As the economy deteriorates, many working adults are beginning to cut back on big expenses like big purchases and vacation spending. Instead, they use their excess funds for more modest luxuries, especially personal services like massages, salon visits, etc. Likewise, at a time when inflation is an issue, consumers and small business owners are opting to hire personal assistants and on-demand shoppers to make their daily lives more convenient.
These trends are good news for anyone looking to start a personal services business in 2023, with the final months of 2022 being the perfect time to get everything in place and ready for the new year. Keep in mind that as a business owner you will need to learn to accept mistakes and develop your brain in a new and sometimes unfamiliar direction while you prepare everything. Some of the more financially lucrative choices for entrepreneurs include small businesses that focus on massage therapy, personal shopping, hairdressing on the go, virtual assistance, and manicures. As the entire segment continues to grow, here are the current top picks for people looking to own and operate a start-up business next year.
Get a small business loan first
Whichever route you prefer, it’s always a good idea to explore the possibility of taking out a small business loan to fund all of the initial expenses that come with being an entrepreneur. Every year, many first-time buyers leave Accion Opportunity Fund small business loans to cover costs associated with purchasing equipment, paying commercial rent, running advertising campaigns, etc. Be sure to make a reasonable estimate of your needs before applying. This way, it is possible to more accurately budget the first expenses and borrow the right amount of funds for your new business. Keep in mind that the most successful startup owners started their freelance business careers with small loans.
The speed at which the field of massage is developing is almost unbelievable. Just a few years ago, masseuses and masseurs struggled to find new clients. Today, as more and more men choose to have a massage to minimize stress and recover from injuries, the potential clientele is exploding. There has never been a better time to open a body shop business. Expect your biggest initial expense to be tuition for a training program. After that, each practitioner must decide whether to do only visits or work in a small office. Keep in mind that professionals in this field offer a wide range of choices to their clients, including Swedish, athletic, rehab, and deep tissue versions of the treatment. Others focus on seated treatments, foot-only services, and more.
The aging of the population plays in your favor if you want to set up as an itinerant hairdresser. That’s because thousands of retirement communities and nursing homes hire on-site stylists to come to their homes on a regular basis. Plus, working adults who don’t have time to book appointments and visit busy salons across town appreciate a stylist who can come to their house. Expect to work with clients who are either elderly and reside in nursing homes or who are young professionals who want you to visit their offices or homes. Be prepared by having a vehicle that can easily hold all your gear and using a planning app so that you can book appointments efficiently.
If you like the idea of a small side gig that can be expanded into a full-time career, explore the concept of being a personal shopper. Most of those who do this kind of work leverage personal and social media networks to build a clientele. They tend to cater to older people who can’t go out and shop on their own. Additionally, some personal shoppers focus on young professional customers who are so dedicated to their careers that they don’t have time to take care of their own shopping chores.
VAs, or virtual assistants, currently enjoy a growing job market where they can choose the field they want to work in and the number of hours they want to spend on paid assistance per week. Create a VA website for yourself and be sure to include a comprehensive list of all your office and non-office skills. Next, log on to an online job search platform where you can search for professionals looking for VAs.