According to our research some of the most successful small businesses you can start up today are in the professional business services category. These businesses offer financial and management services to consumers and other small businesses (B2b) like accounting, legal services, payroll services, property management, and insurance products. These types of small businesses can be very profitable because they generally don’t have a lot of high over head expenses including a large payroll and equipment expenses which at the end of the day can help the bottom line. These businesses also offer the types of small business services that have the ability to generate residual income which is always welcome as a way to maintain a more predictable cash flow.
As you probably have heard Internet related or web based businesses also have the right ingredients to be very successful and profitable small businesses to start for a number of reasons. This includes generally low start up and operating costs (it can cost less than $50 a year to host a website), vast market potential, scalability, and healthy profit margins on many services like advertising and membership subscriptions.
Another very profitable and successful small business category today is health care and medical related services such as dental services, medical practices, medical testing labs, chiropractic services, physical therapy, and other out- patient related services. These types of businesses also generally enjoy very high profit margins and are considered recession proof or resistant because demand keeps rising in good times or bad. They are also well positioned to benefit from our large and rapidly growing population of seniors and the elderly.