Business Growth Service

How Profitable Is A Business Growth Service? (Updated for 2024)

Pat Walls

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Updated: September 6th, 2024

How Profitable Is A Business Growth Service? (Updated for 2024)

So you want to start a business growth service?

And the first question that came to your mind was, “well, are business growth services actually profitable?”

With a market size of $11.6B - there’s plenty of business to go around.

Especially considering:

You could start a business growth service with as low as $100
Based on our data, business growth services generate an average of $1.81M per year
You could see gross margins as high as 95% with business growth services

There’s money to be made. Don’t worry.

But, I don't want to spoil it all. Below we’ll cover everything you need to know when it comes to the profitability of a business growth service.

Let’s dive in!

Is a business growth service profitable?

Yes, a business growth service is generally a profitable business. However, you still need to consider several factors since these things always impact the overall outcome.

For instance, since average revenue is $1.81M per year with an estimated gross margin of 90%, you could expect to recover your investment within 7 months or even less.

But of course, it all comes down to how much you earn compared to the potential revenues of your business growth service.

To determine whether your business is profitable, you should earn more than your expenses in the beginning months. However, while you're in your first month, it can be challenging to know what to expect.

Therefore, you should maintain a record of your monthly expenses and income to determine whether you're meeting your goals. By doing this step, you can see how your business growth service is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.

Is a business growth service worth it?

If you’re wondering if a business growth service is worth it, the answer is a big YES. With business growth services, you have the potential to earn $1.81M per year (this is based on data reported by real founders).

Further, you could have your initial investment back within months. Simply put, it’s a business worth a shot, especially if you have the resources and make the necessary efforts to achieve or surpass the target.

With a market size of $11.6B, it will be possible for you to build something that grows and turns into a flourishing business. As such, it’s the type of business you might want to consider starting.

Of course, you must learn and understand every aspect of running a business growth service to ensure success. Still, as long as you have the initial investment and can endure a few months before your actual gains, this business could be worth it.

You might want to consider reading more specifics about successful business growth services case studies.

Examples Of Profitable Business Growth Services

Here are a few examples of profitable business growth services, and a few more details about them:

1. Gabriel Neuman ($72K/year)

Gabriel Neuman, a successful WordPress developer, realized the need for individuals and enterprises to create and monetize their personal brands. He decided to productize his expertise and create a Personal Brand OS, aiming to double his monthly recurring revenue and grow his consulting and affiliate income. With his innovative approach, Gabriel plans to attract more customers by providing value-added services and content.

Is it profitable? Yes
How much money it makes: $72K/year
How much did it cost to start: $500

How I Started A $6K/Month Personal Brand Marketing Agency

Gabriel Neuman founded a Personal Brand Marketing Agency in 2020, earning around $15k per month at present, with plans to double the MRR in 2021 through the creation of his new product “Personal Brand OS,” having validated his idea by creating small examples for 3 actual customers.

Read this case study

Read by 4,506 founders

2. MagicSpace SEO ($240K/year)

Ilias Ism and his co-founder Sasha launched MagicSpace SEO, leveraging their skills as ex-SaaS founders to help startups save on ballooning ad budgets. In just six months, they grew to $20K MRR, showing the power of targeted SEO and growth marketing.

Is it profitable? Yes
What's the gross margin? 70%
How much money it makes: $240K/year
How much did it cost to start: $0

We Grew Our SEO Agency To $20K/Month In Just 6 Months

MagicSpace SEO, an SEO agency founded by Ilias Ism and Sasha, has grown to $20K MRR in just 6 months, primarily through affiliate partnerships and growth partnerships, while focusing on pay-per-lead models or revenue-share agreements, rather than charging for time or using poor-quality spammy backlinks.

Read this case study

Read by 2,552 founders

3. Dezan Shira & Associates ($18M/year)

Chris Devonshire-Ellis started Dezan Shira & Associates in Hong Kong in 1992 with very little capital. Despite warnings not to go to China, he saw its potential and moved there to explore business opportunities. Through hard work, strategic networking, and innovative marketing techniques such as distributing pamphlets and utilizing the internet, the business grew to become one of the most influential consulting practices in Asia with 28 offices across the region and a turnover of approximately $20 million per annum.

Is it profitable? Yes
How much money it makes: $18M/year
How much did it cost to start: $2K

How I Started A $1.5M/Month Law, Tax And Compliance Consulting Business With 28 offices in China And The Rest Of Asia

Asian-focused consulting firm Dezan Shira & Associates, founded in Hong Kong in 1992, has expanded to include 28 offices and a client base of several thousand companies with US$20 million in annual turnover, handling about US$8 billion in foreign investment into Asia, by determined hard work and creativity in marketing, billing structure and hiring equity-dependent staff.

Read this case study

Read by 6,811 founders

Learn more about starting a business growth service:

Where to start?

-> How much does it cost to start a business growth service?
-> Pros and cons of a business growth service

Need inspiration?

-> Other business growth service success stories
-> Marketing ideas for a business growth service

Other resources

-> Business growth service tips

How much can you make with a business growth service?

With a business growth service, you can make an average of $1.81M revenue per year (based on data reported by real businesses).

You can start with an initial investment as low as $100. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 7 months.

How much does a business growth service make a week?

Based on our data, average weekly revenue for a business growth service ranges around $37.8K. As such, you could see monthly revenues of $151K.

To know if your business growth service achieves the weekly profit target, you need to keep track of the total earnings you get per day. Afterward, you'll want to consider subtracting the expenses you have daily.

Learning your weekly profit can also show whether you're hitting your target goal for your business growth service.

How much do business growth services owners make?

The income of a business growth service owner can vary depending on various factors such as location, size, competition, and the owner's business skills.

But to give you some idea, the weekly revenue of an established business growth service is about $37.8K. But this can be lower or higher depending on so many factors - it's almost impossible to say exactly.

While the potential for earning a good income as a business growth service owner exists, success in this field requires a commitment to providing quality products and services and building a strong reputation within the community.

Business Growth Service Profit Margins

Generally speaking, a business growth service can expect profit margin of around 90%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of a business growth service, profit margins can vary depending on various factors, such as the type and quality of products sold, the size of the store, and the level of competition in the area.

However, these figures can vary depending on the pricing strategy, inventory management, and overall efficiency of the business. To maintain healthy profit margins, business growth service owners must focus on managing costs, negotiating favorable supplier terms, and providing high-quality products and services to attract and retain customers. By doing so, business growth service owners can ensure long-term sustainability and profitability for their business.

Business growth service owner salary

The salary of a business growth service owner is an unpredictable figure. It's significantly influenced by numerous factors, including the store's location, its size, and the degree of competition. An owner of a well-established business growth service, in a prime position, might see an average weekly salary around the ballpark of $34K.

But it's worth noting, such numbers aren't always consistent. The earnings can vary wildly, potentially swinging by as much as 80% either way.

Achieving consistent success and maintaining a reliable income stream in this industry requires a deep commitment. It's imperative to offer high-quality products, deliver impeccable customer service, and nurture a trusted bond with the community you serve.

Conclusion

In a nutshell, based on many of our examples, a business growth service may be a promising business to start - but the success of your business growth service mostly depends on your effort and your approach.

If you focus on these, you'll have a much higher chance of a profitable business growth service.

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Starting A Business Growth Service: Everything You Need To Know

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