Everyone wants to experience financial independence. We all want to have enough time for ourselves and our family and earn enough money to live a good and comfortable life with our loved ones until we retire. One way to achieve this dream is to invest in stocks or start a business.
Of course, everything in life needs careful decision-making, as well. So before you take the plunge, read and learn what factors to consider in investing or starting a business. Once you are decided, you can finally look into investment options and business ideas.
In terms of business ideas, not all are created equal. Some are profitable, while some are not. So, it helps to pick the best business concepts if you want to be your own boss. To help you jumpstart your company, below are hot new business ideas to try in one of the most profitable continents in the world—Asia:
1. Solve every other business needs through online freelancing services.
For big companies, the Internet is a huge place to find individuals with exemplary skill sets that they need for their company. Finding those people, however, can be tedious, because they require time, money, and effort. So as one of your business ideas, why not consider helping these companies with their dilemma? Create a business with online freelancing services, like editorial, designing, writing, and more. With this business idea, make sure to provide low-cost yet quality services and offer full-time, part-time, and project positions for your staff.
2. Give people cheap yet fashionable OOTD (Outfit of the Day) options with thrift stores.
In most Asian countries, cheap yet good quality is what people usually search for. This is especially true when it comes to outfits, where affordable but fashionable pieces are a must. This is why a thrift shop is one of the big business ideas in the Philippines and its nearby countries. Thrift shops offer used and unique clothing that came from other countries and at very cheap prices. Keep in mind to include accessories, shoes, and bags to your thrift shop to add more variety to your store.
3. Sell the best items online through e-commerce services.
These days, it’s easy to sell items online. You can simply log in to your social media account and post details about the item that you want to sell. If you have many bulky items to sell, however, managing all the potential orders and items can get difficult.
Hence, providing e-commerce services to online sellers like these can prove to be a profitable business idea in 2020. For this business, offer services such as managing their social media accounts to brainstorming advertisement concepts for successful product promotion.
4. Let people experience alternative medicine.
Asian countries, like Japan and South Korea, are big fans of acupuncture and massage therapies. These alternative medical treatments can alleviate bodily aches and other medical conditions in the body. These make them a huge hit in Asia. Naturally, this also makes alternative medicine business one of the hot new business ideas venture into Asia. To make this service more profitable, apply for an alternative medicine certification.
5. Provide memorable events through an event planning business.
Events such as weddings and birthdays are fun, but they also take a lot of planning which can stress out the celebrants. These celebrants need to get their wedding, birthday, or any other party done without turning event planning into a disaster. This is why an event planning business may be one of the great business ideas that you should explore. From the invitations down to the event’s giveaways, make the best preparations to satisfy the celebrants of these once-in-a-lifetime events.
6. Make staycations fun through an AirBnb service.
In Asia, vacations need not be expensive nor far. It can be as simple as vacationers sharing food and stories with their friends and loved ones at home. This is the reason why a staycation is a favorite past-time among Asians. Take advantage of this favorite bonding activity by listing it as one of your business ideas that are worth a try. Set up rooms or houses as AirBnBs with different and fun themes, like minimalist or Bohemia-inspired decors. Don’t forget to add other features such as free home-cooked meals.
7. Ensure productivity for companies through a work management business.
Because of the Internet, there are many companies that offer work-at-home jobs. The dilemma is without any real supervision from their bosses, most individuals working at home may lack discipline.
In this digital age, a work management service is a good business for millennials to consider. This kind of business will help provide a virtual boss for different online companies and ensure productivity in their operations. To level up your business, consider adding online rewards or other notification alerts to your services.
8. Tidy up any shop with a good cleaning service.
Cleaning is a skill that might be overlooked as a good business venture. Apparently, establishments need cleaning services from almost everything. It can be as simple as having a clean and spotless floor or as complex as getting their air conditioners maintained monthly. For millennials, a good cleaning service can be one of the most profitable business ideas in 2020. Just remember to take note of other possible cleaning services that you can offer such as house cleaning, bathroom cleaning, waste management, and more.
9. Build a student’s skills with a tutoring business.
Not all students are smart. One way or another, they would need help to do well at school. While this may be a weakness to these students, you can help them improve these skills and see it as one of your best business ideas.
A tutoring business is a huge hit in Asian countries because parents want their children to be academically equipped. Make sure to provide tutoring in different subjects, like Math and Science, and even language tutorials, like English or Korean.
10. Strengthen other people’s financial goals through a financial service.
In this fast-paced world, people would want to grow their finances. Many people in Asian countries hope to be knowledgeable in investments and business ventures. You can help them achieve their financial goals by opening a financial business as one of your business ideas. Widen the scope of your financial services and extend these to people of all ages, from people in their 20s to people in their 60s and beyond.
All of these are good business ideas, but nothing beats your willingness to try these business ventures yourself. Pick a business that you’re actually interested in. After all, it would be difficult to push through the ups and downs if you got yourself into a business that you’re not interested in.