Most Profitable Businesses To Start in 2023: Nine Ideas
Commercial Cleaning The pandemic greatly shifted how people view hygiene and cleanliness, especially in high-traffic areas such as restaurants and offices. Launching a cleaning service taps into this demand — the industry is projected to grow at a compound annual growth rate (CAGR) of 6.1% from 2020 to 2027. Commercial cleaners stand to make the most profit. Workplaces must meet hygienic standards, but small businesses often can’t afford a full-time janitor. A cleaning business addresses these concerns, especially if your area lacks competition. Small businesses in this space make between $70k and $100k per year, with profit margins falling between 10% and 28%. Supplies make up the bulk of a cleaners’ expenses, including power washes, vacuums, mops, and other tools, depending on your specialty. For example, your business can specialize in green cleaning — which requires more eco-friendly, organic products to get started. Financial C...