Learn how to get a real estate license here. 27. Turnkey Businesses Turnkey businesses offer an ideal startup model for those with limited time or budget, largely because the time investment is minimal. Examples of turnkey businesses include storage units, laundromats, and automated car washes -- basically, turnkey businesses are those that are largely self-sufficient and can almost manage themselves.
Trade Work If you're skilled in DIY and happy to compete on price while making a name for yourself, you can start leveraging your skills for cash right away. Don't know a hammer from a hacksaw? Then enroll in a course and learn. Skilled trades are one of the few industries in which demand outstrips talent.
COVID-19 regulations also made it difficult for restaurants to adapt and thrive, which makes the food industry an even more risky one to enter into. However, traditional brick-and-mortars are not your only option when it comes to managing a food or drink business. You can be super-successful for a fraction of the cost with a food or coffee truck.
While there have been some clear winners—we don’t even have to look at the numbers to call out loungewear brands and home fitness businesses—our research revealed some unexpected standouts. Those thriving business types—and our predictions for the most profitable small businesses to start in 2021—are: Healthy and beauty businesses Subscription businesses Businesses selling B2B and B2C Health and beauty businesses 55% of health and beauty business founders reported being satisfied with business performance in the past year.
79% of health and beauty founders reported having a positive outlook in the following months. Why these businesses thrived Under the category of health and beauty, you’ll find personal care items like hand sanitizer and soaps. These products were in high demand, especially at the outset of the pandemic, with increased concern about surface transmission.
Consumers diverted their beauty spending to at-home spa and salon experiences. With the slow rollout of vaccines and the continued need for self-care, we predict that health and beauty businesses will continue to thrive through 2021. High-potential health and beauty businesses to start in 2021 If you’re looking to start a profitable health or beauty business this year, consider the changing needs of consumers.
Subscription businesses 63% of founders who sold subscriptions were satisfied with business performance, compared to 55% of founders who did not sell subscriptions. We identified two subscription models commonly used by businesses that thrived in 2020: Replenishment model: subscribers receive the same or similar products each cycle. Membership model: subscribers have access to exclusive products or perks.
Subscriptions offer an easy way for customers to receive the products they buy frequently without having to make multiple trips to stores—and risk exposure. Even early in the pandemic, it was reported that subscription box businesses were experiencing a surge. Many replaced a lack of connection to activities that brought joy with delight delivered regularly to doorsteps.
Take Josh Pigford, founder of Baremetrics (a Saa, S company) and Cedar + Sail (a handmade homewares online shop), for example. What started as a part-time side project quickly became a profitable online business opportunity to stimulate his creative side and sell products he makes by hand. “I’m a sucker for little things that go on side tables and desks, so I started playing around with some ideas for concrete planters—the kind of thing that can hold succulents and air plants,” Josh says.
A month or so after I had the idea to make these little planters, and Cedar + Sail was born!” If you’re not sure what to sell, start by looking around your own house. What’s missing that you wish you had? Is it a concrete pot? Colorful artisan bed covers? Then do some online research to see what’s selling.
You can make it once and sell it repeatedly to different people without restocking inventory or talking with suppliers. If you consider yourself an expert on a particular topic, you can package that information up and sell it in the form of a one-time fee or subscription. Sell photography Business opportunities like selling photography are common.
Becoming a self-published author is one of the best small business opportunities for you. Self-publishing just means that you don’t work with an established publisher to manage the editing, design, and production processes of making a book. Instead, you do it on your own. With no real shortage of readers on the internet, there’s plenty of space for you to make and sell an ebook or audiobook and turn a profit.