7 Small Business Ideas With Big Potential

There are many small businesses you can venture into with little-to-zero investment. One of the real secrets of running a successful small business is strategic thinking, passion, and timing.

Whether you want to start a full-time endeavor or just add another part-income source, this guide is for you. So, let’s explore 7 Small business ideas that are potentially profitable this year and several years ahead.

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   Mobile Businesses

Working remotely seems to be the wave of the future. Mobile businesses are fast becoming one of the trending and most lucrative small businesses.

Can you perform a skill or offer a service that can be provided from any location? You should consider shifting what you’re selling from in-house to on wheels and start traveling to your clients.

One of the benefits of starting a mobile business is that it increases your opportunity to earn revenue from any state or city. It also provides you with the flexibility to work on your terms.

Better yet, “businesses on wheels” are in-demand from consumers. With the increasing online ordering and service delivery, running a mobile business will enable you to serve your customers better. Common profitable mobile businesses include IT, personal training, food trucks, and repair services (plumbing, phone, car, etc.)

2. Language Translation

Despite the existence of advanced machine translators, the demand for human translators is still high. If you’re multilingual, consider starting a business to capitalize on your language skills.

Numerous freelancing websites give translators the freedom to establish themselves as experts. Skilled translators can look for and find work on platforms like Upwork and Fiverr.

You may as well directly contact famous bloggers and ask them if they need your services. As you work successfully with several clients, you can hire more language translators to expand your service offerings.

3. Home Renovations

If you’ve ever hired a remodeling contractor, you probably know how hard it can be to find a good one. Home renovation is a small business idea that always appears to perform well, even in uncertain economic times.

If you’re passionate about bringing people’s home renovation dreams to reality, why not turn it into a business? Every year, homeowners spend a lot of money on home improvements. That means there’s always business for tradespeople like roofers, tilers, painters, carpenters, drywallers, and electricians.

Home renovation workers offer their services as subcontractors, general, or individuals. They may also be specialists in a particular area, like solar installations, restoring historic structures, kitchen or bathroom renovations, etc.

Home renovations are best suited to remote workers because most home improvements are made on a contract basis. You also won’t need business premises as the work is done at the client’s location. And, startup capital for machinery and tools is typically much less compared to that of new construction.

The best renovation workers often have extensive experience in building construction. To be considered an expert, you may also need to be up-to-date with the latest knowledge of safety regulations and building codes. Certificates, certifications, and licenses further add to your professionalism.

4. Writing and Editorial Services

There are many editorial services you can provide from the comfort of your home. Some editorial services include proofreading, copyediting, copywriting. Ghostwriting, book writing, and magazine article writing are also other options.

Copyediting is a fact-checking job and involves inspecting grammatical, typographical, and stylistic errors. Ghostwriters do the research and write content but someone else is credited as the author. Copywriting or business writing is writing that promotes a business.

If you are an expert in a particular field, like interior decorating or accounting, you can earn cash by writing a book about it. If you don’t like the idea of writing a book, why not write for newspapers and magazines?

You may also make money by providing web page content. As you improve your skills, also consider increasing the rate you charge per post.

5. Starting a Blog

Blogging is a low-risk, high-rewarding venture and is one of the best online business ideas. When starting an online business, you’ll likely end up selling your own products, someone else’s products, or your time (consulting or coaching).

With blogging, you can sell all of these from your website and earn the most revenue. So how do you make money blogging? First, you need to learn how to blog like a business right from the start. Start by choosing a niche based on business factors.

You can also take the route of affiliate marketing to earn commissions after you grow your blog. There are plenty of ways to monetize and make a business from blogging.

6. Cleaning Service

Cleaning service is a straightforward business that requires not much investment to start. If you’re passionate about cleaning, you can quickly turn it into a business. You only need simple planning, marketing, and commitment to get your service noticed.

With a handful of staff members, a cleaning supplies provider, and transportation, you can provide cleaning services to commercial properties, apartment complexes, and homeowners. To stand out from the crowd, consider including premium cleaning options, such as exterior power washing and floor waxing at a fee.

Remember, cleaning businesses are typically required by law to carry the right insurance. The common types of insurance for a cleaning service are workers’ compensation, liability, business vehicle insurance and bonding. Having the best insurance plan is crucial in establishing your cleaning company as credible and professional.

7. Dropshipping

If you’re looking to sell products online but lack funds to buy and storage is setting you back, you should consider dropshipping. This e-commerce business does not require you to manage any physical products. All you need is to set up an online-shop and partner with suppliers who’ll store, package, and ship orders to your clients.

Dropshipping also saves you time on product research. This is thanks to apps like Oberlo that help you find unique, high-quality products to sell.

Ready to Start Your Business With These Small Business Ideas?

Setting up a new business is often an exciting endeavor. Plus, there’s an endless amount of business opportunities to pursue as an entrepreneur. If you’re looking for small business ideas that work, this list is a good place to start.

The most important part is to take action, see what works, and stay consistent. For more tips on starting and running a business, check out our blog.