Most people get into a certain business because it's been in their family for generations. Often these people end up ruining not only their lives but also their family businesses. An individual should only enter business if he has the appetite for excessive risk and a sharp mind for strategic thinking. No business is bad it's how an individual runs it that actually decides a business' fate.
There are 3 major businesses which can never run into losses and provide the highest revenues in the market:
Food : No matter how poor or rich a person may get he is bound to consume food. Any sort of food business is a good idea whether it is a high end restaurant or a simple fast food chain. Even grocery retailers get high revenues. There is tough competition but if you are the best nothing can stop you from earning your millions.
Education: In an age where everyone wants to get educated and the government is constantly working to provide education this is one field which would never run into losses. Whether you are a teacher, a principal or the chairman of a school your future is secure.
Clothing : People can't roam naked on the streets now can they. Clothing is one of the best businesses one can get into. The only problem a person may face is the stiff competition from clothing chains. But this wouldn't affect businesses who are able to establish their supremacy in the market. Revenue is high and so are the margins. On an average a retailer is able to earn 70-80% returns on the sale of a single product.
By simply listing certain fields I am not stating that other businesses are bad. It is just that the above listed have been tried and tested and for a long period of time have been giving assured returns. Any business is good provided you as the owner are able to run it to it's optimum potential and generate maximum profits from it for yourself.
Best of luck choosing a business
-Doodle
There are 3 major businesses which can never run into losses and provide the highest revenues in the market:
Food : No matter how poor or rich a person may get he is bound to consume food. Any sort of food business is a good idea whether it is a high end restaurant or a simple fast food chain. Even grocery retailers get high revenues. There is tough competition but if you are the best nothing can stop you from earning your millions.
Education: In an age where everyone wants to get educated and the government is constantly working to provide education this is one field which would never run into losses. Whether you are a teacher, a principal or the chairman of a school your future is secure.
Clothing : People can't roam naked on the streets now can they. Clothing is one of the best businesses one can get into. The only problem a person may face is the stiff competition from clothing chains. But this wouldn't affect businesses who are able to establish their supremacy in the market. Revenue is high and so are the margins. On an average a retailer is able to earn 70-80% returns on the sale of a single product.
Best of luck choosing a business
-Doodle
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