If one of your goals for next year is to start your own business, but you don’t know which one to start yet, the first thing you should do to find the right one is to research what the profitable businesses might be by 2020.
Following our custom each year, in this article we present you with a list of 7 of the most profitable businesses we consider for 2020, taking into account the most important business trends and events during 2019 in most Spanish-speaking countries and the United States.
Trends for 2020
Before we start with our list, let’s see below what are the main trends expected for the next year in the Spanish-speaking market, including the United States, and therefore the trends we have taken as a basis to elaborate the list.
- A greater desire in people to look and feel good and, as a result, to go to the gym and spa, to take various beauty and relaxation treatments, and to look for new ways to combat stress.
- A greater desire in people to lead a healthy life and, as a consequence, to eat healthy foods and exercise.
- An increase in e-commerce (due, among other things, to the increase in the number of Internet users, the greater access people have to credit cards, and the popularization of prepaid cards that allow you to buy over the Internet by simulating a credit card).
- A greater concern among people for the care of the environment and, as a consequence, an increase in the consumption of ecological products.
- An increase in the consumption of technological products (due, among other things, to the large number of new technological products that are coming onto the market more and more frequently).
- An increase in the population of older adults (and less time for people to give them the necessary care and attention).
- A greater desire in people to get excited about their pets, to buy them all kinds of products and to provide them with all kinds of services that allow them to look and feel good.
Here are 7 profitable business ideas for 2020:
1. Look and feel good
A trend that has been going on for some years now, and that will surely continue in this 2019, is the search of people to look and feel good, and the proof of this is the increase of gyms and spas that we see in the streets, and of people that go to them, as well as the new beauty and relaxation treatments that are appearing more and more frequently in the market.
So we believe that the first profitable business for 2020 on our list will be one dedicated to selling products or providing services that allow people to look and feel good.
A business dedicated to providing the service of home hairdressing would take advantage of the trend that exists in people to look and feel good, but also the little time that women have today to go to a hairdresser or beauty salon.
In your business dedicated to provide the service of hairdressing at home, you would offer services of a traditional hairdresser or beauty salon such as haircutting, hairstyling, manicure, pedicure and makeup, but made in the customer’s home.
2. Sale of healthy food
A trend related to the desire in people to look and feel good, which has also been going on for some years now, and which is expected to gain strength in 2020, is the preference in people for healthy food, which does not necessarily imply dietary or vegetarian food, but could simply imply low-fat food and condiments.
A business of delivery of menus of healthy food to domicile where plates made with, for example, vegetables, cereals or vegetables are offered, would allow to take advantage of the tendency that exists in the people to consume healthy foods, but also the little time that nowadays have the people to cook or to leave to eat to a restaurant.
In order to set up a business dedicated to providing the service of delivering healthy food menus at home, you would need to set up your home kitchen in such a way that you can prepare the menus there, a telephone through which people can place their orders, one or more delivery vehicles, and staff to help you prepare the menus and/or deliver them.
3. E-commerce
Another trend that has been going on for some years now, but that has only just begun to gain momentum (probably due to the incentives that the big brands have been offering consumers to buy their products on the Internet, the greater access that people have to credit cards today, and the popularization of prepaid cards that allow you to buy over the Internet by simulating a credit card), is the increase of e-commerce in the Spanish-speaking market.
So we believe that the next profitable business for 2020 with good performance, will be one dedicated to e-commerce.
A low-cost online clothing store is a type of online store based on a business model that several brands are already successfully exploiting in the English-speaking market and that has not yet been fully exploited in the Spanish-speaking market. We also believe that it could be successful if the store offers, in addition to low prices, fashion, quality and variety.
To create an online store you could use some of the various programs that exist on the Internet to create and manage online stores such as Shopify and PrestaShop, while as for the clothes to be sold (which you would not have to have physically at the time of sale) you could send them to a clothing shop with your own brand and / or buy them in bulk from one or more suppliers or manufacturers.
4. Sale of organic products
Another trend that has been taking place for some years now and that will surely continue in 2020, is the concern for the care of the environment and, with it, the consumption of ecological products (products that do not harm the environment by using or being made of natural or recyclable inputs).
So we consider that the next profitable business for 2020 will be one dedicated to the sale of green products.
A business dedicated to the sale of organic food (food such as vegetables, fruits, meats and dairy products that are produced without the use of chemicals or additives) would not only take advantage of this trend that exists for the care of the environment, but also the trend that exists in people to consume healthy and nutritious food.
If you do not have enough capital to buy or rent a place where you can sell organic food, you could sell it on the Internet through an online store and thus, in addition to taking advantage of the trend in increasing e-commerce in the Spanish-speaking market, take advantage of all the benefits that this brings such as its low cost and the possibility it offers to work from home.
5. Sale of technological products
A quite marked trend in recent years and one that is becoming increasingly strong (probably due to the large number of new technological products coming onto the market more and more frequently) is the increase in consumption of technological products.
Therefore, we consider that the next profitable business for 2020 will be one dedicated to the sale of technological products.
The sale of drones (unmanned and remotely controlled aerial vehicles) would allow us to take advantage of the fashion that exists at the moment for the use of these products, which until recently were reserved for military uses, but that today anyone can use, and that we can find in a great variety of models, sizes and prices.
To set up a business dedicated to the sale of drones you would need a place where you can sell them, which would not have to be a large place but it would have to be well located; although if you do not have enough capital to buy or rent a place, you could sell the drones on the Internet through an online store or simply through a Facebook ‘Page’.
6. Services for the elderly
Due to technological advances in medicine that are allowing people to live longer, a trend that is growing year by year and will not stop in 2020, is the increase in the population of older people.
So we believe that the next profitable business for 2020 to perform well will be one dedicated to providing services for older adults or seniors.
A business dedicated to providing home care services for older adults would take advantage of the growing population of older adults, the limited time people have today to care for them and the desire that exists in people to provide them with the care and attention they deserve, but without having to leave home.
In your business dedicated to providing home care services for the elderly you would offer services typical of a shelter or a traditional care center such as assistance in feeding, personal hygiene, and taking and controlling pressure, but performed in the customer’s home.
7. Products and services for pets
Another trend that is happening right now and that is expected to become stronger in 2020 (probably due to the large number of new products and services for pets that are appearing in the market more and more often) is the desire in people to conceal their pets and provide them with all kinds of products and services.
So the last one that we consider as a profitable business for 2020 in our list, will be one dedicated to the sale of products or services for pets.
A business dedicated to the sale of pet accessories such as wooden houses, beds, leashes, collars, clothes, toys, food dispensers and electronic pet locators, would allow us to take advantage of the trend that exists in people to conceal their pets and buy them all kinds of products.
To set up a business dedicated to the sale of pet accessories, if you do not have enough capital to rent a place to sell the accessories, you could choose to sell them on the Internet through an online store, which in addition to allowing you to save on premises and products (since you would not have to have these physically at the time of sale), would allow you to take advantage of the growth in electronic commerce that is taking place in the Spanish-speaking market.