6 Profitable Small Business Services That Were In Demand In 2022 And Would Likely Be In Demand In 2023

2023 is just around the corner and there are a lot of prospective entrepreneurs (male and female) waiting to emerge and start up their own organizations and businesses. The question of the choice of business to start up is their major concern. Due to the lessons learnt from 2021-2022 of how businesses were shut down and many closed up because of the drastic negative effects of the covid-19 pandemic, insurgency, inflation, war, and natural disasters, prospective entrepreneurs are extra careful of their business choice, and wish to start up a business that won’t fail them and at the same time get them lots of profits. A correct analysis of the businesses that were most profitable in 2022 amidst the global destruction would help them decide which line of business to engage in and make lots of profits. The content of this article is to list the businesses that were most profitable from 2021 – 2022. We are going to discuss few of them.

  • NFT Artist

Investors are noticing how non-fungible tokens, or NFTs, are redefining the way we view art.

NFTs have become a significant part of the economy and can be profitable as a home-based business. In an article published by Stephen Graves, Andrew Hayward and Daniel Phillips on February 21, 2022 entitled “The Most Expensive NFTs Ever Sold”, we learn of two famous artist whose art work was sold for so much. “The artwork, created by famed digital artist Mike “Beeple” Winkelmann, sold for $69.3 million at Christie’s—the first time that the venerable auction house has ever sold a purely digital artwork.” And he’s not the only one; “Pak also made a big splash in December 2021 with the launch of Merge, an NFT project that generated $91.8 million during its sale period—although it’s not a single NFT. Nearly 29,000 buyers each got a dynamic NFT based on the number of “mass units” they purchased, and those can be combined by acquiring other NFTs from the project.”

The requirement is that you must produce artworks like paintings, music, 3D avatars etc.  On blockchain platforms like OpenSea, though, you can list them for free. All you need to do is register with OpenSea and follow the procedure below.

  • Select the digital format of your NFT (digital painting, piece of music, 3D avatar, etc.).
  • Select the online market that you want to use (Opensea, Rarible, SolSea, etc.).
  • You will need a digital wallet because NFTs are exchanged using cryptocurrencies. When you list your NFT for sale, there are additional costs.
  • Connect your marketplace to your digital wallet.
  • Put your NFT file online.
  • Cleaning Services
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According to GetJobber Academy, A cleaning business owner salary can range from $16,500 to over $100,000 a year—although somewhere in the middle is more common.

The scale of your cleaning business will have a significant impact on your ability to create wealth. Other elements include your capacity to stay up with the industry’s trends, and the location of your business, among many more. Large commercial cleaning businesses are typically more profitable than those that operate on a smaller scale.

“Starting a cleaning business is inexpensive and you can easily have clients within hours of launching. It’s also fantastic for cash flow because you get paid at each cleaning or even in advance of the appointments.”

—Katie Pearse, Glisten Academy

This was one of the most profitable businesses from 2021 – 2022. It is very easy to start and the capital needed to start the business varies according to the plan you have for the business and how you would want it to be. You can start small or big. If you want to start small, you would only need the basic cleaning materials like brooms, brushes, mop, buckets, etc. You necessarily don’t need complex machines. However, if you are starting small with these materials, you won’t you able to clean a large place. For example, if your equipment is just basics, you won’t be able to handle a company contract to clean the entire premises, and that is why most people like to go big, so they can get complex machines like vacuum cleaners and others so they can get big contracts and make better profits. The good news about this business is that you can start small and enlarge it afterwards, so in any way, you would be able to make your profits.

  • Delivery Services
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Photo by Norma Mortenson on Pexels.com

According to the State of Logistics Report 2019, the market size of same-day delivery services in the US is expected to reach $7.4 billion in 2020 (up from an estimated $6.1 billion last year).

The business proved highly profitable in 2021. People often need to transport goods to other locations, sometimes within the vicinity of other areas or states, hence the need to hire a delivery service to help transport their goods. Consider people who buy goods from one state or country to sell in another, they would need delivery services to get their goods to the desired location. This business is very easy and cheap to operate. The major equipment needed for this type of business is a good working conditioned vehicle. Then you need to constantly fuel your vehicle in order to convey your deliveries from place to place. You can also decide to go big by purchasing numerous vehicles and officially starting your own delivery company. Either way, you will make money, but the bigger your investments in your business, the bigger the profits you expect to get.

  • Legal Services
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According to Statista, “many of the largest law firms globally are headquartered in the United States – including Latham & Watkins, Kirkland & Ellis, and Baker McKenzie. The top 100 law firms in the United States generated revenues of more than 110 billion U.S. dollars in 2020. In 2021, Kirkland & Ellis was the leading law firm worldwide in terms of gross revenue. The firm was first founded in Chicago by Stuart G. Shepard and Robert R. McCormick in 1909. According to its latest reports, Kirkland & Ellis employs more than 2,700 lawyers across the world.”

Every country has their set of rules, regulations, and laws governing the people and their activities. Most times, in order not to breach the law and be safeguarded from trouble, people often keep a lawyer close by. You need lawyers to help in so many aspects. For example, if you are forming a company, you would need a lawyer to prepare and handle all the legal documents needed to start your company. Also, if you are getting into business with any company either by investing or entering a partnership, you would need a lawyer to draft out the agreements and ensure you get all that you are entitled to receive. Furthermore, you need a lawyer to defend you when you get into trouble and help you overcome the problems associated with it. Therefore, the need for a lawyer is very essential. You can start your own legal service but you need to be trained for it, and you can do that by studying law as a course in the university and by going to a law school. So, it would take you a good amount of time, finances, and preparations to be trained as a lawyer and to start up your own legal firm.

  • Digital Marketing Services
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According to Entrepreneur, the global market for digital marketing and advertising alone is estimated to be $322.5 billion and is projected to grow to $640.2 billion by the end of 2027.

All companies whether big or small needs a marketing department and experienced marketing team that have learnt the art of marketing and are able to successfully carry it out and result to better awareness of the company and the products and services they render. The aim of all companies is to get the word of their business abroad and increase sales by this massive awareness. After the covid-19 pandemic experienced in 2021, companies that were shut down had to look for ways to get the news of their return to their customers, so they can make up for their lost time and make sales.

Therefore, companies are constantly in the search of effective marketers and would do all they can to improve their current marketing team. You can therefore get the necessary training to become an effective marketer and develop good marketing skills like social media marketing, copy writing, SEO and SEM marketing, content creation, augmented reality, analytics, artificial intelligence, graphic design etc. You can also study digital marketing as a course in the university, attend seminars on developing and improving digital marketing skills and strategies, and you can also learn more about it online.

  • Auto Repair Services
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Photo by Pixabay on Pexels.com

“In general, a larger auto body shop can earn $100,000 per year, and mechanics themselves can make between $30,000 and $50,000 per year. BizStats offers a breakdown of costs vs revenues. This, of course, will vary depending on your location and area of expertise.” – GenSteel.

Auto repair services is a business service that is highly patronized because there are a lot of vehicle users on the go, and the nature of automobiles calls for constant servicing and repairs. Therefore, automobile users frequently patronize auto repair companies and stores to fix their automobiles. You can start this business if you have a knowledge of how to repair automobiles and it is a skill you can learn affordably in the university through BYU-Pathway Worldwide or by working as an apprentice to an Automobile repairer. You would need to rent a store or make a shade in order to get space to do your work, and you also need to get important tools and equipments which you would need to do your work.

These six (6) services are really hot cakes in the business industry. It is anticipated that they would constantly be in demand even in the coming year, 2023. Therefore, if you are a prospective entrepreneur, you can consider starting your business in any of the above mentioned fields. Thanks for reading!

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