Jeff - Mar 23, 2020

TOP 14 Self - Employed Business Ideas for 2020

Technology changes everything. We are part of a new technological era with digital businesses and as a consequence, digital economy.

Digitalization has made it easier to start different businesses, each year the economy of the individual rises more and more. And as we said before, because technology makes it possible people want to be fully in charge of their lives, from personal to professional matters, now more than ever.

 

digital economy - self employed business ideas

As a matter of fact, recent studies have shown than more than 64% of people aged 20 or more are planning to start their own business.

So there are two options: either they work to gain money in order to eventually have enough to start their own business or, they work to gain experience and learn the basics before starting a business of their own.

 

"A goal without a plan is just a wish." - Antoine de Saint-Exupery

 

All you need is to have the right business idea to succeed. The idea itself doesn't matter, it may be a hobby such as walking dogs around the block, but if you have a good business plan and a good implementation of it, you may as well come to have a pet walk center. 

Yes, we just said it may be anything but the three pillars to know if its good business idea are the following:

  1. It should be something you like doing
  2. It should be something you are good at
  3. It should be something people would spend money or time on.

That's it! Those three things and once identify them and are ready to do what it takes (long working hours, a lot of numbers and coffee) you will end up having something to share and be proud of.

 

Do you want your own Jeff franchise?

 

 

14 SELF-EMPLOYED BUSINESS IDEAS FOR YOU TO GET STARTED ON FOR 2020

 

Self - Employed Business Ideas
1. Solar and Inverter Sales and Installation

2. Franchising

3. Software Development
4. Online Coaching
5. Mobile Cases
6. Affiliate Marketing
7. Data Analysis
8. Skilled Trades
9. Meal Kit Sales and Delivery
10. Virtual Reality (VR)
11. Bike Sales, Service, and Rentals
12. Senior Care Services
13. Gourmet Coffee
14. Food Trucks


Need inspiration? Below you will find some of the best self-employed business ideas to have a good start for 2020.

 

1. Solar and Inverter Sales and Installation

solar panel - self employed business idea

Due to climate change and global warming, the world is trying to move away from fossil fuels and find other more sustainable and renewable energy solutions. Again, thanks to the advances in technology we are able to use solar power not only for heating, but also as a source of energy.

When the world is in changing-state, starting a business that offers solar power solutions is a great idea because it is a market with a lot of demand. There are many governments that offer benefits to companies that are developing or using clean energy products (e.g. tax breaks).

And what would be the benefits for the people or companies that use solar panels? Well, besides helping the planet, that also cuts down a lot on power bills.

Some say this is the business of the future!

 

2. Franchising

As stated before, these days everyone wants to be their own boss, have full control of their lives. But here's the interesting thing, being one's own-boss doesn't necessarily mean that the only way is starting a business from scratch.

Franchising is a great idea for people all ages, why? Because one of the hardest part is already stablished: The business plan.

When buying a franchise, the franchisor gives you the plan that works, he or she tells you how much your fixed costs will be, the break-even and when will you start having profit.

So you run the business and it is a business idea that you like but it wasn't your idea.  The tools to make it work are given to you, your big challenge is to make it work and last, to make it yours. Ok franchising, but it is so ambiguos!

Here are three successful franchises ideas you might be interested in:

Another good thing about franchising is that there are many options, many ideas to become self-employed. There is a franchise for everything or well, almost everything. So what? Are you ready to enter the franchising world?

 

3. Software Development 

Software development service is one of the most demanded services in the world. As technology evolves the scope of software developers gets brighter and brighter.

Guess who creates, tests, maintain and adapt softwares all around the globe? Yes, Software Developers.

The demand for software developers is expected to increase by 17% each year through 2023, and not only that, because of its demand, it is one of the best paid services.

Providing these solutions through a software company would definitely make a very profitable business.

 

 4. Online Coaching

coaching online - self employed business ideaWe are all connected even if we are not physically together. Over the past years, it has become easier to share knowledge through the Internet.

If you are an expert in the field or an enthusiast of something, then you'll make a great business out of it.

But its not only about you giving the lessons, it is also a good idea that while doing this you are able to build a community (through blogs, social media, etc..) share knowledge and even create podcasts or webinars with the community of people.

 

5. Mobile Cases

Yes, it sounds weird compared with the one above. But think about it, there are more that 2.5 billion people using smartphones around the world! And that number is growing faster than we can imagine.

Everyone has a smartphone and that is the world to every person. Everything is inside our phones, wallet, plane tickets, movie tickets, bank accounts, everything.

It is like our baby, and people want to take care of it right? Well, now is when we start playing.

Mobile cases shouldn't be boring and there are many ways to innovate and different, because now, mobiles are becoming our new fancy bags. Why would we use bags if we have mobiles which have everything in them? Think about it...

 

6. Affiliate Marketing

This is a quick self-employed business idea causing a buzz in marketing nowadays. One way to make passive money online is affiliate marketing.

According to research 38% of bloggers earn... wait for it...between $ 7,500 and $ 25,000 a month. With affiliate marketing!

Let's make it simple, when bloggers and influencer recommend services or products they earn a percentage of profits for each sale. This is  the definition of affiliate marketing.

Interesting right? Want to give it a try?

 

7. Data Analysis

These days everything (or almost everything) is data-centered. Businesses are making data-based decisions and metrics are starting to be all over the place.

This is why having a business focused on this industry, on the analysis is a great opportunity, because of its demand.

Analysts see data in a different way, they are practical and have technical knowledge (among other skills). So what better than having a business based on this high demand? 

 

8. Skilled Trades

It's unfortunate how many people believe that trades are poorly paid when actually skilled tradespeople are generally well paid.

Several studies state that in manufacturing alone, it's estimated that almost 53% of job openings left by baby boomers will go unfulfilled by 2028.

skilled trades - self employed business idea

These shortages will reach across many trades, and create a huge demand in trades such as:

  • Carpentry and general construction
  • Plumbing, pipefitting, and steamfitting
  • Electrical and electronic control systems
  • Heating, ventilation, air conditioning, and refrigeration 

A very interesting thing about skilled trades is that it suits 100% if you want to be self-employed.

Why?

  • High salaries and strong demand 
  • They may be operated as a home-based businesses
  • Compared to many businesses, startup capital costs are relatively low and cannot be automated to which gives future job security.

So, why do not take it as your next business opportunity...

 

9. Meal Kit Sales and Delivery

This is getting more and more trendy with this chaotic lifestyles because people don't have the time to shop and prepare healthy meals.

And that's not all! Researches state that the meal kit industry in the U.S. is expected to reach $11.6 billion in sales by 2022.

 

10. Virtual Reality (VR)

virtual reality - self employed business idea

This is the new thing! Virtual reality is the BOMB!

There's a huge leap forward in immersing the user in a realistic sensory experience. Hardware and software vendors are working hard to bring new VR products to the market in this rapid-growing industry. 

And if you want numbers...this market is expected to grow by 34.5% until 2025.

If you're wondering which  business would use VR here are some examples:

  • 3D movies: Movies are already being developed in 360-degree VR.
  • Gaming: VR is revolutionizing the gaming industry.
  • Team-building exercises: Shake up team building events with a group VR experience.
  • Social media VR interaction: Friends will be able to interact in a virtual online space.
  • Training: VR can inject a much higher degree of realism into training scenarios. Businesses such as UPS are launching new delivery driver training programs using VR.

 

11. Bike Sales, Service, and Rentals

bike rentals - self employed business idea

People care a lot about health and the environment, this is why bicycling has become the second most popular outdoor activity by frequency of participation. Think about it, anything that is healthy, eco-friendly and popular will be heavily promoted by the government. It is a great business!

Think about it ...you have everything:

We now have e-bikes, what will come next? Recent studies show that sales are expected to rise to over 40 million units by 2023. If you're passionate about cycling.. take a bet at this business.Government promotion and high demand... what else do you need? And it does not need to end in having traditional bikes, the beauty of it is that they can be innovated as well!

 

12. Senior Care Services

Senior care services continue to rank as one of the best business opportunities. The first baby boomers hit age 65 in 2011, and the entire baby boomer generation will have reached age 65 by 2030. 

Yes, because of technology and pharmaceuticals we are expected to live longer than previous generations, BUT according to researches senior people will spend more years in sickness.

It is sad that many people have no one to take care of them, and that's why we have care services. Because they have the infrastructure, the organization, and everything for a senior to be well taken - care of.

Its a great business and a good cause! Doing business by taking care of others.

 

13. Gourmet Coffee

EVERYBODY LOVES COFFEE! Ok no.. not everybody but it is true that many people take coffee as an excuse to meet someone. What we mean by this is that the "Let's go get a drink" its the same as "Let's go grab a cup of coffee". Coffee its not just coffee, its an experience.

Why does Starbucks work if not?

  • Being in a convenient location 
  • Atmosphere/ Experience. 
  • Serving high-quality beverages (specialty coffees) , served by properly good-attitude trained baristas.

 

14. Food Trucks

Food trucks are getting more and more popular and it doesn't look like they're going to stop. You don't need a good explanation from me. Only that it is a very trendy market and if you like food, its always a good idea. Food trucks never let people down.

food trucks - self employed business ideas

To wrap up...a good and successful business idea depends on the inspiration, the perfect business could even begin by being a hobby, but it is important to make sure that it is treated as a business, that it has the right research and planning; a right and well-written business plan to make it succeed.

 

Do you want your own Jeff franchise?

 

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Written by Jeff