, there are several franchise options available that you can read about here.
Determine your target audience and location.
Be sure to pick a place not saturated in this ever-growing popularity small business idea.
This post offers information on how to start an axe throwing business that will be highly lucrative and equally entertaining.
35. Escape Rooms
Collaborative adventures-the whole idea when it comes to escape rooms.
Becoming increasingly fashionable as a way to promote team-building, family-game night gone wild, or a bunch of friends trying to beat the clock, escape rooms offer something for everyone.
Immersive technology, visual clues, puzzles-all geared to using your collective brainpower and escaping before your time runs out.
You can build an escape room as challenging and innovative as you like-different levels for different folks.
A few of the current trends for escape room themes as per this post are:
While the 'gold rush' may be over for this best small business idea, there is still time to get in on the action and carve out a piece of the industry for yourself to generate substantial profits.
Check out this article on how to start an escape room.
36. Challenge Course
Remember the obstacle courses you used to love as a kid?
Challenge courses are the adult version that combines physical fitness with unique elements of adventure and skill-think ropes-rock walls-zip lines-etc.
Teamwork is paramount to successfully complete a challenge course that can be designed both in and outdoors.
The biggest obstacles with this business suggestion are location and cost.
You need secure and front capital to pay for the construction and design of your course.
But if you can generate a steady flow of traffic, you will recoup your investment and secure impressive ROIs.
A popular modal is to offer self-guided, pay-to-play access, which not only cuts down staffing costs but increases your bottom line.
This publication breaks down how to start a challenge course business.
37. Rage Rooms
Often described as 'cathartic' rage rooms-or anger rooms-offer an opportunity to unleash your inner beast.
The premise is to let loose all of that pent-up frustration, stress, and anger in a physical release without needing to clean up after yourself.
Rage rooms offer a unique experience and are gaining popularity across the United States.
Good for people's mental health-this best small business idea could be beneficial to your wallet too.
Check out this post on how to open a rage room.
38. Ninja Warrior Gym
So cool there's a hit TV show all about it.
Ninja warrior gyms are the newest craze for adults and kids in the United States.
So much so that there are competitions popping up across the nation to capitalize on this best small business idea.
The key to a successful ninja warrior business is to offer equipment for all ages and plan events-school field trips-etc. to generate high cash-flows.
Your ninja warrior gym should include some of the fundamental obstacles outlined in this post such as:
Market-build your brand and network using multiple social media and online platforms to generate a buzz and promote your business.
This article gives a detailed analysis on opening a ninja warrior gym (despite the plug for their products at the end).
39. Mini Golf
From fond childhood memories to awkward date nights-many a good time was had on the mini-putt course.
With more than 130 million Americans enjoying the game each year, the mini-putt market drives revenues over $1 billion/year.
Seniors-kiddies and even the sulky teen can't resist the entertainment factor mini-golf provides.
Indoor and outdoor options are available.
Even if you live in one of the colder states-if your course is trendy and you market wisely, you will make enough coin to carry you through the off-season.
Relatively low startup costs and inexpensive liability insurance make this suggestion one of the best small business ideas-hot new opportunities in 2020.
This article is an excellent resource for those interested in opening a mini-putt business.
Business is busy.
Not a bad thing.
But when the boss and staff become overwhelmed by aspects of the daily operations, many look to an outside agency to assist with shouldering the load.
There are limitless options within the business niche, but here we have a few out of the box best small business ideas for your consideration.
40. Sustainability Consultant
The quest for green continues.
Businesses are starting to feel the pressure to make significant changes to how they run operations.
The premise behind sustainability is to meet the present needs without compromising future generations' ability to meet theirs.
Projected to experience a CAGR of 3%, the sustainability market will see values of $33.3 billion by 2023, confirming that now is the time to consider this best small business idea.
The three main facets of sustainability are economic-environmental and social.
Unfortunately, most business owners don't have a clue where or how to begin.
And so they hire a sustainability consultant.
Individuals who are qualified and experts at assisting businesses become more environmentally responsible and adhere to the ever-changing legislation around 'going green.'
Specialization is key.
This article outlines in greater detail what it takes to become a sustainability consultant.
If you fit the bill, establish an agency and outsource your expertise to business owners.
If you don't-hire staff that do-build a brand and become a leader in the field.
41. Cooperative Workspace
With 4.7 million Americans working remotely, sometimes the corner coffee shop just doesn't cut it.
Consider that 3.4% of the population is working from home as per this post.
Hunched over a cubicle at the library or pilfering free wi-fi from the nearest Starbucks, and the idea to open a cooperative working space starts to make a lot of sense.
Both for you financially and for them in terms of networking and a place to go to actually work.
A place where people can work-meet-circulate and share ideas.
A chance to get out of the house-be social and collaborate with other remote professionals.
You can charge per day-desk-monthly-whatever.
Multiple people can use the space if you devise a platform where they sign up for specific dates and times.
Overhead is rent and basic office supplies.
This article provides some excellent tips on how to open a cooperative working.
42. IT Service & Support
The world is digital.
Even more so for business owners who feel the pressure to stay current in technological trends and leverage online platforms to generate sales.
Projected to see an annual growth rate of 22% by the end of 2020, the IT service and support market boasts numerous options for some of the best small business ideas-hot new opportunities for 2020.
The issue with technology is its poorly timed fickle behavior.
Business owners don't have time to worry about security breaches, software implementation, or the fear of potentially 'crashing' their system and so they utilize the skills of IT techs.
Think of opportunities like:
Artificial Intelligence Engineers
Cloud Software & Architects
This article gives a breakdown of the most in-demand IT jobs in 2020.
If you have the skills, starting an IT service and support agency is a highly lucrative business venture that will procure impressive profit margins.
Check out this post for more information on how to launch an IT business.
43. Supply-Chain Management
Tariffs-talk of a wall-global shortages.
Business owners are still attempting to recoup losses resulting from lockdowns, and the supply chain is sticky with challenges as per this post.
As American business owners scramble to meet the demands for goods and services, there is no better time than now to establish a supply chain management company to assist in securing suppliers and engaging in negotiations.
Supply chain management (SCM) focuses on cutting costs and ensuring consumers have access to products.
It's all about logistics-numbers-and bottom lines.
If you have the skills, a supply chain management business will reap incredible ROIs.
Check out this post on how to establish a supply chain management company.
44. Recruitment Agency
The intermediary between the ideal candidate and a frazzled business owner.
Recruitment agencies are becoming increasingly prominent at locating the perfect applicant for the job.
Worth $157.8 billion in the United States, the recruitment market offers an excellent opportunity to create an agency and help business owners save both time and money.
It's all about networking-contacts and networking some more.
If you can establish your agency as a leader in the industry, you are sure to secure substantial financial compensation for your endeavors.
Check out this article on how to start a recruitment agency.
45. Paper Shredding Service
Confidentiality is a non-negotiable for American business owners.
Consent forms, copies of sales receipts, old invoices-the list is endless.
Until the nation becomes a paperless entity, there will undoubtedly be an influx of old documents that are no longer needed and must be correctly destroyed.
Paper shredding and recycling is a $3.6 billion industry, projected to see a 7.8% CAGR by the end of 2025.
This is one of the more expensive startups on our list of best small business ideas-hot new opportunities for 2020-so do your research.
Determine the following:
Do your community corporations generate enough paper to warrant such a service?
What is the competition in your market?
Is your community set up to handle large volumes of recyclable materials?
Your answers will determine if this suggestion is a good fit for where you live.
If it is, starting a paper shredding business has the potential to be highly advantageous financially, and you will quickly recoup the up-front expenses for the necessary equipment.
You can opt for a mobile, pick-up, or drop-off style business as per this post, which also offers valuable insight into launching this venture.
46. Business Coach
American companies lean on the expertise of a business coach to assist in specific areas.
Things like increased self-awareness, team-building techniques, and accountability checkpoint.
The driving force behind the business coach's rising popularity is American companies on the quest for expansion.
Worth $1.34 billion worldwide, the business coaching market is expected to see a CAGR of 6.7% by the end of 2020.
The goal is to help business owners maximize their professionalism and see the bigger picture as per this post.
No formal education is required but may go a long way in building trust with your clientele.
Check out this article for a more comprehensive description of the steps required to becoming certified.
Have a flair for designing artisan crafts?
Adept with a paintbrush-kiln or macramé?
Why not utilize your talents to make some money?
Here are a few of the best small business ideas in the artistic arena that have the potential to draw in significant economic prosperity.
If you have the Richard Corben kinda talent, then becoming an illustrator is a no brainer.
Illustrators are commissioned to do any number of things.
But being a successful illustrator in 2020 isn't all about sketching either.
You need exceptional IT skills, creativity, imagination, an ability to promote yourself and adapt your style if necessary.
The illustration market offers a variety of avenues to secure profitability, but a few of the top trends are:
Illustrator Trends 2020
Determine what you like to draw.
Establish your brand and market your skills and talents.
Leverage social media and online platforms and be your most prominent publicist to build a reputation and land paying clients.
Check out this post on how to launch your illustrator business.
48. Art Restoration & Consultant
Art encapsulates beauty-history-and tells a story to those who appreciate the talent behind each piece.
The art market is as diverse and multifaceted as it is complex.
Worth over $67 billion globally, the art market offers several best small business ideas, but the role of art restoration is worth consideration.
You need to be qualified and understand the nuances and tools required to bring pieces back to life as outlined in this post.
The goal is to provide high-quality and budget-friendly services to individuals looking to restore pieces to their original state.
Check out this site for inspiration on setting up your art restoration business to achieve maximum profit potential.
49. Soaps & Bath Bombs
Being gifted in making personal items like soaps, lotions, and lip balms can pay off big if you get out there and push your products the right way.
The beauty of bath bombs and soaps is that they are super cheap to make if you connect with a great wholesaler like some of the ones listed in this article.
Build your website-Shopify is an excellent option for this best small business idea.
Alternatively, you could list your products on sites like Etsy.
But be forewarned that you pay a fee to list as a vendor.
Choosing the right scents and colors will go a long way towards cutting through the competition.
50. Candles & Beeswax
We need our bees.
Americans are making every effort to rebuild the honeybee population and ensure that they stay off the endangered species list as evidenced by this publication.
Aside from the obvious pollination point-wax and honey are staples in American culture.
The global candle market is worth over $9 billion and is projected to reach $13.72 billion by 2026.
Disposable incomes, celebrations, festivals, and tantalizing aromas are driving sales in the candle market.
Coming in at a close second is the newest trend for 2020 in beeswax wraps.
An eco-friendly alternative to cling wrap, beeswax wraps cover food and can be reused.
Pliable-perfect stick and 100% natural beeswax wraps are where it's at.
And this article lists five of the top brands you can mimic for your wraps.
This post offers valuable insight on how to start a candle business.
Out of the box a bit and sure to procure impressive profit margins, candle making, and beeswax wraps are some of the best small business ideas-hot new opportunities in 2020 worth considering.
51. Hand Crafted Trinkets
Enjoy making pottery?
Brilliant at stringing beads?
Handcrafted trinkets and one-of-a-kind pieces that are unique and enhance individuality or offer the perfect accent to an outfit are being readily sought out by American shoppers.
Sure-people can go to the mall and purchase jewelry, pet accessories, etc.
But Americans fall culprit to the Fear of Missing Out (FOMO) syndrome almost as much as they enjoy being the 'only one' who has it.
A few of the top handcrafted picks for 2020 include:
This post provides tips on how to start a business selling your handmade wares and start making money.
If you have the patience, why not consider sharing the love of your talent with others?
Lessons for kids, adults, or whoever has the motivation to learn a new skill is your target market.
Create a website and leverage social media platforms.
You can teach out of your home or travel to clients' homes until you generate enough customers to warrant opening a studio.
This post is a great place to start if this best small business idea is of interest to you.
Fit & Fabulous
The mantra 'thin is in' went out with your legwarmers.
Fit is the new sexy.
Embracing health and fitness trends is quickly becoming the new American past time.
Worth $94 billion globally with a projected CAGR of 8.7%, the fitness market is expected to hit $106 billion by the end of 2020.
Time to get your fit on.
Here are a few of the best small business ideas-hot new opportunities in 2020 worth getting after that promise to make you some money.
53. Personal Trainer
If fitness and physical activity are your jam, why not consider becoming a personal trainer?
This $10.4 billion market is growing at a rate of 1.4% in 2020 and offers a number of opportunities to secure economic prosperity.
You can opt for online sessions, in-home training, or travel to clients' homes.
There is also the option to open a studio or boutique.
Fitness boutiques have become the current craze, as evidenced in this post. Individuals appreciate the community aspect and a more intimate atmosphere.
You need to be qualified which you can learn more about here.
Personal training has the potential to be an extremely lucrative best small business idea.
This post offers additional information on how to start a personal training business.
54. Online Nutrition Courses
They say you can't work-out a bad diet.
Exercise and diet are the linchpins of a healthier lifestyle.
So why is it so hard to find a nutrition plan that works?
The global nutrition market is slated to reach $465.4 billion by 2025 as more people become health conscious and wish to implement healthy choices into their daily meal plans.
The issue is so much information and so many options.
Even the most educated consumer can get lost in the mess that is the nutrition market.
If you understand dietary nuances-qualifications are even better-and can create meal plans to educate others, you hold the keys to a successful enterprise.
Online-teleconferencing-webinars or face-to-face consultations will propel your business and secure substantial profit margins.
Identify and understand your target market-niche down and specialize.
A few of the top nutrition trends in 2020 as per this article consist of:
The growth and profit potential of wearable technology is staggering.
Americans have embraced the technology trend that allows them to track everything from macros and calories burned to body fat percentage and metrics.
Expected to hit revenues of $4,056 million by the end of 2020, at least 90% of Americans utilize wearable technology as per this article.
Create your design or partner with affiliate parent companies like the ones outlined in this publication.
Wearables are where it's at-find the ideal fit for your target market and you will track insurmountable ROIs with this best small business idea-hot new opportunities for 2020.
56. Clothing & Accessories
Ethically-sourced-on-point with a splash of metallic is what the American 'gym rat' is looking for in 2020.
Projected to be a $95 billion market by 2025, if you have the talent to design and manufacture gym worthy ensembles you have what it takes to launch an advantageous business venture.
This post offers some ideas for current trends to consider.
Or check out this article on how to start a clothing and accessory line.
Show Me the Money
The US financial sector is colossal.
The largest and most liquid market in the world-finance and insurance equates to 7.4% of the American GDP.
We love to spend it-some earn quite a bit of it-but the majority of us aren't that great at keeping track of it.
The financial market offers many best small business ideas that are sure to generate considerable profits.
Listed below are a few of our favorites.
57. Tax Prep
Paying taxes is a guarantee in life.
American's work hard for their money and would like to keep as much of their earnings as possible.
But Uncle Sam likes to skim.
Tax preparers can help people find ways to cut spending, write off expenses, and save bucks.
This $10.9 billion market continues to see a CAGR of 1.4% in 2020.
Americans need help with their taxes plain and simple.
As a tax preparer, you can ease the burden by finding ways to cut down what people owe and maximize returns.
Read more about the steps to take to become a professional tax preparer.
You can also check out this post on how to start a tax preparation business.
The list of monies coming in and out of the American business or household can be overwhelming.
Bookkeeping services provide an outsource solution to keeping numbers on track and stay in the black.
Revenue from the payroll and bookkeeping industry is worth $69.5 billion in the United States.
This small business idea is one with minimal startup costs.
You can work from home-online or attend business and homeowners locales until you generate enough clients to warrant renting office space.
Bookkeepers in high-demand have a specific skill set as per this post which includes:
Check out this article that provides valuable tips on becoming a bookkeeper.
59. Financial Advisor
Formal education and accreditation are required for the role of a financial advisor.
But with a CAGR of 1.8% by the end of 2021, there is a significant demand for this service.
By assisting Americans trim spending habits-sort out their taxes and save for the future, you provide an invaluable service.
Actionable strategies and sound advice are the key takeaways.
But with options to outsource your skills or start your own agency, this is an excellent way to offer your expertise and create financial freedom for fellow Americans.
This post offers insight into how to start a financial advisor firm.
60. Personal Budgeting Firm
Consumer debt has become a national crisis in the United States.
A $14.3 trillion crisis as per this post.
Americans need help.
Money management is a competency that many of us are lacking.
Personal budgeting consultants that can provide not only a viable and actionable plan of attack to eliminate debt but can educate and support individuals faced with financial hardship will be highly sought after.
From budget template PDFs and finance lists to consultations, online support, and step-by-step instruction, personal budgeting services have the potential to be a highly lucrative small business idea.
Additionally, this suggestion will help people faced with insurmountable debt make sense of their financial mess.
Consider offering services like:
Consultations & Financial Reviews
Budget Analysis & Ongoing Budget Analysis Assistance
Courses or Webinars
Check out this page, which demonstrates a business currently generating a ton of success in the personal budget consultancy space for inspiration.
61. Debt Collection Agency
Not a nice part of life, but an unfortunate reality for many-especially during times of economic hardship.
Professional debt collectors that operate in ethical ways are valued members of the business community, and this small business idea can be quite profitable.
With the option to work out of a home office, you can collect debts for all kinds of companies.
You just need to obtain customers and find their debtors as outlined in this article.
Check out this post for a more detailed analysis on how to start a debt collection agency.
62. Peer 2 Peer Lending
Americans want to pay off student loans.
Take care of personal debt.
And get the best possible rates available.
That is why so many are opting for P2P lending platforms in lieu of traditional bank loans.
Globally the P2P market is poised to see a CAGR of 19% by 2024-surpassing $44 billion.
P2P-or peer to peer lending allows individuals to borrow money directly from lender platforms who utilize technological advancements to reduce costs of staffing, maintenance, etc.
Lenders earn a higher return (typically around 2%)-much better than standard interest rates.
The system runs on algorithms that help protect investors from the risk of borrowers defaulting on loans.
This list gives a breakdown of the top lending platforms in 2020.
But do your homework and invest wisely.
With average returns equating to 5%-7% you stand to make some serious coin with this small business idea, but money makes people funny, and you always run the risk of being burned by dodgy debtors.
63. Forex Trading
Forex is the bona fide of stocks and commodities.
The largest financial market in the world-and yes-it's bigger than the stock exchange-forex holds a daily volume of over $5.1 trillion equities worldwide as per this post.
So what is it exactly, and how do you make money from it?
Forex trading is simply trading one currency for another and earning a profit on the difference.
Fast-paced-sharp-shooters are a must in this potentially profitable but equally risky business suggestion.
If that's you, check out this post to start earning big payouts with this best small business idea-hot new opportunities for 2020.
Promoting and distributing goods and services is the essence of sales.
A gift that few posses.
But if you have the talent and strategic methods required to sell your abilities will be in high demand.
American business owners are looking for hustlers.
Individuals with the stats to back up their claims.
There are a multitude of potential cash cows in the sales niche, but here are a few of the best small business ideas-hot opportunities for 2020.
64. Reseller Arbitrage
The method behind the madness with reseller arbitrage is to uncover goods and services for resale as opposed to personal consumption.
Purchase said products and devise a strategy to resell the items for more than you paid.
The more detailed your site descriptions and crisper your pictures, the better chance you have of securing optimum prices for your wares.
Do your research.
Determine what Americans are searching for online and be there to supply what they need.
Check out this post on how to land top sales and generate substantial profits with this small business idea.
E-commerce provides sales savvy entrepreneurs the opportunity to be part of the retail market with minimal start-up costs.
Entirely digital-e-commerce is quickly becoming the best way for Americans to shop for goods and services.
Valued at $410,891 million, profits from e-commerce sales are mind-boggling.
With a CAGR of 6.3% between now and 20204, the e-commerce market is slated to hit revenues of over $523,677 million.
You can opt to sell anything you like through your e-commerce portal, but a few of the current in vogue trends for 2020 as per this post include:
Hit up Google Trends and do some research.
Determine your ideal target market and focus on their pain points-what are they looking for?
What do they need to buy today?
Connect with reputable wholesale distributors like the ones listed in this post.
If you really want to ramp up your sales game, check out this post I published recently on how to accelerate your e-commerce business to capitalize on this suggestion.
66. Fulfillment By Amazon
Similar to reseller arbitrage, Fulfillment by Amazon is arbitrage with a twist.
For a fee, you can send your inventory-or a portion of it-to Amazon, who stores it in their warehouses until the goods are sold.
They take care of packing-shipping and fulfilling your orders.
Less headache for you and negates the need to have access to space to store your stash.
The key is to create a unique brand.
Stand out from the crowd and consider adding extra bonuses to increase your value and your bottom line.
This post offers a more detailed description of how to start selling with Fulfillment by Amazon.
If you're new to the scene, check out this post I published recently, giving a rundown of some of the best courses to help you scale your business and create financial freedom with Fulfillment by Amazon.
67. Affiliate Marketing
Do you have a website that gets tons of traffic?
You can earn a passive income with affiliate marketing by referring people from your site to another.
A performance-based system, affiliate marketing allows affiliates to earn commission on sales from links, paid ads, campaigns, etc.
While business owners use affiliates to peddle their wares.
One of the lowest cost per action (CPA) methods around-affiliate marketing allows you to access multiple media and digital channels.
If this concept is new to you or you would like to learn how to earn big bucks with affiliate marketing, check out this post I published, giving a rundown of some of the best courses to hone your skills and secure impressive ROIs.
Check out this article, which offers additional information on the merits of affiliate marketing.
Dropshipping is another fulfillment style selling method that not only allows you not to hoard merchandise but is the perfect complement to your e-commerce site.
Confirmed in this publication which also outlines the best dropshipping e-commerce courses in 2020.
Dropshipping is an easy way to bring customers together with the merchandise they want in an on-demand basis.
Like anything in life-if you want to succeed-you need to put forth some effort.
Marketing is paramount to your achievements.
Consider implementing things like:
Beguiling content & images.
Testimonials & reviews.
An exemplary website with a user-friendly experience.
Check out this article I published providing a detailed analysis of how to be profitable with dropshipping.
I don't like to toot my own horn, but I have been known to have had tremendous financial success with dropshipping historically that you can read more about here.
I enjoyed my dropshipping days.
But I always struggled to break the barrier to the next tax bracket.
Depending on fickle consumers got old pretty fast so I went back to my proven method of securing big payouts with lead generation.
I took this course in 2014, and it completely altered the trajectory of my life.
The beauty with this lead gen model is that it allows you to go into over 400 different niches in any city anywhere in the world.
Build simple websites following the detailed and comprehensive training outlined in this online program.
Rank said sites on Google and social media platforms.
Find a business owner looking to expand their business and sell those leads for profit.
The site is your digital real estate-the leads are your semi-passive income.
There is nothing like this lead gen model.
Despite my financial success with dropshipping, lead generation continues to be my number one recommendation and best small business idea-hot new opportunities for 2020.
69. Referral Service
Active in your community?
Know where to find the best deals and get top service?
If everyone seems to come to you for recommendations or ask where to find the best dentists, roofers, or daycare centers, you may hold the keys to a very advantageous small business idea.
92% of consumers trust referrals when they come from people they know.
Suggesting that if you connect with local business owners you can cut a deal.
Create an online referral service and charge a percentage based on sales for service providers you promote on your site.
This article offers some interesting stats on the importance of referral programs that may surprise you.
Find out more about starting your own referral business here.
The Great Outdoors
The attraction of taking the leap of faith and becoming an entrepreneur means that you can enter whatever market interests you or have a talent in performing.
Tired of the desk job?
Want to work outside-get your share of Vitamin D and say adios to fluorescent lights?
The great outdoors offers a host of some of the best small business ideas-hot new opportunities in 2020.
And we think the ones listed below are at the top of the charts for profitability and scalability.
70. Snow Removal
This suggestion will depend on where you live.
But if your winters include snow and ice, why not consider a snow removal service?
You can start small-residential jobs where it's just you and your snowplow.
Build a client base and hire some peeps.
When you're generating a solid income, consider renting or purchasing commercial equipment and offering snow removal to local business owners.
Snow removal is competitive, so you need to price fairly but not too cheap.
Market your brand-establish a reputation as the best in the business-and network your tail off to secure financial independence with this suggestion.
Check out this post on how to start a snow removal business.
71. Professional Christmas Light Installation Service
No matter what religion or culture you align with, there is no denying the magic and beauty of whimsically strung Christmas and holiday lights.
Yep-they look pretty and are a royal pain in the ass to put up and take down every year.
Hence the upswing for businesses offering professional installation service.
People can opt to use their own lights or go the whole hog and invest in the complete installation and takedown process.
Earnings per house equate to between $250-$1500+ as per this post.
Add in corporate setups, and you can double and even triple that price.
With minimal start-up costs and some basic equipment, you could make some serious coin.
This article outlines how to start a Christmas light installation business.
72. Bike Rentals
Who doesn't love to ride a bike?
Well-maybe some people don't love it-but the bicycle trend is here to stay.
Quick-convenient-environmentally conscious and good for your health, the global bike rental market is peddling in revenues in excess of $1.37 billion.
Projected to experience a CAGR of 14.3% by 2025, greener transportation and eco-friendly solutions are driving forces behind its popularity.
This low-cost business venture is all about location.
Consider the market and demographics.
This article offers some insight into starting a bike rental business.
It helps if you know how to repair bikes too to keep costs down.
Create an APP and online portal or interface where people can book and prepay to expedite the process and increase profitability.
73. Pool Cleaning
The swimming pool cleaning services industry is valued at $3 billion and with good reason.
The fourth most popular activity in the US-17% of Americans report owning a pool.
It makes sense logistically if you live in one of the warmer climate states and can operate year-round.
But pool cleaning is a necessary service that Americans are willing to pay for even if their season is only a few months of the year.
Pool cleaners make an average of $60/hour-up to $200+/hour if you have the skills to repair equipment and provide ongoing maintenance.
Get some training.
Get some on-the-job experience.
Talk to some of the big players in the industry as per this post.
Once you know the ropes, you can successfully start your pool cleaning service and begin making money.
Check out this article for additional details on how to start a pool cleaning business.
74. Micro-Mobility Rentals
Rush hour-congestion-parking nightmares.
Driving a vehicle today comes with more headaches than just the price of gas and oil changes.
The micro-mobility market is projected to reach approximately $200-$300 billion in the United States by 2030.
A greener, more environmentally friendly alternative to public transit or vehicle ownership-micro-mobility is the answer to compact travel for those short jaunts across town.
Rental and vehicle-sharing schemes are hitting the pavement as one of the most profitable business opportunities in the industry.
Build an APP where people can book, prepay, and unlock rental options.
Simple and user friendly, you are sure to secure substantial profitability with this business idea.
Check out this publication for information on how to maximize your profit potential with micro-mobility rentals.
75. Boat Rentals
Live close to a body of water?
Attract visitors and tourists to your locale?
Boat rentals could be the business for you.
Anticipated to register a CAGR of 5% from 2020-2025, the global boat rental market is estimated to sail in revenues of $23,160.11 million by the end of the forecast period.
Marine tourism is gaining popularity in the United States, and the next best thing to actually owning a boat is to rent one.
You can rent any style of boat you want and offer add-ons like:
Captain or no captain
Fuel costs covered
Toys like water skis-tubes-etc.
Offer a one-of-a-kind experience-one where memories are made.
To learn more about how to start a boat rental business, check out this article.
76. Landscape Designer
Sustainability is the way of the future.
American's are committed to incorporating energy-efficient solutions to ensure a better tomorrow, and this includes landscape design.
A $5.4 billion industry, landscape design has experienced some challenges due to the pandemic but continues to take them in stride.
Despite an industry decrease of 7.9%, landscape design is expected to experience a CAGR of 0.7% for the remainder of 2020.
Construction and renovations of commercial and residential property are the driving forces of the industry.
If you are trained and certified you are in one of the most advantageous markets, sure to be amongst the best small business ideas-hot new opportunities in 2020.
This article outlines the steps required to owning a landscape design firm.
Running a business is not for the faint of heart.
Endless to-do lists and daily transactions can leave even the most organized business owners frantically trying to accomplish all the necessary tasks.
Enter the agency to handle off-site operations and office innovations.
There are a plethora of best small business ideas-hot new opportunities for 2020 within the business sector.
Here are a few of the more profitable options for your consideration.
77. Virtual Assistant
Corporate America has increasingly begun filling its administrative needs in the online arena.
Digital innovations have paved the way for freelance and virtual assistants to do any number of tasks wherever they have a good internet connection.
You can build a virtual assistant agency-hire a team and outsource skills in various fields to business owners looking to fill contractual obligations or mitigate daily transactions for their full-time employees.
A few of the more sought after virtual assistant jobs include:
Content & Copywriting
Sales Proposals & Telemarketing
Translation & Transcription
Here is an excellent article that offers suggestions on how to start a profitable virtual assistant agency.
78. Data Entry
While there is no glam in data entry, it is a sought after service by many overrun business professionals.
No matter how techno we get, there will always be a need for data entry at some level.
Build an enterprise that offers a variety of data entry services.
Anything from inputting invoices to transferring email lists is fair game.
Offer reliable assistance and exceptional rates, and your services will be in constant demand.
The bigger you grow your network, the more staff you can hire until you dominate the data entry space and generate jaw-dropping earnings.
With minimal investment and the luxury of working from home, data entry is one of the top small business ideas for 2020.
Check out this post on how to start a data entry agency.
79. Answering Service
Gregarious-articulate with excellent communication skills equates to the perfect candidate for answering service and customer service representatives.
One of the top contenders for outsourcing options utilized by American business owners, starting an answering service agency not only offers you the freedom to work from home but has tremendous profit and scalability properties.
Start-up costs are next to nil.
Quiet environment, landline, and an internet connection, and you are good to go.
You are the face of the businesses who outsource your service so professionalism is paramount to your success.
A few of your responsibilities as an answering service agency include:
Answering Service Responsibilities
Take a look at this post for more information on how to start an answering service from your home.
80. Chat Bots
If you could implement something that would save you both time and money why wouldn't you?
These are the biggest reasons why American business owners are grabbing the bull by the horns and incorporating chatbots to their online presence.
Not only do they offer customers immediate responses, but chatbots can handle some of the mundane requests and questions that inevitably come with owning digital property.
Chatbots are expected to experience a 136% growth rate over the next 18 months, confirming that this is the time to get in on the action.
You need some tech ability.
But this article outlines a few of the best platforms available to build your chatbot.
Used by an assortment of business owners from authors and marketing agencies to realtors and fitness centers, it all comes down to branding, marketing, and networking your services.
Check out this post to build a passive income with your chatbots and secure financial freedom.
81. BETA Tester
Hours of research, strategizing, and countless false starts.
But when a product is ready for launch, BETA Testing is the final step in ensuring all runs according to plan.
An increasing number of companies opt to outsource BETA Testing to guarantee demographics, unbiased results, and skilled analysis.
Build an agency where you connect companies with corresponding BETA Testers who can determine:
Any issues or 'bugs.'
Recommendations to enhance user experience.
Record findings and provide input.
Provide reviews or testimonials.
This post gives a list of the top BETA Tester companies you can pilfer info from to create your distinct brand and generate impressive ROIs with your business model.
82. Micro Gigs
Small tasks can pay big money if you have the right skills and some time.
Businesses and individuals are willing to hire people for micro gigs like typing and data input, to things as intricate as computer programming and software implementation.
The best way to outrank the competition is to get uber niche-specific or location-oriented.
Design an APP or interface platform connecting gig-walkers with potential employers for a fee.
This article gives a rundown of what being a gig walker entails and how to generate high cash flows.
83. Tele & Video Conferencing
The tele and video conferencing market is blowing up.
With a CAGR of 9.8% forecast between 2020-2026, considering this best small business idea will see you outstanding profit margins.
Worth an estimated $6 billion in the United States as per this publication-if you have the skills to create and distribute platforms to meet the barrage of demands you are sitting on a veritable gold mine.
Turning any text into another language in a way that it loses nothing of its original meaning is the job of a translator.
If you are skilled and proficient in more than one language, this may be one of the best small business ideas-hot new opportunities in 2020 worth further consideration.
Learn the details of translation work here.
For the majority of Americans it feels like there just aren't enough hours in the day.
Those ten minutes needed to 'run to the store' are all but a distant memory between work-school-extra-curricular and familial obligations.
Enter COVID-19, which has compounded the time issue with line-ups, limited entry, and fear for many.
Add it all up and contactless and delivery options sound like the answer to prayers.
There are various assistance services you can build a business around, but here are a few of the best small business ideas-hot new opportunities for 2020.
85. Personal Driver
Smartphone APPs and at your finger-tips convenience have driven the personal driver market in the United States.
Rising at a rate of 13%, this industry offers flexibility and impressive ROIs.
Build an APP or interface that is simple to use and connects would-be patrons to your services.
This post offers a detailed description of the role of a personal driver.
Be sure to adhere to all licensing legislations in your state and conduct your due diligence with the types of vehicles and individuals you hire to perform services.
Check out this article on how to start a personal driving business.
86. Courier Service
Courier services combined with local delivery is a $114.8 billion market in the United States and offers a host of opportunities for venture capitalists to start a business and earn hefty gains.
The key is specialization.
Determine what niche you want to provide your services to-the more specific the better.
Consider industries like:
Healthcare & Medical Supplies
Delicate & 'Handle With Care' Cargo
Your niche will determine your style of transportation.
Courier services is a pretty competitive playing field, so do your research, build a unique brand and reputation to peddle ahead of the competition.
This post offers excellent insight and suggestions on how to start a courier business.
87. Laundry Service
Getting the laundry done can be a task too difficult to manage in busy households.
Help ease the burden by offering customized and on-demand laundry services.
The online on-demand laundry service industry is slated to experience a CAGR of 35.9% by the end of 2027 to hit values over $113.24 billion worldwide.
Transportation, access to a washer and dryer, an APP/website, and marketing savvy strategies are a must.
Spend the morning picking up loads and the afternoon getting them done.
Keep your clients happy by adding extras like fabric softener, spritzes, and eco-friendly products.
This publication outlines tips on how to start an on-demand laundry service.
88. Delivery Service
Love to drive?
Love to shop?
Delivery services are an excellent opportunity to incorporate them both.
Income from the local delivery service market reached $113.5 billion in the USA in 2020 to date.
Pushing the industry is digital ordering, the growth of e-commerce, and the current pandemic.
You can find customers through APPs or make contracts with your local stores.
You can offer anything you like with your delivery service.
Keep in mind that people want perfect, and they expect quick convenience.
While you may have to put on your finest customer service face for this best small business idea-hot new opportunities 2020, the silver lining is the low initial investment and high profit margins.
This post offers some additional advice and tips on how to start a delivery services business.
89. Junk Removal
If you've ever caught even ten minutes of the TV show 'Hoarders,' you can concur that Americans have a ton of junk.
While that is the extreme end of the spectrum, the reality is that most of us could do with a good purge now and again.
An undertaking in and of itself, the issue becomes where and how to get rid of the stuff.
Junk removal in the United States is projected to be an $80.7 billion market by 2023, confirming a need for junk removal service.
There are several franchises you can connect with if you prefer to go the 'tired and true' route.
Alternately, this article provides some advice on starting an independent junk removal company.
Virtual reality-immersive technology-5G.
The future is automation, digital connections, and a world that has become a much smaller place.
As technology continues to expand and amaze, Millennium doors are being opened to a host of new business ventures.
Listed below are some of the best small business ideas-hot new opportunities for 2020.
Suggestions now and for the future that promise to produce out of this world payouts.
90. APP Design & Development
Developers-writers-designers and testers create the amalgamated efforts of APP development and design.
With revenues hitting $3,553 million in the USA by the end of 2020, income from the APP industry is expected to see a CAGR of 10.4%.
Smartphone use is on the rise, and with a user penetration of 11.1%-13.4% as per this post, if you're tech-suave, this could be the business idea for you.
APP development and design needs an analytical mind that is graphic design inclined and able to research data to build the best user experience platform possible.
Consider implementing AR/VR components.
If you're a coding whiz you are at the forefront of mobile technology change and innovation.
Check out this post on how to enter the world of APP development and design.
91. Artificial Intelligence
Artificial Intelligence is a $22.6 billion industry in the US and is forecast to experience an annual growth rate of 54% by the end of the year.
Building machines to think and act like people AI includes technology and software/hardware to determine problems and provide a solution.
AI can be used in virtually any industry, but a few of the more popular sectors include:
A competitive niche, your success will be contingent on your ability to create an AI intervention that successfully addresses a definitive issue.
This article provides additional information on how to launch an AI business.
When a brilliant mind and boredom collide the negative consequences could be a wanna-be hacker.
Individuals with the tech-savvy ability to conquer passwords, coding, and security measure-all for the hell of it.
Cybersecurity isn't just an enterprise-it has become a necessary component to doing business online.
Projected to see a CAGR of 24.9% between 2020-2025, the cybersecurity industry will equate to $9.10 billion by the end of the forecast period.
Cybersecurity can be utilized by third-party blends and the implementation of infrastructure to combat and stop attacks.
You could also offer flexible server hosting platforms to help mitigate the risk or combine the two for a full-monty package.
This suggestion requires some ability.
But if you have the skills, this business idea will land you hefty payouts for your services.
This post provides suggestions on how to start a cybersecurity business.
93. Cloud Hosting Reseller
Cloud hosting is all about sharing the wealth.
Rather than have all of your data on a single machine, cloud hosting spreads it across several devices-different servers in distinct places that are all connected.
This system increases the computing power.
Data is managed by a virtual machine (VM)-everything is digital-only existing in a virtual setting.
With 70% of tech spending earmarked for cloud-based solutions, the cloud hosting industry is estimated to be worth $623 billion by 2023.
Cloud hosting resellers who have the digital talents to implement and manage cloud hosting servers will be paid handsomely for their services.
Tack on up-sells like tutorials, online training, etc. to secure even higher profit margins.
This article outlines in detail how to start a cloud hosting reseller business.
Software As A Service (SaaS) is a type of cloud-based software delivery allowing data to be accessed by a device using an internet connection and a web browser.
Cost-effective and efficient for business owners, SaaS negates the need to pay the full pop upfront or engage in arduous installations and contracts.
Platforms like Google Drive and Netflix are two of the more common SaaS examples.
But this cloud hosting software is quickly gaining popularity and is currently valued at $135+ billion globally.
With a projected growth rate of 18% in 2020, this best small business idea-hot opportunities in 2020 is a ticket to economical prosperity.
If you have the talent, you can offer software systems to business owners for a monthly fee.
You take care of all the application and connectivity issues, and they pay for your expertise.
Benefits to business owners who choose to implement SaaS Software as per this post include:
SaaS is trending as per this post and promises to generate substantial returns if you deliver the goods business owners need.
Check out this article on how to start a SaaS company.
95. Biometric Sensor & Security Company
Voice recognition-fingerprint scans-facial images-iris identification.
Identification methods that are being used more and more frequently.
Biometric sensors will soon become the norm for American business owners.
The biometrics industry is worth over $16 billion.
The market is expected to see an annual growth rate of 35.5% between 2020-2025.
For innovation business owners, this 100% automated technology not only offers efficient and streamlined solutions for security and authenticity purposes but saves them both time and money.
Biometrics is the wave of the future, as evidence in this publication.
Create a biometric sensor firm, and you will rake in substantial profit margins.
This article provides a list of players currently in the field to mimic your firm after.
Investing in real estate is, without question, one of the best monetary decisions you can make.
Sure there are highs and lows in the market.
But the same is true for the price of gold and the Dow Jones.
Whether you have a little bit or a significant amount of capital there is money to be made in real estate.
Here are a few of the best edifice business suggestions available in 2020.
Small business ideas that are profitable and guaranteed to build equity.
96. Flip Houses
There is an art to being successful at flipping houses.
Trading sweat equity-time-blood and sometimes tears for generous ROIs.
The key to house flipping is location-an understanding of market trends-and the ability to complete most of the work yourself.
Eliminate unnecessary spending on outsourcing tasks or tackling renovations that will not see your profit margins rise.
Check out this post on what not to do should you choose to engage in this money-making scheme.
97. Crowdfunding Real Estate Investing
Crowdfunding is nothing new.
Collecting money from various investors until you have enough to fund a real estate investment trust.
For investors, the return rate is higher than traditional investment models-to the tune of 8.2%-12.3% higher as per this post.
You own a percentage of the property based on your investment.
A lower-cost alternative to coughing up the capital to purchase a property outright, there are several benefits to real estate crowdfunding including:
Own Real Estate for Minimal Investment
Real estate crowdfunding does not come without its share of associated risks.
A relatively new concept, it is imperative that you do your research, strategize, and talk to individuals generating success in this market.
Check out this post outlining the pros and cons of real estate crowdfunding.
This article offers additional platforms and a more comprehensive description of each.
98. Rental Investment Trusts
One of the biggest challenges in the real estate market is coming up with the capital required for a down payment.
Real Estate Investment Trusts (REITs) are not unlike real estate crowdfunding.
The premise is the same.
Multiple lenders contribute a predetermined amount for a share in the ownership of a property.
With a REIT investment, however, you contribute to a corporation that invests your money into real estate on your behalf.
Rather than interest, you receive dividends.
This article provides a more detailed analysis of the difference between real estate crowdfunding and REITs.
REITs allow venture capitalists like yourself a chance to get in on the real estate market and generate a passive income.
This post outlines the best REITs for maximum yields to consider in 2020.
99. Rental Arbitrage
If it's legal where you live rental arbitrage is a sweet gig that does not require you to actually own property.
The basis of this concept is to sign a long-term lease and then list that property on short-term rental sites for more than your monthly rent.
You make profits from the difference and voila-passive income.
A couple of hurdles include getting permission from the property owner and legislation regarding this concept.
To find out if rental arbitrage is worth the effort in your state, check out this publication.
Consider offering the landlord a cut of the profits to keep them happy, and it's a win-win scenario for both of you.
This article outlines how to make money with rental arbitrage and why it is one of the best small business ideas-hot new opportunities in 2020.
If you can scrape together the capital for a down payment purchase a property designated as a rental.
Think about it.
Renters pay your mortgage and taxes every month.
You only cover costs for maintenance and upkeep.
Brilliant investment strategy.
One that will not only bring in high cash-flows but offers tax advantages, capital gains, and impressive ROIs.
Revenue from just apartment rentals are worth $182.9 billion in the United States to give you an idea of the profit potential here.
Determine your location-lock in the ideal tenant-and you have a passive income stream.
This article lists some of the advantages and how to make money with rental properties.
101. Rental Interface Platform
Americans own a ton of stuff.
They don't necessarily want to sell it.
But it would be nice to make some money off the mounds of crap stashed in attics or storage bins.
Consider creating an online rental platform where individuals can list items for rent.
Things like sports equipment, baby items, electronics, formalwear, etc.
Charge people a listing fee and percentage from the rental price like this Canadian site.
If you possess the tech skills, this best small business idea-hot new opportunities in 2020 are sure to draw impressive ROIs.
This article outlines the steps required to starting a rental interface platform.
When you look good you feel good.
And with a market value of $532 billion we are clearly not the only ones who see beauty and self-care as part of the physical-mental-spiritual triangle.
Social influencers and brand ambassadors continue to pave the way for unprecedented profit margins in the beauty and personal care market.
Listed below are several of the best small business ideas-hot new opportunities in 2020 within the beauty sector worth closer scrutiny.
102. Mobile Salon
Mobile hair salons are the cutting trend in the USA.
Convenient and accessible to all, opening a mobile hair salon has the potential to brush in considerable profit margins.
Revenue in the hair salon industry is worth $47 billion in the United States and is projected to see a CAGR of 1% through the remainder of 2020.
With franchise options available, you can also opt to open your truck kitted out with the industry's finest products.
Americans are particular when it comes to their hair.
People want a stylist who is current and uses organic products.
One who appreciates and understands advancements to color treatments and the newest trends in hair innovations.
Check out this post that, despite being published in 2018, offers some excellent strategies on how to open a mobile hair salon.
103. Head Lice Removal
The elephant in the room-no one likes to discuss head lice.
The unfortunate reality is that head lice is as common as changing your socks.
Itchy, unrelenting little bugs that wouldn't be wished on your worst enemy.
An estimated 6-12 million infestations occur every year in American children between the ages of 3-11 years old as per this post.
Yep-there are over-the-counter and DIY kits available, but if you have ever witnessed the wrath of head lice, you understand the need for professional intervention.
With franchise options available starting a head lice removal agency is both advantageous and becoming increasingly necessary in the USA.
This article provides a detailed analysis of how to open a head lice removal agency.
104. Mobile Spa
COVID-19 is giving them a kickin.
But the pandemic isn't going to last forever, and spas will quickly return to their high demand and prosperous revenues.
American's enjoy their spa treatments far too much to be swayed away for long.
Worth $18 billion in the United States, spas offer relaxation, rejuvenation and are a crucial element to overall wellness and the body's microbiomes.
A unique experience that pampers and offers a hyper-personalized approach should be your selling features to climb over your competitors.
Mobile spas offer convenience but should also include some of the more popular services like:
Body Treatments & Wraps
Facials & Massage
Mani’s & Pedi’s
Known as a competitive industry-honesty, integrity, and stellar service will see you generating substantial profits.
This article offers tips on how to open a mobile spa business.
105. Make-Up Artist
Are you gifted at helping your friends look their best with makeup application?
Do the latest trends in makeup excite you?
Cultivate a loyal customer base and service at your home or with a mobile option to lower start-up costs.
Increase profitability in this competitive industry by becoming a 'digital influencer.'
Leverage social media platforms to build your brand and clientele, and you will generate substantial profit margins with this best small business idea.
Check out this article for step by step instructions on how to become a makeup artist.
We are a nation of animal lovers.
67% of Americans own a pet and are willing to spend around $150/month to ensure they are loved and spoiled rotten.
The pet industry is worth about $99 billion in the US and holds a number of profitable best small business ideas-hot new opportunities in 2020.
But here are a few of our faves.
106. Dog Walker
The dog walking industry is a $1.1 billion market in the United States and is strolling to an annual growth rate of 1.5% by the end of 2020.
The key to success in this niche is hustle and reputation.
Build a brand and community presence as top in the field to outpace the competition.
Hook up with vet clinics, pet daycare centers, friends with dogs, etc. to build your client base.
Add in extras like organic treats, photo-ops, leash training, etc. to set yourself apart.
This post offers some excellent suggestions on becoming a dog walker.
107. Subscription Boxes
Subscription boxes are the latest e-commerce craze to hit the USA.
The market is estimated to be worth approximately $15 billion and continues to rise in popularity.
Americans love the scheduled convenience, auto-renewals, and high value.
Business owners enjoy the ability to sell their products and scale with confidence.
Subscription boxes geared for our furry friends are at the top of the list of products to sell and include:
Green & Organic Treats
Pet Accessories & Supplies
The value you offer your clientele, 'out of the box' items you include each month, and your price point will set you apart from competitors like those listed in this article.
Check out this post for tips on how to start a successful pet subscription box business.
108. Poop N Scoop Business
Backyards that look like minefields.
People walking behind their dogs with plastic poop bags.
If you own a dog you are responsible for cleaning up their leftovers.
Staggering statistics in the American dog population:
There are roughly 89.7 million dogs in this country, and they produce over 10.6 million tons of waste.
Picture 18 wheelers in a line from Boston to Seattle.
That is how much Americans dogs shit as per this post.
That my friends is a lot of shite.
Hence the rise in popularity of the dog waste removal business.
Build your business reputation-secure loyal clients who don't want to get their hands dirty, and make some serious dosh with one of the best small business ideas-hot new opportunities in 2020.
This article gives the 411 on how to start a dog waste removal business.
109. Pet Sitting
Pet sitting is a lucrative market.
With disposable income on the rise, pet owners are willing to cough up coin to ensure that their four-legged friends are taken care of during the day or while they are away on vaycay.
On its way to reaching $5 billion by 2027, the CAGR in the pet sitting market is expected to grow 8.7% from 2020-2027.
With minimal start-up costs and the luxury of working from home, the extra touches you offer will establish your reputation and build consumer trust.
This post provides additional information on how to start a pet sitting business.
110. Mobile Dog Groomer
American's love of pets knows no bounds.
As pet ownership increases, the demand for services like grooming and boarding continues to skyrocket.
Nearly doubling in the last decade, the pet grooming and boarding market is worth $9.2 billion.
People are willing to pay premium prices on pet services, and dog grooming fits their spending habits nicely.
Pet owners are willing to fork over coin for luxuries and added touches like the ones outlined in this post, which include:
Mobile Dog Grooming Add-Ons
The mobile option offers a lower initial investment than an establishment.
You offer the luxury of a 'come-to-you' service, which pet owners appreciate.
This article offers suggestions on how to start a mobile dog grooming business.
111. Dog Daycare
Doggie daycares are a lucrative business opportunity for all of you dog lovers.
With revenues equating to around $4.5 billion each year, this competitive industry requires inventive strategizing and unique offerings to outwit the competition.
This post outlines some interesting stats which confirm the profit potential in this industry.
Determine your target market-think Millennials and affluent income earners-people with disposable income and a sensitive heart regarding their fur babies.
Offer a luxurious and spacious environment.
Include extras like photo-ops, pup parties, training, etc. to capitalize on your earning potential fully.
Reputation and referrals will go a long way in this industry.
Build a brand and establish trust with current clients.
Market-network and market some more.
This post outlines a detailed analysis of how to start a doggy daycare.
112. Pet Products & Accessories
Pet products and accessories are booming.
With revenues hitting close to $100 billion in 2020, this market has seen a 4% CAGR in 2020.
Google Trends is your friend.
The key to profitability is creating and selling a product that is unique and not currently oversaturated in this increasingly popular market.
A few suggestions as outlined in this post include:
Exclusive Pet Food & Treats
One-Of-A-Kind Clothes & Accessories
Diversify-market-network and dial in on a niche-specific area with your ideal target market's purchasing style in mind.
Check out this article for tips on creating a pet product and accessory business.
Whatever you own you are house proud.
With 65.1% of Americans responsible for their residence there are a lot of happy homeowners.
The issue is the never-ending maintenance, renos, and inevitable costs associated with homeownership.
Some folks are handy.
Most are not.
Here are a few of the best small business ideas-hot new opportunities in 2020 geared at helping homeowners maintain and care for their castles.
113. House Cleaning
Cleaning is the bane of our existence for many American homeowners.
Who has the time?
Clean it and it gets dirty again anyway.
Hence the attraction to outsource the cleaning duties to a professional.
The housecleaning market is worth an estimated $5,725 million and is projected to experience a CAGR of 2.2% from 2020-2023.
Residential cleaning is a low-cost investment business suggestion that offers both flexibility and profitability.
It comes down to your reputation, brand, and price point.
Understand your target market.
Think areas with a higher disposable and per capita income.
Referrals and networking will secure a substantial client base and earn you impressive ROIs.
Check out this post on how to start a housecleaning business.
114. Home Renovations
American's find their perfect home only to realize that it's not so perfect.
Home renovations is a $328+ billion industry in the United States and has seen an upward swing since 2015 with no sign of abating.
People would rather renovate their existing space then face the hassle of moving house.
A few of the top renovation projects for 2020 as per this article include:
Painting & Flooring
Smart Home Additions
General contractors who have the expertise to tackle home renovations and remodels are highly sought after.
Some states require you to be licensed, which you can learn more about here.
Insurance and knowledge of state building laws are non-negotiables.
Network-build your brand-gain a reputation as the best in the biz, and you are sure to hammer home substantial profit margins with this small business idea.
This post offers additional information on how to start a home renovation/remodeling agency.
115. Home Staging
Home staging is more than just lighting candles and putting a few throw pillows on the couch.
You need an eye for design and the talent to transform a home to an aesthetically pleasing and welcoming environment.
Real estate agents are recommending home staging to would-be sellers to get the best bang for their buck.
Utilizing a home stager can increase property sales by up to 10%.
Staged homes sell for more cash and more quickly than those that are not staged as per this article.
Home staging is not only a lucrative business idea but will continue to see increased demand.
No formal certification is required.
But if you want to up your 'A-game,' consider becoming an accredited home stager, which you can read more about here.
Check out this post for a comprehensive guide to starting a home staging business.
116. Professional Organizer
Marie Kondo ain't got nothin' on you.
When stuff threatens to take over people's homes, they call in reinforcements to help them organize, declutter, purge, and set things right in their world.
This $8.5+billion industry is gaining momentum.
If you are a wee bit ODC inclined, can make the best use of available space, and implement strategies to organize and maintain a home, then your skills will be in high demand.
Professional organizers assist people in the following areas:
While there are no formal requirements for this business suggestion certification never hurts.
This post provides step-by-step instruction in obtaining certification.
Here is a publication outlining how to start a professional organizing business.
117. Gutter Cleaning
A necessary evil of homeownership.
Few enjoy doing it but it is a job that must be done.
If you don't mind getting your hands dirty, balancing on a ladder, and often facing disgusting uncertainty, gutter cleaning could be the answer to your financial freedom.
Despite being a seasonal business, there are real profits in gutter cleaning.
With relatively low start-up costs and a decent client base, your success hinges on your ability to sell yourself and your services.
This article offers additional information on how to start a gutter cleaning business.
Are you familiar with making light to moderate repairs on the house?
Is your knowledge of basic electricity and plumbing above average?
Your talents have the potential to earn you considerable coin.
For the less 'handy-inclined,' there are a plethora of odd jobs around the house that need addressing.
You can opt to connect with a franchise like the ones listed here.
Or start your own handyman business, which you can read more about here.
119. Home Security
You watch the news.
You read the papers.
It doesn't take a doctorate to acknowledge that crime rates are on the rise in the United States.
Home security has become an unfortunate but real necessity for Americans who wish to be proactive and protect their most significant assets.
Worth $53.6 billion in the United States, home security is expected to see a CAGR of 8.0% by the end of 2025.
There are so many systems, price points, and features attached to home security.
Choosing the ideal fit can be nothing short of headache provoking for homeowners.
By offering comprehensive installation, service, maintenance, and support, your expertise will secure you clientele and impressive profit margins.
This post offers supplementary information on how to start a home security business.
An eye for style?
On-point with trends and current fashion crazes?
The fashion industry is worth an estimated $1.5 trillion globally.
It offers an abundance of opportunities for individuals with the talent and prevailing tastes to provide American consumers with top of the line clothing and accessories.
Here are a few of our front-runners in the fashion market: the best small business ideas-hot new opportunities in 2020 to glean monetary success.
120. Vintage Clothing Boutique
Vintage is back baby.
In a world where we are making a concerted effort to reduce-reuse and recycle vintage clothing is trending.
From Hollywood celebrities to social media influencers, vintage is where it's at.
Raid your mother's closet.
Hell-raid your MeeMaw's closet.
The older, the better, but quality counts too.
This article lists a few of the top vintage trends in 2020 to help you determine what consumers are shopping for.
You can set up an e-commerce site, opt for the pop-up shop route, or establish a brick and mortar vintage clothing boutique.
This post lists some of the top vintage clothing boutiques to give you some ideas on how to set up your business for optimum success.
121. Brand Ambassador
Who says a prominent social media presence doesn't pay off?
Do you have an established network?
Does everyone seek out your opinion before making purchases?
You can become a brand ambassador and make serious money through social media marketing and representation of certain products and services.
But keep in mind that companies have their pick of the litter.
Who doesn't want to be a brand ambassador?
To set yourself apart from the crowd, brand ambassadors should encompass some fundamental characteristics as per this post which include:
Brand Ambassador Character Traits
Authentic & Dynamic Personality
On-Point With What's Trending
Positive & Exceptional Communicator
Professional-remember you are the face of the company you represent
Check out this publication outlining brands currently seeking brand ambassadors as a starting point to this profitable small business venture.
We've all seen them on our Insta feed.
People who hold the power to shape our shopping habits.
There are six types of influencers-mega-macro-micro-advocates-referrers and loyalists as per this post.
The number of followers-the ability to sway people's shopping decisions-and the cost to retain them.
Influencers differ from brand ambassadors in a few ways as per this post which include:
Your social media presence and desired outcome will decide whether you choose to become an influencer or brand ambassador.
Think you can be an influencer?
Check out this post to see if you have what it takes to make the cut.
123. Personal Stylist
It's not just about celebrities and politicians.
American women and men want to look good.
They desire to be fashion-forward and on-trend but have no clue how to put an outfit together.
A highly lucrative business, there is a significant demand for personal stylists from individuals with the capital to fund their look and your wallet.
You need a keen eye for fashion, color, and specific body shapes-finding the perfect pieces to complement your clients' physical attributes.
There is a lot of grunt work in this best small business idea-hot new opportunities in 2020, but there is also a lot of potential for substantial economic prosperity.
If you have a talent and can boost people's confidence and overall appearance, becoming a personal stylist could be your ideal business.
This post outlines how to become a personal stylist and how much money you can make with this suggestion.
124. Designer Handbags
Even Hermes had to start somewhere.
Designer handbags are one of the top trends that never seem to go out of style.
What changes is the demand for unique pieces, custom design, and one-of-a-kind luxury items.
If you are a talented designer and can connect with a reputable manufacturer, then fabricating the hottest new looks in handbags could make you some serious coin.
You need a professional website, catalog, and an ability to leverage social media platforms.
Market-network and build a reputation for outclassing your competitors.
This article gives a step-by-step analysis of how to become a handbag designer.
125. Wedding Gown Rentals
Price tags attached to weddings are crazy.
This $40 billion market can drain a savings account in a matter of hours.
The pressure to spend on food-booze-themes-favors-flowers.
To curb spending, American brides are opting to go the wedding gown rental route.
The guys have been renting tuxedos for years, so why not the gown?
Wedding gown rentals allow brides to say yes to the perfect dress without worrying about the budget.
You can opt for the pop-up shop or rent space where brides can 'shop' and pick their ideal gown.
Look for dresses on eBay, Craigslist, or Facebook Marketplace.
Own some stock and market your business.
This small business idea offers scalability and profitability.
Check out this post for tips on how to start a wedding gown rental business.
126. Custom T-Shirts
Everybody appreciates a good t-shirt.
Remember the t-shirt you bought in the summer of 6th-grade?
What if designing t-shirts was your job?
Build an e-commerce website where people can order custom t-shirts to minimize your initial investment.
Establish your niche and target market.
Use Google Trends to determine what people are looking for.
Some of the hot trends in t-shirts for 2020 as per this post include:
T-Shirt Trends for 2020
Generate a buzz around your product.
Market strategically, and you are sure to generate impressive profits with this business idea.
This article provides some excellent strategies and suggestions on how to start a t-shirt business.
127. Sewing & Alterations
No matter how well you size the clothes you buy, it seems a little alteration could make the fit better.
If you're a whiz with a needle and thread, you have a talent that alludes most.
Offer services like repair-hems-buttons-custom tailoring-etc.
Build a client base and start out of your home to minimize costs.
As your reputation grows-consider scaling to an establishment.
Check out this post for more details on starting a sewing and alteration business.
It's no secret that the United States is facing a skilled trade crisis.
The supply does not meet the demand.
Not even close.
If you have the talent and the training-or are willing to learn-there is a massive need for your service.
Skilled trades provide security and can be an outrageously lucrative small business to start.
Here are a few leading the pack that should achieve tremendous monetary compensation in 2020 and beyond.
128. Mobile Mechanic
If you know what cutter tools, clutch alignment, and strut spring compressors do and how to use them, you could be sitting on an automotive jackpot.
The automotive industry is a $63.1 billion market in the United States.
More vehicles are being registered, which means more are breaking down.
Auto repair is necessary-plain and simple.
Americans would rather repair than replace.
Add regularly scheduled maintenance into the equation, and there will always be a demand for mechanics.
The beauty of going mobile is it provides a low investment solution and negates the need to hire an abundance of staff.
Some states require you to be licensed as per this post, so be sure to check the stats where you live.
Advertise your service-build your reputation-offer fair price points and you are sure to generate substantial profit margins with this small business idea.
Check out this article for ideas on how to start a mobile mechanic business.
129. Appliance Service & Repair
You can find them in every home in America.
From vacuum cleaners to refrigerators, people depend on their appliances to make their lives easier and keep their home running smoothly.
Except when they don't.
The appliance industry is worth over $100 billion in the United States.
With the introduction of Smart Appliances the market will continue to soar.
Unfortunately-appliances like everything else-has a shelf life.
And they have a habit of conking out at the most inopportune times.
If there is a way to repair rather than avoid costly replacements, Americans will try that route first, as evidenced in this post.
Appliance repair techs can add to their repertoire to maximize profits by including services like:
Installation & Regular Maintenance
Commercial Grade Appliance Repair
You can start out of your home, go mobile, or opt to lease space.
Leverage Google and social media platforms to build a client base and your reputation, and you are sure to secure hefty ROIs with this best small business idea-hot new opportunities in 2020.
Check out this article for more information on how to start an appliance repair business.
COVID-19 has not been kind to drywall contractors.
But like services walloped by the pandemic, this $51 billion industry will bounce back and become more profitable than ever, as evidenced in this post.
A dusty, heavy, and thankless job, most homeowners would rather bite the bullet and hire a professional drywall contractor than battle it out with sheetrock.
If you have the skills and are willing to work hard, this suggestion will secure impressive payouts.
This article offers step by step instruction on how to start a drywall business.
One of the original trades, the masonry industry is worth an estimated $21.9 billion in the United States and has seen an annual growth rate of 3.6% since 2018 as per this post.
Far from a dying market, masonry is utilized in almost every facet of construction.
Mortar-stucco-brick-stone-masonry is ubiquitous and continues to experience advancement in material science, ergonomics, and equipment.
Apprenticeship-training or certification is required for this small business idea, which you can learn more about here.
Physically demanding, if you're cut out for this position, your skills will be in constant demand.
The construction industry continues to see growth in the US.
Hence the perpetual need for skilled masonry professionals.
This post offers additional information on how to start a masonry business.
132. Pest Control
From Floridian termites to the rats of New York there is no escaping pests.
Disgusting-filthy-germ-ridden insects and rodents that share our space.
Pest control is vital to reclaiming our territory and eradicating unwelcome guests.
Worth an estimated $16.74 billion with a CAGR of 5.2% in 2020, the pest control industry has experienced formidable growth, and there is no sign of it slowing down.
Pest control is a highly regulated industry in the US, so be sure to check your state's legislation before commencing with this best small business idea-hot new opportunities in 2020.
This article provides state-by-state license requirements so you can be sure.
Pest control business addresses any number of infestations and utilize several methods of eliminating the problem such as those listed in this article which include:
Poison & Traps
Fumigation & Sterilization
If attacking rodents and bugs is your jam, then starting a pest control business promises to be a highly fortuitous enterprise.
This post offers additional information on how to start a pest control business.
133. Cell Phone Repair
Can't live without them.
The number one way to communicate-nearly 300 million Americans owns a cell phone.
When they break it could be catastrophic.
Thus the $4 million value of the cell phone repair industry.
Slated to see a CAGR of 1.6%-3% in 2020, if you can fix them, cell phone repair promises to ring in substantial profit margins.
Revenues to the tune of around $800/week as per this article.
You can go mobile-from home or brick and mortar, depending on your capital for an initial investment.
People want convenient-same-day service and reasonable prices.
If you're reliable, efficient, and can save the consumer time and money, your services will be highly sought after.
This article provides some excellent information on how to start a cell phone repair business.
The painter market is worth $29 billion in the United States.
Despite a decrease in annual growth resulting from the pandemic, the forecast for professional painters looks bright.
There will always be a demand for painters in the industrial and commercial sectors.
When the housing market takes off again, there will be a surge of business from homeowners.
A low-cost start-up business you can start out of your home.
Leverage the platforms.
Spread the word.
Build your brand and reputation.
Price fairly and perform stellar work and you will see your painting business thrive.
Check out this article outlining how to make even more money with your painting biz.
Like The Cars say ‘let the good times roll’.
A night out or the hostess with the 'mostest'.
Americans appreciate entertaining and being entertained.
With the average household spending $2,482/year on entertainment and another $1,422 and change to host, there is money on the table in entertainment and leisure.
We have done some investigating and compiled a list of the best small business ideas-hot new opportunities in 2020 in the market.
Suggestions sure to solicit rockin’ profits.
135. Balloon Delivery
The balloon market is-well-ballooning.
Worth $647.3 million globally, the industry is expected to see an annual growth rate of 4.2% from 2021-2026.
Super low cost to fund, balloon bouquets and delivery is a business you can operate from home.
The market growth has been expedited during the pandemic as people look for contactless delivery gifts that are budget-friendly and still put a smile on the faces of their loved ones.
Everyone loves balloons, and profit margins are impressive.
Check out this post on how to start a balloon delivery business.
136. Photo Booth Rental
In an era of selfies-photo booths are the ideal complement to our ever-growing quest to document and share everything on social media.
Far from a fad, the photo booth market is expected to see a CAGR of 11.1% from 2020-2025 to hit values over $526.8 million.
Much more than just snap and shoot, new software has allowed photo booths to take their services to the next level.
Photo booths in 2020 offer several options including:
Video & GIF Capabilities
Introduction to iPad Compatibility-instant access to social media platforms, emails, etc.
A relatively low-cost start-up venture, you should plan on investing around $3000-$5000+.
But consider the payouts.
People earn up to $500+/night with their photo booths as per this post, so it won't take long to recoup and start seeing those ROIs.
Connect with local DJs or event coordinators who may use your service as an extra for their gigs.
This article gives the lowdown on how to start a photo booth business.
137. Mobile DJ
Are you the life of the party?
Love getting a crowd to their feet?
DJs need energy and enthusiasm as much as they need a kick-ass sound system and an ability to light up the dancefloor.
Advancements to software have changed the face of the DJ industry.
Opting for the mobile route makes good logistic and financial sense.
A competitive industry, you need to stand out from the crowd and differ from your competitors as evidenced in this publication.
Be prepared to sacrifice your weekends and work in a loud environment.
But if you love the tunes and love the people, then starting a mobile DJ business is not only profitable but can be a ton of fun.
Check out this post on how to start a mobile DJ business.
138. Professional Photographer
Photography is a $9.2 billion industry in the United States.
Despite a decline in annual growth rate this profession is far from dead.
Photography is evolving.
With rapid advancements to technology, the commonality of cell phone use for photo ops, and the video craze, photographers have had to reposition themselves and offer unique and interactive sessions, as evidenced in this publication.
All are paving the way for beguiling images that cannot be caught on your iPhone.
A few of the top trends in the photography market for 2020 as per this article include things like:
Photography is competitive.
Not only are you competing with everyday shots, but going up against numerous competitors.
Market-network-and provide an experience that sets you apart.
Build your brand and your reputation and really dial down on your niche and target market to maximize profit potential.
This post offers suggestions on how to start a profitable photography business.
139. Event Coordinator
If you are creative, meticulous, detail-oriented, and organized, then becoming an event coordinator may be one of the best small business ideas-hot new opportunities in 2020 worth consideration.
The event planning market is worth $5 billion in the USA and is projected to experience a CAGR of 2.6% by the end of 2020.
Households and corporations with the financial means to hire your services look for professional intervention in planning milestone events, holiday dinners, fundraisers, etc.
Define your brand.
What events do you want to organize?
Build an online and social media presence and generate a reputation for going the extra mile for your clients.
You can start from home and build your business as your client base evolves.
This post offers ideas on how to set up an event coordinator business.
140. Party Bus Rentals
The benevolent drinking and driving of the '80s went out with bangles and big hair.
As a society, we have come to understand the importance of never driving under the influence.
This cultural dynamic has paved the way for industries like limos and party bus rentals to drive out of this world revenues.
Typically a converted tour bus-party buses are decked out in luxe furniture, top-notch entertainment systems, video games, lights, dance floor, and, of course, booze and snacks.
A couple of obvious differences between a limousine and a party bus as per this article include:
Get your license, insurance, and your LLC or business set up per the laws in your state.
Advertise-market-network and you are golden.
This post offers some additional information on how to start a party bus rental business.
141. Nightclub Promoter
Are you the first one to show up at the hottest clubs and the last one to leave?
Do you have an impressive social media following?
You might be the person nightclubs need to promote their upcoming events.
How fun would it be to bring in more people to have a great time?
Find out how to become a nightclub promoter.
It's all about connecting with people and marketing the club.
Nightclub promoters get paid either a percentage of the club's earnings or per person as outlined in this post.
If you have a way of influencing people's social decisions, you stand to earn substantial money with this suggestion.