The economy of the United States does not need an introduction; it really seems to be incredible and unstoppable. In 2018, the country’s GDP was 2.8 percent, and the subsequent years will witness a similar GDP between 2-2.5 percent. The global pandemic might have affected the country’s economy slightly, but it is proud to be back on the wagon.
Now, being an aspiring entrepreneur, we know how you must be going through this phase. Perhaps, you have a business idea, but you do not know whether it will be profitable in the future or not. Probably, you must have read the statistics that only 40 percent of the businesses opened up in 2020 succeeded and were able to generate sufficient revenue.
Hey, this doesn’t mean you have to lose hope and do not give your idea a try. Even if you have a small business idea, it can thrive in the industry if you back it up with proper planning, diligence, and research. Risk analysis and mitigation are important, but you should not start a business and step away from it because of all the identified risks.
So, here are the 10 profitable small business ideas that can grow and flourish:
1. Start a house cleaning service
You do not have to initiate a huge cleaning business and cater to large-scale commercial enterprises. Instead, you can customize your services and fulfil household cleaning requirements systematically. You can have a few assistants with you or have family members in your team; you can still do a fantastic team job.
It is advisable to pick up an area and provide cleaning services to the houses located in the same. In this way, you won’t be spending on the commute and saving up the expenses. Some households are particular about cleaning, and they avoid generic and popular cleaning services. They prefer to hire a local cleaner that can cater to their special requirements such as using green cleaning solutions, using minimal brushes, providing services within the specified slot, and cleaning up intensively a particular area.
You seek flexibility, you build good connections, and it can be started with minimal funds you have in your savings.
2. Food Service
People passionate about food and hospitality can also do a small business in an exciting manner. They do not have to open lavish restaurants to earn revenue and reputation, even a small food truck can serve the purpose. Does this sound undermine your abilities? We do not think so. People love to munch on food trucks more than at restaurants. So, you can still be a legend in the food eatery industry if you can fulfill the taste buds of your future customers.
You might have to spend less than $10k for a food truck business, plus you can explore a lot of food options. Think apart from the usual popcorn, French fries, and ice cream. A survey before setting up the food will help you a lot.
Read more: How to start a food truck business
3. Health care service
If you love taking care of yourself and others, and are engrossed in health and fitness books, then there is a small business idea for you. As per the statistics, the US expenditure on personal health care services is 20 to 25 percent of the total expenditure.
The opportunities and business ideas are countless. You can start with a health food store, organic food store, vegan food store, a food store for gluten intolerants, and people having sensitivities. If you are interested in the physical fitness industry, then you can start an online yoga class or open a yoga and meditation center.
If you want to work on the health issues and resolution and not focus only on prevention, you can start a care center for diabetic patients and people suffering from other illnesses.
Read more: How to start home health care business
4. Landscaping or gardening business
It is so good to see that people put effort into building and maintain their gardens. But if they are tight on time, you could be the one helping them out with your landscaping and gardening services. Choose an area where people have yards and spaces for landscaping but do not have time to take care of the same. Only then will they assign work to you, or they will do it by themselves.
The US citizens are spending around $16 billion in a year on the landscaping industry. Unbelievable, isn’t it? You can take care of the lawns, plant the flowers and shrubs, water them and mow the lawns on a regular basis. You can design suitable packages for convenience, and we are sure you will earn decent revenue out of it.
You can further expand the business and take it to the macro-level or focus more on quality with your existing clients.
5. Graphic designing firm
Now, you would say that people can simply log onto a designing tool on the internet and get designs for free. But small businesses do not like mediocrity. They want their businesses to stand out through brand identity. Internet tools are great for creating logos and other brand designs, but they do not offer the desired uniqueness.
On the other hand, your graphic designing firm can serve the specifications of these small businesses that are looking for more creativity. You can start it as a freelance or home-based model and further take it to the organizational level.
6. Social media management
Businesses of all kinds need to have an online presence, and the more dominant it is, the more sales and popularity it can generate. You can handle social media services of such businesses of a particular niche or belong to several industry types.
Since most of the social media channels are free, you will not need a considerable capital set-up. But you can hire interns to assign repetitive work and subscribe to specific important tools. We suggest being loyal to a few customers and seeking their trust.
7. Party planner
Yes, we know the pandemic is all around the corner, but parties won’t stop happening in the future. In the United States, parties are conducted for all kinds of occasions; it could be a wedding party, a graduation party, a bachelorette, or a spinster party. Besides the usual birthday party, you could be of help in several instances. You can even start a full-fledged event planning organization; it all depends on you.
The capital requirement will be a matter to handle in the initial stages, but as you start earning income, you can get on track. If you love parties and interacting with people, you should not miss this venture.
8. Daycare services
Love kids? You like to entertain them, educate them, and take sufficient care of them. Then, here is the daycare business idea just for you. Surprisingly, as parents are inclined towards full-time work and businesses, demand for daycare services has increased significantly in the last 2-3 years.
The only thing that you need to bother is the capital and trustworthy staff. You will need a daycare center that attracts children and makes them love the space. Certainly, it cannot be a part of your home. Moreover, you will need teachers and caretakers to look after the children. Since parents are more concerned about this matter, you have to be extra careful while hiring your staff.
9. Auto repair or auto care services
You don’t have to be passionate about this business idea; mere knowledge is sufficient to start an auto repair service. If you can nail this business venture, we are sure you will expand tremendously. This is because even if the number of cars increase every day, the supply of high-quality repair services is much less. So, when you get into this business, ensure that you have pros working for you and have an excellent customer support system.
If you are more into car care and not fixing them up, a car wash company is still a good idea.
10. Financial planning services
Everyone wants to achieve the American dream. Even if slow living and minimalism are in trend, people want to enjoy abundance and not worry about money in the future. It is accepted if you do not have any investment or capital as you won’t need much. All you need are financial knowledge, skills, and the ability to help people manage their finances.
Briefly, you can pick any of the above ten business ideas and turn them into highly rewarding by putting in smart efforts.