Are you looking for a Profitable Business in Turkey? If yes, by the time you go through this article, you will have discovered the best business opportunities in the country and decided on the most profitable one to invest in.
Turkey, also called Türkiye, country that occupies a unique geographic position, lying partly in Asia and partly in Europe. Throughout its history, it has acted as both a barrier and a bridge between the two continents.
Since its inception in 1923, Turkey has operated a mixed economy, in which both state and private enterprises contribute to economic development. See Profitable Business Ideas in Togo.
The economy has been transformed from predominantly agricultural to one in which industry and services are the most productive and rapidly expanding sectors.
A decade into the 21st century, the services sector engaged about one-half of the workforce, while agriculture and industry each occupied about one-fourth.
As you read this article, you are going to get more insight into Profitable Business Ideas in Turkey.
Most Profitable Business Ideas in Turkey
The following are the most profitable business ideas that you can do in Turkey:
Salt production company
Turkey is the 15th-largest salt producing country in the world, and it averages 4,000,000 metric tonnes annually. The top 10 countries by salt production are: China, United States, India, Germany, Canada, Australia, Mexico, Chile, Netherlands, Brazil.
Turkey is surrounded by the sea in three directions, and salt production from the sea is gaining in importance, thus making it a profitable business to start in the country.
The process of natural raw salt production includes Recrystallization, evaporation, salt excavation and storage, and you can carry out this process in a small scale serving your intimidate community, or in a large scale for the international community.
Open a tourism agency
One of the most beneficial business opportunities that would serve you well in Turkey is opening a tourism agency. The reason why entrepreneurs should take this opportunity is because Turkey has become one of the most visited places in the world.
So then, it can be a very great idea for you to provide all the best services for the tourists in the country. In simple words, it would be nice if you started a business that can provide essential services to tourists, such as helping them book their hotels and flights, arranging for sightseeing and taxi services, etc.
The best part is that there are no complicated and difficult regulations or requirements that you have to meet before you start this business.
Become a tour guide
An easier and less stressful form of starting a tourist agency is becoming a tour guide. There are 13 spots in Turkey inscribed on UNESCO’s list of World Heritage Sites and a whopping 62 on the tentative list.
They range from a Mesolithic temple (Göbekli Tepe) to a Biblical city (Ephesus) to a World War One battlefield (Gallipoli), and all these help make Turkey the sixth most-visited tourist destination in the world.
The country is ranked to be the world’s sixth most visited land. So becoming a tourists’ guide is surely one of the great small business ideas you can start in Turkey. One good thing about this business is that you can start it with little or no startup capital.
Roadside Assistance Service
A country with a huge population and a steady influx of tourists needs a roadside service in order to help stranded road users.
With more people using their vehicles in Turkey, you would never lack for business especially if your assistance service is located in a visible point of the road.
Note that in this type of business, the more stands you have, the better for the road users and your business, so you should endeavor to expand your business as soon as possible.
In Turkey, there is a huge demand for cleaning services. A large number of people visit Turkey and to keep the interest of travellers, the city should be kept clean.
It will be great to start a cleaning service to earn good profit in Turkey. This is another business that does not require an arm and a leg to start. You can start small and grow it big.
Goods Delivery Services
Another profitable business you can start in Turkey is a goods delivery service. This business is guaranteed to thrive because a large number of local stores do not provide delivery services.
You can be the one to help the consumer as well as the store owners to deliver the desired products to the consumer’s location safely.
What you need to make a success out of this business is a means of delivering your goods such as a vehicle, motorbike, or even a bicycle.
Hazelnut farming and exportation
Statistics has it that Turkey is responsible for about 80% of the world’s production and export of hazelnut. In case you don’t know what Hazelnut is, it is a sweet-flavored nut that grows easily in Turkey. It is also known as filberts.
If you intend to invest in the agricultural sector in Turkey, you should consider going into hazelnut farming and exportation since Turkey is one of the most fertile grounds to grow this nut. You only need to identify countries that need this nut and start negotiating export terms with them.
Open a Construction Company
Construction is one of the key sectors in Turkey, and equally one of the main drivers of public and private investment.
There are large construction companies as well as small ones that undertake niche services. If you want to establish a profitable business in Turkey, you will be well served to open a construction company.
Supply Vehicle parts
Turkey is a market of 74 million people, with a great majority of this population owning cars. The largest automotive companies such as Ford, Fiat, Renault, Toyota, Hyundai, Mercedes, Citroen, etc., have factories in the country, thus helping in the steady supply of vehicles.
But the country is still in need of industries that can supply automobile parts as the ones in existence are hardly sufficient.
This has just opened up a business idea for the savvy entrepreneur. You can start a business in this industry and either manufacture or import your vehicle spare parts. As this is still a growing industry, you are guaranteed a good portion of the market.
Become a telecom subcontractor
In the market, there are few telecom operators because of the huge entry barriers (state regulation, mainly).
However, there are interesting opportunities in the provision of services, especially for the integrators that subcontract directly to these operators.
So, if you have the ability and capability, you can become a telecom subcontractor in Turkey. This business is quite complicated and can prove to be capital intensive, but it is a very profitable venture.
Start a Waste Management Company
The environment sector has gained in importance in recent years as one of the priority sectors for the Turkish government.
Turkey’s rapid industrialization and high population growth (one of the highest in the OECD) along with the expansion of cities, have created complex environmental problems related to public services, especially that of waste management.
You can start a business in a niche area in the waste management industry and make loads of profits. Note that you can start up by setting up a business that supplies waste water treatment services, sewage treatment and management, solid waste management, etc. Turkey as a country is ever ready to support businesses in this area.
Open an energy plant
The clear intention of deregulation and privatization of the Turkish government in the last decade coupled with a solid legal framework and increasing domestic demand, makes Turkey a key country for energy investment.
Government sources said the sector needs an investment of approximately 130,000 million by 2022 and is urging investors to key into this field.
Though energy is a high capital investment sector, but it would be easy to recoup your investment and make profits if your business goes well.
Produce medical equipment
Since 2008 after the government announced the introduction of a universal health care system in Turkey, the country has been trying to improve their healthcare sector, especially in the construction and equipping of hospitals.
Almost all the medical equipment used in the country is imported, thus indicating a key industrial need to be met in the country. If you have the financial wherewithal, you can set up a company that manufactures medical equipment in the country.
Start a frozen food business
The Turkish food industry has grown steadily in recent years. The growth of disposable income and the changes in consumer trends, along with the increasing number of women employed full-time (in a still conservative society in general), have caused an increase in the interest in processed meals and frozen foods.
To meet this need, you can set up a food business that produces and sells processed and frozen meals so that people can buy them, heat and then consume them without much stress. If your business manages to take off, it will become profitable because people always have to eat.
Mine natural stone
Turkey is the fourth largest producer of natural stone in the world with over one hundred varieties of marble, travertine, limestone, slate, basalt, tuff, andesite, diabase, granite, and onyx. It owns the 40% of the world reserves of marble.
So it is a great idea to start the business of natural stones in Turkey. One way to do this is to set up a business that mines these natural stones.
While doing this, you have to make sure to obey the rules and regulations as it relates to mining so you don’t get in trouble with the law.
Start a textile business
The textile industry is one of the most important sectors of the Turkish economy. Representing approximately 10,8% of GDP, it is one of the leading sectors in manufacturing, employment, investment, and macroeconomic indicators.
You can take advantage of this growing sector to set up a business where textile of every kind is manufactured. See Profitable Business Ideas in Thailand.
If the market in Turkey is saturated, you can easily export your textile to other countries that have the same culture as you.
Become a financial analyst
The Turkish financial sector is undertaking a major development process, with the financial services expanding solidly on the basis of the current economic growth, low inflation and a decreased interest rate.
Despite the global financial crisis, the Turkish banking sector has maintained a stable position in the world. You can as well become a financial analyst to help individuals and businesses with their financial problems.
Start a bio-chemical company
The Turkish chemical sector has been developing continuously in recent years. Today the industry provides not only raw-materials but also intermediate products to other actors in the economy, especially automation, leather products, glass, textiles and paper.
You can set up a bio-chemical company where you get to manufacture improved products that would edge out old ones and get a comfortable place in the market.
Start a Water Damage Restoration and Repair Service
Every year in Turkey, unanticipated emergencies produce havoc in the lives of residents: heavy rainstorms, flash flooding, burst pipes, overrunning cleaning machines, and a wide range of other unanticipated accidents soak carpets, drapes, upholstery, and other house or business furnishings.
These crises often harm costly floor covering, and warp wooden paneling and furniture. They may cause molds and mildew to proliferate in drywall and basements or threaten the integrity of decks, stairs, and other wooden structures.
This is where a Water Damage Restoration and Repair Service comes in. You can start this business to help residents curtail water damage to their homes.
Become an Industrial subcontractor
The Turkish subcontracting sector has developed widely over the last few years. Thus, a lot of companies are in the subcontracting industry. The subcontracting industry in Turkey is set to bloom and it would serve you well to start a business in this area.
Start an export business
Exports have been one of the main drivers of Turkey’s economic growth together with numerous opportunities.
Turkey is a prime location to host headquarters for many multinational companies thanks to its excellent connectivity, unique setting, and strong bonds with its neighbors.
Turkey is a good exporter country because Turkish products are as quality as European products and as cheap as Chinese or a bit expensive than Chinese.
Also, Turkey is a stable country that has a lot of trade agreements with nations all around the World and unions and international organizations.
Another reason why it is great to start an export business in Turkey is that the country has low export taxes.
Start packaging meals for sale
In Turkey, along with men, a great percentage of women are employed and the number is increasing day by day. This is the reason why the business of packaged foods is booming in Turkey and the demand is increasing continuously. You can start a business that prepares and packages meals for sale.
The market for this kind of business is growing rapidly in Istanbul and other cities of the country at a fast pace.
Starting Uber Business
The business of Uber in Turkey has been growing tremendously. You can either hire a driver, and let him drive your car while using the Uber app, or you can simply drive on your own; it depends on your budget, priorities, and a few more factors.
Your income can be increased as you increase the number of your working hours. It is an excellent idea of business in Turkey today.
Pet Care Business
A large number of people in Turkey love keeping pets, particularly dogs. They need someone to take care of them, to provide them pet care services, to take them for walks, etc. They are not reluctant to spend money to get a surety that their pet is safe and doing well.
So it can be one of the suitable small business opportunities in Turkey for foreigners who have enough experience with keeping pets and taking care of them.
If you do not have a lot of disposable income to start a pet care service, you can start with a pet sitting or pet walking service that would not make much demand from you financially.
Start a Petrochemical Business
The industry of petrochemicals is also booming in Turkey. You can start this business on a small scale initially and then expand it with the passage of time as you gain more experience and exposure.
You should not just relegate yourself to the business of raw materials but you can also start dealing with finished goods like leather and glass. This is one of the most profitable business ideas you can start in Turkey.
Open a Salon
The people of Turkey are very trendy and they are conscious about their looks. So, if you are a good makeup artist and hair stylist, you should, in fact, start nursing the idea of starting a hair salon in Turkey. This business is not only profitable, but it is easy to start.
What you have to make sure of is that you have the required skills to get customers coming back to you. If you do not have the finances to rent a facility for your salon, you can start a mobile salon business. All you need for this business are your tools and the vehicle to take you around.
I believe you have seen useful information in this article. In case of any other questions about Profitable Business Ideas in Turkey, kindly make use of the comment section below.