Starting a business is a great idea as you get to be your own boss and make your own rules. You can finally get to choose your own dress code. Want to wear a onesie to work? Go for it! Prefer to wear a tuxedo every day? No problem!
But there’s more to it than meets the eye. Starting on the journey of owning a small business is a thrilling experience because it allows you to solve real-world problems, meet new people, create a personal brand, pick up new skills, and even mentor upcoming innovators.
In this post, let's see how to create a profitable business with the top 10 business ideas in the USA for 2023:
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Benefits of Starting a Small Business
If you’re looking to get started with owning a business but don’t know where to begin, a low-cost business can be the way to go. When starting out, a low-cost business allows you to have financial independence. You can begin with minimal investment and overhead, reducing the risks of failure and providing a stable income stream. Low-cost businesses are also more agile and adaptable and it is also much easier for entrepreneurs to enter new markets. So with the right planning and strong work ethic, anyone can succeed in building a profitable low-cost business.
Source: Bank of Info
When it comes to starting a successful business, the US is the perfect country to do so.
The United States is one of the largest markets in the world with a central government, one currency, and an integrated legal system. Moreover, a large, wealthy, and homogenous consumer base and its 14 Free Trade Agreements across 20 countries afford a competitive advantage for small businesses.
The country is home to some of the world's leading educational institutions and research centers, thus offering a wealth of knowledge and resources to many business owners. All these factors make the United States a lucrative place to start a new business.
Now that you know why to start a small business in the USA, here are some business ideas to get you started:
1. Dropshipping
Source: Unsplash
Dropshipping is one of the most extremely profitable businesses in today's times. Last year, the global dropshipping market was valued at 225.99 billion, with chances to rise at 23.4% YoY. It is a retail fulfillment method where a store doesn't keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer. As a result, the merchant never sees or handles the product.
Famous Dropshipping Companies
Spocket started from scratch in the tightly-held dropshipping market and has been reigning the US, and European e-commerce ever since. Moreover, Spocket is a great utility tool for Shopify users, due to its hassle-free integration with the marketplace. Sprocket’s branded invoices are a delight to customers as well.
Other companies that made their mark in dropshipping business:
- Notebook Therapy for Japanese and Korean Stationery
- Bidet Genius for bidets
- Life Booster for everyday gadgets
- Wallplate Warehouse for interior decor
How to Start a Dropshipping Business in the USA
Here’s what you need to do to start a dropshipping business in the USA:
- Find a product category that interests you and has demand in the market.
- Look for reliable suppliers who offer dropshipping services and are willing to ship to the US.
- Create a website or use a platform like Woo-Commerce or Shopify to set up your online store.
- Add products from your suppliers to your store, including descriptions and images.
- Determine your pricing strategy based on your costs and competition.
- Own your social media accounts. Drive customers in the US to your store through advertising, social media, and other marketing channels.
Pros of Starting a Dropshipping Business
- Low startup costs
- Easy to test and validate new product ideas
- Flexibility of location
- Low overhead costs
- Access to global markets.
Cons of Starting a Dropshipping Business
- Reliance on third-party suppliers
- No control over product quality
- High competition in the market
Marketing Your Dropshipping Business
To market your dropshipping business, start by identifying your target audience and building a professional website optimized for search engines. Use social media to share content, interact with followers, and run targeted ads. Consider influencer marketing to reach a larger audience, and use email marketing to nurture relationships with potential and existing customers.
2. Social Media Management
Source: Unsplash
Today, around 93% of businesses are using social media to drive growth and evolve new sales channels, making it an exciting business opportunity.
Social media management is a lucrative business, especially for millennials, and involves creating, analyzing, and engaging with content on social media platforms like Facebook, Instagram, and Twitter to increase brand awareness and drive business growth. It is one of the most sought-after rewarding businesses for today's entrepreneurs. A social media manager can help businesses take care of all their social marketing channels.
Famous Companies in the Social Media Management Business
- SmartSites for social media and reputation management
- OnlyPult for overall brand awareness, and backlinking to your landing pages
- SproutSocial for handling everything, right from content management, to brand awareness, and even accommodating current, and top social media trends in your strategy
How to Start a Social Media Management Business in the USA
Here’s what you need to do to start a social media management business in the USA:
- Identify your niche and target market.
- Conduct market research and create a business plan.
- Register your business and obtain the necessary licenses and permits.
- Develop your brand and create a website.
- Build a portfolio and acquire clients.
- Set competitive pricing and develop contracts and agreements.
- Use social media to market your company and build your reputation. Build your channels in multiple languages via AI tools.
- Stay up-to-date with industry trends and continually improve your services.
Pros of Starting a Social Media Management Business
- Low start-up costs
- Potential for high profitability
- Flexible working hours and location
- Opportunity to work with a diverse range of clients.
- High demand for social media services in today's digital world.
Cons of Starting a Social Media Management Business
- Heavy competition in the market.
- Challenging to keep up with changing algorithms and trends.
- Difficulty in measuring the success of social media campaigns.
Marketing Your Social Media Management Business
To market your social media management business, use social media platforms to showcase your skills, leverage social media ads to promote your brand, and participate in online communities to maximize your customer reach. It is also useful to network with potential clients, offer competitive pricing, and provide great customer service to retain clients.
3. Online Coaching
Source: freepik
Online coaching is one of the most profitable business ideas on the list, with zero investments, and with the use of just software systems as input. The industry is set to reach a market size of $4.5 billion by 2028, making it a profitable business to sell online. It is a form of coaching where sessions are conducted virtually through video conferencing, email, or messaging. It enables clients to receive personalized coaching from a professional coach regardless of location.
Famous Companies For Online Coaching Business
- Marlee uses AI to help coaches in delivering better client results.
- Coaching Loft is a business-oriented online coaching platform catering to A-Z of any business: logistics, booking, contracts and invoicing.
- Satori helps online coaches in streamlining administrative processes.
How to Start an Online Coaching Business in the USA
- Figure out your niche, identify the demand for your coaching services, and analyze the competition.
- Develop a business plan outlining your coaching services, pricing, marketing strategy, and financial projections.
- Choose your coaching program structure. You can either go for one-to-many, group coaching sessions or offer exclusive, one–to–one coaching services.
- Develop coaching materials such as worksheets, guides, and videos to support your clients.
- Obtain necessary permits and licenses and register your business.
- Set up payment and scheduling systems
Pros of Starting an Online Coaching Business
- You can work from anywhere
- Reach a global audience
- Low initial investment
- Convenience for clients
Cons of Starting an Online Coaching Business
- Difficulty building trust
- Increased competition
- Harder to generate leveraged income through it.
Marketing Your Online Coaching Business
Some ways through which you can market your online coaching business are:
- Through pay-per-click Advertisements - This is a marketing model where advertisers pay each time a user clicks on their ad. You can use this model to drive targeted traffic to your coaching website or video.
- Profitable Partnerships - If a similar business or coaching platform promotes you on their page through a marketing partnership set-up, it can direct their audience to explore your coaching services as both of you have the same client base.
- Establish yourself as an expert in the field - In the time of social media, appearances make a lot of difference. If you present yourself as an expert in your area on different social media platforms, customers are more likely to opt for your services.
4.Virtual Bookkeeping
Source: freepik
Virtual bookkeeping is a service where bookkeepers manage a company's financial records remotely using cloud-based software, allowing for secure and efficient management of financial data.
Examples of Virtual Bookkeeping Business in the USA
- 1-800Accountant for full-service bookkeeping
- QuickBooks Live for cleanup bookkeeping
- Botkeeper
How to Start a Virtual Bookkeeping Business in the USA
Here’s how you can set up your virtual bookkeeping business in the US:
- To start, you minimally need a website and subscription to virtual bookkeeping software along with your laptop.
- Develop a business plan outlining services, pricing, and marketing strategies.
- Decide on your business name and structure. The four common business structures in the US are sole proprietorship, partnership, limited liability company, and corporation.
- Register your business and obtain the necessary licenses and permits
- Get a small business financial monitoring software for your own use.
- Define pricing and billing policies and procedures.
- Establish a website and social media presence.
Pros of Starting a Virtual Bookkeeping Business
- Ability to work remotely
- Flexibility in terms of hours and workload.
- Low startup costs compared to traditional brick-and-mortar bookkeeping businesses.
Cons of Starting a Virtual Bookkeeping Business
- Needs reliable technology.
- Increased competition.
- Dependence on internet connection and cloud-based software.
Marketing Your Virtual Bookkeeping Business
You can advertise your virtual bookkeeping business by speaking on different accounting podcasts, offering free short-duration consultations, putting up client testimonials on your website and social media, running Facebook ads, and publishing articles on known industry blogs.
5. Content Creation
Source: freepik
The global digital content creation market reached USD 25.6 billion and is expected to grow 13% YoY. Content creation involves producing original and engaging material, such as articles, videos, or social media posts, for a specific purpose or audience. It can range from copywriting, designing, podcasting, vlogging, or even simply posting pictures on a platform that engages with an audience.
Examples of Famous Content Creation Business
- HubSpot for customer-centric content, brand awareness, and driving email signups
- UpCity for their SEO-enriched content services
- Movoto especially famous for their content templates
How to Start a Content Creation Business in the USA
- Define your audience - It’s important to have a clear sense of who will be consuming your content to have a clear brand voice and marketing strategy.
- Decide on your platform - All social media platforms attract different audiences, promote different forms of content, and are meant for different business types. Figure out which platform works best for your brand.
- Establish a brand voice - In order to reach your target audience, use polls and customer surveys to develop a distinct voice for your brand.
- Third-Party tools - Based on the type of content you want to create, you may need to invest in some third-party tools such as Canva, Grammarly, or some video editing software, etc.
- Work on your Portfolio - Develop a portfolio showcasing your content creation skills and capabilities.
Pros of Starting a Content Creation Business
- Ability to showcase creativity and expertise
- Potential for passive income through evergreen content
- Opportunity for collaboration and networking.
Cons of Starting a Content Creation Business
- Excessive competition in the industry
- Time-consuming to consistently create quality content
- Subject to market trends and algorithm changes.
Marketing Your Content Creation Business
Market your content creation business by defining your niche, creating a strong brand identity, building a professional website and social media presence, leveraging Facebook groups, teaming up with influencers, keeping up with new trends, and using strategic content frameworks to reach a wider audience.
6. Personal Shopping
Source: freepik
Personal shopping is a service provided by professionals who assist individuals in selecting and purchasing items that meet their personal style, needs, and preferences.
Inspiring Personal Shopping Business
How to Start a Personal Shopping Business in the USA
- Determine which type of shopping services you want to offer.
- Assess the skills required to start a personal shopping service and hire employees if needed.
- Develop a business plan and do a market analysis.
- Work on pricing strategies.
- Build a website and social media presence to showcase your services.
- Network with potential clients and build relationships with local businesses.
- Continuously improve your knowledge of fashion and retail trends.
Pros of Personal Shopping Business
- High income
- Flexible schedule
- No overhead costs
- High customer retention rates
- Opportunities to work with a variety of clients.
Cons of Personal Shopping Business
- Requires strong sales skills.
- Can be physically demanding.
- May require long hours.
- Work can be inconsistent.
- More challenging to gain a passive income.
Marketing Your Personal Shopping Business
Market your personal shopping business by creating a distinct brand voice, offering exceptional customer service, leveraging social media to showcase your services, partnering with local retailers and fashion influencers, and offering personalized promotions and discounts.
7. Mobile Car Wash
Source: freepik
A mobile car wash is a service where a company or individual uses a specially equipped vehicle to go to a customer's location and wash their vehicle on-site.
Source: Grand View Research
Famous Mobile Car Wash Business
How to Start a Mobile Car Wash Business in the USA
- Conduct market research and develop a business plan.
- Get the required legal permissions for the business.
- Purchase or lease necessary equipment, such as a pressure washer and water tank.
- Develop a system for scheduling appointments and managing finances.
- Build a small team of professionals that can help with managing the business.
- Obtain insurance to protect yourself and your business.
- Plan for Equipment Maintenance.
- Continuously evaluate and improve your services to maintain customer satisfaction.
Pros of Mobile Car Wash Business
- Convenience for customers
- Low startup costs
- Flexibility in scheduling
- No need for a physical location.
Cons of Mobile Car Wash Business
- Weather dependency
- Travel costs and time-consuming
- Limited equipment and resources.
Marketing Your Mobile Car Wash Business
Market your mobile car wash business by offering promotions and discounts, establishing partnerships with local businesses, building a professional website and social media presence, and offering exceptional service to every customer.
You can also have a “refer to a friend” strategy that incentivizes existing customers on getting a new client.
8. Personal Training
Source: freepik
Personal training involves designing a one-on-one fitness program to help individuals achieve their fitness goals through customized exercise and nutrition plans, and guidance from a certified personal trainer. The business profile is highly sought-after and is already valued at USD 39,740 million in 2022.
Famous Personal Training Business
How to Start a Personal Training Business in the USA
- Obtain relevant certifications and training.
- Develop a business plan, and register your business.
- Define your target market and pricing strategies.
- Find a suitable location or consider mobile training.
- Invest in the necessary equipment and liability insurance.
- Build a website and social media presence.
Pros of Starting a Personal Training Business
- Flexible schedule
- High earning potential
- Opportunity to help clients achieve fitness goals
- Potential for repeat business
Cons of Starting a Personal Training Business
- Requires investment in education and certification
- Can be physically demanding
- Requires strong interpersonal skills
- Can be challenging to attract and retain clients.
Marketing Your Personal Training Business
Market your personal training business by offering free trial sessions, asking for customer testimonials, publishing blog posts, partnering with local businesses, and maximizing your reach online through email marketing and leveraging social media.
9. Pet Sitting and Dog Walking
Source: freepik
Pet sitting and dog walking are services provided to pet owners to take care of their pets, including feeding, exercising, and providing companionship, while the owners are away from home.
Source: Grand View Research
Famous Dog Walking Businesses
How to Start a Pet Sitting and Dog Walking Business in the USA
- Obtain necessary permits and licenses.
- Establish a pet care contract laying down rules and regulations, services covered, fees charged, and mentioning limitations and liabilities.
- Develop a marketing plan and build a website.
- Network with local pet-related businesses and build relationships with clients.
- Establish a scheduling and billing system.
- Get liability insurance.
- Develop a process for handling emergencies.
Pros of Starting a Pet Sitting and Dog Walking Business
- Low start-up costs
- Flexible schedule
- Opportunity to work with animals
- High demand for services
- It’s a stress-free job.
Cons of Starting a Pet Sitting and Dog Walking Business
- Physical demands of dog walking
- Liability for pets' well-being
- May have to deal with difficult clients.
Marketing Your Pet Sitting and Dog Walking Business
You can advertise your pet-sitting and dog-walking business by leveraging social media to showcase your services, offering promotions and referral discounts, partnering with local dog shelters and pet-related businesses, creating newspaper ads, and distributing flyers.
10. House Cleaning
Source: freepik
House cleaning services refer to businesses or individuals that provide professional cleaning services to homeowners or businesses, including a range of cleaning tasks, such as dusting, vacuuming, mopping, and disinfecting surfaces, among others.
Source: Grand View Research
Famous House Cleaning Business
How to Start a House Cleaning Business in the USA
- Research the market and identify your specialty such as eco-friendly cleaning products, kitchen cleaning, etc.
- Purchase equipment and cleaning supplies.
- Plan operational and equipment maintenance costs.
- Obtain liability insurance.
- Build a website and social media presence.
- Develop a marketing plan and promote your business through referrals, partnerships, references, and discounts.
- Create a scheduling and billing system.
Pros of House Cleaning Business
- Low start-up costs Flexible schedule
- High demand for services
- Opportunity for repeat business
- Higher chance of getting referrals
- Largely recession-proof.
Cons of House Cleaning Business
- Liability for damage or theft
- No safety net
- Repetitive work.
Marketing Your House Cleaning Business
You can market your house cleaning business by buying targeted mailing lists, sending out flyers in the local area, leveraging social media to create promotional videos, running pay-per-click campaigns, showcasing customer reviews, and getting yourself certified.
So, these were some low-investment business ideas that you can kick start right away. Starting a small business can be both exciting and daunting, but with the right tools and mindset, it can also be a fulfilling journey.
There is no one-size fits all approach when it comes to doing business. So keep in mind to research and choose a business idea that matches your interest and capabilities. Remember, Rome wasn't built in a day, and neither was Amazon. So take your time, plan, learn from your mistakes, and most importantly, have fun!
What are you waiting for? Start a small business today!
Common FAQs To Start a Small Business in the USA
Source: Pexels
What is the Best Low-Cost Business to Start?
Some great low-cost businesses to consider are Dropshipping, Social media management, Online tutoring, and Personal shopping services.
How Much Money Do I Need to Start a Business?
The amount of money needed to start a business varies widely, but it can range from a few hundred dollars to hundreds of thousands of dollars. That’s why low-cost businesses are a great starting point if you want to start a business with a minimal initial investment amount.
Read further in details about this sub-topic.
How Can I Market My Business on a Tight Budget?
If you are on a tight budget, you can still market your business effectively by leveraging social media, creating valuable content, partnering with local businesses, offering referral incentives, attending networking events, and providing exceptional customer service.
How Can I Make My Business Profitable Quickly?
While earning profits is not as simple and easy as swishing a magic wand, you can strategically earn profits by offering promotions and discounts, focusing on high-profit products/services, and creating a sense of urgency for customers to opt for your product/service.
How Can I Ensure My Business is Legal and Compliant?
To ensure legal and regulatory compliance, obtain necessary permits and licenses, register with government agencies, and stay informed about relevant laws and regulations.
Can I Start a Business with No Experience?
Yes, you can start a business with no experience, but it's important to be willing to learn and consistently improve your business. Entering industries with low barriers to entry can also be a useful strategy when you are just starting out.
What Resources are Available for New Business Owners?
You can get help from small business development centers, by reading and researching business planning strategies, mentorship programs, online courses, and networking events.
How Do I Choose the Right Business Idea for Me?
To make sure you pick the right business idea, go for one that aligns with your skills, interests, and values, and research the market demand, competition, and the pros and cons of that business.
Can I Start a Business While Working Full-Time?
Yes, you can start a business while working full-time, but it may require careful time management and a flexible schedule.
Your business could also be a stress-free, side hustle or a passion project that adds purpose to your life.
How Can I Stay Motivated When Starting a New Business?
Some ways to stay motivated are by setting realistic goals, tracking progress, celebrating small wins, seeking support from mentors and peers, and maintaining a positive attitude.
