Most profitable business in 2023

1 . Cupcake Business




If your family and friends rave about your baking skills, this idea is for you. The demand for the cake industry is expected to grow. In 2019, the global cake industry was valued at $42.9 billion, with an expected annual growth rate of 3.3%, according to Grand View Research. As an added bonus, small specialty shops are expected to enjoy most of the profits.


A cupcake business is a viable option for entrepreneurs with few resources. To start this potential home business idea, you only need an oven and basic baking supplies. Once the sales start rolling in, you can grow to larger formats. For example, you could start by selling your cupcakes in a display case at a local shop, then graduate to a food truck and, finally, to a stand-alone brick-and-mortar shop.

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