- March 29, 2020
- Posted by: AH Sagar
- Category: Business
If you are tired of others taking money from your job, it may be time for you to think about starting a business by your own. But which are the profitable businesses that generate more profits?
We have prepared a detailed study of those sectors that generate the most money; some of these profitable business ideas require a minimum investment, while others require more capital, but what is certain is that if you are thinking about starting, these may be the best businesses to start with to ensure success.
Top 10 profitable businesses with the highest profit margin
1. Accounting services
This industry takes first place with quite good profit margins (approximately 20%) because accounting services are always in high demand.
The functions of this profitable business are usually to keep the accounting books of companies, their taxes, but also to attend private clients for income statements.
The cost of the equipment and materials to create this company is usually very low, so this can be a great business opportunity if you are an accounting professional or if you hire someone who specializes in it.
2. Legal services
Like accounting, legal services are successful businesses because of the constant demand from both large and small companies. Nor does it require expensive office supplies, although you do need to have a law degree or hire a legal professional.
3. Oil and gas extraction
Oil is an especially profitable industry in Venezuela (there is more quantity of crude oil in Venezuelan underground than in that of Saudi Arabia). It is undoubtedly the best business to establish an industry, but it is also true that starting it requires a huge investment.
4. Rent of equipment and industrial machinery
Whether or not there is a crisis, the works continue to exist, either in the form of construction of new buildings, or a simple reform of a house. Although it is true that today many construction companies prefer to rent machinery than to buy it. This is how many businesses have emerged where, instead of selling excavators or cranes, they rent them.
If you don’t have enough money for it, you can apply for one of the business loans that exist, and start an easy-to-run profitable business.
5. Dental consultations
Everyone, at least once or twice a year, goes to the dentist, right? Not counting those people who need treatments such as braces or orthodontics where their visits increase to once every month.
That is why this is another of the sectors in constant demand that, thanks to the proliferation of insurance that covers the dental service, sees its number of clients grow more and more every day.
6. Private clinics
Like dentists, everyone needs to see a doctor; and private clinics are increasing more and more due to the decrease in the prices of their services and the short waiting time in them.
The investment here is also great because you need a suitable place, several specialist doctors, and some expensive medical devices, but if you know how to set it up well, it is a profitable business with assured success.
7. Real estate agent
The real estate agents have benefited in recent years from the large number of people looking for apartments or houses not for purchase, but for rent. And creating a real estate agency can get you out for a minimal price.
You just need a small place or office and someone to design a website for you to reach more customers. Best of all, you don’t need specific studies: just social skills to treat clients and good looks.
8. Financial broker
With the recent crisis, many people with small amounts saved are looking for brokers to help them increase, even just a little, their savings, and this is why investors have seen increasing demand in their professions.
You won’t need a lot of office supplies here either, but you do need to understand the financial world and how it works to make this a profitable business.
9. Death services
What to say about this industry: people, unfortunately, die every day. And that’s what makes this one of the most profitable successful businesses.
There is little more to say about starting a company of this type: the investment required is not very large, but you will have to look for providers of caskets, funeral cars, flowers, and burial services (paperwork management, etc.).
10. Private schools and private classes
People always want to learn something new: either as fun, to improve some personal skill, or to increase our curriculum and thus improve the job position. And that’s why private schools or private lessons have become big business.
You can rent or buy a place, and create an adult, language, music, dance school, whatever. Or start giving private lessons in your own home or in the homes of your students. Be that as it may, this is one of the best businesses that exists due to the wide variety of options it has.
These are the best options we have found for you. However, starting any business is not an easy task. It may require little or a lot of investment, but the truth is that it never hurts to rely on other methods to earn money during the process of creating your new company.
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