The cost of setting up a new business has never been lower. Especially for online-based businesses. The latest technology has made starting your own business easy, affordable, and possible. But what businesses should you start, read on for our guide to the 20 Best Businesses to start in 2021,
Introduction to the 20 Best Businesses to Start in 2021
Coming up with a good business idea is often one of the hardest hurdles. To help get you started we’ve come up with a list of “online” and “offline” based business ideas that are easy to start, in demand, and can be profitable.
1. Retail & Distribution Consulting
Many retail commercial spaces are becoming ghost towns as people continue to shift to purchasing goods online. A unique trend that has already been established in China is using the retail outlet spaces for both customers and distributors. They shrink the front space to make room for a space in the back for distribution.
Approach mid-sized companies near to you, with retail storefronts that don’t get much foot traffic, and consult them on how to better utilize their space. This will be a growing need for businesses as the e-commerce trend continues.
Remember to be polite at all times, until what you’re doing looks good to the retailer they’ll see you as a nuisance at best. Of course, once they see the new business working out for them they’ll come to appreciate what your doing.
2. International Trade Consulting Company
Under Biden’s presidency, there have been a lot of changes and more potential changes coming with international trade. Many businesses are hesitant to go out of the states to source their goods.
You would help other companies keep up and manage these changes in regulations, tariffs, and other uncertainties. As other countries change their policies, there will be more demand for this idea. At first sight, it can be daunting seeing the number of regulations, so it’s best to start with one country; Canada or Australia is a good start.
Then as you become familiar with the rules and regulations and start to make contacts you can start to expand.
3. Security Company (Drone powered)
With the use of drones, it is possible to provide surveillance to large areas using thermal and HD cameras. It can also prevent the threat to human security employees from any harm from robbers or other threats or to monitor entire neighborhoods.
This is also an idea that can be started with a relatively small investment (surprisingly). You’ll need to buy a quiet drone with thermal, noise, and HD capabilities. In total, it costing about $1,500 if you shop smart.
You can then get training on the drone, there are plenty of companies who can train you on the correct use and will point out which laws you need to follow. Then you could go and get security contracts for large pieces of land.
4. School of the Future
The rise of AI over the next decade is going to disrupt how people work in general. This will change the needs of the schooling institutions that prepare our youth for the future.
The school of the future idea would be a private school, teaching people the skills they need to compete and operate with AI. If you can’t operate the machine then become invaluable maintenance for it. Soft skills are going to be in higher demand than ever before.
If you have a passion for education, you should definitely think about this type of idea. Get together with some equally qualified, like-minded folks so that you can provide as wide a range of skills as possible.
5. MRI Scanning Service
This may seem like an odd one but think about it – getting an MRI scan can take months in some cases. This is because there is such a backlog of people that need them.
The MRI Scanning service business idea would be a company that would provide mobile MRI scans. By setting up a stabilized truck and trailer, you could drive to high-demand areas, and provide MRI scans to multiple people in the area that need it.
This would avoid the cost and hassle of having a brick-and-mortar facility where people need to come to. We’re not saying that this is a low-capital idea but it is low risk – prices for an MRI scanner start at around the $200K mark and that doesn’t include the truck, trailer, and fit-out, but like most medical services there will always be a demand for it.
6. The No Cashier Store Conversion Company
Amazon was the first to open the gates to the stores with no checkouts and cashiers. However, they weren’t the first in the world to do this. China has been doing this for years, so don’t get scared of someone like Amazon coming into this space.
Amazon is selling their tried and tested technologies to large retailers directly but many retailers might be hesitant to deal directly with the giant, so be the go-between. Get in touch with them and offer the service to retailers in your area, become the local expert.
Go to the Amazon Just Walk Out website for more details.
7. Remote Worker Integration Company
There is rising demand from the workforce to be able to work from home, and it’s not just because of the recent pandemic. Not everyone wants to get on a bus or in a car to get to the workplace, and some people are happy to work from home.
For businesses, it makes sense because it offers lower operating costs; no costly office space for a start. In fact, people are demanding it.
To execute this idea, you would need to help small to medium-sized companies integrate security and other software to manage their remote employees. Things that would need to be set up would include a VPN, security software, other working software applications that the employee needs on a remote laptop, etc.
If you have strong IT skills, this a business opportunity you won’t want to miss.
8. Online Reseller
Those passionate about clothing and/or sales may want to consider starting an online reseller business. Although it takes a lot of time and dedication – and an eye for fashion – this is a great idea that you can start as a side hustle and turn into a full-time resale business.
You can start by using online store websites like Poshmark and Mercari to sell your unwanted clothing, eventually expanding to your own resale website and reaping the full financial benefits. Speak to us, we’d be happy to help.
9. Online Teaching
The demand for online education has opened up a wide possibility for entrepreneurs to start their own ventures. Since this is an online business idea, you can choose any subject you are knowledgeable about and teach a course regardless of your location.
If you don’t have advanced knowledge in any particular subject, you can always consider teaching English as a foreign language online to students overseas. Start with a simple website to advertise your new service and you can move on selling your courses online.
10 Medical Courier Service
If you have a reliable vehicle and good time management skills, you may want to consider creating your own courier service – more specifically, a medical courier service. As a driver, you would be responsible for transporting medical items like lab specimens, prescription drugs, and equipment.
The healthcare industry is expanding, which is great for job stability. You could start your courier business on your own or hire other drivers to work for you.
11. Medical Transcription Service
If you have a good ear and can type quickly, transcription service is a great business idea that allows you to work from home with a flexible schedule. Medical transcription services are especially needed as voice recognition technology proliferates for healthcare provider dictation.
If you’re not looking to start all at once, or if you have a day job you would like to keep, for the time being, you can accept as few or many transcription jobs as you’d like. To boost your business prospects and justify charging more, consider becoming a certified transcriptionist and delving into a few specialties.
Medical transcriptionists typically charge 6 to 14 cents per line of transcription, which can quickly add up. The typical turnaround time for transcription work is 24 hours, so it’s important to stay on top of the jobs you accept. However, the flexibility to accept only a few requests to get started means you can scale up as you are ready, making transcription an easy service to start up slowly.
Best of all, there is very little startup cost and overhead. You simply need a computer, the appropriate software, and a secure messaging service.
12. Professional Organizer
Professional organizers help people declutter and minimize for a living. In an age of materialism, many people are desperate to downsize and take control over their possessions, rather than letting their things possess them. Minimalism is becoming extremely popular, but people often find it hard to part with things they’ve owned for a long time.
If you’re a highly organized person who enjoys making spaces functional and comfortable, you might be good at coaching others to do the same. People will pay you to help them devise a method of minimizing their possessions and then maintaining an organized space.
To promote your business, ask if your clients will let you take before and after photos of the areas of their homes you’ve organized, and use those to create an online portfolio that you can put on social media and your website to attract more clients.
13. Translation Service
According to research from IBISWorld, the translation services industry saw a decline in 2020, as did many industries; however, it is projected to rebound nicely in 2021. That projected growth isn’t surprising, as the internet has opened up entrepreneurs in other countries to English-speaking markets and vice versa. Yes, online translation services are abundant, but most people still prefer manual translation.
This trend has created an opening for multilingual speakers to offer specific services, such as document translation and the translation of website information into languages for use in other markets. If you know multiple languages, carving out a niche in the translation services industry could be a successful endeavor.
14. T-Shirt Design Business
If you’ve got a sharp artistic sense then you might enjoy launching a T-shirt business. A few years ago we may have suggested a t-shirt printing business, but the fact is that there are a lot of overheads; machines, inks, screens, etc. The most important drawback to printing is time, and make no bones about it, t-shirt printing is a full-time business.
That is why it’s best to do the design and get a commercial garment printing company to fulfill your order, they’ll source the t-shirts, print them and ship them out to your customer, leaving you to getting creative. Visit Printful, upload your designs, you’ll be able to set your own prices, then get in touch with us and we’ll integrate the entire Printful system onto your own website.
15. Dropshipping
Not all companies that sell goods store them onsite. In dropshipping, people who run e-commerce sites go to a third party to fulfill all orders. The third party is likely a wholesale retailer or other entity that runs a warehouse and shipping operation. The minimal inventory and tools needed for dropshipping make it an especially great startup idea if you’re worried about overhead and physical space.
16. Virtual Call Centre
Unlike regular call centers, virtual call centers often employ people from all parts of the world, who then do the job from their homes. You can be sitting in your home and the person you are talking to could still think that he or she is talking directly with someone physically present in the company.
Have a read of this guide for full details on how to go about setting up.
17. Drone Videographer
If you like the idea of piloting drones, but do not want to get into the security side of it – see number 3 in this list – perhaps you should consider working as a drone videographer. You get to go to interesting places, meet cool people, and eventually develop a portfolio that could land you a job in Hollywood.
Top-end, professional drones are very expensive, but you can start small with a mid-sized drone and a GoPro camera and go from there. Hone your video editing skills and you’re set.
18. Gluten-free Bakery
Just like a regular bakery only gluten-free! While a very small home bakery won’t cost you that much, a larger commercial operation is not cheap.
Luckily, you can often get the necessary equipment for a much better price, and there’s no better way to start than from your own kitchen. Learn how to use blogging to increase awareness of your business, grow revenue, pair that with an ecommerce website, and wait for your orders to flood in.
19. Guided Tours
Are you situated in or near a popular tourist destination? Something interesting in your neighborhood?.
Starting a guided tours business can be a growth opportunity. You can use it to make extra money during the summer, or it can be the start of a much larger business that employs other people to work as guides. Consider setting up a website that enables people to book tours online.
20. 3D Printing Services
3D printing is taking the world by storm, and you can be part of this revolution if you just invest in a high-quality 3D printer and offer it to other people – the basic principle is to buy a printer that is outside the budget of most people or simply too much for a one-off. A good quality 23D printer will cost you around the $2,000 mark. Take a look at the best 3D printers.
They will simply send you their projects for you to print and then come to pick them up or have them send to them in a box.
In Conclusion
Ideally, your perfect business idea should consist of three things:
- It should be something you like doing.
- It should be something you are good at.
- It should be something that is in demand.
Just remember that in business, the idea alone is never enough. It’s going to takes hard work, passion, persistence, and dedication to overcome any challenges along the journey. If you’re able to do that, there’s nothing that can stop you from joining the ranks of successful entrepreneurs and business people from all around the world.
Also, remember that these are just 20 Best Businesses to Start in 2021, there are others and our best advice is to look at what you enjoy doing and try to monetize it.
No matter which business you start, you’ll need a website. Speak to us to see how we can help you to realize your dream.