If you want to develop a business, and you lack ideas, check out our list of most profitable small businesses to start in 2017!
Small business is considered to be a privately owned company with a fewer number of employees than a regular one. The number varies depending on the country. In Australia, small business is considered if it has around fifteen employees, in the European Union around fifty and in the US fewer than five hundred. They are very popular all over the world, but they are shown especially productive in America and let’s see why!
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From the statistics of U.S. Small Business Administration, Office of Advocacy, small businesses are in constant growth. Since 1982 they increased by 49%, and from 1990, while big businesses eliminated 4 million jobs, small ones created 8 million new jobs. In 2016 there were 28.8 million in the US, which makes it 99.7% of the US businesses in total. Moreover, 97.7%, or in numbers 297,343, of goods in America were exported thanks to small firms. They generated 33.6% of the total export value in this country. And that’s not the best news! If you are looking to work in one of these small businesses, you will find exciting to know that they employed 56.8 million people in 2013, which makes it 48% of the total private workforce. Furthermore, employment rates rose in 2015 by 2.2%, and in 2016 they were still in progress. They are basically unstoppable!
What is interesting for the small businesses in America is that the highest percentage of ownership goes to the Hispanic demographic group with 46.3%. Next are Hawaiian/Pacific Islander owners with 45.3%. Then, African-Americans own around 34.5%, whereas Asians have 23.8% of small businesses. As there is a real balance between different nationality groups in this branch, we wondered whether there is a rational proportion in sexes as well. Apparently, the percentage of males that work in small firms is 11.5%, whereas of females is 7.2%. Very close to female percentage are minority groups with 7.1% of employment. These numbers are collected from American Community Survey.
So, what are you waiting for? It is a perfect time to start your own business! Before you do, it will be helpful to know also which banks in America offer the best rates for loans, online services or so-called e-banking, free business checking accounts, as well as premium account services, especially for small businesses. After browsing the Internet for a while we found out that top three banks in America are Bank of American Corporation, Wells Fargo, and American Express Bank FSB.
Even though there are many signs of progressing within small businesses, it isn’t however, the easiest thing to manage. The challenges that this type of business is facing differ from one country to another. In America, the biggest problem they have is with insurance costs and taxes, as they are very high, whereas in, for example, Australia and the United Kingdom, owners of small companies are concerned mostly with excessive governmental red tape- rigid conformity to formal rules. According to Forbes, 7 out of 10 new employer firms survive up to 2 years, five up to 5 years, a third at least 10 years and a quarter for almost 15 years or even more.
Now, with this information, you are half ready to create your own small business. The last thing you need to know is which ones are the most profitable to start. To create our following list of most profitable small businesses to start in 2017, we researched many sources such as Entrepreneur, Forbes, and US Small Business Administration, in order to see the most frequent suggestions. We chose 15 small businesses ideas, and for each of them, we mention the current average rates other firms are charging in those branches. There are five suggestions for the rate of $15+, five for the rate of $25+ and last five ideas for $50+. If you are interested in a similar type of research for the previous year, check out 10 Most Profitable Businesses To Start in 2015. And now, let’s see the list of most profitable small businesses to start in 2017.
15. Children’s Party Service
Rate: $15+
According to The International Association of Amusement Parks and Attractions reports, the average revenue for a kid’s birthday party goes up to $370! Have you ever thought of spending that much money on your children’s party? Even if you haven’t, you should think about creating a business out of it, as many parents don’t hesitate in celebrating their children’s birthday in a big way. They need an organizer for food, drinks, games and that is exactly what children’s party service could offer.
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14. Bakery for Cupcakes
Rate: $15+
All over the world, people got crazy over cupcakes! Big cakes are not in fashion anymore. Moreover, smallness, simplicity and cuteness is something that is valued, when we talk about food. With developing a small business for small cupcakes, you can never go wrong.
13. Pet sitting
Rate: $15+
We are obviously in an era where people don’t think that much about having children, but they are obsessed with having all kinds of pets. In addition, babysitters are not IN anymore, instead what everybody needs is a pet sitter. So when pet owners go to work, or have a longer vacation, somebody has to take care of their pets. This could be a perfect, new business idea.
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12. Floral Designer
Rate: $15+
Valentine’s day, Mother’s day or any other celebration usually includes flowers as a gift. However, even though there are a lot of flower shops, there is a very small number of flower designers! The target clients for this small business will definitely be men. They would be glad to hear that they can hire a person to choose and arrange flowers instead of them.
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11. Commercial Cleaning
Rate: $15+ under 10
We are continuing our list of most profitable small businesses to start in 2017 with commercial cleaning that is the same thing as residential cleaning but on a larger scale and with more choice of offered services. They generate billions in sales per year, which makes them very popular small business. Prices per hour go from $20 to $30, depending on the firm.
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10. Bicycle Repair Service
Rate: $25+ 10
The booming thing today are definitely bicycles! With all the talks about environmental sustainability and saving the Earth, bicycles tend to replace the use of cars. Their use is increasing in most of the cities, as a healthier way of life. Therefore, its repair service is something essential and inevitable.
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9. Rubbish Removal
Rate: $25+
You can never have enough rubbish removals, wherever you live. This is the cheapest business to start as you need shovels, rakes, few garbage cans or affordable truck, and that’s it – business can start! You can earn per hour, day or weeks, depending what suits you best. Usual prices per hour are from $25 to $40.
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8. Pet Photography
Rate: $25+
As mentioned above, people tend to care about their pets a lot more today than ever before. So much they would even pay for a professional pet photographer that ranks 8th on our list of most profitable small businesses to start in 2017! However, in order to be a good one, you should also know how to calm the animals and make them look good on the photos.
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7. Green Business Consultant
Rate: $25+
For businessmen to change their company’s politics and go green, there are many things to do. Therefore, a consultant, the number 7 on our list of most profitable small businesses to start in 2017 would come in handy just perfect. Having in mind that most of the companies go trough this type of change, it is one of the top small businesses to start not just in 2017, but in any year in future.
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6. Freelance Photography
Rate: $25+
As many businesses are becoming online, which means they need a website, Facebook and Instagram page, among others, the necessity of images is on the rise. On the other hand, people who are talented in this field, have a bigger opportunity in earning money as they can post their images on daily a basis. So, freelance photographer tends to be a good choice for business!
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5. Marketing Consultant
Rate: $50+
You cannot have any business without a marketing strategy. And you cannot have a marketing strategy without the marketing consultant that ranks 5th on our list of most profitable small businesses to start in 2017! That person will take care of your marketing plans, budgets, recruitment of people, advertising and basically anything you need to develop and maintain your business.
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4. Image Consultant
Rate: $50+
Believe it or not, people want to hire someone to tell them if they look good or not in pictures! Depending on which photography you need – the one for the interview, family portrait or any other kind, image consultant could help you to make the best choice. Nowadays, as images are very popular on the Internet, this type of business is definitely going to bloom. And now, let’s see the top three on our list of most profitable small businesses to start in 2017.
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3. Business Plan Service
Rate: $50+
Results from a survey in U.S. showed that only 33% of small businesses have a formal business plan. In addition, as there are more than 28 million small businesses in America, development of a business plan service cannot be a mistake!
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2. Import/Export Specialist
Rate: $50+
With globalization and growth of interdependence between countries, import/export specialist is a brilliant idea for the business. There is always so many problems in this field, and people in business usually don’t know who to talk to. Well, with the creation of this type of firm, all the questions could be answered!
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1. App developer
Rate: $50+
Finally, the top of our list of most profitable small businesses to start in 2017 is, of course, IT related. Even though it is becoming one of the top job branches, it will always need more employees. On a monthly basis, iTunes App Store adds around 30,000 new apps! What is important while starting this business of app developer is the idea for the app with strong marketing strategy, and you can’t go wrong.
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