Gold Coast, Australia’s largest city outside of the capital, is a coastal paradise. It is a popular tourist destination, boasting beautiful beaches for surfing, a vibrant nightlife and luscious rainforest. The city has more than 76,260 businesses and a fast-growing economy with a gross regional product of $40.98 billion dollars. It is a hub of digital and business investment.
It is therefore the perfect time to invest in a Gold Coast and get the most return on your investment. There are many business opportunities in the city for investors and entrepreneurs who wish to be a part of its thriving commercial industry. Here is a list with the best business ideas in the Gold Coast.
1. Franchise
The franchise system is a very popular option for budding entrepreneurs. It allows them to run a business and receive support from both the network as well as the franchisor. It is also helpful to get trained on the standard operating procedures.
These turnkey businesses are already established with a brand name, customer base and policies. You can also select from a wide range of business verticals in order to find the franchise that best suits your needs, finances, and experience. You can choose from a variety of franchises including marketing and food franchises.
2. Takeaway Food
Takeaway food allows restaurants to continue to sell to their customers. Fast-food chains, food trucks and other dine-in restaurants have all played an important role in the growth of this sector. Takeaway food is becoming more popular with the rise of third-party delivery services.
Working professionals who are short on time can order takeaway and enjoy the food in their own homes, avoiding cooking. Takeaway food is a growing industry thanks to the increase in demand.
3. Cafeteria and Coffee Shop
Australia is known for its coffee. Over 13,000 cafes are spread throughout Australia. The coffee shop market is worth $5 billion. The coffee shop industry has recovered quickly from the effects of the pandemic. Coffee Shops located in commercial areas are doing well. Those that serve quality coffee are also getting the attention of consumers.
The potential of this industry can be leveraged by food entrepreneurs who want to make a name for themselves in the field. The industry is expected to grow over the next few decades as restrictions are being eased and consumers spend more.
4. Food
Food industry plays a major role in the economic development of Queensland. The food industry is divided into several areas, such as manufacturing, storing, processing and servicing. State holds a dominant position in the areas of agriculture, fishing, wholesale and retail and processing. This billion-dollar business is recession-proof because food is a need and is always in demand.
The Queensland Government also spends on research, development and extension in agriculture and food. This ensures exceptional growth.
5. Restaurant
After the COVID-19 restrictions, the Australian restaurant industry should show a positive trend. Cafes and fast food chains are also keeping up with the pace into the sector’s market share. Restaurants offer the exotic food from around the world.
The number of food connoisseurs that love to dine in a finely-appointed restaurant is growing, and Australia’s popularity as a gourmet country hasn’t diminished.
6. Building and Construction
In Queensland, the building and construction sector is growing rapidly. It includes areas such as demolition, restoration, repairs, housing constructions, commercial buildings, and infrastructure development. The need for construction and building has increased with the increasing population and businesses.
The sector employs a wide range of skilled workers, including builders, plumbers, and landscaping professionals.Government policies for infrastructure development are expected to help the industry grow.
7. Automobile
In Queensland, the automotive industry is made up of close to 16,000 businesses that generate over $7.24 Billion. The sector has grown to be highly diversified as the number of cars on the roads increases every year. The sector has grown to include mechanical repair, automotive retailing and the sale of spares and equipment.
In the next few years, this industry will continue to grow and be attractive to business buyers looking to buy a turnkey operation with a customer base.
8. Retail and Shops
In 2023, the retail turnover in Queensland grew by 0.6%. This sector contributes significantly to the economy, and is experiencing a revival due to e-commerce. The consumers are now more confident in their online purchases and buy without inhibitions. Retail sales are likely to surge during the holiday shopping season, demonstrating the sector’s resilience.
The retail sector is expected to continue its growth as customers return to physical stores, and their purchasing power improves.
9. Hairdressing
Hairdressing in Australia is a $7.9 billion industry, making it a lucrative business for beauty entrepreneurs. Hairstylists or beauty experts can start a lucrative career by buying an established salon. Owning this business can be rewarding, as everyone needs a haircut.
Conclusion
It is much easier to start a business when you buy a Gold Coast business for sale rather than starting from scratch. You can achieve your goals much faster and for a fraction of what it would cost to launch a new business. Consider obtaining a Business License if you plan to start a business in the Gold Coast, consider getting insurance policies from BizCover to protect your business.
