So, you want to start a small business huh?
Is There Such A Thing As The “Most Profitable Small Businesses”?
First thing to understand when looking to find what are the most profitable small businesses is that there are hundreds of variables which affect small business profits. The skills and work ethic of the business owners, the employees, the location, the start-up cost, operating costs, applicable regulations and fees (if any) with resulting legal costs and many other things.
Even the same business.. same model/franchise, for example, run by different people will show very different profits.
In the end, once you’ve found something that you think is right for you, the only way to know for sure is to jump in and work at it and see what you can make of it.
One of the main things to consider when considering what would be the most profitable small business in present day is whether you wish to have a home-based business or a traditional business with inventory and a physical location outside of the home. Obviously the traditional model will have more operating costs than something like an online business since you will need office space and/or equipment and various other things such as remodeling expenses or stock costs.
People are starting home internet businesses by the tens of thousands per week right now and the main reason for this is the low start-up costs when compared to traditional models. There are also many online business models which allow one to get started with no inventory or advance product purchase of any kind.
One of the big barriers for people who want to start a small business is they don’t have a product or perhaps not even any special skill with which to create one. Online marketing can be a good option for people in this boat because there are many affiliate product companies that will pay high commissions for simply selling their products. All one has to do is promote and close sales, but they still retain full control of their own business and are still their own boss.
And certainly many people suffer from technical barriers when it comes to using a communication medium such as the internet. There is much to be learned in the ways of internet selling and promotion and there can be a significant learning curve involved with such a thing.
Probably it is impossible to determine ahead of time with certainty what actually are the most profitable small businesses however there may be some things that we can all agree on in terms of how to go about looking at the subject.
I’ve been running businesses since 1998 and I can tell you that the home-business route is far simpler, far faster, and far less expensive to run. Even with employees working in a basement office (even if you have to remodel) is far more affordable and profitable.
What would be the qualities of the Most Profitable Small Businesses?
The most profitable small businesses obviously would be the ones with the lowest operating cost and the highest returns.
Here are some points that I would note about my own home internet businesses:
No employees to pay.
No inventories to stock.
No additional office space costs.
No manufacturing facilities.
No rigid work schedule.
No complex legal issues.
No fighting traffic.
No Workers Comp, Unemployment or any other of the bureaucratic crap to deal with.
No one to answer to but myself.
No one to blame but myself when my income is down.
No one to praise but myself when my income is up.
Can you tell I’m a fan of the home-based style of business?
Yeah, I’ve done it both ways and I’ve found that I am able to generate more profit in far less time doing it online from home whereas with the more traditional office-space type of deal I spent so much time baby-sitting adults and dealing with “he-said, she-said” and doing paperwork just to comply or keep up with my staff and such that I ended up spending more time just dealing with space and personnel each week than I spend working each week now altogether.
Call me picky, but I started a business to make money and to do something that I enjoyed all day long, not to inherit a bunch more “have-to”s.
The Most Profitable Small Businesses Are About More Than Just Money
You have to consider what you will actually being doing each minute of your work-day as well, when you are trying to establish what are the most profitable small businesses for you. Remember, time and enjoyment are a sort of currency too. There is no point in doing it if you are going to be miserable all day long and unhappy with what you are doing, and certainly if you don’t like doing it, you aren’t going to be very good at it.
For myself the most profitable small businesses are the ones that allow me the most free time and least headaches while providing for all my financial needs and giving me fun games to play and cool people to socialize with on a daily basis. There are millions upon millions of people in this country that waste their life away, being miserable, dragging themselves to work each day under some false idea that that is the thing to do. There are also many people who’ve had enough of that routine and would rather be broke and love what they do.
I’d tend to lean in the direction of making good money doing something that I enjoy.
The most profitable small businesses for you may not be at all what myself or any other would consider profitable. I can tell you that I’ve been in situations where I made tons of money and would have been considered “rich”, and I was very “proud” of myself, however, I worked 90 hours per week and didn’t even have time to go out and spend the money I was making. And then when I did find the time I went out an blew it on useless crap like cars and leather jackets and nice suits and custom furniture and so forth.
And one day I was sitting in my home on my new couch and watching my large-screen TV and my living room looked very nice and I had 500+ channels to choose from and it dawned on me… “Okay… now what?!”.
Big freaking’ deal.
Money only gets you so much. Once all your needs are met the rest is just waste. You may just find out one day that having a bunch of money while not helping others in any way isn’t very satisfying. I know I did. Did you ever notice that some of the most miserable, most drug-addicted people in the world are wealthy?
Well, that was years ago.
Now I have managed to position myself to where I can work with my church 3 days per week and be the type of Dad I always wanted and I spent about 15 hours per week socializing with cool people in order to pay the bills. That is profit in my book.
The most profitable small businesses would be ones that allow you freedom to be and do where and what you want.
The most profitable small businesses can’t be determined simply by income alone. Human beings are too complex for that.
In the last few years I have been offering help to people who desire to start their own small business. The world of internet business marketing and promotion can be very complex and confusing for people just starting out. I provide much in the way of free resources to assist folks with this transition.
While I have various home businesses there is one particular business at this time that I recommend to those people who are just starting out, or who have simply been failing at the working-from-home-online thing. The reasons that I recommend this one business over any other at this time is because it practically eliminates the technical barriers to starting an internet business, it allows one to get started making money quickly, it pays high commissions (100%) without your having to create a product, it converts well from lead to sale, and it provides significant residual income.
I try not to get involved in anything these days unless it provides residual income. I like to do things once and get paid over and over from it. How about you.
This may or may not be one of the most profitable small businesses for you. That would depend on you, however you can review what I find to by my most profitable small businesses currently by simply subscribing to the contact form on the right side of this page. Once you subscribe you will be taken to a lesson where I will cover what are the only two things you should be focusing on in order to efficiently and successfully build home internet business, along with over $700 worth of lessons covering many aspects of how to create a booming home internet business. Or you can subscribe directly here to review this business now.
Income is good. Fun is good. Freedom is good. You can have all 3, if you find the right opportunity and you apply yourself. And I just may be able to help you realize your goal.
Subscribe above now to see for yourself.