United Kingdom is one of the major economies of the world which drives many other economies as well. In 2018, in the first quarter, the economy grew by 0.2% and this growth is mainly provoked by the manufacturing industry which is growing at a rapid speed and after that the service industry is always a constant contributor to the GDP of the country. The real estate sector is a little sluggish but still, the country managed to develop at a certain pace.
From last year the change in GDP is 2.3% which is a really good indicator of the fact that the country is growing again after the downturn after Brexit and other global economic events. So, the budding entrepreneurs who are seeking opportunities to make it big in the UK with their innovative ideas should go through the most promising businesses ideas which are forecasted to make money in this market.
Here are 20 successful business ideas in the UK for 2020
1. Online Fashion Store
They say fashion keep coming back like history repeat itself. If you see today’s fashion, you can find similar fashion was there in aa few decades back. So, since fashion always keep coming back, why don’t you start your own online boutique if you have a knack for clothing and fashion designing? You can reinvent the clothes used in earlier days according to the taste and preference of your customer and in turn, you can create a niche of yourself in the fashion industry.
2. Organic or Herbal Food Store
People due to various health problems these days are again going back to their roots and trying herbal foods which are organic in nature. There is a huge demand for these foods amongst the upper middle class and rich people. If you want to set up your foothold in the food industry and want to make money out of it, then in the UK, herbal food store can be a good option to start.
3. Real Estate Business
In the UK, there are many students, young graduates who come from different parts of the world to live their big dream and achieve their aim. If you want to get into real estate business, then you can start ether agency services for the millennials especially or if you have properties to let out, you can start renting your own property and earn money out of it.
4. Retail or Online Beauty Product Store
Beauty or cosmetic products have a great market in the UK. If you can start an online store and also provide delivery services for the cosmetics, you can make a great deal out of it. You can take franchise of any particular brand which is popular or you can sell different beauty products from your online store.
5. Online Medical Facilities Business
Health facilities are well developed in the UK but you can make it a little better if you start an online platform where the patients or their family member can get an immediate solution in the time of need. You can also sell medicines from this site at the need of the hour.
6. Sports Academy – let’s Earn Respect and money together
If you have a dream to do something in the sports arena and you have adequate knowledge of sports as well, you can start a center at a small scale where you can teach the locals some sports and also prepare them for the better platform.
Also read:- Profitable Business Ideas in Sports Industry
7. Late Night Craving for Food
Online Night Food Delivery: People these days work at any time of the day as well as at night due to the globalization process and thus many people keep awake at night. Food cravings at night are common with the night owls and thus if you start a food delivery center which will work at night to serve these night peoples, you can make a great money out of it. Due to the night services, even if you charge a little extra for the food and delivery services, no one will back out to pay the same.
8. Interior Designing Business
Are you an interior designer? Have you done some work before in this field? If so, and if you are looking to make something of your own, then you can start your own designing store online, to get people who want to renovate and design their homes. This is a lucrative business and you don’t need huge expenses to start the same.
9. Mobile Food Joint
Mobile food joints at places where there are no restaurants far away can be a good option as people traveling and hungry can get food and you can earn money out of it. To start, you don’t need a huge food truck and hundreds of items on your menu, you can start with your own car or any vehicle and the food you cook the best. Mobile food trucks are much in demand these days.
10. Provide Security Services or Deal in Security Products
You can start trading security products like CCTV, biometric systems, etc and also provide installation services for the same products. You can also make a team of security guards and train them and get the job of security keepers in different residential or official buildings and earn commission on it.
11. Make money out of Jewels (Online Jewelry Shop)
Jewelry never go out of fashion so if you have a good eye for the jewels, start your online store, explore the market trends and get the best pieces for your customers and make a niche for yourself. You can start it with a small investment and as your customer base grows, you can also increase your collection.
12. Take Care of the little Kid (Baby Sitting Services)
If you are good with kids, you can start providing babysitting services to the parents who want it for the babies while they at work. You can also start building a team who wants to provide the same service but don’t know how to start and then earn a commission when you refer your team members.
13. Rent for the Travelers/Visitors:
There are many people who travel around and prefer home-stays than hotels. If you are open to different people from different culture, you can start renting your home for a short period to these travelers/ visitors and earn money from it. You don’t even need any initial investment for the same.
14. Mobile Car Service
While traveling through the highways, where there are no petrol pumps or servicing centers mid-way, the drivers face a lot of issues if their car or vehicle broke down in the middle. You can start a mobile car service where you can go and fix the issue whenever you get a call from the customer.
You can also start a mobile car cleaning service that is the car owner needs not to come to you to leave his car for a wash, rather you go and clean his car at his place or take it with you to provide the service.
15. Gift Shop For all Generation
Gifts are everyone’s favorite whether one is 8 or 80. So, you can open an online store where people can find gifts for any age group. Most of the gift shop only target the young and mid-aged people and the kids obviously, but the choices of gifts for the elderly people are very less. So, you can start something which will cater to their needs as well.
You can start the shop online and thus whenever you get an order you can get it from the market and deliver the same. This way, you don’t need a huge store to keep the gifts or a shop in the marketplace of the city.
16. Trade in Antiques
People with money and hobby of collecting antiques are many in the UK. If you have good connections with people who deal in antique, you can start your antique shop either online or as a brick and mortar shop to sell the antiques. The initial investment can be a little high but you can purchase on a cash credit basis as well.
17. Care for the wiser People (Elderly Care Centre)
After growing up, young people nowadays don’t live in a single place they have to or want to travel across the globe for work and leisure. But the parents who have to live in a single place find it difficult without anyone to depend on in their old age. You can start providing services to take care of these wiser souls and you not only earn money but blessings as well. Read more
18. Homely Food Away From Home
As many people are staying away from home, they crave for homely food. You can target a specific community whose food you can make exceptionally well and then cater to their food cravings. You can start food delivery services from your home and then expand it with the increase in popularity and customer base.
19. Taking Care of Pets (Pet Sitting)
In the UK, most of the people have pets whether dogs, bats or something else and they love them like a family member. But when they are away for work, they want someone to take care of them like their babies. Pets are sensitive so if you love them and know how to deal with them, you can start providing pet-sitting services to the people who need it.
20. You might be Next Amazon – Online E-commerce Business
If you dream big, you can actually make it big as they say, so why not starting an e-commerce store and sell products which people need and explore the market to analyze the products which people need often but are not readily available from other stores. This way you can create your niche and make good money out of the same.