Top 5 Most Profitable Business Sectors and Services in 2023

Photography is not just a hobby or artistic passion; it can also be one of the quickest ways to wealth if you're unsure what business to start. With an investment in a camera, some tools, and time to edit photos, you can start your business. You don’t need expensive equipment or expensive courses—if you know how to 'tell a story' through your photos, you can succeed in this industry with a forward-thinking mindset.

Product photography and video production for advertising are essential in introducing and marketing products. To effectively reach a larger customer base, high-quality, professional photography and video production are crucial. Each beautiful image or video captures the essence of the product, creating customer interest—something every business or company desires.

While online fashion retail is no longer a new concept, it remains a strong trend in 2023 and can still generate solid profits if done right. Success in this business relies on three key factors: Market, Suppliers, and Business Experience.

Start by identifying a niche market. Only then can you choose products that are both suitable and have potential. Avoid selling products based on impulse—what you like may not necessarily align with market demand. A crucial step is sourcing quality clothing, whether domestically or internationally. If your inventory is similar to low-quality, mass-market items, customers are likely to shop at markets where they can haggle, touch the items, and try them on. Therefore, your products must be of high quality and stand out from the common market.

According to various local studies on mental health, about 87% of children surveyed suffer from some form of psychological condition. Among these, 22.8% experience depression, 23.7% have suicidal thoughts, 10.4% deal with mental health issues, 4% are affected by autism, and 2.5% suffer from anxiety. This means that in Vietnam, there are at least three million adolescents with psychological or mental health issues, but only about 20% receive the necessary medical support and treatment.

Depression is the second leading cause of death worldwide, following cardiovascular diseases, according to estimates from the World Health Organization (WHO) as of 2023. Despite the psychological counseling sector in Vietnam being relatively underdeveloped in recent years, the growing trend of mental health issues, particularly among youth, makes psychological counseling an innovative and highly necessary business idea that aligns with current market demands.

Health and nutrition consulting services are expected to see significant growth this year and in the future. While this sector remains relatively new in Vietnam, people are increasingly interested in taking care of their health and improving their nutritional habits. However, many still lack awareness of the foods they consume daily or how to maintain a healthy exercise routine.

Nutrition is the foundation of life. A balanced diet supports healthy growth and development. However, each individual has unique nutritional needs based on their age, health condition, and gender. Therefore, becoming a health and nutrition consultant who can tailor dietary and exercise plans to individual needs is not just a hot business trend in 2023, but a growing demand for the years to come.

Research shows that 23% of online time is spent reading content, meaning that if someone spends 5 hours a day online, they will spend around 60 minutes engaging with written material. As a result, content has become highly valued, not just in marketing but also in the SEO industry, where quality content is considered crucial. If you have a knack for writing and creating engaging content, launching a content writing service can be a low-cost business idea that allows you to break into the market and succeed.

Additionally, content writing comes in various levels and price ranges. If your writing skills are at a basic level, you can start with SEO articles priced from 50,000 VND for a 500-word piece. If you're more creative and can come up with innovative ideas, you could write PR articles, viral scripts, or sales copy, where prices typically range from a few hundred thousand to several million VND. Therefore, content writing is expected to be a popular business trend in 2023.