Did you know that there are over 30 million small businesses active in the USA right now?
Whilst that might seem like a crowded space, with the booming economy, there is actually room for more.
If you are looking for a career change, or need to find a way to make some extra cash, what are the best options for you? How can you cash in on your talents and experience by starting a business?
Check out our list of most profitable small businesses and see which one appeals to you.
1. Accounting and Bookkeeping
At first glance, you might think that accounting is the domain of the well-establish company. However, freelance accounting may be easier to get into than you realize. Thanks to the development and popularity of accounting software, even those who do not love maths may be able to enter the industry.
If you have ever worked in the accounts or bookkeeping department, you may now have valuable experience that you can use or build upon to start an independent business. Many companies are looking for invoices and payroll, expense report services.
If you have a CPA (certified public accountant) license, then you will be able to go further. You may be able to file taxes and even offer consultation services.
Every company has accounting needs. Many small companies do not handle this inhouse. They delegate it to an often small outside company. For those who have accountancy experience and can market them correctly, there will be no shortage of lucrative work.
2. Open a Restaurant
Do you love food and the look of delight on people’s faces as they taste your food? In this case, you may have what it takes to be able to open a restaurant. This is especially true if your family is from a country with famously tasty food and you have learned to make some of it.
If you are overwhelmed by the thought of actually managing a restaurant, do no be afraid. there is software available to help. We have found the best restaurant management software can manage everything from inventories to schedules.
This takes the burden of managing a restaurant away from you so that you can focus on making delicious food.
3. Online Marketing
Do you want to be free to work from any location? Are you handy with a computer and interested in learning some new basic skills? Online marketing may be for you.
It is the goal of every company with an online presence to make its site high ranking in Google terms. Page one if possible. However, few have the skills to be able to do this.
As a marketing expert, you will learn SEO principles, generate ad campaigns, inbound marketing campaigns and many more valuable skills. These skills have longevity and are needed by almost every company.
If you can get some success in raising the profile of your customer’s sites, you will be busy for a long time to come.
4. Social Media Manager
Some people love social media and spend most of their time on it. Other people get paid for doing the same thing. Enter the world of social media management. You will be responsible for the companies online presence and thus it’s reputation.
Companies need quality content more than ever. In today’s world search engine algorithms and human beings are able to spot fluff and poor content easily. Companies are more than happy to outsource this as they look to focus on product and service development.
Keep up to date with developments on Facebook, Instagram, etc. and soon you will be able to offer a valuable service.
5. Business Plan Creation
Have you been able to start and keep a successful business running? Many entrepreneurs would literally pay to learn from your experience. Rather than taking the consultation route, can you set up a business plan creation business?
Business consultancy and plan creation are not dead by any means. With just a few basic steps you may be able to document the steps a business needs to take. This is all based on your own experience and business acumen. If you are able to think logically and write clearly this may be for you.
6. Tax Consultation
Tax and tax management can be one of the most complex and frightening parts of running a business. Companies tend to play safe and hire professional help. However, equally, no one wants to pay more tax than they have to.
If you are CPA licenses or have relevant experience you may ve able to help companies legally reduce to a minimum their tax responsibilities. Many businesses will need this as a year-round service rather than a one-off service for individual tax payments.
Tax consultation is a much needed, in-demand service. If you can find the contacts and market your skills sufficiently, you will have a job for life.
7. IT Management
More and more companies are looking to avoid hiring in-house staff for an IT department on a full-time basis. Remote workers and IT consultants are filling this breach.
If you have an IT background you may be able to start this business from your own house. Many are highly paid consultants who care for the installation, management, troubleshooting, and updating of new software and hardware.
The also give consultation services to companies who are looking to expand their operations and need to plan their IT needs accordingly. This job is extremely flexible and since an office or workplace is not necessary comes with low overheads.
8. Public Relations
Every business, especially a new business, is only as successful as its reputation. This means that PR (Public Relations) management is a hot market. If you have particular business experience, the ability to communicate clearly and an extensive network you may already have a foothold in the market.
PR work basically involves the preparation of press releases, making business contacts, arranging marketing events and managing relationships.
Start with what you already have – friends and contacts in the business space you are in. And then grow your field to meet your ambitions and the ambitions of the companies you are supporting.
9. Professional Organization
“Professional Organization” has become extremely cool in recent years thanks to the popularity of home organizers such as Marie Kondo.
If you need to have a place for everything and love to put everything in its place, this job is for you. This is on a small scale in offices and houses, or eventually on a large scale with businesses developing strategies.
Start by ensuring that your greatest advertisement, your home and business areas, should be meticulously arranged. Next, market, market, market. Build a reputation for organization and space management that others can benefit from.
10. Real Estate Business
Do you have experience in buying a house or houses? Perhaps you know just what a person wants and needs in a new property? In this case, the Real Estate industry may be for you. Starting a real estate agency is very feasible for those with experience.
Start by offering search services to private citizens or small businesses that need a new location. When your reputation is solid, expand and use these references to build a Real Estate business that holds a reputation for quick and satisfying sales.
The Real Estate industry is heavily dependant on a good reputation. Build this and you will have a job for life.
Becoming a professional photographer is a dream for many who do it as a hobby. However, accomplishing this is easier than you may think.
Every week there are weddings, birthdays, religious events, corporate events, babies born. Often these events are documented by photographers.
Invest in a camera that is suitable for your field, and practice your trade, for free initially if necessary. Next leverage your portfolio to get in on professional events.
This is a great job for those who are looking for a side-hustle. The work is often weekend and evening work. You can take on as much work as you want.
12. Event Planning
Moving from planning a children’s party to planning corporate parties may seem like a large jump, however, there is a process you can follow to learn how.
Are you particularly proud of your recent wedding? Did you host an anniversary party for your friends? Will you be doing so soon?
Ensure that you have a photographer document the event well and you will be able to add it to your portfolio (with the permission of your friends of course)
If you have the confidence to entertain large numbers this job may be for you. Invest your time and energy into one party and let word of mouth do your advertising for you.
13. Event Hosting
Like the thought of planning events, but don’t have a location to do it? Why not make connections with local venues? You may be able to become their in-house event planner.
They will benefit as you will likely bring in extra custom thanks to your fantastic reputation. You will benefit as you have a location to host parties and can add them to your professional online portfolio.
Following the examples od influencers everywhere, post your successful party picture online everywhere you can. Post compliments given by guests and reviews from your customers. Soon people will be flocking to have you arrange their next gathering.
14. Interior Design and Decorating
Some have it, some don’t. If you have an eye for fashion and know what looks good in 2019/20, Interior design and decor may be for you.
First, build your personal portfolio, decorate your house beautifully. Next, take this portfolio to business and potential customers and wow them with your ability. They will no doubt especially be impressed with your commitment to making spaces look aesthetically pleasing.
Consult for an hourly fee, or offer fee on a project basis, as you convert drab spaces into masterpieces.
15. Furniture Construction
Did you take carpentry shop at school? Maybe you even went on to take an apprenticeship at trade school? If so you can cash in on your talents by starting a carpentry business.
If you don’t have experience, certification, and skills, you can still start a furniture building business. How? By learning to read instructions well and offering a service building Ikea style flat-pack furniture.
People either love or hate flat-pack furniture, cash in on it by becoming an expert.
16. Graphic Designer
If you are a budding artist you may be able to market your skills as a graphic designer. Even if you are not particularly talented in the art world, you can still learn to use the tools well by taking a simple online course.
Learn the basic programs, Adobe, Sketch, and Canva – some of which are free. Next, get your portfolio out there. Design websites, company logos, catalogs anything that you can design.
Companies every need this skill and often update their company material regularly. This means that a designer with a good reputation will have plenty of work for years to come.
The List of Most Profitable Small Businesses Goes On and On
If you have been inspired by our list of most profitable small businesses, then we have done our job. There are so many opportunities out there for those with the entrepreneurial spirit to benefit from. Why not get out there and start making money!
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