30 Best Businesses You Can Start With A Master’s Degree In 2022

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Pursuing entrepreneurial ventures and leaving the traditional 9-5 work setting involves a lot of risks, sacrifices, passion, and grit. Before leaving for good, you may have asked yourself the proverbial question “Is a master’s degree required for starting a business?” If you plan on becoming an entrepreneur, see the 30 best businesses you can start with a master’s degree!

Best Businesses With A Master's - fact

Consulting Agency

Starting a consulting agency is one of the popular businesses you can start with a master’s degree. Since more and more businesses are popping up, many budding entrepreneurs will require expert assistance to help them reach their target audience. As a business consultant, you can provide expertise, suggestions, best practices, and real-time tips on how each business can become more efficient, productive, and profitable.

Pursuing a master’s degree will provide holistic, up-to-date training and knowledge on the latest market trends. Given that consultants have relevant professional experiences in a particular field, they can help local business owners in resolving certain issues and challenges in their companies. Regardless of whether you’re a marketing expert, business expert, or advertising enthusiast, there will always be business owners who are willing to pay extra for your expertise.

Depending on your preferences, starting a consulting agency will require a specific niche, industry, and market. Here are some of the popular target niches you can start with:

  • Corporate
  • Engineering
  • Government
  • Healthcare
  • Information Technology
  • Law

Best Master’s Degree To Pursue:

  • Master of Business Administration
  • Master of Management
  • Depending on the target niche
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Counseling Center

With mental health becoming more widely accepted nowadays, many people have resorted to improving their mental well-being through counseling facilities. If you already have a master’s degree in any psychology-related program and have a deep passion for mental wellness, you can start a counseling center. Turn your expertise in the field into one of the profitable businesses you can start with a master’s degree.

A master’s degree in Psychology will provide graduates with the essential foundation they need to perform or conduct psychological assessments and research, improving their clients’ mental well-being. Instead of working in public or private practice, establishing your own counseling center will allow you to expand and hire other professionals in the field. You can also diversify your service by taking advantage of digitalization, offering 24/7 mental and behavioral health services for children and adults. It is one of the lucrative businesses you can venture into with a graduate credential. The Scranton Counseling Center, for instance, has an annual revenue of $17.5M and consists of different psychiatrists with their respective expertise.

Best Master’s Degree To Pursue:

  • Master of Arts/Master of Science in Marriage and Family Therapy
  • Master of Business Administration – Human Resource Management
  • Master’s Degree in Psychology
  • Master’s Degree in Social Work
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Tutoring Service

If you have a master’s degree in a particular education field, starting a tutoring service is one of the most profitable businesses you can start with a master’s degree. With the rise of distance learning, many students prefer online tutoring services for convenience. Whether a student is having difficulties with his or her math or science subject, you can offer your expertise in the subject even when you’re online. Depending on students’ preferences, tutors can either visit their client’s home, schedule an appointment for visiting your place, meet in the school’s library, or a coffee shop.

Like most business ventures, it is crucial to identify different factors, including pricing, subjects offered, type of students for your target market, and marketing plans. Since tutoring is an easy-to-start endeavor, you can start by accepting clients within your neighbors and circle of friends. Once you have already established and found momentum, you can hire additional tutors and expand your service to other academic support services. With a master’s degree and teaching license, it is an excellent time to pursue tutoring service and take advantage of digitalization in the academic sector.

For inspiration, Kaplan has an annual revenue worth $1.5B, providing individuals, businesses, universities, and colleges with a variety of training and educational services.

Best Master’s Degree To Pursue:

  • Master’s Degree in Education
  • Master’s Degree in Special Education
  • Master of Business Administration
  • Master’s In English Education
  • Master of Arts in Early Childhood Education
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I.T. Service and Consulting

A list of the best businesses that you can start with a master’s degree wouldn’t be complete without I.T. Service and Consulting business. Despite many people being tech-savvy nowadays, relying on tech support to resolve technical problems is still rampant. As more individuals and companies depend heavily on social media and the internet, mastery of hardware and software components is also equally important. The demand for I.T. services and consulting enterprises has significantly risen due to the boom of digitalization.

The majority of people aren’t techy enough when it comes to maintenance and setup, especially with troubleshooting. Many businesses also outsource their I.T. support to companies with more in-depth technical expertise about a particular service.

If you have a master’s degree in I.T. or any related discipline, you can start your business venture that involves helping individuals and companies find the best solutions to problems revolving around technology and innovation. With more than $30B annual revenue, I.T. Services and Consulting is one of the most lucrative-paying and profitable businesses you can start with a master’s degree.

Best Master’s Degree To Pursue:

  • Master of Business Administration
  • Master of Science in Computer Science
  • Master of Science in Data Science
  • Master of Science in Information Technology
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Daycare Center

Daycare centers are in demand nowadays since many busy parents can no longer effectively juggle between home and professional commitments. If you are passionate about being around children, you can start your own daycare center and help parents/guardians take care of them while they’re busy at work and other commitments. Pursuing a master’s degree in Education or Psychology is the best fit for this type of business since you’ll know the ins and outs of connecting with children. With the education and training you’ve earned, you’ll identify what age group you’re targeting, age-appropriate activities for children, and fun and educational programs for passing time.

With a Daycare Center business, you’re guaranteed of stable income and repeat clients. It’s also a diverse business idea, allowing you to start a daycare facility in your own home, at a rented space, or at a location established by third-party organizations that prefer having an in-house daycare center for convenience.

A daycare center is considered a big business initiative. The U.S. alone is home to more than 55,000 commercial spaces and 20,000+ non-profit-sponsored locations allocated for daycare facilities, generating more than $20B annual revenue.

Best Master’s Degree To Pursue:

  • Master of Business Administration
  • Master of Management
  • Master’s Degree in Education
  • Master’s Degree in Psychology
  • Master’s Degree in Social Work
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Dropshipping Business

Dropshipping is a $15B industry, making it one of the best businesses you can start with a master’s degree. Thanks to the wonders of the internet, new entrepreneurs can test a variety of business ideas with minimal risk. Through different tests, you’ll discover how to choose and effectively advertise in-demand products.

As an overview, dropshipping is the process of selling your products online through a third-party app. However, you don’t have to fulfill the order or stock your products. Instead, the order made by customers will be forwarded to retailers, wholesalers, or manufacturers who are responsible for delivering the orders to customers. Some of the best examples of dropshipping businesses include Amazon, eBay, Shopee, Shopify, Lazada, and AliExpress.

Completing a master’s degree in a business-related field will provide you with the expertise and training on how to effectively find profitable products. With a master’s degree, you will also discover how to market them successfully. If given the chance, one of your colleagues or professors will offer tips or guidance regarding best practices of dropshipping and how to succeed in this venture.

Best Master’s Degree To Pursue:

  • Master in eCommerce
  • Master of Finance
  • Master of Management
  • Master’s in Business Administration
  • Master’s in Project Management
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Engineering Firm

Pursuing a graduate degree in a particular Engineering field will boost your credentials, expertise, and professional network. If you prefer working on your own and starting an Engineering Firm, making the right industry connections is essential for your business. Networking is also important when it comes to attracting clients. With a master’s in Engineering program, students will have the opportunity to get to know the ins and outs of the industry and meet other people outside their network. Little did you know; they might encounter someone who has the same vision and may become a co-founder or investor.

Given that the Engineering field is a diverse industry, starting an Engineering Firm will let entrepreneurs hire other professionals outside their expertise. Another component is identifying the target market, evaluating the type of organization, business, or individuals who’ll need your services. Since infrastructures, establishments, and recreation facilities are emerging daily, Engineering Firms can generate more than $100B annual revenue, depending on the scope and length of experience in the industry. The industry also has a steady demand due to an increasing number of private investments in large-scale projects as well as non-residential and residential constructions.

Best Master’s Degree To Pursue:

  • Master’s in Civil Engineering
  • Master’s in Electrical Engineering
  • Master’s in Engineering
  • Master’s in Mechanical Engineering
  • Master’s in Engineering Management
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Cybersecurity Service

Since the world is getting more digitally connected, the increasing number of cyberattacks has threatened both individuals and organizations and hasn’t slowed down over the years. The 2018 Facebook Security Breach is one of the biggest cyberattacks that happened, affecting more than 50M accounts. Given that people and businesses are always connected online, anyone can be vulnerable to cyberattacks and malware. Both retail and online banking businesses are also drawn to services and apps that provide maximum security and confidentiality against cyber threats.

With everyone becoming more concerned and skeptical about doing businesses online, starting a cybersecurity service business is one of the best businesses you can start with a master’s degree. Many people are willing to pay premium services for peace of mind and confidentiality, making it a profitable business in the world of technology.

A graduate degree in any tech-related field will help students gain up-to-date trends in cybersecurity, new types of cyberthreats, best practices, and other essential knowledge. They will also gain new knowledge when it comes to different anti-virus software, tools, and safety practices.

Best Master’s Degree To Pursue:

  • Master of Science in Computer Science
  • Master of Science in Information Technology
  • Master of Science in Network Engineering
  • Master of Science in Computer Information Systems
  • Master of Science in Data Science and Management
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Elderly Care Facilities

The United States Census Bureau’s data has projected that the aging population will outnumber the youth in 2030. Even the recent increase of the elderly in the country is already a promising sign that building Elderly Care Facilities is one of the best businesses you can pursue with a master’s degree. It is a highly profitable business, especially for the elderly who depend on minimal government pensions or subsidiaries. Although a number of facilities are already available, you can still add to a growing list by putting up competitive pricing and edge.

To provide elderly care service, individuals must have a minimum of a master’s degree in the related field since it will require a set of higher credentials. Other credentials will include tax forms, business permits, training certificates, professional certification, and licenses. Entrepreneurs in this venture must determine the type of elderly care they intend to provide and other services. Regardless, setting up an elderly care facility include a genuine affection for the elderly as the primary component. Other elderly care basics must include knowledge in CPR, first aid, and a lot of common sense.

Best Master’s Degree To Pursue:

  • Master’s in Psychology
  • Master’s in Social Work
  • Masters in Health Administration
  • Master in Elderly Care Management
  • Master’s in Gerontology
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Law Firm

Similar to a consultancy business, a Law Firm is a profitable service-based business. From individuals to big corporations, legal services are highly needed. Pursuing graduate studies in Law will help students become proficient in a variety of law components, including arbitration, employment, real estate, copyrights, patents, corporate affairs, litigation, finance, and business. A Law Firm can be formed by one or a group of lawyers, engaging in the practice of the legal system. Law Firms also hire paralegals to assist them in their daily responsibilities and initiatives.

Completing graduate studies or law is crucial to start a law firm business since the complexity of the profession requires high-level and advanced knowledge of the justice system. Law students will also have the opportunity to meet with other people and establish a professional network.

When starting a Law Firm, individuals must first identify the type of partnership or arrangements with other law professionals. They include one of the following arrangements:

  • General Partnership
  • Limited Liability Company
  • Limited Liability Partnership
  • Professional Association
  • Professional Corporation
  • Sole Proprietorship

Best Master’s Degree To Pursue:

  • Master of Business Administration – Legal Studies
  • Master of Law
  • Master of Science in Political Science
  • Master of Studies in Law
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Virtual Assistant Service

With many business owners and organizations shifting to remote work, the demand for virtual assistants has increased in recent years. It is one of the most flexible and easy-to-start businesses that you can pursue with a master’s degree. Since many remote companies and business owners hire virtual assistants from anywhere in the world, starting a Virtual Assistant Service agency is a location-independent business. Unlike traditional businesses, hiring virtual assistants and outsourcing them to businesses doesn’t require a physical location. Since it is a location-independent business, you can manage it anytime, anywhere.

Your team of virtual assistants will be contracted workers that will provide a diverse range of services, including social media marketing, appointment scheduling, and bookkeeping. Virtual assistants can also be tasked to manage personal tasks, including managing work and personal schedules, booking flights and accommodations, or planning an itinerary.

Individuals with a graduate degree in management or a related field are proficient in the ins and outs of the business. Given they already have relevant work experience, business owners can easily identify the type of services offered, niche, and skillset required for every virtual assistant.

Best Master’s Degree To Pursue:

  • Master of Business Administration
  • Master of Finance
  • Master’s in Management
  • Master’s in Project Management
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Cleaning Service Business

The COVID-19 pandemic highlighted the importance of house and office cleaning and disinfecting, especially when an area tends to be crowded or if someone recently got infected. However, cleaning and disinfecting are often the most dreaded chore when someone doesn’t have the luxury of time. When it comes to disinfecting isolation rooms, hotels, sick rooms, houses, and other complex areas, it is easier to delegate the tasks to professionals.

While laundry services used to be the trend, a Cleaning Service Business is booming and highly desired. Many professionals with MBAs invest in this type of business since it is more comprehensive and highly desired by busy individuals. The education and training you’ve gained from a master’s degree will help you identify all the basics of starting a cleaning service business. To boost their credentials, graduates can also pursue one of the professional cleaning certifications offered by the American House Cleaners Association.

One of the initial steps in starting a cleaning service business is to identify the types of cleaning services you want to offer. They include one or more of the following:

  • Basic Cleaning
  • Deep Cleaning
  • Dishwashing
  • Disinfection
  • Home Renovation Cleaning
  • Laundry
  • Regular Cleaning

Best Master’s Degree To Pursue:

  • Master of Business Administration
  • Master of Management
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Remote Teaching

Almost all elementary schools, colleges, and universities are switching to distance learning compared to the previous years. Since many people are getting used to remote learning, remote teaching will become a growing trend. If you have a master’s degree in any major subject, pursuing a Remote Teaching business is one of the best businesses you can easily start without capital.

Remote Teaching can be a profitable business due to a growing niche of online courses and learning management platforms, making it easier to access course content anytime, anywhere. As part of revenue streams, you can sell recorded lessons, invites to live virtual classes, a set of customized lessons, and other relevant products.

Depending on your niche, you can also create a channel for all recorded content and monetize it. For example, YouTube is a popular platform where you can upload videos and educational content and reach your target audience easily.

Completing a graduate program will boost your credentials in the niche, indicating that you have invested in a teaching profession even before jumping into the remote teaching trend.

Best Master’s Degree To Pursue:

  • Master’s in Communication
  • Master’s in Education
  • Master’s in English
  • Master’s in Fine Arts
  • Master’s in Mathematics
  • Master’s in Science
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Cloud Migration Service

In the age of digitalization, many business and service providers are switching to the cloud. According to Deloitte Insights, approximately 90% of global enterprises will depend on cloud computing by 2022. If you have a knack for innovation and automation, a Cloud Migration Service is one of the best businesses you can pursue.

Cloud migration refers to the process of switching all resources to digital assets, including IT resources, data, workloads, and anything that can be migrated to cloud servers. With a graduate degree in I.T., you will know the benefits, processes, and methods of the latest cloud computing services. It also helps you get the latest developments and infrastructures when it comes to offering cloud migration services to businesses and clients.

With cloud migration, organizations can store their data without the risk of non-compliance and security vulnerabilities. Employees can also access their workloads securely without getting compromised by cyber threats. Whether small or big businesses, cloud migration offers secure storage and integration, remote collaboration, and cost-effective, automated, and scalable solutions.

Best Master’s Degree To Pursue:

  • Master of Science in Computer Science
  • Master of Science in Information Technology
  • Master of Science in Network Engineering
  • Master of Science in Computer Information Systems
  • Master of Science in Data Science and Management
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Accounting/Bookkeeping Firm

Accounting and Bookkeeping Firms have important roles in every business, making them unavoidable in all types of financial transactions. However, many business owners don’t have the expertise in money management and other finance-related activities. If you are a CPA and have a master’s degree in accounting or a related field, starting an accounting or bookkeeping firm is one of the best businesses you can venture into.

Accounting professionals are highly desired in keeping business owners’ finances on track and recorded. The education and training you’ve gained from your graduate degree will help you become knowledgeable in payroll service, tax preparation, accounting, and bookkeeping. You can also hire other accountants and bookkeepers to help you grow and reach more clients needing accounting services.

Bookkeepers can process payroll and invoices, keep a record of financial reports, and perform other related tasks. For bookkeepers with a CPA license, you can also help in generating balance sheets, filing taxes for business owners, and other accounting reports. Some bookkeepers also offer professional recommendations about their clients’ needs.

Best Master’s Degree To Pursue:

  • Master of Accounting
  • Master of Business Administration
  • Master of Finance
  • Master of Management
  • Master’s in Law – Taxation, and Accounting
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Online Courses

Selling Online Courses can be a profitable business, especially if you have in-depth expertise in a particular field of discipline. Since many people are now accustomed to distance learning, they prefer accessing online courses anytime, anywhere. From solving mathematical equations to writing an effective cover letter, online courses can cover a lot of niching possibilities. Do you have an innate passion for learning a different language? Have you mastered a specific type of cooking skill? You can monetize your skills by selling online courses. You would be surprised at the number of individuals willing to pay extra just to learn more about the topic they love.

Everything that you have learned from your graduate degree can be translated into a form of an online course. If you prefer a more practical strategy, you can be inspired by what Helm Publishing is doing in this type of business. The company offers self-study courses accompanied by textbooks and assessments so self-learners can complete their courses at their own pace and schedule. Each course is also targeted at a specific niche and target market.

Best Master’s Degree To Pursue:

  • Master of Accounting
  • Master of Business Administration
  • Master of Finance
  • Master of Management
  • Master of Science in Computer Science
  • Master of Science in Information Technology
  • Master’s in Communication
  • Master’s in Education
  • Master’s in English
  • Master’s in Fine Arts
  • Master’s in Law – Taxation, and Accounting
  • Master’s in Mathematics
  • Master’s in Science
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Social Media Management

Since most people have at least one social media account, businesses must keep up with the trend. As cliché as it goes, many entrepreneurs believe that if their business isn’t online, they are losing potential revenues. While it’s more straightforward to make inquiries via social media accounts, every business must strive to establish its social media presence. Although most entrepreneurs know the basics of how to engage with clients through their Facebook or Instagram pages, a few have mastered the art of effective social media management. For businesses with multiple social media accounts, it can be challenging to develop and implement effective social media marketing.

If you are proficient in utilizing a variety of social media tools and platforms, you can transform your social media expertise into your own business venture. Some graduate programs integrate the importance of social media when starting entrepreneurial ventures. Networking-wise, pursuing a graduate study will also help you find the right people who can help in your social media management business.

Best Master’s Degree To Pursue:

  • Depending on the type of niche
  • Master of Business Administration
  • Master of Management
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Interior Design Consultancy

Interior Design Consultants share their knowledge with different clients when it comes to designing and decorating spaces at home, offices, restaurants, coffee shops, and other establishments. A master’s program will allow students to specialize in different aspects of interior design consultancy services. As Interior Design Consultants, you must be highly proficient in using computer-aided drafting (CAD) apps and have high levels of creativity and thinking outside the box. With this type of business, you can also hire other interior designers and collaborate with designing and developing effective blueprints. An interior design consultancy involves a lot of meetings with potential clients, developing blueprints and schematic floor plans. They also require comprehensive specifications of materials, budget, products, and revisions until the desired plan is achieved.

Completing a master’s degree in Interior Design can help boost your professional credentials. Graduates can also improve their expertise and skills that they can use in their interior design profession. Their graduate studies also provide them with the option to specialize in a particular interior design field, including designing historic establishments, spatial theories, retail design, and merchandising. A specialization can allow entrepreneurs to market their interior design consulting business more easily and attract more clients.

Best Master’s Degree To Pursue:

  • Any type of creative degree program at the master’s level
  • Master of Fine Arts in Interior Design
  • Master of Interior Design
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Web Development Agency

One of the most popular business startups is a Web Development Agency. It is a service-based business specializing in serving businesses and individuals who require custom websites for their companies, portfolios, and business ventures. They cater to a diverse range of clients, including solo entrepreneurs, non-profit organizations, small to medium-sized companies, and big corporations. A web development agency consists of a diverse group of professionals who are skilled in different aspects of web designing, including marketing, coding, graphic designing, testing, and content writing. Depending on your preference, web development agencies can also overlap with designing print media and other types of visual publication.

Entrepreneurs with a master’s degree in business and tech fields are more knowledgeable in developing well-designed apps and websites. They help create effective websites for profitable marketing campaigns. A graduate program will also provide a holistic overview of all web development aspects from planning to developing and releasing the final product to clients. The curriculum may also include the latest design concepts, styles, user interface themes, and other design elements.

Best Master’s Degree To Pursue:

  • Master of Business Administration
  • Master of Fine Arts in Graphic Design
  • Master of Science in Computer Information Systems
  • Master of Science in Computer Science
  • Master of Science in Information Technology
  • Master of Software Engineering
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eBook Writing/Publishing

Even before the age of digitalization, eBooks have already been existing primarily for education and self-help. Nowadays, everything can be converted into eBooks, ranging from personal wellness to cookbooks to fiction and beyond. If you have a penchant for writing and with a master’s degree, starting an eBook Writing/Publishing business is an excellent option for you. Since eBook writing is a diverse niche, business owners must evaluate the type of niche and target audience.  

Enrolling in a master’s program in any writing-related discipline will align you with the right knowledge and skill set, turning your expertise into a downloadable eBook. Depending on your niche, you can create an eBook that targets those who want to start their own business, progress in their careers, start a new hobby, improve their writing skills, and boost their communication skills. The niche possibilities are definitely endless.

Ensure that you have chosen a highly marketable topic and start building a target market. After publishing your eBooks, find a suitable platform for marketing and reaching your target audience. A personal website, social media, email marketing are essential to make your presence known or drive traffic for potential sales. Otherwise, you can use third-party services like Amazon as a starting point.

Best Master’s Degree To Pursue:

  • Master of Fine Arts in Creative Writing
  • Master’s in Communication
  • Master’s in English
  • Master’s in English Literature
  • Master’s in Journalism
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Multimedia Production Company

Multimedia Production refers to any type of production that utilizes different visual elements to portray a story, including graphics, audio, texts, photos, and short clips. If you have a knack for creative pursuits and love to tell different kinds of stories, establishing a multimedia production company is one of the best businesses for this niche. Depending on the type of story and purpose, multimedia production companies can work with different businesses and clients. They can collaborate with clients requiring narration of stories for describing events, selling their products and services, academic purposes, and artistic ventures.

Regardless of a multimedia project or initiative, the whole multimedia production team requires different skills and creative abilities. A multimedia production team consists of webmasters, graphic designers, production managers, directors, cinematographers, scriptwriters, animators, and project managers. With a graduate degree, you can easily find these professionals and establish your network. Completing graduate studies will also help you hone your creative abilities with the latest developments in multimedia. The graduate program will also broaden your scope of portraying the message by discovering other mediums of expression, including illustrating, motion graphics, and animation.

Best Master’s Degree To Pursue:

  • Master of Fine Arts in Cinematography
  • Master of Fine Arts in Film
  • Master of Project Management
  • Master’s in Animation
  • Master’s in Motion Picture
  • Master’s in Photography
  • Master’s in Scriptwriting
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Coaching Service

If you have the natural talent for building relationships with people and are highly knowledgeable in a particular interest, you should consider starting a Coaching Service. As a life coach, you can effectively work with clients dealing with challenges in specific areas of their lives. The niche may include career development, personal wellness, job hunting, and relationships.

Although it is not necessarily an alternative to professional counseling, life coaching can help make a difference in the well-being of clients. Pursuing graduate studies will provide you with the reputation and credentials as effective life coaches since some clients are particular when it comes to the quality of services they’re paying. The program can also help you with determining coaching techniques, developing a plan of action tailored to every individual, evaluating clients’ needs and goals, and finding effective solutions to obstacles.

To thrive in a life coaching business, start with a website that displays what type of services you’re offering. Starting a community will also help build trust between your potential and existing clients, allowing community members to learn from one another along their journey.

Best Master’s Degree To Pursue:

  • Any master’s degree program that will depend on target niche
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Mobile Food Truck Owner

Becoming a Mobile Food Truck Owner is a creative venture for food entrepreneurs and career shifters. If you have a graduate degree in a completely different field and have a passion for cooking, starting your mobile food truck business is an excellent start. With an extremely volatile market and unexpected restrictions, the food truck industry has grown significantly in 2020. Many individuals have also been laid off due to the economic challenges brought by the COVID-19 pandemic. Some of these employees have started their food business, showcasing their culinary skills.

For individuals who love creating something new and adding a creative twist to menus, pursuing a food truck business has the same business concept as a traditional restaurant. However, food truck businesses are more mobile and cheaper. You can bring your food truck anywhere to events and places where you can meet and cater to hungry customers.

Graduates with a master’s in culinary management or a related field will have the opportunity to learn how to thrive with sudden changes in the industry. They will develop strong organizational and managerial skills, including how to deal with periods of decline and stagnation as well as peaks of the business.

Best Master’s Degree To Pursue:

  • Master of Business Administration – Hospitality Management
  • Master of Arts in Culinary Business Management
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Construction Firm

Another highly diverse and lucrative business is a Construction Firm. Although it will take effort, grit, and patience to set up your own construction firm, the rewards are worth it. Since different types of construction work continue to rise, working in the construction field offers stable career opportunities, competitive pay, and a flexible working environment. Apart from the financial perks, establishing a construction firm will help generate new jobs for construction workers. It also gives you the freedom to work on your own schedule.

Completing a master’s program in construction management will provide graduates with the latest developments and innovations in the industry. They will learn how to leverage processes and technologies to thrive in the construction industry. As part of the curriculum, the graduate program will also prepare individuals for leadership roles within the field, making it an ideal graduate credential for anyone wanting to pursue a construction firm business. The program can also be an excellent starting point for graduates with little experience and wanting to venture into the construction industry. Students with engineering, business, and architecture background can also easily thrive in this graduate program.

Best Master’s Degree To Pursue:

  • Master of Architecture
  • Master of Civil Engineering
  • Master of Construction Management
  • Master of Engineering
  • Master of Engineering Management
  • Master of Mechanical Engineering
  • Master of Project Management
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Rehabilitation Center

Although many counseling centers already have drug and alcohol programs for clients, starting a Rehabilitation Center is another business in the field of psychology. However, it primarily offers extensive professional counseling and treatment for addiction and substance abuse. A variety of rehabilitation centers have individual and group counseling sessions facilitated by a professional therapist, addressing the needs of victims of chemical dependency and substance abuse. Individual sessions are also offered for adolescent and adult clients. Depending on the rehab facility, clients can avail of treatment plans, outpatient, and intensive outpatient services.

Since the demand for clinical mental health services and rehabilitation has grown in recent years, starting a Rehabilitation Center is one of the best businesses you can start with a master’s degree. With a graduate program, students will become proficient in performing a variety of therapeutic interventions for their clients, including creative art therapy, mindfulness, individual, group & family counseling, training, cognitive behavioral therapy, and prevention education.

Best Master’s Degree To Pursue:

  • Master of Science in Rehabilitation and Mental Health
  • Master of Science in Rehabilitation Science
  • Master’s in Psychology
  • Master’s in Rehabilitation Counseling
  • Master’s in Social Work
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Telemedicine Service

The healthcare industry didn’t get spared when digitalization revolutionized the way people do business. In 2020, telemedicine services became more popular due to the safety, convenience, and flexibility it offers compared to traditional health services. Since it is a new niche, a Telemedicine Service is one of the best businesses you can start with a master’s degree. It is a great investment opportunity that lets you easily reach a rapidly increasing target audience with diverse needs. Many users can easily switch to more advanced and cheaper solutions to accessing healthcare services.

A telehealth business requires a lot of research, knowledge, and regulations in different aspects of healthcare, business, software development, and law. Pursuing graduate studies in the field of healthcare and management is an excellent starting point. The program will help you launch a telemedicine business legally, allowing you to identify the different federal and state regulations concerning telemedicine practice. If you have an MBA program, you will have the expertise on how to build business models, pricing strategies, and ideal platforms.

Best Master’s Degree To Pursue:

  • Master of Business Administration
  • Master’s in Project Management
  • Any graduate degree in the field of medicine
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Graphic Design Studio

Similar to multimedia production companies, a Graphic Design Studio or Agency is a suitable business venture for creative pursuits and talents. However, this type of business primarily emphasizes still images and print ads. Many business owners have already established their presence on a variety of social media platforms. Regardless of whether it is a small or big business, the importance of having high-quality, sleek, and polished images is highly regarded by clients. A steady workload of graphic design work is common, especially if you’re advertising your business to a larger audience on different platforms.

Although anyone can start a business in graphic design, further studies will help students gain the latest practices and elements of graphic design. A variety of design classes will also develop their skills and vision for good and effective branding. It will also help you find other professionals in the industry who can be vital in starting your own studio. Since it is also a rapidly evolving field, graphic designers also become updated with new apps and tools for effective design.

Best Master’s Degree To Pursue:

  • Master of Architecture
  • Master of Business Administration
  • Master of Fine Arts
  • Master of Graphic Design
  • Master of Interior Design
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Tea/Coffee Shop

If you’re keen to start a business venture in the food and beverage industry, chasing your quaint coffee shop dreams is an excellent endeavor. While many coffee shops are already major players in the industry, don’t be discouraged to take a leap of faith. Many industry professionals have left their traditional 9-5 work to pursue their dreams of owning a coffee shop.

If you are serious about taking your coffee shop dreams to the next level, the University of California, Davis offers a Master’s in Coffee Science program. It is a multidisciplinary program offering a variety of essential courses, including coffee agronomy, consumer behavior, engineering principles of brewing, and sensory analysis.

While some professionals have pursued industry-specific, professional training, others are completing graduate studies in business. Instead of working as a barista or coffee enthusiast, they have outsourced or partnered with potential investors to launch their business proposals.

Best Master’s Degree To Pursue:

  • Master of Arts in Culinary Business Management
  • Master of Business Administration – Hospitality Management
  • Master’s Degree in Coffee Science
  • Master’s in Management
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Arts & Craft Business

Arts & Craft Business is ideal for individuals wanting to turn their hobbies into a full-time business. With the help of your innate creative talents and business management skills, you can easily sell a variety of art pieces to potential customers. If you want the best of both worlds as a crafter and artist, starting a retail business is a profitable venture. Retail businesses may include an art boutique, online shop, craft store, gallery, and arts & craft supplies. As an art supplier, you can easily create handmade masterpieces, items, souvenirs, and other works of art and sell them on the retail store itself, art galleries, or online.

Best Master’s Degree To Pursue:

  • Any Master of Fine Arts specialization
  • Master of Business Administration
  • Master of Fine Arts in Painting
  • Master of Fine Arts in Sculpting
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Architectural Firm

If you love being an entrepreneur instead of working for a company and with a graduate degree in Architecture, launching your own Architectural Firm is one of the ideal businesses you can pursue. It is a service-based business specializing in offering architectural services to a variety of clients. This type of business also provides a variety of design services, including architectural drafts, drawings, and structural blueprints. The majority of architectural firms also include services for other fields, including civil, electrical, and mechanical engineering, plumbing, and structural design. Architectural firms also hire in-house staff and contractors for performing construction works.

Given that a master’s program is required in the practice of the profession, many architects start their own firms after working for private or government companies for a while. These professionals work with different groups of people and effectively communicate with others to avoid costly mistakes. Pursuing an architecture firm will include highly-skilled employees with different areas of expertise, including recreational facilities, renovation works, and non-residential and residential establishments.

Best Master’s Degree To Pursue:

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So, Is A Master’s Really Necessary for Starting a Business?

While many people find it unnecessary, many graduates believe that having an educational background will become a concrete foundation for future endeavors. Some people assume that having undergraduate degrees is enough to specialize in one aspect of entrepreneurship. However, it isn’t always the trend. According to Research.com, the enrollment of students pursuing master’s degrees has increased by 5.2%. The statistics indicate that many students eventually consider a master’s degree to become more proficient and stay relevant in the industry. It clearly explains why a majority of business owners have MBAs as the popular option.

Regardless of students’ baccalaureate degrees, their master’s degree may be considered the icing on the cake. Enrolling in a Master of Management program, for instance, will educate and prepare students in all aspects of the business so they are ready and knowledgeable for the daily challenges of being a business owner. A master’s degree will also help boost your credentials and reputation as an entrepreneur.

Since business trends and technology rapidly evolve, people often forget the significance of staying relevant and updated living in the digital era. With increasing innovations, pursuing a master’s degree like a Master of Business Administration will help you discover new trends and business practices that can apply to modern businesses.

By completing a master’s degree, students will have the opportunity to meet like-minded people and establish a professional network that will become beneficial in the future. Many of your colleagues are already working in higher positions, with professional experience in a variety of industries. Gaining professional contacts and trust is advantageous when meeting potential clients and stakeholders for your future business. The peers, instructors, and industry experts you’ve met while completing a master’s program are also equally important to help you connect with the right people for your business ideas.

Increased digitalization has also made it easier and more feasible to pursue profitable businesses with a master’s degree. A variety of business ideas that fall within the field of consultancy, B2B services, mobility, healthcare, technology, and engineering are becoming more and more prevalent.

Some individuals venture into starting their own business, with the type of business they want to pursue and the industry they will conquer. However, many budding entrepreneurs may find it challenging to find their niche and how to start their business aspirations. It is tough to find the perfect industry and niche market.

Dr. Jared Goff
Chief Editor