16 Most Profitable Industries for Small Business Owners to Start in 2017

Published on January 9, 2018 at 7:38 am by Insider Monkey Staff in Lists

If you are going to start a new business that is more profitable than your previous business, we guarantee you are going to get the best answers in our list of most profitable industries for small business owners to start in 2017.

Many of you are wondering about the most profitable business in the world or where you can get a reliable list of most profitable small businesses. Most of the profitable industries in the world provide services rather than produce products. That means if you want to find the low investment high profit business ideas, you probably don’t need a significant capital investment or a lot of investments in raw materials. This kind of business doesn’t require that, which is very good news for most of the new entrepreneurs who can’t afford a lot of money for a startup. Today, our article has you covered with a small profitable business ideas list. The internet is now full of low investment high profit business ideas. If you search on the internet for the business ideas, there will be a lot of answers confusing you as most of them are made just to confuse the reader. So, if you are actually a small business owner and want to do something more profitable; you should check our list.

Most Profitable Industries for Small Business Owners to Start in 2017

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Just thirty years ago, there was no Internet. Fast forward a few decades and now, most of the small business ideas are based exactly on the Internet. You can also easily search for your desired business ideas on the internet. Most of the websites on the internet will suggest many ideas you can do while staying at home. Now you are probably thinking, what are the most profitable businesses to start from home. Well, there is plenty of work you can do while you are at home. If you want to be a successful entrepreneur, you should not search for “top 10 most successful businesses to start” on the web. You can take any business to the highest level if you have enough knowledge and dedication. It is very clear that the future lies in small businesses and that they can be started from your home. Why don’t you check out our list of the 15 Most Profitable Small Businesses to Start in 2017 to get more small business ideas? There are many profitable business ideas from home on our website.

To make this list of most profitable industries for small business owners to start in 2017, we had to do quite a bit of digging. We looked into various websites and used their sources to make the list more reliable. We researched many sources such as Entrepreneur, Forbes, and US Small Business Administrations. Now let’s see how we have picked only 16 ideas from thousands. Our initial step was to check the Inc. for their listed most profitable small business industries since they ranked their list by their net profit margin. After all this, we came up with our list of the business ideas that will be very profitable for you.

Without further discussion, let’s check the list of most profitable industries for small business owners to start in 2017.

16. Medical and diagnostic laboratories

You’ll need some experience in the Healthcare sector if you want to open a medical and diagnostic laboratory. But first of all, you need permission to open it, and then you have to find the suitable location and professional staff. But before anything, you must decide what kind of laboratories you want to start, shouldn’t you?

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15. Furniture store

Everyone needs furniture to decorate their homes. People change and buy their furniture, not on a regular basis but the number of customers isn’t little also. You have to find a perfect location to establish the store then some good carpenters to make furniture or a place where you can buy it at a discounted price.

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14. Copywriter agency

Similarly, like writing articles in the home, starting a copy-writing agency is now an extremely profitable business nowadays. If you are a master at freelance writing, you can expand your business by hiring more article writers.

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13. Bike service

Bike commuting is increasing day by day. That’s why you can see more and more people are going to work on their bikes rather than driving. Bikes provide health and environmental benefits, which is why people are becoming more interested in riding a bike. Opening a bike repair shop can be a good small business opportunity for you with a very small capital.

12. Translation

All the big businesses are growing, and they are trying to move to every country to expand their business. That will help them to grow the global marketplace. You can offer online translation services if you are fluent in another language. You can also open an agency and hire some people who can help you.

11. Cleaning service

If you want to start a small cleaning business, you need some basic equipment such as a vacuum, floor cleaners, and a car. This can be the beginning of your large business and a very good way to earn extra cash. Many housekeepers can get at least $26 per hour.

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And now, let’s see the top ten most profitable industries for small business owners to start in 2017.

10. Warehouse and storage

Many big companies and farms need warehouse and storage to keep their materials. Some big companies have their own, but some get that space from an agency or from the direct owner. You can open up an agency where you will provide warehouse and storage facilities to those who need them.

9. Real estate agent

You don’t need much capital to become a real estate agent. On the other hand, you can earn a huge amount of money if you are successful. In the beginning, you might face some problems like financial problems and lack of communication. You’ll also have to build your client base and hope the market is good. But if you have dedication towards that business, one day you can also be a successful real estate agent.

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8. Software engineering agency

Software engineering and development are now a growing industry all across the world. If this continues like this, it will create a great opportunity for lots of people. You can open an agency with some talented software engineers and developers to provide services to various companies as well as work individually.

7. Offices of physicians

Next up on our list of most profitable industries for small business owners to start in 2017 are offices of physicians. You can open an office of physicians because they have to work somewhere and you’ll make money from the rent. It’s good to know the job growth in this industry is 1.9% and increasing.

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6. Specialized design services

People love anything that is specially designed. This business is very much appreciated, and it involve services from specialized tattoos to logos. Creativity and individuality are the new trends in the world. It can be a company’s logo or a tattoo; it really depends on you to decide what you wish to invest in.

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5. Schools and instruction

We are continuing our list of most profitable industries for small business owners to start in 2017 with online schools and courses that are growing worldwide day by day. Online courses, schools for children, and tutoring are also growing revenue. Opening a child care center in a small town is a very recognized and successful business idea too.

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4. Outpatient care centers

Ambulatory care or outpatient care centers provide treatments or care for patients who don’t need an overnight stay in a hospital or medical facility.

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3. Lessors of real estate

It is just a fancy name for a landlord. If you had a business earlier and now if you have some capital, you can spend that to buy a house or apartment, then you can rent it to other people. You will get your profit while still retaining the ownership of that place.

2. Offices of other health practitioners

Offices of other health practitioners’ rank 2nd on our list of most profitable industries for small business owners to start in 2017. They normally comprise all independent health practitioners except for physicians and dentists. That means the industry belongs to chiropractors, optometrists, mental health practitioners, physical, occupational and speech therapists, audiologists and podiatrists.

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1. Accounting, tax prep, bookkeeping, payroll services

One of the most profitable industries for small business owners to start in 2017 is definitely “Accounting, tax prep, bookkeeping, payroll services.” It is perfectly probable that you become a tax expert after a couple of online courses. Start-up costs wouldn’t be so high either when compared to all the facilities and licenses you need for setting up a dentist’s office, for example. Anyway, taxes are unavoidable, and the average person doesn’t know where to start with them, so they pay someone else to handle it.