At some point, everyone dreams of being his or her own boss. While the freedom that comes with starting a business is enticing, there’s a lot of risk involved. There’s no telling what types of endeavors are going to thrive, but in a great post for Fundera, writer and Social Street Media owner Jennifer Dunn lists “The 6 Most Profitable Small Businesses in 2014.” Read on and find out if any are right for you.
1. Construction — With the Great Recession seemingly over, now is a great time to build commercial and residential buildings. As Dunn says, doing so takes a lot of capital and knowledge, but everyone from window installers to operators of heavy equipment are reaping the benefits of the economic uptick.
2. Real Estate — This one’s not surprising, given the building boom Dunn mentions in the previous item. As more buildings get built, more properties go on the market, so grabbing that real estate or broker’s license might not be a bad play.
3. Web Design — The world isn’t going digital; it’s already there. That means lots of demand for folks capable of building apps and websites, and even big companies like to hire talented freelancers to help on these fronts. As a sole proprietor with the right know-how, you can “program [your] own ticket to profitability,” Dunn writes. Graphic designers and digital-marketing specialists are also faring well these days.
4. Pet Stuff — Know why there are 10 pet-supply stores on your block? Because everyone is buying puppies and kitties (and fish and birds) these days, and there’s a major need for not just food and toys, but also grooming, obedience training, and boarding. If you’ve always wanted to work with animals, now’s your chance.
5. Fitness — Spurred by people like Michelle Obama, who’s made it her mission to stamp out childhood obesity, people are trying to live healthier lives. According to Dunn, the time is ripe to open a gym or yoga studio, or to become a personal trainer or fitness instructor.
6. Tax Prep and Accounting — As more and more people start small businesses, the need for number-crunchers to balance their books and do their taxes will also increase.