Owning a business is everybody’s dream and this is probably the best time to accomplish it. COVID took a huge hit on our economy and now when things are finally moving back to normal, starting up or revamping your business is a great option for everyone. However, no matter which business you want to start, it will require a financial investment. You can either invest in it yourself or find an investor for your business. How much money you will need to kick off your business depends upon the type of business you are starting, some small businesses can be started with thousand dollars but if you have more budget, the options expand.
If you have 100K and want to invest them in a business to get some return then you must definitely be looking for some ideas. Before you open up a business you want to make sure that you have some knowledge and interest in the field you are going out in. You also have to know what types of businesses are performing best right now and which ones you should steer clear of. We have compiled a list of the best businesses that can be started with 100k to help you choose the most suitable option.
1. Food Trucks:
One sector that never goes out of business is the food one. Within the past few years, food truck businesses have seen a significant boost and according to a Grand View Research Report in 2021, it is expected to grow to $6.6 billion by 2028. Opening up a food truck requires less than half the cost of opening up a restaurant and it comes along with mobility. If you are operating in a place where you have limited sales, you can move your truck elsewhere just like that. The revenue potential is also high if you can come up with a distinctive menu.
You will also have food business insurance and your own set of safety compliance standards. You can start up this business in any city and it is even trending in big cities like Washington, San Francisco, and Boston.
2. Digital Marketing Agency:
Digital marketing is on the rise and it has already taken over traditional marketing in a lot of ways. Be it a small business or a big one, everybody is looking to expand their reach and be visible to more customers. This is why the demand for digital marketing specialists and consultants is really high in the market right now. The digital marketing sector is also really wide and full of various niches.
Do proper research and assess your skills before you start a business in digital marketing. Make sure that you are offering services to clients that are different and unique from your competitors in some way or another as this will help you reach out to a bigger audience. Also, you can start your digital media agency with just one service and then expand it as you go.
3. Personal Trainers:
The fitness and training sector is projected to grow 39% more than any other sector in just the next 10 years. You can always join a gym and be an instructor but do you know you can also be a personal trainer? Being a personal trainer means you do not have to worry about paying for a location or dealing with all your clients at the same time. You can train each client at their location and give them your full, undivided attention. You will need to invest in some equipment and you are good to go.
You can also take group classes or organize fitness and training classes in a public park to start off your business. You will also need to invest in some self-branding and marketing to create awareness about your service and get customers.
4. Homecooked Food:
Another great business option that has a high demand nowadays is selling your homecooked food. Be it baked items like cakes and muffins or actual meals like chicken pasta or steak, people love ordering food that is home cooked. Of course, you will need to invest in all the ingredients or any extra utensils you may require. You will also have to invest in the packaging and most importantly, in advertising your business on digital media so that it reaches the mass audience.
You can even offer snacking options like fruit smoothies or salad and another great option is to offer keto-friendly diet food as people have become diet-conscious and are willing to spend on their health and fitness.
5. Event Organization and Planning:
If you have a few great ideas about planning unique events with a knack for designing then you can be an event planner. You can start the business by planning events for your friends, family, and acquaintances to build your portfolio and also get connections. An event organization is a business that will speak for itself, if you are able to organize an event that impresses people, they will eventually reach out to you for every event they have.
You will have to be creative, and patient, and use your imagination to the best if you want to be a good event planner and want to develop a business out of it. With time you can also move on towards having a team and opening up your entire event planning company that offers other event-related services like catering too.
Some other best-performing businesses include auto repair, cryptocurrency trading, web development, salons, small cafes, and eCommerce stores. These are some of the most profitable and successful businesses that require minimal financial investments but you can invest as much as you want to make the business even bigger. You will have to take help from experts and research a lot about any business before you start so that you know what you are getting into and what to expect. Remember whichever business you opt for, you will have to input great effort into it and give it all your time and attention so that it becomes successful.