Insider Monkey, in its article The 10 Most Profitable Businesses In 2021 have ranked the following businesses as the most profitable in the country. The Tutoring industry comes tenth as students do not have the time to attend classes on campus. So many schools and colleges are now offering online classes. As these services would be provided using video software, the start-up costs for such a business would be moderate. The profitability of the tutoring business is high due to the number of students who require tutors and the level of education of the tutors. Next is Fitness Business. Even though many indoor fitness centres and gyms were closed due to the COVID-19, the industry has still flourished. The annual revenue of the fitness industry in the US is $27.6 billion. According to Bloomberg, 54% of gym subscribers had cancelled or frozen their memberships due to the virus outbreak in the industry. Instead, they were opting for virtual exercises due to their perceived advantages. Another is the Delivery business. The concept of delivering goods to customers’ homes has been around since the first restaurant in the US opened its doors in 1975. As more establishments started offering such services, the demand for them grew. Even after the pandemic, the convenience of receiving goods at home will still be craved for by those demanding these services.
The Digital Marketing Business is also on the list. The emergence of digital platforms and the increasing number of digital-based services have made marketing more prevalent globally. In the US, digital marketing is expected to become one of the most profitable industries in 2021.
Due to the increasing number of businesses wanting to establish their digital presence, app developers have become very popular. As businesses closed down due to coronavirus, they rushed to expand their digital footprint. Over 33 billion apps were downloaded in the third quarter of 2020, a 20% increase from the same period last year. As app development does not require any physical location or certification, the competition is low, which helps new app developers to thrive. For more details, click to continue reading The 10 Most Profitable Businesses in 2021.