Best Small Business Ideas for 2020

October 2, 2020

Are you tired of working for someone else and you feel like you’re ready to become your own boss? You always dreamed of starting something on your own, but you lack some great small business ideas? A great idea is half a job, so you need to carefully pick where to invest your time, money, and nerves. Luckily, we have more than a few that will hopefully help you narrow down your choice.

Are you creative, good at maths, practical, artsy, or a bit of everything? Sometimes, we’re lucky enough to get to work with something we always wanted. Yet, sometimes we find out we’re good at something we didn’t study for, or never planned to do. Life is unpredictable, and there are so many new small business ideas that pop up every day, and who knows, some of them might be worth the risk. We can’t tell you which one is the right for you, but we can show you some of the best small business ideas in 2020, and leave it up to you to choose one or get inspired by some of them.

What Is the Best Business for Beginners? Working From Home Vs. Running a Brick-and-Mortar Service

Whether you’re a recent grad or someone who’s never tried to run a company, you’re up for an exciting journey. Although this might seem scary at first and there will probably be a lot of times when you’ll question your decision, in the end, it is all worth it, because there’s nothing better than working for yourself and slowly but surely building your small empire.

If you ever had a dilemma on whether or not you can work from home, 2020 showed us that almost anyone could do it. And this can be very beneficial for beginners who don’t have enough to invest in a brick-and-mortar shop or can entirely run their businesses from their living room.

If you don’t have any previous experience and you’re open to pretty much everything, you should first know your financial possibilities. The last thing you need is to jump into something you can’t support financially. Besides, you should get familiar with a few things, so if you don’t know what is a merchant account or how setting up a merchant account works, get familiar with it and carefully pick your merchant processing company.

Best Small Businesses to Start as a Beginner Entrepreneur From Home

Here are a few business ideas to start from home. They don’t require significant financial investment, only a bit of skill and creativity, time management, and maybe an understanding of e-commerce payment options. However, even if you don’t have any previous knowledge or experience, these are all the things that you can get familiar with through various online courses and get to know the basics. Enough to check if it fits you and whether you should continue improving your skills in that field. Here are some options:

  • Virtual assistant
  • Blogger
  • Dropshipping
  • Online tutoring
  • Running an Etsy shop
  • Web designer
  • Graphic designer
  • Digital marketing
  • Social media manager
  • Copywriter or content writer.

What Is the Best Business to Start in 2020? 10 Ideas for a Small Business Venture

2020 is a specific and very unpredictable year. However, that doesn’t mean that this is a bad time to start a smaller company. Due to the worldwide crisis caused by the novel Coronavirus, many companies were shut down completely, while others bloomed. Since smaller firms are more fragile, the economic impact of Covid19 can be devastating for many, which is why you have to carefully decide on what is the best small business to start in 2020. There are no safe solutions, only smart ones, so choose wisely.

#1. Home Cleaning Service

It seems that it was never more important to have a clean and virus-proof house, so cleaning and similar services might be on the rise. Although many assume that, for the same reasons, people won’t let strangers in their homes so easily, they are more than welcome if they come to clean, trust us. So if you have a bit of OCD and you like everything sparkling clean, this could be the right time to show your skills or hire others to do it.

#2. Babysitting and Child Care Services

If you’re someone who’s good with kids, you probably wouldn’t mind turning it into your job, right? This is something you can do from your home or go to the family’s home. If you have a friend or a sibling who’s also good with children, you can offer your services together.

#3. Personal Errand Services

This is also something that became more popular recently since there are people who don’t mind paying someone else to go shop groceries, pick up clothes from dry cleaning, or bring food, and so on. You should have some type of vehicle, at least a bike or a scooter, so you can quickly execute every task and go around town faster.

#4. Online Digital Courses

Is there something you’re particularly good at? Whether it is cooking, yoga, maths, foreign language, topics such as explaining how credit card processing works, or what are merchant services, you can film a brief course on it. And sell it, of course. Check out websites such as Udemy or Fiverr, and get familiar with how this works.

#5. Print-on-Demand Posters, Shirts, and Prints

Framed prints and posters are a huge trend right now in interior design, so you can’t go wrong with this, and if you include shirts, you got the whole package. Check the costs of professional printers and get things going because this is one of the easiest small businesses to start.

#6. Become an Owner of a Pet Business

You can hardly go wrong if you offer any pet-related products. As long as they are cute, their owners will keep spending their money. Whether you offer grooming or walking, sell fashionable pet accessories, clothes, and foods, it is all very profitable. All you need is some free marketing, perhaps a giveaway or a cash discount program, something to attract first clients, and you’re set to a good start.

#7. Become a Makeup Artist

The makeup industry is growing and is showing no intention to stop, so if you’re a makeup junkie jump on that wagon while there’s still some room. You would be surprised to find out how much people are willing to pay for makeup that they will wash away a few hours later. Sign up for an additional professional course to get a certificate, or practice with the help of Youtube tutorials, because this is a job that you can work from house, tiny studio, or visit your clients per demand.

#8. Food Delivery Service

This is another type of service that recently became so popular because of its convenience. People don’t want to waste their time on cooking when they can order a home-cooked meal that can be delivered to their doorstep. If your specialty are sweets, Chinese or Mexican foods, why not turn it into one of the best small business startups? In the beginning, you might achieve to prep the food and deliver, but in the ideal case scenario, you’ll need a partner.

#9. Yoga Studio and Free Online Classes

We all live in stressful times, and yoga seems to be the best way to alleviate that stress. So if you’re a yoga aficionado, now is your time to shine. You can start by filming a few free videos and upload them on Youtube, and it will do free marketing for your studio 24/7. You can also organize online classes that are paid once you gather enough following.

#10. Bicycle Repair Shop

Although bikes are a seasonal thing in many parts of the country, you can still get the best out of it and turn your shop into bike storage for people who don’t have that extra space to store their bikes. The sale of bicycles increased significantly during the pandemic. So clearly, sooner or later, some of them will need repair, tune-up, or a tire change.

What Is the Easiest Business?

There’s not an easy answer to this question, but perhaps the right answer could be that cliche: choose a job you love, and you’ll never have to work a day in your life. What’s easy for one person can be extremely hard for someone else. Maybe you always dreamed of running a restaurant, but you realize you don’t have a clue on restaurant credit card processing, free POS system, or what does PCI mean.

Not picking the best credit card processing company for small businesses at the very beginning is one of the common mistakes business owners make, so there’s a lot of things that could easily turn something that seemed so easy into something so complicated and nerve-wracking. Starting a business is easy when you thoroughly researched the market, prepared a financial plan, and a backup plan, you know how to read a merchant statement, and you’ve managed to get the best merchant service rates.

What are Some of the Most Successful Small Businesses?

If you’re looking for a safe option, something that may not be so revolutionary or trendy, but is necessary, like services that everyone has to use sooner or later, we curated for you a list of business ideas that can’t fail:

  • Auto repair
  • Food trucks
  • Car wash
  • Electronics repair
  • Language courses
  • Bookkeeping
  • Graphic design
  • Hairdresser services.

Tips for Choosing the Best Small Business Ideas

Do you know how changes in Square payment fees affect small businesses? Have you already considered some of the best PayPal alternatives? Payments are a big part of this story because the main reason why you’re looking at some of the best small business ideas is that you want to earn some money. And that’s fine. However, when trying to settle down for just one, you shouldn’t just focus on the profit, at least at first. You need to determine the type of business you want to open, and then pick a corresponding payment solution, acquiring bank and issuing bank. Here are the things to take into consideration when browsing through various inspiring resources:

  • Take some time to test everything and learn on the go
  • Consider your skills and experience
  • Consider getting financial consulting
  • How passionate are you about this idea
  • How does this job fit your lifestyle
  • Focus on a niche, and then slowly expand a business
  • Consider all the pros and cons
  • Would you spend your money on it
  • Learn from your mistakes.

What Business Suits You? Design Your Job

We hope we managed to help you narrow down your choice or pick your future dream job. If it happens, you tried, and it failed, don’t give up. You can always try again, with the same idea or another one. Why not? You should design a job and a career you’d love, so don’t be afraid to follow your entrepreneur’s dream and find a way to achieve it. Don’t stress about merchant services or credit card processing, because with the right merchant service provider by your side, there’s nothing you should worry about.

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