Best skilled trades businesses to start right now
A skilled trade career offers a great opportunity to own your own business and to grow within an established company. No matter how the marketplace or the economy may shift, we will always need plumbers, welders, electricians, and builders to build our homes, keep the lights and water on, and pave our roads.
According to the Bureau of Labor Statistics, overall economic growth and population will increase demand for new buildings, roads, and healthcare. This demand provides a stable foundation for new business owners because there won't be a shortage of construction projects or need for skilled workers.
Creating your own business is a great way to become your own boss and achieve financial independence. And, with the right business idea, you can start generating income from day one. But what are the best small businesses to start with your trades skills in 2023?
1. Home improvement services could include anything from interior design, carpentry, contracting, plumbing or landscaping. Most of these areas require training and access to equipment or materials, so the startup costs are not the cheapest.
2. Cleaning services offer essential opportunities to both residential and commercial properties, helping to manage tasks many people do not enjoy or do not have time to complete. With average rates of $18 to $35 per hour, cleaners bring in substantial revenue for simple, yet necessary services. Due to the nature of a cleaning service—no physical office is required, equipment costs are low and can be billed back to the client and hours of operation are flexible—enterprising entrepreneurs can see significant success in building a company in this industry.
3. Delivery services have grown tremendously recently ; online food delivery services alone are expected to grow by more than $104 billion by 2023. To ride this wave, you could offer your own local courier service to deliver groceries, medications or run other essential errands. In addition to charging a standard rate, you could charge additional fees for lengthier deliveries, rush orders or delivering heavy or bulky items.
4. Baby supplies and childcare are essential no matter the economic outlook - babies need clothes and supplies, and children need child care. You don’t need any formal training to open a retail store or sell online, but you do need the right tools. For child care, no physical office is required, equipment costs are low and hours of operation are flexible
5. Accounting services provide individuals and businesses with assistance filing tax returns, bookkeeping and financial planning. This consistent, reliable demand for services is definitely a pro if you’re looking to start a business. There are very minimal overhead start-up costs for accounting, and the job is easily doable from home. Accounting professionals with more advanced qualifications can charge higher rates and generate more revenue as a result.
6. Bike stores (with repairs) have seen impressive growth globally since the pandemic. Specifically, consider a bike store that offers repairs, as repairs future-proof your business for good and bad times. People are less likely to want to buy new when the economy is slow, and more likely to hold onto their existing equipment. That means if you offer repairs, they can come to you.
7. Auto parts and repairs are particularly well-positioned for economic downturns as people hold onto cars longer. That means good or bad, you might have luck with an auto parts shop. .
8. Electronics repair shops help people hold onto their devices. With right to repair laws advancing, more customers will be able to get their phones fixed instead of trading them in for new ones—even Apple is making it easier. While there are no formal certifications needed to open an electronics repair store, you might want to take a course in electronics repair before opening this business.
9. Dental industry offers room for success for those with the right qualifications. Dentists must earn both a bachelor’s degree and a doctorate in dentistry, and most dental hygienist roles require a minimum of two years of school.
10. Warehouse and Storage: the U.S. is expected to need another 1 billion square feet of warehouse storage by 2025. In many cases, renting warehouse space can be fairly hands-off; clients pay rent and are then free to store their items. This means that the time commitment in a warehouse business is minimal.
11. Solar Panel Repair Technician: Solar energy has become one of the most reliable sources of power supply, especially in the operation of lifts in commercial buildings.
12. Drone Repair Technician: Since the advent of drone technology, a whole lot of business opportunities have been created around the industry and drone repair service is one of them. The fact that people and businesses are beginning to make use of drones for various purposes on a daily basis means that the drones would need to be serviced and repaired when damaged for peak performance.
13. Graphic Designer: there is no limit to the amount you can make as a professional especially if you know how to generate great business ideas.
Skilled trades jobs are expected to remain steady or grow over the next decade. From careers in hospitals to manufacturing building supplies, growth in available jobs means that there will be opportunities for those looking to start a new, rewarding career in 2023. There’s never been a better time to start learning these essential skills.
In the next decade, we our communities will need many more skilled trades businesses to open and thrive.
