In the modern age, the business Industry is seeking competition at a larger scale. From high-end multinational companies bringing in products and services of endless durability, today’s entrepreneurs may find their business difficult to survive. In such a situation, a newbie entrepreneur must focus on starting up a small scale business with a non-risky investment bid.
Although investment is not a singular factor of small scale businesses. There are other factors to focus on as well. To begin with, the growth and success of small scale businesses depend on the following:
- Business structure
- Management of business
- Location of business
- Competitors out there
- Business goal
- The economic condition of the country
- Scope of type of business
- Expected return
- Risk associated
All the given elements of a small scale business impact its growth one way or another. For example, small scale business ideas without investment lead to a silent partnership. This may cause your creative contribution to business countable as a nill.
Therefore, if you are by any chance rethinking a small scale manufacturing business Idea, you are doing the right thing. Without any further ado, let’s take a glimpse of the best small scale business ideas of 2020 amid Covid-19 with zero or fewer investment requirements.
Online Distribution Center for small Retailers- Small Scale business online
Amid CoronaVirus widespread, no one desires to go out to walk around malls and purchase products, let alone local retailers in an area. What’s the best business opportunity you see here? To begin with, you can open an online distribution site for small retailers in your area, for example, within five miles.
Today, people order the bulk of groceries online from a single website. Without a doubt, they get delayed because there are very limited sites that offer doorstep delivery for groceries. A similar situation fits with medicines, ready to make food containers, beer, juices, and even milk.
Therefore, you can open an online e-commerce shopping site for groceries, food from restaurants, fashion items, cosmetics, body products, cleaning products, hygiene products, and daily-to-use tools, and so on.
Here’s a fun fact! Do you know? From 2014 to 2020, the sales of products and services via e-commerce platforms have increased from approximately 300 billion dollars to 700 billion dollars. Without a doubt, the difference is worth its mention.
How to open an online shopping store as small scale business?
- Countdown the list of products you are going to sell online.
- Choose the type of e-commerce platform you desire to open. There are three types:
- Pick a brand name for your website. For example, Amazon, Shopify, Flipkart, and so on.
- Set up your website. Hire the best website developer in your global network. Be creative!
- Create a domain name like .com, .biz, .net, or, .in.
- Also, set up payment modes like Paypal, Venmo, or credit card or Cash on Delivery.
- Now, connect with retailers in your reach to deliver products that the customers will order.
- Set up a contract with retailers including your commission per product, return policy, and others.
Once your website is launched, your focus should be expanding your business via advertisement, quality of content, quality of products, excellent product descriptions, gain the trust of customers, and outdo competitions.
Digital marketing consultancy – Small scale business for marketing
Today, over 60% of small scale businesses go online for persistent marketing. However, due to the lack of a marketing team and digital assistants, these companies seek digital marketing consultancies for improving their business’s growth at national as well as international level.
To begin with, digital marketing is not simply “the existence of business online.” However, communication with customers also plays the biggest role in digital marketing. As a nationwide business, customers find it difficult to connect with the authorities in case of any inquiry, complaint, or other issues. Therefore, a digital marketing company ensures that your loyal customers feel assisted all the time.
For example, some companies maintain email chains to recognize their customers regarding the latest products. What does digital marketing consultancy do? A digital marketing consultancy sends a promotional or informative email to unlimited potential customers in order to increase sales. This is how a digital marketing consultancy runs.
There are a number of services that a digital marketing company offers:
- Search engine optimization to improve ranking on Google.
- Pay-per-click or PPC to improve traffic on your business website.
- Social media marketing for connecting with your customers at a wider level
- Email marketing to reach out to millions of potential customers and let them know about your brand
- Website design, development, and maintenance for permanenting your business’s existence online
To start a digital marketing agency at a smaller level, you can hire freelancers. As a result, you will need to invest less in assets such as office space, laptops, electricity sources, and so on.
Smartphone Mobile Application Development Agency
If you are looking for the best small scale business idea 2020, all you need is a single skill for this one. That is skills in mobile application development. Without a doubt, our world is going on a digital pathway. Every product is accessible online to order. Every service is available in a single click.
Do you know? Today, there are a number of mobile applications on play stores that offer medical consultancy services. Thus, declining the need to visit doctors for small issues. What does this tell us? First, every business wants to build its mobile application. Second, the scope for mobile application development agencies is high.
So, how to open a Smartphone Mobile Application Development Agency? Let’s see the guide below:
- Start researching the current market to find the following:
- What strategies are they implementing?
- What are their loose points?
- Number of competitors
- What do their customers think?
- Is there a unique selling point?
- Limit or outline your targeted clientele
- What type of app will you be designing?
- Who will use it?
- What is unique about your mobile apps?
- How much is potential return and investment?
- Do you need to hire a designer?
- Will your business be profitable?
- Do you need to register your business as it is a small scale business?
- Do you need office space?
- Choose the type of Smartphone App you can design at a professional level
- Execute a unique yet proven marketing strategy or hire a digital marketing consultancy, if required!
- Build a digital portfolio
- Reach out to your potential clientele online via LinkedIn
- Take your first project and kick-start your small scale business!
Note: Please ensure that you have a competitive android or apple mobile app development skills. Bad or non-flexible mobile apps can lead to a bad reputation in the industry.
Elderly Care Unit Service at Home
In the United States, the Elderly population is growing at large. Therefore, the demand for Elderly care units has improved until 2019. However, today, due to COVID-19 widespread, people are demanding elderly care unit services at home. Not only this but in the past, the Elderly population of the United States has also struggled to get good quality medical care in the hospitals. During quarantine, you can open an Elderly care unit service at home where you can send an independent nurse to the Elderly’s house.
Apart from this, this small scale business ideas 2020 is also financially stable and predicted to be profitable. The U.S. Government pays a countable pension to the elderly, however, bankrupted later upon their death. Thus, Elder pays nurses on an hourly basis which can lead to high-end profit for the company at a larger scale.
Freelance Logo and Graphic Designing
One of the greatest elements of business representation is business logos and graphics. These two represent a business’s goal, quality of the brand, and where it stands in the industry. If you know how to design logos and graphic designing, then get ready for the most interesting plot in your career. You can take a number of logos and graphic designing projects. They are widely available on professional social media sites such as LinkedIn. Apart from this, you can get paid much more than what a full-time graphic designer earns on a monthly basis.
To begin with, freelance logos and graphic designers earn on an hourly basis. For example, a beginner in the logo designing may charge from $15 to $70 per hour. However, high-end graphic designers with much experience charge over $100 per hour.
Therefore, if you are into designing, you must go for a short-term graphic designing course to register your small scale business. Moreover, as a freelancer, you can cut back on additional expenses such as conveyance cost, accommodation cost, and others. All you need is your designing-compatible laptop and internet connection! You are good to go!
Furthermore, in the future, you can expand your business by hiring a team of graphic designers and take long-term designing projects.
In conclusion, today’s world revolves around the Internet. Therefore, in this reading, we have presented the top 5 small scale business ideas 2020 that require zero or less investment. Once again, we recommend you to go through the several aspects of small business beforehand. Earlier in this reading, we have given a number of factors that have a larger impact.
For more information, you can connect with us online via the comment section. Let us know more small scale business ideas that you may think will be profitable amid CoronaVirus widespread. Till then, stay tuned!