6 Profitable Businesses to Start This Summer
The SBA reports that there are 31.7 million small businesses in the US. Did you know that small businesses make up 44% of the nation’s economy? On average, a new small business owner with less than 5 years of experience earns about $49,000 on average (including bonuses, tips and overtime). A small business owner with 5 to 10 years of experience earns an average of $70,000 per year. Do you want to become an entrepreneur or find a home-based business but you're not sure where to start? A profitable business is one that generates enough revenue to cover all the expenses, costs, and taxes, and leaves some to feed your pockets. Here's a list of 6 business ideas that you can use to make money!
1. Pressure Washing Business
Let’s start with a business with low start up costs. The pressure washing business ranks high among the most profitable small business in the US.
2. Painting Contractor Business
The house painting business is a billion-dollar industry, and the average pay for a painting contractor is $41k per year. If you’re a hands-on, DIY type of guy, it can be gratifying to start your own contracting business. Since painting is time and labor-intensive, many homeowners are looking to outsource the job to a professional painter.
3. Moving Business
People move to different locations all the time, and they need help when moving. You need a van or truck, moving equipment, insurance, and the correct permits to start a moving business.
4. Dog Groomer
If you are good with dogs, you can start a dog grooming business. You will need clippers, shears, bathtubs, shampoos, conditioners, blowers and dryers. In 2019, the United States pet industry boasted a total revenue of $9 billion. Many American households own at least one pet. With dogs being man’s best friend, owners spend a generous amount of money on their grooming, daycare, boarding, etc.
5. Real Estate
Real estate is broad. You can become a property manager, and make sure your clients’ properties run smoothly. From managing improvements and repairs to collecting rental checks, you can make a decent income with relatively little work on your part. Being a real estate agent is another way you can start a small business. Whether people prefer renting or buying a place to live or running a business, your services will come in handy. With time, you can grow to invest in rental property. I did it, and you can do it too. You will need a down payment of 10-20 percent of the property’s value from your own pockets and use a bank or private lender to finance the rest.
6. Become an SEO Expert
Many sites get most of their traffic from search engine results, and this has given rise to a demand for SEO specialists. Unfortunately for businesses and fortunately for you, most individuals that operate in this market have no idea what they’re doing.
