The business world is a hectic one. For any new entrepreneur, or even an already established business, it’s tough to know which one is worth their time and what options they have available to them.
That’s why we put together this list of some of the top 10 most successful businesses to start and give a shot this year as they are likely to be successful and ROI-positive.
The successful business ideas listed here deal with sectors that are constantly changing, especially in the tech world. So, in case you don’t know all about them yet, we’ll cover the basics of each company for you so that you can decide for yourself whether or not to invest your hard-earned money into them.
Most Successful Business Ideas List
1. Start a blog
Starting a blog can be a great way to make money as an entrepreneur. These days, there are numerous blogging platforms available, such as WordPress and Blogger that allow you to set up your own blog website and start writing posts with ease.
Of course, the best part is that you can write on virtually any topic you want without being bound by the restrictions of a typical “job” at another company.
If the primary reason for starting your own blog is to make money by monetizing it and making affiliate marketing commissions on your traffic, then you will want to check out Clickbank’s affiliate program which has thousands of products in many different categories.
2. Start an online store
Online stores are a great place to start your business because they’re easy to set up and sell products or services to customers. And they can be done without much investment at all. For example, there are many online storefronts that operate via in-store display units or “shop-in-store” kiosks in nearby retail locations.
The money you make from these types of online shops is generated by the sales you make in your space, which is directly reflected in the amount you earn daily, or weekly. You can also create an online store by using Shopify, Amazon’s e-commerce platform for selling products on their websites for businesses that use their platform.
3. Start building apps
Are you good at developing mobile apps? Then start building them and selling them to businesses who want to make their own apps or maintain them. You could also monetize apps via the Apple App Store or Google Play store with their advertising platforms.
The apps you create can be built and sold on both these platforms, and in this way, you will get the best of both worlds: revenue coming from app sales, plus ads revenue from the use of their advertising platforms.
4. Start a cafe/restaurant
In recent years, food has been one of the biggest industries to grow in Toronto and it’s not difficult to understand why.
For many people, going out for food is not only a weekly routine but also a great place to meet new friends or reconnect with old ones, which is why it’s no surprise that there are so many restaurants open already in the city.
Even so, there’s always room for more, and that’s where you come in. Whether it’s a new business or an expansion of a preexisting one, it’s easy to find opportunities to start your own food business. If you are interested in owning a café/restaurant, make sure to check out commercial café equipment for rent in Toronto or Canada.
5. Start an online travel agency
Contrary to popular belief, there is still plenty of money to be made in the travel industry despite the growth of Airbnb and its competitors over the last few years. There are plenty of ways to earn money from online travel agencies and online travel agents, such as with online booking platforms like Booking.com.
Don’t forget that, while the target audience is the traveler, you yourself can also sell products and services via your platform, such as tours, hotels, or flights. Also keep an eye on other sectors of the travel industry that haven’t been touched by these businesses yet: last-minute flights or hotel deals are a great way to make extra money for your family this summer.
6. Start a product design/development company
In recent years, product design has become a hot start-up sector of the tech world. With the advance of 3D printing and new game-changing products like virtual reality headsets, this trend only shows no signs of stopping.
If you are interested in this career path, then you should make sure to have an idea about what your business model is going to be.
This way you can figure out how much investment will be required (starting small is more cost-effective) and how to create your own minimum viable product to sell using Kickstarter or Indiegogo as an alternative platform for inventors to launch their products without having to spend money on developing them first.
7. Start a real estate investment
The real estate market continues to be a popular industry that businesses of all sizes and industries are looking into for their own benefit.
There are still more companies looking for new and creative ways to take advantage of the large market pool of investors in this sector, which is why you should start researching what types of residential housing investments can be made.
A good start is to check out the business opportunities in a specific city or town that may have areas with higher demand, but with longer time-frames between the purchases or sales of homes or apartments. If you have your heart set on an investment property in a top location, check out the business opportunities available there.
8. Start a massage business
Massages are one of the most popular services among businesses with clients looking for personal and wellness-related services. Due to this, there is still a bustling marketplace for massage therapists, who can be a great way of making money quickly in your city or town.
There are several types of massage techniques to choose from but stick to those that are widely accepted by the public and that does not require going to school at all (like Thai Massage). You can also check out online courses on how to start a massage business if you want to pursue something more specific or start your own business from scratch.
9. Start a design service business
The art of designing homes and offices is growing steadily, which means that this is a great time to start your own company in this industry. Just be sure to choose sectors within the industry (like interior decorating or graphic design) that generate more money than others and have a higher demand for them as well for you to make a decent amount of money each month.
This is why researching the industry first before investing in your own business idea is important. To do this, check out online courses on how to start an interior decorating business. If you are more interested in the design sector, then check out the course on how to start a graphic design business.
10. Start an online advertising agency
Advertising is one of the most important sectors of the marketing industry, and that’s because it is used to move markets. There are still millions of dollars available for promotion businesses (including online marketers) looking to move products and services from companies looking to invest in them without any cost to their own company.
If you are thinking about starting your own advertising agency, make sure not only to have a good understanding of how it all works but also to know what types of companies use these services on a regular basis.
What is the most profitable business in 2023?
According to a survey published in the Huffington Post, the most profitable business of the next 12 years is likely to be online shopping.
Other successful businesses in this sector include internet marketing, travel agencies, and fitness centers. These sectors are expected to generate higher profits as well.
Is 2022 a good year to start a business?
The short answer is that it depends on what industry you are interested in, but the general trend is that startups are expected to be more successful this year.
Based on the Startup Trends Report by Yext, companies still tend to generate higher profits than most sectors of the economy, which makes it a great time to start a business.
What businesses are in demand?
The demand for self-employed professionals continues to grow as the job market in leading companies with stable economies becomes more competitive.
This is why self-employment should be on your radar if you want to make money this year. For this reason, e-commerce, real estate investments, and home contractors are three businesses in high demand, according to most business opportunities.
Also, don’t forget about the growing interest in wellness-based projects like organic food stores or massage services.