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It is enriching to run your own business. You may find that starting one is the perfect way to gain independence, solve a problem, and give yourself a unique experience. Despite so many options, it’s tough to choose which business idea to pursue.
American entrepreneurs have opened their businesses in more significant numbers in recent years. With the U.S. ranking 91.6 out of 100 for ease of starting a company by the World Bank, it should come as no surprise. Since the start of the previous decade, the number of business applications has continually risen, according to the U.S. Business Formation Statistics (BFS).
The following sections of this article outline seven business ideas you can start and become profitable. It further illustrates the reasons that make them unique.
- Cannabis Business
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Cannabis is an industry that is snowballing. As a result, entrepreneurs interested in this rapidly expanding niche will find plenty of business opportunities.
The Market Study Report estimated the global cannabis market to be valued at nearly USD 20.6 billion in 2020 and to grow at an estimated growth rate of over 28.5% between 2020 and 2027. Here are examples of Cannabis business ideas:
Cannabis Producer
Someone needs to grow cannabis first to produce or sell the products for this market. As a farmer or grower, you can start a company by supplying plants that then process and turn them into products.
Licensed Distributor
Some states also call for retailers and other businesses that sell cannabis-based products to deal with distributors directly. They need them to manage cannabis products across the state. For instance, you can distribute weed vapes and can Find the Best Weed Vapes at Weed Smart for those looking for a heavier hitting high.
Edibles Seller
You might be more creative in how you present your products if you decide to sell more than just primary marijuana products. You can get marijuana edibles as cakes, candy, or even hot sauce.
1. Freelance Copywriter
Many writers and editors have the opportunity to work as freelancers. Companies often hire freelancers or contractors for part-time work. Often, businesses find this to be a cheaper option since they do not need to provide employee benefits while still receiving quality work.
Irrespective of your skill level or where you are on your career path, the freelancer’s market is vast. Freelancing sites like Upwork are a great place to start. Nevertheless, a few sites require a fee, like Fiverr, Upwork, ProBlogger, etc. You can, therefore, create a website and showcase your portfolio if you aren’t interested in following that path.
2. Photography
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Do you always take pictures? Do you always carry an expensive camera everywhere you go, just in case you stumble upon a perfect shot?
Approximately 17% of all photographers will get employed between 2020 and 2030. You can become a successful photographer by turning your hobby into a business.
3. Cleaning Business
Cleaning businesses are among the most profitable business ideas to start. Cleaning is an uphill task, and working professionals lack time to do it.
According to the Small Business Development Center Network (SBDCNet), the cleaning services industry makes over 46 billion dollars a year.
In today’s society, this high number shows the increased demand for cleaning services, and that demand only grows year after year. How about the best part? This business idea requires little capital to get started.
4. Landscaping Business
According to industry analysts, the U.S. market size for this industry will rise to over $105.35 billion in 2021.
You can start a landscaping business if you enjoy gardening and spending time outdoors.
You will have to:
- Know the basics of lawn care and landscaping.
- Analyze the market.
- Get your landscaping equipment, such as lawnmowers, edgers, weed eaters, etc., rented or bought.
- Online Courses Business
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By 2020, the e-learning market was worth $250 billion. During 2021-2027, Global Market Insights predicts the industry to grow at over a compound annual growth rate of 21%. However, how can you get started with an e-learning business?
Create your online course by analyzing what you’re good at, determining if your skills are in demand, and launching it.
You can also hold personalized tutoring sessions and question-answer sessions with them, along with pre-defined course materials. Several online course platforms are available that will allow you to create, host, and market courses online. Thinkific and LearnWorlds are good examples.
5. Open an Accounting Firm
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Would you be interested in bookkeeping, tax preparation, and managing finances? If you’re an expert in numbers, you can start an accounting business. Accounting is still in high demand.
Unlike most business ideas in this list, the best way to become an accountant and open your firm is to get the proper education – you typically need a bachelor’s degree to get there, and you’re likely to need CPA certification as well.
Wrapping up
You can have a wonderful experience starting a business if you know what you’re doing. It would be best to do thorough market research after picking an industry you’re interested in from the above.
Decide on your competitive advantage and then develop content that validates that advantage. Keep yourself active and social. Take your time and enjoy the ride.
References
- Business Formation Statistics
- Global cannabis market Size study, by Product Type (Flowers, Concentrates, Other), by Application (Medical, Recreational), by Compound (Tetrahydrocannabinol (THC)-dominant, Cannabidiol (CBD)-dominant, Balanced THC & CBD), and Regional Forecasts 2021-2027
- E-Learning Market Trends 2021, Global Forecast Report 2027
