If you are planning to start with a new entrepreneurial venture in 2020, the time seems right to turn innovative and think out-of-the-box, especially in regard to adding value to the entire community. While there are many smaller businesses that are increasing following environmentally cohesive strategies for growth, we would also like to talk about the business ideas that can also be equally productive whilst being considerably eco-friendly in nature. 

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That said, before moving further with the list it is important to understand that type of business that would fit into this category and would be productive to the entire community.

  • Profitable venture that would be relevant even for the next few years to come
  • Wouldn’t budge and keep returning profits even during economic uncertainty
  • Doesn’t require business owners to be highly qualified
  • Doesn’t require a lot of initial capital

Any business that adheres to the following standards can easily feature in this list and we would be talking about 5 of the best options that can be considered in 2020 and beyond:

  • Fulfillment

If you have a product that needs to be talked about, then the fulfillment business is something that needs to be prioritized. Fulfillment might sound like a pretty extensive business plan as pushing forth different products to different parts of the world requires a lot of initial investment which readily negates the list of criteria mentioned in the previous segment. Therefore, you can be a mere seller to begin with and enroll for the FBA or Fulfillment by Amazon program for sending the best possible products through to the global populace.

Therefore, the best way to approach the fulfillment business, at the beginning, is to opt for a product-sales venture where you can deal with environmental friendly or green products and get them out in open via the FBA or Fulfillment by Amazon. 

  • Vaping

Anyone who is against smoking and tobacco will immediately regard the vaping business with utmost respect. It goes without saying that vaping is purely a technology-driven business where the conventional smoking is replaced by a more eco-friendly chemical or liquid. Moreover, even research reports support the fact that vapes are 95 percent safer as compared to regular smoking. Then again, the vaping business is already taking off at a pretty steady rate as we discuss. The existing trends are clearly driving realistic presumptions in favor of increased population of vapers, i.e. almost 55 million by 2021. That said, you can click here to ascertain the growth and potential of this business venture.

The popularity and growth of the vaping industry can be gauged by the fact that a majority of individuals across the globe are actually looking to get rid of smoking as a life-threating habit. Moreover, setting up an offline or even online vaping shop isn’t an exorbitantly costly affair and the prevalence of an ailment called thalassemia is actually pushing the ball in favor of this venture.

  • Meal Delivery

The entire global community is fast shifting towards a healthy style of living which inadvertently includes healthy and timely eating habits. Therefore, meal kits and meal delivery systems are great business prospects with the existing industry expected to reach figures amounting to 11.6 billion dollars by 2022. While setting up meal delivery systems is easy and cost-effective, the hard thing is to maintain quality at all times. Be it selecting recipes based on the clientele or measuring ingredients on the basis of preferences and food allergies, if any— meal kits and delivery systems require extreme levels of farsightedness and connections with relevant wholesalers and suppliers.

Minor business tweaks in regard to meal kits include credible and pan-country delivery systems followed by fantastic after-sales services and continual support.

  • Home Renovation

It goes without saying that home remodeling is one of the booming sectors that is getting all the attention at this point of time. This is where home renovation and inclusion of downsized and minimalistic components come into the scheme of things. What needs to be understood that in certain section of the New York City, the demand for home renovators is fast exceeding the supply, by almost 300 percent. This inference further validates the popularity of home renovation as a potential, game changing business idea and that too with community-focused benefits.

  • Gourmet Coffee

Setting up a gourmet coffee shop might sound simplistic but is an exceptional and innovative business idea, provided the steps are taken with utmost precision. Moreover, this business strategy is expected to pay rich dividends even during an economic meltdown as whatever be the case, people would keep drinking coffee. 

However, setting up a gourmet coffee shop requires proximity with convenient location, inclusion of fantastic design elements, and availability of a pleasant atmosphere that can keep individuals glued to their seats for longer periods. The popularity of this business idea can be further validated by the fact that the percentage of coffee consumers have increased from 14 to 41 percent over a period of 16 years. 

Inference

Setting up a profitable business and that too with community-centric ideologies is a difficult thing to execute. However, the business strategies mentioned in the aforementioned sections can and should be considered, provided you are looking to make it big in the entrepreneurial circuit.