Seven of the Most Profitable Small Business Types

While many small business owners start their own business in an area they’re passionate about, every business owner wants to make a profit. It’s only natural that certain industries have a higher profit margin than others, so knowing which ones tend to make more money might help you decide your next business venture. Read on to learn about seven of the most profitable small business types.

1. Accounting, Booking, Tax Preparation, Payroll Services – Net Profit Margin: 18.4%

Everyone needs an accountant even when the economy isn’t doing well. These types of businesses often have repeat clients and low overhead.

2. Management of Enterprises and Companies – Net Profit Margin: 15.5%

Holding companies that are small and privately-owned can make a big profit. While there are larger companies like Berkshire Hathaway, there are also plenty of small businesses in this industry.

3. Real Estate Agents and Brokers – Net Profit Margin: 15.2%

Real estate is dependent on the economy, but people will always be looking for new homes. These businesses have low operating costs. You don’t generally need to pay employees as they work on a commission basis.

4. Automotive Equipment Rentals – Net Profit Margin: 14.6%

A small rental car business can be quite profitable as you can keep rental prices a bit lower than major companies do.

5. Legal Services – Net Profit Margin: 14.5%

We all know that lawyers aren’t cheap to hire. Operating costs are generally low and there are plenty of repeat clients. This category also includes notaries, settlement, officers, and title search agents.

6. Dental Offices – Net Profit Margin: 14.4%

Dentists have recurring patients like doctors do. Starting up a dental office is expensive but you’ll make that money back quickly.

7. Electric Power Generation, Distribution, and Transmission – Net Profit Margin: 14%

While many electric power companies are not considered small businesses, there are some smaller ones that deal in fossil fuels in addition to solar, nuclear, and other forms of electricity.

For more information on how to use signs to advertise your business, contact Olympic Signs at 630-413-1198.

Categories: Small Business, Business

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