If you have finally decided to start your own business, but you are still searching for ideas, check out these 25 most profitable small businesses to start in 2017.
It seems like everyone is starting their own business lately and you decided to give it a go too. Small businesses became a trend that is spreading faster than ever. Usually, a small business is run by a small number of people, often several individuals or in some cases, just one (if you are starting a business from home for example). According to U.S. Small Business Administration, a small business is an independent business with fewer than 500 employees, and their statistics state that small businesses accounted for 63% of net new jobs.
So, it’s clear that the future lies in small businesses and everyone’s been talking about it. However, starting a small business is not a way to get rich overnight. In fact, it will probably take you years to start earning significant amounts of money. It takes dedication, patience as well as hard work to survive in the small business world. But it brings a more flexible lifestyle that you can manage according to your own preference.
A great number of small businesses are home-based ones that you can start on your own with minimal investment and gradually turn it into something a little bit bigger. There really are countless profitable business ideas from home that you can consider if you think that it’s the time to quit your dull old 9 to 5 job and get on your feet. Speaking of home business, we wrote about most profitable businesses to start from home in 2016 so make sure to take a look at it.
The most important factors to consider when thinking about the best business to start to include projected industry growth and potential earnings. As most people, you are probably starting with little capital and looking for ways to earn without having to invest huge amounts of money. So, basically, you’re looking for low investment high profit business ideas that are likely to remain a trend in the following period. If you are a beginner without any experience in running a business, the key is to do a thorough research and check out dozens of lists of most profitable small businesses.
If you take the time to create a great business plan and really think things through, your small business may live to see the next 5, 10, 15 years or even longer. You should invest enough time to analyze the most profitable industries the next three years and try to find your place in one of them. You should also check out the article we wrote about most profitable small businesses to start in 2016, and to compare it with our today’s list, to see if there are any changes.
As for the list below, we compiled it after doing extensive research and using various sources such as The Balance, Multiple Streams and Entrepreneur‘s list from 2016 to make sure that suggestions on our list are proven successful over the years. We searched for the most profitable small businesses, and we ranked them according to the number of times they were mentioned. Those small businesses that were mentioned the most are on the top of the list. When the number of mentions was the same, they were listed according to their net profit margin. Also, we included data on the average pricing for some of the businesses on the list, as well as some success stories that will give you much-needed confidence is you are planning to embark on new ventures in the future.
So, check out our 25 most profitable small businesses to start in 2017.