Switzerland is a landlocked country in Europe placed between the Swiss Plateau, the Alps, and the Jura covering 41,290 square km.
The Swiss population of 8.5 million mostly reside on the plateau even though the Alps occupy a major part of the country. The largest cities are located on the plateau and among them Zürich and Geneva are the two chief cities that are reputed as economic centers.
Switzerland entails a stable, prosperous and technologically progressive economy with copious wealth. Interestingly Switzerland has being ranked as the wealthiest country on the globe in per capita income for several years.
Hence launching profitable business ideas in Switzerland must be in the bucket-list of every entrepreneur.
Switzerland is renowned as an epicenter for business and investment. In 2018, Switzerland was ranked as the wealthiest country in per capita income, with ‘wealth’ being both financial and non-financial assets. According to the 2018 Credit Suisse Global Wealth Report, Switzerland has the highest average wealth per adult.
Introduction: Profitable Business Ideas In Switzerland
This country is famous for its picturesque landscapes that attract scores of tourists from all over the world. The Alps that cover nearly 60% of this highly mountainous nation. The Alpine ranges are in the south and the Jura Mountains to the north.
As per GDP, Switzerland is the 19th largest economy in the world and the 36th largest by purchasing power. Despite its inappreciable size, it is 20th largest exporter in the world.
Switzerland is reputes itself as a hub for businesses and investment in Europe. As per the Index of Economic Freedom Switzerland has the highest rating in Europe in 2019. Switzerland is renowned as a high-tech stable economy with business friendly regulations, laws, and policies. It provides large coverage to the citizens via public services.
The World Economic Forum ranked Switzerland among the most competitive economies in the world and the EU ranks it as the most innovative country. These rankings have been achieved because of the agreeable policies the government practices when it comes to business and investment.
Switzerland is home to world distinguished firms, but it also depends on small businesses to take the economy forward. So if you are interested in launching profitable business ideas in Switzerland then you are at the right place and this blog is for you.
Profitable Business Ideas In Switzerland
Switzerland is renowned for the skilled labour it houses and an enviable per capita GDP. Switzerland cradles a thriving finance sector that is aided by Low Corporation taxes that contribute to its booming economy.
We have listed here for you businesses that can be launched without high initial costs. Below are a few profitable business ideas in Switzerland.
Tourism Industry
Switzerland is unique as a tourist destination. The country attracts thousands from all across the globe because of its natural beauty and picturesque atmosphere. The Alps encourages skiing when winter dawns that is loved by a hoard of people visit the Swiss Alps during that period. Looking to invest in the tourism sector is a good idea as there are lots of opportunities apart from traditional markets.
In 1995, tourism revenues were $11.35 billion, or 3.2% of the gross national product. This corresponds to 6.95 million tourists and $1,635 per person. After 25 years, the country’s dependence on tourism reduced. Before the Covid-19 pandemic, sales was $21.26 billion, 2.9% of gross national product. Thus, an average of $1,799 per person.
The pandemic floored tourism and of the $21.26 billion (2019), only $9.99 billion remained. Which is a 53% reduction.
As people spend more time at home, home services have become increasingly in demand. You could start a business that offers cleaning, landscaping, or home repair services.
The tourism industry in Switzerland is flourishing and attracts tourists both due to the welcoming nature of the locals and its breath-taking landscape.
There are several other business prospects that can go hand-in-hand with the tourism industry such as photography, local restaurants, nightclubs, guides and tour operators. Consider all of them before deciding on introducing other add-ons along with tourism.
Consultancy Services
Switzerland is famous for a friendly legal system and strong economy. Tech start-ups and innovations is driving its vibrant and expanding economy.
Start-ups and entrepreneurs could benefit from consultancy services to run their enterprises effectively. In Switzerland consultancy services offer a gamut of services in the domains of logistics, insurance, security, technology, finance, and investment.
Switzerland is known as a promising economy with business friendly laws/regulations. The reason why its economy keeps growing is due to the innumerable start-ups and innovations in every field. The country is a hub for investments and has world renowned high-tech firms operating there.
As businesses continue to shift to online platforms, the demand for digital marketing services has increased. You could start a digital marketing agency that provides services such as social media management, search engine optimization, and online advertising.
Switzerland witnesses the birth of thousands of start-ups and a gaggle of investors who are ready to invest in them. Many of these entrepreneurs do not have the necessary experience and lack know-how to run the business efficiently. It is here where consultancies are required.
Therefore setting up a consultancy service that aids and guides start-ups towards a logical and profitable future is a profitable outing. You can charge fees depending on the services you provide.
Food Delivery Business
Switzerland has a large workforce, therefore there will always be demand for food delivery services. Delivery agencies can deliver food either to homes or offices within their service region.
Even though there are several food delivery services, there is still room for more in the market. Many traditional and small restaurants do not have the bandwidth to provide food delivery. Hence entrepreneurs could choose a suitable niche to provide such services.
The process of delivering food from local restaurants or food cooperatives are handled via calls, a website or customised mobile app. Launching a food delivery business is an ideal approach to satisfy your entrepreneurial skills, love for food and financial security.
Payments are usually done via credit/debit card or cash, with the restaurant giving a cut to the food delivery company.
Switzerland has a strong food and beverage culture, so starting a restaurant or café could be a profitable business idea. You could also explore food-related businesses such as catering or specialty food production.
Online Retail Store
Launching an online store is not too difficult due to digitisation and progressions in technology. Over and above you do not need too much investment to launch an online retail business. The requirements are also straightforward – a computer, a web hosting service, and a domain.
You can start an online business following the below mentioned steps:
- Choose an ideal business models
- Decide on the products to sell via research
- Locate your product source
- Calculate product pricing
- Find an e-commerce platform
- Design your store using themes
- Select payment gateways
- Find an efficient shipping partner
- Create a marketing plan
- Build a community
Yoga and Meditation Center
The pandemic brought forward the need to give health its due. This need has given rise to a plethora of gyms, fitness equipment sales and yoga practising centres. The corporate workforce is encouraged to practice yoga and meditation to relieve stress.
Starting a Center for Yoga and/or Meditation is among profitable business ideas in Switzerland. These facilities are thriving and offer a lot of possibilities for both clients and owners.
You can introduce diverse yoga and meditation practises, new techniques, and technological innovative methods to succeed. This industry is flourishing all over the world and has enormous market potential.
There is a growing trend towards health and wellness, and Switzerland is no exception. You could start a business that focuses on fitness, nutrition, or mental health.
In order to do succeed in your business, introduce various forms of yoga and meditation, use new teaching methods with technology to improve on your services while making it feasible for your customers.
Open A Retail Pharmacy Store
Pharmacy business is thriving all over the world due to the Covid-19 pandemic (which has subsided now). But the after-effects of the Covid-19 illness still play havoc in the lives of those who suffered it.
Retail pharmacy business is among profitable business ideas in Switzerland. Launching a pharmacy store is a great idea if you have the necessary credentials. Or you can always hire such talent and invest in retail pharmacy business. You can sell generic or branded medicine of big pharmaceutical companies and even sell medical devices.
The pharmaceutical industry is highly regulated in Switzerland as in all over the world. There are several laws and regulations that govern patents, testing, safety, efficacy, marketing and destruction of drugs on expiry. Ensure to follow all regulations and entrepreneurs can have a profitable venture at hand.
Start Education Consulting Firm
If you have a strong background in education and you plan to launch a business in Switzerland, then you should consider putting up an education consulting firm.
The pandemic altered equations on how education is imparted in different parts of the world. Education has reached a situation where it has become borderless.
The Gen Z community aspire to get educated anywhere in the world but lack information on colleges/universities that provide such education. Hence providing complete information on education related subject is imperative. This can be fulfilled by setting up an education consulting firm.
As an educational consultant you would have to handle all their educational requirements of you clients like admission formalities, visa requirements, stay, etc.
Start Wholesale Pharmacy Business
The pandemic forced people take renewed interest in their health. Thus the pharmacy business also has come in the limelight. Wholesale of pharmaceuticals or medical goods is a wonderful business opportunity.
Manufacturers have distribution centres from where the goods are distributed to pharmacies, specialist retailers, hospitals, and medical practitioners.
Pharmaceutical wholesalers buy drugs, medical equipment and surgical instruments and store them. From there they are delivered to medical/dental practitioners, clinics and hospitals. Wholesale of medicines is among profitable business ideas in Switzerland.
Conclusion: Profitable Business Ideas In Switzerland
Switzerland has a stable labor market with very low unemployment rate that ensures high GDP per capita, excellent healthcare for the masses and a social security system that takes care of every citizen. Switzerland’s tax system is salubrious to businesses, attracting successful companies and high-net-worth individuals for decades now.
Switzerland is known for its commitment to sustainability, and renewable energy is becoming increasingly popular. Consider starting a business that specialises in solar panel installation, energy consulting, or eco-friendly home products.
This has caused a massive increase in wealth for the country as a whole and created one the world’s largest financial centres.
When it comes to the ease of doing business, Switzerland ranks 38 among 190 economies of the world according to World Bank.
Statistics show that ease of Doing Business in Switzerland averaged 27.36 from 2008 until 2018. It touched an all-time high of 38 in 2018 and clocked a record low of 19 in 2008. This is one destination any entrepreneur can find the right niche, launch a business, and succeed, especially foreign investors.
After an Engineering degree and a Diploma in Management I devoted 16+ years working in the automotive industry. My innate skill and extreme passion in writing, encouraged me to adopt it up as a profession. I have been writing for more than 10+ years in the software industry. The 400+ blogs I published are informative, exhaustive and interesting to a professional and causal reader.
