Some businesses are more profitable than others by definition. This could be due to low expenses and overhead, or the company charging a high price for its services or products. Even so, no matter how profitable a business is, it can be difficult to get started.
Many of these most profitable businesses, but not all, fall under the category of online business ideas as a result of technological advancements. There are also ideas for childcare, B2B services, and entrepreneurs who want to take their businesses on the road. Here are the 20 Most Profitable Small Businesses Ideas you might want to consider.
Most Profitable Small Businesses
Take a look at the following 20 most profitable small businesses if you want to run a profitable business (don’t we all?).
Tax Preparation and Bookkeeping
The standard rate for good tax preparers and bookkeepers is a decent living wage. However, if you don’t like numbers, preparing people’s taxes and keeping track of their finances isn’t the business for you.
You don’t need a fancy location to start a catering business, and you could even run it from your own home to keep costs down. People and businesses are willing to pay a premium for quality caterers, making this a lucrative business for those who work hard and have a strong desire to succeed.
Quality and creative website designers are in high demand because websites have become the “windows” of every successful business. Again, low costs and high rates make web design a profitable business to run, assuming you have the necessary creative and technical skills.
Businesses are willing to invest in qualified business consultants who can assist them in achieving their objectives. They’re also willing to pay a lot for good advice, which, when combined with low overhead, makes business consulting a profitable venture. Effective business consultants, of course, require a high level of business acumen and knowledge, so this isn’t the right opportunity for everyone.
Self-employed couriers don’t have a lot of expenses aside from the vehicle they use to deliver the goods. Obtaining lucrative contracts from major courier companies can be lucrative. In a competitive market, however, winning lucrative contracts can be difficult.
Mobile Hairdresser Services
Granted, you can’t charge a fortune to cut someone’s hair, but that doesn’t change the fact that good hairdressers are always in demand. Furthermore, aside from a good pair of scissors and some hair dye, your business expenses for running a mobile hairdressing salon are surprisingly low, making mobile hairdressing a profitable business to run.
However, because mobile hairdressers are plentiful, you’ll almost certainly need to invest some money in marketing your services.
A vacuum cleaner, polish floor cleaner, and, preferably, a car are all you need to start your own cleaning business. Cleaning can be a rewarding business to start because it has low overhead, requires little training, and provides a service that is always in demand. So, why aren’t more people doing this? Cleaning, on the other hand, might not be the best option if you’re looking for a more creative way to make a living.
You could be a math whiz, a native Spanish speaker, or a skilled guitarist. Tutoring online, whatever your skillset, can be a great way to supplement your income while maintaining a low cost of living. The only disadvantage of online tutoring is… You must possess a skill that others want to learn!
Real Estate Brokering
The profits associated with real estate remain high, and one of the most cost-effective ways to enter this industry is to open a real estate brokerage firm.
Real estate brokers act as a middleman between sellers and buyers, and all you need is a brokerage license to get started. Given the large number of real estate brokers, however, finding your own clients can be difficult.
Do you have a knack for creating memorable logos? If that’s the case, you could be on your way to starting a business where you can charge a good price without having to spend a lot of money on overhead. However, keep in mind that logo design is a competitive field, and you’ll need to come up with some unique and inspiring logos to stay on top of your game.
Do you have an extra garage or building that isn’t being used? If that’s the case, you might want to consider providing warehouse storage services. Providing a storage facility for businesses and individuals can be a highly profitable and largely passive source of income. It must be said, however, that the job isn’t exactly stimulating, and thus isn’t for everyone!
People who are willing to clean gutters, repair chimneys, or pull stubborn weeds will always be in demand. Property maintenance may not pay the highest hourly rate, but with low overhead and high demand, it can be a profitable business to start — as long as you don’t mind getting your hands dirty!
Businesses and organizations will always want a good marketing team on their side to help them raise brand awareness and get results. Marketing agencies can charge a lot of money for their services, but thanks to advances in remote technology and the internet, marketing efforts can now be done remotely, lowering overhead and increasing profits.
However, it must be stated that marketing agencies are extremely competitive, and in order to be successful, you must demonstrate your ability to deliver results.
Personal trainers will always be in demand from those who want to get fitter, slimmer, and healthier (PTs). Earning a personal training certification isn’t too expensive, and once you’ve completed it, you can start offering your services. Personal training is a profitable and sought-after business because its overhead is naturally low.
It can be difficult to get a car to the shop for even minor repairs. After all, most of us rely on our cars to get around, so getting a car repaired often necessitates a long wait at the shop, renting a vehicle for the day, or coordinating a ride with a friend or spouse. These alternatives are both costly and inconvenient.
The good news is that, while some repair jobs do necessitate the use of auto shop equipment, many maintenance and repair services can be completed with just a few simple tools. If you’re a skilled mechanic, one of the most profitable business ideas is to start a mobile auto repair service.
The food truck movement is slated to keep growing and growing. As rent in major cities across the country increases, it’s becoming more difficult for up-and-coming specialty food artisans to finance a brick-and-mortar location in the bustling centers of town—where their customers are most likely to be.
Food trucks provide a great solution. You can start a food truck by hitting the road and parking yourself at local events, farmers markets, the local town square—wherever you’re likely to draw a crowd. The lower overhead and increased geographic versatility of a food truck mean you can turn your grandma’s famous dumpling recipe or that off-the-wall dessert idea into its own thriving business.
Keep in mind that bigger, trendier cities like San Francisco, Portland, and Boston already have a pretty saturated food truck market—so this might be a more successful business in a smaller heartland metropolis. Food trucks also tend to have their own special set of ordinances, business licenses, and safety compliance standards, plus, require food business insurance, so contact your local health department to find out what will be required.
Car wash services
Mobile car wash services are next on our list of the most profitable businesses. Many people would be willing to pay a premium for a mobile car wash that came to them rather than having to drive across town to get to a car wash. This is especially true for those who own high-end vehicles and want more personalized service. You would not only benefit from the unique value proposition of being mobile as a mobile car wash and auto detailing service, but you would also avoid the significant overhead and startup cost of having a physical location.
Do you want to start your own mobile car wash service but don’t know where to begin? Auto detailing startup kits, as well as training, are available from a variety of online wholesalers for those interested in starting their own business in this niche industry. You can also learn more about how to start a car wash.
It would be an understatement to say that Americans are obsessed with electronics these days. People spend the majority of their waking hours staring at a screen. Because of this widespread tech addiction, people expect help as soon as possible when something goes wrong.
As a result, mobile electronic repair services are in high demand and could easily be one of the most lucrative small businesses. You could be the answer to every broken iPhone screen, WiFi card, and laptop battery with this service. Plus, if you’re willing to travel to your customer, you’ll be even more successful.
Having said that, while a mobile electronics repair business does have some overhead in the form of purchasing supplies, it avoids the high overhead costs of a physical location, making it an even more profitable service business idea.
Although two-thirds of Americans believe they are tech-savvy, the reality is that they frequently require assistance. Some people even make their computers or other devices vulnerable to identity theft and hackers. Unfortunately, when things go wrong, manufacturers’ free customer phone support is frequently unhelpful or fails to solve the problem.
If technology comes easily to you—and you’re patient—then the most profitable business for you might be going on the road with mobile IT support, at least in your neighborhood. This low-overhead business model is almost pure profit because all you need is time, transportation, and your own know-how.