2020 has been an eventful year in many aspects. Many businesses survived while many incurred losses. The pandemic has been a reality check for most business owners.
The most important lesson that all of us learned is that the world is going online, and we need to keep up with the pace. Hence, if you have had a business idea for a long time, you need to reevaluate it now. Will your business be able to survive in the post COVID world?
If you’re clueless about small business ideas that can be profitable in 2021, then worry not as we’ve got you covered. In this post, you’ll find some of the top small business ideas that have the potential to thrive in 2021. This post is a great place to get inspiration for your next small business idea.
1. Online Coaching
Many offline coaching business owners suffered losses this year. The ones who were quick to adapt to online coaching models saw a considerable boost in their business.
Nevertheless, there is a huge market for online coaching businesses in 2021. This is because online coaching can be easily accessed from anyone anywhere and thus the market size increases. And, it is easily scalable to huge numbers – something that wouldn’t have been that viable in the offline model.
Hence, if you have skills that you can teach others, then online coaching is definitely a small business idea that you should consider. You can start with one-on-one coaching and test the market. Then you can easily scale your business through online courses and group coaching.
eCommerce businesses had seen quite a boost during COVID times when online shopping became our only option. And eCommerce is predicted to grow in the upcoming years steadily. According to Statista, worldwide retail eCommerce sales are projected to grow to 6.54 trillion USD in 2022, which is massive!
Suppose you want to get rid of the unnecessary elements of eCommerce businesses, such as managing inventory and taking care of shipping. In that case, dropshipping is the best small business idea for you.
Using dropshipping, you wouldn’t have to worry about inventory management and shipping as these will be taken care of by third party companies. Any fulfilment service company will manage the inventory and deliver products to your customers’ doorsteps. All you gotta do is set up your store and advertise your products to the right people.
3. Digital Marketing Agency
The pandemic has lowered the value that traditional advertising and marketing previously had. Now, digital marketing has taken precedence for almost all companies out there. Hence, there is a huge market demand here.
Though you might feel that the competition is high here, the demand for digital marketing is rapidly growing. This is the best time to start your digital marketing agency. You can start on your own or with a couple of freelancers in your team. Once you start getting good results for a few clients, your business will blow up quickly.
4. Online Bookkeeping Service
Just like any other field, the tools and software for accountants have also evolved massively. So, if you are an accountant, then an online bookkeeping service is one of the best small business ideas for you.
The bookkeeping tech available today is pretty easy to master and helps you handle everything online. Hence, this business idea is a must-try for accountants.
5. Home Care Service
The population of seniors is steadily increasing as our life expectancies are growing. This has created a significant market demand for home care services for housebound aged people who are typically above the age of 75 or 80.
You can set up a website for home care services in your locality and hire people with healthcare backgrounds. If you market your site well, you’ll definitely see growth in your home care business.
6. Doorstep Delivery Business
Doorstep delivery is a no brainer business idea for 2021. With the pandemic taking over our lives, most people today have no other choice but to rely on doorstep delivery for day-to-day needs. Hence there is a huge demand here as well.
You can offer various types of doorstep delivery services ranging from groceries, pharmaceuticals, and any other daily essentials. You can even offer delivery of things from one household to another. This business idea has a high chance of profitability in 2021.
7. Box Subscription Business
Box subscriptions seem to be the next best thing, with many people raving about them all-around social media. Box subscriptions are nothing but recurring delivery of eCommerce products. These are usually a marketing strategy used by eCommerce brands used as a method to distribute their products.
You can start a box subscription business in many niches such as beauty products, books, pet products, and similar more. You can find a niche that has popular demand for these kinds of services and start a box subscription business in the same niche.
There you have it! Some amazing small business ideas that you can start and scale in 2021. All these ideas will be relevant in the post-COVID world, and thus you can definitely try your hand at these.
So, take inspiration from these and start working on your next small business idea for 2021.