Top 7 Highly Profitable Industries for Small Business Startups
Gone are the times when career oriented people used to spend most of their time is searching for good job opportunities. Now, they look for most promising business opportunities and this enthusiasm of entrepreneurial minds is the major factor contributing in innovation today!
To help our enthusiastic readers with entrepreneurial mind, we have brought to you a list of most profitable start up businesses. This list is extracted from various sources as mentioned below and you may want to check each source for details later.
- The 15 Most Profitable Small-Business Industries
- The 6 Most Profitable Industries for Starting a Business in 2016
- The 15 most profitable business sectors
Let’s start with the list of most promising startup industries:
1- Accounting, Tax Preparation, Bookkeeping and Payroll Services: 18.4%:
No matter how the economy is doing, everyone needs accountants. Also, this industry tends to have low overhead and repeat clients.
2- Company & Enterprise Management: 15.5%
Small, privately-owned offices of bank holding companies and other types of holding companies.
3- Real Estate Agents and Brokers: 15.19%
With low operating costs and all you need to get started is an agent or brokerage license.
4- Legal Services: 14.48%
Everyone needs a lawyer, at least once in life time and businesses need them often. Not only lawyers, but notaries, settlement officers (who deal in the transaction of securities) and title search agents in real estate.
5- Physicians: 13.01%
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.
6- Management Consulting Services: 12.05%
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.
7- Design Services: 11.4%
Small businesses that specialize in interior, industrial and web & graphic design etc.
Did you notice, what makes these industries profitable?
It is “human capital”, and almost all of these are service industries and the reasons for service industries being highly profitable is lower overhead and startup costs. A lot of these industries you can start from your house.