These are the Top 25 Self-Employed Careers

These are the Top 25 Self-Employed Careers
The gig economy is growing. For example, independent professionals are projected to make up 60% of the workforce by 2027. What’s more, 96% of self-employed professionals don’t want to return to a regular job.

As a result, if you’re thinking about ditching your 9-to-5 grind to start your own business, this might be the right time for doing so.

MagnifyMoney has conducted a study compiling 25 occupations where you can be your own boss.

As a result, you can now choose from a number of top self-employed careers for your new business. For example, food service managers, construction managers and real estate agents.

Key Findings

According to the MagnifyMoney study, becoming a food service manager is the top occupation for those seeking a self-employed career. For example, around 37.6 % of food service managers are self-employed. What’s more, a food service manager typically receives $54,240 annually. This can be a decent income for a job that doesn’t require a college degree.

Construction managers come second on the list. For example, 39.8% of construction managers are self-employed. And they earn an average of $93,370 annually. You will need a bachelor’s degree to start working as a construction manager.

A real estate agent is the third top job for self-employed people. For example, 56.4% of real estate agents are self-employed with average annual earnings of $48,690.

Following is the complete list of the 25 most popular careers for becoming self-employed. As a result, these may be the kinds of careers you wish to build your next business on:

  1. Food service managers
  2. Construction managers
  3. Real estate sales agents
  4. Managers, all other
  5. Massage therapists
  6. Clinical, counseling and school psychologists
  7. Taxi drivers and chauffeurs
  8. Construction laborers
  9. Management analysts
  10. Carpenters
  11. Interpreters and translators
  12. Landscaping and groundskeeping workers
  13. Veterinarians
  14. Plumbers, pipefitters and steamfitters
  15. Substance abuse, behavioral disorder and mental health counselors
  16. First-line supervisors of landscaping, lawn service and groundskeeping workers
  17. Nonfarm animal caretakers
  18. Lawyers
  19. Web developers
  20. First-line supervisors of construction trades and extraction workers
  21. Coaches and scouts
  22. Medical and health services managers
  23. First-line supervisors of personal service workers
  24. Financial managers
  25. Manicurists and pedicurists

How MagnifyMoney Prepared the List

When choosing a self-employed career, pick the occupation that already has plenty of self-employed people. You also want to make sure that the occupation you plunge into not only gives you good wages. It should also ensure that your wages will grow with time.

MagnifyMoney included 579 occupations and compares the data pulled from the US Bureau of Labor Statistics (BLS) to prepare the list. As a result, it looked at the following metrics:

  • Percentage of workers who are self-employed in the given occupation
  • Estimated employment change (%) 2018-2028
  • Projected annual occupational openings 2018-2028
  • Percentage change in estimated employment change 2018 to 2028
  • 2018 median earnings
  • Percent change in earnings 2017 to 2018
  • Education needed

To prepare the final list, MargifyMoney first ranked each profession using the above metrics including education required. Then, the company calculated the average ranking for each occupation across the six metrics, giving double weight to the percentage of workers who are self-employed in their given occupation. Next, it used the average ranking to assign a score to each occupation. Occupation with high scores ranked on the top.

Though MagnifyMoney looked at the education required for occupations, it didn’t use it to create the ranking.

How to Grow Your Self-Employed Business

You have picked an occupation to venture into. As a result, you should start making strategies to grow your self-employed business. You cannot succeed in your business without a proper plan.

For example, here are some tips to grow your self-employed business:

  • Know your target audience well
  • Focus on a specific problem your business solves
  • Highlight your expertise
  • Make a customer acquisition plan
  • Create a kickass marketing strategy

Additionally, you should start being active in your local communities. For example, you will want to connect with people at the local level. As a result, it helps you build a large business network. For example, you can explore opportunities to promote your business to local communities in local events.

For example, participating regularly in local chamber of commerce meetings helps build strong business relationships. As a result these meetings can fuel the growth of a business.

About MagnifyMoney

MagnifyMoney helps people lead financially healthy lives. For example, it provides its audience with free tools, calculators, and resources to answer their personal finance questions. Click here to know more about MagnifyMoney.

Image: Depositphotos.com

This article, "These are the Top 25 Self-Employed Careers" was first published on Small Business Trends



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