For all of the visionaries and entrepreneurs with their sights set on owning a profitable retail business, I applaud you.
You already know that owning your own business requires a solid business plan, capital, and commitment.
What you don’t know is what retail businesses are the most profitable?
We've put together a list of suggestions that are reputed to be the most popular and conceivably the most profitable retail businesses to start.
Before we crack into that let me give you the quick scoop on me.
ABOUT THE AUTHOR
Hey, I'm Ippei!
Until 2014 I did the grind and was working in a corporate job from 9 to 5.
I hated every minute of it. Not only was it soul-crushing, but it didn't give me any time to pursue my bigger goals or focus on profitable retail ventures.
That was until I discovered a method to rank sites organically, generating free leads for my clients.
That website you see above, for the tree care company, I created it in 2015, and since then I haven't had to touch or update it:
It has gained me a passive income of $2000 a month.
That's more than $100,000 for one site, in 5 years.
That's the magic of the Lead Generation business, it's by far the best model to generate passive income. If you want to know more, just hop over here, and now let's take a look at those retail businesses.
1. COFFEE BAR
It’s all about location and you need to establish in a high-traffic avenue if you hope to make money.
There are several things to consider when opening a coffee bar including:
- Will this be a sit-down location or a cart/kiosk setup?
- Do you wish to franchise?
- How much are you willing to spend on equipment and supplies?
- Non franchised coffee bars average $200,000-$350,000+
- Drive-thru options equivocate to $80,000-$200,000
- Franchised enterprises equate to $700,000
There are a few non-negotiable costs to think about like:
All are dependent on your location, and you need to understand the ergonomics of this business model to be successful.
Here is an article outlining specific details and note that substantial coffee shops-multiple locations and franchises generate around 15-70%, small independent shops and kiosks will only etch out about 2.5%.
2. TEA ROOM
Tea is becoming increasingly trendy and there is a market for tea rooms if you do your research.
Know the types of tea and accompanying foods-think ‘high-tea’ with scones and clotted cream.
Opening a tea room can cost upwards of $100,000, however, you could launch a kiosk for only several thousand.
Plus, you could double dip by starting an online tea business, and serving that to your tea room & kiosk customers.
Equipment and fixed costs are factors to also consider.
Adding a retail section will generate some additional capital, but the reality is your ROI will depend primarily on your menu, sales, and final numbers.
Reports indicate profit margins of 400%, but truthfully it is more like 40% and you'll need to figure out:
- What the competition looks like.
- What can you offer to set your biz apart?
- Who is your ideal target market?
If you like the sound of this most profitable retail business, check out this article offering additional information about starting a tea business.
3. JUICE BAR
Americans are making a concerted effort to be healthier. This health-conscious trend has created a market for juice bars that has risen 4-8% in the last decade. making now the ideal time if considering starting a juice bar.
Juice bars cost $47,000-$400,000 to open depending on franchise and overhead costs, but this billion-dollar industry has the capacity to generate an average revenue of $100,000-$600,000+.
Want to learn more? Check out this post sharing some industry tips to get you started.
Considered a ‘luxury item’ you will need to conduct market research to ensure your geographical location is in proximity to an economically viable consumer base.
If you plan to charge $5-$10/smoothie you need to think up-scale populace (think areas with a decent disposable income-Millennials and even the GenZrs).
With an estimated ROI of $700,000+ there is no question that this is a profitable retail business.
Even if you opt for the franchise after the first year you will be able to carve out a lucrative business for yourself.
Franchises such as Jamba Juice cost around $600,000+ to open, however, independent options will run you around $10,000+.
Check out this informative article for more details.
5. BUBBLE TEA STAND
This Asian-infused concoction is not only super easy to make but is becoming increasingly popular for American consumers.
A unique and profitable retail business, there is definitely not as much competition as a traditional coffee shop.
The key is in the making and ingredients of your bubble tea so be sure to educate yourself on best practices for preparation.
Franchise options such as Gong Cha are a ten year and 4.5% annual sales fee and cost $180,000-$345,000 which you can review here.
Should you opt for the independent option and are able to minimize costs with used equipment and decent rent, you are looking at a start-up of around $15,000+.
Markups on bubble tea average 350% generating you a profit margin of 60-80% and if you're interested in starting a bubble tea stand, take a look at this publication.
Craft beer is where it’s at. Granted you will always have the die-hard ‘silver bullet’ fans, but more and more people are interested in expanding their palates and exposing themselves to a new experience.
This is not an inexpensive undertaking.
Costs can run upwards of $100, 000 to over $1.5 million before you even brew your first batch, but there are franchise options available which are outlined in this post.
7. WINE BAR
It is feasible to open a wine bar on a budget of around $50,000, however, to set yourself up for success you should plan to invest at least $130,000.
Wine bars are rapidly gaining in popularity.
But the key is to keep it simple, no need for a haute couture menu.
Cheese and charcuterie boards are more than acceptable and allow the wine to be the star and cut down on food costs.
There are a number of franchise options available averaging $200,000-$600,000 which you can check out here.
While there is a tremendous mark-up option on wine, sales will dictate your ROI, but you can expect between 5-30%.
8. ICE CREAM SHOP
Everybody loves ice cream! Despite the threat of seasonality, this most profitable retail business has the potential to generate an impressive ROI.
Gone are the days of the dollar cone unless you’re hitting up the McDonalds drive-thru on a hot summer day, but you need to:
- Know your product inside and out
- Be on-trend around the current tastes
- Know the preferences of your potential customers
9. DONUT SHOP
Dunkin Donuts requires $250,000+ to own a franchise, and there are numerous other franchise options you can read about here.
Create your own sugary concoctions for approximately $3000-$10,000. Investigate used and rental options to cut down on equipment costs.
This insanely popular option has the capacity to generate a profit margin from 0-75%.
It all comes down to sales, how you market your dough, and knowing your niche/target market with this most profitable retail business idea.
Figure out your business plan and access the competition.
If you're looking to learn more, check out this article sharing some excellent tips and suggestions.
10. GOURMET POPCORN STAND
Investing in these aromatic salty morsels may be simpler than you think, and you can open a popcorn stand on virtually any street corner-especially one with lots of kids.
If you are just opening a stand or farmer’s market type venue you can virtually start with under $10,000.
Franchise options like Doc Popcorn require a $39, 000-$340,000+ investment, and obviously brick and mortar locales will cost you more to get off the ground.
But the cost of equipment can be broken down to under a few thousand dollars.
This article provides some insight into starting out with gourmet popcorn, and if funds are tight this is one profitable retail business idea, this one is definitely worth its salt.
11. CHOCOLATE BOUTIQUE
This is a bit of a catch 22. If you opt for the smaller more ‘boutiquey’ style chocolatier option your profit margin stands to be between 55-70%.
BUT you will be on the hook for branding, marketing and promoting your wares-and you still have to make the chocolate, though you could save a bit of cash and start an online boutique out of your home.
The flip side is investing $50,000-$200,000+ for storefront or franchise alternatives.
Substantial volume companies who choose to utilize less expensive products generate around 10% ROI.
So it really comes down to your niche and ideal target market.
Check out this article on how to start a chocolate business.
12. SANDWICH SHOP/DELI
If you have purchased a sandwich you know what I’m referring to when I say mark up-yikes!
Clearly there is money to be made in sandwiches.
And ones with culture are the most successful and profitable retail businesses going, but you need to:
- Create an atmosphere of community
- Secure loyal customers
Independent ventures can run anywhere from $100,000-$300,000+ and there are the usual suspects in terms of franchises which you can read more about here.
Expect to shell out around $155,000-$250,000+ for a franchise with a profit margin of approximately 20%.
13. NOODLE BAR
I’m not talking about the .22 pre-packaged noodles with the sodium infused packets of flavoring.
Ramen noodles, when made in the traditional Japanese style, are not only a delicious but relatively low-cost items to prepare.
You need to be prepared to put in some LONG hours and a lot of hard work to succeed. With the option to open a restaurant or kiosk-style you should plan on investing a minimum of $100,000.
Franchise options such as those listed in this article require an investment of $370, 000+
But noodle bars are reported to have an average sales to investment ratio of at least 2:1 making this a profitable retail business idea.
14. ORGANIC FOOD STORE
As people become more cognizant about where their food comes from, more and more consumers are opting for organic options.
In order to generate success with this business idea, you need to connect with local producers.
Here is an article worth reading for more information.
Embedding yourself and your brand into the community not only achieves greater awareness but substantially increases your potential client base.
Create a shopping experience that is above and beyond customer expectations and aligns with their healthy lifestyle.
Like any storefront, you will need capital, an ideal location and a clear understanding of our target market.
Organic food stores generate a profit via sales and average a 2-3%ROI.
Consider adding a hot station or food to go option and you may be able to increase your profit margin to 5-10%.
Focus on local-sustainable and fresh produce, and build a reputation as the go-to store and see your profit margins soar with this most profitable retail business to start in 2021 suggestion.
15. CATERING COMPANY
Pick your niche and then downsize. The more specific your target market, the better your chance of achieving success.
You can start a catering company from your own home which drastically reduces start-up costs.
Plan to invest between $10,000-$50,000 and you should be able to see a profit margin of 15%+.
A few tips and questions to consider before jumping in head first:
16. MEAL PREP AND DELIVERY SERVICE
Everyone and their brother have heard of the boxed food delivery services like ‘Hello Fresh’ and Blue Apron.
But people appreciate local and if you choose your target market wisely, you have the potential to earn 15%+ ROI.
A few of the more popular choice for meal prep and delivery currently are:
KETO & PALEO
High Protein & Seniors Menu
Gluten-Free & Diabetic
You need a user-friendly website with an online order platform, and a solid plan on how to create traffic.
Determine price points and potential overhead. By starting out of your home you can cut costs but should still budget around $10,000+.
This article offers some great insight on how to make this most profitable retail business make you some money.
17. FOOD TRUCK
Owning a food truck or food cart is conceivably a much more cost-effective option to owing a restaurant.
The reality is you can kit your truck or cart for around $30,000-$100,000.
It is imperative that you choose your cuisine with a location and target market in mind. Secure the required equipment and wholesalers and be prepared to market your business like crazy.
Food trucks have become increasingly popular. With the luxury of moving location in accordance with foot traffic, you stand to generate a decent profit margin if you perform your due diligence and devise a business strategy before starting.
Check out this article if you are interested in starting a food truck.
Typically food trucks earn a profit margin of approximately 6-10%, surpassing the average 5% of restaurateurs.
Making this a profitable retail business riddled with potential for success.
An extremely lucrative business there will always be a demand for cosmetics. There are two trains of thought with this suggestion.
Sell established products, or create and market your own makeup business.
But you need to adhere to a few guidelines in order to be prosperous:
- Understand and Adhere to FDA Regulations
- Locale-where will you sell your cosmetics? Storefront-online-in home?
- Niche-who is your target market?
- Online Presence-create a website and social media accounts
- Publicity-get the word out EVERYWHERE!
- Brand Awareness-why should people buy your cosmetics?
- Marketing-how will you sell and generate interest in your products?
Clearly there is a ton of money to be made in cosmetics, but it is your responsibility to put yourself on your map.
Whether you opt to sell your own or connect with a franchise or MLM, this article can help you start a cosmetics business.
19. BEARD OIL
Let’s not forget about the gentlemen. Beard oil has been around for over a decade but has really started to gain traction in the last five years.
Granted this most profitable retail business suggestion is geared more towards online sales, but don’t be too quick to shrug it off as a profitable endeavor.
This market generates nearly 6 billion in annual sales, and all you need is an e-commerce website and the ability to generate a steady influx of online traffic.
It's a competitive market so do your research.
Add some additional toiletries and items and you have the potential to own a valuable passive income stream. Check out this informative article for details.
This virtually untapped market has huge scalability potential. Fragrances essentially sell themselves.
So whether you choose to make and sell your own products or become a reseller and utilize wholesale products there is money on the table with this most profitable retail business suggestion.
The mark up on perfume is around 90% making this a very compelling idea.
With storefront, home or online options, there is no limit to marketability with perfume.
Liking the sound of this most profitable retail business idea? Check out this article offers some additional tips for success.
Given that our skin is the largest organ on our body, it goes without saying that there is a tremendous market for skincare products.
Do your research and choose your niche carefully.
Sell your own skincare merchandise, purchase resale from a wholesaler, or align with an established company, but you need to choose hot ticket products.
Think anti-aging, acne, organic.
What is selling NOW?
Price to sell, but don’t undercut your profits.
There is the potential for an ROI of 33%-80% in sales generated by skincare, and this article gives the a-z on how to start a skincare line.
22. BATH BOMBS
Who doesn’t love bath bombs? Kids and adults alike enjoy these fizzy, fun and unique commodities.
The wonderful thing about bath bombs is they are ridiculously cheap to make.
You can manufacture and package your homemade products with minimal start-up fees or equipment. If you’re not crafty, don’t panic as there are numerous wholesale options available.
The challenge is where and how to sell them.
Consider these suggestions to establish a profitable enterprise:
Research potential wholesalers or ingredient suppliers
Determine your price point & what types of bath bombs will you sell?
How will you sell-online, consignment, store, from home?
Who is your target market?
This publication offers options on how to create and sell in order to generate the best possible ROIs with this most profitable retail business idea.
23. SUBSCRIPTION BOXES
This profitable retail business suggestion offers the flexibility and luxury of being performed from home.
A low-cost investment startup you can sell your subscription boxes both online and in your local market.
Popular subscription box ideas include:
- Kids Toys and Educational Products
- Food and Confectionery
- Beauty Products
- Athletic and Sportswear
- Pet Products
Choose your target market and price point.
Determine where you will purchase your inventory and how you will handle shipping and order details.
This article breaks down how to start and become successful with subscription boxes.
24. SPRAY TANS
Who doesn’t look better with a tan?
When you look good you feel good, but with all of the warnings and cautionary publications around harmful UV rays and the ozone layer no one is risking the au natural these day.
Hence a demand for spray tans. Advancements to products now deliver a natural glow as opposed to the obscene orange of the ‘80s.
Dirt cheap to become certified as a spray tan technician-this most profitable retail business checks all the boxes.
Equipment costs are minimal.
And you can literally launch a mobile business for under $2000.
A competitive industry, how you market yourself and your brand will be your calling card for generating a hefty ROI with this enterprise.
Check out this article to learn more about how to start a profitable mobile spray tan business.
25. TEETH WHITENING
Similar to mobile tanning there is a ton of potential to generate an impressive return on your investment. It is worth noting that the real money is made in the training courses.
If you can obtain accreditation to train others in this skill set, you will increase your ROI astronomically.
Online training typically costs around $500-$2000 and there is a large demographic in which to obtain clientele.
This post offers some suggestions and inspiration on how to start and become prosperous with this most profitable retail business suggestion.
26. NAIL SALON
The average nail salon owner brings home between $40,000-$75,000/year.
But a lot of hard work and a solid business plan need to be in place before you decide to launch this retail business.
Location is KEY.
You can choose the brick and mortar option or offer a mobile service, but no matter which avenue you choose, in order to be profitable you need a substantial client base.
Plan to invest $75,000-$100,000-less if you opt for the mobile route.
Here's an a-z post on how to start a nail salon.
27. HAIR SALON
Starting a hair salon has the potential to be a very lucrative business opportunity, but it's essential that you understand market analytics, determine your brand and choose your locale with care.
You have the option to provide in-home services, start from scratch, purchase an existing business or partner with franchise establishments.
Realistically you are looking at startup costs between $100,000-$500,000+ with a potential ROI between 8-17% for this most profitable retail business to start in 2021.
There is the opportunity to rent out chairs that have become increasingly popular with stylists and would help alleviate overhead costs.
This article offers some helpful suggestions on how to generate the highest rate of return on investment.
There’s nothing like an old-fashioned barbershop.
Offer things like:
Set yourself apart from your competitors, keep up with market trends and current styles and consider adding a retail section and the opportunity for a hefty profit margins.
You should plan to invest $150,000-$200,000-add another $25,000 if you choose to own a franchise.
Read through this publication for specific details on how to start a successful barbershop.
Profit margins are reported to equate to around 10-30%+ for this retail business startup.
Microblading is one of the newer crazes in the beauty industry. The quest for the perfect eyebrow consumes the minds of many women.
Technological advancements have made this process a popular option.
Plan to invest around $4000 for certification, but this cost-effective enterprise can be done out of your home which cuts down startup costs.
Should you choose to open a salon, plan on spending around $25,000+.
Here is an article offering further insight regarding opening a salon.
Either way-there's money to be made in this industry.
With a potential profit margin of 30-50%+, this is one of the hottest retail business ventures of the decade.
Lifts-tints-extensions-everything EYELASHES. People are more willing than ever to pay for quality eyelashes.
The eyelash industry is expected to be worth over 1.6 billion dollars by 2025, making this an ideal time to launch this scalable and most profitable retail business.
In-home, mobile, salon and franchise options will equate to their own cost structures, and you can invest as little as $1000 to over $100,000 depending on your business model.
Looking at a rate of return on investment of 30-50%+, this article offers valuable insight on how to start and become successful in the growing world of eyelashes.
While it’s true that you will need capital of $100,000+ to start a medispa, consider these statistics:
- Medispas generate on average $1 million annually
- 38% gross profit margin
- When offering a retail section your client retention has the potential to increase by 60-90%
- Potential for growth outside of core demographics
- Add these services to your location to generate an even more substantial revenue
Location, product line, services, and employees are vital components for launching a successful medispa.
Check out the suggestions in this article for additional information.
Consider the massage business as a profitable retail opportunity. As more insurance providers willingly cover massage therapy, the demand for this service has increased exponentially.
You could potentially start a massage business out of your home for as little as $6000.
If you choose to expand into a brick and mortar location, you are looking at an investment of around $100,000-$500,000.
There are also a host of franchise opportunities, but most require liquid capital of $100,000 and an investment of $500, 000+.
The average ROI for massage owners is approximated at 10-15%+.
But as massages continues to gain in popularity and see increased market growth- so will your profit margin.
Here is an article on things to consider if you are interested in starting a massage business.
The key to being successful with this most profitable retail business idea is to niche down. Don’t be a ‘math tutor’-offer your tutoring skills specifically for calculus or algebra.
It may sound crazy, but this article offers an interesting perspective on how this method actually increases your profit margin.
You can start out of your home or travel to client residences equating to virtually no startup costs.
Obviously, should you choose to open a brick and mortar establishment or enter into a franchise arrangement you will be looking at an investment of $100,000+.
Your profit margin will be dictated by how many hours you work, what you charge and the option you choose to pursue, and keep in mind that tutors vary significantly with regards to hourly rate-anywhere from $10-$100/hour.
34. COMICS AND COLLECTIBLES
As the Pokemon craze rages on there will always be an interest in comic books, collectibles, and trading cards.
The largest portion of your investment will go towards merchandise, and you'll need to stock your shelves with unique and one of a kind treasures that can be costly.
Plan on investing between $10,000-$25,000 on product alone. To alleviate costs, look for a high traffic area locale with decent rent.
Markups on comics and collectible range between 30-50% so clearly the more you sell the more money you will make.
You have the option to utilize online sales in addition to your physical sales which will generate more revenue.
This article offers some suggestions on how to start a comic book store.
35. VIDEO GAMES & DEVICES-NEW AND USED
If you know a gamer you understand just how addictive video games can be. The reality is that they are expensive, so many people, but particularly children, opt for second-hand selections.
Your biggest challenge will be the onslaught of options to buy online. Consider adding an ecommerce platform to capitalize on both avenues.
This most profitable retail business idea won’t make you millions, but there will always be retro gamers and kids looking to save a few bucks who enjoy the physical location not only for the selection but for the experience.
Your most significant investment will be your product, however, by implementing a buy-sell program and loyalty cards you can generate additional profit.
If you’re interested in learning more check out this article for inspiration.
36. CONSIGNMENT CLOTHING & EQUIPMENT
Children are costly. The cost of clothing and equipment can be astronomical for parents resulting in many purchasing second hand items.
A brick and mortar store will run you $2000-$40,000+, or you can opt for franchise models that require around $200,000+.
By selling on consignment you won’t spend as much on your product but may face turnaround issues.
Typically consignment takes 60% of the profit but your ROI will more than likely be between 3-5%.
Worthy of consideration is that consignment stores and thrift stores are reputed to be ‘recession-proof’ suggesting that there is less risk associated with this profitable retail business model.
This publication takes some of the guesswork out of owning a consignment store.
37. INDOOR PLAY GYM
Obesity in children has become somewhat of an epidemic in the USA.
More parents have become conscious of their children’s health, and are willing to spend money on opportunities to engage them in physical activity.
Indoor play gym’s cost between $10,00-$200,000+ to open.
But there are a few things to consider before you launch this endeavor:
- The number of children in your community between the ages of 1-12 years
- Demographics and disposable income for your geographical location
- Location and size of the physical space
- How will your playground be unique from that of your competitors?
- How large do you want your play structure to be?
- Color-theme and design
- Toys and activities
- Brand and marketing
Successful entrepreneurs are able to recoup their investment in as little as 6-12 months and reports indicate an ROI of 70-100%.
Whether you choose to launch your own brand or be affiliated with a franchise, this is one most profitable retail business opportunity to consider.
A competitive and high-demand industry, while there is potential for significant earning, this is definitely not one of the most advantageous investments.
With options to run a daycare facility out of your home, you will minimize start-up costs ($5000-$10,000+) but are limited to the number of children you can care for.
Opening a daycare facility will equate to $100,000-$750,000 depending on scalability.
Predicted to grow by $40 billion dollars in the next 2-3 years, I would suggest giving serious thought to opening an eye wear establishment.
With a reported profit margin of 10-40%, there is a significant opportunity to generate a healthy income stream with this most profitable retail business idea.
By adding an online option to your storefront, you increase your sales by connecting with more customers.
Open your own optical shop or opt to franchise, but plan to invest around $20,000-$85,000+ as reported within this publication.
You won’t need a large space, but you will need a location that is not only popular but in close proximity to women (and men) who have money and are fashion conscious.
Selling high-end purses, luggage, and wallets can generate a substantial income if you play your cards right.
Research and understand your target market.
By adding online options you increase your capital, and note that quality pieces generate a higher ROI so connect with established brands for resale.
Like the sound of this most profitable retail business idea?
Check out this post that offers recommendations on how to initiate a profitable handbag/purse store.
41. SHOES & ACCESSORIES
Shoe stores are one of the most profitable consumer goods to sell.
Generating a profit margin of around 40% this retail business idea offers a substantial return on your investment.
Plan to spend $200,000+ to launch an independent facility, however, there are numerous franchise options available which you can learn about here.
Location and an understanding of your target market are key considerations.
Determine your brand-will you opt for a mid-range price point or high-end fashion?
Want to learn more about this most profitable retail business idea?
Check out this article on how to begin.
Jewelry is a versatile market, but one thing is guaranteed, people will always buy jewelry, but the key is to develop your brand, create your niche, and understand the spending habits and styles of your target market.
Consider the following
Create a business plan and budget for an investment of $10,000-$250,000+.
With options to sell jewelry out of your home or online the amount, you need for startup costs varies as considerably as the styles of jewelry available for resale.
This article may be of assistance in breaking down cost analysis.
43. PLUS SIZE CLOTHING
TLC's 'My Big Fat Fabulous Life' has brought to the forefront of the importance of inclusion.
The fashion industry has grabbed this bull by the horns, increasing its offerings of plus-sized clothing lines.
This idea is niche specific.
With an identified target market, fine-tune your marketing strategy and be prepared for big payouts with this most profitable retail business recommendation.
Options to open a storefront, digital asset, or a combination of both will dictate your initial startup costs and the opportunity to generate a substantial return on your investment is limitless.
Size remains a touchy subject, and people prefer curvy, bodacious-anything, but PLUS.
Check out this UK based article for additional information and suggestions that also apply to an American run establishment.
44. BIG & TALL MEN’S CLOTHING
If you are a ‘big guy’ the struggle is real when it comes to finding quality clothing that fits well.
The need for big and tall men’s clothing in the USA is no joke.
This market caters to a specific client base so half the battle is won in determining your niche and marketing strategy. Stores offering this selection of clothing can also have an online option which will increase sales.
Like any brick and mortar, the investment will be upwards of $200,000+ and with an optimal location and a solid business plan you stand to earn a significant return on your investment.
45. THRIFT STORE
The most crucial factor when deciding to open a thrift store is whether to make it for or not for profit.
While it is infinitely easier to get donations for nonprofit establishments, there is a ton of red tape and you are on the hook for donations.
Profit thrift stores are easier to launch, but you may run into issues acquiring saleable goods.
The reality is that it takes a tremendous amount of legwork and a decent investment to run a successful thrift store.
If you make your thrift store an LLC (Limited Liability Corporation) you not only save yourself a shite load of tax but don’t have the added stress of worrying about personal liability from your store.
Obviously online thrift stores are cheaper to set up and maintain thereby increasing your profit margin substantially.
But don't underestimate the attraction of a brick and mortar establishment with this most profitable retail business idea.
This article may help you make a more informed decision.
46. STREET WEAR
Estimated at 300 billion dollars, this most profitable retail business idea remains virtually untapped.
Becoming increasingly popular with men and millennial's, there is the potential to generate an impressive return on your investment with street wear clothing brands.
Options include brick and mortar establishments requiring $100,000+ capital, online platforms with minimal startup costs, or a combination of the two.
Because this trend is most popular with millennial's, you must utilize their favorite means of communication to market your wares.
Think Instagram, Snapchat, Twitter-lots of pictures, and word of mouth will go a long way in generating a buzz and producing a steady stream of potential customers.
If you plan to have an actual storefront, consider a location with a college or secondary school nearby.
Here is a great article to help you start a clothing line.
This most profitable retail business idea is more suited to online and social media platforms.
Not saying that an actual brick and mortar store selling athleisurewear would not generate an income, but studies indicate this suggestion is more popular with online shoppers.
Reported to be worth $215 billion by 2022, the athleisurewear trend is taking the country by storm.
Popular and lucrative, your best bet is to connect with influencer marketing.
Social media-especially Instagram and Facebook Ads-will generate a steady stream of clientele
Minimal startup costs would include a dependable e-commerce site, capital to invest in paid advertising, and a comprehensive understanding of your target market.
Connect with reputable companies or create your own line, but there is definitely money to be made with this venture, and if you're interested, check out this article on how to create a successful athleisurewear brand.
48. WORK WEAR
This most profitable retail business idea will be most profitable if you again niche down.
Consider the following:
- Who is your target market?
- Is there a demand for your product?
- What is your competition selling?
- Who will be your supplier?
- Storefront-digital asset or a combination of the two?
- How will you market your brand?
This insightful article may be of interest to you before you consider investing in this business model.
49. COMPRESSION CLOTHING
This market has not been exploited, making now the perfect time to consider this retail business idea.
No need to engage in medical proclamations.
People use compression and posture improving clothing to reduce swelling and 'hurt.'
But it's common knowledge that it is only an aid, so market accordingly.
Online options would be my suggestion, but you could open a store and combine the two.
Understand your client base.
Who are you catering to and how you advertise your products will go a long way in generating not only sales but your bottom line.
And get an better idea on price point and the best strategy to generate substantial profits with this most profitable retail business idea.
50. SMART DEVICE
Not only the wave of the future but a simplistic and cost-effective way for homeowners to manage their property with ease, smart devices are becoming part of the norm.
Elevated sales are not diminishing, making now the ideal time to engage in this profitable retail business idea.
Read more about the most popular devices currently on the market in this publication.
How you sell and determining your target market is imperative, but with proper planning and advertising-be it through PPC or banner ads, etc.-done correctly, you stand to capitalize on a minimal to no startup cost retail business endeavor.
Everyone has seen crazy videos on YouTube and Facebook of cameras catching outrageous incidents on film.
These handy little cameras are better known as Dash Cams.
Similar to the GoPro, DashCams are situated on a vehicle's dashboard. Their acclaim is skyrocketing, making a resale venture a most profitable retail business opportunity.
People not only love their devices, but most also depend on them for constant communication throughout the day.
The issue with any device is power.
Battery's die, and without a backup plan, could potentially leave someone stranded.
Enter the power bank.
Power banks are mobile chargers that allow you to charge a device in advance to use later.
This market is climbing the ranks in quick succession and is estimated to be worth over 17 billion dollars by 2024.
The list of options is basically endless. From computers to iPads, android and cellphones, accessories are a limitless field of opportunity.
The key factor in generating a solid profit margin is determining what you will sell.
Market research and understanding your target audience are key components.
Because there are so many options, it is wise to narrow down your niche.
With knock off or high-end quality merchandise available you will need to ascertain what your ultimate goal is-aside form making come killer coin obviously.
This article focuses on cellphone accessories, and provides information on how to get after it with this most profitable retail business to start in 2021.
Everybody wants one! Smartwatches are insanely fashionable. If you don't have one you're considering it, making selling this item a brilliant suggestion.
People use their smartwatches for everything, from tracking steps to booking appointments and, of course, telling time.
Online-specifically dropshipping- is the way to go.
Boost your sales with blog posts, ads, social media platforms, virtually everywhere you can put yourself in the online space.
Narrow down your niche to streamline your clientele and your sales margin, and there's money to be made with this most profitable retail business suggestion.
Check out this article to learn more.
55. WIRELESS HEADPHONES
Wireless headphones are not only uber convenient but are rapidly growing in popularity.
Reported to grow to $15.8 billion by 2025 resale of wireless headphones is a suggestion to consider.
Bluetooth and WiFi are making these technological sensations more affordable and super easy to package and ship.
The best course of action for the highest rate of return would be online.
Dropshipping or Affiliate Marketing strategies would gel perfectly with this niche and minimize start-up costs.
The crux will be your brand and marketing blueprint, so take a look at this post for more information.
There are as many ways to sell as there are items accessible for sale.
How and what you sell should be determined by a few considerations:
Who is your target market? & How do you plan to sell your products? (e-commerce-location-fulfillment-drop shipping)
Where will you purchase your wholesale items? & What is your projected profit margin?
How will you market yourself and your products?
This article offers some fantastic suggestions on not only where, why and how to sell electronics, options for purchasing wholesale and other useful information.
57. VITAMINS AND SUPPLEMENTS
Healthy living and physical well being are becoming increasingly important in today's society.
It's no longer just die-hard fitness fanatics utilizing vitamins and supplements to enhance their overall health.
The elderly, individuals with physical ailments, and people looking to embrace a healthier lifestyle are turning to vitamins and supplements making this one of the most profitable retail businesses in 2021.
There are several options if this suggestion appeals to you.
Online sales clearly have lower startup costs, but a good bet is to combine the two.
Vitamins and supplements generate around a 38% profit margin, but it always comes down to sales.
Be careful not to overcharge if you want to create success and maintain a consistent client base.
58. BAMBOO TOOTHBRUSHES
People are becoming increasingly eco-friendly and environmentally aware, and there has been a dramatic shift in mindset regarding plastic, waste, and everything green.
Enter the bamboo toothbrush.
A popular alternative to its plastic counterparts, bamboo is rapidly gaining searches in the ranks making now an ideal time to sell this product.
Whether you choose to open a dental care store-bamboo shop or add this product to an existing establishment, there is money to be made in bamboo toothbrushes.
Online options-specially Facebook Ads-will do wonders to promote sales and generate a steady stream of traffic to your website or storefront.
How you package, price, and market your product will be deciding factors with regards to your profit margin.
59. REUSABLE BAGS
People are becoming increasingly socially conscious and are making changes to their lifestyle and the daily items they choose to use.
This shift has created an increasing demand for reusable bags.
Whether you decide to add this product to an existing grocery store or home item based establishment, now would be an excellent time to stock up on this product.
Online sales are on the rise, as demonstrated in this article.
An e-commerce site or coupling of brick and mortar and online presence will surely generate cash flow.
You could take this idea one step further and create and sell your own brand of reusable bags, which should equate to around a 30% ROI.
60. AIR SOFA BEDS
Air sofa beds aren't just convenient; they're super fun.
Used for comfort while camping, lounging, extra sleeping space for overnight guests, the list is limitless, and people are buying with a steady incline in sales.
This product could be implemented into your exiting camping, household items, or novelty store, launched online, or a merger of the two.
You could also institute affiliate marketing or drop shipping to capitalize on this most profitable retail business suggestion.
61. WATER REFILL STATION
Numerous concerns regarding the quality of tap water and its drinkability, many people have turned to water refill stations as a solution for their water consumption.
More cost-effective and environmentally conscious than plastic water bottles, there is an increasing demand for these profitable retail businesses to service either residential, commercial, or a combination of the two.
The market is competitive, so there are a few things worthy of consideration before committing to this suggestion:
Who will be your target market? & Who will be your supplier?
What will be your price point? (competitive enough to generate consistent clientele but still generate a healthy ROI)
How will you test and market the quality of your water?
Here is a comprehensive guide to starting a water refill station.
There will always be a demand for water.
How you brand and market your business will determine your overall success.
62. HOME SECURITY SYSTEM
Home burglary is at an all-time high.
More and more homeowners are investing in their safety and installing home security devices.
A broad-brush term applying to cameras, alarms, windows, and a host of other options. You may need to consider 'old school' solutions to profit from this idea.
Door to door and cold calling are a sizeable element in generating sales for this industry.
You do have the option to franchise, which you can check out here.
An online presence will definitely assist you in producing a higher revenue.
Social platforms are virtually useless here as there are stringent regulations around advertising.
You can always try, but my bet would be on the website/ecommerce platform.
63. BABY ADORNMENTS
The baby industry is a no brainer when it comes to determining your target market.
This most profitable retail business idea typically has a definitive target market making the sale of anything and everything baby-related a smart decision.
While the list is endless on items to sell related to infants and newborns, you would be better off dialing into one or two selections unless you intend to invest in a physical location.
The flip side is the online, affiliate marketing, or drop shipping options.
Here it is advisable to pick one or two features until you gain some traction online, and this article offers a list of the top-selling baby products to consider for resale.
64. TRAVEL BAGS
The travel and tourism industry is a noteworthy market for sales but for this most profitable retail business opportunity, dialing down on your exact niche (product item), should be considered.
Travel bags are proving to be a significant seller hitting all-time records in Google searches, and online volume is steadily increasing.
This article provides a list of the most popular travel bags along with pricing guidelines.
But do your research and understand your target market to ensure the highest rate of return on your investment.
65. MIRRORLESS CAMERA
They're new-they're trendy, and that makes now a superb time to consider selling mirrorless cameras.
Whether you choose to add this product to an existing camera store or develop and maintain a prosperous online business, there is currently money to be made with this product suggestion.
Providing the power of a DSLR without the 'bulk,' you want to cater to photographers and enthusiasts.
You need to convince them that they cannot live without this product.
There is a specific target market-get inside their head-determine what motivates them to buy and why they should buy from you.
An insanely competitive market, you will need to secure your brand and marketing techniques early in the game if you hope to finish on top.
66. THROW PILLOWS & HOME DECOR
There is no denying that people love to decorate their homes. Cute accent pieces and unique items transform their abode from a house to a home.
The call for stylish and one of a kind throw pillows has been steadily increasing.
So if you are considering owning an actual storefront-why not consider a home-related product business?
With options to connect with franchises, own independently, or have an e-commerce site, there is definitely potential to carve out a nice profit margin for yourself.
You need to determine your target market and what items you purchase for resale.
Are you catering to a high-end crowd or establishing a price point viable for all consumers?
This article offers some tips about the market, which you may find useful.
67. CRAFT SUPPLIES
The most important factor when considering selling craft supplies is diversity.
Whether you own an exclusive craft store or opt for online sales tactics.
Your target market is after the most unique products and the fairest price point they can achieve.
68. GIFT BASKETS
Gift baskets offer a tremendous amount of room for versatility both in product and price.
It's a competitive market, but it's possible to be very successful with this most profitable retail business if you do your due diligence and research your target market.
The real money is in corporate accounts, but you may want to start with individuals and work your way up.
An idea you can do from home for under $3000, you need to determine what products you will use and where you will purchase wholesale for the best price. (100% mark up on inventory is more than acceptable as per this publication).
Keep in mind that floral shops offer a similar service, so your competition runs twofold, and the worldwide web will have to be your best friend.
But the more influence you can establish for yourself, your brand, and your business, the more profit you will generate.
69. ARTIFICIAL FLOWERS
There's nothing like having fresh cut flowers to add a dramatic and natural flair to your home.
The problem being that not only do flowers die, but they can become quite costly. Many homeowners opt for artificial variety to enhance their living space and save on funds.
The key to being prosperous when selling artificial flowers is to choose options that best mimic the real deal.
Silk flowers-albeit a little pricier than other options-look the nicest and are closest to the freshly cut variety.
You can add artificial flowers as a selling product for home décor stores, or launch online sales.
Posting on social media platforms and places like Pinterest, where people are already looking for your product, will do wonders to increase your sales and your overall profit margin.
Create a solid monetization strategy geared towards your target market and determine your wholesaler.
Maintaining a gross profit margin of 25% or higher is not only entirely doable, as demonstrated in this post, but completely realistic.
70 CHILDREN'S ENTERTAINER
From character impersonations to clowns and face painters, the options for children entertainers are as numerous as the opportunities.
The most significant sacrifice with this business suggestion is that the majority of your working hours will be conducted on weekends and evenings.
Birthday parties, corporate events, local carnivals, and fairs are all viable employment situations.
There is minimal to no startup cost, but the bottom line to your success will be gaining clientele.
A website and social media presence are vital and never underestimate the power of word of mouth referrals.
Able to pocket the majority of your price, profit margins can be as high as 90%.
Your price tag will depend on your service and the affluence of your customers, and you can check out this article for further information.
71. POP UP PHOTO BOOTH
Granted, this industry is becoming somewhat saturated. But there's still potential to generate a substantial profit if you play your cards right.
The beautiful thing about this most profitable retail business opportunity is that you can use it as a side hustle until you are really raking in the coin.
Your photo booth needs to offer the diversity that your competitors are not offering.
Think theme-mirrors-3-D-there are a ton of new photo booth options you can check out here.
The initial investment is under $10 000, making this a low-cost start-up option.
How you market and brand your business will be the crux of acquiring new and steady clientele.
Consider things like:
Connect with other service industry providers like DJs, wedding photographers, event planners and banquet halls.
Consider offering 'corporate deal' scenarios until you build your reputation.
Utilize online and social media to market your business and generate referrals.
Here is an article worth reading if owning a photo booth business is of interest to you.
72. ‘BOUNCY’ STUFF
Requiring very little overhead-under $5000 starting a bouncy castle rental business can be an extremely lucrative investment.
This industry is growing and expected to surpass $5 billion dollars this year.
The majority of your expenditures will go toward purchase your inflatables.
Check out this article for a head to toe summary of how to make this most profitable retail business successful.
You're looking at an ROI of at least 30-40%.
Research your ideal target market and promote your business accordingly and you will reap the rewards as reaffirmed by this publication.
With franchise options also available the possibilities are endless.
But keep in mind that franchises will require a more substantial investment, between $166,000 and $250,000.
73. PARTY RENTAL SUPPLIES
With the option to start from home or opt into a franchise the rental industry is on the rise.
The key here is to determine what it is you plan to rent.
Tents-dishware-linens-all of the above?
Then nail down your niche.
Here are a few suggestions of profitable markets to consider:
- Wedding Rentals
- Birthday Party Rentals
- Corporate Functions
- Public Events
Not to say you cannot cater to every niche with this most profitable retail business idea, but if you plan on launching this idea from home, it may be more advantageous to start small and build up.
Plan on investing $5000-$15,000, and here's a link to several franchise options to consider.
74. PORTA-POTTY RENTALS
When you’ve gotta go you’ve gotta go.
Which means there's a capacity for a tremendous profit with this retail business suggestion.
Consider your options.
You could rent upscale vestibules for weddings and corporate functions.
The average joe potty for trail runs, public events, and construction sites.
There are dozens of possibilities where a toilet is a non-negotiable item, and there are franchise options available.
Standard potties will run you between $700-$3000 to purchase, while ‘trailer-style models sell for around $950-$3000.
You can rent out each unit for $200-$500+/month and up to $150+/day, and this post offers some useful information on how to start.
75. VENDING MACHINES
With the ability to earn a 15-30% commission on sales, location is where it's at with this venture.
You need to optimize your locale-even better if there is no competition on site and this article provides an in-depth analysis of how to start and become profitable with a vending machine business.
76. PROMOTIONAL PRODUCTS
Business owners in every market depend on promotional products at some level as a means of advertising.
You can opt to own a promo shop catering to your local industries which would require around $100,000-could be less, but let's play it safe.
And the bulk of your investment will be inventory based.
You need to stock up on all kinds of cool things and purchase-or rent-the necessary equipment to cast individual logos.
This article offers information on how to start a storefront promo product location.
The flip-side is to get your re-sellers license-connect with a wholesaler or franchise and launch an e-commerce website.
The ROI in this industry is upwards of 40%, making it a most profitable retail business to start in 2021 top contender.
77. RECORD STORE
Just like corduroy slacks vinyl records have made a comeback.
Despite advancements in technology, people are returning to records to round out their music collections.
Approximately 25% of sales are profit and you are looking at an investment of around $100,000+ to open a brick and mortar establishment.
The bulk of your investment will be geared toward product and many record store owners balance this out by liquidating their own collections.
78. VAPE SHOP
Despite the ongoing controversy around vaping, this billion-dollar industry is reported to see a growth of 20% by 2025.
Making now the perfect time to consider this retail business opportunity.
Each will have its own unique challenges and variance in startup costs.
Determine your target market, provide stellar customer service and if a location, create a ‘smoke friendly’ environment, but be mindful of government regulations which are very clear and can be reviewed here.
79. PRINT SHOP
This industry has the potential to be very lucrative if you hone in on your specific niche and provide a service they demand.
Printing can be broken down into three main components:
- Graphics and Publications
This industry is fast-paced and often extremely stressful, and you need to be able to handle crisis management well and offer exceptional customer service to secure retention.
Initial investment costs range from $146,000-$400,000+ depending on the number of printers, type of equipment and business-related expenses.
Establish and manage continued growth and profitability.
And check out this article for more information.
80. CAR WASH
If you own a vehicle, chances are high that you frequent the car wash on a reasonably consistent basis.
Owning a car wash is like a fight or flight situation, but there is definitely the potential for a significant profit.
But do your market research, and to minimize startup costs, it would be an excellent plan to scout out existing car washes currently for sale before handing over a $700,000+ investment to building a new one.
The other consideration is a self-wash bay or full service.
Each has its pros and cons and will differentiate the overall profit margin.
This article delves into specific details on how to start a car wash.
81. AUTO REPAIR
There will always be a need for auto repair.
As long as people have somewhere to go, they will need to ensure their vehicle receives regularly scheduled maintenance and any required repairs.
It's easier to retain clients than find new customers, so it is paramount that you provide not only exceptional customer service but reliable work.
Plan on investing at least $50,000+ to start your auto repair shop, but this article gives a good overview of key suggestions on how to begin.
Profit margins will vary depending on demographics, price points, the size of your establishment and any specialty services you offer-think high-end vehicle maintenance and repair.
This publication offers some interesting tips on how to increase your profitability and earn a substantial income from this endeavor.
82. FITNESS BOUTIQUE
The fitness industry is a fast-paced, competitive, and trendy market with fads that change as quickly as Hollywood relationships.
Fitness boutiques set themselves apart from box gym incumbents by offering high-end, specialized classes that cater to a decidedly definitive clientele.
Knowing how to diversify and stay one step ahead of what fitness gurus are looking for will be paramount to your success.
This article is very interesting and sheds some light on this industry.
Realistically you could spend between $0 and $1 million to open a fitness boutique-it will all come down to what it is you plan to offer.
But with an ROI of 5%-25%+, you can generate significant income with this most profitable retail business suggestion.
Check out this publication on considerations and how-to's for opening your own studio.
83. PET GROOMING
Americans spent over $72 billion on their fur babies last year, making the pet grooming business an extremely lucrative suggestion.
There are several options to consider with this business model.
Each model has its pros and cons, including start-up costs, and you should plan to invest between $1000-$50,000+.
A highly profitable industry with projected annual incomes reported to be upwards of $75,000, you need to be strategic with your marketing.
Connect with local veterinarians, kennels, doggie daycare's, etc. and advertise your brand to stay ahead of your competition.
This article offers some helpful advice on how to start a pet grooming company.
With an annual gross income estimated between $30,000 and $1 million from one location, there is potential for a significant return on your investment.
But location is key (think areas with student housing, low-income, or overly populated).
Prime targets for successful laundromats that are a flexible, scalable, and easy to manage.
Plan to invest between $200,000-$500,000+ with this most profitable retail business to start in 2021 suggestion.
There are options to buy and remodel an existing laundromat, build new, or opt into franchise ventures.
85. DRY CLEANERS
Rumored to be a dying industry, the reality is that there is profitability in dry cleaning.
Dry cleaners serving an active client base are incredibly profitable, but the onus will be on you to make that a reality.
The key is to cater to your clients' needs.
Millennial's are your most significant target market, so consider offering services in addition to dry cleaning, which will appeal to their 'less than ambitious nature'.
Move with the times and stay one step ahead of market trends, but if you're strategic with your marketing and organized in your execution you will generate a healthy ROI.
Plan to invest between $20,000-$500,000+-more if you opt for franchise ownership or are building from the ground up.
This publication offers insightful strategies on how to launch a dry cleaning business.
The accounting industry is a top contender in terms of profit margin.
With an estimated ROI of 18%+, there are several methodologies to consider concerning this high demand service.
A particular location will obviously require a higher investment-anywhere from $50,000-$500,000+.
As long as business owners and individuals require someone to balance their books and complete their taxes, there will be a need for your services.
This article provides valuable suggestions on how to start a bookkeeping business if you're liking the sounds of this most profitable retail business idea.
If you have a skill set that includes home maintenance and repairs for interior and exterior jobs, considering owning a handy-man business may be a highly profitable endeavor.
With minimal initial investment required (under $2000) your biggest challenge will be gaining clientele and building your reputation.
Consider the following:
Profit margins will be enmeshed with how busy you are and the type of jobs you complete.
You need a website and social media following and be prepared to advertise accordingly to generate a steady stream of clientele.
Expect to generate a profit margin of 10%-15%+.
This article outlines how to plan and execute starting your own handy-person company.
To be a success in this industry, the ideal profit margin is around 40%.
There are numerous facets to the landscaping business, and you should consider a few critical scenarios before investing:
- Who will be your target market? Residential-Commercial-or a combination of the two?
- What specific services will you offer-only lawn cuts-landscape installation-garden maintenance-or the whole package?
- Is there a demand for your services?
- How competitive is the market in our area?
- How will you market your brand and connect with potential clients?
Mowing and maintenance are the fastest-growing elements of this $61 billion industry.
But you need to do your research and create a solid business plan to generate success and a healthy ROI.
This article offers helpful suggestions on how to start a lawn care business.
89. HOUSE CLEANING
Life is hectic, and many homeowners do not have the time or inclination to dedicate hours of their week to house cleaning.
The residential cleaning industry is much easier to break into than commercial cleaning and can be done for little to no start-up costs ($1000-$2000+).
When first starting out, consider doing the cleaning yourself or only hire a couple of people to help.
A competitive industry, you will need to market yourself and create an online and social media presence to best capitalize on potential customers.
By offering a specialized trademark-think folded toilet paper, making beds, baseboards, whatever, set yourself apart from your competitors.
Prices and profit margins will fluctuate based on the economics of your area.
Consider customer loyalty programs, flat rates, or referral incentives to retain clients and connect with new customers.
Read this article for more insight on how to start a successful house cleaning business.
90. WINDOW CLEANER
With recurring revenue and low overhead costs, there is potential to generate significant profits, but you need to be able to weather the storm.
A competitive industry, it is paramount that you do your research, price fairly, and offer additional services your competition is not currently providing.
This article includes helpful suggestions on how to launch a prosperous window cleaning company.
You are a window cleaning technician!
This most profitable retail business opportunity is not the lowest in terms of start up costs-sitting in the middle with a projected investment of around $10, 000+.
Until you establish yourself, consider running this as a part-time job or side hustle out of your home, which will lower overhead costs significantly.
There are a few options to consider before investing in this suggestion like:
- Who will be your target market? Commercial-Residential or a combination of the two?
- Is there sufficient demand in your area? An influx of seniors-homeowners with a disposable income-business owners requiring your service?
- How will you market your brand and outshine your competition?
Your profit margin will depend on the rate you charge and whether you opt for residential or commercial cleaning, but there's potential to generate a steady income.
91. GUTTER CLEANER
Cleaning gutters is not the definition of a good time for the majority of homeowners.
Not only is it dangerous, but it's kind of a pain in the ass.
Hence, many-especially seniors-opt to outsource this arduous yet necessary task, and the need continues to grow.
Reports advise that the industry has risen 5% in the last year, making now an excellent time to get in on the action.
This is a low-cost start-up suggestion that you can commence part-time from out of your home until you begin to generate a steady client base.
With start-up costs between $2000-$6000 depending on the system chosen, it would be easy to recoup your initial investment with the current rates of $75-$250/home.
This article offers some insight on how to begin this business idea if you feel the potential income outweighs the 'potential danger'.
Owning a painting company may be one of the most profitable retail businesses to start.
With a minimal investment ($1000ish) and little overhead, you can generate a profit margin of 20%-30%+.
The key will be understanding your target market and branding your business effectively.
This article offers stellar suggestions on how to successfully open and operate a painting business.
93. CARPET CLEANING
A challenging industry to gain traction in.
You need to conduct thorough market research and ascertain your target market before diving into this business model.
Start-up costs range between $50,000-$80,000+, depending on the size of your corporation.
There are franchise options that you can check out here but expect to front additional capital for this option.
Despite being a competitive trade, if you market your business, provide excellent service, and solidify repeat customers, you can expect to net between 10%-50%+ pre-tax profit.
Here are some market tips on how to start a successful enterprise.
94. HOME INSPECTION
The real estate market is booming.
Sure there are highs and lows, but generally speaking, there will always be people planning to purchase a home.
With the 'buyer beware' mentality, the demand for home inspections is projected to increase by 7%-10% by 2026.
Start-up costs will vary depending on your vision. Will you be a one-person operation or employ a team of trained professionals?
At a minimum, you should plan to invest between $10,000-$30,000+ to meet all licensing and government regulation costs.
Profits will vary depending on your geographical location, how busy you are, and your rate per hour.
Check out this informative article on tips how to get started with your home inspection business.
95. IT SUPPORT
There's an increasing demand for Technical Support businesses, and you can choose to operate a one-person show, own a storefront business or connect with a franchise.
Individuals and businesses alike depend on IT support for a variety of roles, including:
- Ongoing maintenance & Repair
- System networking
Plan to invest $12,000-$30,000+-more if you opt for the franchise option.
Determine what and who your ideal clientele is and market accordingly. IT support generates an income of $100-$160+/hour, with minimal overhead paving the way for significant net profit.
Check out this publication for more information on how to establish yourself in this industry.
The consulting industry is currently valued at $100 billion and expected to grow about 80% in the next five years making now the time to start your own consulting firm.
The sky's the limit with regards to what you can consult as long as you are the expert and can offer concrete advice and an actionable plan to resolve the issue.
Focus on a particular field and provide a service that addresses their pain point and here is a list of the most popular niches with a steady demand for consulting services.
With the opportunity to offer your assistance online or in person, your particular style will dictate the amount of capital you need to invest.
As per this publication, there is potential for a profit margin between 15%-80%+ but this number is dependent on your particular field and level of experience.
97. DIGITAL MARKETING COMPANY
Throughout this post, we've repeatedly stressed the importance of marketing your business venture to achieve optimum success.
Most business owners stick to what they know best, and that is their business.
Either they do not have the time or the knowledge or a combination of the two, but more business owners than ever before are taking advantage of this resource and capitalizing on others' skills to market their business.
Enter you the digital marketer extraordinaire.
This article offers a step by step outline on how to begin a digital marketing company from the ground up for minimal to no start-up costs.
Net profits are estimated to be between 15%-30%+ and have the capacity to generate consistent and robust cash flows.
If you know what you're doing and can achieve results for your clients better than those offered by your competition.
This most profitable retail business idea has the potential to be a cash cow, but it is becoming increasingly popular, so if you are interested, I would plan on starting now.
98. VIRTUAL ASSISTANT
The potential for revenue is prodigious as more business owners turn to VAs to complete tasks that were typically performed by employees.
The demand for VAs is on the rise and is estimated to see a compound annual growth rate of 26.29%, reaching over $12 billion by 2024.
Proficient VAs can charge up to $100/hour, but the average rate of pay is either by the task ($3 for 10min) or $20-$60/per hour.
Your ROI will be dictated by the number of paying clients and hours you are employed.
You need to be the best as you are competing with much lower paid offshore VAs.
Determine your specific niche and target market.
What will be your area of specialty?
This article is an excellent read for those interested in launching this low to no-cost start-up venture.
Copywriting is a multi-million dollar industry with the ability to connect with clients from all over the world.
Should you choose to engage in online business, your initial expenses will be minimal-equivalent to the cost of your computer and high-speed internet.
Brick and mortar establishments with a team of writers will cost around $100, 000+ to establish.
Content is paramount for business owners to not only generate continuous exposure to new clientele but to retain a competitive edge and create influence and authority in their field.
Copywriters charge by the project or by the word.
The more specialized or difficult the project, the higher the rate. .5-$2/word or $500-$3000/job.
The demand for copywriters is on the rise-an estimated growth of 8%+.
This article outlines details how to start a copywriting business.
100. WEB DESIGN
With a projected growth rate of 5% for 2021, there continues to be a need for web design.
With online or location options, your investment will vary, but to achieve success, one thing is for sure, you need to know what you are doing.
An increasingly competitive market, this article shares some vital elements to creating and maintaining a profitable web design business.
Typically paid per project, websites can range from several hundred dollars to upwards of $30,000.
The more detailed, complex, algorithm focused, the more valuable the service provided.
Here is an interesting publication with suggestions on billing strategies.
Web designers earn an estimated gross profit margin of around 70% making this one hot ticket most profitable retail business idea worth looking into.
101. GRAPHIC DESIGN
There are options to work from home, freelance, or offer online logos and graphic design, but you should plan to invest between $2000-$10,000.
With an average profit margin of around 20% and a projected growth of approximately 3% in the next 5-10 years, competition is getting increasingly fierce.
There is room for fresh blood, but be prepared to work hard and market yourself strategically to gain traction and retain clients.
Here is an article outlining how to start a graphic design firm if you are talented, and this retail business idea appeals to your artistic persona.
The magician behind the scenes, your role is to generate online leads for business owners utilizing a high ranking and fully optimize website.
With options for paid advertising, the goal is the highest conversion for the least amount of 'clicks.'
Pricing is contingent on experience and target market.
This article is geared to business owners but offers some solid advice on how to reasonably price your services.
With an estimated profit margin of 18% you can lower your investment costs by providing online and in-home services as opposed to an actual location.
103. SOCIAL MEDIA MANAGER
By creating an actionable, results-driven campaign for business owners, it is possible to launch your social media manager business from home or online for little to no startup costs.
Should you intend to establish a full-scale agency, plan on investing around $20,000-$100,000.
Your clientele will expect results, so to edge out your competitors, you need to create a strong presence online and on social media-THE expert in your field.
This article provides a breakdown of how to begin this lucrative opportunity.
With projected profit margins of 17%-35%+, there has been a surge of growth in this industry (36% between 2013-2021).
Making now an ideal time to invest in this most profitable retail business idea.
104. APP DEVELOPMENT
Apps just make people's lives easier.
From counting calories to sleuthing out the best online deals, there's an app for everything.
Or is there?
Look a little closer, and you'll see that there's all kinds of potential in this most profitable retail business market.
It comes down to finding a pain point and providing a solution.
Anything and everything is up for grabs, but a few ideas found in this post include things like:
- Fitness Apps
- Travel Apps
- Health & Safety Apps
- Delivery Apps
Figure out what kind of app you want to build, determine your target market, and check out this article that outlines how to start an app development company.
You know who they are.
The ones that run those Facebook scams, and call little old ladies saying they're with the IRS.
Scumbags that are on a mission to break into hard drives across the county, and they're just getting better.
Which is driving the demand cybersecurity and why its one of the most profitable retail businesses to start on our list.
But you need to know what you're doing and who you're up against and have a superb understanding of technology and current trends.
Think you're up for the challenge?
Ready to learn more?
Then check out this post, which goes in detail all you need to know about how to start a cybersecurity company.
Every business owner needs and wants leads.
More leads means more business and higher profit margins.
The secret sauce and the recipe for success with this business model.
Build and rank websites that climb the SERPs and generate leads for local business owners.
The beauty of this most profitable retail business idea is that the websites and the leads belong to you.
Hook up with a biz owner looking to grow and sell those leads like I did with this tree site below.
I built this site in 2015 (one of my very first builds), and it's been bringing me $2000/month for the last six years.
What Is Lead Generation?
Think of your sites like digital real estate. Virtual billboards that drive traffic and quality leads into the hands of local business owners.
When your site sits at the top of Google, people visiting your lead gen are there with the intent to purchase.
A buyers mentality-you have what they want.
Because the sites and leads belong to you, it's your call on payment arrangements.
And if you do the work at the beginning like it's laid out in the training, once your sites are ranking, they're pretty hands-off.
That means a passive income stream and time to build more digital properties or just enjoy the fruits of your labor.
Because this business model takes work-and some hustle.
But the training is so comprehensive we have grannies in our program making bank with their lead gen sites.
Why Is Lead Generation The Most Profitable Retail Business Idea In 2021?
- Lead generation is six simple steps
- You have over 400 niches to choose from anywhere in the world
- The market isn't saturated
- Minimal startup & overhead costs
- No worries about breakdowns in the supply chains or your product being stuck in some offshore container
I gotta be clear-lead gen isn't a cakewalk. And it's not a get-rich-quick scheme either.
This business model takes some hard work and commitment.
But if you trust the process, follow the training, and are willing to put in the effort, there's no limit to your financial success.
You don't need prior experience or be the sales god extraordinaire.
You don't need to be an SEO master or how to build the best websites.
We have over 7000 members in our program currently. Some had a ton of knowledge walking in-others had zilch.
The common denominator was that each and every one of them saw the limitless potential lead generation offers.
If you're interested, have questions, or want some more info on the lead generation model or this program, click the link below and book your call today.
As market trends shift, the landscape of possibilities continues to perpetuate new and innovative methodologies.
The opportunities are endless, and the ones listed in this post are just the beginning.
If you're in the know around the most profitable retail businesses to start or have a suggestion not on our list, please don't hesitate to leave it in the comments.