10 Most Promising Business Opportunities in 2020

Most Promising Business Opportunities in 2020

Running a business needs proper planning. You must determine what business you want to run, then study the business opportunity. In addition, you also need to understand your ability to run it.

In this article, we will share 30+ business opportunities that promise good profit potential. Thus, you do not need to do your own research and can choose which is most suitable for you.

What Do You Need to Know about Business Opportunities?

Starting your own business is a wise choice. The reason, a personal business does promise lucrative profits. In fact, almost 54% of private businesses claim their incomes have increased.

In addition, as many as 26% of the business people want to get freedom in running their own business. Of course, with the aim to continue to build it for the better. However, this is certainly not as easy as turning the palm of the hand. To start a business that produces, there are a few tips you can try:

Follow Your Passion

Running a business in accordance with passion makes you not easily give up. The reason, you will really love the job. The various challenges that arise will you face calmly and focused.

Businesses that you run can depart from the things you like, like traveling, camping, and others. There have been many examples of successful businesses that depart from hobbies.

Go Online

To help your business grow rapidly, take advantage of technological sophistication. Yes, going online is no longer an option. Businesses that go online will reach a wider market without limited time and location.

The potential benefits are also quite large. In fact, e-commerce transactions in Indonesia this year alone reached IDR 13 trillion / month. Fantastic! Businesses that are supported by the presence of an online store website will be able to attract more potential customers. Especially if supported by convenience for consumers to find your business,

Recognize Competition

Having a good product does not just guarantee the success of your business. One factor is the presence of intense business competition. Often you have to “share the cake” with competitors and implement a fairly fierce price war strategy.

For business people, this condition is certainly less favorable. The solution to this is to do market research on the business opportunity you want to run. In addition, you can also look for a niche (business scope) that is still not much worked on by other business people.

List of the Most Promising Business Opportunities

The following is a list of the most promising new business opportunities in 2020, even for beginners. We choose this business opportunity based on the type of business, type of business (whether online or offline), and the required capital (small or medium).

  1. Creating Environmentally Friendly Creative Products

Creating useful products while maintaining the environment can be a good business opportunity. This is the example given by Deasy Esterina, Kreskros’s eco-friendly business owner when producing creative bags from plastic waste. This business is proven to be able to produce large profits. Its market share is also international.

Deasy started his business with a capital of IDR 10 million to buy various equipment. He markets his products through social media by building awareness of the use of environmentally friendly products. Then, through the Kreskros.com website, he continued to work on his business more seriously.

  1. Online Courses

Do you have expertise in a particular field? Starting an online course business is certainly a good choice. Building a regular course requires a special place and various other needs. Many preparations and business competitions are still quite fierce.

Online courses are different. Besides you can start the business from home, the types of expertise that can be offered also vary. The courses you commonly encounter are certainly related to foreign languages ​​as well as other school subjects. Actually not only that.

For example, Amimono. The website offers online knitting courses. Various knitting skills ranging from knitting, crochet to yubiami you can get when attending the classes offered. So, have you found an idea for your online course?

  1. Car Rental Business

Car rental business you may have met a lot. The initial capital needed is not small. So, you might not be so interested in trying it.

However, you can take inspiration from Aldi Febian Mahabian, a car rental businessman. This businessman story shows that to start a business, creativity is a key factor, not merely capital.

At that time as a rental car driver, he found a business opportunity that the public wanted a driver who was good-looking and broad-minded. Using Twitter, he began promoting “good looking driver rental services”.

Gradually, more and more clients. With a profit-sharing system, the business is growing. The income he receives every month can reach up to Rp78 million.

This car rental business is proven not only to be done offline but can be online as shown by drive.id.

  1. Website Creation Services

One promising business that can be run from home is a website creation service.

If you are a web developer, it never hurts to pursue this business. The required capital is not too large. As with other service businesses, the profit opportunity is quite large.

Not only from website creation services, but you can also get additional income from collaboration with other parties.

As you know, a website will need a domain and hosting to get online. So, you can also become a hosting and domain reseller. Interestingly, you can start the collaboration without capital and registration fees.

  1. Wedding Organizer

Every bride and groom wants her special moments to be perfect. Therefore, a wedding organizer is always needed to arrange a series of events.

From a business standpoint, this is certainly a good business opportunity.

Do not always assume that this business is no prospect as the number of wedding organizers increases. In fact, the industry value of the wedding business this year alone reached Rp500 trillion.

Once again, your creativity in recognizing markets is key. This is exemplified by Fitri Aulia Abdullah, who offers wedding organizer services with the concept of shar’i.

Is the capital required is very large? Not really. Fitri claimed to start the business without capital. Another wedding organizer named Yupitirani used IDR 3 million to start this business.

  1. Affiliate Marketing

Affiliate marketing allows you to earn money by promoting other parties’ products. This business opportunity is quite tempting. Because you can even start without capital.

The way it works is quite easy. If someone buys a product using the referral code that you provide, you will get a commission according to the agreed agreement.

The Indonesian Affiliate Program from Niagahoster is one example. You can get 70% commission from sales of hosting. Of course you must register as an affiliate first.

  1. Creating Crafts

Skills in processing an ingredient into a handicraft can be a promising business.

You also don’t have to start with big capital. With just a few hundred thousand, you can get started. Most importantly, perseverance and foresight to see business opportunities.

That’s the message that can be taken from I Nyoman Gede Sumaartha, a handicraft entrepreneur from Bali. Starting a business from selling other people’s products, he felt that the quality of the ingredients from his suppliers was of inferior quality. So, he took the initiative to create his own product to ensure customer satisfaction.

His products proved to be very popular and even exported to foreign countries. How much is the business turnover per month? Reached IDR 700 million.

You can also learn from the success of Yanis Gallery from Yogyakarta, which penetrated the export market by using the website as a promotional medium. Various awards were won thanks to their diligence in the business.

  1. Become a Dropshipper

Dropship also allows you to start a business without capital. However, make no mistake, his earning potential cannot be underestimated.

The dropship business model is similar to reselling. The results of the profits come from the price difference you receive from the buyer to buy the product from the seller. The difference, dropship does not require you to have your own warehouse. Because the seller will send goods to consumers.

Aprie Angeline is one of the successful people from the dropship business.

He started by selling clothing products that were not very successful. After switching to a reseller of beauty products, his income increased dramatically. He can get tens of millions in just a few months.

Until now, the drop ship business is still quite potent. Some platforms like YukDropship are starting to bloom offering this business collaboration.

  1. Selling Software

Information technology is developing rapidly and will not stop. For those of you who have the ability in the field of programming, you can try the software sales business.

There have been many successful figures in this business. You can be one of them.

Just mention the name Donny Kris Puriyono. This STIKI Malang graduate created a lot of software, from language laboratory software to school management. His business was successful enough to penetrate the export market. In fact, he managed to form his own IT company.

  1. Hair Cutting Business

Have you ever seen the program “The Cuts Indonesia” that aired on TV? An event to find the best hairdresser. The event showed that the art of hairstyling has become a lifestyle trend in today’s society.

For business people, this is a business opportunity that can be developed.

To start this business also does not require a large capital. For example, Nikasius Dirgahayu only needed Rp.2 million when building Nick The Barbershop. The capital is used to buy haircut equipment, supporting furniture and initial promotional costs.

The turnover obtained from the business has now reached more than Rp.15 million / month.

If you have a place at home that can be utilized, you don’t need to rent a shop. This means that this business can be a home-based business.

If it has developed, you can follow in the footsteps of Arfa Barber Shop and Toekang Tjoekoer to make it a franchise business. Of course, you are the franchisor.