Here’s the list of the 15 most profitable types of small businesses that anyone serious can start up.
1. Accounting, Tax Preparation, Bookkeeping and Payroll Services
No matter how the economy is doing, everyone needs accountants. Also, this industry tends to have low overhead and repeat clients.
2. Management of Companies and Enterprises
This comprises the administering overseeing, and managing establishments of acompany or enterprise and that normally undertake the strategic or organizational planning and decision making role of the company or enterprise.
(1) establishments that hold the securities of (or other equity interests in) companies and enterprises for the purpose of owning a controlling interest or influencing management decisions
(2) establishments (except government establishments) that
Establishments that administer, oversee, and manage may hold the securities of the company or enterprise.
Establishments in this sector perform essential activities that are often undertaken in-house by establishments in many sectors of the economy. By consolidating the performance of these activities of the enterprise at one establishment, economies of scale are achieved.
3. Offices of Real Estate Agents and Brokers
While the real-estate market is largely dependent on the health of the economy, real-estate brokers and agents have low operating costs and all you need to get started is an agent or brokerage license.
4. Automotive Equipment Rental and Leasing
With the on-demand economy on the rise, Sageworks analyst Libby Bierman says that people may be leasing and renting more cars using on-demand services such as Zipcar — along with more traditional rental services such as Hertz.
5. Legal Services
Anyone who has ever hired a lawyer knows it’s not cheap. Law, like accounting, generally has low operating costs as well as repeat clients. However, this business category includes not only lawyers, but notaries, settlement officers (who deal in the transaction of securities) and title search agents in real estate.
6. Offices of Dentists
Dentists, like physicians, benefit from recurring patients, and while startup costs can be expensive — dental equipment is quite costly — the profession has the advantage of handling several patients at a time, plus many pay out of pocket.
7. Electric Power Generation, Transmission and Distribution
This category of small, privately-held electric power companies includes not just your traditional, fossil fuel electric powers but also hydroelectric, nuclear, solar, wind, geothermal and more.
8. Lessors of Real Estate
Lessors, also known as landlords, show that renting both residential and nonresidential properties is a profitable gig once you recover the initial costs of purchase.
9. Offices of Other Health Practitioners
How is this category different from physicians? It’s not, really. There is a census delineation between chiropractors, optometrists, mental-health practitioners and podiatrists — who fall under this category of “other health practitioners” — and all other types of physicians.
10. Offices of Physicians
Being a doctor requires years of training, certification and likely, medical school debt. However, doctors also benefit from regular clients and relatively low overhead costs.
11. Commercial and Industrial Machinery and Equipment Rental and Leasing
It pays to rent or lease. These businesses typically rent or lease commercial machinery and equipment across industries.
12. Religious Organizations
Religious organizations are having a profitable year. Really. Remember, being not-for-profit doesn’t mean your goal shouldn’t be to make a profit. It’s just how you distribute those gains. Instead of giving profits to shareholders, all of yours go to your organization’s mission, which is the furthering of your church’s aims. It has been a good year not only for churches, synagogues, monasteries, mosques and temples, but also for schools, colleges and universities that are operated by religious organizations.
13. Management, Scientific and Technical Consulting Services
Some types of businesses that fall under this category are businesses that provide either management or consulting on a range of expertise, including human resources, marketing and environmental issues.
14. Specialized Design Service
Small businesses that specialize in interior, industrial and graphic design are flourishing, as the value of a product or business’s function has become inextricably linked to appearance and design.
15. Office Administrative Services
These administrative businesses are the backbone of business operations across a variety of industries — from food services to physicians offices — and provide the day-to-day administrative services, such as record keeping, financial planning and billin