1. Money
You can opt-out at any time. Please refer to our privacy policy for contact information.

Businesses with the Most Profit Potential to Start in 2011

Best Business Opportunities and Ideas for 2011

By

We are, hopefully, at the end of a recession and starting a slow recovery. The 2010 holiday season was hopeful. So what are the best business ideas for 2011, the beginning of this recovery, that could make a profit? People are starting to buy again, but cautiously, frugally, and slowly. There is a whole new clientele out there with baby boomers retiring, but theirs is a different kind of retirement where many still work. Then, we have technology, which is king.

Here are some businesses that show promise in 2011 that may make a profit.

1. Consignment Shops

Consignment shops are hot and they are starting to pop up all over the place, even on online. People want to sell their clothes, antiques, art, furniture, and other goods as they feel the need to downsize, raise some cash, and live in this new economy.

When you consign your goods to a consignment shop, you retain the title and the consignment shops tries to sell the goods for you under a retail price while retaining a cut of the sale if you sell your goods. It's better than giving them away unless your need the charitable deductible on your taxes.

Starting a consignment shop in a down or recovering economy can be a lucrative venture because people need cash and are looking to downsize. Check it out! Also, take a look at this upscale consignment shop in Cleveland, Ohio as a possible business model.

2. Thrift Shop

Thrift shops are not consignment stores. A thrift shop is a little like Goodwill, but you can start an independent thrift shop on your own. People donate clothes, furniture, children and baby items, and other types of household items to your thrift shop and give you the title to the items. You may a small price for these items and take the title to them. Once you have them, they are yours.

Thrift shops are hot right now for many of the same reasons consignment shops are hot. People are downsizing and getting rid of things they don't need in exchange for cash. The nice thing is that people are getting rid of nice clothes, furniture and other items. People who never thought they would shop in a thrift shop are frequenting them because of the high price of clothing in traditional retail shops.

So how do you get started? Check out this article! Thrift stores are becoming increasingly fashionable and hot!

3. Staffing Agency for Eldercare Services

More and more people are caught in the sandwich generation. They are taking care of children and taking care of elderly parents while trying to hold down jobs themselves. Some are at the end of their ropes. A hot business for 2011 is to open a staffing service for eldercare services. Competent licensed and bonded eldercare givers are extremely hard for individuals to find on their own.

If you are interested in this business, you can find some resources to get you started in Geriatric Care Management here.

4. Staffing Service for Senior Consulting Service

As baby boomers retire, they are inventing a new kind of retirement. They are still working, at least part-time. Baby boomers leaving the work force is leaving a huge gap in the work force that employers are having to scramble to fill. There are even national organizations, like WorkForce50 that helps seniors find jobs after they retire.

A hot job for seniors after retirement is consulting. Taking the knowledge they have gained over their professionals careers and helping companies and individuals in small businesses with that knowledge.

A hot career for you may be to put together a staffing service for seniors who want to serve as consultants in your community and beyond. There are national staffing services, but few local staffing services. It's a niche that you could fill.

5. Handyman

As homeowners try to do home improvement projects on their own because hiring a professional is too expensive, they are trying to find handymen like never before. Handymen are hard to find. If you are a jack-of-all trades, you can start a lucrative business as a handyman in your local area.

You can establish your own small business, run as a sole proprietorship or you can hook up with one of the many handyman franchises across the country. Here is a review of one of the franchises but it may not be typical of all of them. A simple web search will help you find other handyman franchises.

In 2011, as people try to live more frugally, handyman services will be sought out and this type of business, if you have the skills for it, could be profitable for you.

6. Children's Educational Services

As our school systems continue to experience budget cuts, difficulties attracting qualified teachers, and other difficulties, the market is ripe for businesses that offer childrens' supplemental educational services in local communities. These services are basically tutoring services. You can specialize in offering enrichment services to elementary, middle school, or high school students or you can specialize in particular subjects like math, science, or english. You will have to hire a staff of qualified tutors.

The market is also ripe for tutors for college-age students, particularly for college entrance exams like the ACT and SAT.

If you set up a local tutoring agency, be aware that you have competition from national tutoring agencies, online agencies, and other local sources so the marketing and pricing of your services is of vital importance.

7. Home Weatherization Business

This is a green business idea that could prove extremely profitable but could also require some training on your part. Home weatherization experts find out what it takes, in the form of insulation, weather stripping, and other techniques, to keep a home comfortable and energy efficient year round. The homeowner's goal is to cut energy bills while remaining comfortable. Your goal, as the business owner, is to assist the homeowner in accomplishing this goal while making a profit.

The home weatherization business is just taking off and you could get in on the ground floor. The startup costs are low and the potential to make a profit is high. You may, however, have to deal with some health hazards, like asbestos, mold, and mildew. You may possibly be eligible for some government assistance if you start this business.

8. Meals on Wheels

This sounds like an old idea but it's not. Meals on Wheels is a long-established government program to help low income, disabled individuals. However, there are many older, senior citizens who may be disabled or just house bound who need the Meals on Wheels service but cannot qualify for it because their monthly income is too high. If you start up a Meals on Wheels business, this will be your clientele. Your clientele could also include individuals who are house bound due to recent surgeries, mental disabilities, and other problems.

9. Certified Financial Planner

The first baby boomers turn 65 years old this year. Many baby boomers are retiring early. There is a need for financial planners and savvy baby boomers will only hire a certified financial planner. You have to have some additional study even if you are a financial professional. It's worth it because it can lead to your own very profitable small business.

There are other financial certifications you can get along with the Certified Financial Planner (CFP), all of them leading to your own small business. If you want to go the CFP route, the Financial Planning Association website can steer you in the right direction.

10. Fitness Services for Seniors

Depending on what geographic area you are in, starting a business that offers fitness services for seniors could be a very profitable business venture. Baby boomers know the importance of keeping fit and many try to work time for fitness into their lives. They are interested in new and interesting ways to keep fit. Some are interested in personal trainers; others are interested in group activities. Pete McCall, an exercise physiologist with the American Council on Exercise, says that small group personal training will thrive in 2011.

Partnering with the American Council on Exercise and becoming a certified instructor may be your first step toward starting a fitness service business.

Here is the list of Business Opportunities with the Most Profit Potential to Start in 2012.

©2014 About.com. All rights reserved.