According to reports, the state of Western Australia’s economy encountered numerous crises as the mineral boom seemed to bust. Howbeit, it started recovering in 2018, and since then there has been year-on-year growth for the first time in many years in both household consumption and domestic growth.
In addition, reports have it that business confidence attained a seven-year high in 2018, a positive sign that businesses are doing well. Perth, which is the capital city of Western Australia, continues to grow and encourages business through a range of initiatives.
The greater Perth’s economy is worth $174 billion, almost 16 percent of the state’s gross state product, and this entails that gains in the state economy are witnessed in Perth. This is also buttressed in the revitalization plans of the city, including the East End Revitalization Project and Wellington Square. Also note that the city is home to around 2 million of the state’s 2.57 million people, ensuring that it has a good clientele base for businesses.
According to experts, the state’s population is expected to reach 3.27 million by 2026, with a good percentage of the growth remaining in Perth. Also note that the City of Perth is focused on bolstering technology, entrepreneurial and innovative sectors in the city.
By bringing together innovators and encouraging collaboration, the city is fostering creative entrepreneurs and knowledge-based economies. The city also sponsors innovation-based programs including TEDx, GovHack, Startup Weekend, and the West Tech Fest, bringing Silicon Valley entrepreneurs, angel investors, and venture capitalists to the city.
Without doubts, Perth remains one of the fastest developing regions in the country and is also renowned as one of the most convenient capital cities to grow a business. If you intend to invest or start up a business in Perth, here are the 50 most profitable business opportunities to consider.
Business Opportunities in Perth
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Chemical Trading Company
Aside from the fact that the global market volume for chemicals will significantly grow in the next two decades, chemicals and minerals continue to be a large part of Western Australia’s, and Perth’s economy. All importers of relevant industrial chemical products are expected to register their business with NICNAS regardless of the number of industrial chemicals involved.
Also, remember to check whether the chemical is on the Australian Inventory of Chemical Substances (AICS). If it is on the AICS, the chemical may be imported in alignment with all necessary conditions. If the chemical is not on the AICS, the chemical may need to be notified to NICNAS before importation
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Meat Processing
Perth is known for its massive and ever-growing meat production industry. Owing to that, meat processing is a viable business idea for anyone in Perth. Beef, lamb, mutton, goat, and pork remain the leading products when it comes to demand.
Note that you can begin a meat processing unit of any one or two of these products, but also ensure you invest adequately in high-tech machinery and skilled manpower. Also, remember to seek all necessary licenses and permits. You can choose to sell the processed meat in local markets or export them.
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E-Sports Sponsorship Management Company
In recent times, the sponsorship sector of the e-sports community has been witnessing massive growth. Within the next 5 years, experts predict that the market will triple in growth from $2 million in revenue to about $6 million. While this might seem little, getting a fair share of this young market would guarantee massive returns as this market expand oversees to other locations where it can get much bigger.
In this line of business, you have to work with other companies who are eager for exposure. You would provide them logo placement, brand mentions, etc., in exchange for a fee.
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Home-based Tutoring Franchise
Truth be told, a franchise route makes starting a business quite easier in contrast to starting from scratch, and they tend to be more suitable for first-time buyers. By buying a franchise, you benefit from the training, proven business model, ongoing support, advertising, marketing programs, and standard procedures.
If you are in Perth and eager to venture into a lucrative field, consider investing in the fast-growing home-based tutoring franchise. A good number of opportunities in this field do not require any experience and the buyer only has to manage a team of tutors. With a low investment, flexible working hours, marketing material, and comprehensive training, this is a profitable endeavor to consider.
5. Wholesale Pharmacy Business
Pharmaceutical wholesalers supply hospitals and other healthcare facilities with drugs, medical and surgical equipment, plus necessary materials needed to carry out their various duties.
This is indeed one of the best businesses to consider starting in Perth, especially since there is a guarantee that your products will be purchased by retail pharmacy stores and medical clinics/hospitals in and outside Perth. In terms of starting a wholesale pharmacy business, ensure you plan your business accordingly and seek a supply chain that is reliable and viable.
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Third-Party Gaming Add-on Development Firm
According to reports, the Australian gaming industry is set for massive growth. But aside from just the games and consoles themselves, the in-game microtransaction market is experiencing exponential growth, and with that growth comes the opportunity for any willing entrepreneur eager to put in the hard work.
You will have to create in-game add-ons for certain games and also work with the developers to make sure they can be released. Note that this is a very lucrative business since people currently go to lengths to create accounts, level them up, and then sell them to others.
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Seafood Processing
A wide range of unique fresh flavors is found in Western Australia’s oceans and rivers, thanks to the incredible diversity of its marine habitats and inland waters.
Aside from its exportation value, the must-try seasonal produce for tourists includes the famous Geraldton rock lobster, South West marron, yabby and trout, North West barramundi, Exmouth prawns, Rottnest scallops, Mandurah crab, Albany oysters, and Broome pearl meat. Have it in mind that starting a seafood processing business is an endeavor you should consider exclusively in Perth.
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Babysitting Business
With parents and guardians getting busier and busier these days, starting a babysitting business is something to consider in Perth. However, note that any person who intends to work around children is expected to first have a good understanding of child protection laws and be cleared by the Government to work with minors.
The Working With Children Check (WWCC) is a requirement for people looking to work or volunteer in child-related work. It involves obtaining a national police check (criminal history record check) and a review of reportable workplace misconduct.
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Retail Pharmacy Store
This is, without doubt, another lucrative and interesting idea to consider in Perth. These businesses are known to carry out the sale (retailing) of generic or brand medications. A good number of well-established pharmaceutical stores also engage in the sale of medical devices.
However, it is imperative to note that the pharmaceutical industry in Perth is highly regulated. You will be expected to be quite conversant with several universal laws and regulations that govern the patenting, testing, safety, efficacy, and marketing of drugs.
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Security Camera Installation Business
Truth be told, there is currently a massive market for security camera installation business in Perth and the low barrier to entry makes it one to consider. Although this is a technical business, an entrepreneur with zero technical skills can genuinely start and run the business, and also catch up within a few months if they are smart.
Businesses in this field are engaged in security camera system installation, security system monitoring and surveillance, security camera system repairs and maintenance, and other related surveillance and security system services.
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Dance Studio
Just like with most urban cities, there are so many people in Perth who are willing to pay money to learn various dance steps. Note that dance steps like Salsa, Ballet, Hip Hop Dance, Tap Dance, etc. are all gaining popularity among the world’s urban population. Owing to that, establishing your dance studio might just be the right business decision to consider if you are still considering starting a profitable business in Perth.
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International Distribution Supply Consultant
With the world-changing political market, businesses will always need help and guidance navigating the international landscape; especially with how the US and China markets are reacting. Since this is a service-based business idea, your startup cost will be minimal, but you would just need to be conversant and current with international trade and distribution.
You could also offer your services and help to businesses looking to go international, but don’t know where to start. You will be tasked with helping them navigate the international landscape for a fee or percentage of new revenue from that market.
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Salon
Starting a nail salon or beauty business can be quite profitable in many ways. Aside from helping customers look and feel their best, you can also be creative and enjoy a social work environment. Starting this sort of business can be exciting, however, to make the most of it, make sure you have your legal requirements set up, as well as insurance and all necessary permits and standards.
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Laundry
A laundry business may be very profitable when started and managed right. The laundry and dry-cleaning industry in Australia is worth over $3 billion a year, and according to experts, more than 4,600 laundry companies are needed to meet this demand.
The capital needed to start a self-service laundry business depends on numerous factors, including size, equipment required, and complexity of the fit-out. To buttress this, note that a small shop may cost upwards of $180K + GST whereas a larger shop with more equipment in an apartment building may cost up to $350K + GST.
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Home Solar Power Installment and Maintenance Business
Solar power at residential homes in Perth has become a growing trend, especially since it helps to reduce power consumption. In Perth, it works for a large amount of the population, and although you would be facing some competition, the market is open for growth and there is enough space for more competitors.
Aside from just installation, also consider offering maintenance and cleaning services. If you like the outdoors and have a passion for renewable energy, this could be a great business to start.
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Electronics Appliance Retail Store
This generation and coming ones are very eager to invest in electronics and appliances more than their older generation. This growing demand leaves room for any willing entrepreneur who wouldn’t mind starting and managing an electronics appliance retail store.
Your retail store will carry a range of new appliances, electrical goods and home entertainment products, such as dishwashers, TVs and computers. Some stores also offer repair services or even sell used goods.
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Solar Power Development Company
Solar power is an industry that is experiencing massive growth, and with the amount of sun Australia gets, this is a business idea to consider if you have the necessary capital. You will need to acquire large plots of land and then set up solar panels. You will also need to route this power to nearby city areas where you will make the money. Have it in mind that this is a large-scale business idea but genuinely has the potential to be a very sustainable business.
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Boutique
A boutique is a small shopping venue, most often specializing in fashionable items such as clothing and jewelry, which are often handmade or hard to find elsewhere. You wouldn’t need any formal qualifications to start a clothing boutique, but you will need some business expertise.
Coupled with serving customers and keeping the store tidy, you will also have to control your stock and keep the books up-to-date. Also be ready to work six or seven days a week, particularly during the holidays.
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Cleaning Service
Starting a cleaning service business has become a popular choice among Perth residents and rightfully so – it is quite lucrative. There are numerous six and seven-figure cleaning businesses operating in Australia today, and most of these businesses were started from scratch. While it’s easy to underestimate the potential of a cleaning business, this industry brings four billion dollars to the general Australian economy.
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Internet and Smart Device Network Security Business
Generally, Australians are demanding faster internet, and with the progress in smart devices, there is always the ongoing question about security.
By starting this business, you would consult with governments, cities, and private businesses on setting up smart device networks and also see to the maintenance of the security systems behind it. For instance, the city may want to install a smart grid that monitors all the roadways for repairs. You will be tasked with helping them manage the security behind it all.
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Fiber-Optic Installation Company
According to reports, there is a massive demand in Western Australia for fiber-optic networks to get installed, either directly in people’s houses or to central stations where faster internet can be equally distributed. In this line of business, you will have to align with governments to get these cables installed in the ground.
This sort of business could be started for a low investment if you worked with the cities to obtain grants before starting the job. However, as the business grows, international expansion would be necessary for growth.
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Coffee Café
Cafes and espresso bars are the lifelines of the metropolis, which are present in scores across Fremantle, Swan Valley, Northbridge, and the Perth Hills. Have it in mind that this successful industry remains one of the best platforms to start your entrepreneurial journey. If you choose to start a coffee café in Perth, ensure you sell cappuccino, espresso, iced coffee, decaffeinated coffee, alcoholic coffee, et al.
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Augmented Reality Safari Guides
Like many cities in Australia, Perth has a strong tourism industry and is taking active steps to grow the sector. Almost 2.5 million people from interstate and overseas visited WA last year, and there was a total of $9.9 billion spent by visitors. However, to take it to another level, you could start a business that creates an augmented reality safari guide.
Note that your customer would wear a headset or something similar to Google Glass, and be able to see certain statistics, read important and interesting information, and have a more immersed experience. You can also choose to create an app that people can install before the tour to get cool insights or AR viewing of what the area used to look like on the safari.
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Corporate Image Consulting Firm
While the cost of starting this business might not be that exorbitant, you will need to be well trained as a brand specialist and a public relations specialist to succeed in this endeavor. Being a corporate image consultant entails that you help your clients take care of everything that has to do with the corporate image they want to public to see in them.
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E-Book Publishing Company
According to reports, e-books continue to grow in the Australian market, and they are expected to witness more growth in the future. Therefore, if you have a passion for books, then this is a business idea to consider. This business would involve helping others publish their e-books and also make available the platform to market the e-book to the potential market for sales.
To generate revenue, you could negotiate a profit-share plan where you get a percentage of the revenue of the book, especially since you are also putting some risk on the line with marketing the e-book. Agreeably, the profit potential for e-books is known to be quite higher than a traditional book.
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Driving School
Almost everybody will need to learn how to safely handle an automobile at some point in their life. Although you can acquire a license to drive in Perth without driver’s education training, driving schools are still in high demand. The Motor Vehicle Drivers Instructors Act 1963 (WA) sets out the requirements for a driving instructor’s license, including:
- A current Western Australian driver’s license.
- Minimum of 3 continuous years experiences driving the vehicle class you wish to teach.
- Medical fitness standards
- Police character checks.
- Minimum age of 21 years old.
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IT Services
Generally, the tech sector in Australia is growing at an interesting rate. Have it in mind that the advent of newer technology also brings about the need for maintenance, security, and database management. All three vital roles encompass very specialized roles that are extremely crucial for any software or application success.
Owing to that, you can provide services to big enterprises as well as medium and small businesses in important areas like software development, system up-gradation, data management, virus protection, cloud computation, cyber security, etc.
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E-Commerce
Without doubts, e-commerce is a promising business idea not only in Perth but globally. If you are looking to start a good business in Perth, note that you can start an e-commerce business and sell a wide array of goods ranging from grocery to electronic gadgets, apparel to childcare products, and toys through your portal.
You should consider developing a good app for your e-commerce business. Also, note that timely delivery and prompt returns and replacements are imperative to the success of your e-commerce business. Online and offline marketing with a special emphasis on social media marketing is also necessary.
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Grocery Store
Grocery stores have a universal demand everywhere. Launching a small grocery shop can be a fulfilling and rewarding endeavor, however, note there is a range of factors to consider before you begin. From the skills and the equipment to the mandatory licenses, also ensure you consider the size and location of where your store will be run.
You should consider if you will buy or rent and how this will influence your expenses in the short and long run. You can also choose to start a mobile location to create a larger customer base and stand out against the other grocery stores.
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Gig-Economy Online Platform
Have it in mind that with the growth in the gig economy come the opportunity to help people find those gig jobs. Starting this business in Perth also entails that you will cater to the tourism industry, as a good number of people who visit Western Australia are quite eager to find some sort of work to stay afloat.
While this might seem straightforward, it is daunting work but could be successfully started with little investment as websites are low-cost to create.
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Fencing Contractor Company
Fencing contractors tend to install permanent and temporary fences, gates, screens, and other barriers on domestic, commercial, and agricultural property. To start and run this business successfully in Perth, consider approaching businesses that may need fencing services regularly.
You could, for instance, reach out to building contractors, architects, and property developers. Civil engineers who construct and maintain roads and railways will also need fencing services. A good number of businesses, such as builders and event organizers, may need temporary security fencing services at different sites regularly.
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Smart Office Consultant
Individuals in this business take a more business-to-business approach with the use of smart technologies. They most often work with companies to help them set up smart offices that make their work and office life more efficient. Have it in mind that this could include setting up sensors for the lights so no one needs to turn them off or on, and also alerts maintenance staff when a light burns out.
In addition, it could also start coffee pots, turn on computers, and suggest different seating arrangements based on people’s pathways. Truth be told, there are many applications for this idea, and it will only increase in demand for Western Australian companies as they grow.
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Fruit and Vegetable Mart
This is a very viable business to consider starting since a wide range of vegetables are grown commercially in Western Australia. Major crops include carrots, potatoes, tomatoes, capsicums, onions, broccoli, cauliflower, and lettuce.
However, it is imperative to note that starting a vegetable and fruit retail business comes with its own fair share of challenges. But with a good location and extensive knowledge of how to source fresh fruits and vegetables, you can start and run a successful fruit and vegetable mart in Perth.
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Smart Home Developer
According to experts, smart homes are going to become something we see very soon. With the exciting demand for construction in Western Australia, if you have experience or a passion for construction, this would be a great business idea to consider.
Your work will include building houses that feature all the newest and necessary sensors, so people have smart homes that interact with them. There is a growing demand for this sort of home, especially since it can help to save 30% on energy bills by heating and cooling the house more efficiently. It can also alert owners when there is a flood while they are away, so they can send someone to curtail any future damage to this house.
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Home and Offices Food Delivery Business
Home and office food delivery services are couriers who deliver foods to any destination within their coverage area as ordered by their clients. Setting up a successful food delivery business requires investing in proper marketing and legal work, as well as good business ethics.
A good number of full-time couriers use a cargo van, but depending on your capital and the concept, the right vehicle might be a bike, motorbike, Ute, or other types of vehicle. If you intend to use a heavy vehicle, then you need to get a special license.
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Digital Music Distribution Company
Experts note that the growth in digital music is dwarfing and restraining physical music distribution businesses, and they are expected to almost completely disappear in the next 5-6 years. Owing to that, websites and apps are coming into play and making billions of dollars supporting the digital distribution of music.
However, to establish this sort of company, you would need to start a niche website, and license music from that niche to play for users. Note that your customers could get 50 songs for free along with playing ads, and then subscribe as a monthly member for a few dollars to receive unlimited streaming of the niche music genre without ads.
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Pet Store
This is another exciting and profitable business to consider starting in Perth. In Perth, note that microchips are used as a form of electronic identification for pets, usually limited to domestic cats and dogs.
Therefore, if you are selling dogs, cats, or other domestic animals, ensure that you are current and also complying with micro-chipping requirements. Get in touch with your Local Council to find out what specific requirements they have for pets and pet stores.
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Research and Development Consultant
Agreeably, R&D has become mandatory for companies in Australia. Have it in mind that the Western Australian government supports more research and development with tax breaks and grants for companies who intend on carrying out more research.
While this business would not receive grants and tax breaks, these incentives free up money for these businesses to hire external support to help them manage their R&D process. So if you have the necessary experience to venture into this business, then consider this a perfect opportunity as the government is supporting you with policy change.
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Dog Training & Walking
According to industry reports, the average dog trainer/pet walker earns AU$22.70/hour. However, many dog walkers/sitters set their own rates. Dog training is a good job or business for anyone who enjoys spending time with dogs.
If you provide services personally you will get a good income. Howbeit, starting up service with more trainers will ensure your business achieves success quicker and also make bigger profits. Personal networks and marketing are vital for the business.
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Financial Consultancy
As a financial consultant, your job is to provide numerous kinds of services like financial and tax planning, profit and loss analysis, fund management, investment planning, bookkeeping, banking, accounting, etc. Consulting fees should be based on the value of your work and there are different consulting fee models.
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Event Planning Service Business
To successfully start and manage this business, you will need a good management capacity, aesthetic sense, and an eye for detail. As an event planner, you can plan and organize various kinds of events like corporate, social, or media events.
However, note that there are many things you need to consider, from whether or not you want to lease an office or work from home, to the name of your business, how you’re going to finance it, and even the payment methods you’ll accept along the way.
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Mining Automation Dealer
Minerals have remained a massive part of Western Australia’s, and Perth’s, economy. Although it may be unrealistic to buy a mine, you can start a business that supplies local mining companies with the latest and greatest machines for mining automation.
According to reports, the industry is headed into a wave of technological advancements, and as a middleman, there is a massive opportunity to help people and make some money too. By working with local mining companies, you could find out their needs for mining automation equipment, and work with other companies that produce it to supply it in Perth.
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Corporate Education and Leadership Development Company
Truth be told, corporate leadership and job training are greatly underserved areas, and thus genuinely presents an opportunity to start a business that strives to fill that need.
Note that by putting together customized training and development programs for companies, you can help their employees and talent progress within the organization. This is another business idea that could be started with low investment as you could pre-sell the packages to companies, and then link up with them to ensure the training is custom.
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Personal Privacy App
People constantly worry about their privacy and how much of their private information is out there. They most often don’t remember who they shared their email with, or how much information Facebook is taking from their profile.
To help solve this problem, you could create an app that monitors all that activity for someone, so they can see and analyze who has access to what type of information. You can choose to charge a one-time fee or monthly subscription to give people peace of mind about what is happening with their data. Australia has quite different privacy laws than other countries therefore it is the ideal market to test this idea out.
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Trades Education Institution
With the demand for construction growing massively in Perth, reports have it that the support for training future workers is also reducing, and this creates an opportunity for a willing entrepreneur to start a business in the trades education area.
Note that this could either be a private or public institution that teaches people electric, plumbing, carpentry, and other trades. If you don’t have the resources or incentives to start big, consider offering a single trade course to get started and inculcate more as your business develops.
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On-Demand Contraception
According to reports, this idea was first conceived in the USA and has become popular, with some investors in Western Australia looking to start the same thing. Note that this involves same-day or 24-hour delivery of the contraception prescription the women were provided. Notably, this will help them avoid visiting the pharmacy or doctor to get it.
Also note that women tend to be busier these days as they take a lead in the business world, therefore they barely have the time to wait around at pharmacies for their contraception. If you have ever wanted to start a unique delivery service, this is one to consider.
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Environmental Consulting Company
Australians and business owners are beginning to understand that climate change can have a massive impact on their business results. Your work will include working with existing companies to help them establish an environmentally sustainable plan.
Note that by working with their suppliers, employees, and current operations teams, you can more or less note areas where they need to work on and make recommendations on how they can recycle more, or change to a sustainable supplier.
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Elderly Care Home Complex
With a growing elderly population also comes a vital need for proper facilities to ensure they enjoy the last few years of their lives. Truth be told, you will need substantial capital to start this business. You would need land, building, nursing, and doctor staffing, as well as food and medical supplies.
Howbeit, this would be a very sustainable business that could make a lot of profit. Have it in mind that people charge around $10,000 to $20,000 per month for care like this, and if you house over 50 people, that could be a massive revenue stream.
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Elderly Personal Service and Care Company
This is another lucrative business idea targeting the growing elderly population and you can do it without investing so much money on start-up costs. Note that by doing it yourself, you could advertise to local areas where seniors live.
Have it in mind that the services you offer will be delivery, companionship, transportation, etc. Consider a subscription model when setting up this business because it would make it easier and more efficient for families with elderly parents.
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Massage Parlor
There are numerous reasons why people want to become massage therapists. Through relaxing music, an atmosphere to match, and therapeutic touch, massage therapists have the opportunity to have an exciting career. There are many things to consider before opening your clinic.
Your brand, the therapy room, clinic’s design, the employees you’ll hire, materials and equipment, OHS guidelines, marketing, and customer satisfaction, amongst others. If you want to gain some extra credibility, consider joining industry associations like the Massage Association of Australia and the International Institute for Complementary Therapists.