The entrepreneurial landscape changes with the seasons. When the economy is performing poorly, there are certain fields that offer more openings and potential than others. Those intending to launch their own businesses in 2023 should scan the market carefully to identify the most profitable opportunities. Right now, there are several commercial sectors that offer promising opportunities for entrepreneurs.
In addition to medical support services, today’s entrepreneurs build financial security by starting their own small transport fleets, setting up tax resolution firms, creating job search services, and establishing pest control companies. Others are discovering the long-term potential of building locksmith services, offering support for real estate professionals, opening salons, and marketing their resume writing skills. Consider the following opportunities for hard-working adults who want to become entrepreneurs.
Tax Resolution Firm
Tax resolution firms are at the forefront of protecting consumers from legal problems associated with the underpayment of tax bills. In effect, the professionals who run resolution businesses are negotiators, not accountants.
While it is necessary to earn a certification to do the work, many firms spend their time and effort finding new customers via advertising. Then, they outsource the document preparation and negotiating to others.
The profit potential for startups in the niche is substantial because federal taxation authorities are more than willing to negotiate with those who owe large sums on past bills. However, many operators in the resolution niche do the marketing, negotiating, and tax return preparation without outsourcing any of the work.
Local Transport Fleet
Starting a small transport fleet is an ideal choice for people who want to invest in their long-term career viability. Fleet management skills are best learned on the job, but it’s imperative to understand the basic workings of a typical telematics device before doing anything else. Expect to spend a month or two finding enough customers to turn a profit. After that, spend time optimizing telematics programs so drivers and the home base can communicate effortlessly.
Why are telematics devices and systems so integral to fleet operations? It’s mainly because they are based on internet available networks that allow companies to send huge quantities of relevant information between drivers and supervisors in a real-time setting. Without this kind of arrangement, it would be next to impossible to get shipments to their destinations on time or monitor the safety of drivers along the way.
Job Search Service
Job search services differ from resume writing in a number of ways. First, they don’t offer document help for employment seekers who want resumes. Instead, their specialities include things like finding job openings that match the skills and desires of the applicant, screening prospective employers based on starting salaries and benefits, teaching interview techniques to clients, enrolling people in training programs for quick acquisition of essential skills, and more.
Commercial Pest Control Business
Pest control is among the few business opportunities that are unaffected by the overall economy’s ups and downs. In bad times and good, owners of commercial and residential properties need to deal with pests like roaches, spiders, scorpions, termites, and other creepy crawlers that can destroy foundations and spread disease.
Those who intend to enter this niche should know that competition can be intense, but for those willing to spend several months building up a client base, the rewards include long-term financial stability and the potential to grow the business exponentially.
Mobile Locksmith Company
The locksmith trade has advanced rapidly in the past two decades. Nearly all the chores a licensed locksmith performs are high-tech versions of older, traditional ones. The shift is because modern cars, homes, and office buildings use smart locks, computerized security devices, and electronic keys.
With few exceptions, today’s locksmith business owners can operate out of a small office or van and perform all their duties using high-tech tools and advanced computer scanners. For those who wish to enter the niche and earn a stable income, startup costs are modest, but there is about a 60-day training period required to learn how to use the tools of the trade.
Real Estate Support Organization
Independent owners who don’t want to enter the crowded, highly competitive real estate field are choosing to earn a profit by offering support services of various kinds. Those who sell properties for a living face a number of hurdles in the process of closing a deal. That’s why entrepreneurs can do well by providing one or more backup functions.
Some of the more lucrative areas for startups in this fast-moving field include prepping properties to be put on the market, staging homes so they’ll sell faster, performing real estate appraisals, doing house inspections, offering lead generation to sellers, creating websites, and more.
Spa & Bodywork Salon
The personal services segment is currently undergoing rapid growth. Ironically, even in challenging financial times, consumers seek out the care, comfort, and attention they receive from a high-quality bodywork spa.
Startups in the niche do best by offering two to three focused treatments: massage, brow and lash treatment, facials, hair removal, manicures, and hair styling. Even stand-alone micro businesses that perform one bodywork service can earn a steady income, with therapeutic massage and hair styling being the most popular.
Resume Writing Service
In a down economy, all the job and career-related fields perform rather well. That’s particularly true for the field of resume writing.
One reason for the current high demand is that employers are becoming increasingly picky about resume formats, styles, required information, and keywords. Writers who pass certification tests can earn substantial incomes by catering to college grads searching for their first jobs and mid-career job changers needing specialized help.
One of the major changes in the HR (human resources) area is the introduction of ATS, or applicant tracking systems. Hiring agents automatically computer-scan thousands of resumes looking for keywords. Documents that are not optimized for ATS programs are passed over. Job seekers value writers that are not only certified but also know how to manoeuvre through the tricky world of ATS screening processes.
