“Business opportunities are like buses, there’s always another one coming.”– Richard Branson
And Mr. Richard Branson is correct- business opportunities are indeed like buses, there is always another one around the corner. The only issue is, you need to know where to look for. Let’s be honest, if you can’t see business opportunities, then you won’t be able to utilize them.
But what if you want to form a startup business- where are the opportunities then?
Well, in all honesty, anything can be a startup business including but not limited to tailoring shops, food stalls, and cold stores. All of them are valid startups. The only issue is, a lot of these small-scale startup business ideas are somewhat outdated.
What are some of the trending and profitable startup ideas then? This is exactly what we will be discussing here. So without any further ado, let’s get started.
1) Digital Marketing
If you are new to the concept of digital marketing, it is basically just promoting, advertising, and getting engagement on any type of product or service on the internet. So basically it is marketing but done on the internet.
That being said, as Nepal is slowly progressing into the digital age, digital marketing has become one of the most viable businesses out there. People just use the internet more.
The best part about starting up a digital marketing company/business is that you can start this business with just a computer, some networking, and basic know-how of how to promote business. This makes digital marketing one of the cheapest startups out there.
2) E-commerce/Online Shopping
This startup business revolves around buying and selling products via the internet. The premise is rather simple for starting an e-commerce business.
The first thing that you need to do is survey the market to know the things that people buy off the internet. After you have collected adequate data, you then have to decide on the type of e-commerce you want to do.
You have three options here. The first option starting e-commerce similar to e-bay where you just link the buyer to the seller while charging a small commission. The next option is to become a wholesaler and sell the produces from the producers to consumers, like Amazon.
The next option is to deal with products from business to business. This type of e-commerce site works in a similar way to the first one we mention.
Once you do this, contact the seller and gain their approval for selling their products. After this, you have to set up an e-commerce website and promote the website. Once this is done, you can formally begin your e-commerce startup business. Unless you are opting for the second type of e-commerce, the first and the thirst type can be set up rather cheaply as long as you have good negotiating and networking skills.
For the second type of e-commerce site, you will need a warehouse.
Blogging in simple terms is just writing along on the web. But this is just the simple definition of blogging. If you are thinking of blogging as a startup business, then the context changes drastically.
When we are talking about blogging as a startup business, we are thinking about getting the audience to visit the blog and earn money from their visit. To do this, you naturally need to be someone who is able to write engaging articles. Along with this, if you are planning to make this a long-term business, you also need to think about how to monetize your blog as well.
There are a few ways to monetize your blogs among which enabling Adsense is the easiest one. Other than that you can apply for local ads as well or deal with a company to promote them through your blog.
This startup business idea is similar to Blogging. The only difference is the main method of expression. While blogging uses words and images to portray an idea provide information, vlogging uses video format to do this.
But that being said you should know that while the term “vlogging” technically means “video logging” the vlogging we are familiar with and the one that can be turned into a business revolves around traveling to different places and giving information about said places. The type of information that you give in a vlog depends entirely on you though. The method of monetizing a vlogging startup business is virtually the same as the one for blogging.
As we said, the only difference is the method of expression.
5) YouTube Channel
With Youtube being one of the primary sources of information and entertainment in this digital age, starting up a youtube channel is one of the most viable startup business ideas out there. All of us are familiar with youtube and we all know that you can earn a good amount of money on this platform.
The context of earning money on youtube is rather simple if you think about it – start a channel, get popular, enable monetization, get sponsorship, and don’t get copyright or community strikes. It can be a bit hard for you to start the monetization process but once this process starts, you can get a steady flow of income as long as you keep on producing quality content and avoid strikes.
6) Online Training
This is one of the most valid startup business options in the digital age, especially if you are someone who has adequate education and skills to guide others. All you need to do is choose a platform, promote yourself to get the seed customers and start training them through your chosen platform.
Since this is basically educating via online means, you can earn quite a decent amount if you do it well. One more benefit of online training is that you have full control over the programs, platform, and price. As long as you can satisfy your clients and be reasonable with price and platform, this is a great idea for a startup business that be started with literally just a laptop and an internet connection.
7) Maintenance Service
Getting off online for a while, let’s talk about repair services. So, things break – regardless of what they are. And as long as things break, there is a need for repair and maintenance services.
To start a maintenance service as a startup business, you first need to pick a product that you want to maintain. It can be anything from Vehicles, mobiles, electronic equipment to buildings. After you do this, then you can either set up a shop or take contracts depending on the product.
Just remember, as long as things are made, they will break, and as long as things break, repair and maintenance services will be required.
8) Thrift Store
For those who are unaware about what a thrift store is – as a lot of us are since this is a relatively new trend – it is basically a second-hand store. Thrift store resells used items at a lower price to those who are in need.
Now if you are wondering how they earn money, don’t worry you are not the only one. A thrift store can earn money in two major ways – by charging a certain percentage of commission with the seller or by buying used items cheaply and selling them at a slightly higher price.
Additionally if one is using a non-profit thrift store, they can ask for sponsorships or donations a swell.
9) Coaching/Tuition Centers
Coaching centers are among those startup businesses that have been tried and tested. You can see these businesses popping up rather frequently and the reason for this is because they work. As long as you have a team of qualified teachers and a space to teach some students, you can start this business.
You do have to keep in mind that while it is easy to start a coaching center but hard to keep it running. So you constantly need to market your coaching center and increase its goodwill.
10) Web Design and Web Development
We began with a startup business related to the Internet and we end with one as well. The premise of starting a web design and web development company is similar to Digital marketing. As long as you have adequate skills and a computer along with good negotiation skills, you can get your first client.
But that being said, the growth of this startup company will depend on you and your ability. If you can satisfy the need of your client well and spread goodwill while doing some promotions, you can easily thrive in this startup business.
The gist is that there are tons of opportunities for business in Nepal, especially in the digital platform. You can easily take a small aspect of everyday life and find a business opportunity there. And as they say, in this day and age, as long as there is an opportunity, there is a startup business.
Hope you found this helpful. If you have any suggestions for us, do let us know in the comments. And as always, thank you for reading till the end.