7 Most Profitable Malaysian Small Business Ideas for 2020
Many Malaysians dream of running away from boring office work and starting their home business. However, due to certain issues such as lack of knowledge, and financial resources, this can prevent people from getting started. If you’re having trouble deciding which startup to look for, we’ve listed 10 lucrative small business ideas that require less capital and professional skills.
1. F&B Business
F&B always as stable market demand and you cannot go wrong with this idea. Eating is one of Malays’ favorite times, and if you can create foods that Malays can’t resist, you can generate a sustainable income.
The best thing about this idea is to create affordable food so you don’t have to start with a lot of capital. Once you have a loyal customer base, it is easy to grow your business. The downfall of F&B is that the industry is highly competitive. To win, you must create a unique selling proposition (USP) that sets you apart from your competitors.
Even if you can’t afford to open a restaurant, you can always start small by taking orders from Facebook and delivering them to your home.
2. Social Media Consultant
Today, social media is the most popular and influential advertising channel to gain awareness. Many companies are looking for well-versed people on social media to help them manage their social media presence.
In fact, the social media consultant is a legitimate profession and you get paid for it. Many companies hire social media consultants to manage their social media, but it’s more than just casual use of Facebook, Twitter, or Instagram. You need to have more knowledge and skills to become an expert.
3. eCommerce store
The eCommerce store remains one of the best options so far. You can get the services to sell the products on a reputable website for online shopping. Lazada and Carousel are popular trusted online platforms in Malaysia, for example.
Read more: 7 Business Opportunities in Malaysia and How Much it Costs to Get Started
The only thing you need to do very well is purchased the right products and market them to your audience. With the right products and marketing, you can make a lot of money. There is also a lot of flexibility in your own eCommerce site.
4. Business on Airbnb
In addition to staying in a hotel, Airbnb has become the second popular choice for travelers, whether local or international. If you already own a property, you can easily use it on Airbnb for people and the extra money will be yours. But even so, you will need to invest in some renovations and furniture to make your property attractive.
Plus, if you’ve already invested in a property, you can do it a lot more on Airbnb compared to renting it to people on a monthly or yearly basis. It can be a great business opportunity in Malaysia for 2019.
There are several editorial services that you can provide without any upfront monetary investment such as text editing, proofreading, writing, writing, web page content provider and more.
Use your writing skills to be as complete as possible and make money from it. If you are a professional writer, writing books is a great idea to get you started. Start writing a book and get a publication that wants to market your book.
6. Real Estate Business
Malaysia’s real estate market is continually growing from time to time. The government is also taking numerous initiatives, such as the PR1MA project; The goal was to make it easier for low- or middle-income people to buy houses.
Real estate demand is being contracted, especially in high demand locations such as Kuala Lumpur, Penang, and Johor. Take the opportunity now and there are many different options to launch it.
7. Food Truck Business
If having a restaurant or physical store requires more capital, the food truck business is the answer. In fact, the F&B business is huge and you can exploit it. The food truck business requires little capital and you only need a small team to run the business.
The benefit of having a food truck business is that you can move from one location to another to test market demand and build your loyal customer base. Create a simple meal that is easy to serve and sell at a reasonable price.