10+ Best & Profitable Cash Business Ideas [2023]

Looking to start a profitable cash business in 2023? Check out our list of 10+ of the best cash business ideas for entrepreneurs in the coming year. From home services to retail, there's something for every budget and interest. Get started on your dream business today!
Newfoundr

By Nick Cotter
Updated Feb 07, 2024

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Hey there, future entrepreneur! Are you ready to dive headfirst into the world of cash businesses? Well, you've landed at the right place! As we leave 2022 behind and step into 2023, it's time to take control of your financial destiny. And guess what? We've got you covered with some of the best, most profitable cash business ideas for the coming year.

Imagine this - you, being your own boss, making your own rules, and most importantly, reaping all the profits. Sounds exciting, right? But let's be honest, starting a business can be a daunting task. It's like standing on the edge of a cliff, wondering if you'll fly or fall. But don't worry, we're here to give you that nudge, that little push you need to spread your wings and soar.

Whether you're a seasoned business owner looking for a fresh venture or a newbie ready to dip your toes in the entrepreneurial pool, this article is your treasure trove. So, sit back, grab a cup of coffee, and let's embark on this exciting journey together!

Ready to turn your dreams into reality? Let's dive into the 10+ best and profitable cash business ideas for 2023. Trust us, by the end of this read, you'll be raring to get started!

Home-based Catering Business

Home-based catering is a business idea which involves an individual or team preparing and delivering food to customers in their own home. It can be a great opportunity for someone with a passion for food who wants to start their own business without the added expenses associated with larger scale catering operations. The advantages of home-based catering are many:

  • Lower overhead costs due to no need for bricks-and-mortar premises
  • More flexibility when it comes to adapting menus and recipes
  • Ability to build a customer base quickly with minimal start up costs
  • Delivery of meals directly to customers without the need for delivery services
image of a Home-based Catering Business

Cleaning Services

A Cleaning services business offers specialized services such as deep cleaning, carpet cleaning, window cleaning, and other home or office related services. It is a great business idea for those looking to make a good income from home. Here are some of the advantages of a Cleaning services business:

  • Flexible hours – you can choose when you work and how much you work
  • Low start-up costs – little more than transportation and cleaning supplies are needed to start a Cleaning services business
  • Easily scalable – as demand for your services grows, so can your business
  • Recurring revenue – many clients become long-term customers, leading to a steady and reliable stream of income
  • Potential for growth – if you get enough customers, you could consider hiring employees or subcontractors to help meet the demand for your services
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Examples of successful businesses:

Cash businesses are a thriving industry, providing services such as check cashing and short-term loans. Many companies have made their mark in this industry through innovative products and customer service. Here is a list of successful cash businesses:

  • ACE Cash Express
  • Money Mart
  • Quik Cash
  • Cash America
  • Check 'n Go
  • Advance America
  • Speedy Cash
  • Sun Cash
  • Payday Express
  • LoanMart

Personal Shopping Services

Personal shopping services provide individuals with personalized assistance in choosing items for purchase. It is a great business idea as it offers the opportunity to provide essential lifestyle services to those who don't have the time, energy, or knowledge to shop effectively. Some of the benefits of starting a personal shopping service include:

  • Potential to network and build relationships with local retailers
  • Additional income generation opportunities through commissions, referrals or upselling
  • Flexible schedule and hours worked
  • Having a unique competitive edge that appeals to busy or disabled customers.

More resources:

Event Planning And Coordination

Event planning and coordination is the process of organizing and managing events such as weddings, corporate meetings, conventions, and parties. It involves everything from creating a timeline of activities to providing food and furniture, organizing logistics, and more. Event planning and coordination can be a great business idea as it offers numerous benefits:

  • High potential for good margins: Event planning services typically charge a high fee for their service, so running this business can result in high margins.
  • Flexible working hours: An event planner or coordinator can choose to work whenever they want to fit around any other commitments they may have.
  • Varied tasks: While some events may require similar staffing needs, no two events are alike, meaning that every job will be different.
  • Opportunity to network: Being an event planner gives you the opportunity to build relationships with vendors, industry professionals, and potential customers.
  • Helping people: Working in event planning means you get to help people create memorable experiences for their guests that last for years.

Virtual Assistant Services

A Virtual assistant services is a business that provides services to companies and individuals through remote access. It can involve tasks such as scheduling, customer service, administrative tasks, and more. There are many advantages to having a Virtual assistant services, including:

  • Cost-effectiveness – virtual assistants are more affordable than traditional employees
  • Flexibility – services can be tailored to match specific client needs
  • Convenience – work can be done from anywhere with an internet connection
  • Efficiency – virtual assistants save time and money by automating routine tasks
  • Security – sensitive data can be protected through secure technologies

Related business ideas:

Dog Walking/pet Sitting

Dog walking and pet sitting are both services that help busy pet owners. Dog walking services provide dog owners with an extra hand to walk their pet when they can’t make it home in time or just don’t have the time. Pet sitting services are also offered for individuals, who need someone to look after their pet while they are away. Both of these services provide a great business opportunity as they offer pet owners convenience and flexibility. Here are some reasons why starting a dog walking/pet sitting business could be a good idea:

  • Growing demand - With people's lives becoming increasingly busy, there is an increasing demand for dog walking and pet sitting services.
  • Potentially high earnings - Depending on where you live, there is potential to make a good income with dog walking/pet sitting jobs.
  • Low startup costs - Starting a business in this industry doesn’t require any major capital investment or large outlays of cash.
  • Flexible hours – You can determine your own hours, taking less or more jobs depending on your schedule.

Home Staging

Home staging is a process of making a home look more appealing to potential buyers. It involves rearranging furniture, organizing space, decluttering and enhancing the aesthetic of a home to make it look more attractive. This is an incredibly important part of the selling process, as it is an effective way to create a positive first impression for potential buyers. Here are some reasons why home staging can make for a great business idea:• Low upfront costs – Starting a home staging business does not require significant upfront costs as compared to other businesses. • Flexibility – A home staging business offers immense flexibility in terms of work hours, working from home or from different locations, and the ability to choose when and if you take on additional clients.• Room for growth – With the right marketing efforts, there is an immense opportunity for growth with a home staging business. • Variety – Home staging requires creativity and ingenuity in order to come up with new ideas and different designs.

Personal Chef/meal Preparation Services

A Personal Chef/Meal Preparation Service is a business that offers personalized, customized meals to clients. It can be run out of a private kitchen, catering business, or even a cooking school. The service can include preparing meals for private events, special occasion dinners and even regular meal-planning for busy families. The personal chef/meal preparation service would make a great business idea because:

  • It allows for customers to have personalized, custom meals made for them.
  • Customers can get creative by requesting different types of cuisine and dietary restrictions.
  • It is easy to get started and can be run with minimal overhead costs.
  • It is a very profitable business with potential to expand.

Handyman Services

A Handyman services is a business that provides various home repair and maintenance services to individuals. As such, this business can provide an ideal solution for those who require help with the upkeep of their home but don’t have the time, knowledge or tools to do it themselves. Benefits of starting a Handyman services include:

  • Flexibility in terms of clientele and hours worked
  • Opportunities to create a unique pricing structure
  • Low overhead costs
  • An opportunity to build expertise in higher-end home repair and remodeling
  • A chance to work independently and choose the jobs you want to take on

Home Daycare

Home daycare is a business where an individual runs a daycare service from their own home. It can be a great business idea for those looking to supplement their income, especially for stay-at-home parents who want to make some extra money. There are several advantages to running a home daycare:

  • Low overhead costs
  • Flexible hours
  • No rent or mortgage fees
  • Ability to create your own rules and regulations
  • A less structured environment than most childcare centers

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We're newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.