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Small Investment Opportunities in Australia
A considerable number of Australians don’t get involved in investing, largely due to the presumption that this financial venture can be quite costly.
The truth, however, is that there are a number of small investment opportunities in Australia.
Regardless of your current financial situation, you should be able to capitalize on any additional money that you may have.
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Invest in stocks, commodities and/or cryptocurrencies. Here is a step by step guide on how to get started:
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- Make a small deposit of under $500
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To learn more about these small investment opportunities, see below:
How Much Should You Invest
Now, one of your first questions might be regarding just how much money you should invest.
The answer depends on your current financial situation – you should invest as much as you can afford. So, once you have taken care of your monthly essential bills and paid off your debt, the remaining amount can be put towards your investments.
That being said, there is often a minimum acceptable amount for investments in Australia.
With any investment, there are often start-up and ongoing costs.
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These include deposits, brokerage fees, and much more. So, for you to be able to actually make a profit, the amount you invest will need to be higher than all of these costs. So, if you are planning on investing, try to save up at least $500.
You will then have enough capital to make adequate investments and reap financial benefits as well.
Types of Small Investments to Make in Australia
In this section, you will be able to get a picture of all the small investments you can make as an Australian, and have an idea of just how much money you will need for that particular option.
Here are the top 5 small investment ideas in Australia:
You will be able to get started in the Australian stock market with around $500 in your account. As mentioned before, you shouldn’t try to buy shares for less than this amount as the brokerage fees will negate any profits that you are able to make. Still, you can’t actually go to any broker and hope to buy shares with $500.
What you need, in this instance, is a discount online broker.
These online firms have very low brokerage fees as they offer limited services. Essentially, their main purpose is to place the trades for you and little else. Often, such brokers are best suited to investors who have a little more experience under their belts.
Nonetheless, if you are willing to do your own research and make an effort at educating yourself, you can manage this yourself. Here is our article on how to get into the australian stock market.
Of course, investing in independent stocks, especially with low capital, can be a rather daunting process. In case you are looking for a slightly more profitable avenue, you may want to think about Exchange Traded Funds or ETFs.
2. Dividend Reinvestment Plans
These plans are often known as DRIPs and provide you with a low-fee opportunity to invest in shares and stock in certain companies. Now, it should be noted that not every company has such a plan. The ones that do, however, allow you to automatically reinvest any dividends that you earn to buy more shares from the same organisation.
The reason that this can work for smaller investors is because companies will often offer these in their plans at a discounted share price. Furthermore, by opting for this route, you get to forego any broker’s commissions which will only add to your typical investing costs.
There are ETFs that allow you to join for as little as $500 while some of the more profitable ones may require up to $1000. Nevertheless, you still get a rather low entry point while also being able to enjoy a number of advantages. The top benefit of ETFs is that you only indirectly have ownership of a particular asset. This is because your investment is pooled with others in the fund and a manager will determine how to direct that money. At the same time, you can easily diversify your portfolio with this option, without having to make any financial moves yourself. In this way, you can protect yourself against a certain level of risk.
Now, with ETFs, it is important to pick the right one, as you will need to beware of transaction fees and other costs associated with this type of investment. So, make it a point to go for one that you can afford, even if you are only choosing to invest between $500 and $1000.
Most investors would love to invest in property. Unfortunately, you often need a considerable amount of money to get involved in the real estate sector. However, this doesn’t have to be something that you have to avoid anymore. This is due to Real Estate Investment Trusts (REIT) where your money is pooled together with other investors. The total is then used to purchase various properties that you can’t afford by yourself.
While real estate can cost you hundreds of thousands of dollars, a REIT typically has a minimum investment of just $500. What’s more, many of the profits of the REIT are paid out as dividends which means that you have a fairly regular income to look forward to. Of course, it is important to understand all aspects of the REIT so you can be certain that you are making the right decision.
5. Opportunities for Up To $3000
Let’s imagine that you can afford to invest between $2500 and $3000 dollars – what are your opportunities then? In this instance, it is largely about how much risk that you are willing to incur when investing your money.
If you want to limit risk as much as possible, then a certificate of deposit (CD), may be a good option for you. This is a promissory note provided to you by a bank. Now, this type of investment is unlikely to yield you high profits as the associated interest rates are rather low. The advantage, however, is that you will not need to be concerned with any kind of loss.
In the event that you are willing to take a chance, there is peer-to-peer lending. As the name suggests, it involves you offering a loan to another individual, on an online platform.
There is a rather handsome interest rate attached to the money that you provide, ensuring that you get a good return on your investment.
Now, as you can imagine, you may stand to lose a lot of money should the borrower default on the loan. This is especially true if you provide an unsecured loan.
It is important that when opting for this opportunity, you only work with a platform that has an Australian financial services license. The platform should also be registered with the Australian Securities and Investment Commission (ASIC) to truly be a reputable P2P lending platform.
Choosing the Right Broker
With many kinds of investments, you are going to require a broker to be able to place trades. Now, when you have only a limited amount of money to invest with, you need to be careful about the broker that you settle on.
This is because, as mentioned above, there can be quite a few costs associated with investing.
Most of these expenses will involve your broker. For instance, they will set the minimum deposit that you can place in your account at any given time, regardless of whether you are trading or not.
Also, it is the broker who will determine just how little you can invest in any trade. Last but not least, it is these individuals who will tell you how much each transaction will cost, every time you buy or sell shares or similar types of investments.
Since you will be investing between $500 and $3000, you should look for what is known as online discount brokers.
These individuals offer incredibly lower prices, making them excellent entry points for virtually any Australian investor. You should, however, understand that these type of brokers will only be involved in placing trades. The rest of the work – including the research – will have to be undertaken by you.
Becoming Successful While Investing with a Smaller Amount
In this section, you will learn some helpful tips and tricks to help turn your initial capital into a much healthier amount:
- Start Now: when you don’t have a lot of money to spare, it can be tempting to stave off investing until you have accumulated more. Or, you may be reluctant to spend the little extra money that you do have on investments. Well, if you are serious about having enough money to retire with, then it is imperative to begin right away. You are never too young or too old to begin investing. The earlier that you begin, the more profit you will be able to accumulate over the years.
- Focus on What You Can Afford: it can be tempting to get involved with full-service brokers who can make investing a lot easier. Or, you may want to buy shares from ASX50 companies to reduce risk. Despite being great opportunities, these aren’t necessarily the best options for a small-time investor, at least not in the beginning. This is because you will end up spending a lot of money with very little payoff. So, for the time being, stick with what is within your reach, even if it may not feel like a glamorous choice.
- Aim for 10 Percent: this article has largely dealt with how you can invest with as little as $500 if this is all that you can afford. The truth is, if you want to make a real impact with your investments, you should try to invest at least 10 percent of your monthly income. Now, this isn’t always possible for first-time investors but it is certainly something that you should strive towards. Try to curb unnecessary spending or find a way to reduce expenses in your life so that you are able to invest this amount without any problem.
- Reinvest Your Profits: just because you choose not to partake in a DRIP, doesn’t mean that you have to avoid reinvestment. Instead, if you are getting paid dividends on an investment, try to reinvest at least a small portion of that back into the company. If this doesn’t feel like the right financial move, consider using your dividends to invest in another company or sector altogether. Remember, when you invest with a little money, there is a limit on how much you can earn – either in dividends or sales. Nonetheless, the more money you are able to invest, the greater the amount that you can get in return.
- Understand Terms and Conditions: when investing with a smaller amount, you may find that you don’t have a great deal of financial guidance. This is why it is imperative that you learn as much as you can about any investment that you are about to make. So, whether you are looking to buy shares or invest in an ETF, make certain that you know exactly what you are getting into. You should be aware of all the current and future costs and expenses involved in this endeavor as well. At the same time, have a proper understanding of the risk involved with that particular form of investment.
As you can see, there is no shortage of options if you want to make a small investment in Australia.
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With the right information at your fingertips, you can make financial decisions that are suitable for your current situation that will yield impressive results.
The main thing to do, regardless of what income bracket you fall into, is to start making investments now.
29+ Best Business Ideas for Australia – 2020 and Beyond
Australia’s economy is ever-changing, and with the change comes many new and unique business ideas that new and aspiring entrepreneurs can start. New technologies, scientific breakthroughs, and changes to international policy all have an affect on the business landscape. With all the new uncertainy and changes, I thought it was necassary to put together a new list of business ideas. Below you’ll find 30 business ideas specifically designed for Australia.
1. Third-Party Gaming Add-on Development Firm
The gaming industry is set for growth in Australia. But it’s not just the games and consoles themselves that have huge potential for profit. The in-game micro transaction market is growing significantly, and with that growth comes the opportunity for aspiring entrepreneurs like you to seize it.
This business would involve creating the in-game add-ons for certain games. You would need to work with the developers to make sure they could be released, and the percentage of profit they get for providing such a marketplace.
However, this could be a very profitable company because people currently go to lengths to create accounts, level them up, and then sell them to others. If you have a passion for gaming, this business idea is for you!
2. E-Sports Sponsorship Management Company
Another sector that is growing within the massive e-sports community is sponsorship. Over the next 5 years, the market is set to triple in growth from $2 million in revenue to about $6 million. Although this is not massive growth, if you can capture some of that market share with this business idea, it would be easy to expand oversees to other locations where their markets are much bigger.
This company would work with other companies who want exposure at certain events and areas within the e-sports competitions and shows. You would provide them with logo placement, brand mentions, etc, in exchange for a fee. This idea could be started with very little money in the beginning because you don’t need a lot of technology, just sales skills.
3. Internet and Smart Device Network Security Business
Australians are demanding faster internet, and with the breakthroughs in smart devices, there is always the underlying question about security. Well, with this idea, you would consult with governments, cities, and private businesses on setting up smart device networks and manage the security systems behind it. For example, the city may want to install a smart grid that monitors all the roadways for repairs. This company would help them manage the security behind it all. If you have a passion for networks and smart devices this could be a great area to get involved in.
4. Solar Power Development Company
Solar power is an industry that is growing so much, and with the amount of sun Australia gets, it’s a perfect combination. You could start this company by buying large plots of land in rural areas of the country, and then setup solar panels.
Then routing this power to nearby rural or city areas that need power would be where you will make the money. This is more of a large-scale business idea but it has the potential to be a very sustainable business. It would also make you and the country look good with the production of so much renewable energy. If you are worried about storage of that power, you could probably buy Tesla battery storage packs for a wholesale price.
5. Home Solar Power Installment and Maintenance Business
Solar power at residential homes is a growing trend as well. Why not power your own home, reducing your own power consumption until you don’t have to worry about another electricity bill. In Australia, it works for a large amount of the population, and although you would be facing some competition, the market is set for growth and there is room for more competitors.
This business idea for Australia would not only involve installation but also maintenance and cleaning. If you like the outdoors and have a passion for renewable energy, this could be a great business to start. To do it for a low cost, try and pre-sell your services to a few people. Once you have enough money from the pre-sales you can buy supplies to complete the work. This would get you started quicker than raising money if you don’t have much.
6. International Distribution Supply Consultant
With the changing political market, businesses are always needing help to navigate the international landscape, especially with how the US market is reacting. This idea could be started with low start-up investment because it is a service-based business, and you would just need knowledge on international trade and distribution.
This company could also expand into helping business who want to go international, but don’t know where to start. You’d help them navigate that for a fee or percentage of new revenue from that market.
7. E-Book Publishing Company
E-books continue to grow in the Australian market, and they are poised for strong growth in the future. If you have a passion for books, this would be a great business to start. It would involve helping others publish their e-books and your platform would market the e-book to the potential market for sales. You could arrange to have a profit-share plan, where you get a percentage of the revenue of the book since you are also putting some risk on the line with marketing the e-book. However, the profit potential for e-books is way higher than a traditional book.
8. Augmented Reality Safari Guides
Tourism in Australia has always been a large part of the economy. Its obvious people love to travel there and they will continue to do so. To take it to the next level, you could start a business that creates an augmented reality safari guide. The customer would wear a headset or something similar to Google Glass, and be able to see certain statistics, read important and interesting information, and have a more immersed experience. This would be a great way to charge people higher prices too since its new.
Or, it could be an app on the persons phone that they install before the tour to get cool insights or AR viewing of what the area used to look like on the safari. A lot could be done, but this idea would take quite a bit of investment to get going. However, it has so many applications and it could create a significant unique advantage for a tourism company.
9. Fiber-Optic Installation Company
There is growing demand in Australia to get fiber-optic networks installed, either to peoples houses directly, or to central stations where faster internet can be distributed. This company would work with governments and cities to get these cables installed in the ground. If you are interested in this, there could be potential grants and loans that you can receive from the government for performing such a service.
The fiber-optic installation idea could be started for a low investment if you worked with the cities to get grants before starting the job. As this idea grows, international expansion would be needed for growth.
10. Research and Development Consultant
R&D is a huge priority of the government for companies in Australia. To show this, they supported more research and development with tax breaks and grants for companies who are going to undertake more research. Although this business would not receive grants and tax breaks, these incentives free up money for companies to hire external support to help them manage their R&D process.
If you have knowledge of R&D or want to enter this area, this is the perfect opportunity as the government is supporting you with policy change. And business ideas that come from changes in policy are often not looked at, and thus don’t have significant competition entering the market until later (when people see the profits). Since this is a service-based business (consulting), you could start this idea with little money.
11. Digital Music Distribution Company
The growth in digital music is putting the physical music distribution businesses to shame, and we could see them almost completely disappear in the next 5-6 years. That is where websites and apps are coming into play and raising billions of dollars supporting the digital distribution of music.
To start this company, you would start a niche website, and license music from that niche to play for users. Customers could get 50 songs for free along with playing ads, and then subscribe as a monthly member for a few dollars to receive unlimited streaming of the niche music genre without ads. If you have a background in music, or programming, this would be a great business idea for you to start.
12. Smart Home Developer
Smart homes are going to be something we see very soon. With the growing demand for construction in Australia, you could start a unique business idea in this area as a Smart Home Developer. If you have experience or a passion in construction, this would be a great company to start.
The business would involve building houses that have all the newest and necessary sensors, so people have smart homes that interact with them. Imagine, being able to save 30% on your energy bill because your home heats and cools your house more efficient than you can. Or how about it alerts you when you have a flood when you’re away, so you can call someone to mitigate any future damage to this house. The technology definitely solves problems and would be a cool business to start.
13. Smart Office Consultant
A smart office consultant takes a more business to business approach with the use of smart technologies. You would work with companies to help them setup smart offices that make their work and office life more efficient.
For example, this could be setting up sensors for the lights so no one needs to turn them off or on, and also alerts maintenance staff when a light burns out. It could also start coffee pots, turn on computers, and suggest different seating arrangements based on people’s pathways of where they walk. If you have a passion for smart devices and networks, there are many applications for this idea, and it will only increase in demand for Australian companies as they grow.
This could be started with a low-investment if you worked with one company at a time, and bought only the amount of supplies you needed for each job.
14. Gig-Economy Online Platform
The gig-economy is a growing area of employment and opportunity for people looking for part-time work, especially in Australia. With that growth comes the opportunity to help people find those gig jobs. This business idea for Australia also caters to the tourism industry, as many people who travel their look for some sort of work to stay a-float. You could start by creating a website and work with companies that need temporary employment to post their work online. Then, the next part would be getting users to the platform. Although straight-forward, it is hard work but it could all be done with little investment as websites are low cost to create.
15. Corporate Education and Leadership Development Company
Corporate leadership and job training are areas that is massively underserved, which presents the opportunity to start a company and fill that need. By developing customized training and development programs for companies, you can help their employees and talent excel within the organization. A huge problem in the workforce in Australia is the development of employees to be able to take on the management and higher-level roles as the baby boomers retire.
This idea fixes that problem by working with the companies to make sure their employees are trained and confident to lead the company. This is another idea that could be started with low investment as you could pre-sell the packages to companies, and then work with them to make sure the training is custom.
16. Community Energy Station – Blockchain Powered
Interested in blockchain and providing renewable energy for your community? By setting up a community energy station that is powered by solar power, you could sell and distribute energy to you and your neighbours. And, by pairing it with blockchain, it could be done in a very efficient way.
By installing a meter to their power, whenever they access the community grid, it would track their usage and charge them accordingly. For this idea to work, a per kw of electricity could be charged, but it would need to be cheaper than the current electricity rates to entice people to set this up. This business idea is perfect for Australia with the amount of sunlight received, and would be very sustainable. It could also expand into providing power for electric car charging stations in the future.
17. E-Sport Facility Company
As mentioned previously, e-sports is a massively growing industry and people need a place to play and host their games and competitions. Or maybe, people don’t want to spend thousands of dollars on a home gaming station, so they can come to your store and play. By setting up a bunch of gaming stations with the latest games, you could charge an entrance fee for customers who want to play video games. You could also host competitions and tournaments to make money as well.
If you have a passion for gaming and want to enter an event a e-sport business, this idea is perfect for you. Although it would take quite a bit of initial investment to get going, it could be very profitable if you enter the right location.
18. Trades Education Institution
As the demand for construction rises, and the support for training future workers dwindles, there is a large opening to start a business in the trades education area. This could be either a private or public institution that teaches people electric, plumbing, carpentry and other trades. If you don’t want to start big, you could begin by offering a single trade course to get started and develop your footprint.
19. Environmental Consulting Company
Environmental issues and solutions to those issues is a huge area that Australians and CEOs are concerned about. They realize that climate change can have a major impact on their business results, and thus see it as important to address these issues now.
This business idea in Australia could be started for a low-cost as it is knowledge based (consulting), and you would work with existing companies to help them develop an environmentally sustainable plan. By working with their suppliers, employees, and current operations teams, you could pin-point areas where they need to improve and make recommendations on how they can recycle more, or change to a sustainable supplier.
20. Elderly Care Home Complex
The growing elderly demographic is something that Australia, along with many other countries are facing. With a growing elderly population, there needs to be proper facilities and care setup to make sure they are living a good life. Initially, a large investment would need to be made for the land, building, nursing and doctor staffing, as well as food and medical supplies.
However, if you want to raise money, this would be a very sustainable business that could make a lot of profit. People charge anywhere from $10,000 to $20,000 per month for care like this, and if you house over 50 people, that could be a great revenue stream. The baby boomer population is only going to grow more over the next 5 years as well.
21. Elderly Personal Service and Care Company
Another service to cater to the growing elderly population is a personal service and care company. If you want to help the growing elderly population, you can do it without spending a lot of money on start-up costs. By doing it yourself, you could advertise to local areas where seniors live and offer your services for personal services and care. This could range from a wide array of different services like delivery, companionship, transportation, etc. Setting this business idea up on a subscription would also be very useful for families with elderly parents, so they know they are being taken care of.
22. Women Leadership Development Business
As the research points out, women are reporting to have a tougher time achieving the management positions due to insufficient training programs and resources to get them there. This business idea could be a not-for-profit company that could give women the leadership development they need to be more educated than their peers.
Australia has the perfect environment for this because there are more female executives than many other countries, so support and mentorship is stronger and more widely available. This idea could be started with little money in the beginning.
23. Local Food Blockchain Tracking Company
People want to know where their food is coming from, especially if they are trying to eat local and organic only foods. But in the end, it comes down to a factor of trust, which some restaurants or grocery stores don’t abide to very well.
To battle this problem, you could setup a blockchain tracking technology that would be scanned through local organic vendors, so restaurants, consumers, and grocery stores can tell where it came from. This would have massive applications internationally as well, but Australia would be a great market to test this out. You could make money by licensing the technology to companies for a monthly or yearly rate, as it would help both the producer and seller establish better relationships with their customers.
Go from zero idea to launching a side business with this process and guide. A method and strategy designed to launch and operate a service side business.
24. Fine Art Investment Blockchain Tracking Business
Some pieces of art can be highly valued, and it can also be copied easily. This company would stop that corruption by tracking all the fine-art through a blockchain tracking system. Certain identifications could be given to specific paintings, and a website or app would be able to verify if it was the original, as only one registered item can belong to the code. Charging a fee per code generated could be a great model for this idea, and it would prevent the corruption and duplication of famous paintings, which artists hate.
25. Land Registration Blockchain Business
Another blockchain business idea that would work very well in Australia, and have growth for international expansion is a land registration blockchain transaction business. This would give people the power to buy, sell, and transfer properties with a simple click of a button online.
For this idea you would create a system that generates a specific code for each property and land title ever created in the area, then people would pay a small fee to be able to access and verify a change of title of land. This would eliminate a huge part of realtors’ fees and the weeks of time it takes city hall and other places to approve this process. Ultimately, making land deals more efficient would also make housing potentially more affordable, as developers can access land easier.
26. Edge-of-City Warehouse & Distribution Centers
E-commerce is a huge business that is growing in Australia as access to goods from China is closer than places like USA and Canada. However, within this business model, there is always the problem of shipping and distribution. If people live on the outskirts of the city or in more rural areas, it can be hard to deliver packages or it takes a long time.
This business idea would be to setup warehouses and distribution centres on the outside of cities so they could easily deliver goods to those usually hard to reach homes. A specialty delivery fee could be charged for the convenience of being able to get your packages so quickly.
27. On-Demand Contraception
This idea was started in the USA and has become really popular, with some investors in Australia looking to start the same thing. The business model would be the same day or 24-hour delivery of the contraception prescription the women were provided. Allowing them to avoid having to go to the pharmacy or doctor to get it.
Women are more and busier these days as they take lead in the business world, taking on more executive jobs, so they don’t always want to wait around at pharmacies for their contraception. If you have ever wanted to start a unique and new delivery service and app, this would be it. To get started it would not cost a significant amount of money either, as you could partner with other shipping companies to do that and you could focus on the app.
28. Mining Automation Dealer
As a mining automation dealer, this company would supply local and near mining companies and operations with the latest and greatest machines for mining automation. The industry is headed into a wave of technological advancements, and as a middleman, there is a spot to help people and make some money too.
By working with local mining companies, you could find out their needs for mining automation equipment, and work with other companies that produce it to supply it in Australia. With the way things are headed with international trade, these types of companies are always looking for ways to reduce costs and automation is a huge part of that. This idea wouldn’t take a lot of money to start, as you could source the machines and buy it with your client’s money before you set up your own retail store to showcase them.
29. Personal Privacy App
There is always growing concern among people regarding their personal privacy. They forget who they shared their email with, or how much information Facebook is really taking from their profile. To help solve this problem and frustration, you could develop an app that monitors all that activity for someone, so they can see who has access to what type of information, all in one place.
A one-time fee or monthly subscription could be charged to give people peace of mind about what is happening with their data. Australia has somewhat different privacy laws than other countries so it is the perfect market to test this idea out. If you have a passion for app design, this program could be a real hit, especially as digital profiles get bigger and more important.
30. Agriculture Automation Specialist Firm
Since agriculture goods and products are one of the largest pieces of the Australian economy, there is huge money to be made with this business idea. This business idea in Australia would work with farms and other growers to build in automation, so the plants and harvests could be made more efficiently and produce higher quality plants. Using technology like sensors and smart monitoring devices, a whole field or greenhouse can have consistent moisture and sun exposure levels, depending on the type of plant so they grow at the optimal rate and quality.
Farmers and producers would pay huge bucks to get you to set up systems and manage those systems as they would be able to make more money too. Initially, you could start this idea with a low amount of money, by working with one local farm or producer at a time to get started.
There you have it, 30 business ideas for Australia. Now that you potentially have a business idea, here are ways to protect your business idea.
If you are interested in getting more business ideas or want tools and resources to help you come up with amazing ideas, be sure to subscribe below.
I help the 9 – 5 worker, develop and launch a service-based side-business to generate a second income. Read more about my mission.
50 Best Small Business ideas in Australia for 2020
Do you want to start a business in Australia with small capital If YES, here are 50 best most profitable small business ideas & investment opportunities in Australia for 2020.
There are loads of facts and figures that make Australia exciting. Since it’s a tourist centre, it is not surprising that people throng the states to do one form of business or the other there. This is because of the human and capital resources that the country possesses.
As there are a lot of opportunities, the security of lives and properties are guaranteed and even though the population is not much, there are a lot of untapped potentials therein. The tourism aspect of the country is also a sight to behold, and definitely doing business here cannot be compared with doing business in some other countries.
Here are some very lucrative business ideas to look at;
50 Best Profitable Small Business ideas in Australia for 2020
The World Wide Web has grown into a huge market and it is continuously growing especially in this century that we are in. Therefore for families who have a love for website/graphic designing or any skill whatsoever, then it’s time to get your family online because this can prove to be a rewarding venture. With just a small capital, a little space at home, a good plan and careful delegation of duties among family members; the business will indeed soar than ever envisaged.
A rental business is easy to start and does not require you to continuously create/purchase and sell products. You can choose to rent out anything from vehicles, equipment and camping gear to party supplies, instruments and photo booths for events.
When running this type of business with your family, it’s important to establish roles and dedicate someone to manage all the office and administrative tasks, a different person to handle the marketing, and someone else to deal with your customers face-to-face and drop the rentals off to them.
Is your family full of great cooks? You may want to start a catering business together. Each person can offer something special and tasty to create a dynamic and diverse menu to offer clients.
Operating a catering business with your family has its’ perks because you know their abilities and what their strengths and weaknesses are in the kitchen. Even if some family members don’t want to actively participate in the business, they can invest in it and act as a silent partner to help get things of the ground.
- Specialty Service Business
If your family has always specialized in a particular trade or service, instead of simply working in that field you can try to start your own business together. There are tons of family-owned handyman, construction, auto-repair and landscape businesses and room for plenty more. Customers are more likely to purchase products and services from local family-owned businesses because they are usually more authentic.
Buying and selling various different items at a physical store location has worked out well for some families. There are so many diverse duties involved with running a brick and mortar business that each of your family members can play an important role in making sure everything runs smoothly.
Running a storefront comes with lots of responsibilities like choosing an ideal location, maintaining and securing the property, and earning enough profit to pay all the bills.
Running a restaurant with your family is quite different from running a catering business. There’s so much time, money and effort that goes into running a restaurant compared to many of the others types of businesses but if it’s your dream you shouldn’t let the challenge derail you from pursuing this type of business.
One of the top family business ideas has to do with food, because food is very important and everybody eats no matter how dire the economic situation is. This is one of the top-notch business ideas that have lesser risk of going wrong. Also, several successful food businesses run by family members are moving fine without any hitch.
The laundry business as it is called is another money spinner and good business idea that a family can venture into. Though this kind of business may not be exactly glamorous but it is undeniable that there’s definitely money in the industry.
Tutoring is simply all about teaching or sharing your knowledge with an individual or group of individuals. Thus, a tutoring business is simply the act of sharing your knowledge in return for a fee or profit. To start a tutoring business, one prerequisite you must possess is passion.
Event planning is simply the process of researching, planning and ensuring the smooth organization or flow of an event. The process of a full scale event planning and management service include: Conducting initial research, Creating an event design and concept, Finding a good location, Making arrangement for food from caterers, Doing the interior décor, Organizing the entertainment needs, Sending invitations to attendees etc.
Taking advantage of the internet popularity, you can also consider network marketing as part of the top family business ideas. You can put your tech, sales and marketing skills to practice and operate online. In fact, network marketing is the perfect family business because you tend to work together as a family, grow together and the entry barrier is very low, as it even creates more bond, and the dissemination of ideas among members of a family.
Livestock farming or animal husbandry is simply the process of breeding animals for consumption purpose. But in this article, we will be looking at the profit or business side of livestock farming. It is a known fact that as long as humans exist, there will always be need for food and the two major sources of food for mankind are crops and animals.
- Computer design services
In this age and time, people are always in need of services especially on a computer. These services includes but not limited to printing, photocopying, laminating, graphics designing etc. Thus, a family can specialise in this type of business and offer these services to clients for a fee. The return from this type of business especially if it is run by a family is very high.
- Biscuit/sweet making
Homemade biscuits and confectionery can be a great seller, this is because it tends to be more nutritious and is well prepared than the ones made in a factory. A family good in this type of making, can turn their home into one, Bake and package them well, and try reselling through a local gift shop. In fact People in your social network may buy batches for special occasions too.
People, clubs, organisations, clique of friends etc. are usually in need of cakes especially for special occasions and events. The making/decoration of cakes is indeed the business for this period.
As a family, with members who are very good in this type of business, you can set up a cake making business that will be operated by members of the family. This business though might be looked down upon by many families, but it is indeed a business that should be considered when looking for a family business.
Though it sounds strange, but it’s a business that a family can venture into. There’s great potential to earn extra money from looking after kids, but you’ll need to adore children (not just your own), have boundless energy and patience and in many cases must satisfy some criteria.
In this century, many persons are mostly in need of repairs/troubleshooting for their computers/laptops. A family understanding this need can set up a computer repair/troubleshooting centre. This service and many more can be offered to many people who still find computers complicated to maintain and terrifying if they go wrong.
Dog grooming refers to both the hygienic care and cleaning of a dog, as well as a process by which a dog’s physical appearance is enhanced for showing or other types of competition. This is a very vital part of the healthiness and wellbeing of a dog which increases its lifespan.
- Veterinary care
This career idea is hinged on the basis of prevention, diagnosis and treatment of disease, disorder and injury in non-human animals. The scope of veterinary medicine is wide, covering all animal species, both domesticated, and wild, with a wide range of conditions which can affect different species especially the pets.
This is both a pastime and a profession involving the act of a person walking with a dog, typically from the dog’s residence and then returning. This constitutes part of the daily exercise regime needed to keep a dog healthy. It also provides exercise and companionship for the walker.
This is an evolving career idea in the pet industry, which ensures that its practitioners and professionals groom pets especially dogs on their day-day lives and activities. This involves teaching the pet all that it is supposed to know from eating, drinking, playing, socialising etc.
- Pet Care Blogger-: In this era of computer age and technological developments; many pet owners are in constant need of information, guidance and training on how best they can take good care of their pets.
- Pet Insurance
Pet insurance pays, partly or in total, for veterinary treatment of the insured person’s ill or injured pet. Some policies will pay out when the pet dies, or if the pet is lost or stolen. As veterinary medicine is increasingly employing expensive medical techniques and drugs, and owners have higher expectations for their pets’ health care and standard of living than previously, the market for pet insurance has increased.
- Canine Behaviour Counsellor
This is one career path where a strong love for canines is a necessary prerequisite. Because, you’ll be spending much of your day interacting with dogs of all shapes and sizes, and many of them with very challenging behavioural problems such as biting, incessant barking, inability to be potty trained, etc. If dogs could speak, it could make it a lot easier to diagnose what’s bothering them.
- Feline Behaviour Counsellor
It’s an entirely great idea in the pet industry whereby the counsellor is concerned about cats and their behaviours. Basically this is a career field where a love for felines is a primary prerequisite. Many “cat counsellors” feel like they have the best job they could ever find, as they get to spend their days interacting with cats of all types.
With so many breeds of dogs, and many breeding lines that can produce a wide variety of traits within those lines, professional dog breeding is a complex and inexact science. It’s not a simple as paring up two purebred dogs of opposite sex and the same breed and letting nature take its course
It is a fact that without some basic training, most dogs are just plain and hard to live with. And without the help of professional trainers, many dog owners simply don’t have the skills or knowledge to manage their dogs. These Trainers teach tricks, family manners, show-ring exercises, and various skills.
Too many people, their pets are members of the family, and so they want to have photographs of them just like any other family member. And to others they want a memento of their beloved pet once the animal passes away, this is due to the fact that animals just don’t live as long as people, and so they’re often here and gone before you know it
- Mobile Petting Zoo
This is a new idea in the pet industry zoo, and as the name implies it is a zoo that’s mobile from one place to the other, and it contains pets only. It is specifically meant for kids it gives kids a memorable, fun, and educational experience for birthday parties, company picnics, school events, graduations, photo shoots, or any events where you want to entertain and excite children.
- Dog-show career
It is a fact that once in a while, pet owners especially dog owners usually want to display their dogs for people to see. A career in dog-showing ensures that the professional organises these shows in cities, towns etc. and also ensure that participants conform to the rules and regulations of the game. This career idea is nice especially with the fact that many persons are patronising dogs these days.
Pet Just as the name implies, pet boarding service is a type of service in which the professionals in the career take care of the pets in their boarding facilities. They take full care of the pets and transfer them to the owners or “would-be” owners of the pets when ready. This service is a very nice career idea and the professionals will be better off for it.
These professionals in this career, are typically who are in-charge of taking care of ostriches in the ranch. This career path ensures that the professional takes good care of the ostriches in the ranch. This is a career path that can be explored because of the opportunities inherent in it.
- Security dogs training service
Many families opt to use their pets especially the dogs for security purposes. Dogs for this purpose need specialised training. Thus, a career in security dogs training ensures that the dogs are well groomed and trained on how to detect, secure, and protect the families from intruders. This career is apt in this era as many families, homes and even companies need security dogs.
- Dog Obedience Training service-: Dogs which are one of the most popular pets in the world need training on obedience. This is because without obedience, the dogs will misbehave and might even harm the owners too.
Welding is an aspect that cannot be left unattended to in the oil and gas industry, in fact this can gulp up the bulk of more than half of what is been done in the industry. Thus, a welder Cuts, shapes and joins sections of metal, alloys or other materials using specialist welding methods.
- Commercial Manager
Every industry has a commercial team, likewise the oil and gas industry is also not an exception in this regard. Therefore, the commercial manager in this industry manages the Commercial Team and plans, develops and implements the Company’s commercial plans for commercial and business development activities.
“Customers are always right”, it is said, and the ultimate goal of any industry or company is the satisfaction of its teeming customers. This is because without the customers, the industry or company will cease to exist. Therefore a career in the customer service aspect ensures the provision of a timely support to customers to ensure that they are satisfied with the product or service and ensures that any complaints and queries are dealt with promptly.
There are several careers that an entrepreneur can launch in the value chain of oil and gas industry and one of them is to start publishing oil and gas magazines. Information is key in any industry and all you need to do to be able to gain ground with this type of career is to ensure that you have relevant contents in your magazine per time.
- Production of Lubricants
Another highly regarded, profitable and thriving career or business in the oil and gas business value chain that an entrepreneur who is looking to start a business should consider starting is a lubricant production company. There is a large market for lubricants products and it is a business that is open to entrepreneurs who are ready to compete in the industry.
- Servicing of Gas Plants
If you are an accredited investor or even a non-accredited investor, wishing to have a career in this aspect, you can organize group of friends that have the financial muscles to join you in starting a Gas Plant Servicing Company. Most big companies that are involved in the exploration and production of natural gas usually contract some of the jobs that they consider as not the core of their operations to servicing firms.
- Natural Gas marketing
Over time, natural gas marketers have become an important component in this industry because of the role they play between natural gas producers and the available market for natural gas. They could serve as the middle man between the producer and the direct end users or between the producers and retailers or other distribution companies.
This career perspective in the oil and gas industry provides the professional the responsibility for auditing compliance against well-defined company or industry standards in either technical/ engineering/ health and safety. The standards may relate to process, competence or information recording for example.
Yes, in any industry and most especially in the oil and gas industry, cooking is a prominent aspect that cannot be left unattended to. Therefore, this is a career in the industry too, as the chef ensures that he/she provides a quality catering service, usually on an offshore installation, or may be based in a plant or corporate headquarters of the industry.
- Crane Operator
In an oil and gas industry, the crane is one of the equipment that is mostly used. These professionals lift and transport heavy materials using mobile, tower or overhead cranes. In the oil and gas industry, they Operates pedestal cranes mainly for offshore purposes while also not leaving behind onshore purposes in yards, marine bases, etc.
In the oil and gas industry, it is also true that the professionals do not work on land alone. Therefore, whenever they are working onshore, the importance of the divers now come into play, as divers typically carry out a variety of subsea tasks and responsibilities including welding or carrying out inspections.
- Health and Safety Advisor
Working in the oil and gas industry is not only risky, but involves a lot of health hazards. Therefore, the health and well-being of professionals cannot be joked with, for this reason, the health and safety advisor not only advise workers on field about what they should do best, but also provide advice and guidance to the Company to help prevent accidents, injuries and health issues in the workplace and promote safe working practices on and offshore.
- Marine Engineer
Engineering is one of the careers that is mostly associated with the oil and gas industry. Marine engineering is in fact more prominent and important, as they are responsible for operating the propulsion plants and support systems on board crews, passengers and cargo vessels. These professionals are so critical and important in the oil and gas industry especially for onshore purposes.
- Materials Controller
The oil and gas industry gulps a lot of materials. In the sense that due to the nature of the industry, there are lots of materials that are usually utilised before/during/after operations. Therefore, the materials controller in the industry takes care of that and ensures that all materials that are used before the operations are properly put in place, and even after operations.
- Legal Services-: As a lawyer, if you are looking towards looking having a career in any country, then one of your best options in Australia as you can specialize in any field and you will thrive there.
- Online trading
The world today is a global village, and it is now easy to trade online (i.e. buying and selling). A family can venture into this type of business and trade their stocks on offer to people on an online platform. Sites such as eBay and Amazon make it easy for people to dabble in e-commerce.
If you start to sell other goods, focus on things you can get hold of easily, or are passionate about. And have an eye on the Christmas market: think about what will be selling well in a few months’ time. This is also a business idea for families to dabble into.
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