Entrepreneurship is one of the foundations of the modern economy, and starting your own business can help you reach a completely different level of income. On the other hand, almost most of the new undertakings in one way or another bring losses, and some options can ruin a novice businessman. We asked experts about where they advise investing free money in 2022 in order to earn money without too much risk.
What are the most promising business areas?
Experts usually advise not to get attached to momentary trends – sooner or later they will become a thing of the past, while business should develop. Therefore, it is more important to determine what, at least in theory, can be promising in the medium and long term. Among the new directions, the following promising ones can be distinguished:
Working with marketplaces – Becoming a supplier for Amazon or Ebay is now very simple – there are already tens of thousands of them, the process is debugged and does not cause problems. Of course, selling something original will be more interesting (this is how you can find fans of your brand), but no one forbids reselling – which, in fact, is what most sellers do. For example, if you find the production of something little known in your city and start selling it on the marketplace, everyone will benefit – both the manufacturer and the seller;
Selling products (physical) during the live streams – it is a very good option in 2022. Twitch is growing and YouTube is focusing more on live streams. Every big platform is trying to test live streaming options. Twitch is the biggest indeed and you need to start focusing on it. What’s a simple recipe for success on the platform? Buy twitch live views, stream for many hours (to gather thousands of organic viewers) and stay engaged with the fan comments
Micro Franchises – Unlike franchises with large investments, some types of business can be opened for literally $1000 – for example, an order pick-up point for a transport company or a marketplace;
Children’s center – The problem with the lack of places in kindergartens is superimposed on the fast pace of life of parents and competition in the future labor market. Therefore, children’s centers rarely remain without customers – it is important to choose the right place and hire qualified staff;
Production of craft goods – Ordinary needlework (of course, with high quality and attention to detail) is now firmly occupying its market niche, and the ability to sell goods through social networks and marketplaces makes this type of business even profitable.
Franchise or own idea?
The franchise business has been developing in the EU & USA for quite a long time, but there is still no consensus among entrepreneurs whether it is worth investing their savings in this business, or is it better to organize everything on your own.
When buying a franchise, an entrepreneur buys a lot of what he will need to start:
- The right to use the brand and trademark;
- A business plan and the ability to buy everything you need to start (if it is not included in the package);
- Marketing support;
- Contacts of suppliers of equipment and consumables;
- Partner training, help and support at the start of a business, etc.