You’re an aspiring entrepreneur, and you’re looking to open a new business?
Or, you’re currently running a business, and you’re looking to determine how your business is doing in terms of profitability vis-a-vis other industries?
Both questions lead us down the same path … what are the most profitable small businesses to open in 2023. That’s the question, and that’s what we’re going to review in this article.
What we’re going to list are some business ideas that you can open for minimal investment. These businesses are all highly promising and potentially profitable, and the best part is, you don’t need to be the next tech superstar or coder to open. What we’re reviewing is profitable business ideas that you can open that don’t require years of educational experience. We’re going to review 27 in fact.
1- Blog about your City or Country
Yes, you can start a blog. In fact, blogs are easy to start and are potentially extremely lucrative. You can monetize a blog through affiliate marketing, ad revenue, link placements, sponsored posts, an so on.
Are you someone who likes to put everything in words? You can express the deepest of observations, even in words. It’s time you start writing about the place you live up close from different perspectives. Explore the hidden treasures of your city and let others also know about it through your blog. It’s time you start earning through your skill.
Related Readings:
6 Ways to Build a Successful Revenue Model for Your Travel Blog
How to Find & Develop Your Business Blog’s Unique Voice
2- Janitorial Services
There are numerous public places in any city, and as long as they exist, the janitorial services business will never run out of demand. It includes very little investment in equipment compared to other ideas and as far as customers are concerned, who does not want a neat and tidy place at reasonable rates. Lastly, your staff’s skills are directly proportional to the level of the place you will be working for.
3- Security Alarm Sale and Installation
Although new cars are manufactured with built-in auto-alarms, you can target dealers of used cars and form alliances with them. Not only cars, but you can also provide your security services to homes, offices, farms, schools, and many more. It all depends on the length you are willing to go. Lastly, you can even operate from the garage of your house when working on a smaller scale. Make the online business easily approachable to people.
4- Fresh from the farm
Establish a market that provides fresh supplies to the people. Even if the people don’t intend to buy anything, the vibrant colors and refreshing look will attract every passerby and send them back with at least a bag of cherries. Sell things fresh from your farm if you are into this or always contact other farmers. Add homemade jams, hummus, etc., as the sidelines.
Related Reading:
Organic Food Trading; Bringing a Healthy Food Option
5- Mini Sports Arena
You are someone who loves sports and staying in shape, wants to spread the vibes among others, this business idea is for you. A Sports arena of small size can have as many activities as you can invest in from a wide range of indoor sports like badminton, basketball, table tennis or air hockey, snooker, etc. You can also extend it to providing a gym facility as well. You will need some investment as well as some professionals to guide people. Something like this in a metropolitan area will attract a huge amount of customers.
6- Entertainment Center
After the tiring routine, everybody needs some entertainment. Setup a place near a residential area for the ease of people or in a metropolitan area. It can include a snack bar, with activities like bowling, snooker, arcade games, and many more. The more investment, the more appealing your place would be. Moreover, it is a one-time investment that keeps yielding a profit.
7- Architectural Firm
Cities are constantly developing and expanding outwards. The new construction needs new and innovative architectures, and the existing ones need renovations or makeovers. If you have experience in this field, then you are excellent to set up this business. It needs investment to set up, and your good to start`783. These kinds of businesses flourish with the word of people; the more publicity you have, the greater customers will approach you.
8- Home Tutor
An idea with no investment at all. If you are good at some subjects, it’s time you start earning from this. The very profitable idea for students trying to earn some money. Display your skills on social media or spread the word among people who may need very few dollars.
Related Reading:
5 Highly Profitable & Trending Education Business Ideas for Young Entrepreneurs
9- Tech Shop
In a region like Silicon Valley, a one-stop-tech-shop is a very potential business idea that an entrepreneur who is inclined towards technology should consider. It can have gadgets, accessories, mobile phones, and offer repair services. Set up in a busy area, and it will attract many customers per day.
Related Reading:
5 Important Considerations before Starting Computer Repair Business
10- Unique Jewelry Shop
There are shops which do sell common types of designs. If you have an aesthetic sense and a love for creativity, then you can try this idea. Bring forward different ornaments made from different techniques like 3D printing, threads, beads, marble, etc. You can even offer services for making customized jewelry, and people will love it.
Related Reading:
7 Tips to Market Your Jewelry Brand Effectively on Social Media
11- Malware Protection Services
Tons of data travels from one destination to another every minute, and in that, some malicious files stick with your data and may contaminate the whole stuff. To keep the system safe from such activities, proper protection is needed. Start a business that provides proper antivirus software and business security solutions according to the system’s requirements. This may include the installation of the software as well as the regular updating of the software.
12- Software House
Even if it’s an engineering firm, it would need some customized software to handle its employees’ accounts, projects, and work progress. Every office has its own requirements to make the work run smoothly. If you have the skills to cater to these requirements of people and provide them with customized software for their office as the solution, you will earn great profit through this. Requires little investment in the equipment. It can be operated from home on a small scale and may need a few more team members to produce a more effective product. It’s also a good idea to get local projects and outsource the development for better profits!
Related Reading:
Startups’ Guide to Software Development Outsourcing
13- Body Spa
Nothing is better than a warm and relaxing spa service after a tiring work routine. This business requires very little investment, and you are good to go. Even if you don’t have the skills, you can hire a professional or learn it yourself. The business will still yield enough money.
14- Call Center
Although this type of business is capital demanding, at the same time, it is highly profitable, especially if you know how to source for businesses from multinationals which are already in ample in an amount in any city.
Related Reading:
7 Tips for Call Centers to Reduce Employee Turnover
15- Web Designing
Another successful and lucrative info-tech related business that an entrepreneur can start is to offer web designing services. Statistics have it that there are well over 350 million active websites on the internet, and it is not enough to meet the demand of people visiting the internet. You can target people from different sectors and offer them your services.
It needs some skills and proper marketing to attract more people. Can be operated staying at home while outsourcing most of the tasks!
16- Virtual Tour Development Services
Providing a virtual tour to the people who visit the website is a great marketing tool. Providing this service to people earns a lot of cash. In fact, it has the potential of yielding almost $100,000 per year. You can target international hotels, educational institutions, and real estate brokers interested in showcasing their building online in the form of a virtual tour. All you need is some specialized software, a computer system and digital camcorder and definitely the skills.
17- 3D Cinematography
The cinema culture has been booming for several years. But 3D cinematography is becoming more popular and is quickly becoming the next big thing in the cinema industry. Establish a cinema showcasing the 3D movies in an area where there is none. In fact, you can also upgrade an existing cinema. People always appreciate a source of entertainment within walking distance, so you don’t need to worry about the customers.
18- Videography
If you understand the technology behind video production and enjoy the process of taking raw footage and producing a remarkable video, then a videography business may be a great small business idea for you. This business involves video services like editing, producing, adding special effects, digitizing, etc. You can operate from your home or can have an office if feasible. Collaborating with photographers and event planners can earn you more business.
Related Reading:
How to Start a Photography Business with No Money
19- Interior designers
If you have a knack for coordinating accessories and furnishings in a room or planning the spaces, then this is the field for you. Proper marketing will bring you more customers, and at the initial stages, you shall have the capacity to work on every kind of budget. You can target homes, cafes, restaurants, offices, and many more.
20- Affiliate Marketing Network
By the way, do you know the usefulness of affiliate marketing? It is a method that enables both publishers and advertisers to make money from visitors to a website.
Why should you use the affiliate marketing network? If we take the example of Google Adsense, the latter allows advertisers to go through their platform to serve ads, generally, they come from Google Ads.
As for publishers, they must implement a code to read Google Adsense on their site. The latter provides for advertisements to be displayed according to the locations of the site provided for this purpose.
Affiliate marketing works in different ways, there is another method in which the brand links directly to the publisher in order to offer an advertisement, this is what we often see in the good deals articles at several media.
Whichever model you use, the advertiser (or a platform such as lemonade) will pay you a commission based on the engagement rate the ad has had during a lap of time. You could make money easily and without getting your hands dirty.
Besides, Lemonade shares one and the same but, bringing advertisers big and small to the world through publishers. Hundreds of companies trust affiliate marketing platforms like Meetic, Revolut, Uber Eats, Nord VPN, Norton, or even WarGaming.
These businesses are very important to different industries, affiliate marketing allows you to target ads to the people who visit the publisher site. The platform then connects your site with that of different advertisers in order to dedicate several ads that will earn you money while allowing advertisers to gain customers.
This is a very popular way for publishers to sustain their site while using Google’s algorithm to boost the site’s natural referencing.
21- Business Plan Writing
Many start-up ideas have been aborted simply because of a lack of funds. To attract investors towards new startups, a proper business plan is required. You can provide your service by making those ideas have a more strategic and well-defined state in the form of a business plan. Of course, it will require some effort on your side to convince the small business owners of their needs for a business plan. Working as a facilitator can be a good way to pass your message to your target market. It is one of the stay-at-home ideas.
22- Researcher
Is the majority of your time spent online, why not cash it? There numerous people, clients, organizations who need someone to do the time-consuming research work for them. You need to have an eye for such people and should have the expertise to recognize the exact data your customer needs. Another stay-at-home business.
Related Reading:
What Do Research Papers Have to do With the Way You Market Your Products?
23- Refurbishment of Antique
Selling old stuff earns some extra cash, but stepping up refurbishing the item adds value to the product and earns you great profit. You can take it to the next level by buying old antiques, refurbishing them, and then selling them through an auction sale. You may need some equipment and assistance to get started. As a matter of fact, this business can be operated even from the yard of your house.
24- Therapist
We all have issues. For many people, those issues tend to be related to personal goals and problems, such as relationships, and for others, it’s their concern for the business. To release stress and have a more focused and determined life, consulting a therapist won’t harm. In any city, people who are so indulged in their business and work would definitely need a therapist’s services. If you have the qualifications in this area, then you’re good to go for this business. Not to mention, it requires no investment at all.
25- Food Delivery Services
No doubt there are cafes and restaurants in a large quantity, but many people also wish to have homemade and fresh food. If you are good at cooking and wish to earn, this business idea is for you. You can supply your food at affordable rates to people in offices and educational institutes. Definitely a very profitable idea.
26- Nail Spa
These ideas something new and requires very nominal investment. A good idea for ladies who are thinking of getting into the business. A nail spa can be a place where ladies can relax and have manicure and pedicure services. Something very reasonable that every other woman would love to try. Moreover, this kind of business earns more customers with word of mouth. The better your services, the more ladies entering your doors.
27- Research Analytics
If you live in a city, you’re probably operating in the midst of investment companies that rely on equity research. If you know how to read your way through a stock’s 10-K, you might be a great candidate for an investor research business owner! If you analyze well and know how to write, you can create analyses on certain stocks, or start making headway into covering the whole market.
The way that you sell the reports you make is easy—contact newer investment funds that don’t have the same budget as a Fortune 500. Reach out and offer your research, or even a subscription to your research outputs, for a fair price. The more subscribed clients you have, the better. The bonus is that you do not have to create new material for each client—just update the research every quarter for the companies and you’ll essentially have yourself an ongoing freelance business.
28- Housewares
In a city setting, chances are that most people working there live in apartments. Now, everyone who lives in their own space usually has this in common: we love to make it our own! So, how can you make money from this human truth? Well, a great place to start is creating housewares.
Once you decide to start a business crafting housewares, you’ll need to ask yourself a couple questions:
- What is the average income in my city?
- How creative should I be with my design?
- What should the quality be?
The first question is the most important, especially if you are planning to start with a physical store in the area. If the average income is on the higher side, you can price your products a bit higher and maybe up the quality. People with more money are also going to care more about the design of housewares. Who wants plates and cups that don’t match the rest of a manicured space?
If the average income is on the lower end, consider prioritizing functionality over all else when it comes to your products. Plastic is better than porcelain when your primary consumers are going to be looking for better deals. Sometimes, it’s all about what gets the job done rather than looks or feel.
Either way, housewares are some of the basic necessities of anyone in a city or living in their own space. Get out there and bust your way into the market with a bang!
The Bottom Line
The world has unlimited opportunities for the doers; all you need is to have that enthusiasm to build something of your own and find an idea that best complements your talents and aptitude.
