If you’re willing to put in the hard work and have a real passion for helping others get fit, personal training could be your ticket to starting a profitable small business.
Personal trainers can earn around $50 per hour and, depending on where they choose to do their sessions (home or gym), may require little overhead. The only downside to becoming a personal trainer is that it requires you to be passionate about exercise and fitness!
Online Coffee Shop
The online coffee industry is booming and with a little start-up capital, you could set up your own online coffee shop that sells high-quality, freshly roasted beans. Also, shoppers consider the coffee they get from a small business to be better quality than what they get at a larger company.
While the initial investment does require some capital, once you are up and running, your expenses will remain low since you don’t have to pay for an expensive storefront or office space.
Plus, with so many people looking for an online coffee shop these days, it won’t be long before your business starts to boom.
As food sustainability becomes more of an issue, aquaponic farming has become all the rage. In a nutshell, in order to produce organic fruits and vegetables without using chemicals or pesticides, farmers use fish waste as fertilizer for plants, which then filter the water for the fish.
Aquaponic farming is still in its infancy, so there’s a lot of room for growth and those who enter this industry now could be at the forefront of this new trend.
With aquaponics farms requiring little space to operate, it’s a great option for those who want to start their own small business.
Thanks to the internet, freelance writing has become a viable career option for many people. If you’re a talented writer with a knack for SEO and know how to market yourself, freelancing can be an extremely profitable way to make money from home.
And the great thing about freelance writing is that you can work on a variety of projects simultaneously, giving you the freedom to make your own hours.
Businesses and organizations will always want a quality marketing team behind them to boost brand awareness and bring them results.
Marketing agencies can charge a lot for their services and thanks to advancing remote technology and the internet, marketing efforts can be done remotely, keeping startup costs low and profits high.
Still, it must be said, marketing agencies are highly competitive and in order to be a success, you’ll have to show you can deliver results.
Those who want to be fitter, slimmer and healthier, insure there will always be demand for personal trainers (PTs). Earning a qualification in personal training is not overly expensive and once you’re professionally qualified, you can offer your PT services.
Startup costs and overhead is inherently low in this industry, making personal training a profitable and sought-after business.
One of the biggest challenges PTs face is building up a network of clients in a competitive environment.
Non-profit small businesses don’t make you rich. In fact, they exist not to make money, but to benefit others.
Still, there is other wealth besides cold hard cash, and the right non-profit organization can give you a sense of satisfaction and fulfillment that can be priceless. If you’ve got a green thumb, tree plantation could be the side business for you.
Tree planting is an industry in extremely high demand, and it is probably one of the sanest non-profit small business ideas nowadays. It comes with low overhead costs, as you don’t have to purchase or maintain expensive equipment. Oh, and you pay the world with more oxygen to boot. Other small business non-profit ideas include animal shelters, food banks, and non-alcoholic clubs.
Providing quality food and drink will always be in high demand, though with expensive overhead, running a restaurant isn’t always as profitable as you might think. Serving food from a food truck, on the other hand, requires much lower overhead and can be one of the most profitable small businesses you can get into. The downside is you have to work out of a van day in, day out slinging hash, which isn’t everyone’s idea of a rewarding business.
Quality legal advice and support come at a price and therefore those with legal knowledge can earn a tidy sum for their expertise, making it one of the most profitable small businesses on this list. That being said, becoming qualified to provide legal advice takes time and money and the amount of training and education required to be able to offer legal services can put many people off.
Got a van and some spare time? Well, you’ve got your business already mapped out! With virtually no expenses other than keeping your van roadworthy, helping people move and deliver items in your van can be an effective way to earn an income.
The downside? There’s a lot of competition, so make sure your delivery services stand out.
Another profitable business idea is gardening. In addition, people love their gardens and so decent gardeners will always be in demand. The skill of growing plants is healthy and fulfilling work, but it requires an element of creativity to launch and maintain a successful business.
Although gardeners require several tools for their trade, overhead is comparatively low, making gardening a profitable business. Though again, to ensure you get the work, you may have to spend some money on advertising your services.
Whichever profitable business you decide to pursue, make sure that it’s a business idea that you believe can solve a specific problem.
What Do I Need to Start My Own Business?
After what are the most profitable businesses? this is a question that plagues many would-be entrepreneurs. The answer, unfortunately, is not a simple one as it depends on the type of business you want to start.
Generally speaking, you’ll need some money to get started (though there are always exceptions). You’ll also need to have an idea of what it is you’re hoping to achieve. With the right amount of strategic training and passion, having a profitable small business is possible.
What are the Most Profitable Small Businesses?
So what are the most profitable small businesses? Actually, there is no one-size-fits-all answer to this question, as the most profitable small businesses vary depending on the industry.
However, a few profitable businesses on this list make the cut for bettering your bottom line significantly, including property management, personal training, food trucking and legal services.
So there you have it! These are just some of the most profitable small business ventures that can be started with little overhead and without having to break the bank. If any of these businesses appeal to you, don’t wait around! Get out there and start building your empire today.
Related reading: 51 Business Ideas for 2020