There are a few businesses where you make more profit than others. It could be that the overhead cost is low, business costs are less, or the company gets to charge more for its products and services. Even then, most businesses are challenging to start, irrespective of how profitable they might be.
Most lucrative business according to Michael Osland
Are you planning to start a lucrative business? If yes, you can take a look at the following options:
1. Bookkeeping and tax preparation
Without requiring any costly device and fancy premises, the bookkeeping and tax preparation services have reduced overheads. Additionally, the standard quality rate for bookkeepers and tax preparers is an excellent salary to thrive on. Having said that, if you don’t find keeping numbers easy, then this business option might not be the best one for you.
2. Website design
Today, every successful business requires a decent website. Hence, creative and quality website designers are always in high demand. High rates and low costs make this a lucrative business opportunity, but you need to have the technical and creative know-how for it.
3. Catering services
You don’t have to pay a considerable amount to start a catering business. Michael Osland says that it is possible to start the business from home with minimum overhead. Today, most companies and people are keen to pay for excellent and expert caterers. Hence, it is a profitable business domain for those who can work hard and are willing to succeed.
4. Business consulting
Today, the leading businesses are all set to invest in expert business consultants who assist them in attaining the best outcome. They are all set to pay a reasonable price for the correct advice. Since it involves low overhead, business consulting proves to be a lucrative profession to start. Expert business consultants must have sound business know-how and understanding. Therefore, only the correct candidates should go ahead with this business idea.
5. Mobile hairdresser services
No one can charge an exorbitant price for cutting a person’s hair. Having said that, there will always be an increased demand for quality hairdressers. And apart from professional scissors and hair dye, your business costs are significantly low if you operate a mobile hairdressing salon. Hence, it’s a lucrative business domain to step on. It is easy to come across a mobile hairdresser, and you don’t need to spend big on marketing.
6. Courier services
Apart from a vehicle for delivering goods, the self-employed couriers typically don’t require a considerable overhead. Attaining lucrative contracts from prominent courier companies will prove profitable as well. But in the current market, which is driven by competition, attaining good contracts might be challenging.
7. Cleaning services
If you wish to start a cleaning business, all you need is a car, a vacuum cleaner, and a polished floor cleaner. The company includes low overhead and proper training. This service will always be in high demand, and it is a profitable business idea.
These are a few business ideas that you can opt-in for if you want to start your business. Make sure that you choose a company about which you have the required know-how and the training.
