Do you want to start your own business? If so, then you’ve come to the right place!
In this post, we’ll explore what makes a great small business in Myanmar. You’ll find out about different types of small businesses and examine the pros and cons of each one. So keep reading if you want to know more about starting your very own small business in Myanmar today!
Table of Contents
Best Small Business Ideas in Myanmar
|Real Estate Business||High||Hard|
|Restaurants and Food Services||High||Moderate|
|Import and Export Business||High||Moderate|
|Digital Marketing Agency||High||Moderate|
|Martial Arts Training Center||Moderate||Moderate|
|Tailoring At Home||Low||Easy|
|Custom Furniture Maker||Moderate||Moderate|
#1: Real Estate Business
The real estate business is hard to get into, but this is one of the best investments you will ever make.
There are two ways you can do this business. One way is the old-school traditional Buy and Hold strategy.
If you invest in rental properties, you can become a landlord. As a landlord, you will be responsible for paying the mortgage, taxes, and insurance. You will also be accountable for its maintenance. You can make money by collecting rent. If your aim is passive income, then the real estate business is for you.
Another well-known strategy is flipping houses. Flippers buy a property and sell it for profit in a short time. For example, flippers usually buy an undervalued property, repair and update it, and then hold it for a short time until they get a profitable deal for it.
#2: Coffee Shop
Opening a coffee shop can be a great way to start your own small business. It’s a low-cost investment, and you can make a good profit if you do it right.
There are several things you need to consider before opening your coffee shop. First, you need to decide what type of coffee shop you want to open. Will it be a traditional coffee shop, or will you specialize in a particular kind of coffee?
You also need to think about the location of your coffee shop. You want to choose an area that is busy and has a lot of foot traffic. Finally, you need to develop a business plan and make sure you have enough money to launch your business.
#3: Restaurant and Food Services
The restaurants’ industry is glamorous. People will never stop eating. Great opportunity for small business entrepreneurs as it requires less investment and high growth potential.
Before starting a restaurant or food service, you need to find the best location possible. Also, you need to do a competition analysis for the site before taking initiatives.
To succeed in a restaurant, all you need is a starving crowd. A Starving crowd is a group of people hungry for your food.
#4: Import and Export Business
Import is the process of buying goods/products from other countries and selling them in your country for a profit.
Export is the process of selling your goods/product in other countries for a profit.
Import and Export are getting popular in Myanmar day by day. However, we should keep in mind that you can only trade with countries with a diplomatic relationship with Myanmar.
#5: Digital Marketing Business
Digital Marketing is the process of utilizing the internet for selling products/services online.
If you have digital marketing skills, there is no better business for you than a digital marketing agency. The barrier to entry is low, but the profits can be enormous.
Today in the world of the internet, earning online is possible and easy. One way to make money is by starting a digital marketing business.
#6: Fish Farming
Fish is one of the most popular food in our diets. It’s known for its richness in protein and healthy fats (omega-3).
Each year, an average person consumes 42 pounds of fish. Most of the fish today come from aquaculture as the oceans are already overfished.
One of the important reasons to get started in the fish farming business is that fish is in demand in Myanmar and throughout the world.
#7: Online Academy
As pandemic has hit the world severely, leading to schools and colleges closure. People have transitioned to online learning.
If you have a passion for teaching, then you can start teaching online. First, you can begin to 1-on-1 teaching and later on scale your business to an online academy.
One of my favorite businesses is blogging. Blogging is one of those businesses which has a low barrier to entry but has high growth potential. By barrier to entry, I mean it takes less investment to get started in blogging.
Not only does blogging cost less to start, but it is also easy to start a blog. You don’t need to be a web developer to create a blog.
You can start blogging as a hobby or as a real business. Your blog can be literally about anything that interests you. For example, my blog on which you’re reading this article is about Entrepreneurship which interests me.
If you can get traffic to your blog, you can easily earn from your blog by monetizing it with ads or affiliate programs. Affiliate programs include selling other people’s products for a percentage commission based on the product through a unique link.
You can learn blogging very easily. One way to learn to blog quickly and start to earn is by taking an online course.
The course I took for blogging and recommended to others is Project 24 by Income School.
Income school also has a YouTube channel where they provide a ton of free knowledge about blogging.
E-commerce is one of the most profitable businesses in Myanmar. You can sell products through social media or your blog. There are different eCommerce platforms that you can use to host your online store, including Shopify, Magento, and WooCommerce.
This will be an excellent business for you if you are interested in fashion as there is a high demand for fashion products in Myanmar. Moreover, you can start your online store with a small budget and scale your business over time.
Another great thing about eCommerce is that you can work from home. You don’t need to have a physical store. You can run your online store from anywhere in the world as long as you have an internet connection.
#10: Freelance Writing
Freelance writing is one of my favorite potential businesses in Myanmar. If you want to start a freelance writing business, then you can make an easy $200-$300 (Around 358,567 MMK) per month from this business by doing only 3-5 hours of work every day.
The great thing about freelance writing is that it is a skill you can use to write for other people’s businesses or even start your own blog and sell eBooks and courses on freelance writing.
#11: Bee Farming
Becoming a bee farmer is the best business in Myanmar because of its high profit and because bees are good for the environment. You can learn bee farming very quickly as it’s one of those hobby businesses that you can start with just $125-$150 (Around 220000 MMK).
Bee farming is a great business because you can scale it up or down as you want. You can also start bee farming on a small scale by keeping just a few beehives and then increase the number of beehives over time if you find that bee farming is profitable for you.
Another great thing about bee farming is that it’s a recession-proof business. People will always need honey, which is the main product of bee farming.
Fitness is essential for good health. Fitness can lower the chances of diseases such as obesity. People want to stay fit, so there will always be a market for gyms.
If you live in a neighborhood with no gym, this can be an excellent opportunity for you to open a gym for your local community.
Gym costs a lot to start, but it can be an excellent investment for passive income.
You can charge your customers a monthly membership fee and then allow them to work out in your gym whenever they want.
#13: Accounting Service
Do you have good knowledge of accounting? If you’re great at accounting and know-how to prepare taxes, then starting an accounting service is the best small business in Myanmar for you.
You don’t need a degree or any special training to start an accounting service.
The best way to start this business is by having your own website and marketing yourself as an affordable and reliable accountant for small businesses. You can then advertise your services and attract local businesses that need help with their books.
#14: Massage Parlor
People work hard throughout the day, so they want to relax and de-stress before going home. If you live near a busy neighborhood or there are plenty of offices nearby, then starting a massage parlor is one of the best small businesses in Myanmar for you.
You can start this business with just $3,200 (5712000 MMK). But first, you need to purchase some massage tables, chairs, and other equipment.
You can charge your customers a premium price for your massages and offer package deals to increase your profits.
#15: Martial Arts Training Center
Do you have experience in martial arts? If so, then starting a martial arts training center is an excellent small business idea in Myanmar.
This is a business that you can start with a small investment of just $600 (1071000 MMK). You’ll need to purchase some training equipment and set up a space where your students can train.
You can charge your students a monthly membership fee and also offer training programs that last for several months and even years.
#16: Tailoring at Home
Do you know how to sew? If so, starting a tailoring business from home is an excellent small business idea in Myanmar.
You don’t need a degree or any special training to start this type of business. All you need is some sewing equipment and fabrics that you can buy from a fabric store.
You can start this business by advertising your services on the Internet and then attracting customers that need customized clothes, curtains, bedsheets, etc.
#17: Daycare Center
Are you good with kids? If so, starting a daycare center is one of the best small businesses in Myanmar for you.
To start this business, you will need some space in your home where you can accommodate a few kids and some essential equipment such as cribs, high chairs, and toys.
You can charge your customers a monthly fee for childcare and offer daycare services on weekends and holidays.
#18: Landscaping Service
If you’re someone who loves spending time outdoors, then starting a landscaping business might be the perfect fit for you!
This small business is excellent for people who love working with their hands and being creative. You can offer various services as a landscaper, so make sure to do your research and find what works best for you.
#19: Fitness Trainer
If you’re a fitness junkie, then starting a fitness business might be the perfect fit for you!
You can start this business with very minimal money. All you need is some training equipment and a place where people can exercise.
You can charge your customers a premium price for your services and offer different packages that include group classes or one-on-one sessions.
Do you like hosting guests, and do you have a space where people can stay? If so, starting a guesthouse out of your home is one of the best small businesses in Myanmar.
This business requires very little investment and only needs essential equipment such as beds, furniture, and kitchen appliances. However, before opening up a guesthouse, make sure to check with your local government to see if there are any rules and regulations that you need to follow.
You can charge your guests a premium price for their stay and also offer them breakfast and dinner services.
#21: Tutor Service
If you’re an expert in a particular area of knowledge, then starting a tutoring business might be the perfect fit for you!
This small business is perfect for people who love teaching and helping others. However, before starting a tutoring service, make sure to get a certification in your subject.
You can charge your students per hour, or you can have them pay monthly fees that give them unlimited access to all of your services.
#22: Driving School
Do you have a driver’s license? If so, starting a driving school is one of the best small businesses in Myanmar for you!
This business doesn’t require a lot of investment. All you need is a space where your students can learn how to drive and some basic driving equipment.
You can charge your students for your services and also offer them discounts for multiple students.
#23: Catering Service
Do you love cooking? If so, starting a catering service is one of the best small businesses in Myanmar for you!
This business is perfect for passionate people and wants to share their cooking skills with others.
There are various catering services that you can offer, so make sure to do your research and find what works best for you. For example, you can charge your customers per event, or you can have them sign up for a monthly plan.
#24: Event Planner
Are you the life of the party? If so, starting an event planning business might be the perfect fit for you!
Event planners are responsible for organizing and coordinating all aspects of a special event. This includes finding a venue, creating a budget, hiring vendors, and arranging transportation.
Before starting an event planning business, make sure to educate yourself on all of the different activities that you are responsible for. Then, you can charge your customers for your services and also offer them discounts if they book multiple events with you.
#25: Custom Furniture Maker
Do you have a passion for woodworking? If so, starting a custom furniture business might be the perfect fit for you!
This small business is perfect for people who are creative and have a knack for carpentry. There are a variety of different pieces that you can make, so make sure to do your research and find what works best for you.
So these were some of the best small businesses in Myanmar. If you’re thinking of starting your own business, then make sure to choose one of these businesses! They are perfect for people who want to work for themselves and have a lot of freedom. And remember, always do your research before starting any business!
Thank you for reading! We hope this article was helpful. 🙂
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