30 of the Best Businesses to Own

starting your own business

The United States is one of the pioneering countries to shift the tides of processes and logistics in businesses. The forward-thinkers that we are, we are no longer living in the past; we now look ahead to what’s in store for a bright future.

Having a successful business is a great way to be your own boss and create financial freedom. Owning one of the best businesses to own can provide consistent income and scalable growth potential. So, what is the best business to start?

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We are looking at current and upcoming trends to secure competitive leverage in our business of choice. You may be revisiting business ideas and reconsidering how they might work this time–or perhaps brewing brand-new ideas because business is all about innovation.

If you’re one to consider starting a new business and dream of profiting from your new venture in the coming year, you’re in the right place. We’ve listed the best businesses promising signs of success that you may want to research in the future!

best business to start

1. Small Business Cybersecurity Software

If you have a knack for technology and want a way to keep hackers at bay, then creating software to protect online accounts for small businesses is also a good business to start. Consumers would want their online accounts safe and secure as they do their transactions online.

Online banking and retail businesses are some that need such protection. There are other ways consumers are communicating with retailers online making this a good industry to start a business in.

2. E-commerce Distribution Platform for Small Businesses

The USA particularly experienced eCommerce growth of about $450 billion since 2016. While the statistics may look optimistic, Amazon is still the colossal company that is making it hard for small businesses to get a “piece of the pie” from this industry.

That said, however, smaller businesses are able to compete and thrive by providing shipping services and storing and distributing products. It is projected that in the long run, small businesses will be able to manage online sales on their own.

Evidently, smaller distributors are increasing in number and significantly drawing interest from the end market, making it an attractive business to own in 2024.

3. Consultation for Retail and Distribution Businesses

Consumers are shifting their focus from traditional purchases to online shopping. This trend has been continuously going up and is expected to exceed $740 billion dollars between now and 2023. China is taking advantage of both retail and distribution aspects by shrinking the front space and making more room for distribution.

This makes for an ideal retail outlet with storefronts. You can create a small business from this even with little foot traffic in your area and use your space more efficiently. E-commerce’s potential doesn’t look like it will slow down anytime soon.

4. International Trade Consulting Firm

While some may agree (or disagree), the Trump era has paved the way for significant changes with global economies at stake. And for businesses planning to expand their distribution of goods abroad, you may need to take advantage of your know-how in International trade.

Companies running an International Trade consultation company could help businesses thrive amidst the trade war between China and the U.S. Businesses would seek consultation for global trading with the ever-changing economic shifts requiring further changes in current regulations and tariffs.

5. Personal CyberSecurity Software

Year over year, cybersecurity attacks haven’t slowed down, and in fact, are increasingly becoming threatening. According to information from yet another recent Facebook breach, about 50 million personal profiles were exposed to another attack.

Practically anyone with a smartphone was susceptible to this type of cybersecurity threat. It’s becoming clear there’s no telling whether or not we’re completely safe when we go online.

That said, there is no doubt that people will be drawn to software that promises cybersecurity. They’d be willing to pay a small premium for their peace of mind.

6. Substance Addiction Amenities

Cost-efficient addiction centers for substance abuse may be a good business to start in 2022. According to the National Survey on Drug Use and Health (NSDUH), there were about 2.15 million adults (12 years old and older) who fought with substance abuse in 2014.

The legalization of marijuana could lead to deep consequences that could mean a rise in substance abuse where it is legal. The legal and illegal aspects of substance abuse may mean more facilities are needed to cater to individuals seeking treatment.

It could be best to open facilities in these states where people use re-creative marijuana. You can seek financial help from state grants to help you with funding. You can opt to check agencies like SAMHSA to help you start the business.

7. Drone-Powered Security

Since the release of drones in 2002, these machines have evolved into more sophisticated innovations with a variety of uses, including for farming, food deliveries, and security purposes.

Drones provide surveillance for larger areas (most often for spots that are typically inaccessible) installed with thermal and HD features. It also provides a safer option for sparing human lives from threats and harm.

Though China may be leading the global drone development, the U.S. (Impossible Aerospace) plans to surpass this feat. You will only need a relatively small capital to start a security drone company. Special features such as thermal, no-noise, and HD capabilities are some basic components. If you’re a thrifty shopper, you can create this special drone for about $1,500.

8. Digital Assistant Integrations Company

High-profile individuals and executives require assistants to help them keep their activities and appointments in order. Artificial Intelligence (AI) is a digital assistant that can perform such tasks.

There is a good market for IT developers who have a knack for creating AI. Interacting with a digital assistant via voice to solve problems for the user is possible as with Porsche. There are other aspects where AI is useful, such as image caption generation, image classification, and deep learning robots to name a few.

9. The School for the Future

With the rise of AI, disruption is inevitable. People will need to think and work differently especially when using technology. This will change the way school institutions prepare the next generation.

These “out of the box” schools immerse students in communities and use technology to derive solutions to pressing community problems. The school of the future is usually a private entity that teaches people to use AI to keep up with the changes.

Along with this is the rising demand for soft skills along with hard skills that are essential attributes for them to work more efficiently in teams or negotiations. Those in the education field specializing in IT may want to take advantage of this shift.

10. Corporate Immigration Consultant

Under the Trump administration, the changes in immigration laws may just prove to be a profitable business as well (such is the case with more stringent access to the U.S. for immigrants). Despite these changes, various businesses are still in need of immigrants to fill job positions in the U.S.  Some industries require an immigrant workforce such as farming, construction, leisure, and other personal services.

The changes in these policies enable immigrants to work in the U.S. with all the legal requirements needed. To fill the gap in this complication, consultants can work with agencies to provide proper education and put together the necessary documents for immigrants to work abroad.

11. Elderly Care Services

According to the data presented by the U.S. Census Bureau, the number of elderly may surpass the number of children by 2030. This shift in demographics may provide a potential business opportunity for elderly care.

Even in 2018, the rise of the elderly in the U.S. alone may provide a good opportunity to build elderly care facilities. To compete with existing companies, you may need to provide a competitive edge and pricing for your business to be successful. It is a high-demand business, especially for those who rely on government subsidiaries or minimal pensions from companies whose businesses went bankrupt.

12. Virtual Reality

Initially, VRs are for gamers. However, this technology provides opportunities in the health sector, tourism, training, and education industries to name a few.

Using the senses to create a realistic experience, the use of VRs has been widespread in various industries. According to data presented by Statistica, by 2024 the VR market could balloon to up by billions in revenues. This promises a great business opportunity for those with a background in Information Technology.

13. Chatbox Developer

As you may have noticed, small and large businesses are using a chatbox to interact with customers browsing their websites. It is an efficient way to assist them with their clients as they navigate through a business’s products, and services, and provide feedback. And the numbers are growing every year.

You can create a niche you’re familiar with and target your market. For example, you can create a chatbox that specifically caters to financial advisors and helps potential clients find their way through their website. Strong programming skills are essential to starting this type of business.

14. MRI Scanning Services

Data coming from American Health and Drug Benefits show that there have been a lot of changes happening in the healthcare sector in 2021.

Traditionally, getting an MRI scan can take months because of long queues. With innovative technology, you can provide more efficient services through mobile MRI scans. Facebook, in partnership with NYU School of Medicine, is creating an MRI scan that can deliver results ten times faster.

You need to check if you have a market needing this service. Why not build a truck and trailer service in high-demand areas? This is an efficient way to keep mobile MRI scan services available everywhere without the operational expense of maintaining a brick-and-mortar establishment.

15. Virtual Doctor Services

The baby boomer generation caters to a large population in the United States. It is also a source of revenue under the healthcare consumer expenditures. The baby boomers may just outnumber the number of babies in the coming years!

Establishing a virtual doctor company would help this demographic visit a doctor without having to leave their homes. As a virtual company, you are bringing convenience right to their doorsteps. You will also address mobility problems that most seniors face when visiting their doctors.

To achieve this, you need to possess computer programming skills and create an application that is user-friendly and easy to navigate for seniors, especially those who prefer to stay independent from elderly homes.

16. Custom Content Creation (AI)

AI has yet another industry that marketers are likely to enjoy: custom content creation. A likely example is Netflix’s method of using consumer data and the use of algorithms to predict the movies a consumer will go for–even without looking for it initially. In another case, IZEA takes advantage of AI to help marketers create content by analyzing images, texts, and videos through algorithms to yield desired results.

Create a software tool that will help marketers get a leg up against their competition. It is a tool that easily creates content for them with a bit of human touch.

17. Social Media Management

While this may be a saturated market, it is never too late to get started. Various businesses will need digital marketing services and advertisements to promote their brand. For smaller businesses, this could mean profit for you.

At first, you will only need your expertise and technical skills to get started. But as your business grows, you will need to hire teams that are knowledgeable in other areas such as analytics, algorithms, marketing, and content creation to name a few.

18. Skilled Workers

Let’s now shift to the human side of things. We see that there remains a huge gap in various industry sectors, especially in the United States, that needs to be filled by skilled workers.

According to a report from ADP and Moody’s Analytics, employers are having difficulty filling in jobs for skilled workers such as truck drivers causing employers to take on the economic brunt of this loss. Other skilled jobs such as electricians, construction, plumbing, welding, steelworks, and masonry are positions that employers are looking to fill.

You could create an agency that hires skilled immigrants and match them with the vacancies. This will entail full knowledge of state and other laws.

19. Child Care Services

Data from the 2020 Census show that there were about 74 million children ages 18 years old and below, all accounting for 23% of the total population in the U.S.

While they do not limit this to child care alone, catering to this population may prove to be a lucrative business to start in 2024. You can find business opportunities in education, fitness, and childcare in this industry. If you’re an educator with a passion to care for or teach children, this is the business you need to take a second look at in the coming year.

20. Home Improvement

Do you have a knack for interior design? Do you like to renovate “dull” homes and turn them into sophisticated spaces? This could be a potential business opportunity for you.

Remodeling contractors are usually scarce–especially the exceptional ones. Home renovation businesses seem to stay afloat despite economic downturns. On average, homeowners in the United States spend about $7,560 every year on home improvements alone. To the carpentry business, this means a great opportunity. You will only need your tools and extensive talent to get this business started.

21. Bike Services and Sales

People today are becoming more health-conscious and making lifestyle shifts. The need for greener alternatives is also gaining traction, especially in developed countries. In America alone, many are turning to the more economical and healthier transportation option: bicycling.

Data from People for Bikes reveal that US commuting using bikes has increased exponentially within a 10-year period. In New York, more commuters are using bicycles instead of cars.

Economically, anything that’s healthy and promoted by the government is a good business to get into. Aside from manually powered bikes, E-bikes are also good options for bikers.

22. Counseling

The mental health industry is also worth looking into as there is evidence of increasing demand for therapists and counselors. According to BLS, the need for marriage and family therapists can increase to 15% by 2032.

This can also be a private practice to consider if you’re planning to start a counseling business in 2024. If you don’t have a counseling background, you may need to undergo extensive schooling to get certified or earn a post-graduate degree as the position may require.

23. Financial Advisor

Considering the financial wealth circulating in the U.S. alone, it’s hard to ignore that more people are getting rich in America–hence the need for skilled accountants and planners to help them manage their assets. Statistics from the BLS show that projected demand for financial planners could grow by up to 13% by 2032, adding 25,600 positions per year.

Rich clients will want someone with an extensive background in the financial market and securities management to take charge of their dealings. It may entail various certifications and licensing on your end to start your private practice.

24. Gourmet Coffee

If you’re thinking of competing against Starbucks in your neighborhood, there’s still a good chance you still have a lot of market going on for you. And yes, the consumption of coffee in the U.S. gets higher every year.

What you will need is a good location where it’s accessible to vehicles, foot traffic, and cyclists. Consider emulating the relaxing and homey Starbucks atmosphere. As it is with gourmet coffee shops, you will need high-quality coffee served in small batches from trained baristas.

25. Food Truck

The U.S. fast-food industry is worth approximately $198.9 billion. For the exceptional chef, one Michelin star could boost your food business by up to 20% in revenues, two Michelin stars could up it by 40%, and three Michelin stars could raise your business popularity by up to 100%.

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Mobile vendors are also turning to healthy food options to sell. Clover Truck (Boston, MA) has a fleet of trucks with seasonal menus that use organic food sources and vegetarian meals.  Running a food truck not only cuts down operation expense that comes with brick-and-mortar establishments; it’s also the more flexible option for areas with massive foot traffic such as in festivals and food events.

26. The Creative Arts

This could be a good time to be a fine arts, liberal arts, and humanities graduate. We are now living in a world where artists are the biggest influencers. Today, artists have a huge influence on innovation, graphic design, animation, and even businesses.

The creative processes involved in coming up with “out-of-the-box” solutions are taking a more critical role for businesses to get ahead of the competition. Your knowledge in this field could be an asset also in other realms such as trading and technology.

27. Accountant

If you’re an accountant, there are limitless opportunities for you in the financial market if you are searching for the best business to start.

The rising businesses in the U.S. translate to an increasing need for accountants to organize clients’ books and assess their assets. This could be your ticket to a stable career and could even mean constant profit should you start your private practice.

28. Vacation Rental System

Who doesn’t know Airbnb? The hospitality industry has been growing with cheaper alternatives available to tourists.

If you have a spare vacation rental property, you can turn this into a cash cow. Despite the stringent U.S. immigration changes, there’s still a market for local tourists coming to the U.S. There will be homeowners who are too busy to manage their properties so they hire vacation rental systems to manage their homes for their guests.

The better your performance, the more households will want to be listed as part of your portfolio. You can expect an annual 20 to 40 percent gross profit by managing these properties.

29. Website Flipping

Website flipping is like property flipping–except that you’ll be dealing with selling created websites. You can earn by matching buyers and sellers. This requires art and a bit of research.

If you’re a skilled programmer, you can get quick profit from trading these websites in platforms like FreeMarket or Flippa for selling or buying domains and websites.

30. Box Services

Whether it’s for birthdays, Christmas, or a little something for your better half, the gift wrapping and boxing services are something that can bring in cash. And with just a dab of creativity at that.

You can also create monthly boxing services for businesses by building premium and non-premium services. Fill in unique items specific to the industry you are serving or the business you are partnering with. The possibilities include wine boxing, cosmetics, gourmet food, and toys.

You can get unique offers and partnerships with other start-ups if your creations are competitively priced and of high quality with unique details.

Important Things to Consider When Starting a New Business

  • Business Plan: Creating a comprehensive business plan that outlines your vision and goals for your business will keep you focused and accountable.
  • Financing: Finding the right source of funding for your business is essential and can come from a variety of sources, including grants, traditional bank loans, venture capital, sweat equity, and personal savings.
  • Location: Choosing the right location for your business is critical for its success. Consider factors such as the local market, competition, and accessibility to potential customers.
  • Resources: Assess the resources you have available to run and build your business. What skills are needed, and do you have them?
  • Understanding the Law: Make sure that you understand the relevant local laws and regulations that pertain to your industry.
  • Marketing: Establish a marketing plan and spend time setting up a website, establishing relationships with the media, and attending trade shows.
  • Networking: Form good relationships with other entrepreneurs, suppliers, and potential customers. Networking can be a powerful tool for your business.

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Rowan Jones
Chief Editor