Most profitable business ideas of 2016

Too many youngsters looking for making a break in small scale industries and to start their own business. If you have got what it takes to be a an entrepreneur and you are looking for small business ideas. Here are some for your reference that will give you ideas about what type of business you can try your hands on and what business brings easy profit.

It is difficult to reach a profit target when you first start a business as you might be in a business that needs a heavy investment and might be slow in giving out profit. It is an individual choice as to what business one might like to fulfill their dreams in, but who wouldn”™t want a profitable business, a business that are easy to establish and make money.

It”™s a new era and new set of business have made it”™s way to this competitive world by being the most profitable business ideas of the year, some of them are:

1. CATERING BUSINESS

Be it weddings, birthdays, office parties, social gatherings, business get together, etc. You can reach out to anyone and any occasion to make your business deal. No one has time to prepare such big and extravagant meals therefore you can step up and take this as an opportunity. There are no limits for functions and parties anywhere thus you can get clients easily.

All that you”™ll need is some capital, few people to cook, right and customizable menu and punctuality. It is a simple business that can help you make profit easily.

2. BREAKFAST SHOP

Yet another easy business. The breakfast shops are making a high profit as many people visit breakfast shops very often and it does not require very heavy investment. Breakfast shops are affordable and also helps people grab snacks if they are in a hurry for example the working age group hardly get time to prepare their breakfast they are forced to run to their office hence your shop can be very helpful for them. Get the right location, may be a roadside which is used by the office goers so they can grab a snack on their way to work. And if you are lucky you might even be recognized in the neighbourhood and everyone will be drawn to your business

3. GAMING CENTER OR AN ENTERTAINMENT PARLOUR

This is much needed in an area where youngsters visit for example a mall or a plaza or a street that youngsters use to pass their time. This way it will be utilized to the maximum. Your gaming center can also include a small food court or a snack bar with a juice stall etc, if it is situated separately from a mall. This way you will have more people drawing in your parlour. Put small hang out spots in case it is an individual center to make it comfortable for people who just want to have a snack and hang out as well.

4. SMALL EDUCATION CENTER OR A SKILL CLUB

Small education center and skill clubs are also a great way of gaining profit. There are many spoken English, French, German, Japanese, etc class centers that make a good sum of money. You can also start skill clubs like dance, creative writing, origami, embroidery lessons, home decor making classes, etc.

These are simple to start and needs very less investment but gives a good income. As there are people who are constantly looking for these sort of classes mostly  youngsters and housewives but can also be any age group people.

5. RECRUITMENT FIRM

Needs less investment for starting this type of business. Many freshers who are new in looking for jobs need this help the most, but not only freshers, many are looking for a job hence it can be a profitable business. People are willing to pay high amount for recruitment as far as their first salary as well, hence it is a a very smart idea to invest in a recruitment firm.

6. SMALL ONLINE BUSINESS ON SOCIAL MEDIA

People have shifted their focus to online shopping. This brings any small business in focus. When we check out our social media we see accounts and pages that sell bakery products, clothing, jewelry, etc. These is a very simple way to start any type of business you like. You can have your website but sell products on social media which is easier than selling on your website.

There are various small business in social media that have made it big in the online business for example; Stylestich, Bohemian Luxe, Morsh collection, justfashionspirit, etc they allow direct ordering from their Instagram account using Whatsapp or a message. When you have enough followers you will get noticed and other accounts will pay you to advertise their products and accounts as well which will also help you earn extra.

Sumathi

I’m a tax expert with over 10 years of professional experience. I’ve gained practical insights on GST and other Taxes during my tenture as a Tax expert and GST Trainer in Reach Accountant.