Types of Business to Buy

The 10 Best Types of Business to Buy

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As of 2022, the business world continues to evolve at a pace. There are so many promising new ventures opening up to budding business owners, entrepreneurs, and freelancers – many of which would have been inconceivable just a couple of decades in the past.

Of course, it’s never quite as simple as it sounds. Keep in mind that, no matter what industry you plan to home in on – whatever business you intend to buy, and however you intend to get your skin in the game – working with a corporate solicitor is paramount. From buying assets to buying shares – laying the groundwork now to save yourself money later – and feeling confident that you always have that vital pillar of support to lean on, getting expert help now is always the best thing you can do for yourself, and your budding business.

With that in mind, here are the 10 most lucrative types of business to get a stake in as of 2022.

1.     Holiday Rentals

Travel has certainly reaffirmed its prominence on our list of priorities since the havoc wrought by the coronavirus in 2020. In 2021, Airbnb alone saw gross revenues rise by 76.6% to a total figure of $48.9 billion – proof of the industry’s ability to bounce back.

From staycations to ‘workations’, getting in on the action by making a solid property investment and targeting the holiday market is an excellent way to generate a good line of income.

2.     SaaS Businesses

SaaS businesses are in an incredibly strong position right now. Offering a digital service to a pool of subscribed customers who pay a monthly fee creates a very stable, mutually beneficial and scalable relationship.

While you’ve got plenty of ‘big name’ examples from the likes of Google and Netflix, there are many, many SasS success stories from slightly lower down the ladder.

3.     eCommerce Businesses

We don’t need to tell you that the world of eCommerce is thriving right now. It is an incredibly lucrative area for those who are capable of staking their claim to relevant markets, with many possibilities for reducing overheads and selling at incredibly strong margins.

4.      Digital Marketing Agencies

You can’t think about the success of eCommerce too long without moving into a conversation about digital marketing. The value that traditional marketing holds for traditional, bricks-and-mortar stores is multiplied ten-fold when you move into the digital realm, where competition is stronger than ever and the fight to be seen, heard, and garner loyalty from customers is tougher than we would have ever thought possible.

5.     Virtual Assistant Services

With businesses growing increasingly used to remote working, more and more are recognising the value in virtual assistants. Offering that invaluable line of support to business owners and managers, and being on-hand to see to a long list of daily tasks without needing to travel or relocate.

6.     Online teaching

Just like virtual assistant services, online teaching and tutoring services are incredibly popular these days. From teaching English as a second language to specialised skills and crafts,

7.     Cleaning services

While so many businesses and services can now be offered digitally, cleaning is one of a small number of industries that cannot take place wholly online. What’s more, it’ll always be in demand.

8.     Translation

An increasingly digital and interconnected world means that people are coming together and collaborating from geographically disparate parts of the world, or looking to make an impact in new markets overseas, more than ever. For obvious reasons, that can only mean one thing: a growing need for quality translation services, that can be relied upon to convey meaning with a high level of fidelity.

Those who turn to translation services are putting a significant responsibility into the translator’s hands, so gaining authority in this industry has the potential to be highly lucrative.

9.     Accounting

A strong accounting business will never not be in demand from businesses and individuals. While computers can do plenty of complex sums on our behalf, it’s unlikely that the human touch of a real and experienced accountant will ever lose its value for clients.

10. Online Dating

With more and more of us spending increasing amounts of time at home – working from home and, often, socialising from home too – there is an ever-increasing need for a strong platform for meeting new people, and making new connections.

Dating apps that can offer something new and exciting to users have, historically, performed incredibly well, and all it takes is a novel idea to be turned into a reality.  

Also Read: 5 Reasons Your Business Needs a Call Center



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