As the economy worsens, many working adults begin to cut back on big-ticket items like significant purchases and vacation spending. Instead, they use their excess funds for more modest luxuries, particularly personal services like massage, trips to the salon, and more. Likewise, during eras in which inflation is a problem, consumers and owners of small businesses opt to hire personal assistants and on-demand shoppers to make their daily lives more convenient.
Those trends are good news for anyone who wants to start a personal service business in 2023, with the last months of 2022 being the ideal time to get everything set up and ready to go for the new year. Keep in mind as a business owner you will need to learn how to embrace mistakes and grow your brain in new and sometimes unknown direction while you get everything set up. Some of the most financially lucrative choices for entrepreneurs include small businesses that focus on therapeutic massage, personal shopping, outcall hair styling, virtual assisting, and manicures. While the entire segment continues to expand, the following are the current top picks for people who want to own and operate a startup company next year.
Get a Small Business Loan First
No matter which of the four paths you prefer, it’s always a good idea to explore the possibility of taking out a small business loan to fund all the upfront expenses that go along with entrepreneurship. Every year many first-time owners take out Accion Opportunity Fund small business loans to cover costs associated with buying equipment, paying commercial rent, conducting ad campaigns, and more. Be sure to make a reasonable estimate of what your needs are before applying. That way, it’s possible to budget early spending more accurately and borrow the right amount of funds for your new enterprise. Keep in mind that the most successful startup owners began their independent commercial careers with small loans.
The speed at which the massage field is growing is almost unbelievable. Just a few years ago, masseuses and masseurs struggled to find new customers. Today, as more and more men are opting to get a massage to minimize stress and recover from injuries, the potential client base is exploding. There has never been a more opportune time to open a bodywork business. Expect your biggest initial expense to be a training program’s tuition. After that, every practitioner needs to decide whether to do outcall only or work from a small office. Keep in mind that professionals in this field offer a wide range of choices for their customers, including Swedish, sports, rehab, and deep tissue versions of the treatment. Others focus on seated treatments, foot-only services, and more.
Mobile Hair Stylist
The aging population works in your favor if you want to set up shop as a mobile hairstylist. That’s because thousands of retirement communities and nursing homes hire outcall stylists to come to their locations on a regular basis. Also, working adults who have no time to book appointments and visit busy salons halfway across town appreciate a stylist who can come to their location. Expect to work with clients who are either elderly and reside in nursing homes or who are younger professionals who want you to visit their offices or homes. Prepare by having a vehicle that can easily hold all your equipment and using an advanced scheduling app so you can book appointments in an efficient manner.
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 who do this kind of work leverage personal and social media networks to build up a customer base. They tend to cater to older people who can’t get out and shop for groceries on their own. Additionally, some personal shoppers focus on young professional clients who are so devoted to their careers that they have no time to attend to their own shopping chores.
VAs, or virtual assistants, are currently enjoying a growing job market in which they can choose the field in which they wish to work and the number of hours they want to devote to paid assisting per week. Set up a VA website for yourself, and be sure to include a comprehensive list of all your office and non-office skills. Then, connect with an online job-finder platform where you can scan for professionals who are searching for VAs.