5 Most Profitable Small-Business Industries in 2018 Legal Services: 14.48% Legal Services: 14.48% Image credit: Shutterstock Anyone who has ever hired a lawyer knows it’s not cheap. Law, like accounting, generally has low operating costs as well as repeat clients. However, this business category includes not only lawyers, but notaries, settlement officers (who deal in the transaction of securities) and title search agents in real estate. Offices of Dentists: 14.41% Offices of Dentists: 14.41% Image credit: Shutterstock Dentists, like physicians, benefit from recurring patients, and while startup costs can be expensive -- dental equipment is quite costly -- the profession has the advantage of handling several patients at a time, plus many pay out of pocket. Electric Power Generation, Transmission and Distribution: 14.02% Electric Power Generation, Transmission and Distribution: 14.02% Image credit: Shutterstock This category of small, privately-held electric power companies includes not just your traditional, fossil fuel electric powers but also hydroelectric, nuclear, solar, wind, geothermal and more. Lessors of Real Estate: 14.01% Lessors of Real Estate: 14.01% Image credit: Shutterstock Lessors, also known as landlords, show that renting both residential and nonresidential properties is a profitable gig once you recover the initial costs of purchase. Offices of Other Health Practitioners: 13.30% Offices of Other Health Practitioners: 13.30% Image credit: Shutterstock How is this category different from physicians? It’s not, really. There is a census delineation between chiropractors, optometrists, mental-health practitioners and podiatrists -- who fall under this category of “other health practitioners” -- and all other types of physicians.
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Writing the Business Plan: The Financial Plan The Financial Plan Section of the Business Plan It's at the end of your business plan, but the financial plan section is the section that determines whether or not your business idea is viable, and is a key component in determining whether or not your plan is going to be able to attract any investment in your business idea. Basically, the financial plan section consists of three financial statements, the income statement, the cash flow projection and the balance sheet and a brief explanation/analysis of these three statements. This article will lead you through the preparation of each of these three financial statements. First, however, you need to gather together some of the financial data you'll need by examining your expenses. Think of your business expenses as broken into two categories; your start-up expenses and your operating expenses. All the costs of getting your business up and running go into the start-up expenses...
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