If you’re like most small business owners, you’re always looking for ways to increase profits. One avenue you may not have considered is starting a service-based business. While some may think of service-based businesses as low-profit ventures, that doesn’t have to be the case. With a little creativity and research, you can find service-based businesses that can generate good profit margins. Here are five examples to get you started.
1. Personal Training
Personal training is one of the most lucrative service-based businesses you can start. You do not need to have a degree or any certification to start your own personal training business. If you want to open your own personal training center, you will need to get your certification and license before starting your business. The average annual salary for a certified personal trainer is $46,000 per year.
A good service-based service idea is one that helps people in a way that is unique and personal to them. For example, a personal trainer can help people who want to lose weight, gain muscle, or get in better shape by providing them with customized workout routines and nutritional advice. This type of service is beneficial because it allows people to achieve their goals under the supervision of a professional.
2. Dry Cleaning Business
A dry-cleaning business may not be as profitable as other service-based businesses but it’s still a good source of income if you are interested in starting a business from home and have some spare time on your hands. The average annual salary for dry cleaners is $30,000 per year. However, if you decide to purchase an existing dry cleaning shop, the profits can be much higher than that.
Dry cleaning is a service-based business that can be extremely profitable. It involves the cleaning of clothes and other fabric items using a dry cleaning machine. This type of business can be started with a small investment and can be run from home. The key to success in this business is to provide a quality service at a reasonable price.
3. Pet Sitting Business
Pet sitting is another great service-based business that can generate good profit for you if done right. People love their pets more than anything else and they would pay anything for their pets’ safety and comfort when they are away from home for extended periods of time such as vacations or work trips.
The average annual salary for pet sitters is $25,000 per year but this number can go up significantly depending on how many clients you have and how often they use your services. A pet sitting company called “The Pawsitive Team” generates over $1 million in revenue with only 3 employees working part-time!
4. Child Care Business
A child care business is one of the most profitable service-based businesses you can start. You do not need to have a degree or any certification to start your own child care business. If you want to open your own child care center, you will need to get your certification and license before starting your business. The average annual salary for a certified child care worker is $23,000 per year.
There are plenty of reasons why starting a babysitting or child care business could be a great idea for you. Not only is it a very rewarding job, but it can also be quite profitable too.
5. Home Repair Business
A home repair business is another great service-based business that won’t require a big investment from your side. If you are good at fixing things around the house, then this is an excellent opportunity for you to turn your hobby into a profitable venture. You can offer home repairs services as a part-time or full-time business, and if done right, it will bring in good profits for sure!
One of the reasons why starting a home repair business is a great idea is that this type of business is always in demand. Homeowners will always need someone to fix things around the house, whether it’s a broken faucet, a leaky roof, or a clogged drain.
So there you have it, five service-based businesses that can generate good profit. Keep in mind though, these are just a few examples and your business may vary. The important thing is to do your research, figure out what services people want and need, and offer those services at a price they’re willing to pay.