Starting and running your service-based business is one of the most reliable paths to financial freedom and fulfillment. But with so many options, how do you identify the best service-based business ideas that will put you on the fast track to success in 2023?
This comprehensive guide will explore the 10 most promising and profitable service businesses poised to thrive in the coming year. Whether you want to help other companies succeed with skills like social media marketing and web development or directly assist individuals through services like personal training and resume writing, we’ve got you covered.
These service-based business ideas have been strategically selected based on market demand, low barriers to entry, scalability, and income potential. Each offers skilled professionals like yourself the opportunity to create a rewarding and lucrative business on your terms.
Follow along as we count the 10 best service-based business ideas to launch in 2023. You’re just moments away from discovering the ideal business idea suited to your unique talents and passions!
Let’s get started.
What Makes Service-Based Businesses So Appealing?
Service-based Businesses are popular because they provide valuable services to other companies and individuals. Unlike product-based firms, which must create, store, and deliver physical goods, service businesses offer their expertise and skills. This makes starting a service-based business faster, easier, and less capital-intensive than other companies.
Service businesses are also highly scalable. You can start small by offering your services locally, then expand regionally, nationally, or globally. The right service business idea makes growing a highly profitable company with minimal employees possible.
Top 10 Service Business Ideas for 2023
1. Virtual Assistant Service
The rise of remote work and distributed teams has led to incredible demand for virtual assistant services. As a VA, you can leverage your administrative and organizational skills to help entrepreneurs and small business owners manage workloads. Typical tasks include email management, data entry, scheduling, word processing, social media support, and more.
The benefit of this online service-based business is extremely low overhead – you can get started with just a reliable computer, internet access, and expertise in tools like MS Office. You can enjoy flexibility while highly utilized by setting your hours and rates, which average $15-$50 per hour.
Promoting your services on sites like Upwork and Fiverr is a great way to find clients. Providing white-glove service and building long-term relationships leads to referrals and repeat business.
- Time Savings: Virtual Assistant Services free up your time by handling administrative tasks, allowing you to focus on core business activities.
- Cost-Efficiency: You can reduce overhead costs as virtual assistants work remotely, eliminating the need for office space and equipment.
- Scalability: Virtual assistants offer flexibility; you can quickly scale services up or down based on your business needs, providing agility in a changing environment.
2. Social Media Marketing
In today’s digital era, business can only thrive with a strong presence on social media platforms. An expert social media marketing service helps companies grow their followers, engagement, brand awareness, and sales on networks like Facebook, Instagram, Twitter, LinkedIn and TikTok. After optimizing and managing a client’s profiles and content posting strategy, you can run paid ad campaigns to boost visibility and conversions.
Analyzing performance data and then making adjustments allows you to optimize results. The benefit of this service-based business is the ability to scale and handle accounts for multiple clients across different industries. Using social media management tools like Hootsuite makes posting, engaging, and analyzing in one dashboard more efficient.
- Enhanced Brand Visibility: Social media marketing increases your brand’s online presence, reaching a wider audience and boosting recognition.
- Targeted Advertising: Precise audience targeting on social platforms ensures your marketing efforts are seen by the right people, maximizing conversion potential.
3. Business Consulting
Seasoned professionals can leverage their expertise to help organizations improve through business consulting services. Whether your background is in HR, IT, marketing, finance, operations, or other domains, you can translate your skills into a lucrative advisory business. Offerings may include data analysis, strategy recommendations, process optimization, technology implementation, change management plans, and ongoing support.
Your experience and network help build credibility with clients to command hourly fees averaging $100-$500. Many consultants start out moonlighting and then transition to full-time once established. Consulting is an appealing service business model with high-income potential, a flexible lifestyle, and the reward of helping businesses succeed.
4. Web Design Services
Every company needs a polished, professionally designed website to attract customers and drive sales in our digital world. Successful web design businesses deliver visually appealing sites and a smooth user experience that fosters trust and conversion.
Offerings include building sites from scratch, working from templates like WordPress, tailoring existing sites, hosting, and maintenance. You can provide end-to-end services for small business websites for $1000-$5000 based on customization.
E-commerce sites require advanced functionality like shopping carts, payment integration, and inventory management, ranging from $ 5,000 to $ 15,000+. Recurring revenue opportunities exist through hosting and site optimization services. Web design leverages your technical and creative skills to help businesses thrive online.
- Enhanced User Experience: Professional web design services ensure your website is visually appealing and easy to navigate, creating a positive experience for visitors.
- Improved Search Engine Ranking: Search engines often favor well-designed websites, leading to higher rankings and increased visibility, which can boost your online presence.
5. Event Planning
Organizing memorable events for organizations and individuals is a fast-growing, lucrative service-based business. As an event planner, you handle logistics like venue selection, vendor coordination, decor, catering, entertainment, and A/V equipment. Your organizational skills and eye for detail ensure every aspect runs smoothly.
Event planning services help companies execute successful conferences, retreats, and PR events while assisting individuals with weddings, parties, showers, and celebrations. You can start small, gain experience and a portfolio, and then expand to corporate events. Competition is fierce, so focusing on a niche like eco-friendly or budget events can help attract clients.
Many planners charge a percentage of the event cost, making income potential relatively high for better significant events. The reward of creating memorable experiences makes event planning an exciting service-based business.
6. Photography
Offering professional photography services allows you to leverage your artistic eye while setting a flexible schedule. You can specialize in portraits, weddings, commercial work, real estate, events, or other niches based on your skills and interests. Starting small by building a portfolio and then marketing your services gets the momentum going.
Most photographers charge hourly or package rates, averaging $150-$300 per hour. Wedding photography packages often range from $2000-$6000 or more. You can hire associate photographers to assist with shoots and manage editing to scale and maximize income potential. Photography requires strong technical skills with camera settings and lighting, creativity, and an aesthetic eye. The mix of science and art makes it an engaging service-based business.
7. Resume Writing Service
With the competitive job market, a well-crafted resume is essential for applicants to stand out. As a resume writer, you can help job seekers put their best foot forward by strategically tailoring resumes to highlight skills, achievements, and qualifications. Your service creates or overhauls their resume and helps optimize cover letters and LinkedIn profiles.
Packages help job seekers get all the documents needed to impress potential employers. Most resume writers charge $100-$400 for an average package. You can scale this business by focusing on higher-dollar executive packages and clients referred through corporate partnerships while outsourcing basic resume drafting. Strong writing skills and expertise in presenting candidates favorably are required. This essential service helps clients advance their careers.
8. IT Support/Computer Repair
With technology now intertwined with work and home life, the demand for IT support services is immense. This scalable business provides residential and commercial clients with computer and network installation, troubleshooting, security, maintenance, and optimization. Tasks range from diagnosing hardware/software issues to providing hands-on guidance for technology-impaired consumers.
You can offer remote or on-site support to fix problems quickly with minimal disruption. Especially for businesses, proactive maintenance and monitoring help avoid larger catastrophic issues down the road. Most providers charge hourly or packaged rates, averaging $100-$150 per hour for break-fix services. Managed services with ongoing maintenance agreements offer recurring revenue. Technical certifications and customer service skills are needed to succeed.
9. Personal Fitness Training
Personal training allows you to help clients achieve their goals through one-on-one and small-group training by blending your passion for health and fitness with an entrepreneurial spirit. You can offer sessions in clients’ homes, remotely via video chat, or rent studio space.
Packages typically include a set number of sessions, with hourly rates averaging $50-$120 based on your expertise and location. Training focuses on exercise, nutrition plans, lifestyle changes, and motivation to help each client holistically. Competition is high, so specific niches like women’s fitness, pre/post-natal, senior fitness, or weight loss can help attract ideal clients. Insurance reimbursements and corporate wellness partnerships also boost income potential. The flexibility and satisfaction of impacting lives make personal training an appealing service-based business.
- Customized Workouts: Personal fitness training tailors exercise routines to your individual needs and goals, ensuring every session is productive and efficient.
- Accountability and Motivation: With a personal trainer, you have a dedicated motivator and accountability partner, helping you stay on track and committed to your fitness journey.
10. Pet Care/Dog Walking
With pet ownership growing, businesses providing pet care services are in high demand. Offerings like dog walking, pet sitting, training, grooming, boarding, waste cleanup, and more appeal to busy owners who treat pets like family. You can start small by providing services in local neighborhoods, then expand by hiring additional walkers and sitters.
Promote your business through vet offices, pet stores, neighborhood apps, and social media. Average rates range from $15-$25 per 30-minute walk and $20-$40 per day of pet sitting. Offering add-ons like meal delivery, administering medication, training reinforcement, and transportation to vet visits allows you to increase revenue per client. This recession-resistant business capitalizes on the humanization of pets.
Starting a Service-Based Business in 2023
The possibilities are endless when starting a service-based business. Identify an area you’re skilled and passionate in that solves a real need for companies and individuals. Research the competition and develop a unique approach. Craft a business plan detailing your marketing and growth strategies.
With low overhead and the ability to start small and then scale, launching a service-based business is one of the best and most profitable business ideas. The sky’s the limit when you leverage your talents to help businesses and customers succeed. A well-executed service business can create freedom, fulfillment, and significant income.
