
Business improves the quality of life in two ways. Firstly, it provides high-quality goods and services to the people required for their enjoyment, comfort, and health. Secondly, a business offers employment opportunities to the people by which they can generate income and improve their quality of life.
01. Auto repair
Taking a car to the shop for even simple repairs can be a challenge. After all, most of us use our cars to get from place to place, which means taking a car in for repairs often either involves a long wait at the repair shop, renting a vehicle for the day, or coordinating a ride with a friend or spouse. These options are both expensive and inconvenient. The good news is that while some repair jobs do require the equipment of an auto shop to complete, there are plenty of maintenance and repair services that need just a few simple tools to complete. If you’re skilled as a mechanic, you might consider a mobile auto repair service as one of the most profitable business ideas. You can offer oil changes, fluid refills, battery swaps, headlight repair, and more right in your customer’s driveway or office parking lot.
02. Personal trainers
Turning your love of fitness into a career doesn’t have to mean working for a big corporate gym—nor do you need the overhead of having your own location to train clients. Throw a few weights, bands, and yoga mats into the trunk of your car, and take your fitness show on the road, and more. You can become a personal trainer by offering one-on-one sessions in your client’s homes or advertising group classes at a local park or community center. Making fitness more available to your clients might just be the ticket to helping both of you achieve your goals. As Americans start to eat healthier and exercise more, fitness and wellness businesses are increasing in popularity and becoming some of the most profitable businesses as well.
03. Mobile apps and entertainment for children
On the other hand, if your interests lie closer to tech or entertainment, consider gearing your technology toward the youngest of consumers. Research shows that regardless of expert recommendations, demand for tablets, apps, and mobile entertainment for children is on the rise. Do you have an idea for an educational app for children or parents? If so, now’s the time to move forward on your bright idea for the next generation and make this potentially profitable business a reality.
04. Shared home improvement equipment
Are you the go-to guy or gal in your neighborhood for every lawn, garden, and home-repair tool under the sun? Why not turn those favors into a profitable business by advertising your available equipment beyond your immediate friend group? You might even decide to invest in more specific and higher-cost equipment that would be useful to those around you. And if a customer doesn’t know how to use a specific tool, combine your equipment rental with a mobile handyman service for even more cash in the bank. This could be a big opportunity as one of the most profitable business ideas as more people invest in fixer-upper houses and are in need of tools and advice.
05. Academics courses
Again, with the growth of technology, online business owners are making some of the most profitable businesses by offering courses through educational platforms or independently through their own websites. Therefore, you might start with traditional academics, offering supplemental online instruction in grade-level reading math, science, or history, or even standardized test preparation. You could even create a review course for parents helping teens with their algebra homework. If you’re creative, the possibilities are truly endless. And, academic courses don’t have to end at the high school or even college level. You can create an online course to share your love of political history, Buddhist theology, or rocket science. If you’re interested in a particular subject, chances are high that someone else is, too.
06. Business or marketing courses
The sad reality is that while liberal arts degrees might develop critical thinkers, many college graduates don’t come away with marketable skills that make them successful in business. Your ability to fill in those gaps with your own expertise could be one of the best small business ideas that you can start with the very little initial cost. What skills and lessons have you learned the hard way in your own business or career? Share your expertise with fellow entrepreneurs through a B2B-oriented online course. Popular course topics include bookkeeping, QuickBooks accounting software, WordPress web development, graphic design, how to develop a great client proposal, or even how to write a great cover letter or resume.
07. Social media management
Most millennials were born and raised on social media. As customers, they expect a business to have a strong social media presence and to be responsive in social customer service. However, although most fellow small business owners know that they need to engage in social media marketing, few have the necessary time or expertise to “do social media” well, let alone manage all of their social media accounts. If you’re fluent in Twitter, live your life on Facebook, and have gotten every job you’ve ever had through LinkedIn, you might consider turning your social media expertise into your own solopreneur business venture, offering support to business owners who need help managing their brand’s social media platforms. There’s no doubt that in this day and age, starting a social media consulting agency can easily become one of the most profitable small businesses.
08. Virtual assistant services
When the pre-Recession economy was at its peak, every entrepreneur, manager, or executive had a personal or executive assistant. Years later, many still have the workload and full schedules that make having an assistant useful, but many still can’t or don’t want to pay for a full-time helping hand. To fill the gap, virtual assistants have become the quintessential hybrid of freelance gigs and side hustles. As a virtual assistant, you can choose your clients and create your own schedule managing emails, scheduling meetings, booking travel, and completing other basic tasks to make your customers’ lives run more smoothly. All you need is a laptop and an internet connection to start this profitable business.
09. Consulting
If you’ve been in the business world for a long time, folks may be clamoring for your knowledge and expertise within your industry. Why not turn all that know-how into a new career as an independent consultant? You can be paid to speak at industry conferences or events, serve on a board of advisors for a fledgling business, or lend your expertise to shape the strategy of an existing business on a contract basis. Whatever your skillset, starting a consulting business is a great way to make the income of your dreams while working on your own terms.
10. Courses in other hobbies
While many courses are designed to further an education or career prospects or to promote major life changes, you can just as easily design an online course around any hobby or interest. Do you have a passion for calligraphy or craft brewing? Have you mastered a certain video game? You’d be surprised at the number of people willing to pay to learn about topics they’re interested in. Not sure how to start designing your own online course? Well, there are even online courses for business owners. You can use one of these courses to propel your own online course business or any of the other ideas on our list of the most profitable small businesses.