Australia offers a plethora of opportunities for new businesses to thrive. Due to the new technologies, scientific breakthroughs, and changes in international policies, Australia is becoming a hub of new business opportunities.
With the new opportunities come new startup business ideas for aspiring entrepreneurs. In this post, we rounded up ten money-making startup business ideas that are well-suited to the Australian economy.
Top 10 Startup Business Ideas in Australia
Australia is one of the most suitable countries to start businesses and test out new ideas. That is because the country has a low population density which means there are many untapped business opportunities for entrepreneurs.
However, you need to think differently from others to stand apart and generate high profits in a short time.
Here are some money-making business ideas with low investment to draw inspiration from.
1. Third-Party Gaming Add-on Development Firm
The gaming industry in Australia has thrived over the course of 2020. The sector has benefited during the lockdown and offers enormous potential for profit. So if you have any interest in gaming, you can dig into this area and find new opportunities.
It’s not just the games and consoles that promise profit but also the in-game microtransaction market based on sales of in-game virtual goods for a small amount of money.
This business involves working with developers to create in-game addons for hames. This could result in good profit because gamers make use of this feature to level up and sell their gaming accounts for profit.
2. Retail Trade
Retail trade is one of the best startup business ideas in Australia and the most popular too. This category includes convenience stores, bakeries, grocery stores, baby products, fuel retailing, and motor vehicle dealing.
Some other options to consider include book shops, furniture retailers, and pharmacies. Since online retailing has bloomed significantly in Australia and the whole world, it’s important to know your business strategies and be aware of the trends.
3. Solar Power Installation and Repair Business
Due to the growing trend of solar power, solar power installation and repair is one of the startup business ideas for entrepreneurs. Solar power is a popular choice among the Australian population, and the market is well on the way to grow.
The solar power business would involve installing and maintaining solar power systems in houses and other settings. This startup is ideal for anyone passionate about renewable resources and who wants to make quick money.
4. E-Book Publishing Company
E-book publishing has a growing market in Australia, and it offers more potential profit than traditional books. You can start a platform that would help writers publish their e-books and market them to the potential market for selling.
You can decide on a profit share plan with your client and get a percentage of the profit made of the book. If you are into new technology or books, creating a platform for e-books is a good business idea.
5. Augmented Reality Safari Guides
Australia’s tourism industry has been a large part of its economy. Once the borders open, tourists are expected to flood in, and that’s your chance to start a business of augmented reality safari guides.
The tourists will wear a headset that would guide them along their journey and help them read important information to enhance their experience. Even though this venture would require significant investment, it is one of the quickest money-making startup business ideas.
6. Art, Entertainment, and Recreation
If you are passionate about art or other recreational activities, you can start a small business, such as an art gallery, fitness center, or music company.
You can also create a website or app to attract consumers and manage subscriptions online. If you have a connection with art, entertainment, or recreational activities, this might be the best option for you.
7. Gig-Economy Online Platform
Australia has an ever-growing gig economy and offers plenty of opportunities for freelancers and part-time workers. This business would also help tourists find gigs to support their visit.
You can start by creating a website that would accommodate both workers and employers and create opportunities for them to work together. The startup requires minimum investment and high potential profit.
You can also consider starting a content writing business and attract clients who need help creating product pages, blogs, etc. Almost every new company needs an internet presence today, and you can profit from it.
This startup requires minimum investment and includes
businesses like painting, landscaping, air conditioning services, tiling, and house repairs.
As your startup expands, you can hire workers and take your business to the next level. If you have a background in construction, you can also offer building construction services.
9. Food Services
If you put in effort and strategy, a food startup is bound to be successful in Australia (and any part of the world) and run low risks of going wrong. This business category includes restaurants, bars, fast food, catering, and delivery services.
Once you have profit, you can expand the business to grocery services that deliver grocery and food items at the customer’s doorstep.
10. Personal Privacy App
With the growing use of smartphones, Australians are more concerned about security and privacy. Hence, there is a need for privacy applications that can protect data and personal information.
You can start a business by developing an app that protects personal data such as photos, videos, and files. The app may also monitor all activity on personal devices, so people can control who has access to their data. You could charge monthly subscription charges and get more prominent as the need for privacy increases.
There are many businesses still left untapped in Australia that can serve as an opportunity for you to grow your own startup. Plus, you can get that feeling of pride that comes with starting your own company and watching it expand.
Remember that even the most successful companies in the world started from small businesses. So, your startup can be the next big thing in Australia if you get through the initial struggles.