Most profitable small business ideas (2024)

Are you ready to be your own boss and set your own schedule? Have you been daydreaming about pursuing a passion or using your experience to strike out on your own?

If you have, you may want to consider opening a small business. There are endless options, but some of the most profitable small business ideas may surprise you.

Below, you'll find some of the best business ideas in tech, consulting, home improvement, health care, hospitality, and other industries.

Methodology:All salary data was provided by Salary.com and Payscale, and information about states with the highest-paying salaries is based on data from Zippia. Note that these numbers may vary by state and level of experience.

If you're tech-savvy or an expert on an in-demand subject, share your knowledge byconsulting with other business owners. This is a great option to earn money since you often won't even have to work on any projects—people are just paying for advice and insights.

1. Website and app development

It should be no surprise that tech is one of the fastest-growing industries.

The outlook for software developers looks promising, with jobs expected to grow 22% by 2029. App development is another niche that continues to grow.

If you don't have a background in programming, consider taking online courses to build your skill set and learn the most popular coding languages. You can become a consultant or a freelance developer for corporate clients.

• Earning potential:$60K–$110K+
• Skills:HTML, CSS, Javascript, Kotlin, Objective-C, Swift, C#, jQuery, PHP, Git, API, and Python
• Education:Degree or certification in computer science, information technology, computer engineering, or a related field
• Certifications:Certified web professional, certified software development professional
• Licenses:Business license
• Legal documents:Web development agreement, website maintenance agreement
• Tools to get started:Code editor, Chrome developer tools, GitHub, computer, internet connection, and collaborative design and development software
• Highest-paying states:Washington, Wyoming, Oregon, North Dakota, and Montana

2. Financial consulting

If you're a numbers whiz, have an impressive portfolio of work, and have a proven track record, you could have a promising future as an accountant with your own firm orfinancial consultant.

Many business owners prefer to spend their days working on their craft and engaging with clients—not sitting at a desk crunching numbers and creating budgets. This means you stand to make a lot of money by providing bookkeeping and advising services to small and midsize businesses.

• Earning potential:$40K–$130K+
• Skills:Financial planning, investment management, math, trend analysis
• Typical education:Bachelor's degree in finance, business, or accounting
• Certifications:Certified management accountant, CFP certification
• Licenses:Series 63 license, series 65 license
• Legal documents:Consulting agreement
• Tools to get started:Financial adviser software, client management software, scheduling software
• Highest-paying states:New York, Maine, Massachusetts, and Vermont

3. Online business consulting

Work with business owners to help them meet their goals.

Once you've mastered your field, work with other businesses to solve complex problems as a consultant. You could help in various areas, like building their social media presence, managing finances, or optimizing internal resources.

The U.S. Bureau of Labor Statistics (BLS) shows the job outlook for management analysts will grow by 11% growth by 2029, which means demand for these services is growing much faster than the national average.

Whether your background is in HR, finance, marketing, or operations, you can put your expertise to use byopening a consulting firm.

• Earning potential:$70K–$120K+
• Skills:Project management, data analysis, operations management, analytics, budget proposal creation
• Education:Bachelor's in business management
• Certifications:Project management professional (PMP), certified management accountant (CMA)
• Legal documents:Consulting agreement
• Tools to get started:Benchmarking tools, balanced scorecard, project timeline management tools
• Highest-paying states:Alaska, Washington, New Jersey, and Oregon

4. Information security

With more people working remotely and the global expansion of e-commerce, the need for cybersecurity solutions has skyrocketed.

Firms that help companies plan and implement security measures for IT systems, devices, and networks will be increasingly in demand. Your small business could play a big role in helping to reduce data breaches and cyberattacks.

The BLS predicts that the need for information security analysts will increase 31% by 2029—much faster than the national average.

• Earning potential:$95K–$115K+
• Skills:Cloud computing, information architecture, network security, full stack web development, and data mining
• Education:Bachelor's in information security, business, computer information systems, or information technology
• Tools to get started:Network analyzer and penetration tester tools, encryption tools, antivirus software, firewall tools, network intrusion detection software, and security monitoring tools
• Highest-paying states:Delaware, New Jersey, New York, and Rhode Island

Most business owners will pay a premium for assistance promoting their products or service, especially if your insights help generate more revenue.

5. Digital marketing

If you're a pro at all things related to search engine optimization and other web optimization efforts, you may want to start a generalized digital marketing company. That way, you can attract customers who want different services but only want to pay once.

If you ever need to do something that's a bit out of your wheelhouse or get too busy, you canhire freelancersin those niches.

• Earning potential:$47K–$93K+
• Skills:Budgeting, sales, search engine optimization (SEO), video marketing, search engine marketing (SEM), content marketing, Google Analytics, social media marketing, and/or UI/UX design
• Education:Bachelor's in finance, journalism, communications, business, or marketing
• Certifications:AMA digital marketing certification, Google certifications, HubSpot inbound marketing certification
• Licenses:You may need a permit to consult within certain industries
• Legal documents:Independent contractor agreement
• Tools to get started:Project management software, design program, data collection tool, SEO and PPC tools, cloud sharing tool, and collaboration tools
• Highest-paying states:Washington, New Jersey, Minnesota, Rhode Island, and Oregon

Help businesses manage their appearance, reputation, and growth on popular social media platforms. If you're good at relating to people,identifying content opportunitiesto attract viewers, and keeping up ever-changing the latest trends, experiment with social media management.

You can be a generalist, but specialists who excel in Instagram, Tik Tok, and Pinterest are in high demand currently as well.

• Earning potential:$50K–$89K+
• Skills:Copywriting, graphic design, community engagement, and viral marketing
• Education:Bachelor's in communications, business, marketing, or journalism
• Certifications:Social media marketing specialization, HubSpot social media certification, social media marketing master certification
• Tools to get started:Design tools, computer, social media analytics tools, cloud sharing tools, post scheduling tools, and project management system
• Highest paying states:California, Connecticut, Washington, Rhode Island, and Oregon

Turn your passions into profits with one of these creative business ideas.

7. Writer or author

If you spend a lot of time reading or writing, you're known for your impressive vocabulary, and the idea of sharing value with the world through words appeals to you, try your hand at becoming aprofessional writer.

There are so many types of writing you can do. You can become a book author, technical writer, magazine contributor, exam writer, proposal writer, screenwriter, lyricist, or try out a number of alternative niches.

• Earning potential:$33K–$84K+
• Skills:Spelling, grammar, storytelling, digital publishing
• Education:Bachelor's in English, creative writing, or journalism
• Legal documents:Copyright, right to publish, and compensation contracts
• Tools to get started:Computer, Grammarly, word processor, plagiarism detector
• Highest paying states:District of Columbia, Delaware, Nevada, Rhode Island, and Connecticut

8. Graphic design

If you're creative and like to communicate using visuals, graphic design could be the perfect business for you to pursue. Graphic designers are in high demand and you can work from home.

With some practice, drive, and the right tools, it's entirely possible to make a good living whether you're doing brand work, apparel design, 3-D modeling, animation, or illustrations.

• Earning potential:$37K–$68K+
• Skills:Illustration, image retouching, typography, branding, formatting, web design
• Education:Bachelor's in graphic design, fine arts, design, and visual communication, or communications
• Legal documents:Design contract, copyright contract, work-for-hire agreement
• Tools to get started:Adobe Creative Cloud, Figma, Canva, Procreate, high-resolution computer, Sketch
• Highest paying states:Washington, Massachusetts, District of Columbia, Rhode Island, and New York

9. Transcription services

If you can type 70 words per minute or faster and have a penchant for accuracy and proper spelling, you already have the skills needed to excel as a transcriptionist.

Most transcriptionists can make a solid income by offering medical transcription services, and you can boost your earnings even more by earning certifications.

• Earning potential:$18K–$81K+
• Skills:Typing, proofreading, attention to detail, active listening
• Education:High school diploma or Associate's in Word Processing or English
• Legal documents:NDA
• Tools to get started:Computer, internet connection, headphones, word processing software, and time tracking software
• Highest paying states:South Dakota, New Hampshire, West Virginia, Illinois, and Nebraska

10. Translation services or interpretation

If you are fluent in multiple languages, you may have what it takes to become a professional translator. Businesses and hospitals often need to hire translators to communicate with clients and patients when there's a language barrier.

You could find work as a simultaneous interpreter, literary translator, judiciary translator, or localization translator.

Translators who speak Spanish and Mandarin are in the highest demand, but you can also find demand if you speak Arabic, German, French, Dutch, Russian, Japanese, or Italian.

You must have a high school diploma or equivalent, demonstrate language skills by passing an exam, and obtain an interpreter certificate after you receive 40 hours of training.

• Earning potential:$27K–$100K+
• Skills:Speak 2+ languages fluently, writing, knowledge of cultural nuances, active listening
• Education:Bachelor's in business, communications, or a foreign language
• Certifications:ATA certification, CCHI certification, medical interpreter certification
• Legal documents:NDA
• Tools to get started:Computer-assisted translation (CAT) program
• Highest paying states:District of Columbia, Oregon, Virginia, Montana, and New York

11. Tattooing

If you're dedicated to art and practice your craft daily, and you can't think of anything more rewarding than someone wearing your art on their body for the rest of their lives, consider becoming a tattoo artist.

You'll need to start out in someone else's shop while you complete your apprenticeship and hone your craft, but after a few years, you can open your own shop.

• Earning potential:$27K–$100K+
• Skills:Drawing, tattooing, customer service
• Education:High school diploma and an apprenticeship
• Certifications:CPR and bloodborne pathogens (BBP) certification
• Legal documents:Tattoo and body piercing consent form
• License:State tattoo license
• Tools to get started:Needles, ink, tattoo machine, gloves, hazardous waste container, tubes, tips, stencils, and a sanitary work area
• Highest paying states:New York, New Hampshire, Indiana, Wisconsin, and California

Some other creative business ideas you can pursue include:

• Painting
• T-shirt printing
• Jewelry making
• Embroidery and cross-stitching
• Candle making

Make life a little sweeter for your customers by helping them plan for some of life's best moments, whether that's a trip, wedding, or some other event.

12. Wedding planning

Help a couple pull off their big day by negotiating with vendors and keeping the wedding planning process on track.

As someone who cares about the little details, finds unique solutions to problems, and has good communication skills, you could help take a lot of stress off an engaged couple's shoulders.

• Earning potential:$27K–$68K+
• Skills:Contract negotiation, event planning, communication
• Education:Bachelor's in business, communication, or hospitality management
• Certifications:Certified wedding planner (CFP)
• Legal documents:Wedding contract
• Tools to get started:Wedding management software, venue finder tools, relationships with vendors, task organization system
• Highest paying states:New York, Massachusetts, Connecticut, New Jersey, and New Hampshire

13. Personal coaching

If you're passionate about changing people's lives for the better, consider becoming a coach. Whether you focus on coaching people on life, dating, or some other niche, you can do a lot of good by listening and sharing your experiences.

• Earning potential:$29K–$100K+
• Skills:Patience, communication, reflection, encouragement, emotional intelligence
• Education:High school diploma or bachelor's in business or psychology
• Certifications:iPEC,PCC, health coach, life purpose coach
• Legal documents:Liability waiver and consent form
• Tools to get started:Website, The Life EKG, and gratitude journals
• Highest paying states:Connecticut, Texas, Wyoming, Pennsylvania, and Oregon

If you're good with people and like to cook for people or make them feel comfortable, there's room for you in the food and hospitality industry.

14. Virtual event planning

From charity fundraisers to conferences, virtual events are here to stay. Those seeking assistance with planning include corporations, educational institutions, nonprofits, and associations.

Virtual events go beyond setting up a Zoom invite. They can involve video conferences, live streaming, broadcasting, trade shows, job fairs, and sales meetings. As a virtual event planner, you'll help arrange logistics, set the agenda, build enthusiasm, and drive marketing. You'll bring the event to life, even when it's virtual.

You don't need a specific degree or certification to plan events. You can offer your services through a small business if you're organized, creative, and dedicated to making an event a success.

• Earning potential:$33K–$83K+
• Skills:Customer service, contract negotiation, event management, proposal writing
• Education:Bachelor's in business, communication, marketing
• Certifications:Certified planning engineer (CPE), certified special events professional (CSEP)
• Legal documents:Client contract, NDA
• Tools to get started:Catering service agreement, event planner contract, photo and video release
• Highest paying states:New York, Massachusetts, Connecticut, and New Jersey

15. Restaurant or catering

If you want to work in food service, there are several routes you can take, from being a personal chef or caterer to afood truck owneror meal kit delivery service person—the possibilities are endless.

You can choose which direction to take based on where you want to be located, who you want to work with, how much time you want to spend face to face with customers, and other criteria.

• Earning potential:$50K–$76K+
• Skills:Customer service, hospitality, hotel management, organization
• Education:Bachelor's in hospitality management, culinary arts, or business
• Licenses:Food service license
• Legal documents:Privacy policy, mutual NDA, refund policy, sales tax requirements
• Tools to get started:Booking software, hotel management software,
• Highest paying states:New York, Maryland, California, Pennsylvania, and Virginia

If you already have credentials, now is a great time to put them to work for you by starting a fitness coaching business or offering mobile physical therapy sessions. The job outlook for fitness trainers and instructors is growing faster than average, with an expected 15% increase from 2019 to 2029, according to the BLS. Physical therapists can expect job opportunities to grow by 18% within that same timeframe.

16. Personal training

A lot of people need an extra push to help them meet their fitness goals, and others just feel helpless when they step into the gym because they don't know how to use the equipment.

As a gym enthusiast and someone who has enough experience to help people meet their fitness goals by monitoring their health and progress, you could end up changing someone's life for the better by offering this service. However, it is important that you read up on best training practices and obtain a proper education in fitness.

• Earning potential:$33K–$100K+
• Skills:Customer service, fitness program development, dietary planning
• Education:Bachelor's in kinesiology, business, psychology, health education, or sports medicine
• Certifications:CPR certification, AED certification
• Licenses:NASM personal trainer and performance nutrition specialist
• Legal documents:Liability waiver, certificate of insurance, personal training contact, consent, and disclaimer
• Tools to get started:Scheduling tools, personal training software, progress tracking software, workout planning tools
• Highest paying states:Connecticut, Pennsylvania, Rhode Island, Delaware, and Maryland

17. Beauty salon

Rent out chairs in your beauty salon to makeup artists, hair stylists, estheticians, eyelash technicians, and manicurists to bring in more revenue while giving others room to practice their craft.

• Earning potential:$30K–$78K+
• Skills:Cosmetology, customer service, knowledge of hair products
• Education:Associate's or bachelor's degree in cosmetology, business, or general studies.
• Certifications:Cosmetology certification
• Licenses:Beautician's license
• Legal documents:Retail seller permit, business operation license, certificate of occupancy
• Tools to get started:Chairs, materials for stations, shampoo bowls, administrative equipment
• Highest paying states:Washington, Nevada, California, New York, and New Jersey

Open a retail store with interesting wares, try selling high-quality found items, or spend your time helping other business owners ship their products.

18. Dropshipping

Dropshipping is a retail practice that involves shipping products to customers through third-party vendors. This means you never store or handle the products. In turn, dropshipping requires less capital to start than traditional retail methods.

From2019 to 2025, the global dropshipping market size is expected to grow by 28.8%. What's causing this massive expansion? With the rise of online shopping and e-commerce, more product sales happen through online stores without inventory.

Before starting a dropshipping business, test your product to ensure its quality so that you can confidently promote it.

• Earning potential:$12K–$81K+
• Skills:Customer service, task management, sales, accounting
• Education:High school diploma
• Legal documents:Business license
• Tools to get started:Dropshipping supplier, eCommerce site, automation tools
• Highest paying states:N/A

19. Online reselling

Did you know that you can make money just by shopping and posting your finds online?

If you love collecting trendy clothing, vintage video items, or rare books, you may want to consider selling some of them for a profit on websites like Poshmark, Mercari, eBay, or Amazon. This can be an excellent side hustle or a legitimate small business.

• Earning potential:$56K–$83K+
• Skills:Customer service, photography, packaging and shipping, photography, website selling account
• Education:High school diploma
• Legal documents:Privacy policy, terms, and conditions, cookies policy, return policy
• Tools to get started:Computer, internet connection
• Highest paying states:N/A

Some other amazing retail opportunities include:

• Clothing boutique
• Coffee shop
• Pet store
• Subscription box service
• Trucking and logistics

Many people hire professionals to help with their improvement projects—from new flooring to updating bathrooms. Consider beginning a home improvement business in your area. According to BLS data, construction occupations are expected to grow 4% from 2019 to 2029. This includes carpenters, floor installers, drywall installers, electricians, roofers, and painters.

20. Home organizing

Do you geek out over home improvement shows? Are your friends always impressed over how orderly your home is? Do you like wowing others with the storage solutions you found on your latest run to Target or Ikea?

If so, have your love for organization make you some money. Minimalism continues to be a trend, and many people are willing to pay someone to help them declutter their lives.

If you have great ideas to help clean out a cramped and cluttered home and you can help the people who live there to keep it tidy once you leave, you could have a promising career as a home organizer.

• Earning potential:$31K–$100K+
• Skills:Customer service, home organization
• Education:High school diploma
• Legal requirements:NDA, service contract
• Tools to get started:Booking tools, social media, storage solutions, cleaning supplies
• Highest paying states:New York, West Virginia, New Jersey, Rhode Island, and Alaska

21. Real estate

If you love helping people find their dream home, spending time staging amazing properties, meeting new people, and going to bat for your clients in a competitive market, you could be an excellent realtor. It also doesn't hurt if you're always organized and can breeze through paperwork.

• Earning potential:$68K–$145K+
• Skills:Real estate, customer service, networking, staging, negotiating
• Education:Bachelor's in business administration, graphic design, digital marketing, or accounting
• Certifications:Certified real estate inspector (CRI), certified sales professional (CSP)
• Licenses:State real estate license
• Legal documents:Mortgage deed, commercial lease agreement, rent-to-own agreement
• Tools to get started:Social media, graphic design tools, administrative and productivity tools, mortgage calculator
• Highest paying states:Vermont, Massachusetts, Montana, New York, and Michigan

Some other home services business opportunities include:

• Landscaping
• Cleaning service
• Handyman service
• Garden design
• House flipping
• Furniture refurbishment
• Interior design

Help people care for the people and pets they love when they can't, or consider teaching people new skills online. You can host live classes, webinars, or pre-recorded courses based on your schedule.

22. Tutoring and Test Prep

Starting a virtual tutoring business requires little equipment, and you may already have the skills to get started.

Whether you're skilled at math or can play the piano, you can teach people new skills from the comfort of your home. Some common online tutoring subjects include preparing for college entrance exams, teaching a foreign language, and offering individualized help to students with special needs.

• Earning potential:$23K–$74K+
• Skills:Communication, expertise in one or more subjects, academic support
• Education:Bachelor's in the subject you teach, typically psychology, business, English, or biology
• Certifications:Microsoft certified educator (MCE), K-12 educational certificate
• Legal documents:Private tutoring agreement
• Tools to get started:Calendar sign-up tool, web conferencing program, communications tools
• Highest paying states:Nevada, New Hampshire, Connecticut, Vermont, and Maine

23. Online classes

There are more opportunities for entrepreneurs in the virtual learning space than ever before. Now you can host webinars and classes to teach others about a subject to reach students worldwide.

You can teach art, workout, programming, design, and language classes, or something completely different. When you're ready to get started, you can look into publishing your courses on Teachable, LinkedIn Learning, Udemy, or Coursera.

• Earning potential:$33K–$67K+
• Skills:Teaching, communication
• Education:Varies based on industry, but typically this includes a bachelor's degree in a relevant field
• Certifications:Varies based on industry, but they are typically skills-based.
• Licenses:Varies based on industry.
• Legal documents:Online course agreement, copyright
• Tools to get started:Internet, video recording, and editing software
• Highest paying states:Alaska, New York, Virginia, Maryland, and Vermont

If you know how to change a tire in 10 minutes, have built your own custom system from scratch, know how to apply paint protection film seamlessly, or you just love fixing up cars, you should try out one of these profitable automotive business ideas.

24. Auto detailing and repair services

Help people keep their cars up and running and make modifications, so their cars perform how they want them to. Or, if you're an educator at heart, you can also teach people how to drive.

Fix cars and make them look good as new with paint protection film, interior rejuvenation, and window tinting.

• Earning potential:$36K–$72K+
• Skills:Washing, buffing, waxing, shampooing, steaming, deodorizing, vacuuming, paint protection film (PPF)
• Education:High school diploma or equivalent
• Certifications:IDA certification
• Legal requirements:You may need a permit to operate
• Tools to get started:Vacuum, pressure washer, buffer, microfiber cloths, cleaning products
• Highest paying states:Wisconsin, Oregon, Washington, Idaho, and Ohio

25. Driving school

If you're 25 or older, you know traffic laws inside and out, and you're a great teacher, you could try to start a driving school.

Teach the newest generation of drivers the rules of the road so they and everyone else will be safe when they get behind the wheel. This job isn't for the faint of heart, but it is a phenomenal earning opportunity for anyone who is patient, good with people, and a top-notch driver.

• Earning potential:$54K–$65K+
• Skills:Teaching and driving abilities, calm, patient
• Education:High school diploma
• Certifications:Commercial driver's license (CDL)
• Licenses:You will need a license for each class you plan to teach. Visit your state's Department of Transportation website to see the requirements and apply.
• Legal requirements:Parental consent
• Tools to get started:Driving school software, car with dual controls, modified vehicle insurance coverage, and any driver insurance coverage
• Highest paying states:New York, Alaska, New Jersey, Massachusetts, and Vermont

You can also open one of the following car-related companies:

• Locksmith
• Tire shop
• Car dealership
• Used car dealership