Retail Businesses are still the lifeblood of the economy, though more and more people are moving towards online businesses yet there is still a huge and real opportunity still lying in the traditional retail business. In fact the bigger online businesses the bigger offline businesses have to grow to service online businesses in the physical world.
Following are the six best retail business ideas which will require you to get your hands dirty and get into it head first. However, the returns that you can get from them are far exceeding anything.
1. Window Cleaning Service
Most large offices have a window cleaning service to keep their windows looking clean and sharp. However most smaller businesses of self-employed entrepreneurs may not have the resources to hire bigger contractors to have their window cleaned. Also it is also not profitable for a larger contractor to install a machine to clean windows on smaller buildings. The way this works for smaller businesses is to hire vans, install water tanks and pumps in the vans and use a hose pipe extenuation for cleaning. This is something that I have seen work excellently in smaller locations. Huge opportunity there.
2. Solar Energy Export
This is a no-brainer – if you look at developing third-world countries like India, Pakistan, Bangladesh, Sri Lanka, Nigeria, Kenya and other smaller developing nations. They have a huge demand for energy, also due to a high oil prices globally the cost of producing electricity is relatively high in these nations. A way to get around this is to install solar-cells (usually a self-installing kit sells for around $2,500). This would take care of the needs of an average house hold in these nations taking that household off the grid – the average electricity bill in some households is unto $100 per month. So the kit pays for itself in 2 years, but works for you for 20 years. Excellent opportunity there.
3. Nihari House Chain
This is a very tight niche for food catering to a select class of immigrants from the Indian Sub-Continent. Since this is such a tight niche a higher premium can be charged. Ideally the best market for this is in high concentration immigrant areas like New Jersey, Toronto, Mississauga, London and Manchester. Also this is a misconception that you need to find a good cook to create good food. This misconception has certainly been blown to bits by McDonalds and Burger King. They are profitable businesses though they may not be the best burgers, you want to create a repeatable business that people can identify with and good food, not the best food in the world.
4. Consultancy for Tenders
This is also a very tight niche yet still commands a premium due to the lack of such services. Most government offices around the world purchase equipment through tenders. ‘Tender’ is a process where by numerous companies apply to fulfill a requirement (e.g. buying computers, or creating uniforms etc) for any company that needs them. However most companies who can fulfill the requirement don’t know how to go about it. This creates a gap which can be filled by someone anyone who can advise the company on how to apply for the tender and give them bigger business through helping them fulfill government tenders
5. Kebab Fast Food.
We have burgers, coffee houses, donuts for fast food chains. What we don’t have is speciality kebab fast food chain. Curry is now the number 1 selling food in the UK, it has been consistently outranking fish and chips for a decade now, however there are no curry fast food chains. Certainly curry is not a food you want to eat in your car, however kebab is very close to a burger pattie and is something that you would be more comfortable eating in your car. This is again a specialty food item which would work best in an area of majority immigrants. See suggestion 4.
6. Millionire-maker TV Show
This is an idea that is clearly in the Cracking the Millionaire Code by Robert Allen. A mix between American Idol and The Apprentice, this is a reality-based TV show which would get 20 people, put in groups of 5 competing for the ultimate reward of a million dollars invested in their business at the end of 13 weeks. Their 12-week task is to come up with a workable viable business that is ready to go to market on the 13th week.
The winner is based on an actual number of dollars earned. The team that makes the most money gets the million dollars. The teams that don’t make the most money still end up keeping their businesses. Over the 12 week, they will be given minor tasks leading them towards the bigger goal and the team that achieves their task best, based on viewer votes will win additional infrastructure support for their business. Any movie/tv series producers, filmmakers this is for you.
7.Organic Grocery Store
This is a no-brainer. As more and more people become aware of the costs of using pesticides and inorganic fertilizer in the production of food, organic food is becoming more and more popular. This is a retail business idea that could change the world as Walmart did in the 1960s. The investment up front is huge however the returns are going to be much better as well since it will be a specialty, novelty store and has the potential of commanding high premiums.