Germany Archives - Credit Card Processing & Merchant Services

Strong economic conditions and an excellence-minded population makes Germany a great place for entrepreneurs to start a small business. Choosing the right small business idea requires an understanding of the German market and German consumers. The following business opportunities in Germany are a strong place to start as they fill an established need or demand. 1. FITNESS BUSINESS Health and fitness is a top priority for many Germans. This is creating demand for businesses in the fitness industry, such as gyms. Currently, only 22.6% of adults in Germany get enough physical activity. This figure is even lower in females, with only 20.5% of women doing enough physical exercise (page 2 of the linked PDF). It seems that many Germans are determined to reverse this trend. Membership at fitness clubs has risen at a rate of around one million members per year since the pandemic. This suggests that gyms could offer a lucrative opportunity for entrepreneurs who are passionate about fitness. Personal trainers can set up a brick-and-mortar fitness centre or offer online fitness classes. Research online personal training pricing models to understand the most profitable ways to charge for your services before you launch. 2. LAUNCH AN E-COMMERCE BUSINESS Germany offers an excellent backdrop to set up business operations as an e-commerce company. Germany has the third highest e-commerce user rate in the world, with 80% user penetration. The most popular products purchased online in Germany include clothing (76%), footwear (73%), food and drink (69%), electronics (61%), entertainment products (58%), and healthcare products (56%). German consumers value high-quality goods but are risk-averse when it comes to buying online. New e-commerce businesses must prioritise reputation and customer security to tap into the growing demand for online shopping in Germany. New e-commerce stores must follow two important steps to establish themselves as a trusted vendor in Germany: Select a Web Hosting Service Choosing the best small business website builder for your e-commerce site is a question of balancing your needs and budget. WordPress, Shopify, and Squarespace each offer their own pros and cons. The best options offer simple and intuitive systems that entrepreneurs can set up alone without needing to hire a web developer. Set Up Payment Processing Setting up online payment processing is a must when starting a business in Germany. A merchant services account with an integrated global payment gateway will allow you to accept a range of payment types and currencies. This is important for German businesses with an international outlook. 3. START A PET CARE BUSINESS It’s estimated that around 25% of German households own a cat and 21% own a dog. This presents many business opportunities for entrepreneurs. Pet care businesses could cover anything from an online pet supplies business to dog walking or even manufacturing your own pet food. Understand Regulatory Requirements in Germany and the EU Having a great idea is only the first step when doing business in Germany. As part of the EU, Germany requires pet food manufacturers to adhere to European legislation. Ensure you understand the rules surrounding the labelling of pet food as well as laws governing raw materials and hygienic manufacturing processes. 4. TOURISM-RELATED BUSINESSES Tourism is a significant industry in Germany. The tourism sector contributed over €453bn in 2023 and employment within the sector rose 5%. However, Germany hasn’t yet reached its pre-pandemic levels of international tourism. That’s expected to change starting in 2024. The World Travel and Tourism Council forecasts that travel and tourism will add €469 billion to the economy this year. Small business ideas within the tourism sector could include: A tour guide business: Tours don’t have to be limited to walking around cities. Consider offering day trips to locations off the beaten track or combine a tour with food or drink for a German gastronomic experience. Tourist accommodation: Every tourist needs somewhere to stay. Consider alternatives to hotels or tourist rentals like glamping. Adventure tourism: Germany boasts stunning natural beauty that ranges from the heights of the Alps to the peace of the Black Forest. It’s the perfect setting for intrepid explorers who love adventure. 5. EVENT PLANNING Germany is an international business hub, meaning that there are ample opportunities for organising corporate events. Event planning doesn’t only need to take a corporate angle, however. Event planners can also organise weddings, birthdays, religious events, and everything in between. WHY SET UP A BUSINESS IN GERMANY? Germany is a thriving, central European country and the world’s third-biggest economy. This European powerhouse offers numerous advantages for businesses looking to establish a presence in the region. Here are some compelling reasons to set up a business in Germany: Strong Economic Foundation Germany boasts a robust and stable economy, providing a secure environment for businesses to thrive. Its large and affluent population has a high purchasing power, which is favourable for both online and physical businesses. Skilled Workforce Germany’s reputation for hard work precedes it. The country has a diverse and highly skilled workforce with a strong emphasis on technical education and vocational training. Its workers are known for their dedication, reliability, and strong work ethic. Strategic Location Germany’s central European location gives it a strategic business advantage by providing easy access to other European markets. Germany’s excellent transport infrastructure facilitates efficient logistics and distribution across the country and beyond. MAKE YOUR MARK IN GERMANY Germany offers an ideal business location to set up a thriving and lucrative business. Germany’s strong and stable economy, skilled workforce, and diverse population are key reasons to start a business in Germany. Germany offers a range of opportunities for entrepreneurs with a great idea and the passion and tenacity to follow through. Look for a gap in the market in any of the industries mentioned above for a potentially successful and profitable venture.

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