Which business is good in Ukraine? What is the trendy business in Ukraine and which business is good?
This is one of the most popular questions which we receive from our potential clients are we really believe that 95% of them should not really think about making such investments. Why? Let’s think about it together.
What is a trendy business?
This is a business that started some time ago, and because it is good and most likely very profitable, more and more people are getting engaged in it and catching the market trend.
Trendy business can appear because of many reasons. For example, there are some changes in low, which lead to some good opportunities to make money. Or some other facts happened, which lead to some business growth and whatever. So actually it is some opportunity which recently appears and the one who is in the beginning of this trend with definitely get the biggest benefits,
Which business in trendy in Ukraine?
The answer to this question is very desirable, but not to be able to invest in it as well, but just to know which business you shouldn’t consider or still can do but with much fewer expectations.
Let us just tell you a couple of examples, so you can understand why it is not a good idea for foreigners to think about trendy business ideas.
Import American cars to Ukraine
If you would have such an idea in 2016 – you would earn so much money in Ukraine with almost zero competition.
But now…. well, don’t think about it anymore.
So what is the point of business? The point is to buy car from American auctions, where you can really find it for a super cheap price, but yes, it would be damaged. Find a car which is easy to repair, like change the doors, food, replace some items and you can buy let’s say 3 years old car full size (let’s say some Toyota), for 4000 USD. Ship it to Ukraine, do all kinds of customs clearance (which depends on the cost which you paid for the car), do repair and your expenses will reach to 8000-9000 USD. The market price of the same Toyota in Ukraine is 20000 USD. Ok, lets say you will be honest and say I had a little accident and replace the door. so you will give a discount for the person and sell it for 18 000 usd. So basically, you made about 10 000 usd in one car. Isn’t it an attractive business idea?
Sure it is! So that’s why so many people start doing such business and advertising such cars.
What happened with the market?
First, customers start understanding that the initial cost of those cars is very small, so they would not agree to buy it anymore with the same cost as you can buy a normal used car from Ukraine. So basically prices for such Toyota drop from 18000 to 15000 usd. Still good. So more and more people start doing such business, bringing cars from USA and market got a way more proposals than demand.
So what is happening after? Right, the prices are going more and more down as there are plenty of proposals on the market, so people start choosing between a lot of options. To sell cars faster, the price drop from 15000 to 13000 or even 12000 usd.
So actually, from the earnings of 10 000 usd such business idea reach to 2000-3000 usd and also more extended in time.
And the cherry on the cake – the government which starts thinking about not allowing the import of cars which was considered a total loss. Which will make such business totally haveing no sense.
So from the great business idea to a trendy one in 2018, now in 2021, I would not suggest you think about such business at all.
But while it is trending, cant I catch some benefits still?
Actually, you can. But you must be ready right now, with money on your hands, to invest in a business. With all aware that the greatest period is already in past but still you can enter to the market and get some benefit for specific period only.
But most of the people, when ask about some “trendy” ideas, they still do not have money, they are not ready to invest, they just asking about options for the future, so maybe in 6 months or 1 year, they can finally reach Ukraine and start thinking about doing some business (which is trendy and guaranteed as or their belive).
Such a strategy will not work, unfortunately.
How to catch just potential trendy business?
Yes, that is the real great catch and to be able to detect a trendy idea, you should be innovative, knowledgeable, and feel the sense of which idea may really work great. YOu actually should be a pioneer and inventor of new business ideas.
Not everyone can do so but if you can – that would be the best.
As another option – you can get in touch with some business advisors, who are scanning the market trends, law changes, and opportunities, and let them notify you about potential business opportunities and describe your benefits and perspectives.
Anyway, investing in new opportunities still always has risks so you should be ready to accept such risk and from another side, do an evaluation of the situation by itself.
Where to invest in Ukraine?
And if you are not ready to take a risk and open new markets in Ukraine, we suggest you look at the fields of business that have stable but good demand on the market.
For that you should follow standard advice for someone who is starting a business: find your niche, decide why you are different, what are the advantages among competitors, and so on. Good preparation and market research – and you will have great business running with a stable income.