Do you live in Australia and searching for the most profitable business ideas here in this country? Regardless you are an Australian or an outsider, this article will also help you in finding out the best businesses and also understanding the key points in starting a business in Australia.
Australia is a business-friendly country. Additionally, it is the world’s sixth-largest country by total area. The country has the world’s 13th-largest economy and ninth-highest per capita income (IMF). The country generates its income from various sources including mining-related exports, telecommunications, banking, and manufacturing. The service sector of the economy accounts for about 70% of GDP. The sector includes tourism, education, and financial services.
Additionally, the country is a major exporter of agricultural products, particularly wheat and wool, minerals such as iron ore and gold, and energy in the forms of liquified natural gas and coal.
30 Small Business Ideas in Australia
Find below a list of profitable small business opportunities in Australia with low investment:
1. Start a Laundromat Business
According to IBIS World, the laundry and dry cleaning industry in Australia gross revenue of 2 $billion annually. The laundromat business can be an immensely profitable business in Australia. Check out our guide on how to start a laundromat business from home.
2. Airport Shuttle Service
Airport shuttle service is a very profitable business. The business is hugely management intensive. You can establish business tie-ups with hotel resorts, tour operators, and travel agencies to get clients.
Babysitting is an excellent approach to earning a little extra money. Additionally, you can start and operate the business on a home-based basis. Babysitters, especially capable and responsible ones, are in fantastic demand.
4. Catering Business
A catering business is a perfect opportunity for people who love to cook. It is a profitable business and ensures a lucrative margin for the owners. Additionally, you can start this business on a part-time basis too.
5. Start a Cleaning Business in Australia
A residential and office cleaning business is a profitable opportunity and has good income potential in Australia. You can start the business from home. A home-based cleaning business demands fewer infrastructure costs.
6. Affiliate Marketing
Affiliate marketing is a very popular way of earning money on the internet. However, to be successful in the affiliate marketing business one needs to understand what actually is affiliate marketing.
7. Digital eBook Library
If you are interested in starting a small eCommerce operation in Australia, then you can consider this business. Digital book library or online book renters generally provides the services of accessing digital products online.
8. Start a Digital Marketing Agency in Australia
Basically, a digital marketing agency provides different types of customized services to clients. And the work area caters to a wide range of segments. Generally, when you market a product or service using different digital technologies, it is called digital marketing.
9. eBay Selling
If you have knowledge about some specific products and you enjoy selling on the internet, then you can consider this business. Due to various reasons, eBay selling is a profitable business. This allows you to start this business from home.
10. Graphics Designing
The investment required to start a graphic designing business is in having a computer with good quality graphic design software. The increasing need for attractive marketing campaigns and promotions enhances the demand for graphic design services.
11. Greeting Card Making
Greeting cards are a billion-dollar industry now. People need it for plenty of reasons like birthdays, anniversaries, and as well as for business reasons. A greeting card-making business is a fun-making, feel-good business.
12. Homemade Cookie Business
Most people prefer cookies. And it is always better if anyone can purchase delicious and good quality cookies from home.
If you are a passionate cookie maker, starting a cookie business is just perfect for you.
13. Interior Designing
Interior designing is a perfect career option for Australians who are passionate about design, art, and home decoration. Any individual of any age can start this business from home.
14. Mobile Pet Zoo
This is an emerging business in Australia. As the name indicates the business is all about entertaining the kids with a moving zoo. However, the animals are pets. The business is very lucrative. However, it demands moderate capital investment and strategic planning.
15. Pet Photography
Pet photography is a business for pet lovers with a passion for photography. Running a pet photography operation from a home studio is a self-rewarding business. Pet photography is a fast-growing and super fun genre of photography.
16. Rental Business
Starting the leasing and renting business is definitely, a smart way where you can earn a huge profit. Rental businesses have long been popular money-making opportunities for Australians, mainly because although not everyone can afford to purchase luxury or recreational equipment, they can pay the rent.
17. Staffing Agency
Initiating a staffing agency is one of the best businesses you can start in Australia in the service sector. A staffing agency or job placement organization matches employers to employees.
18. Used Books Selling
Second-hand books are abundant. You can earn handsome money by selling those books. From a professional point of view, you can also do it by buying books at a cheaper rate and selling them at a higher rate.
19. Virtual Office Space Renting
A virtual office is a business location that only exists on the web. With this specialty, any business can be operated from any location by using technology and the internet. A virtual office provides significant financial savings to entrepreneurs compared to traditional space renting.
20. Start a Blog
There are many bloggers in Australia making millions out of blogging from the comfort of home. If you are looking for a legitimate home-based online way of earning good money, it is worth considering starting a blog.
21. Network Business
Network business is a more popular business model among Australians and is certainly one of the most profitable business ideas in Australia that can be started from home. If you love meeting people, a network business can make you a millionaire in a short span of time.
22. AgriBusiness in Australia
The market size of agri-related businesses in Australia is estimated to be $2.81 billion. According to experts, some of the industry sectors that are projected to grow are the following:
- Fruit and vegetables
- Meat, livestock, and fish
- Dairy products
- Poultry and eggs
- Grains and cereals
- Fibers and other crops
- Farm inputs and support
23. Construction Business in Australia
Construction is one of the fastest-growing business sectors in Australia. If you have sufficient backup funding, starting a construction company in Australia will fetch you huge returns.
24. Tourism Business in Australia
Australia is famous for its exquisite tourist destinations. Tourists from all across the world visit the country to have a glimpse of mind-blowing natural beauty. If you are the one having some experience and enjoy traveling around, starting a travel & tourism business in Australia can be hugely profitable.
25. Recycling Business
Any individual can earn handsome money from the recycling business. The magnitude of garbage that we produce is increasing day by day at a disturbing rate. To start any recycling business, one needs to have a good knowledge of where to sell the recycled products and most importantly, where you obtain the goods for recycling.
26. Smart Home Developer
Smart homes are something are going to see everywhere in most cities in Australia.Brisbane.
If you have experience or a passion for construction, this would be a great company to start. Smart Home technology definitely solves problems, also might solve yours too.
27. Import/ Export Business
There are some really cool craft items you can find around the world for really low prices. You can import them and sell those products at a higher price to the domestic audience.
28. Elderly Help
There is a good number of older people in Australia. They need various medical services like physiotherapy, massage therapy, orthopedics, and much more. If you have the right skills, the elderly care business can fetch you good returns.
29. Organic meal delivery
If you love cooking, organic meal delivery can be a profitable business in Australia. You can prepare and deliver organic, gluten-free, fresh, and ready-to-eat meals directly to people’s doorsteps.
30. Pet Sitting Service
If you love animals, a pet-sitting business can be a much more lucrative business in Australia. There is a huge number of pet owners in the country who look for professional pet-sitting services for looking after their pets rather than going to kennels. You can take advantage of this demand and make good money.
How To Start a Business in Australia
First of all, if you are a foreigner, then you have to apply for the right Visa to start a business there. And after that, you have to obtain the necessary permissions and licenses from the Government departments.
Generally, you can apply for two different types of business visas in Australia. These are Business Innovation and Investment visas and Business Talent visas. However, the two different types of Visa permissions require different eligibility criteria.
Things To Consider in Starting a Business in Australia
a) Conceive an Idea
In starting any business, the idea is the most crucial aspect. However, you have to finalize an idea that is perfect for you according to your skill, passion, and investment capacity.
b) Get Trained
Skill is another important aspect of starting a business for a beginner. You have to identify what skill you need to have in starting the business. If you already have that skill is fine. Otherwise, you must pursue some training.
c) Business Objective
As a startup entrepreneur, you must have a clear conception of why you are starting the business. Additionally, what you want to achieve in the near future.
d) Your Weakness & Threats
This is another essential thing you must identify in starting the business. Additionally, you must go for the SWOT analysis of the products or services that you are going to offer.
e) Create a Business Plan
Crafting a business plan is one of the most important actions in starting a business. In addition to that, your business plan must contain the financial and marketing plan too.
f) Business Registration
When your business plan is ready, you have to register your business. In Australia, there are four major types of business structures are available for registration. These are the sole trader, partnerships, trusts, and companies.
g) Apply for an Australian Business Number (ABN)
An Australian Business Number (ABN) is a unique 11-digit number that identifies your business to the government and community. Basically, the number is very beneficial for new entrepreneurs who are carrying business in Australia.
h) Business Name and Trademark Registration
Regardless you want to start a manufacturing, service, or retail business, you must have a business name. Additionally, you must register the name also. And when you register a business name, it will be connected to your Australian Business Number (ABN).
i) Create a Website
In creating a business website, first, you have to book a domain name. Basically, a domain name gives you an online identity or brand. If you want to buy a .com.au or .net.au web address you will need to be a commercial entity and have either an Australian Company Number (ACN) or Australian Business Number (ABN).
j) Identify Tax Liabilities
Finally, you have to identify the upcoming tax liabilities of your business. Actually, the taxes you must register for, depend on the type of business you’re starting. Therefore, it is advisable to talk to a local tax consultant before commencing the business.
Best Cities in Australia to Start a Business
Australia is one of the world’s easiest places to start and run a business as per the recent World Bank survey. The country now stands in 14th position with respect to doing business in the world. Find below the list of the best cities in Australia to start a business.
It is worthwhile to mention that around 98% of total businesses are either small or family-owned. Statistical information suggests Australia is one of the best places on the earth to start and run a business venture. We hope this list of lucrative business ideas in Australia will help you in taking the decision to start a small business in Australia.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their businesses.