What Kind Of Small Business Is Most Profitable – In the best of years, 20 percent of small businesses fail in the first year and 50 percent fail within five years.
And let’s face it: Starting a business in 2022 isn’t exactly as straightforward as it used to be. These days, we must reckon with COVID-19, the resulting economic downturn, and a turbulent political landscape.
What Kind Of Small Business Is Most Profitable
Still, just because the world is a little crazy right now doesn’t mean you can’t start a successful business.
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There is an old Chinese proverb that says: “When the winds of change blow, some people build walls, others build windmills.”
In this strategy guide, you’ll learn about 15 of the most profitable small businesses to open in 2022, along with tips on why they might be a good bet.
With much of the world isolating at home and actively avoiding stores and malls, it’s no wonder e-commerce is on the rise.
For example, you can use the Shopify platform to create an eCommerce website in minutes; sign up for the free trial to get started.
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You can also use Handshake to get products from some of the best handpicked and verified wholesale suppliers in the US.
If you don’t have the money to buy wholesale inventory up front to sell online, don’t worry. You can always start a dropshipping eCommerce business.
With this small business idea, you can create an online store, add products, and then start marketing them online to get sales.
Then, every time you get a sale, the order will automatically be sent to your supplier, who will ship the product to your customer for you, and you will receive your share of the sale.
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However, dropshipping must be quite complicated to set up, right? No. With a dropshipping tool like Oberlo, you can be up and running in a matter of minutes.
Once you’ve set up your account, you can start looking for products to sell. For example, you may decide to open a back-to-school store so you can take advantage of the surge of schools opening after a long period of closure.
One of the downsides of dropshipping is that you can’t brand the products and packaging you sell. This can make it a bit more difficult to differentiate yourself from other online sellers.
Print-on-demand works the same way as drop shipping, except, you guessed it, your supplier will print your designs on the products of your choice before shipping them to your customers.
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You can sell all kinds of products such as clothing, housewares, jewelry, beachwear accessories, and more. Check out some ideas from Printful’s print-on-demand service:
Once again, it’s easy to get this small business idea off the ground. Just sign up for Shopify and install a print-on-demand app, like Printify, Printful, or teelaunch.
Previously, many coffee shops have closed their doors for good or been reduced to curbside lines.
In fact, coffee market research group Allegra World Coffee Portal reports that COVID-19 has killed 24 percent of the total value of the US coffee shop market in the past year.
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No wonder many people have decided to take their daily dose of caffeine into their own hands and have their coffee delivered.
The result? Coffee subscription services could be one of the most profitable small businesses to own in 2022.
So how can you keep sales flowing so your stock doesn’t skyrocket? Take a look at a Shopify dropshipping app called Dripshipper. This little app allows you to sell fresh coffee directly shipped online under your own brand name. (Prefer to sell without showing? Browse our collection of foodies’ dreams for high-quality coffee products from other brands.)
Also, many people have started keeping chickens and growing their own vegetables and fruits to guard against potential food shortages.
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Seed provider and Shopify user Hudson Valley Seed Co. saw a surge in demand for online orders due to COVID-19. Jack Whettam, sales manager for Hudson Valley Seed Co., said:
“The biggest increase in interest came from people taking food safety into their own hands, mostly first-time gardening customers. Typically, we see vegetable and flower sales split fairly evenly, although right now, we’ve seen much greater interest in vegetable seeds, especially the high-calorie types like potatoes, corn, beans and squash.
So why not start a garden supply business? There are countless garden products in Oberlo that you could sell.
Additionally, gardening and lawn care could be among the most profitable small businesses to start in 2022.
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Although many people spend more time in their gardens, not everyone has the time or inclination to do the work themselves. So, if you prefer to work with your hands, consider starting a gardening and yard care business.
This can also be a safe bet. A 2020 report on the US landscaping market found that not only is the industry growing, but there is also more demand for landscape and yard maintenance workers than supply.
It should come as no surprise that furniture supplies has also seen an increase in demand due to COVID-19 and is one of the most profitable small businesses right now.
“The home furnishings business, which for decades had been relegated to travel, entertainment and other segments of the economy that rely heavily on consumers with disposable income, unexpectedly moved into the driver’s seat in 2020. Since June Record-breaking 2020 months off have been the norm for furniture manufacturers and retailers alike.”
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In other words, when you’re stuck at home and can’t spend your vacation money, why not buy a new sofa, bed, or home office?
So whether you open a local store that sells vintage pieces or ship furniture online, you could start a furniture business to take advantage of increased demand.
COVID-19 lockdown measures and the economic downturn have forced many small businesses to close their doors and move their operations online.
However, many small business owners do not have the skills or knowledge to successfully expand their business online and need someone to help them.
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You don’t need to be an expert either. If you’re interested, there are many free online courses you can use to learn web design.
When you’re ready, you can find web development jobs on platforms like Gun.io, Stack Overflow, or GitHub Jobs.
Also, there are over a million businesses that use Shopify and need your help to optimize their online store and increase sales. See the Shopify Partner Program for more information.
Many businesses also need help with digital marketing; After all, there’s no use in having a beautiful website if it doesn’t generate sales, right?
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Online advertising could be one of the most profitable small businesses. If you’re interested in playing around with analytics and copywriting, consider starting an online advertising service.
Again, you can learn more about digital marketing in free online courses, like those on Shopify Compass.
Similarly, with millions of people social distancing, our social lives seem to be increasingly dependent on social media platforms. As a result, networks like Facebook, Instagram, Twitter and TikTok are
So perhaps social media management could be one of the most profitable small businesses to start in 2022.
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If you’re a fan of social media, you could start a social media management service to help small businesses increase their online sales. You can also provide influencer marketing services to help businesses promote their products and services to specific audiences.
Check out some free online courses to learn the ropes; For example, you could start with Oberlo’s Instagram course.
Then check out some great online social media tools to help you manage your client workload, like:
Consider using a platform like Freelancer, Fiverr, or Upwork to find clients, or join the Shopify Partner program.
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Professional cleaning services are in more demand than ever, with families and businesses desperate to prevent the spread of COVID-19 under their roof.
In fact, according to a US market report, the professional cleaning services market is expected to grow significantly between 2021 and 2026. Therefore, cleaning services can be one of the most profitable small businesses around.
Consider targeting small local businesses to clean offices, restaurants, cafes, and shops. There are many great YouTube tutorials that you can use to learn more.
You could also create an eCommerce store to start selling soap, sanitary products, and cleaning supplies. Check out the wholesale cleaning products available at Handshake for ideas.
Most Profitable Small Business Ideas In 2022
Starting a business can be incredibly challenging; remember, half of all small businesses fail within five years. So it makes sense to choose the most profitable small business idea you can to give yourself the best chance of success.
Ultimately, there is no clear answer. However, we can consider the winds of change in the world right now, think strategically, and review some research to come to some conclusions.
Take some time to dig into each of these highly profitable small business ideas to find out if one of them feels right for you!
Thomas is a B2B content marketing consultant and writer specializing in SaaS, eCommerce, and digital marketing. To learn more about how Thomas can help you achieve his goals, visit his website at tomjlaw.com.
Best Small Business Ideas To Start In 2023
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