small business ideas 2017 which will be most profitable for you!

Net profit margin is the defining factor in the list of small business ideas for young entrepreneurs who just want to have a startup with minimum risk of loss. Net profit is the difference between gross profit and total expenses. You can maximize your net profit margin by reducing human efforts i.e. using automated systems in your industry. Automated machines are precise, time-saving, and efficient. We’re compiling a list of Small business ideas 2017 and here we go!

Anyone with little resources can start any of these businesses. These are the most profitable businesses because of the fact that they’re needed in our lives. Without these services, our lives would be affected. For example, we need foods for life. Now, Everybody knows that doing business in food would be easier and profitable if you have something special to offer. But the fact is entrepreneurs work on ideas that change the world. These small business ideas are almost free of risk.  According to Sagaworks, these are the top profitable businesses in the world. In Pakistan, we are going to talk at the end of top 10.

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1: Accounting, Tax preparation & Accounting firms business

Accounting business (small business ideas for 2017)
Image/ Accounting/Tax Preparation

In the list of most profitable small businesses, accounting has the first place! Is accounting the most boring profession to go into? No, it’s not. With 19 % net profit margin, accounting is the most profitable profession of all times. The subject is really interesting and practical. It deals with real life things.

Your startup’s success depends on your own skills and business plan. The way you start it really matters. Great entrepreneurs invest on ideas and they really don’t have time to manage things. So, they need the best accountant to help their business grow. If you open a small accounting firm, it’d be a great idea in the upcoming year of 2017.

Read this too: Great Social Entrepreneurs Care About These Things!

Details of Accounting Business Idea:

CompetitionType of industryExpensesNet Profit Margin
Very HighProfessional and Matured!HighTop! 19 % approx.

What type of people prefer accounting professions and accounting business firms? Following people are most likely to start their career in accountancy.

  • Those people who are well- organized and structured
  • Detail oriented and knowledgeable
  • Those who’re Accountable (And the like to be questioned)
  • Great Team Players
  • Creative people with ideas
  • Trustworthy and People with High Communication Skills.

2: Management & management companies

opening a management company is great idea
Image/Unsplash

Management of Companies and Enterprises is the second most profitable business in today’s’ world. People with high managerial skills are earning a lot of money. According to Sagaworks, their net profit margin is nearly 16%.

This industry is made of small privately owned business firms and estimates show that these companies are highly successful and risk-free. The only thing that really matters is the trust-based relationship with clients. If you’ve developed a strong trust flow and citation flow, you’re the best out there in the market!

Details of Management Business Idea:

This small table will let you know about the overall field of management.

CompetitionType of industryExpensesNet Profit Margin
Very HighProfessionalVery HighVery High

16 % approx.

Traits of People with high managerial skills.

  • High Creativity and Integrity
  • Well-organized and Quick Respondents
  • They’re Intelligent, knowledgeable and Competent
  • They’re Polite and committed to success.

3: Real estate, property management business

small business of property is beneficial
Image / Real estate/Property

Real estate business is always a profitable business because of the population growth and growing needs of people. Any field of life which is related to everyday life is profitable. Your business plan decides future of your startup. Real estate business is the 3rd top profitable business.

The best things about real estate business are that you have a cash flow, you pay fewer taxes, and the best thing is you can increase your advertising in order to beat your competitors! Real estate and property business just depend on your plan and their execution. You need to  know the 6 Advantages of Real Estate Investing

Details of Real estate Business:

This small table has all the compulsory data about Real estate business.

CompetitionType of industryExpensesNet Profit Margin
Very High / Strong

 

Professional and big!HighVery High

15 % approx.

Most effective traits of People who invest in property.

  • Very intelligent and Highly Experienced
  • Quick Respondents and talkative
  • knowledgeable and Knows Psychology, thus choices of people.
  • They’re Polite and really knows how to trap you!

4: Automotive equipment & Rental and Leasing

Automotive equipment leasing!
Image / Automotive Tech.

According to Sagaworks, this one of the top business that is profitable in 2017. You must be thinking about the ways they calculate things. Yes, it’s not that easy but it’s possible with the use of big data. You can use big data analytics to fine future trends!

Automotive equipment rental and leasing are very highly profitable in the US as well as in the Middle East. In the past few decades, the business has reached the top. In the past, this industry was not known much but in today’s advanced age, people prefer rental and leasing over having their own equipment.

Details of Automotive Equipment Rental and Leasing Business:

Let’s have a look at the table!

CompetitionType of industryExpensesNet Profit Margin
High

 

 ProfessionalVery HighHigh

14.5 % approx.

Kind of People who deal in automotive rental and leasing have the following qualities. These people will impress you!

  • Highly Experienced and Qualified
  • Very persuasive and best at dealings
  • knowledgeable and Knows Psychology, thus choices of people.
  • They know your weakness. (How? From Big Data)

5: legal services, Lawyers and legal aid services

Lawyers and legal aid services business is profitable
Image/ Legal aid /Services

Legal advisers, lawyers and firms related to this business are earning a lot of money. The crimes in the world are increasing in the last few years, the data analytics has shown a rapid increase in global and local issues in different regions. There is always demand of these kind of firms and people that is why they are highly paid services.

In the recent times, there has been a lot of conflicts and issues. The social media trends and big data analytics show that these issues will increase in the near future.

Yes, in the United States, Legal services such as lawyers and legal aid firms are going to be on the top if Donald Trump gets elected. We’re talking from business prospective. There would be a lot scope of for the lawyers and advocates in 2017!

Details of Legal Services Business:

These business firms are very much profitable but you need to have something different to attract people!

CompetitionType of BusinessExpensesNet Profit Margin
Very High

 

Professional and ArtisticHighVery High

14.45 % approx.

Traits of People who are lawyers and advocates.

  • Qualified lawyers and experienced guides.
  • Very persuasive and best at finding right way from the wrong one.
  • knowledgeable and Knows tricks! Beware J
  • They know that you need them! (Expensive? Yeah)

6: Dentist, Dental clinic and emergency dentist

Dentist business are profitable
Image /Dentists

Some Entrepreneurs say that,

Two types of types of businesses never fail, foods and medications!

Dentists are known as top earning people because of the fact that they have a very high-profit margin in this business. Dental Clinic as a small business idea is a great project work on. You need to make the business plan in such a way that it serves the humanity as well.

Details of Dental clinic Idea:

This project needs very little investment but the profit margin is very high! You can earn a lot of money in 2017 by starting a dental clinic and hiring a few doctors and staff!

CompetitionType of BusinessExpensesNet Profit Margin
 Very High

 

ProfessionalNot so highVery High 14 % approx.

What kind of staff and doctors to hire for you dental clinic? You should be looking for the following qualities.

  • Trustworthy and down to earth
  • People who believe in humanity and community services
  • Those People who are social and love people.
  • People who are kind heart.

7: Power Generation, wind energy & Power Transformation

Business of Power motors and generators is profitable
Image / Power transformation

Many countries in the world are facing electric power generation and supply issues. Your electrical power generation startup can earn you millions in a year.  All you have to do is carry out a good research on the countries with power crises and choose the location which is best for you.

Electrical power generation and power transfer industries are earning at the rate of 14 as net profit margin. Although there are some major expenses and investments involved but the cash flow is awesome!

Details of Power generation Idea:

This project needs great experienced engineers and experts. The major issue will be long distance power transfer.

CompetitionType of Business IndustryExpenses and InvestmentNet Profit Margin
Not so high.

 

Professional, Power!Very HighVery High

13 % approx.

You need great people for such a business firm with below qualities.

  • Highly experienced in the field of electrical power generation.
  • Problem solvers and research lovers
  • Hard-working and innovative
  • Team players for your this idea or any other small business idea!

8: Lessors of Real Estate (rent property business)

How to do business in rent property? It's profitable
Image/ house for rent

Real estate rental services dealers are earning a lot of money through just helping two parties to do business! They have to pay  fewer taxes. They have cash flow and a lot of other facilities.

Details of Real estate rental services:

This project needs no special skills. You just need to be hard-working and good at communications.

CompetitionType of Business IndustryExpenses and InvestmentNet Profit Margin
High

 

Professional businessLowHigh 13 % approx.

Required people for such a business firm would be people with great communication skills and socially very active.

9:  health practitioners, physician & chiropractor

small business ideas for physician. It's a great business ! small business ideas 2017
Image /physician/Flicker

As described earlier in the dentists section, these people are earning a lot of money!

Details of chiropractor’s business:

This project needs therapists. The details of the idea and project are following.

CompetitionType of Business IndustryExpenses and InvestmentNet Profit Margin
Very High

 

Professional businessLowVery High 13 % approx.

10: Heavy Machinery & Equipment Rental and Leasing

business ideas for 2017, Heavy Machinery would be a great business
Image /Heavy Machinery business

This one of the important top trending business these days. If you’re not using machines that you have in your company, why don’t you give it on rent? People who deal in such businesses are earning a lot of money according to Sagaworks reports.

Details of Heavy machines rental business:

This project needs a high level of hard-work and the owners should be extra careful. The business plan should be revised regularly.

CompetitionType of Business IndustryExpenses and InvestmentNet Profit Margin
High

 

Professional businessVery HighVery High 13 % approx.

These are the top ten small business ideas for 2017!

For more ideas see these: business ideas

The list for business Ideas in Pakistan will be added soon. Please keep visiting and subscribe.