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Profitable Small Businesses To Start – With so many business ideas in 2023, it can be difficult to find one worth pursuing.
While jumping on a new trend can sometimes be risky – it can also be very rewarding. You’ll notice that many of the ideas on this list have been growing in popularity recently. Others have been popular for a long time, making them more competitive but less risky. However, all of the following small business ideas will help you make money.
Profitable Small Businesses To Start
If you are asking yourself what business to start, this list is for you. According to small business statistics, the biggest motivation for opening your own business is your own boss. Owning a business gives you the freedom to work when, where or how you want.
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Want to work on the beach or at your grandma’s house? Go ahead, no one will stop you or question you. It’s a dream life that many people hope to live one day, and the lifestyle is within your reach thanks to some great business ideas.
Do you want to sell products online but don’t have the money to buy and store inventory? Consider drop shipping! Drop shipping is an e-commerce business model in which you don’t need to handle any physical products.
All you have to do is set up an online store and partner with suppliers who are willing to store, package and ship orders to your customers. No need to spend hours on product research, because you can use dropshipping apps like Automizely to find amazing products to sell.
Check out this dropshipping course to learn more about selling inventory online without Shopify. If you’re looking for easy-to-follow online business ideas, drop shipping will be hard to beat. It is a very easy business to start if you have access to the right tools and resources.
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One of the main reasons people are often attracted to drop shipping is that you don’t have to carry inventory. However, if keeping inventory isn’t a problem (perhaps it’s just enough space in an extra closet), you can consider sourcing products in bulk.
Online marketplaces like Handshake enable small business owners to find unique, high-quality products and build long-term relationships with suppliers. Drop shipping is an addition worth checking out if you already know what you want to sell.
Print on Demand (POD) is when you sell your custom design items on phone cases, mugs and t-shirts, but you don’t actually print the artwork. Instead, you collaborate with suppliers who print your design onto the product—they also package and ship the item to your customer, so you don’t have to worry about logistics. Also, you only pay after the products are sold. No sales equals no spend.
One of the fastest ways to get started is to create a Shopify store and install a POD app like Printify. In terms of marketing, partnering with Instagram influencers to promote your POD products is an effective way to reach an audience. To determine if print on demand is the right option for you, watch our video where we get into a healthy discussion with Wholesale Ted (a print on demand company).
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Multilingual people are always in demand, so if you can speak two or more languages, consider starting a small business where you can monetize those skills.
You can get clients on Upwork and Flexjobs and slowly build your portfolio. As you work successfully with more and more companies, you can hire more translators who specialize in other languages to get things off your platform. Marketing your business on social media websites is also a good idea, as it can help you reach a wider audience.
Only have a few hours left in each day? Translating is one of the best side business ideas to pursue, as it allows you to schedule your clients based on when you are available to work.
Website flipping is one of the newest business ideas that has excited everyone from work-at-home parents to recent graduates. This involves buying an already-running website, improving its design and content, and then selling it for a profit.
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There are many places where you can buy and sell websites for profit. Shopify’s marketplace, Exchange, for example, allows you to buy e-commerce websites that you can further optimize through content marketing, SEO and other strategies. Once your site starts generating more revenue than when you got it, you can list it for sale on the marketplace.
If you have cooking skills and see it as a creative outlet, you can earn good income by opening a home-based catering business.
The initial investment depends on how big you want to make the setup. For example, if you start with small events that you can manage yourself, you will be able to start your business at a low cost.
Most home-based caterers start by creating a website, experimenting with local food markets, or joining a platform that allows foodies to earn some of their culinary skills.
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Keeping up with a furry friend, especially high-energy breeds with limited outdoor access, can be difficult. As a professional dog walker, you will help pet owners in the community keep their dogs happy, healthy and well-exercised.
Dog walking requires no initial investment other than marketing and business liability insurance. It will protect you in case of accidents, bites or unexpected cases. It’s a good idea to charge rates that reflect your insurance costs, with averages ranging from $30 to $60 per hour.
You can establish a presence for your dog walking business on multiple platforms, including Wag! , Rover, and Care.com. Offer promotions to new clients and build a positive reputation through reviews from those you’ve worked with in the past.
One of the most successful business ideas is to offer virtual assistant services. From large corporations to solopreneurs, everyone needs help with the day-to-day running of their business. You can use your best organizational skills to take some of the weight off their shoulders.
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Of course, you will be paid for the time and effort you put into answering emails, scheduling meetings, and performing other administrative duties.
You can land your first few clients by answering listings on platforms like FreeUp, PeoplePerHour, or virtual assistant jobs. This is a proven business model, as people are always looking for effective virtual assistants.
Do you often get compliments for your eye for fashion trends? Are you someone that friends and family come to for outfit advice? Personal shopping can be a business that builds on these skills.
Personal shoppers find clothing items for customers who don’t have time to shop for themselves. Duties include reviewing your client’s wardrobe, visiting websites and selecting items that suit them. Different online clothing boutiques have all kinds of products, so you don’t need to do offline shopping to start this business.
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Also, you don’t need to have any special certification or degree to become a personal shopper. If your interest lies in business ideas with low investment, personal shopping may be the ideal route to consider.
Contrary to popular belief, it is entirely possible to have a full-time business with car detailing. The average profit for a car detailer ranges from $50 to $400 per vehicle, meaning you can make a healthy profit if you can consistently get customers.
The key to success in the car detailing business is marketing. You will need to spread the word about your services through a website or social media platform and encourage regular reviews. Try offering discounts for new clients or package deals for those who commit to multiple sessions.
You need to start with cleaning equipment and driveways. You may consider getting certified by the IDA or taking a craft seminar to expand your skills.
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If you are good at art, math or any other subject, you can start an online tutoring business. A prerequisite is a bachelor’s degree in the subject you wish to teach.
You can find online tutoring clients on sites like Skooli and Tutor.com. For best results, always teach subjects related to your field, so that you can share your expertise and constructive knowledge to enhance the knowledge of your students. You can give lectures and interact with your students on Zoom, making online tutoring one of the easiest online businesses you can start.
Greeting cards are always in style, so if you have a great eye for design or just love to display your artwork on physical objects, this is one of the best creative business ideas for you.
Before you start looking for clients, you need a handful of designs ready to go. Tools like Photoshop and Canva make it easy to create custom card designs. Additionally, you will need to stock up on supplies that you need to make greeting cards (ink, paper, etc.).
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Pro tip: If you want to keep costs down, consider buying your supplies in bulk. Once you have inventory, you can start generating income by marketing your business
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