Many small businesses fail to get off the ground and turn a profit. In fact, only around 40% of them ever do. The rest break even or go broke.
But that’s not the whole picture, and profitable small businesses aren’t a minefield of complexity, admin, and startup capital – and they’re not doomed to fail.
And the best part is that you don’t need much to get started.
#1: Dropshipping
Starting a small business is easier than ever with dropshipping.
Dropshipping is an eCommerce business where your customers place orders and you have another company fulfill the order. The best part is that you don’t even need stock or storage space to get started. You don’t even need an office.
All you need is a platform to reach your customer base.
In other words, your startup costs are next to nothing – and your running costs are only as high as your staff and your online presence require. All you need to do is drive traffic to your eCommerce site and get conversions.
#2: Marketing Services
If you’re wondering how to make a profit with a small business and you’re good with search engine optimization (SEO), content marketing, or web design, you’ve already got a winning business venture in the palm of your hand.
Marketing services are crucial in the competitive online economy. Professionals specializing in small business lead generation are always in demand.
#3: Cleaning Services
In the wake and aftermath of the pandemic climate, professional, deep cleaning services have gone through a renaissance.
Health and safety regulations are stricter than ever, every town hosts streets packed with shops, hotels, and hospitality businesses that require regular deep cleaning services.
And a lot of them aren’t very good at it, either. Small businesses are always strapped for time and many are happy to outsource cleaning.
You can quickly build up a roster of repeat clients with professional and reliable (and friendly!) service.
#4: Mobile Businesses
No, it’s not business that’s centered around your cellphone.
Mobile businesses are ventures that focus on two key aspects: flexibility and mobility. The core appeal is that your business can be delivered anywhere. This isn’t a new concept – a plumber can’t fix your toilet remotely and an electrician isn’t going to rewire your TV from the home office.
Even so, mobile businesses have gained in popularity in recent years. More people services than ever before are being delivered, and customers will welcome you with open arms if you can travel to them.
#5: Design Agencies
Are you still stuck for small business ideas?
If you’re good with graphic design, consider setting up your own design agency. The great part is that services are always in high demand and local clients aren’t hard to find.
All you need to do is browse the websites of local businesses – or take a walk through the high street – to find out who is in dire need of an aesthetic overhaul.
Profitable Small Businesses Aren’t Rocket Science
The ventured we’ve outlined here are all fruitful. Yet, taking the leap and jumping into the deep end is intimidating.
But the truth is that ideas for profitable small businesses aren’t hard to come by. All you need is a little guile, a lot of motivation, and the confidence to get started.
If you found our article insightful, consider others in our small business category.
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