Have you wondered what it would be like to ditch the 9-5 and work for yourself? If so, you might find yourself stuck on the question of what type of business to break into.
Unless you plan to manage an established franchise, you might want to consider any of the 12 best business ideas to start in 2020. This series will highlight a few of our favorite startup business ideas for 2020.
See which one speaks to you by following our countdown, starting with our personal choice for the #12 spot…
Care to Open a CBD Shop?
It’s tough to miss the increasing numbers of CBD shops popping up in neighborhoods and cities across the country. In fact, The Motley Fool estimates U.S. CBD Sales to Grow an Average of 107% Annually Through 2023. That’s some serious growth, which means plenty of opportunities to grow a business and even find a niche within this trending industry. For example, did you know that even catering trends for 2020 are projected to feature CBD?
Don’t mistake this trend for a fleeting craze though because its applications are wide-ranging, reaching diverse populations:
Moreover, sales of CBD are not just being driven by trendy millennials looking for the next big thing but cutting across demographics. The elderly are using it to treat chronic pain associated with various conditions, while younger consumers are more likely to be buying CBD to reduce anxiety and combat insomnia.
If you’re considering opening your own CBD shop, bear in mind that you needn’t take on the overhead associated with a brick and mortar location. A quick look across the pond indicates that, “…the majority of UK consumers prefer to purchase online. It also noted that “UK consumers are currently paying high prices for CBD products”, indicating compelling market opportunities for companies that effectively meet the needs and desires of the target market.”
Does this startup sound like a fit for you? Make sure you have the marketing strategy and support for a strong, targeted launch by getting in touch with our team.
Not feeling the CBD vibes?
Eyeing #11 — Full-time Farmer?
In case you missed it, we just kicked off a countdown of the 12 best startup business ideas of 2020. If a CBD shop isn’t your cup of tea, what about cultivating other types of plants?
Check out our pick for #11 best 2020 startup business idea: urban farming.
Advance Your Agricultural Ambitions
No, we’re not suggesting you become a farmer… well, not exactly. As sustainability continues to push industries into new directions, more creative employment opportunities are presented. For example, urban farming.
Inspired by the global question of how to feed a growing population on less land, due to increased urbanization, the opportunity to advance innovative farming methods and effectively grow food, even in a crowded, bustling metropolis is the challenge: “More specifically, this can mean the DIY growing of food (or even keeping of bees or farming of bugs!) in your own home, or the high-tech setups such as vertical farming and Controlled Environment Production (CEP).”
But is there really enough business opportunity for this kind of startup?
There certainly is. Just ask, Vinnie Bevivino, director of Urban Farming Operations at Eco, who explained his work in Urban Farming: It’s a Growth Business, “I can walk into a restaurant with a seed catalog and ask the chef what varieties of lettuce, zucchini, or beets he’d like me to grow, just for his menu.”
In addition to this unprecedented customization, Bevivino also cites the convenience of seamless collaboration to support these restaurants in their creative offerings, “He can also tell me when he wants delivery and I’ll synchronize my planting schedule with his seasonal menus. He won’t get that kind of customized service from a national produce chain.”
Although you won’t have an Old MacDonald-style farm, you can still call yourself a farmer by taking advantage of this critical agricultural shift and opening your own urban farming business.
Before you opt for overalls and start playing in the dirt, make sure you’ve got the marketing expertise to build your brand the right way from the ground up.
Still looking for a startup business idea that’s more you… check out our #10 featured startup suggestion.
For the Teachers at Heart: #10 — Get Crafty?
Welcome back to the next installment of our top 12 picks for best startup businesses of 2020. For those who’ve been following, so far we’ve covered CBD shop ownership and urban farming.
Born without a green thumb? No problem! Unless you’re “all thumbs,” why not try your hand at opening a craft workshop?
Turn a Profit on Teachable Moments
It turns out, most of us really do love learning and are looking for more ways than ever before to flex our brains, while reaping the therapeutic benefits associated with crafting or DIY skills.
Consider this recent data compiled about craft workshops: “Research from Eventbrite shows that the number of events offering lessons in everything from crochet to glass-blowing increased by an astonishing 350% from 2014 to 2018.”
The specific craft areas expected to grow include:
- Basic DIY
- Upcycling furniture
- Candle making
- Jewelry making
Similar to the emphasis on urban farming, much of this trend concerns sustainability and people’s desire to do more with less and/or repair, rather than replace items.
If you’re curious about How small businesses are capitalizing on the booming DIY industry, you first need to know that “The crafting industry is worth more than $40 billion, and it continues to grow.”
For a glowing example of startup success…
“One particularly impressive success story can be found in North Carolina, where graphic designer Maureen Anders launched AR Workshop with partner Adria Ruff in 2016. They now have more than 75 storefronts in 25 states, where DIY lovers can create wooden signs, lazy susans, and painted canvas pillows.”
In other words, look no further than Elm Street where Manchester’s own AR Workshop proves that “The DIY trend won’t go away, it’s what people want to create that will change. We have to constantly stay on trend with what’s out there in the design world,” according to Anders.
DIY drop out? Don’t sweat it!
Check back for our next post, where we feature the #9-7 startup business suggestions…
Of course, whatever you endeavor to start in 2020, you need the marketing strategy and support to make your brand successful. Get in touch with our team and learn how we can help you support your startup from launch to lasting success.