What Are Some Of The Most Profitable Small Businesses

By | March 29, 2023

What Are Some Of The Most Profitable Small Businesses – When people think about profit, they think about it differently. For example, there is a big difference between very profitable businesses and very profitable small businesses.

But if you’re wondering which businesses offer the best financing for small business owners to start, that’s a whole different category altogether. Most of us don’t have access to venture capitalists or the ability to run a business for 10 years before it becomes profitable. That’s why I’m narrowing the list down to profitable small businesses.

What Are Some Of The Most Profitable Small Businesses

What Are Some Of The Most Profitable Small Businesses

We’ll explore which small businesses make the most money, look at some profitable businesses to start from home, and give examples of successful business owners in those areas.

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Hopefully, these real success stories and small business ideas will spark your creative juices and help you build a profitable venture.

Business consulting focuses on helping other business owners solve their problems. You can choose a niche if you have a particular area in which you are an expert, or you can be a solution.

When I started my consulting business, I consulted on everything. One day I’ll review payment processors, and the next day, I’ll be looking for good brand influencers. I eventually started writing about business and technology because it makes it easier to deliver information to thousands of people a month.

Business consultants can earn anywhere from several hundred a day to billions a year. Advisors on mergers and acquisitions can earn huge commissions.

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While only 1/6 of real estate agents are successful, those who do can start a profitable business. Santino Filippelli tells us:

I have been in the real estate industry as an agent, broker and investor, and make over $2 million per year.

Learn how award-winning real estate agent Paul Balzotti built his real estate business in our exclusive interview.

What Are Some Of The Most Profitable Small Businesses

Then check out another real estate investing interview we did with legendary real estate broker Santino Filipe, where he also shares how he built his agency:

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One of the most profitable businesses to start is a cleaning service. Whether you choose to start a housekeeping business or a more specialized niche like carpet cleaning, you can make big money in the cleaning industry.

My father loaned me $3,000, and I took a carpet cleaning course offered by a local company.

Today he earns three times every month. Read our blog on starting a carpet cleaning business and learn why it is one of the most profitable small business ideas.

You can also check out our interview with Chris Mondragon, who makes over $125 a month from his cleaning business. He told us:

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Social media marketing is a huge industry. According to Statista, it is a 153.7 billion industry. All you need is a computer, some software, and other clients to find.

You can expect each client to earn around $2,000-5,000 per month and spend 20 to 40 hours providing them with the right services.

This means a person can earn up to $40 per month from home without investing in shopping. Learn how Jason turned Socialistics into a $500K annual social media marketing agency:

What Are Some Of The Most Profitable Small Businesses

One of the most lucrative businesses involves creating online courses. E-learning is expected to grow at a compound annual growth rate (CAGR) of 14.6% and reach $374.3 billion by 2026.

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Creating an online course can cost as little as a few hundred dollars if you know how to do it yourself, or it can be up to $20,000 per hour, of course, if you’re paying others to create it. Are.

Not only is it cheap to start, but people are willing to pay for online courses if they add real value. In fact, some popular tutoring courses can cost up to $5,000. However, most are under $300 per course.

Another business owner I’ve found very interesting since I started writing is Jazmin Richards, owner of Black Sunflower. He started his small business in early 2020 with $100,000 and has grown it to over $200,000 in annual revenue.

Most candle manufacturers have margins of 40-60% when selling in bulk and even more when they are direct to consumers. This makes it a lucrative career. Watch our interview with Jazmin:

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Payroll services charge a monthly fee for their time and additional costs per employee. There are two ways to go:

You can easily connect with their partners, help people sign up for services, set them up and earn commission on their monthly payments.

It can be a lucrative business, especially if you combine it with something like accounting or tax preparation because it’s extra money to make your job easier.

What Are Some Of The Most Profitable Small Businesses

Delivery services can be some of the most successful small businesses. Although big players like Uber and DoorDash take up the bulk of delivery service revenue, the industry is expected to grow to $192 billion by 2025.

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If you start something similar then just look at the local area and find a better way to sell the business. You can reach around 17% net profit margin. This is why referral services are one of the most profitable business ideas out there.

If you love creating websites, logos, and marketing materials, graphic design may be a good fit because it’s always in demand. You can get started with just your computer and some design software. Find clients on Fiverr or Upwork and start a profitable business from home.

Many people start food trucks because they have more money to make than owning a restaurant. You save money:

To start with, it cost me $41,200. Today, I’m making $417K/year and I hope to keep my food costs under 35%.

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Personal trainers also make a good living. They can earn between $50 and $250 per hour by coaching people to reach their fitness goals. While a private tutor doesn’t have education requirements, earnings are 140% higher with a master’s degree than with a high school education.

Given that people are paying for your information, the biggest expense is business licensing and marketing. If you’re interested in fitness, maybe strength training is right for you.

The construction industry has a 22.73% gross margin and 7.92% net margin, but companies that get it right can do even better. Paul Akers started FastCap when he was a cabinet maker and needed something quick to cover holes from screws.

What Are Some Of The Most Profitable Small Businesses

Recently, it has produced more than 600 products, raised prices only three times in 21 years, and never fired anyone. Watch our interview with Paul to see how he does it.

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If you are a foodie then this might be for you. Running a catering service allows you to prepare delicious food and take it to events like weddings and corporate meetings. At events, you can set up a buffet or serve food in any position you choose. As long as you have a liquor license, you can serve liquor to increase profits.

According to Cater Source, delivery averages 7-8% pre-tax margin. Furthermore, the market is expected to grow to $328.11 billion in 2025. This means there could be between $85 and $97 in pre-tax fees.

Antenatal care, sometimes called postpartum services, is a type of business that helps mothers recover after giving birth. If you’re not familiar with them, they’re part of the medical field and can help with things like:

According to the Institute on Health Care Costs, it is estimated that women spend an average of $3,100 on their care during the first year after giving birth. If someone invented Uber-style postpartum care, it could be a multibillion-dollar success. For example, treatments and other visits could take place in the home and make life easier for women, perhaps postpartum doulas through an app service.

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The current small business environment is ideal for eCommerce. The initial investment is low (less than $1,000), and you can earn over $120K per month. In our interview with Marcus Harvey, owner of Portland Gear, he told us:

Get a domain for $10, shop for $30 a month, do your social media marketing, and buy like 50 shirts for $90 each, and then build from there.

Courier services can be very useful if you have the right professional network to find customers who need papers and other items. Courier service can be done by car or bicycle.

What Are Some Of The Most Profitable Small Businesses

Transportation services typically charge between $1.50-$1.70 per mile, plus additional fees for the following reasons:

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Becoming an attorney is often an easy addition to being a business owner. It usually costs less than $1,000 to obtain:

Most states allow you to pay a small fee for the notary’s work and other fees for driving time and other expenses. Clients would be real estate agents, law firms, accountants and financial institutions that require signed contracts.

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