What Business to Start in 2023

What business should I start in 2023 to secure a stable, long-term passive income? That is a legitimate question. In this article, I am going to share my own perspective and vision of profitable projects and trends that can give a powerful boost to a successful business.

For starters, there are many different ecoprojects that are developing rapidly. People are gradually changing the way they think about environment and are trying to take care of it as much as possible. Eco-friendly businesses are a symbiosis of solid investment and profound care for the future. This is something you should consider paying attention to in 2023.

Second of all, entrepreneurs tend to slowly switch from risky ways of making money to medium-risk and low-risk projects. This also includes businesses associated with real estate. One of the areas implies renting out residential spaces in the world’s top destination.

Third of all, these are businesses operating in the food and beverage sector. People still need to have their basic needs for food met, which is why the trend of dining out remains as relevant as ever. Another perk is the expansion of the target audience and moving beyond the familiar. What does this mean, exactly? Today’s cafes are no longer just cafes. They are becoming a space for networking and meetups which, in turn, unlocks new prospects, brings in new customers, and encourages next-level profits.

This article attempts to explore and analyze what business to start in 2023 given the existing trends. We shall examine the pros and prospects of the projects.

What business to start in 2023: Sustainable business

What can help you succeed in 2023? Businesses that meet the needs of the global community and are in line with the trends. Sustainable businesses are one of them.

The focus on the environment and a healthy lifestyle have been among the most prominent trends for several years. What’s more, it only continues gaining momentum. Being fully aware of the impact our actions have on the environment makes governments and regular people take a long hard look at their own values and principles, and eventually opt for green products and services. For instance, a lot of cities across the globe have imposed restrictions on the use of diesel or gasoline-powered vehicles. There are special areas where this type of transport can no longer enter, except for special transportation such as ambulances or vehicles designed for people with disabilities. In the not-so-distant future, the sale of internal-combustion-engine vehicles fueled by gasoline or diesel will be banned in Europe by 2035.

Here are some of the advantages this niche offers.

1. Trend. It fully meets the needs of the population in terms of environmental protection and sustainability.
2. Prospects. Against the backdrop of restrictions on vehicles in some regions, people are switching to bicycles and electric motorcycles even more. They also opt for scooters to get around the city. Today’s motorcycle and bicycle market is valued at $80 billion. The forecasts suggest that it will become almost fully green within 10 years.
3. Healthy lifestyle. Lack of physical activity associated with an office job is not good for your health. Meanwhile, cycling is! You have probably noticed how many people go for a ride on a bike over the weekends. In contrast, people who have switched to remote work have significantly reduced physical activity. A bike ride in the fresh air could easily fix that.
4. Convenience. Scooters and bicycles are a perfect solution to get around the city. They are easy to maneuver, especially in traffic jams. Currently, most countries do not require you to have any special permits to drive these. Plus neither a bicycle nor a scooter needs a parking space. After reaching the office, you can simply take it with you.
5. Benefit. Because of their maneuverability, green vehicles are often used by delivery services. What’s more, if we compare the costs of renting these vehicles and the amount needed to buy one, you do save a lot of money. самокат.
6. Competitive advantages. The sustainable transportation business is only picking up the pace. Today, some regions primarily have rental places. However, given the restrictions that are being introduced and the economic benefits, people prefer buying their own bike or scooter to renting a vehicle.

What challenges does this business involve? This may be associated with obtaining a license, low-quality goods from a shady manufacturer, issues linked to business process organization, and a lack of support.

Making money in real estate: Projects to pick

As I’ve mentioned earlier, real estate is a medium- to a low-risk asset that enables you to earn passive long-term income.

But how do you transform real estate into a business? It’s a relatively easy procedure. What you do is basically invest in a property that you then rent out, thus making money off of it.

I am currently running one real estate project – an aparthotel in the historic downtown of Prague. An investor invests in a real estate property and then can hand it over for property management and make money by renting it out.

Advantages of this niche:

• Popularity. The ever-growing demand for real estate in top tourist destinations suggests that the customer base will only continue to expand.
• Long-term and short-term profits. Renting out property to tourists or people who wish to change their place of residence temporarily can generate solid returns in the long run. In the short term, you can earn a decent income by selling a finished facility at a higher price.
• Broad target audience. It includes not only entrepreneurs from across the globe who love traveling and are ready to rent an apartment or a cottage for the long term but also tourists such as married couples, newlyweds, seniors, etc.
• Relative simplicity. The company is in charge of taking care of the property. Your involvement in this will be minimal. That is what passive income is all about.

What challenges does this business involve? If we talk about Prague, buying real estate in the very heart of the capital is practically impossible.

How to enter this market? Join one of the projects I am a co-owner of. I examined the ins and outs of the real estate market in different parts of the world. In the Czech Republic, I ran a project which involved the construction of cottages near Prague. It is safe to say that my team knows firsthand how to operate in these regions.

What is the key competitive advantage of my projects?

• Amount of funds needed. The entry threshold here is lower than the average for the region.
• My team. You will work with a professional team that is going to tackle most of the legal and organizational matters. Meanwhile, the legal team will take care of the paperwork, and the management company will handle the technicalities associated with renting real estate and making money off of it.
• Bonuses. To learn more about project in Prague, figures, advantages, and bonuses, make sure to hit the buttons below

Food and Beverage: Fancy establishments with large bills and booming popularity

Newbie entrepreneurs who contemplate opening their own place are typically afraid to step into the elite segment. It’s mainly the fear of being unable to find customers. What you have to understand, though, is that any establishment in the food and beverage sector can generate solid profits as long as you have an elaborate and well-thought-out concept and open it in the right place.

These are exactly the kind of places where you can spot cafes belonging to the Dubai-based Roasters Coffee House chain I co-own. We have already sold our first Roasters franchises and our franchisees’ cafe will be opening soon. Our chain keeps growing, so we kindly invite energetic and ambitious individuals to cooperate.

Advantages of this niche:

• Paying clients. Residents and guests of Dubai are wealthy people who prefer quality products to cheaper options. They are willing to pay good money for excellent service and exclusivity.
• Room for growth. ОOpening one cafe is just a start. Unlike other sectors, scaling up your business in the food and beverage niche is a much easier thing to do.
• Creativity and ideas. I believe this is a huge plus point. You need to always keep your finger on the pulse, come up with unique solutions and approaches to catch the eye of new customers, and make old ones come back to you again and again. This helps to keep your mind sharp.
• Benefit. This one is linked to those listed above. Paying customers will be happy to check out your establishments and come back again if you manage to grab their attention. At Roasters Coffee House, we have already achieved that, which is why we are booked for special events months in advance.

What challenges does this business involve? Getting a relevant permit and picking a location. I’m talking generally here, not specifically about the Roasters chain where we help tackle both of these matters. Our franchisees get all-around support. In contrast, it can be tricky for novice entrepreneurs who start a business like this single-handedly as there is a long waiting list when it comes to nice locations.

How to enter this business? One of the ways is to become a Roasters Coffee House franchisee. As I’ve mentioned earlier, our partners receive full support. We help train the team, launch and organize business processes. Aside from that, our franchisees also become members of the Specialty Coffee Association.

What is the key competitive advantage of Roasters Coffee House? Roasters Coffee House is obviously not the only chain of high-end coffee shops you’ll find in Dubai. That being said, we have competitive advantages that make us stand out among other places. These are:
• Unique concept. Our chain brings together the right ambiance to unwind and a perfect co-working space that keeps up with the times. Thanks to a well-arranged space, our guests can feel perfectly at ease. The chain coffee shops are not identical. Let’s take a look at the NFT gallery. This is a place where people get to enjoy both the aesthetics of various NFT artworks and delicious coffee and food.
• Exclusive coffee varieties. We offer beverages made of elite coffee varieties which you can find in our chain only.
• Stunning locations. Our coffee shops which already operate and will be opened by our franchisees soon are located in the best tourist places. That’s how we manage to maintain a high customer flow, and thus a high check.

If you wish to open a franchise coffee shop belonging to a successful brand, I’d like to invite you to join our business.

Relocating to Dubai: How to move your business and yourself here?

I would like to touch on another important topic. This is relocation to Dubai. This region is among the top destinations where entrepreneurs from all over the world move their companies to. This is explained by tax benefits, business principles, and other personal reasons.

When moving to Dubai and relocating your business here, you have to factor in local tax laws, unless you are willing to pay extra tax.

Magnify, a company that I run can assist you with moving here and arranging the entire business relocation process. The company’s legal team helped me and my fellow businessmen to tackle all the paperwork and other tax-related matters in the shortest time possible. They have extensive expertise, as I have many different Dubai-based projects and they manage them all.

If you need advice or assistance, click the link to learn more and make an inquiry. .

Do I have any other projects I will be investing in 2023?

For sure! However, I am not going to spill the beans just yet. All I can say is that I have two projects in mind at the moment.

• The first one is associated with health care and beauty. We intend it in the coming months. My blog readers and social media followers will be the first to learn about this project, its perks, and its prospects.
• The second one is about scaling up Ecoway. We have really ambitious goals that have to do with Dubai’s environmental potential. I will be sharing more information about this soon as well.

Now is the best time to start your business. Don’t let any doubts discourage you. If I had given up on my dream after the first failure when I just started my entrepreneurship journey, had I been scared of challenges and not having a start-up budget, had I idled indefinitely, I wouldn’t be a successful person with a million-dollar fortune today. Yes, I had my own share of mistakes and knocks. But all of these setbacks and failures became a crucial part of my experience and growth. It’s what helps me launch new successful projects today, and make new useful acquaintances and that’s what I share with you on my blog, social media, and in my courses.

Keep in mind that it’s only those who do nothing that makes no mistakes. Work on improving your life, and the life of your family and passing your own business on to your children.