Profitable Small Business in 2023

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The end of the year is in sight, we have to start planning for the coming year from now on. For those of you planning to start a new business in 2023, the end of the year like now should be put to good use for research on profitable business opportunities in 2023.

Actually, business ideas for 2023 are not far from trends that have existed since the COVID-19 pandemic. The pandemic seems to have changed all the habits of many people that have been going on for decades. The most obvious thing is the change in the way people work, the digitalization that is getting more intense, to the adoption of a healthy lifestyle that is starting to interest many people.

Looking at the trends this year, it can also be a bit of an illustration of business ideas that are predicted to be profitable in 2023. So, what is the inspiration for the 2023 business idea?

10 Profitable Business in 2023 

Small businesses employ millions of professionals in dozens of industries. Every year, new companies open their doors and provide jobs to help fuel their local economies.

However, not all small business ideas are adaptable and flexible. In 2020, many businesses have been forced to close and reinvent themselves to keep operating in the new normal. If you're thinking about starting a business this year, here's what you need to know about the current small business landscape and the opportunities available.

10 profitable small business ideas worth starting in 2023

1. Home improvement services

In 2020, the housing market experienced its highest growth rate since 2005 . More and more people are buying homes, which creates a demand for home repair services. New homeowners may not have the skills or expertise to make their renovation a reality, and are looking to hire a professional to help get the job done.

Home improvement services can include anything from interior design, carpentry, contractors, plumbing, or landscaping. Most of these areas require training and access to equipment or materials, so initial costs are not the cheapest. This type of business may also be more popular in certain geographic areas than others (i.e. wherever it is easiest for people to buy a home).

2. Cleaning services

Cleaning services offer an important opportunity for both residential and commercial properties, helping manage tasks that many people either don't enjoy or don't have time to complete. This service can serve as home-based support one or more times per week, or as a daily resource for commercial operations. At an average rate of 100 to 200 thousand per hour , cleaners generate a large income for a simple but important service.

Due to the nature of cleaning services—no physical office is required, equipment costs are low and billable back to clients and hours of operation are flexible—entrepreneurs can see significant success building companies in the industry. Labor is very affordable, meaning no education or experience is required to work as a residential or commercial cleaner, so hiring costs can be low and wages are often close to the minimum.

3. Tutoring services

Schools are always in session, and distance education has created unique challenges for students of all ages. Starting a tutoring service is a great way to help those who are struggling with core concepts or gain further mastery in a particular area. The following is an example of a list of fields of study that your tutoring business could specialize in:

  • Permission from the government
  • college essay preparation
  • English
  • Science (biology, chemistry, physics)
  • Foreign language
  • Mathematics
  • History
  • Computer Science

Thanks to video software there's no need to conduct in-person lessons—all you need is your phone, tablet or computer, making startup costs for this type of business extremely low. Depending on your location and level of education, your tutoring service can charge anywhere from 100k to 300k per hour

4. Personal training and fitness instructor

Gyms and indoor fitness centers have been largely impacted by the mandated COVID-19 shutdowns, but the fitness industry has proven adaptable and resilient. Fitness instructors and customers alike have turned to online and outdoor classes to stay healthy and active. The shift to remote work and quarantine has also created an unprecedented need for exercise.

While certain fitness trends come and go, the need for fitness trainers and quality content remains constant. We recommend that personal trainers reach customers and build followers through digital platforms such as YouTube, TikTok, IGTV and Instagram Live. Trainers can use social media to find clients to create customized training programs, at their desired cost.

Starting personal training can be very simple. You can take a formal certification exam, or in some cases, being a self-taught fitness nerd is enough to break into the industry.

5. Delivery service

Due to the pandemic, more people are staying at home to stay safe. That means that delivery services have come a long way; online food delivery services alone are expected to grow in 2023.

To ride this wave, you can offer your own local courier service to deliver groceries, medicine, or run other important errands. In addition to charging standard rates, AYou may charge extra for longer shipments, rush orders, or shipments of heavy or large items.

6. Digital marketing services

With more and more businesses opening online stores, the need for digital marketing services is increasing. To help small businesses build their brand and digital presence online, you can create your own digital marketing agency. Digital marketing agencies typically offer one or more of the following services:

  • Copywriting
  • SEO writing
  • Help with paid social media advertising
  • web design
  • Brand/creative consulting
  • Content creation
  • Organic social media management

  Anyone can start a digital agency, regardless of their educational background. Running an agency is easy to do from a home office, so there are very few start-up costs to start this type of business. You can run the agency as a solopreneur, or hire people who have expertise in areas you are less knowledgeable about.

7. Application development

Businesses want to go digital, and some may even seek to build their own apps to reach customers. App developers can help businesses realize their vision by creating custom iPhone or Android apps.

App development doesn't require a formal degree, but prior training and experience building apps is essential if you plan to venture into the field. There are coding bootcamps and free online courses that can help you learn the basics and get started.

8. Accounting services

Individuals and businesses alike rely on accounting services annually to file tax returns, and help with bookkeeping and financial planning. This consistent and reliable service demand is definitely a pro if you are looking to start a business. There is very minimal overhead overhead for accounting, and the job is easy to do from home.

However, the barrier to entry for accounting is quite high. Accountants usually have at least a bachelor's degree, and some may have a CPA license or IRS Registered Agent certification. Accounting professionals with more advanced qualifications can charge higher rates and generate more revenue as a result.

9. Real estate agent

The demand for bigger and more spread out spaces during the COVID-19 pandemic has created a housing shortage, with prices expected to skyrocket. Thanks to remote work, more people are leaving the city and looking for property in suburban areas.

While this trend may be temporary, the real estate industry has a lot to offer. Thanks to online classes, becoming a licensed agent is easier than ever, and no specific degree or background is required. Overhead costs also tend to be low, as agents can work from almost anywhere.

10. Warehouse and Storage

With the increasing number of marketplaces increasing purchases every year, Indonesia is expected to need a very large warehouse storage area by 2025 . This means that having enough space to store goods and possessions brings attractive business opportunities.

Building a warehouse can cost anywhere from 100 million – 1 billion depending on the size, this can be offset by rental income once you open your business. In many cases, renting warehouse space can be very easy; clients pay rent and are then free to store their belongings. This means that the time commitment in the warehousing business is minimal.

Position your business for success

There are many ingredients for starting a successful business: a good plan, a sound business system, business acumen, experience, etc. While no industry is guaranteed to be successful, one that is flexible, resilient, in high demand, and with good margins is a solid capital. bet. This list of small business ideas is a starting point to get you inspired this year.

If you are inspired to open a business and you are looking for a POS that will help you every step of the way. Let's have a discussion

Dodi Maulana
All Because of Allah Ta'ala

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