If you’re looking for a side-hustle that you can run while in quarantine, or you are on the hunt for a new job after getting a taste of working remotely, 2020 is the year to make it happen. Not only has the coronavirus upended some of the most traditional business models, but it has also enabled many entrepreneurs to capitalize on new markets that were already performing well before the pandemic hit.
Part of cashing in as a new business is picking a market or industry that has high popularity as well as the ability to focus on a niche and target customers who’re likely to make a purchase. Even with a great business plan and excellent marketing, it can be hard to connect if you don’t have a product that’s popular or useful to customers. As such, you must identify a market that is going to offer you success and profits before launching your business. Here are just a few of the best business ideas for making money in 2020.
Sell your own beverages as part of the health and wellness boom
More and more people are getting interested in health, wellness, and fitness, and, as a result, more holistic and healthy products are flying off of the shelves. One of the most essential tips for anyone looking to lose weight is to substitute the calories they’re drinking from things like soda for more healthy options. At the same time, people hitting the gym for the first time and looking to build muscle may be interested in protein powders or pre-made protein shakes that simplify meeting their macros each day. By selling your own private label nutritional beverages, you’re taking advantage of a market trend that’s sure to maintain steam.
Private label beverage companies offer entrepreneurs a variety of entry points into the incredibly lucrative arena of nutritional beverages. Nutritional beverages come in all shapes and sizes, from sparkling juices and infused waters to ready-made protein shakes. All of these drinks have their niche and target demographic, so think carefully about what sort of clientele you’re interested in selling to before you make any decisions. Browsing a manufacturer’s website can help you better understand the ins and outs of designing a drink and its packaging, as well as distributing and marketing your product.
A company like Superior Supplements Manufacturing can make the entire process much more accessible, thanks to the fact that they offer turnkey service so that one company manages everything. This allows you to know your vendor and the private label process and receive the service you need in order to make informed business decisions.
Cash in on the cosmetics industry
The beauty industry is another lucrative field. This market was already on the rise, thanks to the popularity of social media platforms like TikTok and Instagram, where personal appearance is pivotal. Customer interest in beauty has continued to rise as a form of self-care, and as more people interact with each other online.
When it comes to picking a niche in the beauty industry, it’s a good idea to focus on a specific aspect of the cosmetics industry, such as hair care, skincare, or makeup. A great example of this comes from Glamnetic, a company that focuses on improving and simplifying false lashes. No more clumpy mascara or messy eyelash glue— Glamnetic has created a solution that will work for both the makeup guru and the novice. Glamnetic offers a magnetic eyeliner kit that attaches to their magnetic lashes, making them the go-to product for anyone interested in enhancing their natural eyelashes before a date or Zoom call. Simplifying the false lashes game is Glamnetic’s niche in the beauty industry— what will be yours? By cornering a niche for yourself and targeting customers based on a specific need, you, too, can find success in the booming cosmetics industry.