If you have finally decided to start your own business, but you are still searching for ideas, check out these 25 most profitable small businesses to start in 2017.
It seems like everyone is starting their own business lately and you decided to give it a go too. Small businesses became a trend that is spreading faster than ever. Usually, a small business is run by a small number of people, often several individuals or in some cases, just one (if you are starting a business from home for example). According to U.S. Small Business Administration, a small business is an independent business with fewer than 500 employees, and their statistics state that small businesses accounted for 63% of net new jobs.
So, it’s clear that the future lies in small businesses and everyone’s been talking about it. However, starting a small business is not a way to get rich overnight. In fact, it will probably take you years to start earning significant amounts of money. It takes dedication, patience as well as hard work to survive in the small business world. But it brings a more flexible lifestyle that you can manage according to your own preference.
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A great number of small businesses are home-based ones that you can start on your own with minimal investment and gradually turn it into something a little bit bigger. There really are countless profitable business ideas from home that you can consider if you think that it’s the time to quit your dull old 9 to 5 job and get on your feet. Speaking of home business, we wrote about most profitable businesses to start from home in 2016 so make sure to take a look at it.
The most important factors to consider when thinking about the best business to start to include projected industry growth and potential earnings. As most people, you are probably starting with little capital and looking for ways to earn without having to invest huge amounts of money. So, basically, you’re looking for low investment high profit business ideas that are likely to remain a trend in the following period. If you are a beginner without any experience in running a business, the key is to do a thorough research and check out dozens of lists of most profitable small businesses.
If you take the time to create a great business plan and really think things through, your small business may live to see the next 5, 10, 15 years or even longer. You should invest enough time to analyze the most profitable industries the next three years and try to find your place in one of them. You should also check out the article we wrote about most profitable small businesses to start in 2016, and to compare it with our today’s list, to see if there are any changes.
As for the list below, we compiled it after doing extensive research and using various sources such as The Balance, Multiple Streams and Entrepreneur‘s list from 2016 to make sure that suggestions on our list are proven successful over the years. We searched for the most profitable small businesses, and we ranked them according to the number of times they were mentioned. Those small businesses that were mentioned the most are on the top of the list. When the number of mentions was the same, they were listed according to their net profit margin. Also, we included data on the average pricing for some of the businesses on the list, as well as some success stories that will give you much-needed confidence is you are planning to embark on new ventures in the future.
So, check out our 25 most profitable small businesses to start in 2017.
25. Online Lessons
Having a talent that is highly-sought for today can become one of the most profitable small businesses to start in 2017. Whatever your area of expertise may be, you can give online lessons and courses and reach a wide audience. If you are passionate about it, sharing your knowledge with the world is the easiest way to earn money. These stories may inspire you to start sharing your knowledge with the world.
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24. Personal Training
If you are passionate about fitness, you can consider getting a certificate and becoming a personal trainer that ranks 24th in our list of most profitable small businesses to start in 2017. Getting into the world of fitness and wellness can bring you significant profit as long as you really know what you’re doing. Price of personal training service sold to the customer is about $50.
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23. Organic Beauty Products
The trend of all-natural and organic products is growing as people are more concerned about the ingredients used in beauty products more than ever. You can launch your own line of homemade beauty products such as soaps or beauty scrubs and start selling it online. Read this story for inspiration.
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22. Counseling and Therapy
There is a growing demand for mental health counselors. If you have the necessary degree and you are a professional in the field, you can start your own practice for family and marriage counseling.
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21. Body Decoration Services
The tattoo industry is extremely profitable, and it continues to grow. Currently, about 30% of young people have tattoos so why not become a tattoo artist? You can learn the art through an apprenticeship, but you need to be artistic to consider this option. This guy’s story can motivate you to do what it takes to succeed.
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20. Niche Pet Services
If you are looking for profitable small businesses ideas, then the pet industry is the answer. It is expected that the industry will continue to grow to create various opportunities for you. If you have the expertise, you can conduct workshops and courses about dog training, so whatever you know, you can digitalize, and earn money.
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19. Gluten-free Products
While there is a great number of those suffering from Celiac Disease who need gluten-free products, recently they became a trend as more people are switching to these products in attempts to maintain a healthier lifestyle. This creates many possibilities for small businesses such as opening specialized eateries that serve gluten-free food only, selling the products or even cashing in on your expertise in this area. Read this success story to inspire you to start your own gluten-free products business.
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18. Baking
Baking, especially baking cupcakes, can be a very profitable small business. While it can’t be a way to earn a fortune, it can certainly be a rewarding business. If you enjoy baking and decorating cupcakes, you can start selling them locally and create your own brand, just like this woman in the story.
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17. Pet Sitting
If you have searched for most profitable small businesses to start in 2017, you probably came across pet sitting as one of the suggestions. You don’t need special skills to start this business, and you can start it with minimal or no investment at all and later to expand your business to include more people. Take a look at some of the crucial factors for running a successful pet sitting business.
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16. SEO for Local Businesses
There’s been a lot of talk about SEO (Search Engine Optimization), and there’s is a lot of potential for earning money in this area. You can provide leads for local businesses by creating optimized websites that generate leads. This is a valuable skill nowadays so if you’ve got what it takes, why not cash in your knowledge? These success stories may inspire you to start your own SEO business.
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15. Freelance Writing/Copywriting Business
The job market has never offered more opportunities for talented, prolific writers than now. If you have a natural knack for writing, you can turn this talent into a business. By offering freelance services, you can enjoy a flexible lifestyle while earning money from your home. Read the 7 Secrets of Successful Freelance Writers to inspire you.
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14. Copywriter Agency
Similarly as the previous business idea, starting a copywriting agency is an extremely profitable business nowadays. If you master freelance writing, you can expand your business and turn it into an agency for copywriting services.
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13. Bike Service
Bike commuting is growing, and more and more people can be seen going to work on their bikes rather than driving. This is largely due to health and environmental benefits that bikes provide, but also more people want to stay in shape. Opening a bike repair and service shop can be a great business opportunity given the popularity of this transportation means.
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12. Translation
Up next in our list of most profitable small businesses to start in 2017 is translation services are in high demand as businesses are moving to other countries and looking for ways to enter the global marketplace, so the need for translators is growing. If you are fluent in another language, you can turn it into a business. Lanna Castellano describes a translator’s career in this way.
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11. Green Consulting
Businesses are hurrying to adopt green practices, and they need help in cutting energy costs and reducing carbon footprint. As this is quite new, companies need help to go green, and you can apply your knowledge and expertise and become a green consultant. You can charge per hour or have a fixed price contract, and you can learn more about your consulting fees here. Wondering which are the top 10 most successful businesses to start on our list? Click next to continue.
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10. Cleaning Services
To start a small cleaning business, you need basic equipment such as a vacuum, floor cleaners, and a car. This may be the beginning of a larger business, and it’s a great way to earn some extra cash. According to Housekeeper, on average, housekeeping services cost about $26.02 per hour.
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9. Children’s Services
Another profitable business idea on our list of most profitable small businesses to start in 2017 for those who enjoy working with children is providing all sorts of children’s services. From tutoring and preschool education to fitness sports training, opportunities are numerous. The price per service provided varies from one tutor to another, but it ranges from $12 to $20.
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8. Real Estate
You don’t need much to become a real estate agent, but you can earn a lot of money if you’re successful. Real estate is still a profitable idea and one that is likely to grow in the future. It definitely has the potential to become one of the most profitable business in the world. You need a license and good communication skills. A real estate agent earns approximately $36,000 per year.
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7. Software Engineering and Development
The demand for software developers is growing, and it is expected to continue this way in the next few years creating plenty of opportunities to cash in on your skills. You can become a self-employed contractor who enjoys a flexible schedule. Take a look at these tips by women who succeeded in software engineering business.
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6. Tax Preparation
To start your own small tax preparation business, you do need some experience first. However, there are plenty of opportunities to get this much-needed experience. According to The Balance, itemizing your deductions on your tax return will cost about $273.
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5. Accounting
Up next in our list of most profitable small businesses to start in 2017 is accounting is another profitable industry if you are thinking of starting a small business. As everyone need accountants, this is your chance to enter the industry and find repeat clients. According to Chron, entry-level accountants earned about $30 per hour in 2012. Today is somewhat better. So, do the math.
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4. Financial Advisor
We are continuing our list of most profitable small businesses to start in 2017 with finances that are expected to be in demand in the future, so here’s your chance. If you are a financial expert, you can start your own business and provide services as a financial advisor. This usually requires a bachelor’s degree and additional training. A financial advisor/planner earns between $1,800 to $2,400 per job done.
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3. Food Truck
At the number three spot on our list of most profitable small businesses to start in 2017 we have Food trucks that are becoming more popular as they do not only include the regular unhealthy fast food but a variety of other healthy choices as well. You can even include vegetarian meals in your menu. If you are passionate about food why not consider this profitable idea? At $10 per meal, you can potentially earn a nice amount of money.
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2. Home Health Care Services
According to our research, it turns out that elder care is one of the best ideas for a small business that tend to be very profitable. As people are now living longer than ever, this creates a whole new range of jobs and opportunities to grow a successful business. You can help older people who are no longer able to walk and do errands for them. According to Home Health Care Services, 8 hours per week of home health care services cost about $693.
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1. Social Media Consulting
One of the most profitable small businesses to start in 2017 is definitely social media consulting. Businesses often need help managing their Instagram, Pinterest, and other social networks and this is your chance to stand out from the crowd. If you’ve got experience in social media and know what to do to help businesses gain a greater number of audience, then this is your chance. Social media consulting can bring you a lot of money, and according to Socialbrite, fundraising or a social media marketing can cost $7,500 and up.
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