10 lucrative business ideas in Sri Lanka to start in 2020

10 lucrative business ideas in Sri Lanka to start in 2020!

Are you looking for business ideas in Sri Lanka and thinking about starting own business but having doubts on for what extend you could succeed or what kind of a business that suits you or even what businesses can make good profits! It’s a question you should not be asking further. Most of all the entrepreneurs started small, took a risk and faced challenges.

When it comes to starting own business in Sri Lanka, people tend to think it’s a difficult process and cannot thrive by their own. Have you ever thought of people who have succeeded in their industry and how they did it? It’s not rocket science and anyone can start a business in Sri Lanka on their own! Whether you’ve just finished school, fed-up with your job or even a housewife who would like to make money on their own, then you are at the right place!

When it comes to selecting a business opportunity or adopting a similar business type for your skills and talents, first of all, you need to make sure you have an ideal business opportunity around you. Below is a list of small business ideas in Sri Lanka. Starting small can give you time and experience you need to grow your small business into a corporate if you want. So, if you want to start a business and ready for it, then go for it! We are here to give you an outlook on what kind of business ideas are suitable for 2020 and what thrives through Sri Lankan business industries.

List of business ideas in Sri Lanka

Getting to know what trends and easier to start and what gives you the best profits are some of the benefits you can add to your basket before you decide on your business. A business can be divided under small business, corporates or even under online businesses. With rapidly growing technological environments, having an online business has opened many business opportunities in Sri Lanka. Let us have a look at some of the popular, easy and profitable small business ideas in Sri Lanka which you can adapt!

Ecommerce:

Sri Lanka has begun to reach the peak of eCommerce. According to the daily news business article published in 2018, Sri Lanka’s eCommerce business sector was predicted to hit $ 400 million by 2022. This growth is a great business opportunity for sellers, to reach out locally or even internationally through online stores. Even if you don’t have any products to sell, you can earn by dropshipping, which allows you to sell products which you don’t acquire or store, but getting a third-party to fulfil the orders. All you need is to get customer orders, send the details to the dropshipping supplier! Then they will prepare your customer’s order and deliver it on behalf of you. Contact SFM IT SOLUTION to create your automated dropshipping site! Also, fdinews provides you to list your products and market it to your target market without a hassle. Therefore, you don’t have to worry about the costs of having your own site and maintaining it at the initial stage.

YouTube:

YouTube offers you many ways to start your business by being the world’s largest search engine with over 3 bn searches per month. To be a YouTuber you wouldn’t need much technical background. A bit of commitment and creativity will do the magic! According to ForbesRyan Kaji, an 8 year old YouTuber who earned $26 million by doing videos about science experiments, music videos, skits, challenges, DIY arts and crafts and even pretending to play have been listed as number one earners for 2019.

Your talents for YouTube is a money-making portal. Channels like HandiworksApe Amma and Chanux Bro are some of the top channels in Sri Lanka, who thought of letting g their passion into a career path. With each view, you earn income and if you have the commitments and the interest you can be a sole profile holder and start your own business. If you are an expert in making food or cake deco’s or high tech geek, get your time on making videos to earn.

Freelancing:

Making money via freelancing has become a rapidly growing trend. If you have the technology, the design or the needed writing skills, you can be earning through websites such as FiverrFreelancer and Upwork. With proper marketing techniques, you can earn and get freelancing jobs locally or even internationally. All you need is to showcase your experience and provide sample works. Even in Sri Lanka, many companies outsource their tasks to freelancers to save time and hassles. You could also register with fdinews.info for local markets.

Being a freelance salesperson is an ideal side hustle for an experienced salesperson and with your availability, you can do the sale according to your own style and pace. If you are good with sales and want to earn more as a freelancer, you can grab this opportunity too! You can now join with fdinews.info as freelancing salesperson; email your CV to contact@fdinews.info

Instagram Influencer:

Having a good Instagram profile with a high number of audience is also a way to make money on your own. This allows your followers to see your activities clearly and you will be able to gain good credibility. All you have to do is get as much as followers possible and you will the power to direct other’s purchasing decisions with your knowledge and the audience you have.  You may check out these accounts and see how much they influence on businesses to make their purchases: Tech @chanuxbro, Lifestyle @gaiakodithuwakku or even @ianuradhas for travel and food. They can make income by linking and brand collaboration by sharing posts and being an influencer for the product they use. Hence, doing something you love and making money is an added advantage to your business.

Online Tutoring:

Online tutoring/coaching, especially for higher educational aspect, are highly demanded with the current technology. This can be done as a part-time basis as well. An online group tutoring for part-time students or even coaching a DIY handcraft online is a good solo business if you like coaching. You may also consider joining tutoring sites such as UdemySkillshareTeacherOnJust Learn. You could either build your own website to teach students or even you can sell your courses to educational sites such as Thinkific or Teachable.  So, being able to teach and making a bit of commitment toward it, you can earn easy money and educate others as well!

Photography:

The perfect career is something you love doing. Photography comes with passion. Having your own photography business is a kick start to your passion. Weddings, private events and many options are available if you staring photography. A creative website and listing your business with fdinews.info will bring you more leads even you are new to the field.  Further, you could also register with sites such as iStockPhotoShutterstock and Gettyimages and make money. With them you could upload your photographs and if someone purchases, you get an earning for your photos. A camera click can earn money if you know where to start with!

Food Business:

Ideal for part-timers and housewives. With many fast food delivering services across the island, you’d be delighted to know how effective and profitable this business is. Many food companies such as McDonalds or KFC uses their own deliveries but also uses App-based delivery services such as Uber or Pickme! Currently, there’s an increasing demand for healthy food than junkies. Homemade or gourmet food service is ideal for a food business opportunity in 2020. If you cannot afford to run your own website, you can list your food items with fdinews and it only cost a little to register yourself. This will allow your customers to know the food items, its prices and all the relevant details about your business. So, if you can get the food ready and get it delivered, this is one of the easiest ways to start up a small business in your area.

Fitness Centre:

The most famous and trending industry within young men and women.  With the least investing and getting the necessary licences you can start your small fitness centre. You can check your local fitness centres for ideal membership fees or for Sri Lankans the best range is Rs 4000-6000 per month unless it’s a luxury fitness club. Health matters to many of us, so having a fitness centre in the local area are a win-win to your business as well. Between 1k to 10k people search for ‘gyms near me’, and listing your business online will allow you to be more visible through the fitness industry.

Beauty Salon:

Sri Lankan salons have a high demand in both genders and according to ‘salons near me’ keyword searches, between 1k to 10k people search for salons near them. It’s an added advantage if you wish to start your own salon locally! To operate a salon, you need a recognized certificate of a beauty course. City and guilds beauty courses are most recognised and affordable, where you can start off the diploma with around Rs 50,000. You can start your beauty course at either Dreamron College of Art Beauty or International Academy of Beauticians (Pvt) Ltd for a recognized certification.

These courses carry out for 6/8 months and then you can start your own salon. Hair and beauty is a hassle-free way to earn money while doing something you love. The salon industry is ideal for women who would like to increase Sri Lankan female labour workforce, which is currently 44.26% and 43.14% of them are self-employed and females in ages 15-24 provide 23.06% labour force participation rate from our population according to the Trading Economics 2020. Getting this business going is ideal to add beauty to your business.

Travel Affiliate site:

Within the fast-growing industries, the travel industry is at the top. Approximately over 6mn people have searched for ‘travel’ in google over the past few months globally. People are searching for new places to travel every day and they do a thorough online search to know more about the places they want to travel and other options available to make it happen such as flights, hotel booking etc. According to the survey, 66% of people have used supplier websites/mobile apps for bookings and 64% prefer to book hotels via travel websites while only 24% prefer to book through travel agents.

By owning a travel affiliate website, you can earn up to the average commission of 1.6% for flight tickets, up to 6% for hotel bookings and a 3% commission for cruise booking. All this can be done within one website by affiliating over 7,000,000 hotels, 600 airlines, over 2000 cruises, various flights, hotels, car rentals and so on! So, if this sounds a perfect start-up, contact SFM IT SOLUTION to create a travel affiliate website and to start earning without a delay!

In conclusion, selecting the proper business idea can be tricky. But with the correct knowledge and above-mentioned business ideas in Sri Lanka, it is easier for you to choose what you want to start. Make sure to check with fdinews.info which allows you to list your business and helps you to get your business started and get more sales each day! After selecting what business you are going to start, you have to know about the key fragments on getting your business started including registering, marketing, advertising and so on. Subscribe us below to receive how to start businesses in Sri Lanka to get an idea about the process and requirements you need to launch your business.

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