5 Industries to Consider for Starting a Business in 2020

Starting your own business in 2020 is the most fulfilling achievement you can gift yourself. It can get confusing for you while you weigh your options on which industry you need to venture into.

Identify a gap in the industry trends and strategize on how you can cash on it. While you start your business in 2020, make sure you are passionate about it because you need the drive to keep pushing despite the risks and challenges on your way.

Starting a business

What are some of the potential successful businesses you can venture into in 2020? They include the following:

1. eCommerce Business

Demand for online shopping can be a potential space for you to venture into. People embrace online purchases and look for products or services to buy at the comfort of their home or office spaces. Starting an eCommerce business will require you to have a responsive website that is secure for your clients and easy to navigate. Make product and services descriptions as detailed as possible and offer precisely what you post. The last thing you need to do in any e-commerce venture is giving the wrong impression to clients because they will harshly rebuke you on-page reviews.

2. Make-up artist

Beauty is one aspect that both genders have also embraced and is a rich source of income for a potential entrepreneur. People want to look good when stepping out to go for an event, work, or photo-shoot. As a skilled makeup artist, whether self-taught or certified, you have the potential to start your own business and enjoy the high demands of the service. Makeup artist business doesn’t require quite a lot of capital for a start, but your skill should be your marketing niche. There are different types of makeup artist businesses that you can venture into, including cinematic, face and body painting, events makeovers, and influencers. As a makeup artist, you can also open up your cosmetic and beauty line once you learn how to do it correctly.

3. Self-storage industry

People are always looking for extra spaces to store items in privately and not at home. You can build self-storage units spacious enough to keep both large and small items at a monthly or lease fee and make some good money for yourself. Self-storage units for rent are quite different from warehouse space rental. In a self-storage unit, you are the only person who has access to the unit and is relatively smaller, unlike a warehouse. The charges are based on per sq rented, which means the larger the items store, the higher the pay.

4. Digital marketing

Marketing is an important factor for each business on the globe. It lets you know new ways to interact with your potential clients and understand them better. Today, companies are outsourcing the service since it’s cheaper and allows them to work with specialists in the service. You can, therefore, start a digital marketing agency and render your services to these brands. Some of the common sort services in digital marketing include SEO, email marketing, social media marketing, and pay-per-click.

5. Locksmith services

2020 has seen an increase in demand for specialized services. People are hiring companies and brands based on their specialties to get value for their money. With the perfect knowledge in lock repair, installations, and maintenance, you stand a chance to succeed. While rendering locksmith services, ensure you are available 24/7 all year round for emergency clients’ request in instances such as break-ins. Also, do not only focus on residential or commercial locks but also auto-locks.

Final thoughts

As you identify a business to start in 2020, get the required paperwork before you open up. Make sure your business is also legal per the states or countries’ regulations laid out. Embrace modern technology because it lets you cut on cost and is a huge potential for new investors. Technology helps almost every industry grow, and you certainly do not want to be left out.

Watch this space for updates in the Hacks category on Running Wolf’s Rant.

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Patrick Watt

I'm an Australian writer. I'm currently based in Chiang Mai. I've been researching and writing content for businesses and brands from all over the world since 2010. I'm a contributor to many sites like The Good Men Project and Tweak Your Biz. My interests also include management, start-ups, travel and self and human development.

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