|All content presented here and elsewhere is solely intended for informational purposes only. The reader is required to seek professional counsel before beginning any legal or financial endeavor.|
There are many different types of businesses which an owner can purchase and operate. The best type of business will come down to the owner and what they’re interested in operating and what their goals are. In this article we will explore some of the broad business types and understand what might make them attractive to purchasers of a business.
- There are many types of businesses which can generate income for owners
- Choosing the right business for you will be up to what your interests are and what skills you have
- As technology evolves there are more options for owners to start digital businesses
45+ of the Best Businesses to Buy
While there is no best when it comes to which business you may want to purchase. What we can provide is a list of a few business types which may spark interest and merit further research.
This business offers laundry services to customers and can be a great opportunity for owners looking to not be on site while their business earns
2. Vending Machines
Another business which owners do not need to be present, vending machines can offer customers a variety of products at different price points owners can offer and periodically restock
3. Car Washes
While seasonal car washes are great for owners as they offer different levels of services, from self service car washes to full service offering detailing and basic maintenance
4. Mobile Home Park
Owners provide maintenance of grounds and hook ups to utilities in return for rented space to customers.
5. RV Campground
Could be seen as minimal involvement these mobile home parks allow customers to book space online and show up in person for their scheduled slot with owners providing utilities and maintenance to the facility
6. Ice Vending
A hands off business, owning an ice vending machine provides customers with self service ice, just be aware of weather and ensuring theres proper demand and minimal freezing risk
7. Vacation Rentals
AirBnB or VRBOs, offering a space for tenants to occupy can lead to a great stream of income, but come with the responsibility of maintaining a property
8. Gym Franchise
Being a franchisee of a gym can offer a workout space for customers and the structure and recognition of an established franchise for the owner to operate within
A great and diverse business which can scale with an owner at their own discretion, allowing for hiring and moving to new territories or creating a loyal base of customers at a size an owner is comfortable working within
10. House Cleaning
Perfect for a consistent and loyal base of customers which you can measure and manage, allowing owners to grow at their own pace or even hiring for
11. Window Washing
Selling to either businesses or residential areas windows will get messy and there is an opportunity for owners to sell this service. A business that can be started with one person and grow over time
12. Carpet Cleaning
Another business that can be started on your own, carpet cleaning requires some initial investment in good equipment but can be scaled over time by expanding territory
13. Ecommerce Website
Selling a single product or a brand of different products, and ecommerce store allows owners to reach a wide audience from their computer and leverage existing technology like Shopify to manage
14. Printing Services
Printing offers a wide variety of offerings which owners can carve out as a niche; for example printing puzzles, or shifts, or high quality prints, and expanding from there
15. Food Truck
If you have a passion for cooking and looking for an opportunity to start a restaurant on a small scale a food truck could be a great option for you as an owner
16. Virtual Assistant Agency
Logging on from anywhere and completing tasks for a business is the role of a virtual assistant. Finding and pairing with a business can yield a great stream of income for those looking to put in the work
17. IT Support Business
Specializing in information technology services, an IT support business can be incredibly lucrative for those with the right skill set. Providing many businesses with comprehensive software and hardware support can generate a steady income stream.
18. Language Tutoring Company
With a tutoring company, you can offer in-person and online tutoring services in various languages. This could be a great way to make some extra money for those interested in teaching and helping others
19. Social Media Agency
Social media is becoming increasingly important for businesses, and many are turning to social media agencies to help them manage their profiles. Setting up a social media management business can help you generate a healthy income.
20. Electronics Repair Shop
Everything breaks eventually - and often when least convenient. You can offer services such as computer and phone repairs and can even specialize in TVs, gaming consoles, or appliances
21. Dropshipping Website
The process of dropshipping involves creating an ecommerce website and selling products sourced from suppliers. You don’t need to keep any inventory or even ship anything, meaning you can work from anywhere with a Wi-Fi connection
22. Catering Business
Everybody needs to eat - and many don’t have the time or skills to cook. You can provide catering services for special occasions or even everyday meals, such as office lunches
23. Web Design Agency
Similar to social media management, web design for businesses is an on-demand service. You can create websites from scratch or update existing ones with a few minor tweaks for busy company owners or entrepreneurs
24. Business Consulting Firm
Do you have experience in taking businesses from idea to implementation and success? You can use your expertise to help other entrepreneurs get their startups off the ground. Offer consultation services for pricing, marketing, operations, or even accounting advice.
25. Warehouse Storage
One of the fastest-growing industries, warehouse storage services offer businesses and individuals the ability to store their excess inventory in a secure location. This business is ideal for those with experience in logistics or warehousing and strong customer service skills
26. Self-Storage Units
Like warehouse storage, but on a smaller scale, self-storage units are becoming increasingly popular as the need for extra space increases. You can make passive income by renting out and maintaining units
27. Property Management
Multi-family and commercial buildings require a lot of time for upkeep. Property management businesses provide services such as rent collection, tenant screening, maintenance, etc. This is a great business for those with a real estate background or experience in the industry.
28. Marketing Agency
If you have a background in marketing, starting an agency can be a great way to make money. You can offer services such as social media management, SEO optimization, website development, content creation, and more.
29. Tax Preparation Service
Every single person with money has to pay taxes - so tax preparation services will always be in demand. You can provide both in-person and online services, and trusted clients will stick with you forever.
30. Real Estate Firm
Buying and selling real estate is another great way to make money. You can start a real estate firm or even partner with existing firms and brokerages. Many firms also provide property management services to expand their reach.
31. Funeral Home
Like taxes, every single person will eventually require a funeral service. Starting a funeral home is not for the faint of heart, but it can be incredibly rewarding and profitable - especially if you have a heart for the grieving
32. Gas Station
Gas stations offer a basic service that almost everyone needs. Starting your own gas station business can be incredibly lucrative if you are located in the right area and provide the best possible service.
33. Mobile Locksmith
Locking yourself out of your house or car is a huge inconvenience. Mobile locksmiths provide an important emergency service that can be incredibly profitable if you network the right way and build a solid customer base.
34. Rubbish Removal
Many will pay top dollar for someone to come and take away their large items of rubbish, such as furniture or appliances. Setting up a rubbish removal business can allow you to bring in a profit without a ton of overhead.
35. Pest Control
If you don’t mind dealing with “creepy crawlies,” then pest control is a great business to start. All you need is some protective equipment and the right training and licensing. Plus, it’s a service that people will always need!
36. Delivery Services
Gig jobs such as food delivery have become incredibly popular recently. You can also offer same-day delivery services for other products to make your business stand out in your local area
37. Plumbing Company
If you enjoy working with your hands and have some experience with plumbing, you can start a business offering repair and installation services. You can even offer toilet cleaning or pipe snaking to provide additional services
38. Roofing Company
While every home has a roof that’ll need to be maintained and repaired, locations with extreme weather are great places to start a roofing business. You can offer services such as emergency repairs, re-roofing, and installation of solar panels
39. Automobile Repair
Car repairs can be expensive, so starting an automobile repair business is a great way to offer people a cheaper alternative. You’ll need the right tools and experience to do this, but you can also provide things like oil changes, brakes repairs, and tire rotations
40. Equipment Rental
Rental or lease-to-buy options are available for customers looking to save money on expensive pieces of equipment. This is especially helpful in rural areas with limited access to stores.
41. Home Healthcare Agency
As the population ages, there is an increased need for qualified home healthcare professionals. Starting a home healthcare agency can allow you to provide needed services and gain a steady income.
42. HVAC Company
Installing and maintaining HVAC systems is a great way to become an entrepreneur. With the right training and certification, you can start your own HVAC company and help people keep their homes comfortable all year round.
43. Home Renovation Company
Homeowners looking to improve their homes can benefit from hiring an experienced home renovation company. From painting and carpentry to plumbing and electrical work, you can provide skilled services for those in need.
44. SAAS Business
SaaS (Software as a Service) is a great way to provide services to businesses and individuals. With the right software platform, you can create custom applications that help automate processes or offer tools that solve specific problems.
45. Liquor Store
Selling liquor can be a great business for aspiring entrepreneurs. You can provide customers with quality spirits, beer, mixers, and other party supplies
46. Event Space Rental
For those planning events or celebrations, renting space is a great way to make money. You can sell space for weddings, parties, corporate events, and other special occasions.
Good vs Bad Businesses to Buy
What Makes a Business a Good Investment?
A business can be a good investment if owners are willing to put in the work, make changes when necessary to correct inefficiencies, and reach out to their customer base to further understand their needs. Regardless of what business you’re operating in, understanding your customers is key.
What Makes a Business a Bad Investment?
A business is an active entity that requires attention and maintenance; if owners are not willing to put in the work they may see their business fail. It also requires being ahead of competitors, requiring research, realistic expectations, and forward thinking.
A business requires effort and commitment but can yield great rewards for owners. Knowing what you’re passionate about and skilled in can make all the difference in your success as an owner. Remember to be patient, study and research what you’re interested in and be willing to accept some of the risks that will accompany owning a business and you may find the reward being more than worth the effort.
Understanding your financial needs and exploring options like business acquisition loans can empower you to make sound financial decisions. Remember to be patient, research what you’re interested in, and be willing to accept some of the risks, such as loan repayments. With careful planning and execution, you may find the reward being more than worth the effort.