11 Most Profitable Small Businesses to Start in 2024 | And Beyond

As we approach 2024, the entrepreneurial spirit is stronger than ever. With the growth in entrepreneurship and the availability of pandemic relief funds, there’s no better time to turn your business dreams into reality. In this blog post, we will walk you through the 15 most profitable small businesses you can start this year. Whether you’re on the lookout for a low-overhead venture or a high-demand industry, we’ve got something for everyone.

1. Cleaning Services

Starting a cleaning business can be a lucrative venture, especially with low start-up costs and a high demand for both residential and commercial cleaning services. The commercial cleaning market is expected to grow 6% annually by 2026, suggesting ample room for success. Consider utilizing tools like Clover’s handheld POS devices, such as the Go and the Flex, to securely process payments on the go.

2. Dog Walker

In the aftermath of the pandemic pet adoption surge, dog care businesses have seen an increase in demand. With virtually no major start-up costs, becoming a dog walker can be a profitable venture. Position yourself as a high-end dog walker to attract clients willing to pay a premium for top-notch service. Clover’s mobile credit card reader can help you process payments securely and instantly.

3. Mobile Car Wash

Running a mobile car wash service can be a profitable business. The car wash market is projected to be worth $15.21 billion in 2022 and is expected to grow by 5.7% between 2023 and 2030. A mobile car wash service can help you stand out from traditional car washes. Apps like Cojilio can aid you in scheduling appointments and charging customers’ cards on file.

4. Tutoring

If you possess expert-level knowledge in a specific field, you could consider becoming a private tutor. The online tutoring market is booming and is expected to experience significant growth until 2030. The flexibility of conducting sessions online allows you to reach students across the globe. Position yourself as a high-quality tutor to command better rates.

5. Fitness and Personal Training

With the rise in work-from-home setups, many are seeking personal trainers to help them stay in shape. Personal training doesn’t require high overhead costs, and the fitness training industry is expected to grow by 14% over the next decade. A passion for fitness, some knowledge, and a few fitness equipment pieces are all you need to kickstart your own profitable fitness business.

6. Social Media Expert and Influencer

If you’re internet-savvy and have a keen sense of what’s trending on social media, consider starting a digital strategy business. Businesses today heavily rely on social media influencers for effective customer communication. Take charge of a company’s social media accounts to boost visibility and engagement. As an influencer, you can earn a good income through product placements and collaborations.

7. Digital Marketing

Skills like copywriting, graphic design, web development, and coding are highly sought-after in the digital marketing industry. Specializing in a niche industry or geographical location can help you command higher rates. Showcasing your skills and projects in a digital portfolio can attract clients. The digital marketing industry offers endless opportunities for profitable businesses.

8. Food Trucks and Food Stands

The food truck industry is thriving, with over $1 billion in revenue. While the overhead costs may be higher, a successful food truck can generate significant profits. Set yourself apart with a unique menu and find a location that isn’t saturated with other trucks. Tools like Clover’s Customer Engagement tools and loyalty programs can help you attract and retain customers.

9. Accounting and Bookkeeping

Starting a bookkeeping business can help individuals and businesses stay organized. With low start-up costs, all you need is some software, a computer, and printing capabilities. Even as the demand for bookkeeping services declines, enterprising entrepreneurs can still make a mark in this industry. Clover offers POS solutions for accountants to streamline their operations.

10. Kids’ Activities

If you live in an area with a high number of young children, starting a business that provides enrichment activities for kids can be a successful venture. With budget cuts reducing afterschool and summer programs, there is a gap in the market. Consider starting a gymnastics center, music school, or offer swimming or yoga lessons for kids. Hosting activities in local parks or community centers can help keep overhead costs low.

11. Landscaping

Landscaping can be an incredibly profitable business for entrepreneurs. With the increasing demand for outdoor beautification and maintenance, this industry offers significant opportunities for growth and success.

As we move forward into 2024, let these business ideas inspire you to take the leap into entrepreneurship. Remember, the key to a successful business lies not only in choosing the right industry but also in your passion, dedication, and the unique value you can bring to your customers.

Justin