Low Risk High Profit Business – When people think of profit, they think of it in different ways. For example, there is a big difference between the most profitable businesses and the most profitable small businesses.
But if you’re wondering what is the most profitable business for a small business owner, that’s usually a separate category. Most of us don’t have access to venture capitalists or the ability to run a business for ten years before we start making money. So I’m narrowing the list down to the most profitable small businesses.
Low Risk High Profit Business
We’ll see which small businesses are the most profitable, examine some of the most profitable businesses to start from home, and give examples of successful business owners in these areas.
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Hope these real success stories and small business ideas will boost your creativity and help you earn a lot of income.
Consulting firms focus on helping other business owners solve their problems. You can choose a niche if you specialize in a specific area, or it can be a complete solution.
When I started my consulting business, I consulted on everything. One day I’ll be analyzing payment processors, and the next day I’ll be looking for a good promoter for a brand. I eventually turned to writing about business and technology because it makes it easy to impart knowledge to thousands of people every month.
Business consultants can earn hundreds a day to billions a year. M&A consultants can earn huge commissions.
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Although only ⅙ of home-based workers are successful, successful ones can build profitable businesses. Santino Fillepelli told us:
I have worked in the real estate industry as an agent, broker and investor, earning over $2 million a year.
Find out how award-winning real estate agent Paul Balzotti built his real estate business in our exclusive interview.
Then check out our other real estate investing interview with Santino Filipell, a famous real estate agent, where he shares how he built his agency:
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One of the most profitable businesses to start is cleaning. Whether you choose to start a housekeeping service or a more specialized niche like carpet cleaning, you can make a lot of money in the cleaning industry.
My dad loaned me $3,000 and I took a course in carpet cleaning techniques offered by a local cleaning company.
Now he does it three times a month. Read our blog on how to start a carpet cleaning business to learn more about why this is one of the most profitable small business ideas.
You can also check out our interview with Chris Mondragon, who earns $125,000/month with his cleaning business. He told us:
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Social media marketing is a big industry. According to Statista, it’s a $153.7 billion industry. All you need is a computer, software and clients.
You can expect each client to earn around $2,000-$5,000 per month and require 20-40 hours of work to provide adequate service.
This means that a single person can earn up to $40,000 per month from home without investing in savings. See how Jason turned Socialistic into a $500,000 annual social media marketing agency:
One of the most profitable businesses is creating online courses. Online learning is expected to grow at a compound annual growth rate (CAGR) of 14.6% and reach $374.3 billion by 2026.
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Developing an online course can cost a few hundred dollars if you know how to do it, or it can go up to $20,000 an hour, of course, if you pay someone else to create it.
Not only is it easy to get started, people are willing to pay for an online course if it helps. In fact, some of the most popular courses can cost up to $5,000. However, most cost less than $300 for a course.
One business owner I’ve found most fascinating since I started writing is Jazmin Richards, owner of BlkSunflower. He started his small business in early 2020 with $100 and grew it to $200,000 per year.
Most candle makers have a 40-60% markup if they sell in bulk and more if they sell direct to consumers. This makes it a very profitable business. Check out our interview with Jazmin:
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Payroll agencies charge a monthly fee for their time, plus an additional fee per employee. There are two ways to do this:
You can easily become an affiliate with some of them, help people sign up for their services, install them, and earn a commission for a monthly fee.
It can be a very profitable business, especially if you combine it with things like bookkeeping or preparing tax returns, because it’s extra money to make your job easier.
Delivery services can be among the most successful small businesses. With major players like Uber and DoorDash capturing the lion’s share of delivery service revenue, the industry is expected to reach $192 billion by 2025.
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If you’re starting something similar, just focus on the local area and find better ways to market the business. You can make about 17% net profit. This is why delivery services are one of the most profitable business ideas.
If you enjoy creating websites, logos and marketing materials, graphic design can be a good choice because it is always necessary. You can start with just your computer and design software. Find clients on Fiverr or Upwork and start a profitable business from home.
Many people start food trucks because they are more profitable than owning a restaurant. Save money on:
To start, it costs around $41,200.
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Personal trainers also make a living. They can earn anywhere from $50 to $250 an hour coaching people to achieve their fitness goals. Although personal trainers don’t need an education, the income is 140% higher with a master’s degree than with a college degree.
If people are paying for your knowledge, A big expense is licensing and marketing. If you are interested in physical fitness, training may be for you.
The building materials industry has a profit margin of 22.73% and a net margin of 7.92%, but companies that do it right can be more profitable. Paul Akers started FastCap when he was a cabinetmaker and needed something to quickly cover screw holes.
He recently produced over 600 products, raised prices only three times in 21 years, and never fired anyone. Watch our interview with Paul to find out how he did it.
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If you love food, this might be for you. Running a catering service allows you to prepare delicious food and bring it to events such as weddings and corporate meetings. At the event, you set up a buffet or serve the food in whatever capacity you want. You can also serve alcohol to increase your profits if you have a liquor license.
According to Cater Source, the average is 7-8% before food taxes. Additionally, the market is expected to reach $328.11 billion by 2025. This means that there could be between $85 billion and $97 billion in pre-tax profits from traveling.
Post-pregnancy services, sometimes referred to as postpartum services, are a type of business that helps mothers recover after childbirth. If you don’t know them, they are part of the medical field and can help you with things like:
According to the Health Care Cost Institute, it’s estimated that women spend an average of $3,100 on care in the first year after giving birth. If someone created an Uber-style post-pregnancy care service, that would be a multi-million dollar achievement. For example, medical and other visits can take place directly at home and make life easier for women, perhaps a postpartum doula through the application service.
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Today’s small business environment is ideal for e-commerce. Startup costs are low (less than $1,000) and you can earn over $120,000 per month. In our interview with Marcus Harvey, owner of Portland Gear, he told us:
Get a domain for $10, Shopify for $30 a month, do your social media marketing and buy 50 shirts for $9 each, then build from there.
Courier services can be very profitable if you have the right professional network to get customers who need letters and other items delivered quickly. Courier service is available by car or bicycle.
Courier services charge a base rate of $1.50 to $1.70 per mile, plus additional fees for factors such as:
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Notary status is often a simple add-on for business owners. It usually costs less than $1,000 to get:
Most states allow you to charge a small fee for notary services and additional fees for driving time and other expenses. Clients are real estate agents, corporations, accountants and financial institutions who need to sign contracts
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