Despite the global pandemic, finding a solid business idea and executing it has never been easier. Typically, the best business ideas thrive off passion, strategic thinking, skills, and impeccable timing – without personal satisfaction, running a business becomes a soulless pursuit for money.
Fortunately, there is no shortage of profitable yet exciting business ideas. Whether you enjoy taking care of the elderly or love the freedom that comes with working from home, you can find a suitable niche in 2021.
Here are six business ideas to consider in 2021:
E-commerce is hands down the most versatile business idea in 2021. Thanks to pandemic-induced lockdowns and social distancing rules, the growth of online shopping accelerated by 4-6 years. If you have ever felt the urge to start a retail business, now might be the best time.
E-commerce stores are perfect for both first-time and experienced entrepreneurs who would like to venture into an online business with minimal start-up costs. The beauty of e-commerce is while you may wish to produce and store your products, you could easily outsource most upstream business functions via fulfillment models like dropshipping.
2. Senior Home Care Services
Let’s face it, America (and most of the developed world) is aging fast. There are at least 50 million Americans aged 65 and above, and the number is set to double in the foreseeable future. Senior citizens – particularly in their 70s and 80s – are pretty vulnerable and may require extra assistance to perform the daily activities younger people take for granted. That’s where ADL care comes into play.
ADL? What is ADL? Short for activities of daily living, ADL is a critical component of healthy senior living. By starting a senior home care business with an emphasis on ADL, you can help homebound elderly citizens get through routine tasks like housekeeping, running errands, and meal preparation. ADL care is a surprisingly profitable yet satisfying way of directly helping one of society’s most neglected members.
3. Healthy Catering
Whether you’re a professional chef or simply have a knack for surprising friends and family with fantastic home-cooked meals, there is a lucrative business opportunity waiting for you. The food business landscape has made tremendous leaps in the past few years thanks to innovative, risk-tolerant foodie entrepreneurs.
More people are beginning to embrace creative catering services. Couple this with the sudden concern for healthy living, and you could have a steady stream of health-conscious customers eager to purchase nutritious meals. Furthermore, if you enjoy a particular cuisine, you could serve a specific client base exclusively. Whatever you choose, make sure you have the proper permits before diving into this venture full-time.
4. Craft Beer-Making
Some business ideas require hefty upfront investments, but they are exciting nonetheless. Craft beer-making happens to be one of them. If you have the start-up capital, a deep passion for beer, and a natural brewing talent, craft beer-making might be the business for you.
The demand for craft beer is always on an upward trajectory, plus there is arguably nothing more satisfying than turning a hobby into a successful business. However, similar to catering services, you may need to apply for specific permits before launching your mini brewery.
5. Consulting Services
One of the best career progressions for many industry professionals after specializing in specific fields is simply sharing their expertise. Consultants are often sought after by all kinds of businesses looking to scale or improve their bottom lines.
With some networking and marketing efforts, you can tap into this ever-growing demand for valuable industry knowledge. That said, regardless of your profession, you will need an aesthetic website to showcase your skills and experience. Ask previous clients for testimonials to serve as social proof and integrate social media platforms like LinkedIn to grow your professional network.
6. On-Demand Printing
Do you enjoy the thought of running a business without the hassle of storing and managing inventory? Start a print-on-demand business: it is easy to start, low-cost, and can be highly rewarding.
On-demand printing is an excellent business idea for creative people looking to cash in on their artwork. From hoodies to mugs, t-shirts, and greeting cards, you can share your custom designs for a profit. In addition, all you will handle is the designing – the printing, production, and shipping is better left to a manufacturer.
Perhaps the biggest perk of on-demand printing is once you have a couple of good designs, the business can run hands-off. To establish your brand much quicker, consider sharing your plans on social media and marketplace sites to drive high-quality traffic to your website.
Even though finance, product manufacturing, and healthcare tech companies dominate the Fortune 500 list, these businesses might not necessarily be the most accessible for everyone. Instead, the most rewarding companies for small and first-time entrepreneurs have low start-up costs, are easy to start, and can capitalize on market trends or needs. Ultimately, the best business for you will depend on your skills, experience, and preferences.