Being a pioneer means doing something that others might have heard about it but could never try given the risk and uncertainty involved. There are many business ideas lying dormant waiting for that one person to pick up and make a business revolution.
After analyzing closely, it is found that it requires only one person to take the lead and the rest follow it. The person taking the lead becomes the pioneer and earns the benefit of being the first.
There are many untapped business opportunities that require business exploration, investment, planning, execution and growth. People often find them boring or not so attractive subjects. Take the lead, research into them and go for it to make million dollar returns, surely many will follow it.
This article is all about those ten business ideas that will thrive in years to come and one can make great returns from it.
Ten Untapped Million Dollar Business Opportunities are as follows:-
1. Electric Vehicle Charging Station
The United States has seen close to 80% growth in purchase of electric vehicles in the last few years. Close to 300000 units of EVs were sold in the United States in 2020. EV market accounts .65% of the total car market in the USA.
The figure has been rising every year. There are variants in electric cars like hybrid, plug-in and all electric. Their overall sale crosses 5 million mark as of 2020 since its introduction.
One can say that the market for EVs is bright. The future projection says that by 2025, EVs will constitute 10% of the global car sale while this figure will rise to 28% in 2030 and 58% by 2040.
The future is electric and therefore electric vehicle charging stations will replace the traditional gasoline stations. This business requires a lot of study and planning and an investment that aims to take returns in the future.
2. Kids Toy Drop Shipping Business
Drop Shipping business has become quite trending since the rise of e-commerce business platforms. In this, one doesn’t need to keep the stock of products offered for sale. Instead, when the customer orders a product, the business just buys it from the third party and ships it to the customer.
Kids toy drop shipping is one such business idea. Your niche will be toys, go ahead for further research. Select a supplier with whom you can collaborate. Do the due diligence properly as you will remain dependent on them.
Do competition research to know your competition in the niche and market. You also will require a platform. Go for an online e-com platform with your own website portal. You can also rely on shopify. As your revenue grows, you can scale your reach through apps.
Lastly, your target will be customers. Use social media platforms like Facebook to target your potential audience. Kids toy drop shipping has huge potential to make good returns.
3. App based Medical Tourism Facilitator
Medical Tourism Facilitator is the person who helps and assists you in traveling, staying and getting treated for your medical ailment. The additional factor here is an app-based facilitator.
Invest a bit more and you can have your app working. It is similar to a website with little bit of more complexity. Get your app designed and built based on requirements. You can advertise on various platforms to your potential clients.
Being directly connected through an app makes the job of your customers easy in connecting and getting informed. Since people are having mobile phones in hand, opening an app and booking isn’t hard.
Design and build it in such a way that is easy to navigate and smooth to use without any hassle. Ensure that all important information and tasks are performed using the app.
4. App Based Private Car Sharing
There are certain apps like Car2go, Zipcar and others where you can rent your private car for others to use. You will be paid in return including the fuel used during the car use. Though there are now many apps in the market that cater to this business idea, yet this has not become very popular and global.
One can exploit this space well by building a private car sharing app and market it in a way that it sounds very appealing. You need to be best in service whether it is working on the app or your overall service.
Use marketing and ads in order to target your audience. People who have a car but generally commute through public transport or they travel very less or if they have another car or a bit old car, they are the best target for your business.
Develop a plan and build your business around it. There is a lot to gain in this.
5. Aerial Photography using Drones
People who appreciate art are fond of photography. Earlier, photography was limited from land and sometimes using air planes but that too was very costly. Now with the advent of drones, clicking a photo from the sky has become quite easy.
This drone photography is used mostly to cover monuments or structures or even landscapes that cannot be covered from land. For this, you need your camera and a drone setup attached with your computer or smartphone.
It is not very expensive to get a drone. You can click pictures of various locations, monuments, infrastructure, landscape and much more using the same. It can be sold on various platforms in print or digital form.
You can also do photography for your customers who require drone photography. This business has lots of scope when you dwell deep into this.
6. 3D Printing Business
3D Printing is another such interesting subject that is gaining traction in the recent past. For this you need the printing material, the 3D printer and your computer to make designs.
You can print a lot of things at ease like medical instruments, toys, decorative items, prototypes, educational designs, in engineering projects and many more.
Even large scale designs are being created using 3D printing. But for commercial purposes you can choose certain niches that are in demand and can generate revenue. It will only cost you a few thousand dollars that will include your printer, raw material, computer along with a platform where you will sell your products.
7. Find a Tutor Mobile App
Finding a tutor for your study subject sometimes becomes very difficult. You go here and there, talk to your friends, enquire with teachers and neighbors. But suppose if there’s an app where you can go and search for a tutor near your location, won’t that be easy?
Wyzant App is one such example of this kind where you can search your tutor of your choice. This app is still in its growth stage and will take time to capture the big market. You can as well go for similar ideas.
It is not necessary to replicate but to add something more interesting and build your own app that can help people find a tutor. People struggle a lot with this and if an effective platform can solve their problem then it can be an instant success.
8. Delivering Packages using Drones
You must have certainly seen videos where a pizza box gets delivered to the customer using a drone. To avoid the chaos on the road, this new technology is not only cool but time saving and effective when it comes to timely delivery.
The future of delivery at least in a limited area will lie with drones which will be used to deliver certain light goods of low weight. Certainly, food packages from fast food stores.
For this, you don’t need to open a business of certain goods but you can start a B2B business of rendering drone services to these businesses. This can be a rental or purchasing service where you will render drones and other ancillary services like maintenance, training, programming, etc.
9. Capturing Carbon Emissions
There are 17 global projects in the works where carbon emission is captured and stored in order to reduce carbon emission that leads to climate change. The target here is not small centers of emission but big industrial centers like cement manufacturing plants or where metals are melted.
Using various methods like absorption and adsorption, carbon dioxide is captured and stored for a later process in order to neutralize it so that there is net zero emission. These projects are very ambitious and one can become part of it in some ways.
10. Vertical Farming
Vertical farming is growing crops in stacks or in layers one above the other with some space. The main idea is to reduce the usage of land and also to find an alternative for lost agricultural land which is now used for residential purpose.
There are 70 acres plus of area used for vertical farming. The idea was first conceived in 1999 and execution since then is in progress. One can do more research and find ways to effectively implement this and make it into a business of profit.
Vertical farming is suitable for urban places that have buildings and infrastructure. Most of the farming is done in building, tunnels, ship containers and like structures. Future infra can be designed such to have a place for vertical farming. One can be part of this business in any of the ways possible.