Starting a Small Business in Australia: Five Great Ideas for 2015

Published : 12 March 2015

Starting your own business is one of the best opportunities for gaining financial independence and developing your own idea. You can choose to buy an existing company or start from scratch. Buying an already established business can simplify the task, particularly if you don’t have startup experience.

When it comes to buying a company in 2015, which industry offers the most lucrative opportunities? Knowing what niches to look at can simplify the task of buying a profitable company.

Several fields seem to be rather promising, so if you’re thinking about buying a business in 2015, you may want to consider the following five possibilities.

Organic Cosmetics and Green Products

The green trend is becoming more and more popular. Organic and natural cosmetics, food supplements and other similar products will continue seeing expansion in the years to come. The time is just right to hop on this bandwagon and start developing your business.

Statistics show that both younger individuals and buyers over the age of 50 have a particular interest in cosmetics that are free from chemicals and enriched with natural extracts. In order to be successful in this field, you need to find a company that already has a solid clientele. It’s up to you to decide whether you want to have a brick and mortar location or an ecommerce website.

If you opt for a physical store, make sure that it is conveniently located. The rule is very important for small business owners that want to experience significant growth in the future and reach new target markets.

Technological Services

The IT field has seen a lot of expansion over the past few years but its growth is not finished yet. There’s a lot of room for new players in the field and if you are passionate about new technologies, you’ll certainly enjoy this business idea.

According to the Australian Bureau of Statistics, 7.3 million households have had internet access in the end of 2013. More than 90 percent of all Australian companies have internet access and 42 percent of these businesses have a corporate website.

This is a huge pool of potential clients in need of technology and IT services. The sector is very diversified. You can focus on hardware maintenance, system administration, website development or even search engine optimisation service provision. Find the right sub-niche before buying a company and you’ll guarantee the success of your small business right from the start.

Specialised Travel Services

Though the number of individuals looking for travel and tourism information online is growing, the vast majority still prefers the services of a travel agent when it comes to booking the perfect trip.

In the 2013-2014 period, internal tourism consumption increased by 3.4 percent to reach a volume of 39.90 million Australian dollars. The number of Australian tourists visiting foreign destinations also increased by 3.6 percent, the Australian Bureau of Statistics reports.

The more specialised travel service you come up with, the easier it’s going to be to establish your market position. Think about organising trips to exotic destinations or catering to the needs of particular groups of tourists. Adventure tourism, for example, is one rapidly growing field.

Health, Wellness and Fitness

Just like organic cosmetics, health and fitness products are also providing a lucrative business development opportunity. This field is also really diversified, which means that you have dozens of business ideas and possibilities to choose among.

Always do your market research before joining the fitness and wellness industry. Though it provides lucrative opportunities, there will be a lot of competition. When buying a business, look for an opportunity that has its loyal customers. You may want to keep providing the same services and using the experience of the staff rather than introducing rapid changes. Once you gain a better understanding of the field, you may attempt growing the business or looking for new development opportunities.

Healthy Food and Fast Food Alternatives

Healthy fast food – that’s another lucrative business idea. It seems that many possibilities in the health and green product niche are attracting entrepreneurs. There’s a reason for the popularity of such businesses.

Busy professionals need a quick and convenient dining option. At the same time, many of these individuals are moving away from typical fast food and looking for something a little bit greener and a little bit healthier.

A healthy fast food joint will probably be one of the most lucrative 2015 small business ideas. Millennials are very health conscious and they lead a very hectic lifestyle. Healthy sandwiches, juices and smoothies appeal to this demographic. The investment needed for getting started in the field isn’t that significant and the growth potential is huge. Once again, a strategic location will be the key to corporate growth. Having a well-established business website will also be quite helpful.