2019 has come to an end and marks the end of this decade. The Millennials are now parents; Electronic music is on the rise; There are 20-20 matches in Cricket and “You Can Order Anything, Anytime, Anywhere Online”. This convenience in buying things or availing the service has been possible due to “Hyperlocal Businesses”. If you are a millennial and looking out to start a business and earn some bucks, here is the list of “The Most Profitable Hyperlocal Business Ideas to start in 2020.”
Here goes the list…
Number One: Handyman Business
Believe it or not, this is the need of the hour! Have any Idea how many individuals don’t know how to change the electric bulb or don’t have time for that? This market in the US is growing at a rate of 5.7%, driving a total revenue of about $5bn.
With a massive demand in the market, being a handyman also has other advantages: Handymen get paid by the hour, and you can work with multiple clients at a single time. You can also partner with big home service marketplace businesses as a franchise partner. The marketplaces will take a small percentage commission in exchange for the number of orders.
On-demand hyperlocal handyman services are on the rise. Customers book an appointment when and where the service is required, and the local service providers in the area fulfil the request.
Number Two: Home Care Services
The home care services industry is also one of the fastest-growing sectors. The main reason behind this is the high demand in the market, and people save a lot of money taking the treatment at home rather than being admitted in the hospital. There are other reasons for the growth of this sector: The medical innovations, the ageing population, the positive attitude of physicians towards home care and the prevalent diseases.
Every qualified doctor or a nurse is eligible to attend to these services. The services include home care, home nursing and home therapy. The demand and the supply are matched through the online portal. ‘Customers in need’ book a nurse for a particular period through the application. The application lists all the agents (Doctors/Nurses) with their profession, years of experience and most importantly, ratings. This Hyperlocal business involves matching the two sides in the vicinity.
Number Three: Real Estate Agencies
This Industry is always on the boom. Just like food, everybody needs a place to stay: be it travellers needing accommodation for their trips or people renting houses for work or people buying their new homes, this sector always has demand. The flexibility in the work hours and margins earned in this business makes this attractive for brokers.
With the evolution of Airbnb and Booking.com’s, the way people rent or list their property has changed. The listings are given priorities according to customer ratings, and the convenience to list the property for the hosts has also been enhanced. The number of online marketplaces to rent out properties have been growing. We have seen new businesses coming up to cater to a very specific target segment like hostel rentals, villa rentals etc.
The industry growth stats in the US for the Real Estate Industry.
Number Four: Travel Agencies
With the increase in customer spending Index and airfares becoming affordable, travel has become one of the must-do holiday activity. The Millenial generation prefers to travel more than the deposit in the bank. The way people travel or make travel plans have changed. People now browse, explore and compare different travel packages without the influence of a travel expert. There is a rise in the number of online travel portals along with the number of travel enthusiasts.
Travel agencies cater to services like ticket bookings, hotel bookings, car rentals and other services. If you are an adventure enthusiast and good with customers, then becoming a travel agent would be an exciting opportunity for you.
Number Five: Gardening and Pest Control Services
Everyone loves nature and would like to maintain their outdoors, clean and tidy. The Gardening industry in the US is growing with contracts from homeowners, large businesses and hotels.
Talking about Pest Control; every household requires this service at least once every three years, and it has to be done by professionals. Earlier, finding the right person for this job was in itself a challenge. But now, with On-demand Hyperlocal applications coming in, the procedure to avail the service and receive a booking has been made easier.
Number Six: Flower Delivery
Weddings, Birthdays and anniversaries call out for flowers. Nobody travels for more than 35 mins to get those. A flower boutique in every locality is a need of the hour. Believe me in this time where Emojis and Emails have taken over the post, ‘Flowers’ is still widely being used as a present and for decorations. Starting this On-demand business requires very less investment but looks promising.
The number of Online Flower shops in the US have grown remarkably.
Looking for the fastest way to set up your own online flower boutique? Let’s Get Started.
Number Seven: Personal Trainer and Dieticians
If you have a passion for helping people look in their best shape, then this job is for you. This is a booming field. But, one can only be successful if one has a passion for the same and is willing to help out others. With the growing number of ‘Junk Food’ Restaurants around the place and obesity, this field has an increasing demand. This industry has a growth of 1.4% and total revenue of $9bn.
Number Eight: Food Trucks
Nothing makes people more exciting than Food. Earlier, people were hesitant about eating from a truck, but now there are festivals celebrated serving food in the trucks.
The advantages of food trucks as compared to the brick-and-mortar stores are the less investment cost, Time to starting the business and the portable kitchen from where you can serve food in weddings and events.
Number Nine: Catering Services
This industry refers to individuals catering to event-based services. If you have excellent cooking skills, a kitchen and a few contacts for transportation, then you can start your own catering service. Being a caterer, you can work for multiple clients at the same time. Also, if you maintain quality service not only in your food but also in customer service, then customer acquisition through word-of-mouth will bring you orders eventually.
The Hyperlocal business model for catering has become very popular where the caterers serving in the area are aggregated and customers can go with the one of their choice.
Number Ten: Auto Repair Services
Your car can break down anytime and anywhere. Finding the right mechanic for your particular vehicle model is always a difficult task. You can either get to do servicing, sell auto-parts or become a one-stop-shop for all services including any modifications or customizations.
The revenue and the profit potential in this sector is quite handsome. The service bills can range from $500-$5,000 on an average. This industry is affected by the number of accidents and the number of car purchases.
These are 10 low cost Hyperlocal business Ideas you can start with right away. If you think there is a problem or need your trying to solve and the target market is big enough then kick start your business today!
We at Jungleworks, look forward to help entrepreneurs build their startup dreams with us. Start your own Hyperlocal Business for free: Get Started