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How do you know if a small business idea is winner? Does it have an ample market? Forgiving margins? Fits your lifestyle? This is an ideal place to start.
The following small business ideas may not offer the excitement of, say, a Hollywood stunt double, but if stability is your thing, you’ll be excited to learn about the possibilities below.
Bookkeeper
Not the coolest sounding job, sure, but arguably one of the most vital. Sageworks, a financial information company, reports that accounting services has the highest profit margins (a cool 18.4%) among small businesses. Not a trained CPA? No problem. If you have the data skills to keep a business financially organized, you can carve out a career as a bookkeeper.
Property Manager
Dealing with tenants and property maintenance can be a pain, but the recurring revenue from rent is a natural pain reliever. According to Sageworks, property management also pulls high profit margins among small businesses, with an average margin of 14%. Becoming a property manager or landlord may have a high initial cost, but it can be recouped.
Career Coach
Service-based careers regularly rank as one of the most profitable small businesses because they rely on human capital. Given the low barrier to entry, career coaching is a service that can be very profitable. It may seem like a part time job, but with today’s competitive job market, career coaches are in-demand among companies and individual clients alike. .
Personal Trainer
It’s no secret that people are willing to pay to be fit, or to improve their quality of life. This is reflected in Sageworks’ report that personal health and wellness has a high profit margin. The need in the marketplace is there, too, with the Center for Disease Control reporting 1 in 3 Americans as obese. Personal training requires you to literally sweat it out, but sweating alongside a roster of clients can lead to a healthy paycheck.
Legal Services
If you’ve hired a lawyer, you know that legal services aren’t cheap, and you may not be shocked to learn that legal services companies enjoy high profit margins. Low operating costs, repeat clients, and the fact that you don’t need to be a bona fide lawyer to enter the legal services market all contribute to the allure here. Title search agent and settlement officer are among the options for entry.
Ecommerce Reseller
There’s enormous potential in eCommerce reselling. It’s not overly complicated or glamorous, but it’s many practitioners declare it a delightfully simple way to make money. To get started, simply scour sites like eBay or Amazon for good deals, purchase items, and resell them for a profit. You have direct control over each purchase and sale, allowing you to rake in high margins. You can start slowly to help minimize overhead costs and maximize profitability.
How do you know if a small business idea is winner? Does it have an ample market? Forgiving margins? Fits your lifestyle? This is an ideal place to start.
The following small business ideas may not offer the excitement of, say, a Hollywood stunt double, but if stability is your thing, you’ll be excited to learn about the possibilities below.
Bookkeeper
Not the coolest sounding job, sure, but arguably one of the most vital. Sageworks, a financial information company, reports that accounting services has the highest profit margins (a cool 18.4%) among small businesses. Not a trained CPA? No problem. If you have the data skills to keep a business financially organized, you can carve out a career as a bookkeeper.
Property Manager
Dealing with tenants and property maintenance can be a pain, but the recurring revenue from rent is a natural pain reliever. According to Sageworks, property management also pulls high profit margins among small businesses, with an average margin of 14%. Becoming a property manager or landlord may have a high initial cost, but it can be recouped.
Career Coach
Service-based careers regularly rank as one of the most profitable small businesses because they rely on human capital. Given the low barrier to entry, career coaching is a service that can be very profitable. It may seem like a part time job, but with today’s competitive job market, career coaches are in-demand among companies and individual clients alike. .
Personal Trainer
It’s no secret that people are willing to pay to be fit, or to improve their quality of life. This is reflected in Sageworks’ report that personal health and wellness has a high profit margin. The need in the marketplace is there, too, with the Center for Disease Control reporting 1 in 3 Americans as obese. Personal training requires you to literally sweat it out, but sweating alongside a roster of clients can lead to a healthy paycheck.
Legal Services
If you’ve hired a lawyer, you know that legal services aren’t cheap, and you may not be shocked to learn that legal services companies enjoy high profit margins. Low operating costs, repeat clients, and the fact that you don’t need to be a bona fide lawyer to enter the legal services market all contribute to the allure here. Title search agent and settlement officer are among the options for entry.
Ecommerce Reseller
There’s enormous potential in eCommerce reselling. It’s not overly complicated or glamorous, but it’s many practitioners declare it a delightfully simple way to make money. To get started, simply scour sites like eBay or Amazon for good deals, purchase items, and resell them for a profit. You have direct control over each purchase and sale, allowing you to rake in high margins. You can start slowly to help minimize overhead costs and maximize profitability.
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