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6 profitable small business ideas in Melbourne

Melbourne – the capital of Victoria – is a vibrant, multicultural city. It’s laneways host an array of bustling small businesses, from bars and cafes to boutiques, galleries and theatres. Indeed, Melbourne is a fantastic city in which to start a small business.

Are you considering business opportunities in Melbourne? Perhaps you are looking to buy an existing shop or start your very own small business from scratch. Here are some helpful business ideas that may inspire you.

1. Cafe

Food & Wine magazine ranks so opening your own café can be a lucrative choice. Select a strategic location for your café – ideally somewhere close to industrial areas, offices, or universities. Your cafe should offer a variety of hot and cold beverages as well as food options. Don’t forget that attractive decor and great customer service are essential for success.

2. Florist

There will always be a market for flowers for special occasions. Create beautiful bouquets in a variety of sizes and flower types, and increase your profit margin with door-to-door delivery and online bookings.

3. Gym

Melbourne is a sport-loving city with many keen fitness enthusiasts. A gym is an excellent business idea in Melbourne. You will need large and well-located premises for your gym, and you will need to invest in quality equipment and skilled personal trainers. To accommodate people with all types of careers, consider extended trading hours for your gym.

4. E-Commerce

An e-commerce business can be a great small business idea in Melbourne which boasts one of Australia’s largest shipping ports. You can sell a variety of items online, from apparel to electronic gadgets and more, eliminating many of the overheads associated with traditional retail trade.

5. Social media agency

With social media a key aspect of digital marketing for all businesses, starting an agency that offers social media management can be a great idea. Much social media work can be undertaken remotely, meaning that you can work from the comfort of your own home.

6. Online teaching

Being a digitally savvy city, Melbourne is a great place to offer education as an online service. You could start an online tutoring business to teach or tutor students from primary school and high school, or even university students. You may also consider online vocational training such as web design, graphic design, and beauty care.

Small business insurance made easy with BizCover

A big part of succeeding as a small business owner is ensuring that your business will endure long-term, which necessarily involves reducing your risk.

At BizCover we make securing business insurance in Victoria fast and easy – and without the drama that can come with purchasing business insurance.

We provide a quick and easy way for small business owners in Melbourne to compare competitive business insurance quotes online and purchase their business insurance in less than 10 minutes – and with zero paperwork.

Common types of business insurance that you may consider for your new business include:

  • Professional Indemnity insurance: Protects your business from losses arising out of acts, errors and omissions.
  • Business Insurance: An insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs.
  • Public Liability insurance: Safeguards against third-party claims for personal injury or property damage caused by your business activities.

Visit our dedicated online destination for small business insurance to compare competitive business insurance in Victoria, get covered in just 10 minutes, and get back to business. If you prefer to speak with us, you’ll reach our friendly team on 1300 920 867.

This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.
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ABN 68 127 707 975; AFSL 501769

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