Profitable Small Businesses

Those with an entrepreneurial spirit are itching to start a business. Finding a business that suits their talents is great, but they also want their businesses to make money and grow.

It can be tricky to find the right type of business that fits passion and profit, but we have outlined some small businesses in various industries that continue to grow and make money.

IT and Tech Support
Technology is integral to people’s personal and professional lives. Third-party IT companies can provide a very specific skillset that the everyday consumer needs and are not typically trained in. Overhead costs are low and technicians can charge a decent rate for their services.

Online Courses
With the world moving into a digital education space, in-person speaking or professional development events are taking place on computer and phone screens. Professionals have the opportunity to channel their experience and expertise into an online learning platform that requires a one-time fee or subscription. Popular course topics may include bookkeeping, web development, graphic design, social media, building proposals, HR development, etc. There may be an initial cost up-front to develop the courses and create an online presence, but that money can be quickly earned back with class purchases or subscriptions.

Home Improvement Services
While shows like “Fixer Upper” may inspire HGTV viewers to take on renovations to their homes, the majority of the market wants trained professionals to make home improvements for them. Home improvement may include design, carpentry, contracting, plumbing, landscaping, or even painting. The important thing to do is establish your expertise in just one or two of these services and ensure prospective clients can trust you with their homes.

Tutoring Services
Education is a top priority for most families. Some children need a little extra help outside of their normal classroom time. Tutoring services are a great asset to parents and their kids who may need extra attention for a subject or testing. These services can also be taught virtually, which provides the added perk of flexibility and low overhead costs. Most tutoring services charge anywhere between $25 and $56 an hour depending on the subject matter and tutor’s experience.

For those who want to work for themselves and also have expertise in a particular field or industry, consulting may be a great career path. Successful consultants are great at networking and building a client roster, have proven success in their career or area of expertise, and are able to collaborate well.