What Is The Most Profitable And Popular Business I Can Start?


5 Answers

Michael Lai Profile
Michael Lai answered
The answer depends on the amount of capital you have, and the amount of management you would like to be invovled in. There are lots of proven systems out there, but the biggest factor really is the amount of money you have (or can afford to borrow). So in order of price:

Buy an existing business - lots of research required (like buying a house or car), but lots of issues to consider

Buy a franchise - proven system, usually focused on food, retail or service. Other things to think about are locations, staffing and management.

Start your own business - if you have an idea, have done some market research and are prepared to go through and develop a business plan. Prices varies depending on if you are opening a store, acting as middle man, or running an online business.

Online business models - popularised by eBay and PayPal, these and other companies provide a model and platform for doing online business, which has the lowest costs, and the widest market, but competition and business idea are the key issues to overcome.

Many websites offer Home businesses, which usually involves multilevel marketing or similar schemes. I can't comment too much on these.

If you have considered all these issues, you will work out what will be the most profitable type of business for you.
Kevin Louis Profile
Kevin Louis answered

"Recruitment agency" also has been promising business. To start a recruitment agency you just need few capitals and few high potential clients. This business is not that tough as compared to other business. I found this link which explains how to start an HR consultancy. See here.

Also, I found a book which might be helpful to the people to know them about the HR business and how to start a HR business.  This book is a step by step guide for entrepreneurs who plan to start their own HR recruitment and Consulting business. Also, the book describes the need of HR recruitment firm and its benefits for the employers and job seekers. It also provide an insight into the inner working of the consultancy and how to tackle the problems that can be associated with the business.

Source: How To Start An HR Consultancy Company?

Derek Alvarez Profile
Derek Alvarez , President, CEO of Ezlifegadgets.com. Gadgets that make your life easier!, answered

Starting an online store can usually be very profitable.  The reason is because you don't have the high overhead costs of property and other things that retail businesses do.  You want to find a product that has a low cost to you but a medium to high cost to your customer.  This creates high margins and makes for good profit.  Find a good wholesaler and find products that people need and are willing to buy.

Chips Ters Profile
Chips Ters answered

In my opinion, the most profitable business has always been a real estate business. People always need to live somewhere and always want to expand their apartments, so this business is only gaining momentum and financial volumes. In Israel, we have special companies like this https://auditing.co.il/en/bookkeeping-services/business-in-israel-for-foreigners/ that specialize in opening any business, even for foreigners. It is better to contact such companies immediately, so as not to do something wrong and then pay double for correcting these errors.

Anonymous Profile
Anonymous answered
The health care industry has always been promising. Despite the economic downturn, small and large businesses in the healthcare industry are doing just fine. Especially, businesses in the long term industry are growing to meet the health and supportive needs of the aging population in the country. Capitalizing on the shortage of health care professionals and nurses has also become a trend in the industry. Businesses are using creative ways to recruit healthcare professionals locally and internationally for organizations that are running short of quality skills and talent in the health care industry.
Industry experts report the health care industry will continue to grow for the next 15 years. It also appears the market share is promising and the income potential is also good.

In short businesses such as non medical home care, home health, assisted living, elder care services, senior support services, services for the disabled, medical staffing, health care consulting firms are profitable and popular businesses to start.
Sources; www.medicalstaffingmanuals.com www.bls.gov

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