If you want to start a startup or business, the most important and the first thing to do is to decide an idea for your startup/business. Choosing an idea for your startup can prove out to be a difficult task and if you make any mistake while choosing an idea, your startup may fail to get a bright future. The most important thing to keep in mind when selecting an idea is to choose something that is of your interest. You can try out any idea that you can think of and can make the lives of people easier or you can select from a list of ideas that people have already implemented.
We bring to you such a list of startup ideas for 2020 that are not new but definitely good and profitable along with their pros and cons to help you make a decision.
Startup Ideas For 2020
Blogging is a very good idea for a startup and can prove out to be very beneficial. There are many genres of blogs you can write upon such as travel blogs, food blogs, tech-related blogs, etc. You can start a website and write articles or blogs that focus on any one genre or multiple genres. This idea will require patience as your blogs will take time to get noticed and to attract traffic. But if you follow the right techniques and have enough patience, this will prove out to be very profitable.
Pros Of Blogging
- Starting the process of blogs is easy. There are thousands of templates available on the internet for free for writing blogs.
- In the starting, you can use free blogging sites to post your blogs such as WordPress, Blogger, Ghost, etc. After you get comfortable in writing blogs and are able to attract a good amount of audience to your blogs, you can start your own website.
- You can reach out to and convey your message to many people. People like to read blogs and by using correct techniques, you can build a loyal audience and a community with people like you.
Cons Of Blogging
- As I already mentioned, getting a good amount of traffic to your blogs will require a long time. Therefore, it will take a long time to make good profits.
- Writing a good blog will require a lot of research and thus, a lot of time.
- You will face many difficulties if you do not like to write. Therefore, it is essential to start blogging only if you like to write.
- Not everyone will like you. It is possible that you get many hate comments and rude remarks on your blogs in the beginning. But you must deal with it and constantly improve yourself to stay at the top.
EdTech or Educational Technology is a very good business idea to try out in 2020. Some examples of such businesses are Byju’s, Vedantu, etc. What you’ll basically do is to teach people online on a variety of subjects such as preparation of competitive examinations or you can tie-up with some educational institutions and provide them with study materials and online tests for their students, etc.
Pros of Starting an EdTech Business
- During the current times, online learning has become the need of the hour. Therefore, you can provide online teaching solutions directly or via some coaching institute.
- Many coaching or other educational institutes require support for online examinations and good study material which you can provide.
Cons of Starting an EdTech Business
- You will face decent competition as there are many startups in this field that have established themselves and earned the confidence of the people.
- You’ll have to update your resources continuously as the time changes
- You’ll have to look for talented and skilled employees which can be very difficult
3. Home Tutor Aggregator
There are many home tutors available in each colony. Your startup’s job will be to aggregate such home tutors to your startup and when a customer requires a home tutor, you send the best candidate to them. Therefore, your business will stand as a mediator between the student requiring a home tutor and the tutor looking for a job.
Pros Of Being a Home Tutor Aggregator
- It is a unique job. Therefore, people will be attracted to your business. Moreover, you will find very little competition especially if you start in a small town or city.
- Can be very profitable.
Cons Of Being a Home Tutor Aggregator
- Although it is easy to find home tutors everywhere, it will be a difficult task for you to find a GOOD home tutor that will match up to the standards of your startup.
- In the present situation, your business will fail. This is because no one is continuing with home tutors to avoid the spread of the COVID-19 infection. Therefore, you will have to wait until things get back to normal.
4. Social Media Management
Every business, whether small or large, requires a big presence on social media as this is the age of social media. You will provide social media management services to such companies and handle their social media accounts. You will have to post images and videos, blogs, and respond to customer queries on their social media handles.
Pros of Being a Social Media Manager
- If your first client gets satisfies with your work, you will come into the notice of many potential employees easily.
- You get to interact with a lot of interesting people daily.
Cons of Being a Social Media Manager
- It can be very time-consuming. You have to create good and creative posts and blogs if you want to showcase your talent, and this requires time.
- Any small mistake by you can lead to the deal being canceled and you losing a client.
5. Pet Services And Products
Although there are people out there with such businesses, but still it is unique, especially in small towns and cities. Your startup will provide essential services and products that pets and pet-owners require. This will be a very good idea for your new startup, especially if you are an animal lover.
Pros of Having a Pet Services And Products Business
- Competition in the field is low. You can gather a loyal customer base if you provide them with good quality services and products.
- If you are an animal lover and know the needs of pets and pet-owners, you can make good progress from the start.
Cons of Having a Pet Services And Products
- It can be difficult to choose the right location. You must choose locations where competition is low and the demand for such products and services is high. This can be a difficult task.
That’s it for the 'Startup Ideas For 2020' list. Please note that the list is not in any kind of order. All these startup ideas can work wonder for you in 2020. But do not ever hesitate to try any ideas that you come up with. If your idea can solve any problem of people and is unique, your business will flourish.