The business that makes the most money

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The business that makes the most money

If you are wondering what business makes the most money, the answer may surprise you. Many people assume that the businesses making the most money must be industries like oil, banking, or construction, and while those types of businesses do make millions every year, they are not necessarily the best money-makers around. In fact, many of the businesses that make the most money worldwide don’t actually have anything to do with the products they sell; they just have interesting business models that allow them to generate big profits. Here are a few examples of these types of businesses…

Payday Loans

A common misconception of payday loans is that they’re not really loans, but rather rent-to-own agreements and you can see why people would believe such a thing. After all, it does seem strange for someone to hand over cash in exchange for nothing but a promise to pay them back on time with interest.

Credit Cards

If you’re asking how to make money quickly, many people’s first response is to open a credit card. The cash advance fee alone will give you your capital, and if you repay with minimum payments, it may take years to pay off. If you don’t qualify for a credit card, or can’t commit to making timely payments on one, you might want to consider alternative methods of fast cash.

Pizza Delivery

While it’s a well-known fact that pizza is delicious, many people don’t know how lucrative a pizza delivery service can be. Pizza delivery jobs generally pay more than other types of entry-level positions, such as working in retail or fast food. A friend of mine who started her own pizza delivery company when she was only 14 told me she made about $70 an hour in profit for her hard work. That’s around $14k per year for part-time work!

All Other Restaurants

The Restaurant Industry is worth $660 billion globally, and revenue is expected to grow by 4.1% in 2018 alone. An investment of around $200k can go a long way into starting your own restaurant (depending on location). If you’re considering making an investment in a restaurant, we recommend it be what some may call an upscale fast-casual concept. The industry average for restaurants that fall under this description is roughly $4 per dollar of gross sales.

Retail Stores

It’s hard to find a corner of our economy untouched by retail. In 2012, for example, $4.3 trillion in goods and services were sold at U.S. retailers, accounting for about 9 percent of GDP more than one-fifth of all economic activity. As an entrepreneur, you have your choice of industry; whether you choose to sell shoes or software, there are plenty of opportunities out there. But it helps to know which businesses are growing and which aren’t before you start making plans.

Car Washes

In the United States, a car wash is typically an establishment where automobiles are washed and detailed. A self-service car wash is one in which customers pay to drive their own vehicles through a course consisting of washing, rinsing, and drying sections. Car washes employ people to manage each section and perform some of the manual labor. Automated car washes also exist where a vehicle enters on a conveyor belt or drives on its own into a tunnel or enclosure for automatic cleaning.

Plumbers, Painters, and Handymen

According to a 2014 report by IBISWorld, plumbers, painters, and handymen are expected to earn a combined $36.2 billion in revenue from painting, plumbing, and repairs alone. Businesses like HomeAdvisor and Angie’s List can help you find qualified professionals for your home projects.

Automobile Dealerships

If you’re searching for how to make big money, don’t forget about autos. Nearly every American buys or leases a car at some point in their lives. For many consumers, it is one of their largest purchases and one of their biggest liabilities (car payments, anyone?). It is also something we use every day; most people spend over 25 minutes commuting to work and back each day.

Large Corporations

While corporations are considered to be legal persons, they still rely on humans to make important decisions and drive change. Since large corporations generally have a lot of resources, hiring a professional is often recommended. At some point in every entrepreneur’s life, you’ll need to hire employees or freelancers to help you with your work; therefore it’s essential that you choose professionals who will match your values and work ethic. Your success will depend on it!

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