Would you like to start a business but have no ideas? Here is our list (in alphabetical order) of some of the most successful small business ideas in the UK today.
Successful UK small business ideas to get you started
1. Airbnb
Renting out a property as a holiday home is proving very profitable for investors and homeowners alike. The amount you can make varies by area.
If you own an Airbnb in a popular city, then you can make thousands of pounds per year. Cardiff is currently ranking as the most popular city for Airbnb with homeowners earning 86% more than traditional landlords.
Airbnb proved to be a profitable business over the year, and remains the same now.
2. Bed and breakfast
Bed and breakfasts in the UK generated £2 billion a year revenue pre-pandemic, according to the Bed and Breakfast Association. Anyone who has tried to book a holiday recently knows that this sector is certainly bouncing back!
If you are willing to put in a lot of hard work and training, then you can do very well. Customers are discerning and you will need to offer a high-quality experience and outstanding customer service to stand above the competition.
Read the Rapid guide to starting a bed and breakfast to find out what it takes.
3. Catering
The start-up costs for a catering business can be low and you can make substantial profits. The usual gross profit margin for the mobile catering industry is between 65% and 85% and can be up to 95%. The street food industry is also growing because people continue to demand high-quality, affordable food on the go.
A mobile catering business is not your only option. See these food business ideas for the UK.
4. Cleaning
It can be extremely profitable and easy to start a cleaning business because it is a service that is in high demand. Most cleaning businesses begin with house cleaning, with some specialising in specific areas such as cleaning carpets to make extra money. There is also the potential to move into commercial cleaning.
Overheads are very low which makes this an excellent start-up idea for people with limited capital.
For more information, please read this article: How to start a cleaning business in the UK
5. Equipment rental
There are plenty of equipment rental ideas including books, cars, costume, furniture and more. If you carry out your research carefully to find out what customers in your area are likely to rent, there is huge potential to make a profit.
The construction and rental leasing business, for example, is expected to grow substantially over the next five years, according to an industry research report by IBISWorld. This is largely due to investment in house building and renewable energy projects.
6. Furniture restoration
Furniture restoration is a highly profitable business. You look for undervalued furniture in second-hand shops, do it up and sell it to the highest bidder. In current times we all want to recycle and reuse items to look after the planet, so the timing for this type of business is perfect.
There are many courses you can take to learn to be a furniture restorer, such as this diploma course from the John Academy.
7. Laundry service
The coin-operated laundry service model is continuing to grow. There is also demand for laundry businesses that offer services such as washing fur or even horse blankets. It is important to find out whether there is a niche you can fill in your local area.
If you are interested in starting a laundry business read JLA’s blog to find out where to begin.
8. Leaflet distribution agency
Although we live in an age of technology, there is still high demand for leaflet distribution. That’s because leaflet distribution brings £12 million to UK businesses every week.
There is very little information online about starting a leaflet distribution agency, so find out more by calling the government’s free business support helpline.
9. Market stall
If you sell the right product in a place with a high footfall of the right customers, then you can make a lot of money. For example, a stall selling sushi in St Michael’s Street Food Market in the centre of Bristol is currently thriving.
A market stall is a cost-effective way to sell your products, plus you interact with your customers and really get to know them – marketing gold!
Consider different market stall ideas and choose one you are passionate about.
10. Removals company
A removal company has the potential to make a serious profit. Large gains are found in less glamorous fields such as waste or household junk removal. As well as making money from the removal fee this type of business can make money by being paid by recycling centres, selling high value items on, or by having a contract to empty local recycling bins.
There are many different types of removal company. The secret is to find out which service is needed or underserved in your area.
11. Taxi/private hire
In 2019 the UK taxi industry was worth £9 billion, according to IBISWorld. As there are 15,000 taxi businesses in this country, that equates to over £600,000 each per annum.
To stand out from the crowd you need to consider what market you wish to attract and buy vehicles to suit that market. You also need to offer great customer service, so your business grows by word of mouth. Consider developing a user-friendly app so you can compete with the convenience of large companies like Uber.
Start by doing your homework and finding out what is involved by reading Starting a taxi or private hire business.
Do you have an idea for a small business that could be successful in the UK?
At Massive Startup we can help you to turn your ideas into a successful small business in the UK. We provide you with all the tools you need – from building a professional website to logo design and branding.
Each of our Business Starter Packs includes an Initial Consultation Service, where we work with you to set business goals and help you to achieve them.
Take the first step today by filling in our contact form or email us to start@massivestartup.co.uk
