If you’re looking to get into the vending machine business, you've come to the right spot. We analyzed existing resources and talked to the owner of Hill Vending to find out the best vending machine locations. Get ready to find out where to put vending machines! Adam Hill bought his first vending machine route for $120K in 2014 and grew his vending machine business to $600K annually. He’s even started his own machine vending training course.  In our interview, he explained there are four keys to vending machine business success:

1. Location
2. Machines
3. Service
4. Pricing

Adam said: [su_quote]If you’re in a slow location, it doesn’t matter how good your machines, pricing, and service are. You won’t make any money. You have to have all four keys to be successful.[/su_quote] [su_note note_color="#dbeafc"]In this article, we’ll focus on the first of the four keys: Location. When you’re done, you should understand:

1. Three Ways of Finding Investing in Vending Machines
2. How to Find Locations for Vending Machines
3. Best Vending Machine Locations

Click any of the above text to jump to that section of the article. [/su_note]

3 Ways of Investing in Vending Machines

Adam Hill told us: [su_quote]The corporate world was trying to make me bounce around a lot and I wanted to stay in my strip of paradise. I decided to leave my job, buy a vending machine route, and have been doing this ever since.[/su_quote] He went on to explain there are two main ways to choose a vending machine location:

1. Buy an Existing Route
2. Perform B2B Sales

Check out our interview about the vending machine industry below:   In addition to the two ways that Adam mentioned, we’ll also discuss buying a vending machine franchise. Keep reading to learn how to buy an existing vending machine route.

Buy Vending Machine Route

Adam suggests buying an existing vending machine business from a business owner because: [su_quote]You don’t have to worry about finding the route. You can focus on the other three keys.[/su_quote] As you review a potential route for purchase, you’ll want to ask lots of questions about the following:

• Vending machine locations
• Vending machine equipment
• Vending machine prices
• The relationships with property owners

Adam discusses all that and more in our Vending Machine Class. Sign up for early access. Adam explained: [su_quote]You need to link up with an education platform like UpFlip. You’ll be running your business by making mistakes if you don’t. There’s no college courses for this.[/su_quote] Next, we’ll discuss cold-calling businesses.

Perform B2B Sales 

Adam also discussed going to businesses and negotiating to place vending machines on their properties. He explained that this can be difficult because existing locations frequently have a service contract. He also gave tips on the best person to talk to: [su_quote]The Facility Manager is normally much less busy and will accept your visit. He’s often sitting in an office and will enjoy your company. Once they like you, you have an in. Then you can propose replacing the service contract.[/su_quote] He also explained why you shouldn’t approach the general manager or property owner unless you are dealing with a solo entrepreneur. [su_quote]The GM is the busiest person in the building. The gatekeeper (receptionist) is specifically instructed to brush people off politely.[/su_quote] Check out our in-depth walkthrough on the vending machine industry. Next, we’ll discuss vending machine franchises.

Buy a Vending Machine Franchise

Vending machine owners can also use the franchise model to start a vending machine business. This vending machine business model is often used by major vending machines companies like Coca-Cola and Pepsi. In addition, other vending companies like Pharmabox use this model. There are two basic models that these franchising opportunities use:

1. Franchise: You can purchase the vending equipment and the rights to use the vending business name in exchange for licensing rights.
2. Route Owner: You become a partner of the company and manage a service route for the company. These options are good for entry into the vending business because many of the major decisions are made for you.

Where Can I Learn How to Start a Vending Machine Business?

Check out our other blogs about vending machines including:

1. Start A Vending Business
2. Vending Machine Types
3. Best Vending Machines
4. Getting Vending Machine Licenses

Then sign up for our Vending Machine Bootcamp.

Where Can I Put a Vending Machine Near Me?

You’ll want to consider the elements of choosing a location for your vending machines. The best locations for vending machines have the following characteristics:

1. Where can I legally put a machine?
2. Type of vending machine business 
3. Lots of foot traffic
4. People congregating at all hours
5. Distance from you
6. Easy accessibility to the vending machine
7. Infrequent ownership changes

Let's look at each of these a little more.

Where Can I Legally Put a Vending Machine?

You can legally put a vending machine anywhere you have an agreement with a property owner. There may be licensing requirements depending on your location, but as long as you follow the laws and have an agreement in place, you can put your vending machines in almost any location.

Type of Vending Machine Business

The vending industry covers all types of products. Your ideal location will depend on what you sell in your vending machines. The right location for a snack machine is almost anywhere (except maybe the lines in amusement parks), but maybe you shouldn’t offer energy drinks in the waiting room in medical centers. Adam told us: [su_quote]I mostly sell food, but I have one cigarette machine.[/su_quote] Check out our blog about different types of vending machines to find the types that most interest you.

Foot Traffic

The number of people passing a vending machine impacts whether you have profitable locations. Some locations have less than 50 people passing the vending machine daily, while airports can achieve up to 76 million travelers per day.

Hours of Operation

A business that is busy 24/7 like a hospital is likely to be a better place for a vending machine than somewhere like an apartment complex pool that closes for half the day.

Distance from You

You’ll want to make sure that your route is easy to get to regularly. The further you have to drive, the more business expenses you’ll have.

Accessibility to the Vending Machine

It is harder to sell products if people can’t easily access the vending machines. Providing easy access means:

• Three feet of clearance in the front
• NOT disrupting the flow of traffic
• Making it easily viewable

Sometimes there will be a suitable location in areas that are off the beaten path. For instance, shopping malls and casinos often have hallways with a bathroom and drink machines. These machines regularly do well because people buy snacks or sports drinks while waiting for their friends.

Infrequent Ownership Changes

You probably want to avoid businesses where the property owner frequently changes. You don’t want to enter into a vending machine placement contract, then have to renegotiate with a new owner soon afterward. Next, we’ll discuss some of the best locations for vending machines.

Best Places to Put Vending Machines

We’ve compiled some data on the best places to put a vending machine. We’ll cover: [su_note note_color="#dbeafc"]

1. Airports
2. Bus and Train Stations
3. Hospitals and Care Facilities
4. Warehouses
5. Office Buildings
6. Apartment Complexes
7. Dealerships
8. Hotels
9. Gyms
10. Schools
11. Dorms
12. Retail Stores
13. Gas Stations
14. Shopping Centers
15. Amusement Parks
16. Conference Centers
17. Car Washes

[/su_note] Consider some of the following vending machine location ideas.

#1. Airports Are the Best Locations for Vending Machines

The top 10 airports have more than 100,000 people passing each day. Your vending machine business is sure to make some great revenue. You’ll need lots of machines and potentially a full staff to keep up with the foot traffic in the best locations.  If you can’t secure one of the best locations, there are plenty of other options. A business owner that even secures a slower airport has over 600 people pass their vending locations every day.

#2. Where Can I Put My Vending Machine? Bus and Train Stations 

Placing vending machines at train and bus stations can be highly profitable. Amtrak, the largest U.S train station operator, carries more than 22.9 million riders in 160 communities. That comes out to 400 riders daily per community, but the highest travel rates see more than 34,000 people per day. Meanwhile, Greyhound Lines serves nearly 16 million passengers across 135 markets, or over 325 people per bus station daily. If you can negotiate a deal with the station property owners, they are a good place to put a vending machine.

#3. Hospitals and Care Facilities Are Good Locations 

Hospitals and long-term care facilities are also high-volume places for vending operators. According to the Center for Disease Control, the average person goes to the doctor 2.5 times per year, and such facilities house nearly 240,000 people. There are three common areas to include vending machines:

• Waiting Rooms 
• Break Rooms
• Reception Areas

Waiting Rooms

A waiting room is a great place to put a vending machine with healthy snacks like protein bars and granola bars. You’ll probably do well with drink machines as well. Provide vending needs for people waiting for their families and make a nice profit doing it.

Break Rooms

Employees need a place to get an easy snack or drink and a vending machine in the break room can be highly profitable. You’ll get a steady flow of revenue from these 24/7 businesses.

Reception Desk

Placing a vending machine near the nurses' desks is a great way to make a huge profit because you can serve patients, visitors, and staff all from one machine.

#4. Warehouses Are Good Places to Put Vending Machines

Another good place to put vending machines is in warehouses. Warehouses are commonly used as distribution centers, manufacturing facilities, and industrial parks. These businesses generally employ hundreds or thousands of people and operate 24/7. State laws typically guarantee two 15-minute breaks and a 30-minute break per shift. That means vending machines in the break room do well because employees don’t have time to leave the premises.  

#5. Where Can I Put a Vending Machine? Offices

A vending business can be highly profitable if you place machines in office buildings with 50 or more employees. Employees get hungry and thirsty throughout the day and vending machines provide options for people who forgot to bring something from home. That makes an office space a great location for vending machines.

#6. Where to Put a Vending Machine: Apartment Complexes 

Apartment complexes are great locations for vending machines. Each complex is different, but many have multiple locations for people to pass a machine regularly including:

• Laundry Rooms
• Common Areas
• Playgrounds and Parks
• Party Rooms
• Gyms
• Mailbox Areas
• Pools 

Adam warned us: [su_quote]Don’t put machines outside. It wears them out.[/su_quote] Keep reading to find out why a car dealership is on the best vending machine location list.

#7. Where Can I Put My Vending Machines? Car Dealerships

Car dealerships make great locations for beverage services because they have lots of employees, plus the average consumer spends nearly three to four hours buying a car and several hours waiting every time they take the car for service.

#8. Best Location for Vending Machine: Hotels

Guests in a hotel or motel will want a quick snack or drink even if they don’t want a full meal. Once you negotiate deals with these properties, you might wonder where to put your vending machine. You can place your vending machine:

• Near the front desk
• On each floor near the ice machine (You could even offer to supply and maintain the ice machines, too.)
• In pool areas
• In the food court

Given that hotels are 24/7, they can be top-grossing locations.

#9. Gyms Might Be Ideal Locations

Gyms and fitness centers are full of people working out. Where can you put a vending machine in a gym? Try the following locations to give your machines a competitive edge:

• Lobby
• Locker Rooms
• Cardio Room
• Weight Rooms

Make sure to offer healthy snacks, water, and sports drinks. They don’t expect a full meal because that would weigh them down.

#10. Want High Foot Traffic? Try Schools, Community Colleges, and Universities

Schools, community colleges, and universities are always busy. That makes them a great place for vending machines. Just to give you an idea there are:

• 130,930 K-12 Schools with an average enrollment of 528 students.
• 4,000 colleges with an average enrollment of nearly 4,000 enrolled students.

States often have regulations about the type of quick snack options you can provide on school property. You’ll also need to be ADA compliant.

Are vending machines a good investment on college campuses? 

The answer for many colleges is probably no. Many private institutions are seeing large declines in enrollment. Some state-funded schools are doing well, but on average they are facing year-over-year declines (see enrolled students link above). If you can negotiate deals in these locations, you may find greater success because they have growing populations of college enrollment: [su_note note_color="#dbeafc"]

• New Hampshire: 149.6%
• Utah: 54.7%
• Idaho: 44.4%
• Delaware: 6.19%
• District of Columbia: 5.97%
• Texas: 4.27%

[/su_note] Make sure to research the enrollment trends and percent of students who are online only. Every school releases information about this. Keep reading for another exception to the decline in foot traffic at colleges.

#11. Dorms: Best Vending Machine Locations

If a college has a dorm, you might want to figure out how to get vending machine locations into it and the rest of the campus. Dorms tend to have lots of people at them 24/7. Don’t forget to integrate your card machine with their meal plans to get even better revenue. 

#12. Retail Locations are Great Vending Machine Locations

A retail store has two primary areas vending machines make sense:

1. Front of the Store
2. Break Rooms

The front of the store should be things that people run in to get quickly like personal hygiene products, while the break rooms would be perfect for snack machines and drink machines.

#13. Gas Stations Use Vending Machines Too!

A gas station needs a variety of vending machines, but most machines will not be coin operated. They may be from one vendor or multiple vendors.  They will typically include:

• Coolers
• Drink Dispensers
• Food Heating Dispensers
• Gas Vending Machines
• Water Vending Machines
• Ice Vending Machines

It’s difficult to be all things to all people so if you choose to go with gas stations, start with one type of vending option and go from there.

#14. Shopping Centers are Good Vending Machine Locations

A shopping center is another great place for vending machines. You can place a vending machine:

• In food courts
• Near rest rooms
• By entrances and exits
• Near popular stores

#15. Amusement Parks are Great Locations for Machine Vending

If there’s an amusement park in your area, you can find places to put vending machines like:

• Drink Machines
• Snack Machines
• Cooked Food Vending Machines
• Claw Machines
• Game Machines

They’ll be outside, so they’ll have more wear and tear. A sports complex will also have similar needs.

#16. Conference Centers Need Vending Machines

These buildings make great locations for vending machines because they host meetings and conventions where people spend most of their days. You can place vending machines that offer:

• Drinks
• Snacks
• Hot or Cold Meals
• Electronics (people always forget their phone chargers)
• Medicine
• Personal Hygiene Products

#17. Car Washes

A car wash is a great place for a vending machine because people often want a drink. There are two types of car washes:

1. Self-Service: The customer drives the car through an automated wash, then cleans the interior of the car themselves. You’d want vending machines near the cleaning stations. You might also want to offer cleaning product vending machines.
2. Employee Ran: Employees wash and clean the interior of the car while the customer waits. You’d want the vending machine in the waiting room.

#18. Restaurants Use Vending Machines to Save Time

If a restaurant has popular items that will stay good for a decent amount of time, it might boost business to offer them in vending machines. This is especially so in a location that makes it easy to pick up food on the way home from work. Check out this Pecan Pie Vending Machine outside Berdoll’s Farm:

#19. Health Food Stores

Offer to place a vending machine outside of a health food store and help them sell their products even when they’re closed. Communities that often sponsor athletic events that involve cycling and running might especially benefit from after hours service.  

#20. Hair Salons

Salons are bustling with activity and people will often get hungry or thirsty during a cut or dye job. Provide vending machines for employees or customers to get their snacks or drink on the go. You might even be able to offer alcohol in them.

#21. Parks are Great Places for Vending Machines

Offering drinks and snacks in a park is another great way to find vending machine locations. If you start a Hey Buddy Franchise, you can offer treats for humans and doggies in the same vending machine. Everyone will be happy when they get a treat with man’s best friend.

#22. Laundromats Need Specialty Vending Machines

Laundromats and vending machines go together like peanut butter and jelly. You can offer snack and drink machines, but don’t forget to offer products for laundry care, too. Check out Vend-Rite for vending machines specifically made for laundromats. If you’ve ever wondered how to start a laundromat business, we’ve got a blog about that, too.

#23. RV Parks Need Vending Machines

An RV Park is a great place for a vending machine because people often need drinks, ice, snacks, or personal hygiene items while traveling. If there is an RV Park near you, see if you can provide services.

$24. Waiting Rooms: Visitors Love Vending Machines

A waiting room is a great place to put a vending machine with healthy snacks like protein bars and granola bars. You’ll probably do well with drink machines as well. Provide vending needs for people waiting for a service to be completed and make a nice profit doing it.

#25. Break Rooms: Employees Need Snacks 

Employees need a place to get an easy snack or drink and a vending machine in the break room can be highly profitable. You’ll get a steady flow of revenue from these, especially in 24/7 businesses.

#26. Reception Desks Like Vending Machines

Placing a vending machine near the nurses' desks is a great way to make a huge profit because you can serve customers, visitors, and staff all from one machine.

#27 Fire Stations Need Food And Drinks

Firefighters commonly live at their stations during their shifts. They need drinks and snacks, so make it easy for them with a vending machine. Now that you know where to put vending machines, let’s look at how to find a vending machine location.

How to Find Vending Machine Locations

There are a ton of ways to find vending machine locations. You might want to try some of the following ideas.

• UpFlip: Buy Existing Routes
• BizBuySell: Buy Existing Routes
• Craigslist: Buy Existing Routes or Used Machines
• Vending Locator: Pay a Fee To Find Suggestions in Your Zip Code(s)
• Do Your Own Research: We’ll Show You How Next.

How to Find Locations For Vending Machine Using Business Lookups

You can look up businesses online to establish places you want to offer to put vending machines. I’m going to use Clark County, Nevada as an example. You’ll want to follow these steps:

1. Find Business Lookup Site for Your City
2. Review Search Options
3. Search by Category, Date of License, or Zip Code
4. Review Businesses
5. Reach Out to Business Owners
6. Visit the Location
7. Provide a Vending Machine Contract Proposal

The following steps are sparsely cited because this is a strategy I use when conducting research for my consulting business. Let’s look at each step.

Find Business Lookup Site for Your City

Do a quick Google Search to find your local business licensing lookup. In this example, the search would look like “Clark County business license lookup.” The results should look similar to the picture below: You want to make sure that it is the real site, which means look for a .gov in most scenarios. Click the link that says “Business License Search.” That will bring you to a page that will be similar to the one below: We’ll discuss what to do here in the next step.

Review Search Options 

On this step, you’ll have different ways to search for a business license including:

• Business Name: Use if you know the official business name, which is unlikely without some research.
• Business Owner: Use if you have a friend that owns businesses and you want to know where they are.
• Address of Business: Use if you know the exact address.
• Parcel Number: Use if the building is under construction and you can find the Parcel Number (normally found on signs).
• Business Category, Date of License, and Zip Code: This is the money maker. Find businesses that are in specific categories, then filter it by date and zip code.
• License Number: You’ll only know this if you have already dug into the information about a company.

Click on the “Search Business Category” option and it will take you to a page that looks like the one below:

Input Category, Date of License, or Zip Code

Each state will have slightly different options, but should be similar. I’ve done this in Dallas, Las Vegas, and Seattle, where all were similar. You can fill in as many of the following fields as you want.

• Category or Sub-Category: This option narrows the field down based on the license type. I’ll use “Category 072 Sub-category 170 Transient Lodging Establishment - Hotels, Motels, and Other,” but I’d normally leave this blank at first.
• Date of License: You can put a range. The wider the range, the more results. I used from June 1 to December 31 of 2022, but I’d normally use only December.
• Zip Code: Choose one, multiple, or all locations. If you choose multiple in Nevada, you’ll need to conduct multiple searches.
• Business Description: You can input keywords to see what comes up.
• License Status: “Active,” “Active and Pending,”  “Pending,” or “Inactive” are options on this page. Each state may be different.

Once you’ve put in the information, click enter and you’ll get results like the ones below. You’ll want a list of businesses to research that includes about 50-250 businesses, depending on how many machines you are trying to place. I only found six hotels so I would need some more from other categories in this example. Next, we’ll want to review each business.

Review Businesses

If you click on one of the licenses, it will take you to the summary page, which looks like the picture below. You specifically want the address, phone number, and owners’ name from the screen. Do your research on them to find out:

• The best way to contact them. 
• Personal interests, which can make it easier to connect on a personal level.
• Interesting accomplishments (also used to connect).
• Challenges they are facing (how you can help them).

Once you find enough information, it’s time to reach out to them.

Reach Out to Business Owners

Depending on the business, you can either do an email lookup, call them, or just go up there. An email or call is less expensive and might help establish if they are open to discussing your proposal. If they agree to meet with you, go visit them. If not, move on to the next business.

Visit the Location

When you visit the location, bring a:

• Vending machine contract proposal
• Literature about your machines
• Examples of how working with you will benefit them (or a document that puts your promise to them in writing)

Remember to be friendly and observe the location so you can describe where you’d put the machines and how often you’d provide service.

Provide a Vending Machine Contract Proposal

Once the property owner agrees that it makes sense to have a vending machine on their property, negotiate the terms and provide them a vending machine proposal contract. While many vending machine companies don’t like offering a percentage to the property owner, it is common to pay 5% to 20% of sales for lease of the space. Once they sign, start preparing to service their location.

Ready to Take The Next Step?

Now that you have established where to place your vending machines, it’s time to place them and provide stellar service to your customers. We’ve partnered with Adam to bring you the best information on starting a vending machine business. Sign up for our free class below: What are your favorite vending machine locations?

• Offices
• Hospitals
• Schools
• Gyms
• Other

Cleaning businesses are among the most commonly started businesses in the United States. In fact, Thimble estimates there are nearly 2 million cleaning companies in the U.S.   Christobal and I have worked together to develop this cleaning service checklist. We’ve broken it into the following sections: [su_note note_color="#dbeafc"] 1. Create a Plan Checklist 2. Name Your Cleaning Business Checklist 3. Form the Cleaning Business Structure Checklist 4. Get the Financial Tools to Run Your Cleaning Business Checklist 5. Get the Insurance to Run Your Cleaning Business 6. Get Equipment to Operate Your Cleaning Business Checklist 7. Get the Software to Run Your Cleaning Business Checklist 8. Marketing Tools for a Cleaning Service Checklist 9. Cleaning Company Supplies Checklist for 15 Types of Cleaning Companies[/su_note] If you want to learn about the process of starting a cleaning business, you can also check out our podcast or YouTube video where we interview Christobal Mondragon, Christobal started Queen Bee Cleaning Services for less than $5K and is making $120,000 per month!   [su_youtube url="https://www.youtube.com/embed/d4Iip7BHXwg"] Keep reading if you need to start a cleaning business from scratch.

Every Great Cleaning Business Starts with a Plan 

Starting a cleaning business requires juggling a lot of different tasks. Something will surely fall through the cracks if you don’t have a plan. Our first checklist involves creating a plan for how you’ll start a cleaning business. You’ll need to document each of these at a minimum: [su_note note_color="#dbeafc"] 1. Cleaning business ideas 2. Goals for your cleaning business 3. Your budget 4. Your pricing strategy 5. Your marketing plan[/su_note]

Name Your Cleaning Business Checklist

Every cleaning company needs a name. You’ll want to consider the name of your cleaning company early in the process of becoming a professional cleaner. You’ll want to cover each of these tasks before starting your own cleaning business:

•  Make the name easy to spell
•  Purchase a domain
•  Register and pay the DBA fee (if not included with the business structure)
•  Trademark the business name and logo

Learn more about naming a cleaning business.

Form the Cleaning Business Structure Checklist

You’ll need to register your business with the state to become a cleaning business owner. Each state, county, and municipality has business license regulations. You can also expect different insurance requirements depending on where you are located, your business structure, and whether you have employees. For any of the 50 U.S. states, you’ll need an EIN. These are the most common requirements for forming a cleaning business:

• Register your business with the state (choose one).
  • Sole Proprietorship
  • Limited Liability Company
  • Corporation
  • Partnership
• Get a DBA if you will operate under a different name.
• Apply for an EIN on the IRS website.
• Get county and city licenses.
• Apply for the required insurance.
• Get a seller’s permit (state tax ID).

Lean more about cleaning licensing by state.

Get the Financial Tools to Run Your Cleaning  Business Checklist

Every cleaning business will need to have some financial tools to operate successfully. Cleaning business owners should take some time for each of the following points:

• Set up a business bank account.
• Apply for a business credit card.
• Consider getting business loans.
• Find a payroll solutions provider.
• Get a payment processor.
• Choose and set up accounting software.
• Decide whether you want to set up a 401K.

Cleaning Business Insurance Checklist

A startup cleaning business will probably need insurance. The requirements will be different based on what segment of the cleaning industry you are in, but most cleaning companies will need one or more of these: [su_note note_color="#dbeafc"] 1. General liability insurance 2. Worker compensation insurance (if you hire employees) 3. Bond insurance 4. Unemployment (if you hire employees) 5. Professional liability insurance 6. Cybersecurity insurance 7. Commercial vehicle insurance 8. Health insurance (if required by law or if you want to be an awesome boss)[/su_note]

Cleaning Business Equipment Checklist

Most cleaning businesses will need the following equipment to operate effectively:

• Company vehicle
• Laptop or PC
• Smartphone
• Business phone number 
• Internet
• Point-of-Sale machine or credit card reader

Get the Software to Run Your Cleaning Services Checklist

Unless you plan to run your business old-school (which may be less than ideal), you’ll need software to run a cleaning business. We’ve provided a list of the most common software you’re likely to need when starting a cleaning business. As you begin, consider which ones you need right away and which you can wait until you hire employees:

• Payroll solutions
• Payment processor
• Accounting solutions
• Scheduling software
• Professional website (domain from GoDaddy and hosting)
• Online booking software
• Marketing tools (We have a complete list for them.)

Marketing for a Cleaning Service Checklist

You’ll need marketing tools to help your cleaning business grow and find prospective clients. Small business owners will benefit from the following brand assets:

• A logo
• Business cards
• Signs on location (if you run a dry cleaner or another cleaning shop)
• Signs on vehicles (for a mobile business model)
• Click Funnels

Chris specifically suggests using click funnels to make marketing your cleaning company easier. In addition, you’ll need to create profiles on local business directories that potential customers use to find local businesses. Most cleaning services list their offerings in the following locations.

• Google My Business
• Google Local Ads
• Facebook
• LinkedIn
• Siri and Apple Maps
• Angi.com
• Yelp for Business
• Thumbtack
• Alexa
• Blanket

Chris told us: [su_quote]Google Local ads are my top performing paid marketing platform, but I also spend routinely on Facebook, Craigslist, and Yelp ads.[/su_quote] Fifty to 80% of his monthly ad budget is on Google Local Ads so if you aren’t using them, start now. You’ll also want to make sure that major search engines index your new business:

• Google
• Bing
• Baidu
• Yahoo
• Yandex
• Ask.com
• DuckDuckGo

Cleaning Supplies Checklist

Depending on the type of cleaning services you offer, you’ll need different cleaning supplies and equipment. We’ve broken the cleaning supplies you’ll need into different categories based on the kind of cleaning business you plan to start. Use the list below to skip to the section with supplies for starting a cleaning business in your sector:

1. Home Cleaning
2. Mobile Laundry Cleaning Services, Laundromat, Clothes Cleaning Business, Dry cleaning
3. Decluttering Services or Organizer
4. Green Cleaning Services
5. Airbnb, Vrbo 
6. Home or Commercial Construction Cleaning
7. Move-In, Move-Out Cleaning
8. Office Cleaning
9. Duct Cleaning
10. Carpet Cleaning
11. Window Washers
12. I.T. Cleaning
13. Property Cleaning,  Pressure Washing
14. Hazardous Waste Removal
15. Boat Cleaning

We provide the Amazon links for cleaning products in another blog.

Home Cleaning Supplies Checklist

This is the checklist I would expect most cleaning services to want, so I put it first. You’ll need the following supplies to clean homes:

• Glass cleaner (Windex or similar)
• Aprons
• Vacuum cleaner
• Wet floor signs
• Microfiber mop (optional if you are just starting)
• Regular mop
• Gloves
• Toilet bowl brush
• Bags for dirty rags
• Bags to carry clean rags
• Neutral floor cleaner (Bona or similar)
• Disinfectant cleaner
• Cleaning bucket
• Mini grout brush

To download a “House Cleaning Business Checklist” for residential cleaning supplies, click here.

Mobile Laundry Cleaning Services, Laundromat, Clothes Cleaning Business, Dry cleaning

• Hangers
• Rolling baskets
• Laundry soap
• Cleaning chemicals for dry cleaning
• Dryer sheets
• Clothing racks
• Washing machines
• Dryers
• Garment covers
• Spot cleaner
• Information tags
• Clothing conveyor
• Presses

To download the “Starting a Cleaning Business Checklist” for laundry cleaning supplies, click here:

Decluttering Services or Organizer

• Trash bags
• Boxes
• Cleaning materials
• Tape
• Sharpie
• Storage bins of various sizes
• 3D modeling software to model spaces
• Carpentry tools for creating more storage space
• Shelving units

To download the “Cleaning Checklist” with organizational supplies, click here.

Green Cleaning Services

• Organic glass cleaner 
• Aprons (from recycled materials)
• Vacuum cleaner
• Wet floor signs
• Microfiber mop
• Regular mop
• Eco-friendly gloves
• Toilet bowl brush
• Reusable bags for dirty rags
• Reusable bags to carry clean rags
• Gas mileage-friendly, hybrid, or electric car
• Natural floor cleaner
• Natural disinfectant 
• Cleaning bucket
• Mini grout brush

To download the “Starting a Cleaning Business Checklist” with sustainable cleaning supplies, click here.

What do I need to start a cleaning business for Airbnb properties?

If you want to serve Airbnb, Vrbo, and other short-term rentals, you’ll need the same cleaning supplies as you would for a home or apartment:

• Glass cleaner (Windex or similar)
• Aprons
• Vacuum cleaner
• Microfiber mop (Optional)
• Regular mop
• Gloves
• Toilet bowl brush
• Bags for dirty rags
• Bags to carry clean rags
• Booties for shoes
• Neutral floor cleaner (Bona or similar)
• Disinfectant cleaner
• Cleaning bucket
• Mini grout brush

Christobal also suggests having a partnership with a laundromat or a way to offer turnover service. If you provide this service, you’ll need:

• Spare sheets
• A deal with a local laundromat
• Dish soap
• Shampoo
• Conditioner
• Body wash
• Towels

If you want our “Start a Cleaning Business Checklist for Airbnbs,” download it on our Airbnb download page.

New Home Construction Cleaner or New Commercial Construction Cleaning

Some commercial cleaning businesses are focused on post-construction cleanup. They have unique needs because the debris in construction zones is horrible for indoor air quality. These cleaning jobs pay more, but they require special tools that you might not need with other cleaning companies. You’ll want to have the following:

• Glass cleaner (Windex or similar)
• Aprons
• Vacuum cleaner
• Indoor, outdoor vacuum
• Booties for shoes
• Microfiber mop (optional if you are just starting)
• Regular mop
• Gloves
• Toilet bowl brush
• Bags for dirty rags
• Bags to carry clean rags
• Neutral floor cleaner
• Disinfectant cleaner
• Cleaning bucket
• Mini grout brush
• Dust mask

To download the “Starting a Construction Cleaning Business Checklist” with residential cleaning supplies, click here.

Move-In and Move-Out Cleaning, Apartment Cleaning

• Glass cleaner (Windex or similar)
• Aprons
• Vacuum cleaner
• Indoor, outdoor vacuum
• Booties for shoes
• Microfiber mop (optional if you are just starting)
• Regular mop
• Gloves
• Toilet bowl brush
• Bags for dirty rags
• Bags to carry clean rags
• Neutral floor cleaner
• Disinfectant cleaner
• Cleaning bucket
• Mini grout brush
• Degreaser
• Putty to help fill holes
• Putty application tool

To download the “Starting an Apartment Cleaning Business Checklist,” go to our apartment cleaning download page.

Office Cleaning

Commercial cleaning services are also in high demand. You’ll want the following supplies when cleaning offices:

• All-purpose stain and spot remover
• Baking soda
• Wet floor signs
• Toilet paper
• Bucket 
• Broom and dustpan
• Dish soap
• Clorox disinfecting wipes 
• Facial tissue
• Feather duster 
• Floor cleaning solution or vinegar
• Cleaner for glass and mirrors
• Gloves
• Bulk supply of hand soap to refill dispenser
• Sponges
• Disinfecting spray
• Micro-fiber cleaning cloths 
• Paper towels
• Sponge mop and/or dry mop
• Toilet cleaner
• Trash bags 
• Vinegar 
• Vacuum
• Industrial mop bucket
• Wood polish 
• Floor polishing machine
• Extension cords

To download the “Starting a Commercial Cleaning Business Checklist” with commercial-grade cleaning supplies, click here.

Specialty Cleaning

The following services are specialties that come with additional challenges. They may require special business licenses, services, or equipment. Lean about specialty cleaning services you can offer.

Duct Cleaning

Duct cleaning removes indoor air pollutants from the ductwork of a home or business HVAC unit. If you are going to offer this service, start by going to the National Air Duct Cleaners Association website to learn how to do it right.  Without the proper equipment and training, you might cause damage to residential cleaning customers' HVAC units. Nobody wants to have to replace an HVAC system because a house cleaning business didn’t follow proper quality control standards.  You will need these items:

• Caution signs
• Air compressor
• HEPA vacuum
• Duct restoration products
• Parts for maintenance of equipment
• HEPA filters and bags
• Indoor air quality testing equipment
• Tape
• Safety goggles
• Booties
• Latex gloves
• Electric shock prevention gloves
• Masks to protect against dust in lungs (or chemicals in some industrial facilities)
• Lockout, tagout system (a lock with a tag that specifies who locked the breaker)

To download the “Starting a Duct Cleaning Business Checklist” with NADCA authorized cleaning supplies, go to our duct cleaning business download page.

Carpet Cleaning Business, Rug Cleaning

• Vacuum 
• Spot cleaner
• Caution signs
• Carpet shampooer
• Air scrubber
• Carpet cleaning wand
• Rubber gloves
• Corner guards
• Defoaming agent
• Crevice tools
• Carpet rake
• furniture protectors 

To download the “Starting a Carpet Cleaning Business Checklist” with carpet cleaning supplies, click here.

Window Cleaning Business

• Two 18” squeegees
• Window cleaner with silicon (keeps dust from sticking to windows)
• Rags to catch excess liquids
• Booties
• Scrapers 
• Replacement s-channels (the rubber part of a squeegee)
• Sleeves (goes over squeegee to wash the window)
• Step stool
• Ladder
• Hard hat (primarily for use on scaffold)
• Safety harness (use with scaffold)
• Scaffold (for larger windows)

To download the “Starting a Window Cleaning Business Checklist” with window cleaning supplies, go to our window cleaning business download page.

IT Cleaning Business

Cleaning computers and other equipment that has circuit boards requires specific cleaning chemicals. In addition, make sure to carry proper insurance because the potential data loss from using the wrong chemicals could destroy a business. The Association of Data Center Cleaning Professionals is the leader in standards for IT equipment. Review their standards before using this checklist. The following is from their standards on cleaning equipment:

• Vacuums: Two Options
• Preferred: ULPA (Ultra Low Particulate Air) filter with 99.999% efficiency at 0.12 microns
• OK: HEPA (High-Efficiency Particulate Air) filter with 99.97% efficiency at 0.3 microns
• Tools, Attachments, and Supplies: Requirements
• Non-conductive 
• Low-lint materials
• Packaging specifies that it is designed to be used in cleanroom environments
• Cleaning Chemicals
• Floor surfaces
• Non-ammoniated
• Designated as safe for data center environments
• Intended for HPL floor tiles
• Equipment Surfaces
• Anti-static cleaner 
• Designed to be used in a data center environment

To download the “Starting an IT Cleaning Business Checklist” with cleaning supplies that are safe to use on circuit boards, click here.

Property Cleaning Services, Power Washer Business

We grouped pressure washing businesses and property cleaning services together because they are similar and both outside. They are both outside and can be done as a team to improve the number of customers helped in a day. You will need:

• Broom and dustpan
• Trash picker
• Trash bags
• Blower
• Rake
• White and yellow paint (maintain the parking lot lines)
• Graffiti removal kit
• Pressure washer
• Water tank
• Towing hitch (if tank won’t fit in vehicle)
• Nozzles 
• Hoses

To download the “Starting a Property Cleaning Business Checklist” with a power washer, go to our property cleaning business download page.

Hazardous Waste Removal, Mold Remediation

We grouped hazardous waste removal and mold remediation businesses together because they have similar requirements, but each type of hazardous material will have its own requirements. For many of these you will need:

• Portable air scrubbers
• Filters
• Negative air machines
• Mobile containment tent
• Meters to measure levels
• Asbestos testing kit
• Dehumidifiers
• Zip walls
• Disinfectants 
• Sealants
• Knee pads
• Kneeling mats
• Gloves 
• Ventilators
• Hazmat suits (for some materials)
• Special licensing based on type of removal

To download the “Starting a Hazardous Waste Removal Business Checklist” with waste and mold remediation supplies, go to our waste removal cleaning business download page.

Boat Cleaning

You’ll likely need the same items as when cleaning a home, plus some outdoor items. Based on my time in Florida, I would recommend products that help protect against salinity (salt in the air). Don’t forget these:

• Bucket 
• Rust remover 
• Deck brush
• Degreaser
• Metal polish
• Wood varnish
• Soap
• Mop
• Mop bucket
• Fabric cleaner
• Rubber cleaner

To download the “Starting a Boat Cleaning Business Checklist” with related supplies, click here.

Hopefully, You Found the Cleaning Company Checklist You Need

Use these lists to get your brain rolling as you prepare for the cleaning company course with Chris. If you want more help to simplify starting your cleaning business, sign up to be one of the first to take the Cleaning Business Master Course. What kind of cleaning business are you thinking about starting?

You want your time to be used wisely when you start your own business. That means you should know the most profitable businesses to start with the time, education, resources, and connections you currently have.

What’s considered “profitable” is always changing, of course, and that’s why we continually update our rankings. Every year the most profitable businesses will change slightly as our economy evolves, products become obsolete, and technology advances.

What follows is a freshly updated ranking of the most profitable small businesses, plus the info and resources you need to get started.

[su_note note_color="#dbeafc"]You’ll want to check out the following businesses. Click on any of the links below to jump to the one that interests you.

• Industries With the Most Profitable Business Ideas
• What Small Business is Good to Start?
  • 1. Cupcake Business
  • 2. Sports Memorabilia Shop
  • 3. Bridal Gowns and Accessories
  • 4. Consignment Shop
  • 5. Food Truck
  • 6. Bed and Breakfast (B&B)
  • 7. Party Rental Business
  • 8. Sewing and Alterations Shop
  • 9. Gently Used Maternity Clothing Shop
  • 10. Cleaning Service
  • 11. Virtual Assistant
  • 12. Social Media Management
  • 13. Accounting and Bookkeeping
  • 14. Consulting
• Least Profitable Industries
• Frequently Asked Questions (FAQs)
  • What are the top five most profitable businesses in the world?
  • What are the easiest businesses to start?
  • What businesses are in high demand?
• So What Are the Most Profitable Businesses to Start?[/su_note]

Industries With the Most Profitable Business Ideas

First, some context. We took a look at financial reports from early 2024 to ensure relatively recent data. When you consider industries with the most profitable businesses in demand, you’ll find:

1. Financials: The monetary sector leads the most profitable companies, with over 30% net income and gross profits for banks nearing 100%.
2. Oil & Gas: The oil and gas energy still has high net profits with 28.26% and a gross profit of 58.75%
3. Tobacco Companies: Selling addictive products pays off with a 27.52 net profit and 61.25% gross profit. If you could start growing and selling your own tobacco, you’d probably make a killing!
4. Transportation Companies: Railroads aren’t making as much as previous years, but they still have a 23.52% average net profit. Ship makers also have been making a great living.
5. Real Estate Investment Trusts (REITs): Real estate investment trusts are a big winner this year. They moved up from ninth place last year. Players in this industry can expect to earn 23.32% net profit and nearly 78% gross margins.
6. Software: Entertainment and system applications software companies are doing well with 20% net margins. Entertainment software has gross margins of 63%, while systems and applications have around 72% gross margins.
7. Investments and Asset Management: Managing other people’s money is an easy startup business. People with the right qualifications can tap into 19.82% net income and 67% gross margins.
8. Water Utilities: Providing water to municipalities can earn a sweet 19.34% net margin and 56% gross margin.
9. Semiconductors: Producing parts for electronic equipment can earn 17.94% net profits.
10. Computers: Computer and peripherals companies have a slightly less profitable business than the semiconductor companies that provide much of their technology, but they still have 17.47% profits.

Many of the most profitable businesses aren’t practical for people who want successful small business ideas for business owners.

Most of us don’t have access to venture capitalists or the ability to run a business for 10 years before it starts making money. So, we’re constraining our list to the most profitable and best small businesses to start.

What Small Business is Good to Start?

A good small business to start will normally have high growth opportunities and low barriers of entry, work well as a home-based business, and provide great profit margins. We’ve handpicked some of the most profitable small business ideas for you. Check out our picks for best profitable businesses 2024 below.

1. Cupcake Business

• Average Annual Revenue: $1.95M
• Average Profit Margins: 5.4%
• Startup Costs: $100-$3M
• Time To Revenue: 1-6 months
• Annual Market Growth Rate: 1.1%
• Best For: Cooks, chefs, bakers, or foodies with customer service, leadership, and marketing skills

Does your baking prowess receive rave reviews?

Consider exploring that talent! The cake industry is anticipated to see 3.3% growth, bringing it to $94.7 billion globally in 2028. Small specialty shops are poised to reap the majority of the profits.

A cupcake business emerges as a feasible option for individuals with limited resources. Launching this potential home-based venture requires only an oven and basic baking supplies.

As sales pick up, there's room for expansion to larger formats. Initially, you might sell cupcakes in a display case at a local shop, progress to a food truck, and eventually establish a standalone brick-and-mortar store.

Before diving in, thoroughly research the laws in your state governing the licenses, permits, and standards applicable to your budding bakery business.

Find out how Mignon Francois started the Cupcake Collection with just $5 and built a $10 million cupcake empire.

https://www.youtube.com/watch?v=jmviDvmh5js

2. Sports Memorabilia Shop

• Average Annual Revenue: $453,257
• Average Profit Margins: 6.7%
• Startup Costs: $100K-$3.5M
• Time To Revenue: 6-18 months
• Annual Market Growth Rate: 1.5%
• Best For: Sports and pop culture experts, customer- and community-focused entrepreneurs, collectors

The current valuation of the sports memorabilia market is $26.1 billion—and it’s expected to grow to $227.2 billion by 2032 according to a report by Market Decipher.

This projection suggests significant annual profits for brick-and-mortar sports memorabilia shops. The essence of this small business concept lies in acquiring genuine or replica memorabilia and reselling it at a markup.

Procure memorabilia through various channels, including wholesalers, auctions, estate sales, advertisements, and online platforms like eBay. Make sure to confirm the authenticity of any signed memorabilia by autograph authenticators.

As you become proficient in authenticating pieces, you can generate additional income by authenticating memorabilia brought to your shop by customers.

Find out how Jim Sears makes $750K a year selling sports cards.

https://www.youtube.com/watch?v=bP5_Zt9VFXY

3. Bridal Gowns and Accessories

• Average Annual Revenue: $114K+
• Average Profit Margins: 10.3%
• Startup Costs: $500-$250K
• Time To Revenue: 3+ months
• Annual Market Growth Rate: 2.0%
• Best For: Designers, artists, and fashion experts with strong marketing and customer service skills

The bridal industry is expected to grow to $79.8 billion by 2027, which is a compound annual growth rate of 4.4%. According to BusinessWire, nearly 85% of bridal shopping is still done in retail stores.

Pro Tip: Note that bridal shops may cost $250,000 or more to get started because of all the gowns, veils, and accessories you’ll have to stock for your customers.

4. Consignment Shop

• Average Annual Revenue: $60K-$120K
• Average Profit Margins: 5-15%
• Startup Costs: $100-$10K
• Time To Revenue: 30-90 days
• Annual Market Growth Rate: -9.3%
• Best For: Fashion and style experts who are excellent negotiators and communicators

The projected growth of the secondhand market in the U.S. is astonishing. According to GlobalData and thredUP, the resale clothing market is expected to more than double its current value. With a growth rate that’s 16x faster than the overall retail clothing market, the resale clothing industry will reach a value of $82 billion by 2026.

A consignment shop is the ideal business model for entrepreneurs with limited funds. Entrepreneurs can participate in the profits without purchasing inventory by showcasing other people’s used products, including clothing, antiques, collectibles, and memorabilia.

Additionally, selling items on online marketplaces like Poshmark, Mercari, and eBay creates additional profitable opportunities by expanding to a national or even global market.

Primary consignment shop expenses are:

• Business formation as an LLC
• Storefront rental
• Licenses and insurance
• Inventory
• Point-of-sale (POS) system
• Hiring (if needed)

Overall, the growth in the secondhand market presents a promising opportunity for entrepreneurs interested in the consignment business model.

5. Food Truck

• Average Annual Revenue: $41K+
• Average Profit Margins: 6.4%
• Startup Cost: $1K-$100K
• Time to Revenue: 3+ months
• Annual Market Growth Rate: 1.2%
• Best For: Foodies, chefs, cooks, bakers, and other food service veterans

Many people start food trucks because they are more profitable than owning a restaurant. You can save money by:

• Holding off on hiring employees
• Avoiding the costs associated with a building
• Offering a more focused menu

Kyle Gourlie, the owner of Vet Chef, told us:

[su_quote]To get started, it cost me around $41,200. Today, I am making $417K a year and aim to keep my food costs under 35%.[/su_quote]

Check out our interview with him below to learn how to start a profitable food truck business.

Keep reading for more of our top small business ideas that will make for the most profitable, best businesses in 2024.

6. Bed and Breakfast (B&B)

• Average Annual Revenue: $263K+
• Average Profit Margins: 10.1%
• Startup Cost: $100K-$3.5M
• Time to Revenue: 6-18 months
• Annual Market Growth Rate: 1.3%
• Best For: Property owners who are service industry pros with a passion for entertaining and hosting

If you happen to own a charming, rustic, or historically significant home, a bed and breakfast could serve as an excellent starter business.

According to the Bureau of Labor Statistics, the U.S. bed and breakfast (B&B) industry is presently valued at $2 billion. While it faced a slowdown during the COVID-19 pandemic, its typical growth rate stands at 3.8% annually.

One notable advantage is you’ll live in the business, which cuts down the costs of accommodations. Customers normally expect:

• Personalized customer service
• Unique travel experience
• Home-cooked meals
• Grocery stores nearby
• Personal advice about local attractions

Pro Tip: It's important to invest in home insurance, a food handling permit, and potentially a license to sell alcohol, if applicable. Additionally, if you plan to convert a traditional home into a B&B business, collaborating with your local planning commission may be necessary.

7. Party Rental Business

• Average Annual Revenue: $444K+
• Average Profit Margins: 35-40%
• Startup Cost: $100-$3.5M
• Time to Revenue: 6-18 months
• Annual Market Growth Rate: -0.8%
• Best For: People who own rentable assets, collectors, great networkers

The party rental industry boasts a valuation of $5.9 billion and is experiencing a steady annual growth of 4.3% as indicated by Research and Markets.

A business in party rentals involves leasing various products for events, including tables, tents, caterers, sound equipment, and stages. The venture holds significant profit potential, and your business could cater to a range of events, from nonprofit fundraisers to upscale galas.

While the potential earnings are promising, it's crucial to make a substantial upfront investment in equipment before expecting to see profits. The strategy involves recovering these costs through repeated equipment rentals.

When setting up your business's inventory, you can consider the option of renting a storage facility to potentially save costs. Then maximize community awareness of your offerings by engaging in robust marketing efforts. Establish a physical location as early as possible to build brand credibility and reap long-term savings.

8. Sewing and Alterations Shop

• Average Annual Revenue: $27K+
• Average Profit Margins: 8.3%
• Startup Cost: $500-$250K
• Time to Revenue: 3+ months
• Annual Market Growth Rate: 1.6%
• Best For: Detail-focused entrepreneurs, fashion and clothing experts who excel at listening and communication

Tailoring and alterations earn $9.4 billion, and the industry is anticipated to experience 4.7% year-over-year growth according to a report by Polaris Market Research.

The beauty of venturing into this type of business lies in its scalability, plus it will help you expand your skill set. Tasks like sewing simple hems and replacing buttons might evolve into dressmaking and design as your knowledge and experience grow.

I actually have an acquaintance who designed costumes for Cirque de Soleil before opening her own small business. With that experience in altering and customizing high-end garments, she opened a brick-and-mortar shop and gets asked to design work for businesses and live performances throughout the country.

During the initial stages, it is entirely respectable to launch your operation in a clean, smoke- and pet-free space within your home.

Pro Tip: Begin by making gradual investments in a commercial-grade sewing machine, a variety of fabrics, backup equipment, and a point-of-sale (POS) system. The costs can range from $150 for an entry-level sewing machine to $10,000 or more for a top-of-the-line model.

9. Gently Used Maternity Clothing Shop

• Average Annual Revenue: $60K-$120K
• Average Profit Margins: 5-15%
• Startup Costs: $100-$10K
• Time To Revenue: 30-90 days
• Annual Market Growth Rate: -9.3%
• Best For: Fashion and style experts who are excellent negotiators and communicators

In 2021, the maternity wear industry held a valuation of $12.2 billion, and projections from Research and Markets indicate a growth to $16.5 billion by 2028, featuring a 4.4% year-over-year increase.

The demand for formal business women's maternity attire is notably driven by the nearly 57% female composition of the U.S. workforce, as per the Bureau of Labor Statistics.

Following their pregnancies, many women opt to pass their maternity clothing on to others in need. You can play a role in facilitating this by establishing a shop specializing in gently used maternity attire and other pregnancy supplies.

Start your used maternity clothing venture by selecting and legally formalizing your business structure.

Then, get a seller's permit and source inventory from social media, consignment shops, and thrift stores. Promote your business within the community, expressing your interest in purchasing used maternity clothing. Finally, ensure profitability by selling the clothing at prices that exceed your purchase cost.

10. Cleaning Service

• Average Annual Revenue: $74K+
• Average Profit Margins: 6.7%
• Startup Costs: $1K-$30K
• Time to Revenue: 1-6 months
• Annual Market Growth Rate: 1.2%
• Best For: Self-motivated, independent, and detail-oriented entrepreneurs

Cleaning businesses are virtually gold mines. They’re easy to start, and they have high success rates. Our friend Chris Mondragon pulls in over $125K monthly with his company, Queen Bee Cleaning! In his words:

[su_quote]As you start out, your margins are 40-50%.[/su_quote]

Forty to fifty percent! Seasoned business owners and aspiring entrepreneurs know how significant that is! With only 13 weekly cleaning contracts, you can rake in $7,800—not in revenue, but pure profit! Now imagine signing 20 or 30 of these high-paying contracts.

Cleaning is a business built to scale. But be careful: You can’t scale to millions of dollars just anywhere. There’s a tried-and-true calculation that reveals the earning potential in your area. If the numbers line up, you can scale to seven figures.

If you’re curious about how to use the calculation and want to know how to start your cleaning business from scratch—no franchise required—check out this free masterclass with Chris Mondragon.

You can read Chris’s incredible story here or watch our exclusive interview below.

https://www.youtube.com/watch?v=YcYIYdqegGA

11. Virtual Assistant

• Average Annual Revenue: $35K-$50K
• Average Profit Margins: 10.5%
• Startup Costs: $100-$200
• Time To Revenue: 1-3 months
• Annual Market Growth Rate: 1.9%
• Best For: People with strong organization and communication skills, those who want to work from home and set their own hours

Becoming a virtual assistant for clients you choose is a profitable business to start. Some of the top virtual assistants on Upwork make $85 an hour. That’s up to $152K per year for doing things like scheduling appointments, sending emails, completing research, and other jobs you can do remotely.

Like other jobs that use a knowledge-based business model, the main startup costs are licensing and software. If you want to make more than that, you can start a VA agency and hire other people to help with this small business idea.

12. Social Media Management

• Average Annual Revenue: $817K
• Average Profit Margins: 6.9%
• Startup Costs: $100-$10K
• Time to Revenue: 1-6 months
• Annual Market Growth Rate: 1.3%
• Best For: Social media experts, writers and content creators, people with search engine optimization (SEO) expertise

Social media marketing is a vast industry. According to Statista, it is a $153.7 billion industry. And all you need is a computer, some software, and to find some clients.

Jason Yormark of Socialistics told us:

[su_quote]You can expect each client to be around $2,000-5,000 per month and require 20-40 man-hours to give them proper service.[/su_quote]

That means a single person can make up to $40K monthly from home without investing in inventory. Find out how Jason turned his company into a $500K-a-year social media marketing agency:

https://www.youtube.com/watch?v=kb1czTEK8f8

Pro Tip: You can also learn from our blog on how to start a marketing agency.

13. Accounting and Bookkeeping

• Average Annual Revenue: $244K per employee
• Average Profit Margins: 18%
• Startup Cost: $500-$2.5K
• Time To Revenue: 3-12 months (plus accounting degree)
• Annual Market Growth Rate: 1%
• Best For: Certified accountants, entrepreneurs with strong math and financial skills

To become a certified public accountant, you will need 150 hours of education in accounting. That’s a bachelor’s degree and passing the CPA exam, which is a test for proficiency created by the American Institute for Certified Public Accountants (AICPA).

Once you have a CPA license, you can start a company and make a great living. There are only 40,000 AICPA members and over 80 million tax returns filed annually by tax professionals, so there’s plenty of work.

Granted, tax prep services do some of those, but CPAs do the big ones. Even at the low end of $100 per tax return, that’s still $8 billion in revenue, and that’s just part of what CPAs do.

Add in payroll, quarterly minimum filing, certifying businesses for SOC 2 compliance, managing business sales tax payments, and other business finances, and it’s obvious why working as a CPA is one of the most lucrative business ideas in 2022.

14. Consulting

• Average Annual Revenue: $364K
• Average Profit Margins: 6.4%
• Startup Costs: $1K-$3.5M
• Time To Revenue: 6-18 months
• Annual Market Growth Rate: 2.2%
• Best For: Executives and business leaders, entrepreneurs with management or business expertise, people with strong analytic, problem-solving, and communication skills

A consulting business is focused on helping other business owners solve their problems. You can choose a niche if you have a specific area in which you are an expert, or you can be an all-in-one solution.

When I initially started my consulting business, I was consulting on everything. One day I’d analyze payment processors, and the next, I would look for good influencers for a brand. I eventually gravitated to writing about business and technology because it makes it easier to pass knowledge on to thousands of people per month.

Business consultants can make anywhere from several hundred per day to billions per year. Consultants who specialize in mergers and acquisitions can earn huge commissions.

Check out this interview with Ryan Gromfin, who makes $35K a month with his consulting business:

Least Profitable Industries

There are some industries that are really struggling right now. You might want to avoid these industries if you want to make a profit fast.

Industry	Net Income
Entertainment	-0.23%
Telecom Services	-0.28%
Chemical (Diversified)	-1.01%
Broadcasting	-1.41%
Furniture & Home Furnishings	-2.24%
Rubber & Tires	-2.53%
Electronics (Consumer & Office)	-3.05%
Real Estate (Operations & Services)	-3.14%
Precious Metals	-4.26%
Drugs (Biotechnology)	-11.88%
Software (Internet)	-14.32%
Real Estate (Development)	-16.35%

Most of these industries are tied to big purchases. You’re seeing losses tied to inflation of expenses like materials and wages, combined with people cutting back on making new purchases. This is expected when discretionary income decreases.

Pro Tip: Assuming wage growth continues and outpaces inflation, we should see these return to profitability in a few years. Until then, our blog on recession-proof businesses can provide even more inspiration for getting started in a bad (or questionable) economy.

Frequently Asked Questions (FAQs)

What are the top five most profitable businesses in the world?

According to CompaniesMarketCap.com on December 11, 2023, the five most profitable businesses were

1. Apple (valued at $2.99 trillion)
2. Microsoft (valued at $2.741 trillion)
3. Saudi Aramco (valued at $2.139 trillion)
4. Alphabet (Google, valued at $1.665 trillion)
5. Amazon (valued at $1.503 trillion).

Note that the values of these companies fluctuate daily.

What are the easiest businesses to start?

Dog walking, house cleaning, and sewing businesses are the easiest to start because they have low startup costs and low barriers when it comes to getting licenses and permits.

What businesses are in high demand?

IBISWorld states that fruit and nut farming, solar power, online gambling services, hybrid and electric vehicle manufacturing, and 3D printing and prototyping are the fastest-growing businesses in 2024.

So What Are the Most Profitable Businesses to Start?

We’ve discussed the most profitable business ideas from multiple vantage points. Some are easy businesses to start from home, and some are not as easy to get into because of education requirements or other barriers to entry.

When it comes down to it, the most profitable business for you to start is one you have knowledge in, you know how to find customers for, and you want to spend the rest of your life exploring and working with.

You can make any of your favorite 2024 business ideas one of the most profitable and successful business ideas if you:

1. Create a business plan: Read our guide if you’ve never created one.
2. Provide excellent customer service: Check out HelpScout’s blog on what makes great customer service.
3. Educate yourself on the industry: Follow our blogs and YouTube.
4. Don’t give up: Many business owners give up right before they hit exponential growth. Learn how to run a business.

What other profitable and successful small business ideas are you thinking about starting?