The first-time teen entrepreneurs are trying to find out what are the most profitable small businesses. That piece of information could help them to make better ideas for their future.
It’s true that the development of Internet technology brought a lot of business opportunities. However, not all of them are equally good.
Teenagers usually think that online businesses are the most profitable businesses to start. But, that is not completely true. The competition in the online business world is tough which makes the “offline market” more attractive.
You can often hear that a young person gave up from running his own business just because he can’t find a good idea. The first steps in the business world really are the most difficult ones. That’s why we want to provide you with the list of the most profitable small businesses.
Most Profitable Small Businesses
The list is actually quite long. It could be longer, but we want to focus on a few of them that are the most perspective and popular. So, the most profitable businesses to start are:
- Online Courses
- Handyman
- IT Support
- Web Design
- Logo Design
- Personal Training
- Social Media Consulting
- Copywriting/Content Writing
- Translating
- Cleaning Services
- Courier Services
- Pet Handling Services
- Party Services
- Vacation Rentals
- Photographer
Let’s explain one by one.
Online Courses
Do you possess any kind of knowledge that would be useful for others?
Everyone tends to improve his knowledge and experience on a daily basis. Running an online course in English could bring you customers from all over the world.
The category of your courses is not important. Your courses can be about digital marketing, real estate or auto mechanics. Something that matters is that you really share valuable pieces of information. That is the only method that will allow you to expand your business.
Handyman
Changing a light bulb is quite difficult for the majority of people. Because of that, handymen business definitely is the most profitable business to start.
The biggest advantage is that you can have multiple clients. Your hourly rate depends on your knowledge. If you really are an expert, you can charge around $100 per hour.
P.S. Sometimes you will have to work for free or to offer a discount. That will help you to make good relationships with your customers.
IT Support
IT sector is definitely the most perspective industry. However, that also means it is the most competitive. Still, it is hard to find a programmer that is unsatisfied with his income.
There is always a need for new apps or programs on the market. Almost every company needs a business partner from this industry. Because of that, IT support deserves to be on a list of most profitable small businesses.
Web Design
Every small and medium-sized business needs a website, right? Except that, there are many individuals that are running their personal blog. That is the opportunity you should use.
The first thing that every visitor will notice is the design of the website. If he likes what he sees, there is a big chance he will continue to read the content. This is the main reason why the demand for a good web designer is growing.
If you are only creative, but you don’t know how to design a website – that is not a big problem. You can find many tutorials on YouTube that will help you to improve your web design skills.
Logo Design
We can connect logo and web designing. When a new startup asks for a web designer, they usually look for the graphic designer as well. You will have to be familiar with designing programs such as Photoshop and Adobe Illustrator.
Personal Training
Every third person in this world is unsatisfied with his look. You won’t have to worry about the demand of potential customers. The demand definitely exists!
Do you know how to motivate people to exercise? Are you capable to make them look nice? Then this really is one of the most profitable small businesses for you! If your passion can bring you profit, you are really a happy person.
Social Media Consulting
It’s not a secret that social media became part of our everyday life. For instance, only Facebook has 500 million daily active users. So, why wouldn’t a teenager that spends hours on his mobile use that opportunity?
Social media consulting definitely deserve to be on the list of most profitable small businesses. Startups are using social media channels to reach their audience and to offer their products. They are ready to pay a lot for that service.
As we said, the first steps are the toughest ones. Start with offering this service for free. It is good to fulfill your portfolio with some amazing results that you reached before.
Copywriting/Content Writing
Are you capable to create art with words? Do you know how to keep the reader’s attention until the last word of the text? If the answer is “yes” on both questions, then copywriting really is the most profitable business to start!
We need to be honest and say that the human eye is quite ungrateful. We usually skip the part of the text that looks boring. Except that, people do not like to read. They usually skip the post that is longer than 200 words.
This job can be difficult, but because of that, people are ready to pay a lot. For example, content writers usually charge $150 per 500-word article. Writing 2 of them daily would bring you $9000 on a monthly basis.
This is a large amount of money for a teenager, right? Well, there is a reason why we said that copywriting is one of the most profitable small businesses.
Translating
Learning languages can be quite fun. It is quite important for a good education and works to know at least conversational English. Yet, being an English teacher is not the only way to earn some profit.
The US market is a place full of opportunities for entrepreneurs all over the globe. For example, startups from France, Spain, and Italy are trying to offer their products to people from America.
Native English speakers can always help them to make content without any grammar or spelling mistakes. You don’t have to be a copywriter; being a proofreader will also bring you a large amount of money.
Every young person is capable to do that. This business doesn’t require you to be a good marketer. If you have a good sense for the English language in general – that would be enough.
Cleaning Services
Who says that only online businesses are the most profitable small businesses? There are services that you could provide offline to absolutely every person in your neighborhood.
The good thing is that you don’t need much to start this sort of business. Invest some money to buy some high-quality cleaning products and equipment. Make a Facebook page to promote your service to customers.
If you are willing to invest a little more, hire a web designer. Make an attractive and engaging website that will clearly explain who you are.
Courier Services
Who would say that this can be the most profitable business to start? You probably don’t know many couriers, but that is actually the main advantage of this field. Again, you don’t have to invest millions of dollars to run this sort of business.
Of course, in the beginning, you will start small. Your only tasks would be to transport small packages from one place to another. Those packages are small, and using a bike would be enough.
The next move would be to contact large trading companies such as Amazon and eBay. If you succeed to sign a contract with them, that will bring you a large amount of money.
Couriers usually don’t stop there. After they establish the right connections with the right people, they become completely independent. The point is, there is enough room for improvement.
Pet Handling Services
If you love dogs and cats, and you know how to take care of them, your business is going to be quite funny. You will never feel tired, and doing what you love is the point of entrepreneurship.
Most people regard their cats, dogs, and other pets as family members. However, everyday duties sometimes don’t allow us to take care of them properly. That’s why pet handling services are one of the most profitable businesses to start.
Teenagers that have large yards can keep the pets while their owners are on a trip. Your earnings will depend on how long they are away. Don’t forget to include food expenses in your price.
Along with pet keeping, there are additional services you could offer. For example, dog walking, grooming, and training can bring you some extra profit. Dog walkers usually charge $20 dollars for a 20-minute walk. That would be $60 per hour for only one client.
Party Services
Teenagers are surrounded by young people that are ready to party at least once per week. If a teen has the last $50 dollars in his pocket, he will spend them on parties. We don’t want to say that this is good, but it is definitely a good business opportunity.
Contact club owners and describe to them why they should hire you. Our suggestion is to cooperate with a few clubs with a different type of music. That will satisfy everyone.
Your earnings will depend on how much the customers are spending. In most cases, owners will offer you 15% of the profit. This is maybe not a long-term solution that will bring you wealth. However, for the next 5 years, it can bring you a large amount of money.
Vacation Rentals
Someone would say – “Hey, but I only have 1 house, how should I rent it?” One house or one apartment would be enough. If your hometown is a tourist attraction, then you are a really lucky teenager.
Believe it or not, you can make some extra cash by renting out a spare room. People will often rent a room for a few days. That means you will charge a bit more than usual.
P.S. Of course, you will always be able to rent an apartment on a monthly basis. But, in this way, you will be able to charge more.
Photographer
The social media became an important part of our everyday. There are probably millions of new selfies on a daily basis. Imagine that you charge $5 for each picture that you make. That’s a large amount of money, right?
Everyday pictures are not the main source of your earnings. People are contacting photographers for various events, such as weddings, birthdays, etc.
Don’t hesitate to start for free. A good portfolio is necessary if you want to become successful in this field.
Equipment is not cheap, that’s true. Professional cameras cost around 800 dollars on average. But, this is going to be a good investment. That camera will serve you for at least 5 years. For that period of time, you will make a lot more than 800 dollars.
Final Thought – Don’t Chase the Money!
We hope that our list of the most profitable small businesses is going to help you make the right decisions. Still, there are a few things we want to say before we end this article.
The majority of teen entrepreneurs only think about money. They imagine that they will become millionaires with expensive houses and cars. Maybe you will succeed to do that, but chasing the money is a wrong method.
Just because some businesses are perspective and profitable, that doesn’t mean you are going to make a lot of money. For instance, if you don’t like pets, why would you try to make money with pet services? That is not logical.
The first question that you need to ask yourself is – “Why am I starting this business?” After that, you need to determine what exactly you love.
So, why is it important to love your business?
Becoming a successful entrepreneur is difficult. Your road to the top will be full of ups and downs. Your business needs to be your passion if you want to stay motivated until the end.
