Financial advisors will tell you that it is essential to have investments on the side to increase your earning potential. While employment has been the primary source of livelihood for most individuals, having a side venture or investment has been one of the main contributors to improving the quality of life. Think about it, you become your own boss, make your schedule, gain management and administrative skills, and still earn from those ventures you are passionate about. If you are keen on breaking away from the mold, this article is here to point out some of the smartest things to invest in. You need to consider your surroundings and the unique needs that the potential clients have and seek a solution. While some may require a large capital base, several are not capital intensive, offer less competition, and less risky, like supplying flowers to a hospital. Here are some of the smartest things to invest in and improve the quality of your life.
Auto Repair Service
Mobility from one place to another has always been a necessity and provides an opportunity for you to invest in auto repairs. The market for auto repair services is readily available for any skilled individual in the field or who wishes to invest in it and is among the smartest things to invest in. While the venture may be capital intensive, one of the best ways to invest in the market is by going mobile. If the costs of having a physical store are too high, consider offering mobile repair services. All you will need for this is a car and your toolkit. If clients need a physical location, consider using your garage and transition it into a repair shop for the engines, windows, and other services.
Car Wash Services
Car wash services is a thriving business that you can consider investing in for major returns. Due to the high number of vehicles around, several clients will need their cars cleaned professionally. You can offer services such as buffing, engine cleaning, interior cleaning, waxing, upholstery, dusting, and under wash. Consider purchasing the best washing machines to ensure that your services are exemplary. Conduct your research and select a location that is easily accessible with the required infrastructure, security, and market. You should also ensure that you have the right people with adequate training to exceed the customers’ expectations.
Information Technology is the key driving force in the world today, with various technologies and innovations coming up. If you are passionate about gadgets, networking, remote connectivity, and general IT, you should consider investing in IT Support services. While you may not have the necessary skills to offer all the IT services required, invest in a knowledgeable workforce in the various IT fields. You can offer consultancy services to companies with no functional IT departments or those requiring remote support. While IT is constantly changing, it is among the smartest things to invest in for posterity. Gaining IT skills will also help improve the quality of your life since it allows you to resolve technical issues that would otherwise require you to incur expenses.
Most organizations today encourage the employees to take breaks and at times offer paid vacations as appreciation for the services they have rendered. Research has proven that this strategy is also effective in improving the overall productivity of the employees. You can choose to invest in vacation rentals to provide accommodation for those individuals who are out on vacation. If you think investing in this sort of business is too expensive, how about renting out other people’s apartments and homes? You can invest in a site and advertise the short-term rental houses and apartments to those seeking such services.
Personal Trainer and Wellness Coach
It is important to maintain your physical, mental, and spiritual health to improve the quality of your life. Personal training and wellness are among the smartest things to invest in today. With several individuals dealing with lifestyle diseases and the need to improve their physical health, investing in personal training and being a wellness coach is a good way to have that extra cash.
This investment opportunity allows you to not only help your clients achieve their body goals but also helps keep you in check in terms of physical fitness. Consider converting your garage if it is spacious enough into a training facility or rent out a space to accommodate your clients. You can also start your fitness blog, where you can share meal plans and different workout routines. If you have no adequate space, consider offering an at-home fitness business where you can decide to conduct the workouts outside or opt to go to the client’s location.
Real estate has emerged as one of the most lucrative and profitable ventures you can invest in. Owning a home helps improve the quality of your life and eliminates the continuous cycle of renting an apartment. You can never go wrong with real estate investments, especially if you take time to research the pricing, locations, and sound advice from agents. Apart from owning a home, you can also decide to start a real estate agent firm to help those seeking to buy houses or sell. House flipping is another way to invest in the real estate industry. House flipping allows you to purchase homes at lower prices, upgrading them to increase their value and reselling them to profit.
Are you passionate about interior design and decor? If this is something you would love to do as an investment, it is a potential business opportunity. Individuals who are involved in house flipping constantly require the services of experts in home improvement. You will also be on the real estate agents’ and property management companies’ contact lists. Investing in a home improvement company or business allows you to offer exceptional designs and art which offer a therapeutic feel for the home. Due to the increasing demand for exceptional interior spaces in the real estate industry, you will be able to make profits in this business, which improves the quality of your life.
Having fun and enjoying different sceneries while visiting new places helps improve the quality of your life as it reduces stress and frees up your mind. While seeking adventure is a beautiful and enjoyable thing to do, you can also decide to venture into adventure planning as an investment idea. The beauty of adventure planning is that you also get to be a part of the team, from choosing the destination, planning, organizing, and executing the adventures. Earning money while having fun should be one of the best investment opportunities that an individual can ever have since, in addition to the satisfaction, you also enjoy mental freedom and get to visit exotic places.
Handmade Jewelry Store
Selling jewelry is a profitable venture that you can invest in if you love jewelry and beauty. The fashion and beauty industry has been among the best performing industries in the world as people seek to enhance their looks. While you have the opportunity to earn money from selling the pieces of jewelry, you also get the satisfaction of having helped your client look good. While you can decide to have a physical store, the online platform provides a good marketplace for you to meet potential clients with no restrictions regarding the physical location.
You should have a clear marketing strategy to beat the competition out there and sell only authentic pieces. Creating diverse and unique pieces by becoming a custom jeweler is a good way to implement product differentiation in the venture. It is important for you to conduct market research to know whether your customers prefer local or exotic jewelry pieces.
Clothing and accessories offer a good investment opportunity for those passionate about the fashion industry. Selling luxury goods that are unique and serve a unique clientele helps you carve out a niche for yourself. The boutiques often have higher pricing as compared to other clothing and accessory stores. You should be strategic in picking the location for the boutique since you will need a place with high traffic to ensure that you have consistent purchases. When investing in this business, consider the different brands you will be dealing with since they have different price ranges.
Investing in stock trading is not a new concept, but it is among the smartest things to invest in to increase your quality of life considerably. This investment option allows you to save money in the long term and opens you up to dealing in shares. This investment option allows trading online from the comfort of your home, which also helps eliminate unnecessary expenses and increase your profit margin.
Food is a basic need that is that also provides a lucrative business opportunity. While opening a restaurant may be a viable option, owning a food truck carries more benefits than being confined in a given location. The food truck allows you to access different strategic locations without requiring your customers to travel to a physical store. The food trucks are available in different sizes and models with inbuilt features and equipment to help in preparing and serving the food. They also give you the opportunity to interact directly with the customers hence allowing you to build a personal relationship with them. You can choose to specialize in only one type of food or a variety, and if you are enthusiastic about natural foods, this is your opportunity to not only improve your quality of life but that of your customers as well.
Substance Abuse Recovery Center
Many individuals are suffering from substance abuse which makes it hard for them to lead a good life or make sober and meaningful decisions in life. A substance abuse recovery center is one of the smartest things to invest in, especially if you think about giving back to the community. Invest in qualified personnel who can assist in making this venture a success both professionally and financially.
Child Care Services
There is a lot of pressure for the parents to provide the best life for their children and cater to their education, health, and social upbringing while they pursue their goals. Some of these parents may have pressing schedules at work which means they have to leave their children at home or daycare centers as they go to work. This setting presents a lucrative business opportunity that you can choose to invest in. The services you can offer with this initiative include education and tutoring, especially if you have a passion for children-oriented education.
Cosmetic Dentistry Services
Cosmetic dentists deal with restoring an individual’s smile by improving the appearance of the patient’s teeth. The procedures performed by the cosmetic dentist include dental bonding, which helps repair cracks and tooth decay. This business investment is particularly profitable if you have a background in dental practice.
Home Care Services
Offering home care services is a good place to invest in if you don’t mind working in homes. There are cases where individuals who are sick or elderly require close attention and monitoring. With employees or staff who either have a medical, care, or hospitality background, this is a lucrative business idea that will help improve your life while it touches those in need. Cases of elderly individuals who require in-home assistance are only bound to increase, hence presenting the business investment with continuity. The business venture also provides diversity in that the elderly require help in generally all areas, including groceries and errands. It, therefore, means that your staff doesn’t necessarily need healthcare in their background to assist.
Mattress Sales and Recycling
The best mattress store not only provides new mattresses but also offers to recycle the old ones. Mattress recycling is emerging as one of the smartest things to invest in, especially with the continued calls for waste management. The business is profitable and highly appreciated since it supports environmental preservation. So how do you earn from this business? As a recycler, you will charge clients to accept the old mattresses they bring, and later on, you also get to sell the recycled materials. This business initiative will help the quality of your life since it eliminates pollution and turns the recycled materials into reusable materials while earning you money.
Medical spas offer anti-aging treatments that are generally considered non-surgical, although they used to be a specialty for doctors. Depending on the state you reside in, you may be expected only to own and operate the facility if you are a qualified physician. The spas deal with several treatments, including treatment procedures for sagging skin, wrinkles, and sagging skin, among other conditions.
The above are some of the smartest things to invest in if you are considering an investment idea. While running a business needs commitment, you can choose to hire qualified individuals to help you run the investment ventures. Conduct in-depth research on the requirements and how to go about the investment ventures from professionals in the field to gain more knowledge and greater success.