Five Profitable Small Business Ideas

Many people want to form their own business but might not have an idea to begin the type of business, which they want to start.

The five suggestions that are provided in this blog are more like an industry or business sector to check more deeply to find the perfect idea for your niche. These sectors are currently showing a lot of growth and you will be able to earn a good amount of profit from these businesses.

Here are 5 ideas which will help you to make a profit in your business.

1. The co-working and sharing economy

The rise in millennials in the workplace with their changing attitudes towards work and life has highly influenced the way many businesses work. It includes more flexible working patterns, remote working, best desk setups, and collaborative workspaces.

The new generation of workers and many environmentally conscious older workers are happier now to own less stuff than previous generations. Due to this, the sharing economy is evolving. The sharing economy is increasing because of environmental concerns, and economic necessity for numerous individuals who are starting their own solo business on a shoestring. For an individual looking to set up a co-working or freelance hub in one's local community, pooling and sharing act as important resources and will be a great opportunity for that person.

2. B2B services

The Sole traders and small businesses rising in the UK. The majority of the rising businesses need support for going forward with reliable B2B services that you can offer. The majority of the small business owners, especially the solo-entrepreneurs, will outsource many of their work or hire freelance contractors for taking on specific tasks on behalf of. Hence, if you have skills that will be helpful for small businesses.

New B2B customers can be attracted by creating a winning profile on LinkedIn and providing details of your exact services and availability. LinkedIn is an effective social media platform for business users, hence, by using Linkedin you will be able to attract the right B2B partner.

There are numerous opportunities for freelance work providing your services to B2B companies. Following are some good examples of in-demand services from small business owners:

  • Bookkeeping and accounting services business consulting
  • Business website design
  • Call answering services
  • Graphic design services
  • Sales and marketing copywriting
  • Social media management services
  • Transcription services
  • Virtual PA services
  • Website and blog content creation

3. Mobile services

The majority of the people have become so busy with work and family life that people often lack the free time to get everything done. If you have the skill or service that can be flexible around to fit the needs of the customers, some the related examples are given below:

  • Car wash and valeting service
  • Car mechanics
  • DIY/ handmade services
  • IT support and repairs
  • Mobile catering vans
  • Mobile hairdressers
  • Mobile massage and beauty therapists
  • Personal trainers

4. Online tutoring

The Internet has opened up a vast range of money-making opportunities for people, especially if they have desirable skills to share. To make things easier for yourself you can sign up with a well-established online tutor platform like Udemy for selling your tutor services. Otherwise, you can use Skype for providing one-to-one live services to students in need of personal coaching. Some of the areas where online tutoring works well are given below:

  • Academic subjects
  • Business marketing
  • Languages
  • Meditation and mindfulness
  • Music tuition
  • Personal fitness or yoga

5. Childcare industry

Nowadays, in the majority of the families both the parents are working to bring in enough income for covering the rent or mortgage payments and other utility bills. Hence, due to this, the childcare industry is booming. Childcare places are growing in demand for working parents. Following are some examples of small businesses in the childcare industry:

  • After school activity club
  • Childminder
  • School holiday club
  • Kids sports club
  • Kids yoga teacher

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