5 Most Successful Small Business Ideas

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1. Pet Care Services  

Insider Monkey Score: 4

Industry Net Margin: 4.32%

Pet Care services were ranked among the most successful small business ideas. Pet care services include pet supplies, pet grooming, and pet sales. According to a report by Grandview Research, the global pet services market was valued at $24.92 billion in 2022. The pet service industry is expected to grow to $50.1 billion by 2030 at a compound annual growth rate (CAGR) of 9.1%. The pet care services industry falls under the business and consumer services market. The industry reported a net margin of 4.32% as of January 5, across 961 companies. 

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