22 Startup Ideas to Start Profitable Business in 2020
Looking for inspiration to get your own startup ideas?
Working for yourself and being your own boss is incredibly rewarding and comes with multiple benefits. However, starting up can be risky and tiresome. That’s why we’ve created a list of over 20 up-and-coming startup ideas to get you inspired and build an MVP asap.
Let’s start with how you can come up with your own startup ideas!
3 Ways on How to Come Up With Startup Ideas
There are three basic ways of coming up with a startup idea.
Having a sudden idea
This idea is like an epiphany you have when you least expect it.
You’re in the shower or on your commute to work and it suddenly hits you, like a secret part of your brain had been developing for ages. You can’t believe you’re the only one to have that idea! You start developing it in your head, fleshing your idea out.
Sadly, with these types of ideas you’ll figure that your idea ends up fitting in one of these two options:
- Someone is already doing it in the best version possible
- No one is doing it and for a good reason
Still, every now and then people still have a sudden stroke of genius, so don’t give up on all of your ideas until you know for a fact they can’t be developed!
Developing an improvement idea
This idea happens when you’re already working on something and realize there’s a better way of doing things. You figure out what’s missing or how you could improve a process or service.
Unlike the sudden idea, these ideas tend to work better, because they’re based on experience and observation, even if that happens without you realizing it!
Actively looking for a new idea
Unlike the first two, which are almost accidental ideas, here you actively look for a new business idea. You research and prioritize ideas based on your knowledge and learnings. You may already have a slight idea of what you’d like to do, but you’re driven by your entrepreneurial desires, and not by a sudden stroke of genius.
Believe it or not, these ideas are the ones that tend to work out the best.
Because you’re taking your time to learn new skills and getting to know yourself and the market. All you need to do is to properly develop your idea, work on your pitch desk skills and launch your MVP.
That’s why we gathered a list of the best ideas you can develop in 2020.
We’ve also listed a couple of ideas that require some development resources. But, no worries, if you’re not an engineer. There are easy and cheap ways to outsource web development.
Best Startup Ideas 2020
Here we’ll show you the best ideas for 2020 along with the Google Trends data so you can see the growing market for them.
8 Easy and Cheap Startup Business Ideas
Let’s start with the easiest and cheapest startup ideas:
1. ClickBank Online Courses
The Internet is our new way to learn. Anything we don’t know, we look up on Google. However, not every query can be answered with just a Google search.
ClickBank offers you an affiliate platform to sell other people’s courses, or even your own! You can start creating a free account and promoting a few courses on Facebook to start selling.
Once you’ve sold a few, you can pay $50 to start a vendor account, where you can create an ebook to upload so other people can also sell your content.
All you need to do is to research a topic, preferably a topic you know well, and write it in a way to properly communicate your message.
After that, ClickBank charges a dollar plus 7.5% of each sale. You decide the percentage you’d like to give to your affiliates and the price of your course.
ClickBank is an amazing way of developing your own stream of passive income.
2. SEO expert business
An SEO expert can optimize a website and promote it through content marketing so it starts receiving more and more organic views in a few months. Learning how to optimize a website is an incredibly profitable skill.
3. Starting an intermittent fasting blog
Intermittent fasting is a new type of diet where people fast for a particular amount of time, from a few hours to several days. Although there have been so many new diets and trends, this one seems to be gaining the most amount of constant attention.
You can monetize your blog by placing ads, selling supplements with affiliate marketing and promoting brands!
4. Virtual Assistant Services
Are you a naturally organized person? More and more people are looking for virtual assistants to handle what they can’t and organize their lives.
Online assistants usually make their own hours, get to know and work for important people and build up their network very quickly.
5. Beard Oil
The beard oil market is competitive but there’s a growing demand. You can set up a small Shopify store to dropship beard oils and other men grooming products.
All you need to do is to start buying them yourself, find out which ones offer the best value and get professional photos taken to create a landing page. But only setting up a landing page isn’t enough. You also have to optimize it for lead generation.
Once your website is finished, you can promote it through email marketing and by establishing a strong online presence with the help of good influencers.
6. Language translator
Google translate is still far from reliable. In a world that’s more connected every day, translators are still in high demand.
Start to look for translator gigs in online platforms and, once you’ve developed your skills, move up to blogs and ask them if they’d like to reach a whole new demographic.
7. Digital marketer
Digital marketing has almost completely replaced offline marketing. However, the basis remains pretty simple: use ads to get views.
You can start learning online marketing in places like Skillshare or even YouTube to familiarize yourself with things like the customer journey, the analytics and the different marketing streams. Once you’re ready, start with small brands to slowly build your portfolio and reputation.
8. Retail Arbitrage
Retail arbitrage is a straightforward business model that includes buying products from big box stores at a discount and then reselling them at places like Ebay or Amazon with a markup. It’s a great business model for someone looking to get started with very little cash and although there are nuances to the business model, it’s attainable for everyone. To learn more about it, you can check out this guide on Retail Arbitrage that explores the business model in-depth.
7 Online Business Startup Ideas
Being your own boss is great, but owning your own business is even better. Here are a few ideas of things you can sell and services you can provide as a startup in 2020:
1. Reusable bags
More than a dozen nations have banned the use of plastic bags. That’s why more and more people are starting to look into reusable bags as an option.
You can develop an eco-friendly brand and start selling canvas bags. To sell them, you can make your own designs and upload them to Printful to let them handle the production as you make your own Shopify or Etsy store.
You can also start a dropshipping business finding and reselling bags produced elsewhere.
The best part? You’ll be helping the environment!
2. VR Arcade
VR arcades are just starting to show up and, although the technology isn’t perfect yet, it will keep evolving.
Virtual reality is a fun, futuristic idea that we will definitely start to see everywhere and, although the investment is a bit steep, it can definitely pay off.
3. 3D Printing and Designing
3D printing started from a very niche and expensive endeavor to a revolutionary technology useful for many areas. Few people can resist seeing their idea modeled, developed, printed and shipped to them as a fully finished piece.
Start by learning how to model and getting a couple of cheap 3d printers. You can start offering your services and reinvest the money in bigger, better and more expensive printers.
Develop a good online presence and all you’ll need to do is to print the pieces and send them to their address. With the right approach, you can give a worldwide service!
4. Mobile Pet Grooming
People are buying and adopting pets more than ever. However, bathing and grooming a dog or a cat is a tiresome task and not a lot of people have the time to drop their pets somewhere and pick them up later. A lot of people would prefer being able to see how their pets are being treated too.
The solution? Mobile pet grooming. With a proper website and a fairly good social media presence, you’ll be able to start generating money while keeping people’s pets groomed and pretty.
5. Podcast Networks
Fewer and fewer people are listening to the radio because of all the variety of podcasts online. Many podcasters create an audience but don’t have the time or resources to handle their sponsorship options.
You can create a podcast network to let the podcasters produce the content while you negotiate with sponsors and find new ones. Most networks only charge a percentage of the profit and, if you have enough podcasts, you can make more through percentages than several podcasts combined!
6. Raw dog food
Everyone wants what’s best for their pets. Since cheap dog food is so low quality, people are turning to raw dog food as an alternative.
With a growing market comes a growing business. You can start finding a manufacturer that already produces raw dog food and can produce what you’re looking for. Develop food for specific needs, like allergies and weight, and start growing your presence.
Pay very close attention to your ingredients and make sure you’re offering the best value.
7. Carpet Cleaning
Carpets and rugs have always had a place in our homes. However, cleaning them isn’t always as simple as swiping the floor. They gather dust and the stains can be hard to remove.
You can take advantage of the rising online generation by creating a website where people can book appointments online to get their carpets cleaned.
If you can’t afford to buy the equipment right away, you can rent it and hire a small team to clean carpets as quickly as possible during the weekends. Once you make a profit you can transition your startup from a small side job into a full-time business.
7 App Startup Ideas
You might think that apps are a thing of 2010 but you’re miles out. Make money with free apps can be still a great idea if you work on the right project.
1. Meditation App
Lately, we’ve been seeing a trend of meditation as a common practice. It seems like most people, from yoga enthusiasts to psychiatrists are starting to recommend it. However, meditation isn’t always easy.
You can capitalize on this need by creating an app developed exclusively for those starting to meditate to help them meditate for longer periods. All you need are soothing sounds and a timer!
2. Medical App
With the surge of neural networks and advanced machine learning, along with smartwatches that measure steps, temperature and heart rate, people are looking for medical advice in their own smartphones.
You can use this data to develop an app as simple as a reminder of which medicines to take when, to an advanced, integral app that monitors the user’s health 24/7.
You can help users organize their sleep patterns, remind them to take their steps, calculate their caloric intake and much more!
3. Video-editing app
With the dramatic increase in computing power in our smartphones, more people are looking to use them to edit their own videos for social media. After all, why would you want to send the video you took from your phone to your computer?
As long as you can make it responsive, attractive and easy to use, you can capitalize on this trend with a video editor app.
4. Pregnancy app
Pregnancy apps help visualize how the baby looks like, keep the mother informed on the baby’s development and answer common pregnancy questions.
Although your app may only be usable for up to nine months, you can expand it to help mothers take care of their newborn babies too!
5. Referral app
No one likes ads. However, things are different with referral apps. Referral apps come down to apps made to promote other apps. Users gain money to see those ads. It’s simple, and can be extremely profitable.
Swagbucks has paid over 350 million dollars in cash and prizes to its users. If you make a good referral app, people will download it just to see ads. Everybody wins!
6. Scanner app
Scanner apps allow you to scan a document directly with your phone and save it as a PDF or a JPEG. Although scanners are not expensive, nothing beats free! All you need is access to their camera and to develop a good stabilization software.
7. Scheduling App
Who still uses physical planners anymore? Scheduling, calendar and to-do list apps are simple yet very useful.
Help people replace their planners with a scheduling app that syncs with the rest of their apps, sets reminders and it’s easy to use.
Irrespective of what niche you choose, remember that people love stories, not facts. If your storytelling skills leave much to be desired, consider asking Supreme Dissertations for help.
Which one are you starting with?