Modern Australian Magazine

5 Lucrative Ideas for an Australian Startup in 2018

  • Written by Diana Smith


Coming up with a plan for a startup is not nearly as simple as it may seem at first. It requires that you conceive an original idea, have the necessary skillset to see it through, as well as have the knowledge to make a proper business plan. However, before you get started, you need to make sure that the market is lucrative enough for your business to thrive in it. This doesn’t only depend on the nature of the industry and the timing but the business hub that your startup aims at becoming a part of. With this in mind and without further ado, here are five lucrative ideas for an Australian startup in 2018.

Food industry

The first niche that’s always relevant is the food industry. Nevertheless, you first need to find the sub-category for which you have the skills, resources and interest in. For instance, being an athlete chef is vastly different from starting your own catering business. It requires a specific set of skills, you will need to acquire different certificates and the registration process will differ. Moreover, the first business type can be achieved through a one-person startup model, while the second one will probably require that you to hire more people and, in this way, commit to a more complex business structure, to begin with.

Online retail

Another trend that’s currently popular in Australia is the business of online retail. For this, you need to possess some basic IT skills, find a reliable payment gateway and create a logistical background capable of providing you with a competitive edge. The e-commerce is not for everyone and in order to thrive in it, you need to understand the needs of your buyers. Keeping your prices competitive is always paramount, yet, it is not so easy to accomplish when working with an unfavorable overhead. For instance, having a charge-free same- or next-day delivery can be a determining factor when it comes to closing a sale, yet, it might be a feature that your online retail startup simply can’t afford.

Construction business

Like with the above-discussed food industry, construction business is simply not going anywhere. The greatest problem that this line of work is currently facing, however, is the lack of skilled and interested workforce amongst the millennial population. On the other hand, the increased interest in this industry by various entrepreneurs has created a network of co-dependent services all across Australia. This means that you can specialize in a certain area of the construction industry and outsource certain tasks to others.

The next massive benefit that makes construction business worth considering is the versatility of equipment for hire. Nowadays, you can find a reliable crane hire in Brisbane and, therefore, accept contracts that you would otherwise have to pass on.

Interior design

More and more people recognize the importance of a quality interior design, which makes it a very lucrative market for contemporary Australian entrepreneurs. For instance, homeowners who are willing to make their home greener often assume that pursuing this trend comes at a steep price. An eco-friendly interior designer can make your dreams come true without breaking the bank and achieve this much-desired effect quicker and at a lower cost. Nonetheless, an interior design industry requires a wide array of skills that aren’t that easy to acquire. Unlike with some professions, formal education can only get you so far, which is why work experience comes as paramount.

Shared office space renting

At the end of the day, more and more Australians are telecommuting, and the rising number of companies exist only in digital space. Still, a traditional office does have some advantages that can’t be overlooked. Working from home is a trend, but it is well-known that it comes with so many distractions and obstacles, which can make it impossible for most people to focus and most startups to cooperate efficiently. By purchasing, constructing or leasing an office space, rearranging it and then renting it out as a shared office space, you can create a steady and reliable source of income for a relatively low investment.

These five ideas alone offer you a broad spectrum of options to consider. Sure, offering your IT services, babysitting, developing an app or pet sitting are also valid startup plans, yet, they are much smaller in scale when compared to the five ideas listed above. In other words, which of these suggestions suit you the most doesn’t only depend on your skills and interests but on your ambition, as well. So make sure you choose wisely!



 

Australia Today

7 Tips for Preparing To Drive Across The Nullarbor

News Company

With its wide, treeless horizons, tranquil scenery and quiet, open roads, the Nullarbor Plain offers an incredible experience and true escape from the hustle and bustle of the city. The Nullarbor drive is a 2000 km journey over an arid limestone landscape between Norseman, Western Australia and Ce...

who the suspects are, what they're charged with, and what happens next

Amy Maguire, Associate Professor, University of Newcastle

Four men – three Russians and one Ukrainian – will be charged in relation to the shooting down of the Malaysia Airlines flight MH17, which killed all 298 passengers and crew on board. Dutch prosecutors will launch a criminal trial in The Hague on March 9, 2020. But the accused are beyond...

a river does need all its water

Paul Humphries, Senior lecturer in Ecology, Charles Sturt University

Given her new role as federal environment minister, one of Sussan Ley’s comments in an interview with Nine Newspapers was eyebrow-raising, to put it mildly. She said:Sometimes the environment doesn’t need all its water but farmers desperately do need water.This is inaccurate and concerni...

There are 70 million refugees in the world. Here are 5 solutions to the problem

Gerhard Hoffstaedter, Senior lecturer in Anthropology, The University of Queensland

Little has been done to help the millions of refugees from Myanmar, Venezuela, Syria and other troubled countries find permanent resettlement options.Nyein Chan Naing/EPAThis week, the UN High Commissioner for Refugees, Filippo Grandi, labelled the world’s refugee problem a crisis that is prim...

Australians' trust in news media is falling as concern over 'fake news' grows

Andrea Carson, Associate Professor at La Trobe University. Department of Politics, Media and Philosophy, La Trobe University

The report found that Australian news consumers access news less often and have lower interest in it compared to citizens in many other countries.ShutterstockOn today’s episode, we hear from Caroline Fisher, an assistant professor of journalism at the University of Canberra and lead author of ...

Holidays & Travel

What to Do When Traveling From Australia to USA

Planning a trip to USA with your friends for the first time? Well, then you have miraculously landed at the right page. We have done all the homework to prepare...

5 Top Offbeat Things to do in Hong Kong

Hong Kong sure has some quirky attractions hidden up its sleeve. And if you are looking for some unusual sights and unique fun activities to experience, you won’t be disappointed...

Exploring Whakatane NZ

One of the most exciting road trips travelers can embark on is a motorhome hire new zealand journey. This unique and exciting country has it all when it comes to...

Important Considerations When Choosing Broome Accommodation

Broome is a fantastic place for visitors of all ages. Whether you want to lounge on the golden sands of Cable beach or take the kids to learn something new...

A tour guide to Melbourne

Welcome to the second most populous city in Australia with its beautiful sites and amazing scenery. Melbourne has been identified in so many spheres as one of the most livable...

Top 5 Places to Visit in Australia

The sheer, breathtaking expanse of the Australian continent is a thing of beauty. The vast landmass is actually packed with awe-inspiring landmarks to see and countless blood-pumping activities to partake...

Adhari Park: Why is it one of the must-visit sites in Bahrain?

Despite its small area that does not exceed the 1,000 square kilometers mark, the Kingdom of Bahrain is known for being rich of touristic sites and attractions. Bahrain comprises destinations...

Exciting Off Road Adventures In Western Australia

Western Australia has long been a top destination for off roading enthusiasts from all across the world. One look at some of the top off road destinations on offer in...

Things to Do and See in Ballina, Australia

The intricate coastline of New South Wales is renowned for its sumptuous, decadent beaches, hidden resorts and secret camping spots. A long and slow ride down the winding highway that...

Fashion & Beauty

Should you get a hair transplant in Turkey if your hair is grey?

The color of hair is a result of the pigment melanin which is made by special cells called melanocytes. The production of the pigment is largely genetically determined so you...

Marvelous Makeover - 5 Tips to Revitalize Your Look This Summer

The winter months can wreak havoc on your health and wellbeing. Your skin can dry out, your hair darkens and can go oily, and even your body changes as you...

The Gentleman’s Guide to Wearing Custom Ties

Ties are the finishing touch to your outfit and set you apart from the cloud. But with so many designs, patterns, and options to choose from, getting one that matches the...

5 unique ways to extract toxins from your body

City living can be great apart from all the environmental stresses that your skin is exposed to. Pollution, dirt’s and oils are constantly present no matter where we go so...

Modern Snapback Hats trending in Australia

Modern snapback hats are already the latest craze in the world of fashion, once again. They had ruled the roost way back in the 90s by becoming an indispensable part...

5 Tips Designed to Help Accentuate Your Hourglass Figure

Loving your body can be a difficult task at the age of social media. From the moment we wake up till we go to sleep, we’re constantly bombarded with photos...

Popular articles from Modern Australian

How Weight Loss Could Affect the Results of Your Breast Enhancement Procedure5 Outdoor Design Ideas that Marry Form and FunctionFinal Frontier - 5 Ways the Digital Landscape Has Changed Business for GoodCosmetic Physician, Dr. Phoebe Jones shares her expert tips on how to treat the most asked about skincare problemsYvonne Allen: How to improve your sex life in your relationshipThe Rug Lady Announces The Launch Of The Latest Saffia Rug Range7 Tips To Get Your Home Ready For WinterFuture-proofing your career prospectsYour Winter Hot Water System Guide for 2019Circulatory System Diseases and Risk FactorsEXYRA eyewearShould you get a hair transplant in Turkey if your hair is grey?Do You Need a Tummy Tuck or Just Liposuction?Best 4 Sassicaia Wine with Soothing Taste and AromaMarvelous Makeover - 5 Tips to Revitalize Your Look This Summer