Are you interested in starting an entertainment business? Are you interested in playing in the entertainment sector? Then read on as I share with you ten entertainment business ideas and opportunities with big chances of success.
Thinking of the top 10 entertainment business ideas to start has never been easy as the entertainment business is booming with no doubt. It perfectly coincided with the advent of social media and video sharing sites which comprise the most crucial part of succeeding in this industry – reaching the audience. Whether you are targeting show business, backstage services or technical services, you will not run out of choices.
However, not all choices can be considered the best ones. So here are the top 10 entertainment business ideas and opportunities, also accepted as the most lucrative, that you may want to prioritize above everything else. As a side note, it is advisable that regardless of the idea you choose; you must have a business plan handy for your venture.
Top 10 Best Entertainment Business ideas and Opportunities for 2020
This goes straight to the upper tier of the top 10 entertainment business ideas because of its demand and wide market. Undoubtedly a niche business, recording studios saw the demands go up three-fold in the last three five years alone more than the last couple of decades. Social media and video sharing sites have certainly stirred the inner performers in millions of people around the globe, and you can have a share of it.
Although a bit expensive with all the equipment and the construction of the studio itself, the Return-of-Income (ROI) is also high due to the naturally expensive service you can offer. For $10,000-50,000, you can have all the equipment you need, down to the high-tech-mixers for additional services.
2. Sound Engineering Services
Sound engineers landed on the second place in the top 10 entertainment business ideas not only because of the demand but because of the convenience of the service, both in the part of customers and businessmen. This is a knowledge-based business and it should not be hard to start up for the adept ones. With just a couple of software, you are good to open for business.
3. Events and Social Media Management
Think of it as the modern PR management. Almost everyone – from politicians to community leaders – needs a good social media reputation, and since this surprisingly is not easy for lots of people, you will surely have clients lined in front of you in no time.
4. Video Editing Services
Also mainly attributed to the social media craze, video editing transitioned its market from professional clients to amateur ones. Just look at YouTube and see how many people are willing to pay for smooth video editing that only professionals can offer. It is a worthy slot in the top 10 entertainment business ideas because of its timely demand.
5. Online Entertainment Portals
Think of it as the front-end of website management – of websites dedicated to entertainment purposes such as blogs and video-audio sharing sites. Web administrators and back-end specialists (who are in-charge of the technical works) often take care of this part as well. Unfortunately, the creative side is often left out. Specializing in creative services and web administration will give you the edge in conquering this business.
6. Music and Dining Clubs
Food as usual is a good business. With a touch of music and club theme, it won’t be long before you gain patrons and start raking in bucks after bucks. The attraction makes a good business opportunity and not just the food alone.
Many dance studios earn just enough to keep them alive in the entertainment industry. However, adding some flair of showmanship will make the difference and spell your success. Hire good choreographers who are knowledgeable on the new dance styles and are innovative enough for your studio to produce professional dancers. Dancers nowadays are also using effects like lights and chroma presentations so you may want to invest on them as well.
This is a more specialized type of event planning which caters only to specific clients and reasons. Corporate events nowadays are more flamboyant and tend to center on one thing – entertainment. Think of Lady Gaga throwing a party for Polaroid (where she is a creative director). Most likely, that’s the target you are aiming at.
9. Advertising Clipping Service
Old advertising clipping agencies are merely advertisement clippers that focus on monitoring. That surely won’t put them in the top 10 entertainment business ideas. Things have changed and clipping services now specialize in media research and information monitoring. If you know how to monitor ads of competing products and know how to strategically advise and analyze, you surely will succeed in this venture.
Ad agencies are no longer limited to print, radio and TV. Internet has virtually unlimited capacity for ads, whether legitimate or spam. So if you have an overactive brain, then this business for you. If you have the knack for hitting what’s entertaining with loads of “recall” power, you may want to start this service. You may even make it big time and be an internet superstar among ad and creative service providers.
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