Top 10 Small Business Ideas for 2019

Starting a small business can be frightening and requires plenty of careful planning. There are plenty of business ideas which can be beneficial as well as economical. The last thing a new entrepreneur or new business need is to be found in a financial state due to unnecessary spending. When starting a small business the key is to remember that it is small and initially the intention should be to limit spending until a profit is made. So let's get started with the top 10 small business ideas for 2019.

1. Yoga Centre

For over a thousand years, yoga has been celebrated as one of the globe’s most effective methods of spiritual release. Yoga promotes both physical and mental strength, offers a great workout and helps practitioners get in tune with their bodies. Bearing all that in mind, it’s little wonder yoga is so popular.

More than one in 10 Americans regularly do yoga. Meanwhile, around 44 percent of adults have reportedly considered giving yoga classes a try — and an estimated 80 million Americans say they’ll likely take yoga up at some point in the next twelve months. Overall, the country’s yoga industry is worth around $16 billion per year, and offers plenty of fantastic opportunities for aspiring small business owners.

2. Catering Business

When going into the food business, it is always best to start small. In this, one would better understand how it is run. This will also allow one to have more time to focus on the important aspects of the business, rather that worrying about managerial problems as in big businesses.

Catering is the cooking and serving of special dishes, preparation and decoration of venue for a special occasion, feast, meeting or other gatherings. Servers and waiters are hired and paid per function or occasion.

3. Travel Agency

If you’re someone who loves travel, loves the planning process, and enjoys helping others have great experiences, you may have considered starting a travel agency.

However, starting a travel business is a bit of a mixed bag. On the one hand, a travel business can be fairly inexpensive to start, and you can often get away with limited staff and little upfront cost.

That being said, success is largely dependent on finding the right niche in a fiercely competitive market. So, if you want to be successful, you’ll need to put a great deal of effort into your market research, branding, and marketing.

If this sounds right up your alley, keep reading. I’ve interviewed several founders of successful travel agencies who can give you the advice you need to get started, and I’ve also included plenty of links and resources to help you work through the process of starting your own travel business.

4. Fitness Programs

Today, fitness has become a very important part of our life.  Due to the lifestyle changes of the millennials, staying fit helps to reduce the risk of getting obesity-related diseases like hypertension, diabetes, stroke and infertility. The fitness and wellness industry has become one of the largest markets in the world and a $3.4 trillion industry. You can start your own fitness program and market it through social media.

5. Home Improvement and Handyman Services

When you consider starting a home improvement business, the first step is to take stock of your skills and interests. Do you like or have you ever been involved in building and construction? Do you prefer repairing or restoring? Do you possess skills in plumbing or electrical works? Do you want to work on long-term projects such as kitchen remodeling, or would you rather work as needed on appliance repairs?

Do you want to work on projects that require you to coordinate with your work with others? To finish a basement, for example, you would need plumbing, electrical and carpentry skills. If you don’t have one of those, you’d need to coordinate with someone who does in order to get the job done.

6. Consulting Services

The dictionary defines a consultant as "an expert in a particular field who works as an advisor either to a company or to another individual." Sounds pretty vague, doesn't it? But unless you've been in a coma for the past decade, you probably have a good idea what a consultant is.

Businesses certainly understand what consultants are. In 1997 U.S. businesses spent just over $12 billion on consulting. According to Anna Flowers, spokesperson for the Association of Professional Consultants in Irvine, California, the association has recently noticed an increase in calls for information from people who want to get into the business. "The market is opening up for [the consulting-for-businesses] arena," Flowers says.

7. Professional Car Washing Business

Opening a car wash business can be a fun, interesting, and profitable business for somebody with business smarts and perseverance. With the right location, good marketing, and top-notch service, you can draw in numerous customers who need their cars washed quickly, efficiently, and at a good price. However, opening a car wash business also requires a significant investment, good planning, and attention to detail in order to make your business profitable.

8. Affiliate Marketing

One of the fastest and easiest ways to make money online is by launching an affiliate marketing business (or adding affiliate marketing to your existing business).

Affiliate marketing allows you to make money online, even if you don’t have blog, website, or any products of your own. Following a few simple steps can get you up and running within hours and earning your first commissions right away. Affiliate marketing really is one of the fastest and easiest ways to make money online and should be a part of every online business owner's portfolio.

9. Event Management and Planning

The special events industry has grown enormously in the past decade. According to recent research conducted by Dr. Joe Goldblatt, CSEP (Certified Special Events Professional), spending for special events worldwide is $500 billion annually. Goldblatt is the founder of International Special Events Society (ISES), the founding director of the Event Management Program at George Washington University, and co-author of The International Dictionary of Event Management. "Suffice it to say, the marketplace is large enough to support and sustain your endeavor," says Goldblatt. "If you're working in one special events area, there are many directions in which you can expand. If you're just entering the profession of special events, there's a lucrative market awaiting you on many fronts."

10. Drop-shipping

Drop shipping is an extremely popular business model for new entrepreneurs, especially Gen Zers and Millennials, due to internet marketing skills far outweighing financial capacity. Since you don’t need to stock or handle the items you are selling, it’s possible to start a drop shipping business with limited funds.

An e-commerce website that operates a drop shipping model purchases the items it sells from a third-party supplier or manufacturer, who then fulfills the order. This not only cuts operational costs, but it also frees up your time to focus all of your efforts on customer acquisition.

If you are ready to start a business that can compete with retail giants, and do so on a limited budget, then follow the six steps below. While it doesn’t take a lot of startup funds to launch a drop shipping business, it will require an immense amount of hard work.