Financial services are always in high demand, even when the economy is not doing so well. According to the World Wealth Report, 35.7% of those surveyed said that financial services were one of the sectors most likely to generate millions. With the baby boomer population in the US numbering around 75 million and Generation X expected to outnumber them by 2028, there is a lot of money to be made in providing services for seniors. This could include anything from running errands and doing household chores to providing transportation and companionship.
If you have experience starting and running a successful business, you could start your own consultancy and provide aspiring business owners with your knowledge and experience. Investment and trading opportunities are also plentiful, with commodities such as oil, gold and bitcoins, as well as stocks and bonds, all offering potential for profit. Foreign exchange trading is also a lucrative option, although it is risky. Food trucks are another profitable business idea, although they require special licenses and safety compliance regulations.
Auto repair services are also a great option for those with mechanical experience, offering oil changes, liquid refills, battery changes and headlight repair. Design has become increasingly important for small businesses looking to stand out from the competition. 73% of companies that invest in design do so to differentiate themselves from their competitors. Personal training is another great option for those who want to help others get in shape.
The online coffee industry is booming too, with small businesses offering higher quality coffee than larger companies. Freelance writing is another way to make money from home, with many people turning their passion or hobby into a profitable business. Property and accident insurance services are also a great option for those looking to make money. Finally, those who have a talent for gardening could consider planting trees as a side business. Food and drink will always be in high demand, although running a restaurant can be expensive.
Serving food from a food truck requires much lower overhead costs and can be one of the most profitable small businesses you can get into. Those who want to join the ranks of the Great Resignation can also turn their previous work experience into a profitable company by becoming consultants in finance, human resources, careers or management. Experienced sellers can also invest in furniture and accessories for use in homes, while business credit cards are a short-term funding option.