The term “small business” is no more considered an option for those who can’t land a prestigious job. Rather the young qualified professionals are now willingly dumping their high paying 9-to-5 jobs to chase money making business ideas for young adults.
Fortunately, in this digital era, starting a profitable business from ‘zero’ is becoming increasingly easy. Right now there’s no dearth of money making business ideas for young adults. In fact, young entrepreneurs enjoy lots of flexibility in picking up the most interesting and rewarding biz idea.
This article presents an interesting list of hot new business ideas to help kick-start your entrepreneurial venture without huge investment. Most of these small profitable business ideas listed below need just an internet connection to start. Few however, demand specific skills and specialized knowledge.
Here are my suggestions related to money making business ideas for young adults. I also explain why these ideas sound so promising.
Offer Bed and Breakfast – One of The Most Lucrative Money Making Business Ideas For Young Adults Worth Considering
Home-stays are rapidly emerging as one of the hot new business ideas in the hospitality sector. This is quite evident from the phenomenal growth of portals like Airbnb.
If you are lucky enough to have a house or can arrange an accommodation that has 2-3 spare rooms, then you can earn a few hundred dollars per month. How? By simply listing your rooms on sites like Airbnb with bed and breakfast service!
Guest hosting also opens up various earning opportunities. Besides bed and breakfast, you can offer added services. These can be arranging flight and cabs, planning city tours and cultural activities, taking the guest to exotic eateries, etc.
According to recent statistics, there are 1.9 million listings on Airbnb. The portal has 150 million users, covering over 65,000 cities. Since 2008, 400 million guests stayed at Airbnb listings.
Make Money by Referring Customers to Local Businesses
If people trust your suggestion and call you up to know about the best bistro, lawyer, or dentist, then you can make a buck by referring them to businesses you know. Referral service is one of the oldest money making business ideas that has made many people rich.
In this internet age, you need to build a website to feature businesses you intend to work with. Market your website among friends and family. Just make sure that your users can easily and instantly access authentic information, which they can’t find elsewhere.
Provide Child-Proofing Services – And Earn More Through an E-commerce Store
Child-proofing is one of the profitable business ideas that many entrepreneurs don’t know about. This makes it one of the low-competition, money making business ideas.
Want to know what a child-proofing service exactly is? Simply speaking it is about providing a safe home for babies. As a child proofing service provider, you have to do a survey of the client’s home.
Your responsibility is to find out particular nooks and corners which might be dangerous or unsafe for the baby. That area can be a sharp corner, staircase,or a kitchen cabinet. Even a door lock that doesn’t work properly is considered unsafe for a kid.
As a childproofing service provider, your responsibilities will be something like this, as illustrate in the image.
You can also boost income by starting an e-commerce store to sell baby products.
Why childproofing business is growing fast? According to latest statistics, 80% of child deaths occur at home; reasons are poisoning, choking, burning, or drowning. This is why parents have now become quite conscious child safety as home. They are ready to hire child-proofing experts to implement home safety measures.
The increased awareness is driving the global child-proofing market, which is growing at a CAGR of 6.96%.
Offer Online Editorial Services to A Broad Range of Customers
As a part of editorial services, you can offer a multitude of solutions. Few services which are in demand are
book writing especially e-books and
web content writing.
You can extend your online editorial services to small businesses, large enterprises, students, professionals, authors and more.
Setting up an editorial services company is one of the best business ideas to make money online without any huge involvement. And there is huge scope of making money from this business.
Beauty Vlogging – One of the Hot Money Making Business Ideas For Young Adults
These days, beauticians and makeup artists are turning into YouTube celebrities. They are earning in five figures by providing beauty tips and makeup tutorials to their audience.
If you are an expert makeup artist, looking for money making business ideas, then launch a YouTube channel to earn money online. You can run this business right from your home. Simply you s need a laptop or a desktop with high quality webcam and microphone to operate. Even you can do beauty vlogging from your mobile phone. To make more money, you can develop a website and sell makeup courses and/or beauty products to interested candidates.
According to Statista, in the year 2017 more than 88 billion videos related to beauty-related were viewed on YouTube. This figure was 55 billion in the year 2016. YouTube reported 700+ million views of videos that serve beauty content.
You can draw inspiration from some of these top beauty channels on YouTube.
Patient Advocacy Is Gaining Tremendous Importance Across the World
You should not treat patient advocacy like any other general business. It is actually a sort of healthcare specialization service where you have to provide support to patients suffering from long-term illness. These patients are most likely, not in a condition to attend to their own medical condition.
As a patient advocate, you have to monitor several important things. For example, you need to suggest the right hospitals, collect bills to claim insurance. Also you have to negotiate with insurance companies to pass on the optimum benefit to your client.
While patient advocacy business can be started without any investment and even during weekends, but a thorough groundwork is always suggested before you take the plunge.
Real Estate Management Is Emerging as One of the Top Money Making Business Ideas for New Entrepreneurs
A real estate manager is the first contact for people looking to buy or sell their properties. As a real estate manager, you need to undertake several responsibilities. Besides ensuring safety and maintenance, a real estate managers confirms that properties managed by him are free of litigation.
Real estate management is one of the best money making business ideas for young adults worth considering. Why? Because there are endless opportunities to increase earning potential. You can make money as a real estate agent by undertaking a variety of additional jobs like interior designing, furniture supply, painting, landscaping, etc.
MarketsandMarkets, a market research firm expects the global property management market size to grow at a Compound Annual Growth Rate (CAGR) of 8.8% between 2018 and 2023, from USD 14.47 billion to USD 22.04 billion during the forecast period.
A Telemarketing Unit Is One of the Best Small Profitable Business Ideas That Is Witnessing Growth Over the Years
With an aim to cut down costs, an increasing number of businesses now outsource their marketing campaigns. Thus telemarketing services are in demand.
As a telemarketing business owner, you have to generate warm leads, and set up customer appointments on behalf of your client. If you have good communication skill and can fluently interact in different languages, then you can start a telemarketing unit.
Transparency Market Research, a leading market research and intelligence firm, presents few interesting statistics.
The global outbound telemarketing market will touch $12,201.4 million by 2025. This a big leap from $8,848.9 million in 2016, posting a CAGR of 3.7% between 2017 and 2025.
Become a Health and Fitness Guru on YouTube
Health and fitness topics are the most-searched categories on YouTube. For fitness enthusiasts, a health and wellness-related YouTube channel is one of the hot new business ideas to consider right now.
If you know how to treat different health issues the natural way and have benefited by following a certain fitness regime, then share such info with your followers on YouTube. However, to make money on YouTube you need to be innovative and methodical.
The global health club industry revenue reached $87.2 billion in 2017. And the industry has 151 million members worldwide.
This is reported by the International Health, Racquet & Sportsclub Association. The health and fitness sector is growing fast, as brands are approaching vloggers to promote their products.
Website Flipping Ranks as One of the Top Profitable Small Business Ideas for Web Developers
One of the hot new business ideas for tech enthusiasts, website flipping is all about buying a website, optimizing it, and selling it at a profit. If you are a web developer, who can expertly identify websites that have room for improvement, then this business is ideal for you.
However, it is not easy to make money from website flipping. You need to know the ins and outs to website flipping to make the most of this online income opportunity.
Currency Trading Is One Of the Attractive Money Making Business Ideas For Young Adults Who Know the Fundamentals of Forex Market
Currency trading is increasingly becoming a popular trend. These days, many stockbrokers and banks offer online trading platforms to trade currencies at lightning speed. You can use the platform to do your own currency trading.
Else you can start a currency trading business also, on a profit-sharing basis with the Forex trading platform provider. The business demands thorough analytical and technical skills to understand the foreign exchange market worldwide.
According to NASDAQ, the global foreign exchange market trades over 5 trillion dollars every day. The Forex market trading volume is 25X more than the total equity trade volumes worldwide.
Custom Clothing – An Untapped Industry With Great Growth Opportunity
The online custom clothing market is still at its nascent stage, and the sector is fairly untapped. This throws open an excellent opportunity for fashion stylists. If you are a fashion enthusiast looking for hot new business ideas, then this industry offers significant growth potential.
If you are passionate about trending styles and fashion, you can start this online business and provide personalized tips to your clients. Your custom clothing suggestions can range from designs to fitting, patterns, and fabric.
According to a report published by Credence Research Inc, the custom T-shirt printing segment alone will cross $10 billion by 2025,. Through the forecast period, i.e. 2017 to 2025, the global market for custom T-shirt printing will grow at a CAGR of 6.3%.
Application Development Is One of the Booming Money Making Business Ideas Today
IBISWorld reports that the market size for smartphone applications in the US is $12 billion. The market is growing at a crazy speed, with an annual growth rate of over 36%.
Do you have the expertise to create unique applications for web/Android? Then this is the right time to enter the app development market. Yes, this is one of those money making business ideas for young professionals passionate about technology and coding! The best part is, this business requires only app development skill, and little to zero investment.
Sustainability Consulting – Help Businesses Manage Social and Environmental Responsibilities
Today’s business model lays great emphasis on CSR (Corporate Social Responsibility). The sustainability consultant delivers social, economic, and environmental benefits to stakeholders, employees, and the public.
Modern businesses, need sustainability advisors to recommend them unique options and solutions. The advisor is responsible for sustainable development without impacting the bottom line.
Recently an independent research firm Verdantix published a forecast model. It shows that the global sustainability consulting market will touch $1 billion in 2019. Spending on sustainability commitments will also increase. It is expected to rise from $877 million in 2015 to over $1 billion in 2019.
If you have specialization in this field, then consider sustainability consulting. It is one of the best money making business ideas that can actually make you wealthy very fast!
Cyber Security Consulting Features as One of the Extremely Popular & Profitable Business Ideas
As a cyber-security consultant, your prime responsibility is to protect clients from diverse security threats. These can be virus attacks, scamming, and hacking and related issues. Cyber-security consultants play both the roles of a defender and attacker in software programs, networks, and computer systems.
If you have a bachelor’s degree in computer science, then you can start a cyber-security consulting company and make a living out of it.
The total value of the global cyber security market was $116.5 billion in 2018. Business consulting firm Grand View Research predicts a CAGR of 11.0% over the forecast period 2019 – 2025.
Become a Social Media Advisor – Help Businesses Get Social Media Recognition
With the addition of new platforms every year, the social media craze is not going to die soon. This makes social media consultancy one of the most sought after business ideas to make money in recent times.
The best part is you can become a social media constant without any formal training. If you have a significant social media fan following (preferably 1000 plus), you can start making money as a micro-influencer.
And then you can opt for certification courses conducted by several established platforms. You can take your pick from Google, Twitter, LinkedIn, Udemy and the like. The certification will turn you into a thorough professional within a few months.
Read this article to know start a social media consulting business.
Start a Business of Creating and Selling Online Educational Products
Educational product creators are making smart money. Sometimes they can earn even better than bloggers and vloggers. This is because they offer specialized knowledge and expertise in a digital format, such as an e-book, online course, presentation, etc.
If you have a subject-specific knowledge to share, you can publish and sell your own e-book. The most popular free self-publishing platforms are Amazon’s Kindle Direct Publishing (KDP) and Barnes & Noble.
You can even design online courses and sell it from your own website. Else you can try several trusted online course platforms to sell the digital educational product.
Launch Desktop Publishing Business And Earn in Your Spare time
If you have few years of experience in freelance desktop publishing, then consider starting a full-fledged business now. You need to create a business plan and decide what sorts of assignments to take up from clients. Generally customers place orders for brochures, pamphlets, posters, magazines, newsletters, etc.
You simply need a computer and a high-quality desktop publishing software to start this business. There are design tools like Lucidpress or Scribus which can be used for free.
If you are a designer confident about own creativity then consider desktop publishing to make easy money online.
Offer Virtual Assistant Service To SMEs and Startups
A virtual assistant is basically a digital version of a personal assistant. If you have held the post of a personal assistant in an office, then this business is ideal for you. Work as a virtual assistant and enjoy greater freedom. As you get to pick your clients, working hours, and pay rate, that assures greater job satisfaction.
The fact that only 59% Virtual Assistants work full time, makes it quite a lucrative part-time business proposition. According to Global Market Insights, Inc., the intelligent VA (IVA) sector is expanding fast.
From a modest $1 billion in 2017 this industry is expected to reach an astronomical $11.5 billion figure by 2024.
Undoubtedly, the Virtual Assistant industry is on the verge of phenomenal growth and a young entrepreneur can immensely benefit from this expansion.
Start a Virtual Reality Related Business – One of the Fast Emerging Small Profitable Business Ideas
VR is rewriting the technology dictionary every possible way! Terms like “Oculus Rift” no more sounds like a spaceship component. Neither do people misinterpret “Google Cardboard” as a Google card game! This means people are ready to explore the world of virtual reality. They are willing to spend money on VR technology too.
This opens up lots of business opportunities for tech-savvy entrepreneurs intrigued by VR innovation. Few VR-oriented hot new business ideas worth considering are VR café, virtual reality dating service, VR app development, marketing service and a lot more.
By 2027, the virtual reality business market globally is expected to touch an exorbitant $485 billion.
Enough reason to be a VRpreneur??
As evident, the above money making business ideas for young adults do not need huge funds. But they do require extensive research, hard work and dedication. And of course you need to do thorough planning before making the first move. So, devote quality time to build up a business plan, and try to stick to it. Your business will definitely start making money!