The Top 8 Most Profitable Home Service Businesses To Start Right Now

Starting a home service business is a great investment opportunity due to the increasing demand for specialized services.

Better yet: These are businesses that can scale quickly, feature a real ‘get up and go’ way of operating, and can get you into big-time order values and leads. Each one has its own special quirks, but all of them offer upward revenue paths and the chance to eventually create a self-sustainability.

HUB: The ULTIMATE Guide to Starting and Growing a Home Service Business

Here’s a breakdown of the top 10 most profitable home service businesses to start in 2024, based on industry trends and data:

The Top 8 Most Profitable Home Service Businesses to Start Right Now

1 - HVAC (Heating, Ventilation, and Air Conditioning)

• Revenue Potential: $130 billion industry by 2028 with a compound annual growth rate (CAGR) of 6%.
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• Reason for Profitability: Rising need for energy-efficient systems, repair, and maintenance services due to extreme weather patterns.
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• Hot Stat: The average HVAC business in the U.S. generates around $400,000 in annual revenue.
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• ‍Source Link: Statista - U.S. HVAC Industry

2- Plumbing

• Revenue Potential: $124 billion U.S. market in 2023.
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• Reason for Profitability: Ongoing demand for plumbing installation, repair, and replacement, especially in aging homes.
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• Hot Stat: Plumbing businesses can average between $100,000 to $1 million annually depending on size and clientele.
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• Source Link: IBISWorld - U.S. Plumbing Industry

3 - Electrical

• Revenue Potential: $181 billion U.S. market projected by 2025.
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• Reason for Profitability: Consistent demand for new installations, repairs, and upgrades, especially with smart home technology on the rise.
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• Hot Stat: Skilled electricians can charge $50 to $100 per hour, depending on the region.
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• Source Link: IBISWorld - U.S. Electrical Industry

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4- Roofing

• Revenue Potential: $51.9 billion U.S. market, growing due to climate-related repairs and energy-efficient roofing solutions.
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• Reason for Profitability: Essential service with high margins due to the specialized skill set required and consistent demand.
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• Stat: Average roofing job costs between $5,000 and $10,000, leading to high revenue potential.
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• Source Link - Forbes
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5 - Landscaping and Lawn Care

• Revenue Potential: $114 billion U.S. market, with steady growth driven by residential and commercial clients.
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• Reason for Profitability: Strong demand for both basic maintenance and advanced landscape design.
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• Stat: Landscaping businesses generate an average of $70,000 to $200,000 in annual revenue.
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• Source Link - Landscaping Market Research Reports
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6 - Cleaning Services (Residential and Commercial)

• Revenue Potential: $97.6 billion U.S. market by 2026, with consistent demand across residential and commercial sectors.
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• Reason for Profitability: Low startup costs, recurring client base, and the ability to scale with ease.
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• Stat: Average cleaning businesses generate $36,000 to $100,000 in their first year.
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• Link Source - CleaningBusinessToday
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7 - Pest Control

• Revenue Potential: $23 billion U.S. market by 2030, driven by pest-related health concerns and new regulations.
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• Reason for Profitability: Seasonal demand and lucrative service contracts with both residential and commercial clients.
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• Stat: Pest control services can bring in over $200 per job, with recurring service contracts further boosting profits.
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• Link Source - MarketWatch
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8 - Window and Door Installation

• Revenue Potential: $36 billion U.S. market, with an annual growth rate of 4.5% through 2027.
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• Reason for Profitability: Increased demand for energy-efficient upgrades and new installations.
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• Stat: Window and door installers charge between $150 and $700 per installation.
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• Link Source - Market Research Reports

Ultimately, the best home service business to start right now may not always be the most profitable, but the one that fits your vision and lifestyle while also filling a geolocational need.

Do your research into the local competition and where you can potentially fit into before making any decisions on getting into a business.

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