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Any good endeavor starts with a good idea — and the same is true for small businesses. While profit isn't the only factor for a small business owner to consider, it's an important place to start. Other factors to consider include whether the business matches your interests and skills, and what sort of barriers to entry are required such as licensing or training. If this sounds like a lot to navigate, do not fret — Transworld is here to help. We can help you go through an idea validation process — including market research and financial feasibility — before you're too far in. Transworld can help you to do your research to make sure the concept will succeed. Owning a profitable small business is a great way to build wealth and take charge of your own destiny. The professionals at Transworld can help you get there. A recent study from Sageworks identified some of the industries with the most profitable small businesses. Not surprisingly, a number of the most profitable small businesses provide services rather than sell products. Service businesses travel to their customers, offering their products and services wherever the customer happens to be. As the age of on-demand services advances, so does the consumer's expectation of convenience. Small businesses in the service industry don't require significant capital investments or major investments in raw materials. Generally, service industries typically have lower overhead and startup costs as they are driven by human capital. However, that does not mean other major industries do not experience high profitability either. Some of the most profitable small businesses include:
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