If you are a beginner in business, consider small projects because they are the ideas of the future. Choosing your future business, keep the following things in mind:
- projected industry growth;
- your capabilities;
- potential profit;
- the ability of the idea to be automated or transformed into passive income.
Pay attention to the ideas with a potential to grow and remember that the best time to launch a business is right now. So, let’s start our rating of the most powerful startup business ideas for 2019.
Number 22. Craft beer
This is a business project that can be implemented without any delay. The mini breweries and beer industry remain incredibly popular all over the world. The idea of producing craft beer is particularly attractive. This branch covers small enterprises that produce a small amount of beer that is supplied to local stores, bars and restaurants. In the USA, craft beer accounts for only 1% of the total market, so it’s obvious the market is not saturated enough. It makes sense in entering it in 2019, provided you define in advance the sales areas like recreation centers, clubs, pubs, restaurants, etc. If you like this business, why not approach it with some fresh ideas of your own?
This type of business needs $100000 of investment in case the equipment is purchased. However, it can be leased and this the way many small brewers start their performance on the market. The payback period is up to five years.
Number 21. Food truck
Food industry in the form of a truck with food is growing rapidly. In 2018, the total revenue generated by this activity exceeded a billion dollars. We have nothing to do with the worldwide sales, because such business is not extremely profitable. Trucks with food will not be in a great demand in big cities. Instead, this is a business for a small town. However, several such trucks can easily move from city to city, expanding the range of consumers. The estimated business profitability is about 200 thousand dollars per year.
Comparing to opening a restaurant, the trucks are much cheaper in servicing and they do not need a lot of capital to launch. On average, up to 30 thousand dollars are required to open such business. Also, this business has fewer failures when applying for permits. The percentage of refusals for small entrepreneurs willing to open their own restaurant varies from 60% to 90%, while only 10% of the entrepreneurs who are going to launch a food truck business fail. This idea occupies the 21st place, because the food industry is characterized by a tough competition and unfavorable municipal regulations in many cities.
Number 20. Remote employee management
Undoubtedly, qualified labor is becoming more and more valuable as a resource, so the industry serving this area would receive considerable profit. Due to the fact that not all managers have the opportunity to watch employees personally, the companies that offer remote monitoring services grow very rapidly. Organization of outsourcing of any kind of activity also is relevant in this regard.
The business can bring a profit of up to 500 thousand dollars per year. The investments may be minimal, depending on the availability of jobs. The average payback period varies from several months to two years.
Number 19. Manufacturing of electric bicycles
Advanced models equipped with an electric engine crowd out conventional bikes from the world market. By 2020, this market will amount to $50 million. A wisely organized business can be involved in the manufacturing and sales of electric bicycles and modification of traditional bikes.
Number 18. Translator and editor services
Although English still remains a language of international communication, the globalization needs make people from different countries find common grounds. In the next 15 years, the demand for translators will increase by 46%. So, the prospects for interpreters will be more promising than for all other professions.
If you have any new ideas regarding translation business or you plan to launch your own business in this area, the first thing you need to do is to find appropriate customers. Nevertheless, there is a certain risk here too. As information technologies are rapidly developing, perhaps one of the world’s giants (for example, Goggle, Mark Zuckerberg or Ilon Mask) will refine the translation system and the need for interpreters will disappear completely.