Starting a business is a good move for those who want to make money while being their boss. If managed well, the venture can lead to a genuinely comfortable life and help you reach your financial goals.
Those in Australia who would like to try their hand at starting a small business have plenty of options to explore, from an IT consulting company you can start at home to product franchise opportunities. Franchising is one of the best ways to have your own business with only a small capital, plus you have the power of an established brand behind you.
Whether you’re planning on starting from scratch or considering taking advantage of a franchise opportunity, you may be wondering what sort of business or industry would be favourable to dive into. To help you decide, here’s a list of the most profitable small businesses in Australia.
The need for information technology experts will just keep on increasing, so if you’re tech-savvy and well-versed on all things internet, this is the industry for you.
Health and wellness
Help others keep themselves in good shape. Start a small yoga, dance, or martial arts studio. You can also start a small spa or massage services.
Food and beverage
People eat every day, so a small restaurant, bake shop, catering business, or food delivery service won’t find it hard to generate profits.
Pets are family, and pet care services are becoming more lucrative every day. Consider selling pet care products (lots of great product franchise opportunities here), starting a pet care service (such as pet boarding, dog walking, and pet grooming), or partnering up with an insurance company to offer pet insurance.
Nearly 80 percent of internet users in Australia made online purchases in 2017, so if you have products to sell, get online and start your retail store.
Australia is a tourist hotspot, so if you know it like the back of your hand (and know the ins and outs of the tourism industry), you can explore becoming a qualified travel consultant or setting up your travel agency.
We’re all going green, so if you have knowledge and experience on green living and the government’s laws related to making Australia more environmentally friendly, you can check out green services.
Those are just some of the best small business ideas you can consider when starting your own business. The best one, of course, is that which you are passionate about or are interested in. Good luck!