most risky business you know are still profitable

[funmi]

I consider those people runing a P.O.S business to be very risky mostly if you are living far from banking envoronment and far from the city centre. It can be so challenging and risky aswel despite the fact that they are very risky they are aswel very lucrative but the tactics most of them use is that they don't keep the money with them they have people who are very far from them that keeps the money such that criminals won't even know them and they don't keep huge amount of money in their shop unless people need it then they go for it in a very short time.
Again those people who do mining business also risk their lives to get the precious stones.
What's your take in this discussion? Please do share your opinion about it.
Thanks.

 

[Sotherefore]

POS business is not one of the most risky Business because there are a lot of business I know that are much more riskier than the POS business you are talking about,see diving and deep see exploration is the most riskiest job I know,but with higher knowledge about the type of work you are doing it might not all that be risky.

 

[Alexandoy]

This reminds me of my stint with a convenience store in the US circa 1988. I was assistant cashier in the night shift together with the manager. There came 3 young guys carrying packs of beer and chips. Instead of going to the cash register where I was positioned they ran to the door. It was scary because I was about to chase them when the manager stopped me. He saw one guy with a gun. That really scared me.

 

[Augusta]

I consider those people runing a P.O.S business to be very risky mostly if you are living far from banking envoronment and far from the city centre. It can be so challenging and risky aswel despite the fact that they are very risky they are aswel very lucrative but the tactics most of them use is that they don't keep the money with them they have people who are very far from them that keeps the money such that criminals won't even know them and they don't keep huge amount of money in their shop unless people need it then they go for it in a very short time.
Again those people who do mining business also risk their lives to get the precious stones.
What's your take in this discussion? Please do share your opinion about it.
Thanks.

When once you are going into any business you are looking for a risk.it is just that some risks are higher in. Some businesses than others that's the truth. So pos business it is very risky since money is involved. Same with recharge cards business. Any little mistake anywhere your life savings might just be on the line. So every business owner just need to be careful

 

[Chibson]

I don't agree with you about POS business as one of the most risky. Every business is generally risky in terms of security and other things but tagging POS business as one of the most risky business is not provable. The main reason a lot of people don't run successful businesses is because they don't have proper knowledge and understanding of how it works and another reason may be that they don't know the good locations for running such a business safely.

 

[IamDozzy]

As a rule of thumb, “the more the risk , the higher the reaward”. The POS business sure is a risky business as one would always be susceptible to robbery from criminals and scammers but the profit one stands to gain is very enormous. I know of few people into the POS business in Nigeria and are very comfortable with it. They had opened additional outlets in various areas of Lagos so as to maximize profit. Point someone would still do risky business whether it's safe it not. They usually stand the chance of having huge gains.

 

[Mika]

I think financial risk is greater risk compared to the physical risk such as burglary. If your business is insured, you can easily recover what you lost during the burglary. However, if sales are not picking up, if you are not getting a lot of customers, your business will be under the risk of failing, you might become bankrupt.

 

[Sherman198]

I think there are several businesses that are very risky but at the same time very profitable. I think exporting and importing business can be highly risky but at the same time profitable. You need to have real and big money to start importing and exporting business, and your goods maybe seized at some point in time. Which maybe a bad business for you.

 

[Wisdom01]

One business that i know that is very risky too is eletrical business , because the business requires more boldness and could be risky if the person start touching and testing faulty wires and in the process any mistake could happen , so the person needs to take more precautions in anything he or she is doing i think