Starting a business affords entrepreneurs the opportunity to be their own bosses while pursuing careers they are truly passionate about. As the founder of a service-industry business, you can help your community while taking control of your professional life. Additionally, because many service businesses don’t require a physical office, startup costs may be more affordable.
As with any business, be sure to check your state and local laws for any insurance and licensing requirements associated with your industry and/or location. With that in mind, here are 11 promising service-industry businesses entrepreneurs can start today:
1. Pet Care
It’s no secret that many of us treat our pets like beloved family members, and projections for the size of the pet-care market—$4.73 billion in 2014—reflect this. From grooming to dog walking, pet care is a booming business with great revenue potential.
In addition to cats and dogs, consider servicing exotic pets as well; this will increase your appeal and broaden your market, which hopeful translates to higher profits. Additionally, because most pet professionals visit their clients’ homes, you won’t necessarily need a physical place of business to operate, which will save you a significant amount of cash.
2. Spa Services
From massages to manicures, spa services are becoming increasingly popular in the United States. In fact, research found that revenue from spa treatments reached $13.4 billion in 2011. Along with offering various treatments, spa service professionals can maximize profits by performing services in their clients’ own homes.
With admission to top colleges becoming increasingly competitive, more parents are seeking out exceptional tutors to give their children a leading edge. If you have a great college transcript and a talent for working with kids, you may be able to earn big bucks by starting your own professional tutoring organization. This one’s also great for current college students or recent grads.
4. Fitness Instruction
Fitness instruction offers health-conscious entrepreneurs the opportunity to earn a profit by helping others stay healthy. From yoga to self-defense, you can teach a variety of classes in your house or at a local gym. Additionally, you can offer one-on-one training services for an extra cost.
5. Tech Repair
From operating a business to communicating with loved ones, the majority of us rely on technology to function in our daily lives. However, most computers and other forms of technology cannot escape that inevitable malfunction. As a tech repair professional, you can provide an invaluable service while earning a great income in the process.
Did you earn high marks in your language and literature classes? From business brochures to resumes, talented writers can earn big bucks providing professional copywriting services to companies and individuals. Furthermore, many copywriters work out of their homes with minimal overhead for supplies.
Babysitting is a great option for entrepreneurs who want to save on operational costs while spending their days caring for young people. You can save cash by offering childcare in people’s houses or by operating in your own residence if you have young children of your own.
Like childcare and pet care, housesitting is a simple business opportunity with big moneymaking potential. Because the job typically requires little attention, house sitters have the opportunity to perform other tasks at the same time, allowing them to supplement their income with a second job if desired. Additionally, many house sitters live in their clients’ homes, allowing them to save money on rent and utilities.
9. Home and Office Cleaning
It’s hard to find someone who enjoys cleaning bathroom tiles and scrubbing toilets. As evidence of this fact, a recent survey revealed that 10% of households paid a professional for cleaning services last year. As a home and office cleaner, you can earn a significant salary with minimal overhead for cleaning supplies and tools.
Eldercare is one of the fastest-growing industries in the U.S. In fact, a recent study estimates that seniors will constitute 19% of the population by the year 2030. As an eldercare provider, you can earn a great income while enjoying the opportunity to help our nation’s seniors live richer, safer lives.
11. Wedding and Event Planning
Are you a self-described romantic with a talent for organization? If so, you may want to consider starting a service business in the field of wedding and event planning. By providing a valuable service to busy brides and grooms, you can earn cash while celebrating couples’ special days.
No matter what type of service business you want to start, it’s never too early to think about how you’re going to market it. Depending on what type of business you launch, you might want to promote it on a general services website like Craigslist or a freelancing website like Elance. Either way, make sure you have a solid local marketing plan, and don’t underestimate the importance of building a great word-of-mouth following.
Running a service business is a challenge; however, the potential rewards are great. Follow your passions to give your business the best shot at success in the years to come.