You have earned enough money and feel confident that you are financially capable of leaving your day job to start a new business venture. Some business opportunities are better than others, and you need to be smart about the kind of business you will go into before completely foregoing your more stable income. Here are some business ideas you can explore if you are dreaming of leaving your day job.
You can gain numerous benefits from investing in a franchise business instead of starting a brand-new venture from the ground up. For one, you will have the building blocks of a successful brand, and for another, you will have support from a bigger company that can pave the way for your success.
One example of a potentially lucrative opportunity you can explore is a property management franchise business. This venture will allow you to manage an impressive portfolio of rental properties in your area. Experts suggest that it has become safer to rent a property than stay at a hotel during the pandemic. With the rollout of vaccines in the United States, travel enthusiasts might be back on the road soon as well. Hence, the potential clients in this business is expected to increase in the coming years.
If you have a background in software engineering, app development, or technology in general, consider building your own app. We cannot deny that smartphones and devices are now necessary for the average American, which means that various types of mobile apps will always be in demand. Another variable to note is the rise of virtual reality (VR) software, which has become even more relevant in the COVID-19 pandemic. As time goes on, smartphone users will demand apps that infuse VR, and it will be a race for app developers everywhere.
You would be surprised by how much Americans need tech support. Many PC and laptop users are unaware of just how vulnerable they are to digital crimes, such as identity theft and hacking. However, not all manufacturers or brands have adequate customer support to help consumers deal with the problems they face in their digital information, privacy, hardware, and other tech-related issues.
If you have a background in technology, are someone who can explain complex issues in simpler terms, and have a knack for being patient when people around you are not, you might find success as a provider of mobile IT support. This might even require little to no capital since you will only be relying on your technical know-how and some transportation costs. The low-overhead business model ensures that when you start this business, you can only anticipate pure profit.
If you consider yourself a jack of all trades, consider starting a business that caters to odd jobs. Here is a list of things or tasks you can do for potential clients:
- Home maintenance tasks, such as painting the walls, carpentry, plumbing, garden work, and other tasks for handymen.
- Daily errands, such as walking the dog, getting some groceries, and cleaning the house.
- Assisting a client with their business so you can help them manage a garage sale, organize their books, manage their schedule, and other business-related tasks or clerical work.
Take note that these odd jobs are short term, that is, these are tasks that you can accomplish in one day, lest you expose yourself to long-term work with no tenure. As long as the task is legal and dignifying, can be accomplished in one day, and matches your skillset, do not hesitate to accept these tasks for a fee. The more skills you have, the more types of tasks you can take on.
Social media management
Perhaps you have an intensive background in marketing. You may even have a strong on social media presence and know the ins and outs of all the most popular platforms. If so, consider starting a social media management business. Given that all businesses need some level of online presence if they want to experience even a smidgen of success, businesses will always demand experts who know are proficient in digital marketing and social media. Consider lending your expertise to small businesses and be surprised by just how much brands are willing to spend to get ahead of the social media curve.
Some business opportunities are more lucrative than others. Be aware of the trends, and check which market you can enter to make enough income to quit your day job. Good luck!