There is either a 9 to 5 job or a business lifestyle. The former assures you a monthly paycheck, a steady lifestyle; the latter is a riskier, curvier path of opportunities and threats. In this article, we will about the businesses are in high demand right now. However, you need a full-fledged plan based on market research data. This way you can acknowledge the potential market competition, the consumer base, and see if your idea is lucrative.
You can start any of these top 10 businesses that are in high demand right now:
1. Fulfillment by Amazon Sale
If you want to launch an on-demand business, one involving product sale, Fulfillment by Amazon (FBA) program is among the businesses that are in high demand right now. Did you know that more than 2 million people worldwide sell on Amazon?
FBA Sellers need not worry about inventory, marketing, packaging, shipping, return, and customer experience. That’s what Amazon does. Source your products, ship to the Amazon fulfillment centers, and wait until it’s live on the product listing. You can get payments once the sales are made.
2. Digital Marketing
Start an on-demand business with digital marketing. With E-commerce as the present-day business mantra, this cost-effective business is in high demand right now. Start helping businesses build their online reputation, optimize their website to show up on Google page #1, run ads to increase conversions, and get paid by them.
Digital marketing business marked a 4.2% growth in 2019 estimating a global ad spend of $605 billion in 2020. Mobile marketing advertisement was projected to exceed 30% of global ad spend in 2020, taking up a notch to the on-demand businesses list. If you’re into content marketing, web development, SEO, email marketing, or social marketing, then this could be the start.
3. Translation Services
With an estimated average growth of 1.5% annually, from 2015 to 2020, Translation services is one of the businesses that are in high demand now. It is a core operational part for multinational companies strengthening business ties throughout the globe.
If you are multilingual, you can start the Translation services business by clearing the online test and getting a certificate from a reputed organization. In the US, a professional translator makes about $18.15 per hour since it is in high demand nowadays. You can do translation work for industries like legal, medical, educational institutions, finance, travel, gaming, market research, etc.
Worried about minimal capital business ideas? Start the dropshipping business on Shopify. Don’t worry about storage space, rental, and other affiliated overheads. With an average annual CAGR of 28.8% from 2019 to 2025, Dropshipping is among the businesses that are in high demand now.
Profits reached over $4 billion with a 7% increase in revenue growth over the last decade. Dropshipping sellers have widespread earning opportunities. Market your own brand; sell your products to customers without worrying about packaging/shipping and start earning handsome profits.
5. Graphic Design
With an estimated average annual 3.1% industry growth, the graphic design business is in high demand right now. Nowadays, people love to see more visual content like infographics, pictorial, banners, brochures, posters, etc. So, take further courses to refine yourself, learn about the visualization concept, and its relevance in the commercial world. Corporates and proprietorships require visual communication to showcase their ideas in creative formats.
They use visual standards to attract consumers through digital platforms like Google Ads, Facebook, Twitter, LinkedIn, Pinterest, Slideshare, YouTube, etc. Graphic designers earn an average of $17.53 per hour. Hone your artistic skills, use Canva, Photoshop, or Pixlr, and launch the on-demand business of graphic designing.
6. Senior Care Services
Owing to the baby boomer generation born in the late 40s, analysis shows a projection of more than 83.7 million of the American population to reach age 65. They need support either for commute, managing household chores, healthcare, or for pet care, or house sitting, etc.
With the elderly demography rising, Senior care service businesses are in high demand right now. It has been in the on-demand businesses list since the 1960s. As of 2020, healthcare sector revenue from 2014 gives an estimated average CAGR of 8%. If you want to launch an on-demand business for seniors care then this is a good opportunity for you.
7. Freelance Copywriter
If you’re a walking encyclopedia, start an on-demand business, merging your words and business goals. Be it home-based or en route, your words can be a full-time opportunity. An average freelance copywriter earns $26.53 per hour.
While 88% of B2B marketers use content marketing as a strategy, 73% of the companies outsource copywriters for the same. With a focus on content quality, you will be among the businesses that are in high demand right now. You only need a writing platform, internet, and smart writing tools viz. SEO, keyword optimization, etc. to attract customers.
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8. Food Sales & Delivery
IBISWorld reveals a 6.8% growth from 2014 to 2019 in the food-truck business, making it among the top businesses that are in high demand right now. It generated annual revenue of $1billion nationwide.
From regional food service to a giant, patented truck concept, there are several brilliant examples to push this business idea among the on-demand businesses list. If you wish to launch an on-demand business with an idea enough to lure people and their taste buds, you better fuel your truck.
9. Online Coaching, Training & Courses
The online learning market is projected to be $325billion worth by 2025 and further projected to grow by $12.81billion in another 4 years. It is one of the businesses that are in high demand right now. Schools and Universities are relying predominantly to deliver tutorials, schooling, and vocational courses through digitization.
This highly scalable idea involves minimal investment, a great deal of comfort working from home, and stretching your hours flexibly. Another lucrative business option, if you wish to start an on-demand business right now.
10. Videography & Video Editing
If you are good with the camera, this might be the right stop for you. Among the businesses that are in high demand right now, videography certainly needs its limelight. YouTubers have grown otherworldly influencers on the youth. Nearly 88% and 76% of marketers have planned on using YouTube and Facebook in 2020.
If you want to start an on-demand business now, honing your video shooting skills, your dream is not far-fetched. You need technical knowledge to capture good quality videos including audio, lighting setup, and post-production equipment. Also, you need a website and resources to build your online business and spread the word.
These businesses are in high demand right now. Your ideas will be your profit-making foundation. With the above on-demand businesses list, you can start with a minimal budget in hand and be your own boss!
Have another on-demand business you know? Share your recommendations by leaving a comment below.