2020 has been a bizarre year for everyone all over the world. We are now several months into the worldwide COVID-19 pandemic, and the whole world is slowly going back to business as usual. While the deadly virus is still at bay, life must go on. Some of us are fortunate enough to keep our jobs and have a salary to ride through these uncertain times. But, unfortunately for some, businesses are struggling to keep up, causing many people to lose their jobs. If you have been affected by the COVID-19 pandemic, or just on the lookout for your next big business, here are the top 5 trending new businesses to start this year!
Business ideas to begin in 2020
As you will soon realise, most of these business ideas are a result of the rise of the digital economy. Thankfully, the digital economy is here to stay despite current unstable economic climates. And as we move towards a ‘new normal’ post-COVID-19, the digital economy also opens doors to a whole new set of business opportunities.
- Dropshipping
If you enjoy having your own business but are worried about the current unstable economic situation worldwide, dropshipping is your solution. It is a lucrative eCommerce business model which means you likely will not face any problems with a lack of customers as long as you have strong advertisement strategies. Dropshipping is a low risk and low-cost business, which is a no-brainer for most entrepreneurs to try it out.
How does it work?
With a dropshipping business, you are the middleman between a supplier and your customers. Your first step is to find a reliable supplier who will store, package, and ship your customer’s orders directly to their doorstep. Then, you need to set up an online store to advertise your products and use advertisement strategies to promote your products.
- Content writing
With everything being online today, businesses need to have a strong internet presence to stay ahead of the game. To do this, they need a lot of content for blogs, product pages, etc. Most of the time, businesses will outsource content creation to third party agencies. Thus, now’s the best time to start a content writing agency! The best part is, your entire business can run remotely as everything is online. All you need to do is gather a bunch of enthusiastic writers, a couple of SEO experts, then you’re on your way to creating a profitable business.
- Social media manager
Social media is booming. Brands, celebrities, influencers, and basically anyone who has access to the internet can use social media to get the attention of an international audience. Because of this, brands are investing a lot of money to reach their target audience through platforms like Facebook, Instagram, etc.
- Online language tutor
These days, many people around the world want to learn English. So if you speak the language, congratulations! You just found your new business idea. While some platforms require certifications for teaching, you can also find platforms that will take you in as long as you are a native speaker. Just search online for these jobs and you will be teaching English in no time.
- Start a Home Health Care franchise business
Home health care is an industry with a heart. Currently, the industry is valued at $93 billion in the US and is expected to continue growing rapidly in accordance with the expanding aging population. It is a service that provides care for people who are unable to care for themselves such as the sick and elderly. These services include professional services such as nurses, therapists, and also other assistance like companionship, or services that aid patients to carry out Activities of Daily Living (ADL) at the comfort of their own homes.
Especially during the COVID-19 pandemic, we have seen the importance of home health care in caring for these patients and keeping them out of hospitals that were already operating at maximum capacity. Thanks to home health care, these patients are able to remain safe at home while being assisted with their daily and medical needs.
If you have no experience in the field but are passionate about starting a home health care business, opting for a franchise business is your best option.
While all these business ideas have huge potential, starting a home health care franchise business is the most rewarding in terms of financial and self-satisfaction. We know now that there will be a spike in the number of the aging population in a few years so now is the best time to invest so that when the time comes, the industry is ready to care for this vulnerable age group.
