With its strong economy, Japan offers great opportunities for foreign investors including expats in the country. Business opportunities abound not only in the industrial sector but also in the consumer market.
Foreigners who want to explore the small business sector in Japan have varied choices today. When managed correctly, they have a huge potential to achieve success and gain quick returns on their investment.
Here are areas which foreigners planning to set up a business in Japan can consider.
The retail industry in Japan is huge and as such, business opportunities are unlimited. A good option here is to buy products from manufacturers in bulk and then sell them in a shop. This may need a huge capital, though, depending on the volume of products you want to start selling.
Another option is to partner with manufacturers. This way, you don’t have to shell out a large sum of money for the capital. You can simply collaborate with manufacturers to sell their products but on condition that you pay them only when their products get sold.
The field of agriculture also presents great business opportunities even in a smaller scale. As there’s a huge demand for food and other agricultural products in the country, there’s a huge earning potential awaiting those willing to explore this sector.
With a huge demand for fruits and vegetables among the Japanese, investors can start a business with minimal capital. Livestock products are also profitable these days.
Foreigners who wish to introduce the food of their home country can also open a small restaurant business in Japan. Today, international cuisine is served in the country allowing the Japanese to enjoy the food of other countries without having to leave home. When authentic food is offered and the business is managed well moving forward, there’s a big chance for the restaurant to attract more customers and gain a good reputation not only among the locals but even among foreigners as well.
Bars are also popular these days particularly in the capital Tokyo. And with the 2019 Rugby World Cup and 2020 Olympics in the offing, they are sure to attract many customers.
Leasing a property in the right location is a key factor in the restaurant’s success. Business owners just have to make sure they negotiate well with landlords and obtain the necessary licenses and permits to operate the restaurant legally.
The Japanese love to travel abroad for a holiday and this is a big market to cater to. Foreigners looking to fill this need can put up a travel agency and they can even start online. The travel sector is very competitive these days and there’s still room for investors who want to offer cheap tickets all year round to travelers from Japan. With the many players in existence in this industry today, airlines and shipping lines as well as rail services are offering lower fares to attract more customers.
With any businesses being set up in Japan, not all are prepared for the challenges that lie ahead. For this reason, consulting services provide assistance to entrepreneurs to ensure they are able to sustain their business, attract the right customers and achieve their goals. Those with background in business management can start a consultancy business targeting foreigners who want to start their own enterprise in the country.
Finally, alternative medicine is a sector worth exploring. Similar to China and India, this is a lucrative field in Japan. With a high demand for natural health practitioners and herbal medicine products, foreigners can set up a business that offer ayurveda treatments, homeopathic medicine and even yoga.