20 of the Most Profitable Small Businesses in 2023

Check out our in-depth article to starting a small business here. All of these areas can then be applied to almost any industry. Depending on your interests and experiences, you might be a better fit for one of these than the others. COVID-19 lockdown measures The Ultimate Guide To Bookkeeping for Independent Contractors and the economic recession have forced many small businesses to close their doors and move their operations online. For example, you can use the Shopify platform to create an ecommerce website in minutes – sign up for the free trial to get started.

Walmart’s story shows that slow growth is completely normal—even successful companies take a long time to get things right. If you do choose to hang in there, success in year three is definitely fine-tuning all areas of your business, according to Inc.. Convert one of the rooms in your home into a yoga studio and you’re ready to offer yoga classes. I have also seen yoga entrepreneurs rent space or even use a room in a client’s house in exchange for a discounted price for the class. So there are several options for starting this business with little money.

Online Business Courses

Depending on the area you want to specialize in, you might be able to get started right out of high school and work your way up to higher rates. And online courses and certifications can seriously help to improve your credibility. Delivering to residential and commercial properties is an often overlooked business opportunity. And if you partner up with small businesses to be their go-to courier, you should have no problem finding — and keeping — work. A degree in computer science isn’t strictly required to work in IT, and there’s no shortage of resources out there for anyone wanting to grow their skills in this field.

• For example, you can start a service business such as a web design agency or private tutoring service.
• The average cost of movers is $25 to $50 per mover per hour for local moves, of which 20% is the profit margin.
• Tourism and travel are at an all-time high in the current context.
• Home baking is an approachable business idea in that it involves doing what you’re probably doing a lot of, anyway, if you love to bake.
• Also known as affiliate marketing or writing, affiliate blogging makes money by promoting products in articles.

It’s all about experimenting with the ideas, if fail then try again and repeat. You can host it on platforms such as Udemy or Skillshare, which give the course large exposure without advertising costs. You can start a blog for free, but a domain and branded website will help you stand out. You may also want to spend money on SEO tools such as Ahrefs to find other keywords you can target.

Home Businesses You Can Start Today

Whether your background is in HR, finance, marketing, or operations, you can put your expertise to use by opening a consulting firm. It should be no surprise that tech is one of the fastest-growing industries. The world of self-employment can be challenging, but with a little hard work and know-how, you can work towards building your own business. The pursuit of perfection can be one of the biggest hurdles in getting a business up and running. As of October 2022, there were over 4.74 billion active social media users around the world. Between YouTube, Instagram, Facebook Messenger, TikTok, and all the other social networks available⁠—brands need help managing their accounts.

It’s a big decision for someone to hire a catering firm so make sure that your website gives a potential customer all the information that they need to be comfortable hiring you. I would further try to ramp up word of mouth by building an email list and using social media. Catering https://accounting-services.net/small-business-bookkeeping-basics/ is a low overhead way to create a food business without all of the hassles and costs of a restaurant. It’s a lot of work but it can be very lucrative and fulfilling. To get started with minimal investment, you could first cook in your customers’ homes and use their dishes.