In 2023, the world of business is full of chances for new owners. A study by the U.S. Bureau of Labor Statistics showed a record number of new businesses started in the U.S. in 2022. Over 5.4 million new ventures were launched, a 20% jump from the year before. This shows how many people can turn their hobbies and new ideas into successful businesses.
This article will look at the top 10 most successful businesses to start in 2023. It will cover the best industries, business types, and trends that are likely to grow and make money. It’s for both seasoned and new business owners. This guide will help you find the best profitable small business ideas, startup business opportunities, and low-cost business ventures that could grow a lot.
Key Takeaways
- Explore the top 10 most successful businesses to start in 2023, based on extensive market research and data analysis.
- Discover lucrative business models and innovative business concepts that are poised for growth and profitability.
- Learn about the most promising startup business opportunities and trending business opportunities for aspiring entrepreneurs.
- Identify successful home-based businesses and thriving online businesses that can be launched with minimal investment.
- Gain insights into the industries and sectors that offer the greatest potential for profitable small business ideas and low-cost business ventures.
Two Businesses You Can Start Within Three Months
Today, many people want to start their own businesses quickly and with little money. Ecommerce and online courses are great options for this. They can be launched fast and don’t need a lot of money upfront.
Ecommerce
The ecommerce world is full of chances for quick startups. You can sell custom products without keeping inventory with print-on-demand. Or, you can use drop shipping to make selling easier. Amazon FBA also lets you sell on the biggest online market with ease.
You can start an ecommerce business in 3 months with little money. It’s a good way to test products or niches. With Shopify, WooCommerce, or BigCommerce, you can make your own online store. This lets you reach more customers who like to shop online.
Online Courses
Online learning is getting more popular, making it a great time to sell courses. You can use platforms like Coursera, Udemy, and Thinkific to sell courses on many topics. The U.S. e-learning market is expected to grow a lot from 2020 to 2024.
Creating an online course can be done in 3 months. This lets you use your skills to make money. You can sell courses on your own site or on big marketplaces. This way, you can teach people all over the world and offer flexible learning.
“The beauty of ecommerce and online courses is that they empower individuals to start their own businesses with relatively low barriers to entry and the potential for rapid growth.” – John Doe, Founder of Startup ABC
Four Businesses You Can Start With Nothing But a Computer
In today’s digital world, starting a business is easier than ever. You just need a computer and a drive to succeed. Let’s look at four booming industries that are great for new entrepreneurs. They don’t require a lot of money to start.
Social Media Management
Over 55% of people worldwide use social media. Companies need help getting noticed on these platforms. As a social media manager, you can create engaging posts, manage accounts, and run ads. You can learn these skills online and use tools like Canva to make your content look professional. The social media management industry is worth $250 billion, offering a big chance for success.
Business Consulting
The business consulting industry is worth $250 billion. Consultants help companies reach their goals. You can focus on areas like digital marketing consulting, financial consulting, or business strategy consulting. If you have the right experience and enjoy helping others, starting a consulting firm could be very profitable.
Copywriting
Copywriting is a sought-after skill. Companies need great marketing copy for ads, websites, and social media. Starting a copywriting business is affordable. You can work as a freelancer, build your portfolio, and earn an average salary of $55,000.
Graphic Design
Graphic designers are always in demand. Companies need help with logos, website designs, and more. With skills in design and software like Adobe Creative Cloud, you can start a graphic design business. Freelancers make up about 90% of the industry, showing a lot of potential. Graphic designers earn an average of $66,500.
These four businesses show how you can start a successful venture with just a computer. From social media management to graphic design, there are many opportunities. By meeting the growing demand for these services, you can achieve financial freedom and become your own boss.
Two Businesses You Can Start From Home
Starting a business from home is now a great option in today’s fast-changing world. The cleaning service and virtual assistant industries are two great choices. They offer growth potential and let you work from anywhere.
Cleaning Service
The cleaning business is set to hit $88.9 billion by 2025. This is thanks to more people working from home and needing home cleaning services. Starting this business at home is affordable. You can buy your own cleaning supplies and advertise your home cleaning services locally.
You can offer various services like housekeeping, deep cleaning, or carpet cleaning. This business can be profitable, with cleaners earning an average of $55,949 a year.
Virtual Assistant
The virtual assistant market is expected to grow to $4.12 million by 2028. This growth is thanks to more internet users and online transactions. As a virtual assistant, you can help businesses and individuals with tasks like answering calls, managing social media, and bookkeeping.
You can work from home with strong organizational and communication skills. This can lead to a successful virtual assistant business, with an average salary of $34,751.
“The rise of remote work has created a wealth of opportunities for entrepreneurs looking to start their own businesses from home. The cleaning service and virtual assistant industries are two shining examples of how you can turn your passion for providing quality services into a thriving enterprise.”
If you like the idea of a cleaning business or a virtual assistant role, these options are exciting. With the right skills and plan, you can make a successful business from home. These services are in high demand, offering a chance for a sustainable income.
Two Businesses That Require Some Education or Certification
The world of business is full of chances, especially in pet services and real estate. These fields need special knowledge or a certificate. But, the benefits can be big for those ready to put in the work.
Pet Services
The pet care market is growing fast, expected to hit $281 billion by 2025. Entrepreneurs with the right skills can make a lot by offering pet grooming, training, and boarding. You might need certain licenses or training to start, but it could be worth it. Pet owners are spending more on their pets’ health and happiness.
Real Estate Broker
Real estate is another great business area. Real estate agents make about $55,346 a year, and it’s a big part of small businesses. To be a real estate broker, you must get the right licenses and certifications. Then, you can work for yourself or a company, helping people buy, sell, or rent properties. This field is always in demand and could grow, making it a good choice for those willing to learn and get certified.
If you like the pet or real estate fields, getting the right education or certification is key. With the right skills and a focus on quality, entrepreneurs can find success in these profitable areas.
Top 10 Most Successful Businesses to Start
The world of business is always changing, offering many chances for new founders. In 2023, the top 10 most successful businesses to start include a mix of profitable models. These models meet the changing needs of customers and businesses across various industries. You’ll find everything from ecommerce and online courses to professional services and finance.
Ecommerce is a booming area right now. More people are shopping online, making it a great time to start an online store. Online courses are also in demand, offering a chance for those with expertise to make a profit.
Professional services like business consulting, copywriting, and graphic design are booming too. These businesses need little money to start and can be run from home. They’re perfect for those wanting flexible, growing ventures.
The finance and insurance sector is also full of opportunities. Businesses like real estate brokerage and pet services use special knowledge to help clients. They often lead to big profits and can last a long time.
By looking into these top 10 businesses, new entrepreneurs can make smart choices. They can set their ventures up for success in today’s fast-changing business world.
| Business Type | Industry | Startup Costs | Profit Potential |
|---|---|---|---|
| Ecommerce | Retail | Low to Moderate | High |
| Online Courses | Education | Low | High |
| Social Media Management | Business Support and Consumer Services | Low | Moderate to High |
| Business Consulting | Professional Services | Low | High |
| Copywriting | Professional Services | Low | Moderate to High |
| Graphic Design | Professional Services | Low | Moderate to High |
| Cleaning Service | Business Support and Consumer Services | Low to Moderate | Moderate to High |
| Virtual Assistant | Business Support and Consumer Services | Low | Moderate to High |
| Pet Services | Professional Services | Moderate | Moderate to High |
| Real Estate Broker | Professional Services | Moderate | High |
This list shows a variety of businesses that can grow and make a lot of money. By looking at these top 10, new entrepreneurs can find the best chances that fit their skills and goals.
Professional Services and Real Estate Industry
The professional services and real estate industry is booming, making up 20% of all employer firms in the U.S. It’s a world full of chances for entrepreneurs, from management consulting to the exciting real estate market.
Management consulting is a $365.8 billion market, full of potential for those who excel in analysis and solving problems. Data science is also on the rise, expected to grow by 35% from 2022 to 2032. Real estate agents make a good living too, with an average salary of $55,346 a year.
Entrepreneurs can tap into the high demand for professional skills and real estate services to start successful businesses. If you’re into management consulting, data science, or real estate, this industry is full of opportunities for new business owners.
| Industry Segment | Market Size | Growth Potential |
|---|---|---|
| Management Consulting | $365.8 billion | Steady demand for problem-solving and strategic guidance |
| Data Science | 35% growth (2022-2032) | Increasing need for data-driven insights across industries |
| Real Estate Agents | Average salary: $55,346 per year | Stable and lucrative career in the thriving real estate market |
By using your skills and taking advantage of the strong demand, you can create a successful business. Whether you focus on management consulting, data science, or real estate, there are many chances waiting for you.
“The professional services and real estate industry is a dynamic and lucrative sector, offering endless possibilities for entrepreneurs who are willing to put in the hard work and harness their unique talents.”
Non-Manufacturing Goods Production Industry
The non-manufacturing goods production industry includes many sectors like agriculture, forestry, and oil and gas. It also covers utilities, transportation, and warehousing. This sector is crucial to the U.S. economy, making up 18% of small business jobs. Agriculture alone brings in $1.2 trillion a year, and warehousing and storage are a $34.6 billion market.
Entrepreneurs looking for new opportunities can find them in the non-manufacturing goods production industry. In agriculture, you can farm crops or raise livestock. The transportation and warehousing sectors offer jobs in storage and logistics. These areas are growing as more people shop online and need goods delivered.
This industry is great because it offers many different paths. Entrepreneurs can work in non-manufacturing goods production, agriculture, warehousing, storage, and transportation. This means you can match your interests and skills with a strong market need.
“The non-manufacturing goods production industry is a dynamic and rapidly evolving space, offering entrepreneurs a wealth of opportunities to build successful and scalable ventures.”
If you like the idea of farming, managing logistics, or using new tech, this sector is for you. It’s a great place for entrepreneurs to grow their businesses. With the right plans and tools, you can make a successful business here.
Finance and Insurance Industry
The finance and insurance industry is a big deal, making up 8.3% of the U.S.’s economy. It’s filled with profitable areas like regional banks, money centers, and financial services. These sectors have profit margins between 26% and 30%, making them great for entrepreneurs.
There are many ways to make money in the finance and insurance world. You could look into insurance, accounting, financial advising, or wealth management. These areas are known for their high profits. Entrepreneurs can really shine here, especially in 2023 and the future.
| Segment | Profit Margin |
|---|---|
| Regional Banks | 30% |
| Money Centers | 29% |
| Financial Services (non-bank and insurance) | 26% |
The finance and insurance industry is booming, offering great chances for entrepreneurs in 2023. By focusing on areas like regional banks, money centers, and financial services, you can set yourself up for success. These sectors have high profit margins and are growing.
“The finance and insurance industry is a powerhouse, offering entrepreneurs a chance to tap into consistently high profit margins and solid growth potential.”
If you like the idea of working in the insurance sector, doing precise accounting, giving personalized financial advice, or managing wealth, this industry is for you. By matching your skills with the right area, you can find success in 2023 and beyond.
Business Support and Consumer Services Industry
The business support and consumer services industry is big and growing. It includes many types of jobs and outsourced services. It makes up 15% of small business jobs in the U.S., making it a great place for new entrepreneurs.
Even though some admin jobs might decrease, the need for special outsourced services is going up. Entrepreneurs can make the most of this by offering services like bookkeeping, virtual assistance, and professional cleaning. These services can give a steady and profitable income, helping both businesses and individuals.
Cleaning services are a great part of this industry. More businesses and homes want to hire cleaners, giving entrepreneurs a chance to start a successful cleaning company. They can offer different cleaning packages to meet their clients’ needs. This is a good choice for those wanting a business with low start-up costs and steady income.
Virtual assistant services are also growing fast. With more companies working remotely and the rise of the gig economy, there’s a big need for skilled virtual assistants. Entrepreneurs with good organizational skills and tech knowledge can offer these services. They can handle tasks like scheduling, data entry, and customer service.
The business support and consumer services industry has many chances for entrepreneurs in 2023. By focusing on the growing need for outsourced services and special skills, new business owners can aim for long-term success and profits.
“The business support and consumer services industry is a dynamic and rapidly evolving sector, presenting entrepreneurs with a wealth of opportunities to establish thriving ventures.”
Retail Industry
The retail industry is a big part of the U.S. economy, making up $3.9 trillion of the gross domestic product. It’s set to grow by 4-6% in 2023, reaching over $5 trillion in total revenue. Entrepreneurs see great chances to start both e-commerce and brick-and-mortar stores, meeting the changing needs of today’s shoppers.
Profit margins in retail vary a lot, from 0.5% to 3.5% says Investopedia. But, some areas like food and beverage or cosmetics retail can make up to 40% profit. Retailers can boost their profits by managing inventory well, getting good deals from suppliers, and keeping customers coming back.
Whether you dream of an online store, a physical shop, or both, the retail industry has many chances for small businesses to do well. By tapping into the industry’s growth and knowing how to make profits, entrepreneurs can create lasting and successful retail businesses that meet their customers’ needs.