1. Ghost kitchen
“Ghost” kitchens, also called ‘dark’ or “cloud kitchens’ – are businesses that provide delivery on a limited basis.
Instead of maintaining a physical location that customers frequent instead, these companies advertise online and through delivery services like Deliveroo, Just Eat and Uber Eats.
However, these platforms do charge a percentage of sales, usually around 20 percent. There is also the possibility of charging an initial cost for on-boarding.
This model of business exploded in popular during the outbreak as lockdown restrictions stopped people from eating out, and demand for home delivery soared. According to Statista statistics that there were 750 ghost kitchens across the UK in the year 2020.
If you’re able to meet the food safety regulations in place, you’re able to create a kitchen in your house, which means that start-up costs are not too high.
But, before your first delivery leaves your kitchen you’ll need be registered as a food-related business with your local council, and also have your workplace inspected for safety and health.
2. Digital marketing agency
If you’re a great internet-based communicator, a marketing company could be the opportunity for your business.
They offer online marketing services for other companies, such as branding writing, copywriting and optimization of search engines and social marketing via social media.
Establishing your own small-scale agency has a low start-up cost and lets you work from any location that has internet access.
3. Marketing via affiliates
In the event that you’ve already established a blog or website Affiliate marketing may aid you in making money from it.
Affiliate marketing refers to the process of promoting the products or services that other businesses offer through your website. Every time someone clicks the link or buys through the company you’ll receive a commission.
The amount of each commission differs, and it could vary between 1% and 20% of the client’s purchase dependent on search volume and the value of the transaction.
The process of setting up this kind of company is quite inexpensive – the most important purchase is the web site. However, it takes time to create a solid website that attracts affiliate partners.
4. Dropshipping as a business
If you’re constantly making product suggestions, dropshipping might be the right choice for you.
Through this model of business, entrepreneurs can curate a list of items that are sold by third-party vendors and post the items on a user-friendly site.
When a buyer makes an order through the dropshipper purchases the product from their preferred vendor, and then delivers the item directly to the buyer.
Dropshippers don’t have an in-house inventory, which enables them to provide a broad variety of items and avoid the burden of packaging, storage and shipping. Dropshippers make money by selling their products at a much higher cost than what they purchased the items for.
For the beginning you’ll require for your first step, you’ll need a site that includes e-commerce capability. Because you’ll only purchase products once customers have placed orders for them, the upfront cost tends to be minimal.
5. Website design
In a world that is increasingly connected every company requires an online presence and web designers are able to create that presence.
The idea of starting a business in web design might be an ideal alternative for those with coding expertise and a keen sense of particulars.
If you don’t employ other designers, the initial expenses are minimal. All you need is a high-end computer and the Web design application that you prefer.
6. Freelancing
If you’re looking to begin your own business without any cost upfront, then freelancing might be your solution.
You can be a writer, visual designer, advisor to financial institutions photographer, or social media marketer you are able to sell your services to customers around the globe.
What you’ll require to begin will depend on your area of knowledge. However, a laptop with a decent processor along with business cards and a portfolio online of your work are the ideal place to begin.
7. Event Management Company
Always seems to be the person who organizes events for families or groups? Use your talents to profit by setting up an event management firm.
Event managers manage everything from weddings and concerts to birthday celebrations and work events on behalf of their clients, collaborating with each to design an event that is that is unique to them.
Businesses that are new may begin by creating events for private parties local clubs, schools or local clubs prior to scaling up to planning events for corporations as well as larger companies.
8. Clothing professional
Selling clothing can be profitable business. In the UK, the average household is spending around PS840 each year on new clothing, ONS data suggests.
If you are a fashion lover you have an enlightened concept for your personal style, the idea of starting an clothing businesscould be the ideal business option for you.
In order to begin it is necessary to purchase quality products packaging, a site or physical location to market your products.
As renting a space for your shop is costly You might consider launching your business online and offering customers the opportunity to meet face-to-face at local market or craft fairs.
9. Videography and photography
The best photographers have an eye for detail and understand how to record the moment. If you’re like this may be interested in developing this talent into an opportunity for business.
Expect to be asked to take headshots professionally for weddings, as well as pet pictures.
Costs for beginning up may be negligible depending on the equipment you have on be on hand. You’ll require a quality camera, a method of transport along with editing software and a website for promoting your offerings.
10. The teaching of classes
If it’s painting, yoga or the art of public speaking. Sharing your talents to others could provide an opportunity for business.
If you’re going to teach students one-on-one, the initial costs are minimal. If you’re looking to expand and expand, you could hire an artist or videographer to help you design pre-made courses that you can offer online.
How do you find new business opportunities
If you decide to go with one of these options or choose another path, you’ll have to analyze the market and be aware of the competition before you start.
Here are some tips to find the most lucrative business opportunities.
Market analysis
Analyzing the market will aid you in determining whether your idea for business is viable.
There isn’t a one-size fits every approach to market research however, you can begin by identifying the key players in the area you are interested in, speaking to professionals in the field and assessing the potential customers.