5 Most Successful Small Business Ideas

3. Dropshipping

Insider Monkey Score: 4

Industry Net Margin: -0.05%

Dropshipping is a popular form of retail business that is ranked among the most successful small business ideas. This form of retail business is where the seller and customer exchange orders without the seller having to keep inventory. This form of retail business saves storage costs for a seller increasing profit margins for a business. According to a report by Grandview Research, the global dropshipping market was valued at $225.99 billion in 2022. The global dropshipping market is expected to grow to $1.25 trillion by 2030 at a compound annual growth rate (CAGR) of 23.4%. Dropshipping falls under the online retail industry. While the industry reported a negative net margin, the most successful businesses lie within this industry, therefore, we included it in our list as a top-ranked business idea.