What are the Most Successful Small Businesses?

Posted February 8, 2019 by LA Scene in News

Most Successful Small Businesses

Owning a business is a huge risk, which is why you want to make sure you’re into something that has a good chance of survival. If you’re considering going into business during 2019 you want to familiarize yourself with the most successful small business and decide which type is a good fit for you.

Accounting and Tax Service Businesses

Accounting and tax service businesses rarely go out of business, primarily because the demand outweighs the supply. Despite the fact that there a great deal of financial software is available to help the average person manage their finances, most people still prefer to go to a professional.

The first thing you must consider before opening an accounting and tax service business is exactly what type of services you’ll be providing and if you’re qualified to provide them. Don’t assume that a lack of qualifications prevents you from starting an accounting and tax service business. Even if you’re not qualified, you can hire individuals who are. They’ll work with clients, while you manage the business.

A good accounting and tax service business can regularly earn 18.4% net profit.

Farrier Business

If you like horses and are willing to take on a physically demanding job, you should consider starting a farrier business. The area you’re in plays a role in how much you can charge clients, with many farriers reporting that they charge anywhere from $20-$200 per horse. That means a good farrier who does just 10 horses a day can earn $2,000 in a single day.

The downside to running a farrier business is that the work is hard, you spend a great deal of time on the road, and that you should attend a farrier school before you start offering professional farrier services.

Real Estate Business

Whether you sell real estate yourself or you simply manage a bunch of real estate agents, you can make a decent amount of money by opening a real estate company. The amount of overhead connected to the agency isn’t extremely high, and they make a commission from every sale. The average real estate agent can earn between $39,000 and $54,000 annually. The problem with opening a real estate agency is that a recession and sudden drop in the housing marketing takes a toll on the agency’s net profits.

Franchise Opportunities

There are currently thousands of franchise opportunities. These opportunities are typically considered more secure than other business options which is why franchises are routinely the most successful businesses. Taking advantage of a franchise opportunity involves paying franchise fees as well as the cost of setting up a location. While the initial investment is high, most people see a fairly quick return on their investment and enjoy the experience so much they purchase even more locations. 30% of all franchise owners report that they routinely make more than $150,000 annually.

Pet Grooming Business

Love pets? Do you know how to make them look their very best? If so you should consider that pet grooming businesses are some of the most successful businesses. Pet grooming is a business you can start in your own home while using the tools you already own, which keeps the overhead low.

In the United States, pet grooming is a $60 billion-dollar industry.

Pet Boarding or Pet Sitting Business

More than half of all American households have at least one pet. Whenever a pet-owning family needs to travel, they must find someone to care for their pet, which creates a niche for pet lovers. Pet boarding facilities are some of the most successful business, but a new, and equally successful, business model has started to develop. These days, individuals who create pet sitting as well as pet boarding businesses are making quite a bit of money. The advantage of pet sitting in the pet owner’s home is that your overhead is quite a bit lower than if you’re running a pet boarding business out of your home.

Greeting Card Shop

Greeting cards might not seem like much but greeting card shops are one of the most successful businesses. Every single year, Americans buy approximately 6.5 billion greeting cards that they send to friends, family members, and acquaintances. The sales add up to about $8 billion every single year. Small stores, especially those that have cards that can’t be found in big box stores, are beginning to gain traction and turn a tidy profit. If you love greeting cards, you may want to consider opening a small store that specializes in them or creating a mobile store that can be set up at art fairs and community events.

Which of these successful small businesses do you think would be a good match for you?


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