Top 10 Most Profitable Small Business Ideas

By | December 8, 2023

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Top 10 Most Profitable Small Business Ideas

Top 10 Most Profitable Small Business Ideas

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Contrary to popular belief, there are actually several ways to start a business that allow you to focus less on logistics and startup costs and more on getting your ideas off the ground. Let’s say to you “I want to start a business but I have no idea”.

These 26 small business ideas are a great entry point for beginners, startups, or anyone with a busy schedule and allow you to set aside one business without giving up everything else.

To help you find inspiration to get you started, we’ve compiled a list of over 100 in-demand business ideas, divided into categories such as fitness, clothing and gaming.

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Whatever your type of business, you’ll need a good domain name (use our free domain name generator) paired with great branding and a representative logo.

Buy stock, store it, pick it, pack it, ship it. Inventory management is a big commitment when you run a business.

Top 10 Most Profitable Small Business Ideas

Dropshipping is an easy and low cost business idea to start and the first of our good business ideas. Dropshipping is a fulfillment model where a third-party supplier stores and ships inventory to customers on your behalf. It’s one of the best businesses to start because it’s low overhead, out of stock, and scalable.

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You don’t need to handle any product yourself, just sell and ship the order to your supplier. In fact, it is the fastest and cheapest business to start.

You can select products from one or more suppliers with a theme in your own online store that focuses on a specific niche, such as gear for yoga enthusiasts or water bowls for dog owners. When a customer buys a product from you, the order is sent to your supplier, who fills it on your behalf. However, you are still responsible for your own marketing and customer service.

There are domestic and foreign suppliers that you can work with as long as you can build a relationship with them based on trust; an unreliable supplier will reflect poorly on your brand.

Dropshipping is a great way to test product market fit and start a business before investing in your own original products. Always be sure to order a sample for yourself to ensure that your supplier is reliable and that the quality of the products is suitable to sell to your customers.

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Excited to start a business, but don’t know where to start? This free and comprehensive guide will teach you how to find the best new and trending products with high sales potential.

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Another dropshipping model, print-on-demand inventory, puts shipping and fulfillment in the hands of a third-party supplier. But unlike the previous dropshipping business idea, the focus here is to customize the products with your own designs to create something original.

Top 10 Most Profitable Small Business Ideas

T-shirts, hats, phone cases, hoodies, skirts, handbags and more become a canvas for your creativity. You can think of witty slogans for developers or references that resonate with cat owners – if there’s passion and pride in the community, there’s a potential t-shirt business you can start.

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Even if you’re not a designer, you can find one to work with on freelance sites like Fiver, Upwork, Dribbble, or 99Designs.

With many print-on-demand services, you pay per product, so the base price per unit will be more expensive than if you order in bulk. But the upside is that if a particular t-shirt design doesn’t sell, you still haven’t paid for the item (just the design, if you’ve outsourced it).

You can also use t-shirt mockup templates so you don’t have to spend extra money on a full photo shoot for each new design.

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There are several print-on-demand platforms you can work with, many of which can be integrated with your store for seamless order fulfillment. However, always be sure to ask for a sample of your product (often offered at a discount) to make sure your custom products look good.

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A book is just another kind of product when you think about it. As such, you can create one to meet a specific market demand.

Cookbooks, picture books, comics, poetry books, photo books, coffee table books and novels – if you have the knowledge or the creativity, you can bring a variety of original books to market. The options are endless, making it one of the best small business ideas to start with.

Print-on-demand is a relatively safe way to test the waters and get started with self-publishing. It also allows you to control the quality and appearance of your book.

Top 10 Most Profitable Small Business Ideas

Lulu xPress and Blurb are popular platforms for creating, ordering and distributing your own books as physical and digital products. You can also sell it on third-party marketplaces like Amazon or Powell’s.

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While you can order one book at a time, costs naturally drop when you buy in bulk. Consider pre-selling or crowdfunding your book idea to ensure there is demand and guarantee a certain number of sales so you feel confident about placing a bulk order.

If you have a blog or want to start one, launching your own book can be a great way to monetize a blog.

Digital products like music, courses, podcasts, and templates are unique to this list of low-cost small business ideas. Unlike others, they are not tangible. There are no recurring manufacturing or shipping costs to worry about, so your margins can stay high, making it another no-brainer to be one of the best businesses to start.

The trick is figuring out what makes a good digital product. Is it useful enough that people are willing to pay to download it?

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The answers range from original instrumental beats, to stock photos that can be licensed to other creators, to information products and templates that help people level their skill set in a specific field.

If you have a talent that can be turned into a digital product, consider packaging it into a new revenue stream.

Free Digital Downloads is an application that allows you to offer digital products in your store as easily as physical products.

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Top 10 Most Profitable Small Business Ideas

If you’re artistically inclined or know a camera, you can submit it using a print-on-demand business model to give others physical ownership of your work. Just make sure you own the rights to the content you want to print, or that you’re using public domain assets that you can freely monetize.

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If you already have an online following—for example, you’re a cartoonist or urban photographer—you’re in a particularly good position to try this small business idea.

Depending on the printer you work with, you can turn your work into products such as framed posters or wall art, greeting cards. There are many inexpensive digital templates and mockup generators like Placeit that you can use to showcase your products without having to print everything and take your own photos.

In our free 40-minute video workshop, we’ll take you from a product idea to building an online store to get your first print-on-demand sale.

Having a mission to move the business forward and set aside some profits for a cause offers social entrepreneurs a unique way to position their company in the marketplace while addressing the issues that matter most to them.

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While many social enterprises offer their own original products, you can also take any of the above low-cost small business ideas and partner with a nonprofit or implement that social good on your own, as long as transparent tin. How it works.

As part of your marketing, you can share the impact you’re having with your customers by endorsing your business, such as a blog post covering your work in the community or a real-time impact calculator on your site web.

The Give & Grow app makes it easy to partner with charities and incorporate your mission into your business. You can set it up to give a certain amount or a percentage of sales, or ask your customers to add a donation at checkout.

Top 10 Most Profitable Small Business Ideas

Offering services is not passive, but it can certainly be an attractive way to gain self-employment. With service-based small business ideas, “time” is your biggest inventory and investment. You only have a limited supply of hours per day. However, it makes it easier to get started if you have the skills that are in demand.

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Writers, graphic designers, virtual assistants, SEO professionals, cleaning service providers, dog walkers, real estate professionals and more can build businesses around their skills. You can offer this