Will Your Business Survive?

Top 10 Small Businesses Most Likely to Succeed

Starting a small business can be risky, but some industries offer a much higher chance of success. If you're considering entrepreneurship, choosing a business with a proven track record can set you up for long-term stability and growth. In addition to starting a business from scratch, purchasing an existing small business can be a great way to minimize risk and leverage an established customer base. Based on industry trends and insights, here are the top 10 small businesses least likely to fail and most likely to thrive:

1. Real Estate Rental Property Ownership

• Rental property ownership boasts a 85% success rate over five years, significantly higher than many other businesses.

• The demand for rental properties continues to grow, driven by population increases and housing shortages.

• Generates passive income with long-term appreciation potential.

2. Accounting and Bookkeeping Services

• Businesses and individuals always need financial management, with an industry growth rate of 6% annually.

• Recurring revenue from monthly or yearly clients.

• Low overhead costs—can be run remotely.

3. Home Repair and Maintenance Services

• Skilled trades like plumbing and HVAC repair have a 92% survival rate within five years due to consistent demand.

• Essential services that customers prioritize even during economic downturns.

• Can scale by hiring additional skilled workers.

4. Property Management

• With over 48.2 million rental units in the U.S., property managers remain in high demand.

• Generates consistent income through service fees.

• Minimal startup costs if you have industry experience.

5. Cleaning Services (Residential & Commercial)

• Cleaning businesses have a 75% survival rate over five years due to steady demand.

• Low startup costs—can begin with basic equipment.

• Demand remains high regardless of economic conditions.

6. Healthcare Services (Private Practices, Home Care, Telehealth)

• The healthcare industry is expected to grow by 16% over the next decade, ensuring stable demand.

• Government funding and insurance coverage help stabilize income.

• High-profit margins in specialized care sectors.

7. IT Support and Cybersecurity Services

• Cybersecurity and IT support businesses report a 90% five-year survival rate due to increasing cyber threats.

• Recurring revenue through maintenance contracts.

• Can be operated remotely with flexible scaling options.

8. E-commerce and Subscription Box Businesses

• E-commerce sales are projected to grow 10% annually, making this a booming industry.

• Subscription models provide predictable revenue.

• Dropshipping options reduce inventory risks.

9. Educational and Tutoring Services

• Online education is projected to grow by 14% annually.

• Test prep, skill development, and specialized tutoring are always in demand.

• Low startup costs—can be run remotely.

10. Personal Fitness and Wellness Coaching

• The fitness industry is expected to grow by 8.7% annually, driven by health-conscious consumers.

• Can operate in-person, online, or hybrid.

• Subscription-based memberships generate recurring revenue.

Key Takeaways for a Successful Small Business

• Choose an industry with consistent demand and strong growth potential.

• Look for opportunities with recurring revenue models.

• Keep overhead costs low to maximize profitability.

• Consider remote or service-based businesses for flexibility and scalability.

• Explore purchasing an existing small business as a way to enter an industry with an established foundation.

If you're looking for a small business idea that offers stability and long-term success, these ten options provide excellent opportunities. Whether you want to start a business from scratch, buy an existing business, or invest in rental properties, I can help. Additionally, if you need assistance finding the perfect space to lease for your business, I can guide you through the process. Let’s work together to find the best opportunity for your goals!