Most Profitable Small Business Ideas
Get inspired by our post on the five most profitable small businesses this year. Mobile Businesses, Child-Oriented Businesses, "Sharing Economy" Businesses, Online Education Businesses, Freelance Marketing / Sales Application Service Businesses
Some people start entrepreneurs knowing which industry they want to dominate or what kind of business they want to start. Still, for many new entrepreneurs it is difficult to determine how to start a business and exactly which business is the best option for them. Not everyone has the opportunity to catch the perfect idea.
If you're determined to start your own business after all, you have to be sure of these two facts: Do you want to be the boss of your own business or make a profit? As soon as you are sure of your answer, you can embark on an entrepreneurial adventure.
Well, do you have any idea what you can do?
Or are you still trying to find the right business idea? Then get inspired by our article on the five most profitable small businesses of this year that we have prepared for you.
It is possible to collect the most profitable businesses of this year under the following 5 headings:
1. Mobile Businesses
2. Child Focused Businesses
3. "Sharing Economy" Enterprises
4. Online Training Enterprises
5. Freelance Marketing / Sales Application Service Businesses
These types of jobs are growing rapidly every day, so they can provide a quality life for you and your family. What's more, none of them require large capital to get started. With the right combination of diligence, determination and skill, you can own one of these profitable small businesses.
1- Mobile Businesses
Although the mobile application industry is the most popular industry of our time, what we will talk about in this section has nothing to do with mobile phones. When we say mobile businesses, we are talking about businesses that offer their products and services to their customers everywhere, that is, they go to their customers. The earnings arising from the industry are expected to increase in the coming days, but considering that consumers have less and less time every day, it is obvious how profitable growth process awaits mobile businesses.
To help you take advantage of this rising trend, take a look at the mobile business ideas we will list:
Even for simple repairs, it can be difficult to get your car to a mechanic. After all, most of us use our cars to get from place to place! That means having to hand over your car for repairs - which means waiting hours at the garage, renting a car daily, or trying to coordinate with a friend or partner to get somewhere. These options are both expensive and inconvenient.
The good news is that although some of the repairs require complete equipment, there are already many maintenance and repair service centers that only need a few simple tools to complete. If you are skilled as a mechanic, you may want to consider venturing into this industry. You can provide mobile services to your customers, such as oil change, fluid filling, battery replacement, headlight repair and more, while on the road or in the office car park.
It is thought that the idea of selling food with trucks will grow day by day. Because as rents increase in big cities across the country, it becomes increasingly difficult for an ordinary shopkeeper to finance a workplace located in busy city centers where customers are concentrated.
Food trucks offer a great solution to this problem. Depart and park at local events, farmers markets, town square; Anywhere you can reach the crowds is suitable for this job. Thanks to the low cost overhead of a food truck and its increasing geographic versatility, you will be able to turn your grandmother's famous dumpling recipe or any food sale idea that you haven't yet created in your mind into an ever-growing enterprise.
Remember that big, trendy cities can already have a fairly busy food truck market; So if you start in a relatively small city, you can be much more successful. You should also take into account that the food truck industry has its own rules, commercial license, and safety compliance standard.
Car Wash Services
Most people would be willing to pay much more for a mobile car wash service that will come to their feet rather than driving miles for car wash service. This is especially true for people with luxury cars who prefer a personalized service. As a mobile car wash service, you not only benefit from the unique value proposition of mobile service delivery, but also avoid considerable initial costs of owning a physical location.
Not sure how to start your own mobile car wash? You can benefit from online distributors that sell detailed car wash starter kits and provide training for those who want to start their own business in this niche sector.
Electronic Instrument Repair
We wouldn't be exaggerating if we say that everybody in the world is messing with electronic gadgets these days. Because each of us spends most of our waking hours looking at some kind of screen. This pervasive technology addiction means that in situations where something goes wrong, people will seek help as soon as possible.
This is the main reason for the popularity of mobile electronics repair services. You can be the solution for every broken iPhone screen, every Wifi card and every laptop battery. Add to this to go up to the customer's feet, okay, you hit the jackpot! Apple stores etc. electronics retailers are on the line of fire due to long customer retention times that can work in favor of mobile providers lately. So it's time to take action to get started!
Although embarking on a mobile electronics repair business has costs in the form of purchasing consumables, not having a fixed location will save you from the high cost of a physical location. This means you will have a lot more money in your pocket.
Turning your love of being fit into a career doesn't mean you have to work in a big corporate gym - you don't have to pay the expense of creating a new place for yourself to train your clients. Load a few weights, bands and yoga mats in the trunk of your car to start your fitness show.
Offer your clients the opportunity to take lessons in their own home or give group lessons in your city park or cultural center. Making sports something easy for your customers can be an exit ticket that will get both sides to their goals. Nowadays, the popularity of health and fitness businesses is increasing day by day as people attach more importance to healthy eating and exercise.
2- Child Oriented Businesses
The number of mothers for the first time in 2016 alone was 1.2 million. This figure implies exactly that for small business owners: Children are everywhere. And the same children represent job opportunities waiting to be activated.
How would you like to take a look at these child-focused consumer needs that maybe your small business can meet in the coming days?
Let's get started right away:
Newborn and Post-Pregnancy Services
The need for post-pregnancy and newborn services is increasing day by day. In particular, the demand for maternity and breastfeeding coach consultants has increased significantly, and both business options have no significant costs other than training and certification costs.
After School Activities
Although the number of children increases, the budget allocated to education is gradually decreasing, indicating the existence of a new bread door for both academics providing traditional education and those who are engaged in enriching activities such as music, art and athletics.
As a result of the budget constraint, more and more parents are turning to private businesses for enriching activities outside of school. A new income has already been opened for gym centers, music schools, swimming instructors, children's yoga teachers and other child-centered activities.
If you have a talent to teach young students in one of these fields, you already have a profitable business idea.
Mobile Apps and Entertainment
If you are interested in technology or entertainment, how about directing this talent to the youngest consumers of technology? Studies show that even if experts suggest otherwise, children's demand for tablets, apps and mobile entertainment is increasing day by day.
Have an educational app idea for kids or parents? So now is the time to bring this brilliant idea to life for generations to come.
3- "Sharing Economy" Enterprises
We want to have less and less every day. This is actually the basic message of the sharing economy. The idea of resource allocation as a small business opportunity has made significant progress over the past few years, whether due to environmental concerns, economic necessity, or simply the desire for greater human connectivity. Moreover, although there are many opportunities for large-scale growth in the sharing economy, there are also numerous opportunities for local and small business level.
Maybe the next Uber or Airbnb-like business idea is yours, how about? Or you prefer a much smaller scale enterprise.
Accessories and Apparel
"Wardrobe" etc. websites benefit from the sharing economy by offering second-hand clothing and accessory sales services by seizing a small portion of the purchase price. There are also websites that offer clothing rental services. In this way, such initiatives are highly profitable, as the same piece of inventory will generate revenue more than once.
Think you have a fashion eye or a sense of style that no one else has? Then you are ready to be the next "big thing"!
Don't panic, even feeling ready to start a multi-million dollar fashion venture can make money from your local fashion posts. For example, how about putting together your favorite accessories or outfit choices and hosting a dress rental party for high school students before the end of the year prom. If you live in a city with a university, contacting student clubs is another great opportunity to take advantage of the sharing economy fashion. And because you take shipping costs out of the equation, you'll also have the potential for a much higher profit margin than your much bigger startups!
Home Decoration Equipment
Are you the wrecker of your neighborhood?
Well, are you a neighbor who has all kinds of decoration equipment in his home and who will not be afraid of moving the lawn, garden or home repair / maintenance equipment when necessary, even under the hot sun?
If your answer is yes, why not take your equipment moving business one step further than your neighbor or friend group and turn this advantage you have into a profitable business?
You may even consider investing in more specific and higher cost equipment that will be useful to those around you. If a customer doesn't know how to use a particular vehicle, you can combine equipment rental service with a mobile equipment user service so you can earn more money. This business can indeed turn into a profitable opportunity.
Holiday Home Rental Deals
Airbnb and VRBO-style sites have made it easier than ever to profit from your unused vacation home or even your extra bedroom. If you live in a tourist attraction, you can rent your home to travelers for an affordable price and make new friends in the process!
4- Online Training Enterprises
Which sector are you an expert in?
What exactly your knowledge would you like to share with people around the world?
Online business owners earn some serious money by offering course services either through educational platforms or independently, ie on their own websites.
You need very little to start teaching online. An online platform (think Udemy or Rainmaker) means there's nothing you can't do with some content and a little bit of viewers. To find your audience or attract more viewers, you may need to determine your target audience well and spend some money on marketing methods. When you complete these steps, you don't have to spend anything else or limit the number of participants.
If you're not sure where to start, check out if any of these niche topics are right for you:
Whenever we think about education, our minds immediately drift to traditional university courses. While academic courses are not the only subject suitable for online courses, this is a highly viable option.
As long as schools strive to prepare students for both standardized tests and for life outside the classroom, teachers and specific subject matter experts will have ample opportunities to earn income with online courses.
At the grade level, try a course supplement service to prepare for math, science or history, or even standardized tests. You can even offer an intensive course for parents to help their kids with math homework! If you are creative, your possibilities are truly endless.
You don't need to limit academic classes to high school or even university. You can also share your interest in political history, Buddhist theology, or anything else that isn't too complicated in these classes. Don't say, "Who's interested in what I'm telling you?" If a topic has caught your attention, it is highly likely that you will encounter other people who may be interested in the same topic.
Foreign language education
As communication opportunities increased and borders blurred, almost everyone around the world became interested in languages. Whether you are an expert in English, Turkish or Urdu, you will find someone who wants to study language from you. And it is certain that these people will be willing to pay you. If you can speak one of the most popular languages, especially for 2019 and beyond, such as Arabic, Spanish and Mandarin, you are holding a business opportunity that will grow day by day.
If you specialize in an uncommon language or are particularly interested in teaching a more widely known language, creating an online language-based training platform would be a profitable venture.
Business and Marketing Education
Although social science education provides the training of critical thinking people, many university students graduate from their schools without basic marketing skills that will enable them to be successful in the business world. Do you think you can fill these gaps using your own expertise?
Congratulations, you have an amazing income opportunity with a very low initial cost.
What skills / lessons have you learned the hard way regarding your own job or career? Share your expertise with other entrepreneurs through an online course focused on business and marketing. Popular course topics include bookkeeping, QuickBooks accounting, WordPress web development, graphic design, client proposal development, even cover letter or resume writing.
Personal Health Services
Are you a therapist or counselor, or a yoga instructor or a life coach? Are you someone who has been meditating for a long time? If you have a deep passion for personal health, you can help others find their "zen". On the other hand, you earn a considerable income. All you have to do is share what you know.
Every person desires to improve themselves, which is the main purpose of online courses.
While most courses are designed to enhance educational or career opportunities or to promote a major life change, you can easily design an online course for any hobby or interest. Do you have an interest in calligraphy or handmade beer? Or do you think you are a master of a particular video game?
Why not turn these interests into business opportunities?
You will be amazed by the number of people willing to pay to learn about their interests.
Not sure how to start designing your own online course? There's even an online course on how to start an online course! So you no longer have the slightest excuse to delay starting this business.
5- Freelance Marketing / Sales Application Services
2020's small business owners look to the future with optimism. They get more income, pay lower taxes and hire more people. Yet all of these activities mean that small business owners need much more marketing and sales services.
For most businesses, hiring freelancers is an excellent way to get the work they need while avoiding extra salary payments or a long-term commitment. If you have these skills that small business owners could demand, you have a highly profitable business opportunity. You can start by marketing your services through Bionluk, Upwork, Guru or other platforms that offer freelance business.
Check out if any of the jobs we list below are right for you:
Bookkeeping and Accounting
Accounting or bookkeeping business ie money management is the inevitable reality of being a business owner. However, for most entrepreneurs, this is the worst part of running a business. Whether you are a licensed chartered accountant or a QuickBooks wizard, keeping your fellow entrepreneurs' personal or small business finances in order will have a clean start on the road to starting your own business. With a net profit margin of 19.8%, bookkeeping, accounting, tax preparation and payroll services have long been among the most profitable businesses for entrepreneurs.
As an accountant, you can process invoices and payrolls, compile expense reports, and more. If you have a financial advisory license, you can help business owners write taxes, create balance sheets and other accounting documents, and provide professional advice on your client's net balance sheet.
If you've been in the business world for a long time, people will be eager to get a piece of your industry knowledge and expertise. So why not turn your expertise into a new career opportunity where you can start as an independent consultant? You can speak at industry conferences or events, advise a new business that has just entered the market, or leverage your expertise to shape an existing business strategy on a contractual basis. Whatever your talent, starting your own consulting firm is a great way to get your dream income while working by your own rules.
Creating a bright image for small businesses has become more important than ever as the number of brands competing fiercely in attracting consumers' attention has increased. Almost every small business will sooner or later need some graphic design work, regardless of whether or not they have the money to pay a large-scale advertising or marketing agency.
How much do you know using Photoshop, Illustrator and InDesign programs? If your answer is positive, you can turn your skills into a source of income as a freelance graphic designer. You will have almost no expense and you will be paid by the hour to handle this job that small business owners cannot do.
What are you waiting for? Jump right into creating great marketing graphics.
Social media management
The young generation was born and grew up in social media. This means that future customers will expect a business to maintain a strong presence on social media and be sensitive to social customer service.
However, while most small business owners know they need to be active on social media, few have the time or expertise to manage all of their social media accounts.
If you are actively using Twitter and Facebook or acquired your current business through LinkedIn, you should consider turning your social media expertise into a venture of your own, supporting business owners who need help with social media management.
Marketing Text Writing
Similarly, you can use this ability to write texts for various companies' marketing efforts, especially if you are well versed with words. The net worth of the content marketing industry is expected to reach $ 412 billion by 2021.
If you can create a catchy slogan or write a detailed description of a company's offerings, moreover, if you are doing this as an independent employee, we are confident that you will earn a substantial income for your services.
Virtual Assistant Services
At one time, every entrepreneur, manager, or leader had their own personal assistant. This has not changed over the years, each with the workload and full schedule to make an assistant useful even today (although not necessary), but many still do not want or cannot afford to pay for a full-time helping hand.
The virtual assistants used to fill this gap have become the most important common point of the sharing economy and freelance sales / marketing services. As a virtual assistant, you can select your customers and create a scheduling system that suits them by performing all the basic tasks to manage your customers 'e-mails, schedule their meetings, make travel reservations, that is, to make your customers' lives run smoothly.
A laptop and an internet connection will be enough to do this.
Things to Do Before Starting a New Job
Before deciding what type of business to start, you should know a little more about the steps you need to take.
Business start-up steps vary from entrepreneur to entrepreneur, but we can summarize the process in three easy steps.
Step 1: Find the Perfect Idea and Do Your Research.
Every business is born from a good idea. But to make this idea a reality, you have to do a good research and measure and weigh whether your idea will be successful. Before going any further, you should go through an opinion verification process, including market and competitor research and financial feasibility analysis.
Step 2: Get Organized and Formalize the Business.
When you are sure that you have a good idea to work with, it is time to create the logistics of the business with a well-formulated business plan. Once you're sure you've got everything written down, take the necessary steps to get it formal. This includes choosing a business structure, applying for licenses, and obtaining the business license and records you need to open the doors of your business.
Step 3: Find the Right Funding.
Every business needs capital to grow, and that doesn't change when it comes to venture companies. However, as the owner of a startup, you may soon find it difficult to qualify for traditional business loans. Therefore, we recommend that you finance your initial growth with a business credit card. It will be much easier to get a credit card than to get a loan. This will start your business loan story, earning points or awards as you spend.
Although industries such as healthcare technology, finance, and commodity manufacturing dominate almost the entire stock market and the economy, the same industries are not always the most profitable or accessible option for small business entrepreneurs.
If you too think you will have a hard time embarking on a large scale business, you should look into taking advantage of any of these profitable industries that are better suited to small businesses.