With the arrival of the new decade, your business ideas should also have new thinking. Looking at the changing technology, changing mindset, and emerging demands, new startups must have fresh thought and planning. Here in this article, we list the best future business ideas and opportunities that can fetch good profit returns.
The single most significant aspect that is revolutionizing businesses is the advent of technology. Most traditional business models are becoming defunct and obsolete. To be successful in any business activity, one can’t shy away from incorporating technology.
For example, even a few years back traditional manual printing business was a hugely profitable venture. Now it is almost finished. The Digital printing press has taken over. In every sector, we see these changes. For entrepreneurs to be successful in the coming years, entrepreneurs must have an open eye toward the latest technological developments and the business opportunities that crop up.
52 Future Business Ideas
1. Virtual Reality
Virtual reality is a fascinating area of future business, where you can go through a different level of experience with the help of just a pair of goggles and the right computer. If you are tech-savvy, you can create new games or software and do your business, as virtual reality is very much in demand today. The VR gaming market is set to reach $45.09 billion by 2027.
However, if you are not a software person, you can also do good business by starting your VR-related website, where you can give updates on new games and software.
2. Renewable Energy Solutions
The global renewable energy market is expected to reach $1.5 trillion by 2025. Renewable energy refers to energy derived from natural resources that are replenished naturally, such as sunlight, wind, rain, tides, waves, and geothermal heat.
You need to decide on a specific niche within the renewable energy sector. For instance, you might focus on solar panel installation, wind farm development, or biomass energy production. Specializing allows you to carve a niche market for your business.
3. Yoga Studio, Massage Therapist, Personal Trainer
More and more people have started relying on Yoga for their health and weight-related problems. If you are a trained Yoga expert, your future business can very well be centered around Yoga. If you have space, you can open a Yoga Studio. Or can be a personal Yoga trainer. There is a very good market for massage also. You can be a massage therapist. Social media can be a good publicity platform for you.
Learn More: How to Start a Yoga Studio Business
4. Ethical Business Consulting
Ethical entrepreneurship and management are a huge focus of concern for today and potentially profitable among future business ideas in the consulting industry in the days to come. The area of ethical business consulting is becoming wider day by day.
It’s not just about discrimination based on race, gender, sexuality, and religion and protecting employees and vendors from it– business owners and managers are also worried about other things like ethical product acquisition, social responsibility, and environmental awareness.
There are hundreds of potential customers waiting for an ethical business consultant for assistance. There are many areas for you to work in, and you can easily pick a specialty area of your operation.
5. Chatbot Agency
Chatbots are the future of the marketing business. A chatbot is a computer program designed to simulate conversation with human users, especially over the Internet. Companies now need them to have direct contact with their customers and clients. Not only that, but chatbot communications are also available around the clock.
Chatbot agency is among the most profitable tech-related future business ideas at present. You can learn to make them for companies with different short courses. You can launch it through Facebook Messenger and it works through Messenger and comments. It can process orders from Facebook and integrates with all main payment processing platforms. So, it is the future of business communications.
6. Website Rentals
Developing a website for clients is a common business. But, renting out a website is conceptually new as a business idea. As a web developer, you can create several websites at a time and rent out customized versions of them to local clients, who will pay you for development as well as for regular maintenance.
7. Subscription Box
The concept of a Subscription Box is a known one. You have seen them many times on Facebook, Instagram, or Pinterest. But you can think of items like perfumed candles, essential oil, or organic products which are in much demand now and create a new kind of subscription box in your future business idea. Or you can have a YouTube channel, where these items will be unboxed and reviewed.
8. Food Truck
The food truck is not a new concept, but the future business in food trucks lies in healthy fast food. With increasing health awareness and calorie consciousness among people, healthy snacks like oil-free food, healthy salads with quinoa or kale, whole grain wraps, or fresh smoothies have replaced oily high-calorie snacks and desserts.
Learn More: How To Start A Mobile Food Truck Business
9. Bookkeeping Services
If you are good at simple mathematics and have knowledge of accounting, you can keep this service on your business list. You have to be conversant with free-to-use online invoicing tools such as Sighted.com and online payment tools like Due.com. Some services you can offer include:
- Creating balance sheets
- Providing income statements
- Creating various monthly, quarterly, or annual financial reports.
Learn More: How To Start A Bookkeeping Business
10. Personal or Virtual Assistant
This is a good business idea and has a steady demand. You can work from home, or online. You need not work for the specific office time slot. Moreover, you have the liberty to choose your employer. You can get virtual assistant job assignments through portals like Upwork, Fiverr, Freelancer, etc.
11. Social Media Marketing
Starting a social media marketing business can be a great idea for future businesses. As we all know now, social media has grown into an inexpensive, vital marketing strategy for businesses of all sizes. Many enterprises are very keen to hire social media marketing experts. Becoming a social media marketing expert needs more experience than education.
You can do courses on it, but your acquaintance with social media and research is most important. You can do it from home, provided you have a computer and internet. As a social media marketing expert, you can offer a variety of services to your clients.
12. App Developer
If you have the thought, creativity, and knowledge, you can think of developing an application as a future business. People are becoming more and more dependent on apps, so the demand for new and sophisticated apps is on the rise. You can start your app development company at home.
You can work for different companies and develop an app for them. Or you can develop the app for the bigger market and launch it for a fee or free of cost, where you get revenues from the advertisers.
13. Website Developer
This is a business idea that will never go out of demand. You can learn the language of website creation through a customized course or online through portals like Codecademy.com and start your own web development company.
As a website developer, you can offer a host of services like creating and designing new websites, incorporating changes or additions to existing websites, maintaining websites, etc. But you have to have interest and creativity. As for your charges, it is better to go for a project-based payment, rather than hourly rates.
14. Internet Security Consultant
Internet security consultancy is a great business opportunity in the coming years, as security threats are increasing every day. It has a growing demand which will increase with time. But, you need a degree in IT and cybersecurity for that.
You can work as an Information Security Consultant, Computer Security Consultant, Database Security Consultant, or Network Security Consultant. You can start your consultancy from home. After gaining some experience, you can expand your business with bigger clients.
15. Telemedicine and Online Health Platforms
The COVID-19 pandemic has accelerated the adoption of online health services. The Telemedicine market is predicted to reach $185.66 billion by 2026. If you have experience in the medicine sector, it is worth considering starting an online medicine business.
16. Tax Consultant & Financial Advisor
This is a kind of business that has an all-time high demand. Every company, big or small pays for the preparation of their tax papers. So, if you are well-acquainted with the tax structure and the procedure, you can start as a freelancer and operate from home with your computer.
If you are a Certified Financial Planner (CFP) you can start your business as a financial advisor. As a freelancer, start with individual clients, and then, with experience you can expand to companies or start your own company.
17. Blogger or Vlogger
If you have a passion for anything, or a good knowledge about anything from fashion to sports, or politics to cooking, you can take up the idea of becoming a blogger or vlogger and consider it as a profitable future business. This platform will help you to spread your expertise to the world and get you money by offering advertising space and a review of products on your platform. You can do this from home at your convenience. You need a computer and a good camera.
Learn More: How to Start a Blog & Make Money
18. Website Flipping Business
As this concept is gradually gaining momentum, this can be a very promising business idea for you. Flipping a website means buying an already existing website, making value additions to it from both content and technical angles, and selling it at a higher price. If you have the appropriate web development skills, it is a very easy and cheap trade to explore.
You can operate from home with your system. However, you need to be able to identify websites that have the potential for improvement. Since the valuation of domain names is increasing greatly website flipping has become more financially accessible to clients compared to domain name investment.
If you know more than one language and have a flair for writing, then working as a professional translator can be your future business idea. It has a global demand; you can work from home and get contacts from online portals like Freelancer, Truelancer, Upwork, or Fiverr.
A translation business makes money by charging a fee for translating various types of documents. Depending on the length and complexity of the document, fees may be either by the hour or by the assignment.
Learn More: How to Start a Translation Agency Business
20. Editorial Services
If you are a creative writer by passion, you can start your business of editorial services. It needs very little investment and you can work from the comfort of your home. Almost all the online portals like Freelancer, Truelancer, Upwork, etc provide you with contacts. Under the editorial service, you can do a variety of jobs like Copywriting, Ghostwriting, Article and news writing, Web content writing, Proofreading, Editing, etc.
21. Online Photo Selling & Video Production
Are you a professional photographer? Or a passionate one? Then you can think of selling your photos online. You need a DSLR camera and a computer. Get yourself registered on online photo-sharing sites like GettyImages or Flickr.
Then you can set up your site from where you can sell your photos. You can also use your videography skills in your home-based business. You can create or edit music videos, make ad films, or sound clips. All of these are good-paying jobs.
22. Meal Planning
In this fast-moving life, planning meals for people of different age groups or professions can be your good future business idea. Busy people are often clueless about what to buy, what to cook and maintain a budget. As a result, they often end up eating out which is neither good for their health nor their budget.
For this business, you need to develop your website or blog, where you can plan shopping lists, recipes, and budget-friendly and easy-to-cook meals for your customers. For value, in addition, start planning for breakfast, lunch, and snacks.
You can also include special meals like Paleo, Vegetarian, Vegan, or other special types. Start with discounted rates. Social media publicity and word-of-mouth reports will make your business bigger.
23. Patient Advocacy Services
For people keen to help out senior citizens in times of medical emergency, this service is a very potential business idea for the future. You have to help them out with doctor’s appointments, hospitalization, checking the bills, a settlement with the insurance company, etc. All this you will do against a charge. You can set up an agency and arrange for membership fees, where you will have the cushion of money to start performing.
24. E-commerce Store
You may have good designing skills, or you can paint pictures very well or make high-class handicraft items. However, there is a budget constraint in setting up a store, hiring people, or doing the billing. Think of an eCommerce store as your future business. The global sustainable products market is estimated to reach $150 billion by 2025.
With online shopping becoming a part of life, you can et up your e-commerce store to display your items for sale. Make the publicity of the store through social media and share the link of your site with your profile. Once it is showcased properly, you will get a lot of customers.
25. Outsourcing Business
Industry pundits suggest more and more companies will hire freelance or contract-based employees in the coming years. The signs are already observed across the globe. Industries will see more competition in the future and sustain companies will have no other option but to outsource most of the jobs to part-timers and freelancers.
If you have good communication skills and network capacity, starting an outsourcing company surely is among the most profitable future business ideas for startups.
26. Sustainability Consultant
The concern about the protection of the environment and checking pollution has made the role of the sustainability consultant very significant. If you are qualified to take up this consultancy as your business, your future seems very promising. Companies big or small, are looking for new ways to do their part for the environment by implementing greener practices.
Unfortunately, many of the more eco-friendly options available today are very expensive. As a result, they need a consultant who can advise them on how they can change their process without sacrificing their bottom line. As consultants, your responsibility will be to integrate sustainability into business strategy and execution. Also to use sustainability to enhance market credibility.
27. Travel Planning, Tour Guide
With your organizational skills, you can make traveling easier and hassle-free for your customers. You can book flight tickets, rent a car, arrange for sightseeing or conduct tours, book hotels for your clients, and charge a consultancy for the service which most people cannot organize due to time constraints.
All these can be done from home, or online. Your good network and performance will be your strong publicity by word of mouth and social media. If you know your city well, you can work as a tour guide to give travelers a local flavor by organizing heritage walks, taxi rides, etc. The total package of tourism can earn you good money.
Learn More: How to Start Tour Guide Business
28. Event Planning
If you are a good organizer with innovative ideas, you can take up event planning as your future business. There are several corporate and social events taking place around the year. As an event planner, you have to take care and charge of all the aspects of the event from guests to transport, from venue to food, and from decoration to unique gift ideas.
You can operate from home, but you are required to supervise every aspect. It gives you a good income. You can have your website or depend on social media for personal contacts for business.
Learn More: How to Start a Party Planning Business
Your experience as a teacher or a good academic background can fetch you a good income by tutoring. You can teach online, through different portals available. Or you can teach children or elders at their homes. It has a high demand among students.
You can also work online to teach college students and write academic projects or help in their research projects as well. This job has the foremost condition of a sound academic foundation. The payment rate is quite good.
Learn More: How to Start a Successful Tutoring Business
30. Dog Walker/Trainer/Groomer
There are many places where people are pet-friendly but do not get time to take out their pets for a walk. If you are a pet lover, this is a good future business idea for you. You can take dogs for regular walks.
Apart from that, you provide caring services like grooming the dog, training them, or dog sitting. This job is quite good paying and your good performance will fetch you more clients. You can also start an agency for a greater number of clients.
31. Packing Services
If you have an eye for details, pack neatly and have patience, you can think of this as your future business idea. In today’s fast-moving world, families and companies are constantly on the move and need all their belongings with them, but don’t have the time.
Here is your role as a packer, who packs everything for the client. You have to note all the details and pack them with relevant stickers. This business can be started with a shoestring budget and you do not need an office. Use social media, flyers, and word-of-mouth publicity as your marketing tool.
32. Caregiving, Babysitting Services
You can start Caregiving as a business with a nominal budget and the time can also be flexible. But you need a professional degree for this and certification in health and safety measures as caring for the aged needs some specialization. As a caregiver you have to provide services like cleaning, washing, laundry, taking your patient out, dressing him/her, buying the essential things for them, etc.
With training, you can also work as a babysitter where the pay is very good. You can work as a nanny or tutor of the kid. Remember, compassion is the first and foremost condition of these services.
Learn More: How to Start a Babysitting Business
33. Bed and Breakfast Services
This is a very bright business idea, as many travelers now prefer this service. You just need a spare room in your apartment for this business. You can advertise your room through sites like Airbnb and earn by renting it. As the owner or landlord, you can offer bed, breakfast, and other services like other meals, city tours, or housekeeping services. This gives a good return.
Learn More: How to Open a Bed & Breakfast Business
34. Digital Media Conversio
This is the business idea of transferring the old into new media. If you have the technical knowledge, you can start the business of transferring old CDs and DVDs into computers. There are many such CDs and DVDs with rich content like music, movies, or old videos of archival value. So, digitization of these can retrieve some valuable resources.
You will get a steady client for this service and a good income. Offer your service to different social media and advertise through fliers.
35. Personal Driver or Taxi Services
If you like to drive and live in an urban area, you can start a personal driver service. Many business persons need drivers to go to and from work to make calls, schedule meetings, and generally work on the operational aspects of their companies during that time. You can work in your capacity.
If the demands are high, you can also set up an agency. If you own a car and a smartphone, you can work as an app cab driver like Uber. Any IoT( Internet of Things) related industry will see huge growth in the coming years. A report by the global management company McKinsey suggests that the coupling of digital and physical worlds can help in creating a revenue of $11.1 trillion a year by 2025.
36. Hairdressing or Makeup Artist Services
This is a good business idea for all time. If you have the training or know the technique and art, you can start from your home. Just make sure you comply with all your state’s requirements for opening a salon in your home. You could also offer other services like:
- Hair colouring
- Hair extensions
- Nail Care Services
37. Interior Designer
This is quite a prospective business idea for you, as both homeowners and business houses need interior designers. If you have formal training or a degree it’s good, but in this business, it is not essential. The essential part is that you have to do a lot of research at home and come up with several model designs for your clients.
You have to know the mental preferences of your clients, the owners of the rooms of a residential place, the nature of the business, or target clients in the case of a business house. Also, you need to know whether the place should be pet-friendly. This business is well-paid. Try to keep a signature style that speaks of you.
38. Electronics Repair Services
This is an age of electronic gadgets and devices. So, the repair of such gadgets can be a very good business for you. Every household has multiple devices and in case of a breakdown, they prefer a quick fix nearby, instead of sending them to the service center for many days. The common gadgets you have to repair are Appliances, Computers, Cameras, Phones, Speakers and musical equipment, Televisions, Gaming devices, etc.
39. Auto Repair Shop
You can start an auto repair shop from home if you have space and tools. On the other hand, if you don’t have space but have the tools, you could open a mobile auto repair shop where you go to the vehicle and do the repair work there. You can also start your car wash and detailing shop.
You don’t need to have any engineering skills or training, just a keen eye for detail and no problem getting your hands dirty. This is a very rewarding business that can become extremely profitable with the right promotion.
40. Lead Generation for Small Businesses
This is one of the most lucrative future business ideas for the coming decade. Lead generation in simple words means the process of creation of consumer interest or inquiry into products or services of a business.
Lead generation is the process of attracting leads (potential customers) with the hope of nurturing them throughout the buying process to help convince them about the offerings and then convert them into paying customers. One of the tools of lead generation is attracting customers to the company’s website by creating attractive and effective content.
This business can be done by you if you find a niche for you and do your research well on that industry and the lead. This is done mostly by consultants or freelancers and is an extremely paying business. You can take a short course in Lead Generation and learn the different techniques.
41. Boat & Helicopter Tourism
This is a profit-making business. However, you need a good amount of investment in it. Tourists around the world prefer a boat or helicopter ride. So, in this business, you offer the tourists a value addition as well as a unique experience. Investments are high, but the charges from the tourists are also high.
If you know about Robotics, this is your extremely potential business idea for the days to come. But there will always be ample opportunities for entrepreneurs that can take advantage of the situation. There are numerous applications for robots in our current world.
As a result, there are endless opportunities for potential robotics businesses. Robots can be used in cleaning, construction, entertainment, and even warfare. Therefore, if you understand robotics you are going to make a very comfortable profit margin. Robot repair, diagnostics, and maintenance are all zones with enormous potential.
43. Coworking Space
If you have experience as a remote worker, you know that now, there are several areas where remote workers outnumber office workers. These remote workers in many cases need a well-equipped space for working, and here you can grow your business by renting out a co-working space at an hourly rate. As the demand is growing with time, this is a good business opportunity. Space should have a good ambiance quiet atmosphere, a good network, and high-speed internet.
Drone services are a good business area for the future if you are technically sound. With time, the use of drones has become manifold. Drones are used in rescue operations, surveying land, agriculture, and security. Now, filmmakers are also using drones for better filmography. Both the government and private sectors use drones for various kinds of data collection.
There are a variety of models of drones so, you can do the business of manufacturing as well as servicing and earn good returns.
45. Stem Cell Therapy
The demand for and use of stem cell therapy has expanded to a great extent. This has given you the scope to put it on your future business list. The growing demand suggests that even without a medical or scientific background you can reap the growing income potential. You can start a stem cell bank or a testing lab or test the use of stem cells in different areas.
46. Wind Energy
You can start a wind power generation farm, as wind power is gaining more and more popularity as an alternate power source. In some cases, an entire town can run on wind power. This demand will only increase with time. So your business potential is very high. In many cases, the wind farm generates more energy than required. Then you can sell the excess energy to government agencies or corporations.
47. Online Currency Exchange
It is a lucrative business for you. There are several tutorial videos, online courses, and applications that offer step-by-step guides to becoming a currency trader. All you need are-
Technical skills, Fundamental analytical skills, a small amount of cash flow, and a phone, tablet, or computer. Locate yourself where travelers can be found and provide the service of exchanging the currency of one country for the currency of another, charging the consumer a small fee for the transaction.
In online currency exchanges, you trade one digital currency for another or sometimes cash out currencies for consumers. Do good market research before you start the business.
48. Vertical Farming
This is a modern concept and can be your ambitious future business. With the growth of the population, more emphasis on farming is being given. The global vertical farming market is expected to reach $12.04 billion by 2026. If you have an interest in farming, you can think of this futuristic business.
Here, instead of growing crops flat on the field, plants are stacked vertically above each other. This saves space, keeping the production volume the same or more. Many modern cities have already adopted this method of farming, where ecological balance is also maintained apart from growing crops.
49. Solar Power
Starting a business of solar power, or solar panels can be a very good business as the demand for this clean energy is already on the rise. Not only that, but the government also provides a lot of benefits to entrepreneurs working on solar panels. Moreover, your client base will be huge, from households to offices because this will cut their power bill. And you will also be able to help many entrepreneurs with this reasonable power supply.
50. Fundraising Consultancy Service
This can be a very good future business, as the non-profits are continuously in need of funds. If you have the marketing skills and the ability to research and utilize the results, you can go for it. Fundraising consultants also help in the search for human, material, technical, information, and other resources for their clients.
This business does not need much of an investment to start with. Only your movement cost will be covered by the client. As for payment, try not to go on commission on the funds you organized. Instead, go for a particular rate on an 8-hour daily basis.
51. Wellness App
The health and wellness sector is on a spree of upward growth. If you are a good software developer, you can devise a wellness app, which helps people in several ways. For example, calorie count, destressing means, or counseling features.
Today’s generation is fast-moving and faces a lot of problems that they can’t address due to the dearth of time. This kind of app will be of enormous help to them. Digital and social media advertising can help you get clients.
52. AI-Powered Personalized Marketing
More and more business organizations are using artificial intelligence technology in their marketing campaign. The AI in marketing market is projected to reach $40.09 billion by 2025. AI enables businesses to deliver personalized experiences, boosting customer engagement.
Frequently Asked Questions
Why should I explore future business ideas?
Exploring future business ideas allows you to stay ahead of trends, leverage emerging technologies, and position your business for long-term success. It provides opportunities to tap into evolving consumer needs and market demands.
How do I identify profitable future business ideas?
Research and market analysis are key. Look for trends in technology, sustainability, and changing consumer behaviors. Consider industries with growth potential and gaps that innovative businesses can fill.
What role does technology play in future business ideas?
Technology is a driving force in future business trends. Businesses that embrace and leverage technological advancements are better positioned to succeed. Stay informed about emerging technologies and their applications in various industries.
How can I secure funding for a future-oriented business idea?
Funding options include traditional loans, investors, venture capital, and government grants. Craft a compelling business plan highlighting the future viability and profitability of your idea to attract potential investors.
What are some challenges I might face with future business ideas?
Challenges may include rapid technological changes, market uncertainties, and initial scepticism. Stay adaptable, conduct thorough market research, and be prepared to pivot your strategy based on evolving trends.
How can I ensure my future business idea is sustainable?
Consider the long-term impact of your business on the environment, society, and economy. Embrace sustainable practices, ethical business models, and social responsibility to ensure your business remains viable and socially responsible.
Are there industries that are particularly promising for the future?
Industries such as renewable energy, technology, healthcare, and sustainable products show promise for the future. However, the key is to identify niche opportunities within these industries that align with emerging trends.
How do I stay updated on future business trends?
Regularly engage in market research, follow industry publications, attend conferences, and network with professionals in various sectors. Stay curious and open-minded to new ideas and innovations.
Can I start a future-oriented business on a small scale?
Yes, many future business ideas can be started on a small scale. Consider niche markets, innovative solutions, and scalable models that allow you to test the viability of your idea before scaling up.
Are there support networks for entrepreneurs exploring future business ideas?
Yes, various organizations, incubators, and networking groups support entrepreneurs working on future-oriented projects. Explore local entrepreneurial ecosystems and online communities to connect with like-minded individuals and access resources.
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.