Quick one, do you know that there are a few businesses you can start up before 2023 ends and still stand on the verge of making great returns? Entrepreneurship comes with multiple commitments and responsibilities, including choosing the right business idea that works for you. To help you check that one off your list, we have compiled over 31 best small profitable business ideas you can start before the end of the year. As a bonus, you will also have access to our collection of the best small profitable business ideas you can start from home. Â
Best Small Profitable Business Ideas
While looking out for a business to venture into, do not just consider a small business, also analyse the profitability of that business. With the many ideas in the world, it will be tough to settle for one business. But with the help of this comprehensive list, we have carefully selected, constructed and explained the best small profitable business ideas you can settle for.
#1. E-commerce
This small business idea allows you to purchase a variety of products that are in your online store and then take orders from interested customers that want to buy a product. This is the same as a physical store but then comes with more advantages because you would not have to pay rent, property tax, or spend on renovations. This is a good business idea to consider because who wants to stress about coming to the market when you can order a stress-free product online?
#2. Bookkeeping
Bookkeeping is one of the small, profitable business ideas you should invest in if you love budgeting and finance and know how to effectively handle tasks under it. Many businesses find it hard to keep records and track of their finances, but with you, it will get easier.
#3. Data Entry
Data entry is also a small business you can handle on your own, all you need to do is to research data entry jobs online and get your hands busy.
#4. Pet Sitting
Aside from loving to help your furry friends keep fit, you can also make some cool cash while doing it. You can take up a pet-sitting job in your local area or look for similar jobs online.
#5. Catering
If you always love fixing up dishes for family or doing a small gatherings, then you should consider taking up catering as a form of business. You can cook for events or ceremonies and get paid to do what you love. If you wish to go with this, you can get your professional catering business plan here and watch your business bloom.
#6. Photograph
This is one sweet business idea that is very lucrative in today’s world. Everyone wants to capture a memorable experience of their best days, and as a photographer, you can get highly rewarded for that cause. If you have a skill already, then just set up an online presence and watch your small business grow. Get your professional business plan for your photograph business here
#7.Event Planning
Do you know the number of events that happen each week or the number of weddings that goes down each weekend? If you have an idea then you should consider being an event planner.
#8. Food Truck
Starting a food truck business is also one of the small businesses you should consider venturing into. You will just need to make quick snacks and food for your customers. We also have a unique food truck business plan if you wish to own that food truck business today.
#9. Home Staging
Do you have home staging skills? Don’t you want to make people’s houses look like paradise? Then involve in this interior design. It will get you some serious fortune.
#10. Travel Planning
Travel planning is also one of the profitable small business ideas that requires planning a good travel experience for your clients. You can put things together, set up good locations, and then make their experience stress-free.
#11. Health and Wellness Coaching
If you are a health enthusiast, then leading and coaching a lifestyle audience would certainly fit in. You can help with basic exercises, yoga, and other forms of fitness activities. Get started by advertising your services and reaching out to people that might need your services.
#12. Dating Consulting
If you are a relationship expert, then consider venturing into this business idea. You can help couples or partners get hold of their emotions and fix problems that have been lingering for a period of time.
#13. Pet Grooming
Pet grooming is also one business you should consider dedicating your time to because it can be lucrative. Most of the time, house owners focus all their attention on numerous responsibilities and then have little spare time for their furry friends. At this point, they would demand the services of a pet groomer.
#14. Thrifting Reseller
Reselling used vintage goods is also a profitable business, and all you need to do is to grab some stuff, iron them out, take good pictures and get selling. You can specialise in products like clothes, homewares and bags among others.
#15. Phone Accessories
Mobile phones are one of the most essential commodities for a human being, and to this effect, there are millions of phones that require different types of accessories. You can decide to then sell those accessories to the vast majority of customers in need of them. It can be a print on demand, handmade or any other type of accessory.
#16. Offer Child Care
If you are good with kids and love to sing all the songs they love, then get a proper licence and start a new childcare business for yourself. The child care market is in demand and you can make an income from taking care of them.
#17. Start a Beauty Business
Beauty products are always in high demand, come rain or shine. It does not depreciate; instead, the demand will go higher. You can purchase these beauty products, sell them online or onsite, and make revenue out of them. You can choose products that are in high demand, such as personal care products, home spa products, and beauty technologies.
#18. Become a Handyman
Are you fond of fixing things and acting like an engineer around the house? Then choose to be a handyman. If you always find yourself trying to fix basic things like tiles, plumbing issues, doors, putting up fences and other likely jobs in the house, then turn it into your profession and get paid for it. You can build a website and advertise your services locally.
#19. Start Online Coffee Shop
Everyone needs a hot cup of coffee before their day can begin, so why not produce a unique coffee and sell it online? You keep running away from the competition, forgetting that it’s a multi-billion dollar industry. You can pick a niche that best works for you and make the most of it.
#20. Sell Subscription Boxes
If creating your own products seems too tough for you to handle, then you can choose to curate them. Just sell subscription boxes with curated products and make your own cool cash. You can pick any niche you want and at any quantity you desire.
Best Small profitable business ideas to start from home
There are multiple reasons attributed to choosing a home-based business. it can be as a result of convenience, lack of finances, or maybe you wish to have a side job apart from your corporate profession. If you find yourself in any of these categories, then these business ideas are for you. Pick from these options below and set your entrepreneurial spirit alive.
#1. Dropshipping
Dropshipping is one of the best small business ideas you can start from home at a low startup cost. It involves getting in touch with dropshipping suppliers, managing and advertising their products, and then taking orders when customers are interested in their products. As a dropshipper, you will then take the order to the supplier, who will in turn return the package and send the orders to the customer that requested it. Pretty cool right? Try it out.
#2. Sell Handmade Products
If you are a lover of crafts and arts, then why not put them to good use? Create your designs and put those handcrafted products online. You can make scented candles, make jewellery or a piece of art, make homemade dishes, design, sew clothes and advertise online, or craft furniture. This endless list can be created in the comfort of your home and then marketed online for customers to see and order.
#3. Print-on-Demand
You can also run your print-and-demand business from home without much fuss. Print-on-demand is also a type of drop shipping that allows you to sell products that have your custom designs on them. You purchase the products and then put your customised prints on them according to your customer’s order. These products are not limited to accessories, homewares, footwear, electronics, art posters and footwear.
#4. Buy in Bulk and Sell Online
This is one of the easiest ways to make money from the comfort of your home. You can easily purchase any good based on popular trends, at wholesale, and then sell it individually. Purchasing those goods in bulk will reduce the cost, rather than buying them individually. To make more profits out of this, you can also purchase directly from the producer of the alleged goods.
#5. Start a Blog
Creating a blog is also one of the best small profitable business ideas you can start from home and still generate a steady passive income. All you need to do is to get a website, choose any topic that interests you, make your blogs engaging, and then attract traffic to your blogs. As you begin to experience growth, you can also incorporate affiliate links and make money from advertising people’s brands.
#6. Join an Affiliate Program
Affiliate marketing is now one of the leading businesses in today’s world. This is one of the easiest forms of e-commerce that requires you to act as an associate while selling a company’s product and then get a commission for each sale you make. All you need to do is to advertise the product on your online store and then receive your cut once you finalise the deal with the customer.
#7. Freelance Writer
As a freelance writer, your duty is to create content that will either educate your audience or cause them to buy a product. Businesses all over the globe need content writers to keep their websites afloat, and instead of having an in-house writing team, they prefer to hire freelance writers.
#8. Virtual Assistant
The work of a virtual assistant is to help the CEO or manager of a company handle some of their affairs and reduce their responsibilities. As a virtual assistant, you would need to fix meetings, respond to appointments, and book flights, among other things, from the comfort of your home.
#9. Project Management
You can also become a project manager and manage the daily tasks of a big company to enable them to maintain steady progress. This type of job is very lucrative and can be done in the four wall corners of your room.
#10. Become a Social Media Manager
When you become a social media you will be required to manage and maintain a constant online presence of a particular brand. You will need to create a social media content calendar, post timings, engagement and advertising campaigns.
#11. Freelance Developer
Over 99% of businesses or new startups need a developer for a particular gig. It might be to design a website or to develop one. As a freelance developer, you will be open to numerous similar gigs from potential clients.
#12. Become an Online Tutor
Based on your level of knowledge in any course or subject, you can also consider selling your skills to students that need extra guidance on the subject. You can do this online and still get good pay from your clients. You can specialise in mathematics, English and science among others. Teaching a talent which includes music and tailoring would also not be a bad idea.
What is the Easiest Business to Startup?
If you are looking for a business that you can start with few to zero stress and cost then consider these businesses below.
- Event planning
- Gardening and Landscaping services
- Yoga instructions
- Painting
- Tutoring
- Pet sitting
- Residential cleaning services
- Delivery services, among others.
What Unique Business Can I Start?
If you are a first-time entrepreneur, you should focus more on settling for a unique business idea that is not all over the marketplace. This process is to limit the number of competitors you might face at the beginning. These unique businesses include owning a food truck business, starting a dog-walking and pet-sitting business, becoming a virtual assistant, teacher or even a virtual interior designer and selling decor products.
Which Is Best Business to Start?
The best businesses to try out include affiliate marketing, dropshipping, cleaning services, online courses, consulting, digital marketing and graphic design among others.
What business will Grow in 2023?
According to recent research, it has been estimated that the top businesses that will boom in 2023 include:
- App development
- Restaurant
- Rental companies
- Bakeries
- E-commerce
- Personal trainers
- Auto repairs
Final Thoughts
With the carefully compiled list, we have above, you will be able to select the best business idea that will yield the highest return in the near future. While making your choice, it is best to capitalise on any skill or experience you have. With this, you will be able to follow your interests and passions. Remember that choosing a business that interests you will make you fully committed to it.
FAQs
What businesses are hot right now?
The main businesses booming in the marketplace include content agencies web design and development, bookkeeping, real estate, online publisher, digital marketing firm, and e-commerce companies selling hand-crafted goods on Esty among others.
What businesses make a lot of money?
The most prominent businesses that can make you a whole lot of money in a short period include:
- Courier services
- Online tutoring
- Business Consulting
- Website design
- Blogging
- Catering business
What are some low-cost business ideas with high-profit potential?
If you do not have enough capital to start up any business, then you should choose a low-cost business that will still generate high profit. You can pick copywriting, blogging, digital marketing, translating, product licensing and landscaping business.Â
