Do you want a business and sell product or services targeted at wealthy people? If YES, here are 50 best luxury business ideas aimed at rich people for 2020.
Even a blind man can bear witness to the fact that the rich are just getting richer in this present age. Since they have millions of dollars to spend, a lot of them use their huge riches to support philanthropic efforts while others just spend their money on whatever they fancy. This is the reason why seasoned entrepreneurs are building up new business ideas to entice the luxury-craving uber-rich.
Choosing the kind of service or product you wish to sell in this industry can be a very difficult task. You need to consider a lot of possibilities and options before you choose the one that best suits you. For instance; a lot of business plans that have been produced focus on sales, conversion and measuring success.
In some sectors that can be enough, but in luxury, you have to do more than that to achieve success. Below are 50 best Luxury Business ideas aimed at Rich people.
50 Best Luxury Business ideas Aimed at Rich People for 2020
- Specialty Rug Sales
A luxury business that is aimed at the rich is to sell Oriental, Indian and Persian rugs and carpets. You can secure a foreign supplier for the carpets and negotiate exclusive sales and distribution contracts to represent their products in the U.S.
With each passing day a lot of individuals are giving up natural sun tanning to use artificial salon tanning due to the convenience. You can start your own tanning salon and cash in on this growing trend. Have it in mind that the location of your tanning salon will be one of the most crucial issues to consider when starting.
- Tree house kits
You can indeed bring together childhood memories, business, and profits by starting a business that produces treehouse kits for the do-it-yourself homeowner to purchase, assemble, and install. These kits can be packaged and sold to retail outlets on a wholesale basis or directly to consumers via advertising on the Internet, in newspapers and publications, and by establishing a display model that can be exhibited at trade shows.
- Safe Installation
With the rate of robbery and crime growing everyday, the rich are now more proactive in terms of protecting themselves and their families from becoming victims of crime. Having this in mind, you can start and run a business that specializes in the sales and installation of safes.
- Personal Concierge
Reports have it that there are almost 16 million two-income families in this country. And when everybody’s out in the workplace, no one’s left at home to take care of all those little things that need to be done. These things may include finding a dinosaur birthday cake for a kid’s party, tracking down a service to reweave slacks, running the car to the shop, standing in line at the post office, or making hotel and dinner reservations for visiting guests etc.
Right from the inception of snowboards about a decade ago, there has been no looking back for the sport, as snowboarding now rivals skiing in terms of popularity and appeals to just about every age group, from 5 to 100. Manufacturing snowboards is not a difficult task. Note that starting a snowboard manufacturing business is best suited to individuals with a manufacturing and designing background.
- Theme Bunk Beds
These beds are very easy to construct and design, and right now children’s theme bunk beds are hot sellers. Theme bunk beds can be manufactured to resemble race cars, space ships, treehouses, or just about any other popular theme that sparks the imagination of children and gets parents to open their wallets. The theme bunk beds can be sold to furniture retailers and children’s retail stores on a wholesale basis. Or, the finished product can be sold directly to parents via traditional advertising mediums.
- Silk Scarves
We’ve been able to find out that a good genuine silk scarf can retail for as much as $100 each, yet they can be purchased in bulk and on a wholesale basis for as little as $10 each from foreign manufacturers. In this pile of dust lies a business opportunity many won’t believe can be very lucrative. You can start by simply getting an exclusive import and distribution contract with a foreign manufacturer and set about marketing the product.
- Online Factory Direct
In the United States alone, there are thousands of home based manufacturing businesses. But note that two of the largest threats facing these entrepreneurs are marketing and competing against much larger and better-financed competitors. Note that you can develop an online ‘factory direct’ Web site that features products for sale manufactured by these home based entrepreneurs.
- Red Carpet Service
Note that a red carpet service includes individual services such as valet parking, ushers, event planning, and professional emcees all wrapped up into one service. We believe that the market for a red carpet service is huge in every city across the United States, and clients can include event and wedding planners, business owners hosting special events, seminar and trade show companies, and even political and sports organizations for award ceremonies.
- Mobile Foot Massage Service
It has been proven medically that foot problems that are not corrected early can result in additional medical problems later down the road. And this creates terrific opportunity for the budding entrepreneur to capitalize on by starting a mobile foot massage service. You ideal customers will be people who spend a lot of time on their feet.
This business is a very enticing and lucrative business. Be it a romantic ride through a park or a sightseeing visit around town, tourists love to take in the sights and sounds on their vacation with a relaxing ride in a pedicab. We believe that the first thing to overcome when starting a pedicab taxi service is licensing. But if a license to run a pedicab can be gotten or purchased, you could then be well on your way to building a fun and profitable business.
The installation of garden gazebos are a wonderfully inexpensive way to start your own business enterprise. We believe that the demand for custom-built gazebos has never been higher, and the demand continues to grow, especially for gazebos used to house hot tubs. Note that this business can be started for a very modest investment, and has the potential to return big profits.
First and foremost, note that a bed and breakfast is by definition a lodging that serves breakfast as part of the room rate. There are different types of B&B properties ranging from intimate family homes with less than a handful of guest rooms to full-fledged country inns with a dozen or more rooms.
- Slate Tables
Slates and natural stone tables are becoming extremely popular, both as functional designer furnishings for residential homes and as bold furnishing statements for professional offices. This growth we believe creates a tremendous opportunity for the entrepreneur with creative design abilities to capitalize on by starting a business that designs, manufactures and markets slate and natural stone coffee tables, end tables, desks and boardroom tables.
Starting, packaging and distributing your own perfume line can make you very wealthy. Developing your own perfume or perfume line will take some careful planning and research. But have it in mind that this hard work could really pay off, especially if you can secure national accounts with well-recognized specialty retailers. In terms of the type of perfume your business develops, consider an all-natural approach to the ingredients, as all-natural products are the biggest trend right now.
In this age, starting and running an interior decorating service is the perfect business enterprise for the person that has artistic abilities and a creative flair. Generally, certification from a recognized institution in the field of interior decoration and design is needed. But the service can be launched without the certificate, but it will be much better received by potential clients as a professional service with proper accreditation.
- Luxury smartphones or tablets
Just like we noted in the introduction, some rich fellas cannot do without luxury items especially technology. This is why some versions of smartphones come in casings plated with gold, diamond, or other precious materials.
- Drapery Studio
Building and running a drapery studio is an amazing new business idea to put into action, and there are three excellent options for operating this home decoration business. We believe that the fist option is to run the business on a mobile basis wherein you travel to clients locations equipped with samples of fabric, rods, and accessories and conduct the presentation on site. Then the second option is to open a small boutique where customers come to you; or a combination of the two.
- Manners Training
We all can attest to the fact that well groomed children with excellent manners are the pride, and most times the envy of all parents. Starting a child’s manners instruction service is an unbelievable way to get into business. The market for manners training is large and easily obtained. To be able to start this business, you’ll need to learn everything about manners.
- Satellite dish sales and installation
Maybe you haven’t noticed but mini satellite dishes are in high demand now as a lot of these systems can receive a few hundred televisions and radio stations for the cost of a basic television cable service. We believe that there has never been a better time to start a business that sells and installs minisatellite dishes, as the product and service is still relatively new, yet well proven, and saturation of the market place is many years away.
- Antique Furniture Sales
A business that purchases antique furniture and resells it for a profit is a lucrative new business to start. Have it at the back of your mind that the very first option for starting an antique furniture sales business is to build and operate the business from a home based location.
- Patio Cover
Reports have shown that patio covers are a great low cost, high value home improvement project, as patio covers are an attractive add-on to any home, more importantly it can provide protection and relief from the heat of the sun. The success of this business will rest solely on your marketing plan.
- Flying School
We believe strongly that the relatively low cost of small prop and ultralight airplanes is fuelling a craze for people wanting to learn how to fly a plane. And starting a flying school is the best way to capitalize on this craze. Indeed there are a lot of hurdles, both financial and regulatory, to overcome when considering starting a flying school as a new business venture.
- Drive through Laundromat
We all know that there are drive-through banks, restaurants and photo finishing stores, so why not drive-through laundromats? A drive-through laundromat is not a new business concept; however, recently they’ve become more popular and a few companies have even begun to franchise their drive-through laundromat businesses. Building a drive-through laundromat doesn’t need a great deal of business experience or knowledge.
- Medical Equipment Sales
Reports have shown that millions of dollars worth of medical equipment is sold each year in the United States, and securing a portion of this very lucrative industry is not difficult, especially for the entrepreneur who carefully researches and plans an entry into the medical equipment sales industry. We believe that there are a few different approaches that can be taken in terms of medical equipment sales.
- Antique Sideboards Vanities
We all can agree that antique sideboard cabinets make fantastic washroom sink vanities, especially when used in heritage and Victorian homes. Converting antique sideboard cabinets into washroom vanities is an excellent and potentially very profitable new enterprise to set in motion. You need to have a well-equipped workshop, unquestionable carpentry and construction skills and experience, excellent marketing and promotion skills in order to run this business.
- Day Spa
We all can attest to the fact that our existence and survival as humans is based on how hard we strive each day. This is why starting a day spa business is an excellent choice for a new business venture. We believe that the initial investment to get a day spa up and running is substantial, but the revenue or income potential is outstanding.
- Leather Fashions
Whether you believe it or not, leather fashion is another great fashion retailing business to initiate. Globally, there are thousands of manufacturers of leather products and accessories, so securing a wholesale source for products should not prove to be difficult.
- Handbag designing and manufacturing
Designing and manufacturing designer handbags is a very huge business to start right from the comfort of the home, as not only can the business be run on a part-time basis, but there are also almost no operating overheads to bite into monthly profits. Note that unique designs and making use of uncommon materials for the making of the handbags can be your competitive advantage, and completed products can be wholesaled to fashion retailers or placed on consignment in local retail shops.
- Jewellery Boxes
From our feasibility research, we were able to ascertain that jewellery boxes can retail for as much as 10 to 20 times of what it costs to build them, making this a very profitable home based manufacturing venture. We believe that this is the type of manufacturing business that will let you be very creative in design and in the materials selected for the construction process.
- Decorative Partition Screen Manufacturing
We believe that starting a business that makes and sells decorative partition screens may be just the lucrative opportunity you’ve been looking for. First and foremost, partition screens are commonly used in homes, offices and even outdoors as an added decorative flair or to divide and partition a space. To start this business, you will need basic knowledge of carpentry, artistic talent and the desire to succeed in this business.
- Auto Painting Service
In this modern age, automotive painting is not only a proven and stable industry; it can also be a very lucrative business to start. Have it in mind that starting an automotive painting service has one main requirement to make the business successful; you or an employee must have the skills and experience needed to complete bodywork and paint cars.
- Home theatre Rooms
In this technology age, home theatres have become a very popular home renovation. Big-screen TVs, great sound, and full contact audio products are all helping to fuel the demand for the perfect family entertainment room. This is why we believe that starting a business that focuses on designing and renovating home theatre rooms is a fantastic business to set in motion for the new millennium.
- Glass tinting service
Glass tinting is a very affordable business idea to start immediately, and with a little bit of practice it can be mastered by just about anyone. From experience, we believe that the best aspect of the business is the fact that it can be operated on a year-round basis, right from a mobile installation vehicle.
- Yacht rentals
Reports and research has shown that the rich spend a lot to enjoy life and relax – creating an enormous market in the rental services industry. Though this business is capital intensive, but it will fetch you steady revenue and profit. If you have what it takes to start this business, you will make a lot of money off the rich who love to spend their free time on the water.
Indeed the time has come for you to stop making money for the boss and start putting your talents to work with your own air conditioning service and repair business. We all know that starting a business can be very tasking but you shouldn’t let it discourage you. Simply pre-market your service and build a customer base prior to leaving your job.
We suggest you start by designing a presentation package that shows your abilities and special skills along with air conditioning repair and service rates, and begin to circulate the package to potential clients, such as residential and commercial property management firms as well as directly to residential and commercial building owners.
Starting a hide-a-bed manufacturing business will enable you to capitalize on the ever-increasing consumer demand for this functional furniture product. The beds can be sold directly to consumers by placing product advertisements in local newspapers and the yellow pages, as well as constructing a hide-a-bed display.
- Collectible Clothing
We believe that the value and popularity of collectible clothing has been on a steady increase for the past decade, and the demand for collectible clothing from the 1940s to the 1970s shows no signs of diminishing. Note that starting a business that sells collectible clothing from a retail storefront location is a lucrative business to set in motion.
- Water Taxi
If your heart desire is to find a unique, fun, and interesting transportation business that will let you make use of your boating skills and certifications, then you should consider starting a water taxi business. Of course, one of the main requirements is to live by a body of water where this type of service would be in demand.
- Auto alarms sales and installation
Even though a lot of new automobiles now come outfitted with auto alarms, yet starting and managing an auto alarm installation business is still a good choice for a focused entrepreneur, especially if the objective is to build a small one-person business that can provide the owner with a comfortable annual income.
- Custom Fireplace Mantels
If you look carefully, you will sure note that the hottest home improvements right now is upgrading or installing new gas fireplaces. A lot of newly installed fireplaces have one thing in common: they need a mantel to suit the fireplace. Which is why designing and installing custom fireplace mantels is a great business to start for a person who has expertise in construction, or more specifically, cabinetmaking.
- Custom French Doors
It is very important to state that running your own business that manufactures, retails, and installs custom-made interior French doors is an excellent way to be self-employed and generate very lucrative profit returns. We’ve been able to find out that there is very little competition in this business; yet the demand for high quality and unique French doors is very good, especially in higher-end markets, such as expensive homes and professional offices.
- Art Headboards
Note that Headboards for beds featuring elaborate art or photographs are beginning to pop up in specialty retail stores across the U.S., as well as being featured increasingly in interior decorating magazines and publications. This growing need and design has created an enormous opportunity for a focused entrepreneur to capitalize on this new furniture fashion trend by starting a business that designs, manufactures and sells art headboards for beds.
- Commercial Real Estate Guide
Starting a monthly publication that features commercial real estate for sale or lease is a terrific home based desktop publishing business to put into action. Apart from commercial real estate listings, the paper can also include business and franchise opportunity advertisements.
- Luxury Wines
We all know that the rich enjoy their wine. When rich people organize weddings, birthday parties, get-togethers, meetings, and other events, you will see expensive wines all over the venue. You too can make a killing by selling those expensive wines. The basis of your success in this business will be forged in your marketing plan and how you plan to reach your target market.
- Boat Cleaning Service
Indeed competition in this business is minimal and, providing the cleaning service is located in the right area, the number of potential customers can be almost unlimited. Starting a boat cleaning service couldn’t be easier, as there are no special skills or equipment needed to run the business, and marketing the service needs no more than some printed fliers and a little bit of leg work to distribute the fliers at marinas and boating clubs.
- Antique Furniture Refinishing
We believe that the time has never been better to start an antique furniture refinishing and repair business, as consumer demand for antiques has skyrocketed. Have it in mind that the antique furniture refinishing business can easily be managed right from a home based workshop. We also believe that getting customers for the service can be as easy as attending antique auctions and sales and handing out business cards to people who have just purchased an antique piece of furniture that requires repairs or refinishing.
- Book bindings and Repairs
Note that you can work right from home, binding books in small quantities and repairing antique books. Bookbinding equipment is very inexpensive to buy and there are even construction plans available that will enable you to build your own bookbinding equipment. Also marketing the service can be as easy as forming alliances with second hand book retailers and book collector clubs.
- Auto Performance Centre
Presently there are more than 100 million cars and trucks registered in the United States, so you can’t go wrong with starting an auto performance centre that focuses in selling the latest and hottest automobile accessories. We suggest you stock and sell items such as mag rims and tires, wheel covers, engine performance parts, audio equipment and alarms, spoilers and body kits, and sport driving lamps.