What Kind of Small Business Should I Start in 2020?

New business owners usually want to find a market that will make customers happy and still make some money. So you’ll have to figure out what type of solutions you can offer the public? How can you add to their life and still turn a profit? 

We got to thinking it’s not uncommon for the public to seek out special services that’ll free up their busy schedules. With that in mind, we did some research and came up with a list of 7 unique business ideas. The majority of our 7 unique small business ideas take a minimal amount of start-up funds and a limited amount of special training. You should also consider buying business insurance to protect your business.

1 – Fulfillment by Amazon 

Fulfillment by Amazon (FBA) is a business model that has (and will continue) to grow quite a bit. FBA is basically your standard ecommerce. The difference is you don’t fulfill the orders from your living room. Instead you can rely on Amazon to store your inventory, as well as pick, pack, and ship.

Another plus to the FBA model is that you’ll save a tremendous amount of overhead costs by outsourcing a large production component. Although your business will be less hands-on than a traditional business set-up, you could have even more sales by leveraging Amazon clientele. 

2 – Home Renovation

Reports have shown Kiwis spend an average of $2,200 per square metre for home renovations. In other terms, New Zealenders pay about $60,000 for a full home extension. This type of work involves a lot of skilled tradespeople like electricians, plumbers, roofers, tilers, drywallers, carpenters, and painters. If you have any of those abilities or would be good at coordinating a diverse group of people doing the work then home renovation may be best for you. 

3 – Meal Kit Sales and Delivery

Meal kit services are growing in popularity over the last few years with no signs of slowing down. Busy singles and families rely on meal prep services to put together healthy, fresh meals. In the U.S. alone, the industry is expected to surpass $10 billion by next year. Kiwis are also very interested in meal prep and delivery programs. Typically meal kits services rely on local, fresh ingredients which also helps to increase business opportunities for small growers and ranchers. 

4 – Bike Rental

Twenty percent of all New Zealenders spend a total of about 28 million hours cycling each year. Health, transportation, and environmental benefits are all part of the reason Kiwis pedal around town. Some individuals may not have access to a bicycle so they have to rely on bike rentals. This is also a very popular option for tourists that wish to do their sightseeing from a bike seat. You can run a bike rental business from your home via an online website or by setting up a more traditional bike stand. 

5 – Senior Care

In the next 16 years, 23% of the New Zealand population will be aged 65 or older. Unfortunately, many of these seniors are expected to suffer from poor health in their later years. Demographics like these make it clear that a senior care business has a lot of potential.  The need for senior care is paramount. If you get into a senior care venture now then you’ll be fulfilling a long-term need within the public. 

6 – Digital Marketing

Companies of various sizes know digital marketing has far surpassed traditional print marketing. In fact, it’s estimated that 95% of small businesses will increase their digital marketing spend within the coming year. Helping clients optimize their websites, create email marketing letters, and building their social media presence is an excellent niche. 

7 – Child Care

There are quite a few different early childhood education (ECE) sector business models. You have to simply decide what interested you the most. To find out more details and sort through the child care business options, be sure to check with your local Ministry of Education office. You’ll be able to find out what type of ECE services are needed in your community, as well as where to secure financial funding to begin your business. 

Maybe you’re excited about the possibility of being your own boss or building a legacy for your family. Whatever is motivating you to begin your own small business, it’s never been a better time to do so. Do plenty of research about various markets and business models that intrigue you. In the meantime, feel free to hang on to our list of seven small businesses worth starting this year.