Which of your top business ideas is most profitable to start? She asked me.
How it all started…
I understand that no matter how much you are earning, you will at some point seek to earn more.
And the best way is to start a business because it gives you:
- More freedom
- Better networks
- Bigger Opportunities
- Better income.
In this article, I present you with the top 10 business ideas in the world.
Top 10 Business Ideas You Can Start Today
1. Advertising/Media Agency
Starting an advertising agency is a top business idea you can start in Nigeria.
With more businesses wanting more visibility, the need for ad agencies increases.
You have seen those ad spots (Big banner and TV screens) by the roadside. Those are works of an advertising agency.
Don’t say traditional media is dead. No! It’s not dead and will not in any time soon.
Most companies rely on ad agencies to help create effective strategies.
Every business need to spread their products or services out there. They need to reach more people and attract new customers. Hence, the need for advertising agencies.
The ad agency idea is a profitable business if you have the experience it requires.
Some of your biggest clients will be businesses in the consumer foods industry.
What will set you apart in this type of business is your creativity and ad spot location.
- Have a good understanding of your clients’ business and their message styles.
- Be creative with your design, that you could pass a message with only pictures.
- Offer graphics, photo shopping, and video editing as extra services.
- Hire the service of a good copywriter to write catchy headlines and ad copy.
2. Financial Consultant
Live in the ocean and you will never lack water to drink.
Every one needs help managing their money especially the top class.
Yes, they do. People wants to avoid cost and focus on the important goals. So, they need someone to manage their finances.
Your major duty as a financial consultants or CEO of a financial firm is to help your clients reduce risk and maximize profits.
You want to help them build their financial portfolio with little to no attention from them.
And you do this by offering intelligent advises and choosing the best financial vehicles they can invest their money in.
As a financial consultants, people getting close to retirement will need you the most because they are getting to the prime of their career.
- You need to inspire confidence in the heart of your clients.
- Be creative in helping people plan their money and achieve their financial goals.
- Start a blog where you teach about investment opportunities for clients.
- A bachelor or master’s degree in finance related discipline will give you an edge.
3. Delivery Business
Delivery is one of the top business ideas with so much opportunities.
A Chinese proverb said, “The best time to plant a tree is 20 years ago. the second best time is now.”
There will never be a more perfect time to start your delivery business than now.
In this current age, people find it more appealing to buy goods online than work into stores.
People wants to save time, energy and money. And with the web, they can achieve these goals.
What does that tells you? There is a high demand for delivery business.
You need to fill the gap between a customers ordering and recipients receiving.
Even companies wants to send parcels to another in a different location. They need a delivery agent.
My friend, this year is a good year to start your own delivery services.
- You need to be extra careful with customers’ documents.
- When you deliver the parcels, notify clients of your delivery.
- You can start with one bike but multiples will help more.
- Focus on one type of delivery as there is a lots of diversity to it.
- Study and learn more on the business for your profiting.
4. Event Management
This business is growing faster than most
Any event needs lots of planning to make it successful whether big or small, corporate or casual, religious or circular.
So, it is your duty as an event planner to plan, organize resources and make supplies for events.
This business needs you to figure out things budgeting, staffing, and administrative duties.
The beauty about this business is that the major works comes in the beginning. Afterwards, you only need to tweak your designs according to the events.
Also, you should decide which type of business or organizations you wants to make your primary clients. This allows you focus your marketing activities.
If you have no previous knowledge, I recommend you sign for an event management training.
Afterward, you should work for an events’ planner, to understand the business more.
- You need to partner with manufacturers to ensure you are getting the best deals.
- Invest in getting wonderful pictures of your events to show potential clients.
- Partner with DJs, caterers, and more to make your event a success.
- You can also rent clothing materials, but will be best to have yours.
5. Sell Insurance Or Investment Plans
One of the top service business ideas with low investment
Have a love for insurance? Great idea. It’s a career path with many opportunities.
This is one of the business line that gives you the freedom you desire. You can choose to sell any products you so wants.
From medicare, life insurance, health insurance, auto insurance, and many other products.
But among all these, I find the health insurance to sell more because it easy to convince clients about it.
Another fast way to succeed with this idea is to niche down to a certain type of products.
In this business, your approach is more important than your sales skills.
- You need to offer dedicated service to your clients.
- Work on your communication and personal skills.
- Help people see reasons they need insurance.
- Be ready to accept rejections from all kinds of people.
6. Start A Law Firm
This business is unique to law students.
There is a high level of unemployment in the country for law graduates.
The best you can do with your license is to start a law firm business with it.
Set yourself, create your client base, charge your price, and head for success.
Wait! Is it that easy? No. And I didn’t promise it will.
But not being easy does not remove the facts that it is a profitable business if you understand the model.
Below are some of the best models you can apply to make your law firm profitable
- Partnership: Partner with an existing law firm and earn income by billing their clients.
- Vendors: Make money by helping in-house counsel with legal work.
- Retail: This way, you earn money by charging fixed fee irrespective of outcome.
The below tips can also be of help:
- Make friends with top profiles in your community, telling them what you do.
- Get down payments before you begin work with a client.
- Consult with real estate companies where they pay you 5% of the transaction fee.
Coaching is one of the top business ideas for people who love helping people.
While there are many self-help guides, none can replace the feelings of having someone to talk to.
People want to share the intimate part of their life with someone they can trust.
These areas include health, relationship, career, mindset and more
As a counselor, it is best when you niche down to a specific area.
This way you know more about the subject and marketing becomes easy.
So, get ready to help clients deal with the challenges of everyday life.
- Work on your focus level, as most clients you will work with lack clarity on what is best for them.
- Verify if a candidate is ideal for you before the meeting. It helps you filter who you accept to avoid wasting time.
- Listen to clients’ problems enough to avoid assumptions before giving solution.
- Respect your client’s privacy by keeping their identities and problems a secret.
- Be mature enough to handle matters of emotions.
Here is a guide on how to start an online coaching business.
8. Pets Business
This business is uncommon to many.
It is hard to overlook the pet business if you have love for animals.
With the growing number of opportunities, starting a pet business could be the best for you.
And to the question, “if the pet business profitable?”.
Yes, it is. We can see this in the rising search of “pet store” on Google.
It shows owners are willing to invest in their pets.
Below are pet niches you can streamline yourself to for easy success.
- Pet sitting and food
- Homemade pet treats and clothes
- Dog walking, training and day care
- Pet supplies and products
- Pet grooming, and boarding.
Pets like dogs and cats need training based on the job they are to perform.
While their owners can do some home training with their pets, those are on a basic level.
A pet trainer can help with specialized training for the exact owner’s purpose.
- Present your service to owners, helping them see why their pets need your training.
- Have a good relationship with vet doctors as they meet with potential clients often.
- Sell pets and their feeds as an add-on service to your clients.
9. Interior Designing
Interior designing is also one of the top business ideas with less competition.
As people rent and build houses, they will need to make them beautiful.
If you like helping people get closer to their dream house, you can start this business.
Research tells us that people spend more in beautifying a building than they spend on the building structure itself.
As an interior designer, you will spend much in the early part of your business on marketing.
But once you have your first client base, they will keep calling for repeat work.
So, it is important you dress for success by putting your branding in place.
- You need to be current with the latest home fashions and accessories.
- Ensure you have great support teams, especially in areas of accounting.
- Don’t be quick to give quotations if you don’t have a full idea of the client needs.
- Work with builders, contractors, and event planners for referrals.
10. Music Studio
Starting a music school is one of the best entertainment business ideas
You don’t need a prophet to show you that the tech business and entertainment business is booming.
Music is life (as some will consider it). People are spending more in this industry to get out there.
You can position yourself that the blessings of the industry rubs on you.
And how do you do this?
Start a recording studio. You will surprise with the number of upcoming artist that need production.
Another means of making money to offer masterclass instrument trainings. People want to learn how to play one or two equipment.
So, if you have experience in the music industry, then, this business is for you.
- Understand your artist and know what they want.
- Be vast in music production: from old school to the latest.
- Be in touch with key figures in the entertainment industry for show slots.
- Sell or rent equipment to live bands, churches, events planner, and more.
Conclusion on Top 10 Business Ideas In The World
Back to the question…
Which of your top business ideas is most profitable to start?
None! The profitability depends on you.
No business can make you successful. It is you who makes the business successful.
Like every other entrepreneur you will still have concerns like:
- What business is the best?
- Where do I get customers?
But all these questions should not weigh you down. Your victory lies in confronting your fears.
It is not easy building a business from scratch, but working with a digital consultant can set you for success.