Do you know the most profitable businesses little known to small business people?
Generally, people have a mentality that the most profitable businesses are media, technology, or Internet-based companies like Google or Yahoo! It’s true, and I don’t intend to refute. However, they are widely known to everyone!
Today, I will inform you about the most profitable businesses, and little known to people, that you can start and make yourself a fortune. Here they are…
1. Equipment Leasing
Entrepreneur.com defines equipment leasing as:
“Obtaining the use of machinery, vehicles or other equipment on a rental basis. This avoids the need to invest capital in equipment. Ownership rests in the hands of the financial institution or leasing company, while the business has the actual use of it.”
The increased use of computers and auspicious treatment of off-balance sheet transactions in the last three decades has fueled growth this rewarding business.
The Equipment Leasing and Finance Association survey revealed that almost 80% of U.S. companies lease some or all of their equipment.
Some of the magnates in this business are Saul P. Steinberg, Ned Mundell, Peter Redfield and Gary Friedman.
2. Construction Business
Real estate development projects have fueled increase of construction activities. Small business people can set up construction companies and bid for small projects to start with. As time progresses, the company can diversify its service portfolio by hiring more skilled construction engineers and buying or leasing and sophisticated construction equipment. You bear me witness that established construction companies make millions in revenue each year.
3. Contract Work for Federal Government
The federal government contracts individuals or businesses to complete its projects. Some may argue that the contracts are sometimes not awarded fairly due to nepotism and individualism.
These federal contracts are worth millions of dollars. I once heard of a firm that won an FBI contract worth $450 million. Now that is a lot of revenue for a small business.
4. Baby Care Business
Ten years back, baby care business was not that popular as it is today. The modern culture and circumstance are major boosts to this business. Working parents are opting to enroll their kids in a baby day care instead of hiring nannies to look after them.
The business is lucrative because the operating costs like advertising and rent are relatively low.
Babycare Ltd, started by Mathews in China, recorded more than $450 million in revenue a year in 2005. Later in 2010, it was purchased by USANA Sciences for approximately $62.7 million.
5. Hazardous Waste/ Bio-hazard waste Removal
The major reason why this business is very lucrative is because of the dangers involved. The low numbers of qualified personnel drives the costs of hazardous waste removal up. If you are an aspiring small business entrepreneur, this is a very good opportunity.
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