If your passion lies in the financial services industry, you’re in luck. In 2022, the U.S. financial services industry was valued at roughly $4.85 trillion. The numbers don’t lie, and it’s easy to see how a startup in this industry can be lucrative. But, the trick is choosing the right business plan for your community.
If your passion lies in the financial services industry, you’re in luck. In 2022, the U.S. financial services industry was valued at roughly $4.85 trillion. The numbers don’t lie, and it’s easy to see how a startup in this industry can be lucrative. But, the trick is choosing the right business plan for your community.
If you’re ready to get started, read on to discover ten financial services startup ideas. Afterward, keep all these options at your fingertips with our free Small Business Startup app—available for both Apple and Android.
Franchising has always been a valuable part of the American economy. In fact, in 2019, the franchising industry recorded an output of roughly $787.5 billion—and franchising consultants are at the center of it all. With more and more people aspiring to become their own boss, running a franchise consulting firm is both rewarding and lucrative. After all, there’s nothing quite like witnessing an aspiring entrepreneur achieve their dream of owning their own business. You’ll help match your clients with the best franchise brand for them and may even assist them in securing the capital needed to own and operate that business.
Brokerage services can be an excellent way to start up a financial business while enjoying the comforts of working from home. Running a business centered on brokerage services provides a lot of freedom regarding what you choose to offer clients. Your services could include anything from insurance services to investment management. As a whole, the market size for brokerage services varies greatly depending on the niche that you offer. For example, the Real Estate Sales & Brokerage industry—when measured by market size and revenue—was valued at $226.8 billion in 2022.
Financial advisors are tasked with managing all aspects of their client’s financial world, from retirement planning to estate planning to savings and investing. They are responsible for more than just suggesting investment choices or selling financial products. An Advisor will assess a client's financial status and understand their financial goals, ultimately, tailoring a plan to achieve those goals.
If you’re thinking about launching your own financial advisory firm, we have great news for you. In 2020, the global financial advisory services market was valued at $79.4 billion, but the good news doesn’t stop there. By 2030, the market is projected to reach a value of $135.6 billion. With numbers like that, it’s easy to understand why a certified financial planner (CFP) may want to start planning a transition to independence.
If you’re a financial advisor searching for a niche, wealth management may be very well worth your time. According to Forbes, wealth management is regularly the most profitable business model adopted by financial advisors, and countless data and statistics show that customer demand for wealth management is growing by the day. This industry is predicted to surge with expected revenues of $254 billion by 2030.
Starting a tax preparation business can be extremely lucrative. Following this business plan, many professionals enjoy the freedom of part-time hours along with additional income. As a tax professional, you already know the busiest time of the year! With that said, it’s no surprise to us that many tax preparers make $30,000 to $100,000 in 90 days or less. Why not cut out the middle-man and make a larger profit yourself?
The customer base in investment banking services is vast and the opportunities are endless. Services in the industry include everything from financial advisory and brokerage services for large corporations to underwriting public offerings, mergers & acquisitions (M&A), and more. With so many opportunities to explore in this industry, it’s easy to understand the appeal and freedom that comes with owning a boutique investment firm.
When it comes to the financial services industry, debt collection is often forgotten. However, before you brush this idea aside, keep in mind that creditors often pay their collector between 25% and 50% of the amount collected. Collection agencies often have a very broad focus ranging from credit cards, medical, automobile loans, and more. With such a high-profit margin and broad market, it’s easy to understand why this industry is so lucrative.
Using your financial experience to start your own business is an exciting opportunity, and we know you’re probably eager to get started. But, remember to take your time to explore all your options. You may also want to consider business opportunities that won’t require you to do all the heavy lifting alone.
While you always have the “opportunity” to start a small business, sometimes, it makes more sense to invest in an opportunity that already exists. These are called “Franchise Opportunities.” If you’re ready, explore the financial service franchises, below! And, remember to download the free Small Business Startup app to keep all these opportunities at your fingertips—available for both Apple and Android.
The Elite Owner Program is designed to attract highly capitalized entrepreneurs seeking to establish and scale a business with unlimited growth potential combined with low relative risk compared to other startup opportunities. With tiered entry levels based on liquid capital and staffing, the Farmers program offers strategic advantages and financial incentives tailored to business-minded entrepreneurs whose ambition and desire for growth aligns with our own.
Paramount Tax franchise is here to help individuals, CPAs, and small tax firms find the organization and access support and resources necessary to compete with big name tax preparers. Franchising with Paramount Tax gives you the training, job security and flexibility you need to find success--no matter your level of experience. Learn more now
ATC Healthcare Services is the leading franchise opportunity in the 42 billion medical staffing industry. It offers an outsized financial opportunity with an average revenue of 2.9 million per year. No health or staffing business experience required, and all the back-office work is done for owners by corporate HQ. Minimal overheads, no buildout, no big real estate footprint. Recession-resistant, essential business with multiple revenue streams and large territories.
Founded in 1983, Express has more than 40 years of industry-leading experience and has been recognized as the 1 staffing franchise in North America for 15 consecutive years. We offer a variety of staffing solutions including Temporary Staffing, Evaluation Hire, and Direct Hire, across a wide variety of industries and job classifications.
Lawn Doctor offers custom lawn care solutions to residential and business consumers, including lawn services, pest control, and tree and shrub care. With over 45 years of experience in the industry, Lawn Doctor stands apart by being the leader in customer satisfaction, with an average customer retention rate of over 80. Lawn and landscape services are a 67 billion-a-year industry, and each year more homeowners switch away from do-it-yourself lawn care to effective professional solutions.
Opportunities for great ROI, multiple revenue streams with plant health care services, and lifestyle flexibility Monster Tree Service pioneered the tree service franchise industry in 2008 and continues to be a leader in this 36 billion industry Monster Tree Service is the nations largest tree service, tree removal, and plant healthcare franchise and provides its franchise owners with extensive training and comprehensive support. Reach new heights in your career with Monster Tree Service
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