4 Highly Profitable Small Business Industries to Consider
Are you thinking about opening up a small business?
After looking at numerous small business industries, we’ve discovered four highly profitable options that could end up turning a hefty profit over the long run.
One thing to note is that people talented with numbers have numerous options available to them. So if that seems like something that’s right up your alley, then you’re going to be very impressed with a few small business opportunities on this list.
1. Operate a Management/Holding Company
With this particular business model, it’s the owner and team’s job to discover highly profitable small businesses to purchase as part of the holding company.
If you understand numbers and know how to evaluate businesses, this can turn into a huge success for you, your employees, and anyone else that’s part of the partnership.
2. Payroll Services, Tax Preparation, Bookkeeping, and Accounting
As mentioned earlier, being good with numbers is definitely great for anyone looking to open up a profitable small business at this point in history.
The accounting business is a huge performer. That’s why companies like H&R Block, Jackson Hewitt, and other tax services seem to be springing up all over the place.
This business is in high demand and it doesn’t seem to be slowing down at any point in the future.
Think about it.
Everybody needs an accountant at some point during the year, and certain businesses need an accountant all year round.
So, it doesn’t matter if we’re in the middle of a really slow economy or the economy is booming. You’re always going to have customers that need your tax preparation, payroll, and bookkeeping services.
In fact, it’s always wise to enter into an evergreen business model when opening a small business. Your chances at achieving success become that much greater.
Are you having a tough time coming up with a name for your business?
According to SecStates.com, nationwide and Georgia Secretary of State corporations lookup website, “Find information on any corporation or business entity in the United States by performing a search on the Secretary of State website of the state or territory where the corporation is registered.”
With that said, if you have a particular business name in mind, make sure you visit your local Secretary of State website to find out if it’s still available. Sometimes other companies already have them in use.
3. Become a Real Estate Agent
This may seem counterintuitive since the housing market crashed nearly a decade ago, but that’s the precise reason why this market is booming so much right now.
Real estate has been on the rebound for about five years and real estate agents are making fantastic money in this current market.
Plus, as people repair their credit and more and more home loans become available, consumers are having an easier time getting mortgages to buy homes.
Take advantage of the current real estate boom and make good money in your new small business.
4. Renting or Leasing Automotive Equipment
We currently live in an on-demand economy.
Businesses need trucks, cars, backhoes, tractors, and anything else you can think of immediately when the time comes.
You can be their middleman by providing this automotive equipment for a fraction of the cost they’d normally have to pay to purchase vehicles themselves.
This industry is booming and it’s only going to get better. So get in on equipment and automotive rental now while the iron is hot.
As you can see, there are clearly some excellent opportunities for those looking to start a small business. Give any one of these a try if it sounds appealing to you.
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