Whats the most profitable business to do?

[Profwriter]

There seems to be a connection between how much profit you can ever get from your business with the line of business you do.

When you take a look among the most richest business owners, majority seems to have their business in a certain niche.

The most richest business owners by my own personal evaluation operate business that has to do with the use of technology, some sell technology as a service or as a hardware.

This establishes the fact that not all business pays well and it's important you do a proper study on any business before you begin. It's not about the effort inputed into the business but the line of business that you do.

The teaching profession should not be entered with the mindset of earning a fat pay, you must have a sincere passion for the job or you get frustrated most especially if you reside in Nigeria.

Kindly add yours and tell us about high paying business niche and poor rewarding business ventures.

 

[Hena101]

Looking at this question you need to think deeply because there are many factors that make business to be profitable or not. This factors are the high demand of that business. Whenever what you're producing is in high demand you get much profit because of how it market go fast everyday. While if what you are producing is not in much demand there is no way it can fetch you profit. So the demand is the reason why some business make much profit.

 

[btaliat]

If you are talking about business, then we can be talking about profitability. I don't think job or working under someone else is capable of making you rich and comfortable as you wish except if it is government or multinational companies. Businesess that I think are profitable include oil business, block and construction companies and the likes.

 

[Timison]

Realizing the most productive organizations to wander in is so troublesome. This is on the grounds that the benefit of any business relies upon numerous variables. Components like how sought after the business is, the way well you bundle the business, what area the business is, the all around set up deals channel and government approaches. These variables will decide the achievement or disappointment of any business.

 

[Godslamp]

Some businesses are inherently more profitable than others. This can be due to expenses and overhead being low or the business charging a lot for its services or products. Still, all businesses, no matter how profitable they are, can be a challenge getting started. Providing quality food and drink will always be in high demand, though with expensive overhead, running a restaurant isn’t always as profitable as you might think. Serving food from a food truck, on the other hand, requires much lower overhead and can be an extremely profitable business venture. The downside is you have to work out of a van day in, day out, which isn’t everyone’s idea of a rewarding business

 

[Godslamp]

In as much as every business is profitable because the main purpose of instituting a business is to generate profit. But there are some business that generates profit more than the others when the production processes are being considered down to the marketing of the goods or services. An example of such business is food business.

 

[Deleted member 27126]

Most profitable? I think you need to reconsider the question again. When it comes to making profit (from which the word "profitable" is derived), this can only be said of a business not an employment. What am I saying? Making profits is only possible if you have your own business and not if you are working for someone - be it as a teacher, banker, doctor, etc. You need to come out of the box and start your own business to be able to make profits. Employment doesn't give you profit, rather they give you salary which is just a fraction of the profits made by the company.

There seems to be a connection between how much profit you can ever get from your business with the line of business you do.

When you take a look among the most richest business owners, majority seems to have their business in a certain niche.

The most richest business owners by my own personal evaluation operate business that has to do with the use of technology, some sell technology as a service or as a hardware.

This establishes the fact that not all business pays well and it's important you do a proper study on any business before you begin. It's not about the effort inputed into the business but the line of business that you do.

The teaching profession should not be entered with the mindset of earning a fat pay, you must have a sincere passion for the job or you get frustrated most especially if you reside in Nigeria.

Kindly add yours and tell us about high paying business niche and poor rewarding business ventures.

 

[olubenson]

If i will have to choose a profitable business , i will look at my jurisdiction , which is Nigeria. I will only venture into any business of manufacturing for the masses . Also the raw materials must not be imported to minimize foreign exchange stress. If i may choose, it will be Food processing and manufacture, pharmaceuticals . These are my major picks.

My opinion though

 

[arunima25]

I feel that there can not be a correct or wrong answer to this question. People who have good entrepreneur skills are always looking for opportunities and they are quick to grab opportunities that can give rise to a business idea. And one has to be quick to grab and materialize and execute it before someone else does. Also, we need to understand that one has to keep changing and updating to stay in business and stay in demand and meeting the demands of the consumers. Any leniency can make a good business fall in no time. We have enough examples of once a profitable business going down the drain as they could not withstand the demands or failed to update .

 

[Victor001]

No business in particular is better than the other,just be good at what you do by giving maximum attention, improvising your techniques where needed, create room for advancement. I currently do forex trading and what made the business profitable for me was because I sacrificed my time and energy to learn the fundamentals and technicalities of the business.

 

[Snazzy001]

I think this can be controversial due to many factors influencing this .for a business to be very profitable ,it has to be widely accepted and readily embraced by consumers and clients .now to reflect on the topic ,business varies from place to place .where I come from ,Sports Betting business shop is the best

 

[Shigobad2020]

The most profitable business nowaday is going into farming big time, farming is a profitable business nowadays and you can go into different area in farming , you can venture into fish farming, poultry (where you can rear chick, raise them and later sell them or start selling their eggs ) , cocoa farming or bannana plantain farming.

 

[Planet408]

I don't think there's anything like the most profitable business in the world. It depends on how you handle your business at a point in time. Bilgate was once the richest man in the world but today he's no longer the richest man. Someone from a different niche have overtaken him. So just run your business in the right way and you'll see success. Discover your business well!

 

[Maphalle]

Business is business, depending on how you run it, how u manage it and how you market it. It also depends on the location of ur business. The target market also count a lot in business. For example you cannot open an internet café where everyone has all the gadgets they need and have an access to internet or WiFi.

 

[Georgeadawara]

Depending on your environment the business you will like to do and what can be needed in your environment. As of my present location they are many kinds of business you can do and that can bring alot of beneficialy business for you. Business that can bring I. Come to your now is the business is selling soft drinks and snacks. And if you a restaurant that will be good too.

 

[eojo2401]

The most profitable business in one location but be a worse business in another location. To decide wether investment is viable or not, one needs to consider location of the business. There was a time someone was telling me pos business is very profitable in his area, meanwhile it is not profitable at all in another location where you have several POS terminal operators and numerous bank ATM working 12hour daily.

 

[Segat]

There are a lot businesses that are profitable and they don't really need to much capital to venture into them. Sometimes your network strength could get it done and fetch you huge amount of money back as a profit. As long as you are dedicated and persistent you are good to go.

 

[Setfragil]

There is no business that is not profitable, it depends on the knowledge you have on the business , your experience and expertise you have gained over the years before you start the business. The role capital also play in the determining how profitable your business will be cannot be underestimated. If you have a good knowledge and experience on the business it will be easy for you to plan, direct, organise and supervise your business to achieve the purposes in which the business was setup. All businesses are profitable, the resources the business owner has at his disposal and how well he can manage it will determine how profitable or successful the business will be.

 

[Kingsley]

As at today trading forex stands out as a remarkable and very profitable business, every business has their level of risk. Again I must also consider agricultural business either farming cashcrop or livestock, we might also consider transportation business as a very viable business too. One may also consider building materials.

 

[marcusfe]

There are many profitable businesses and I can say that there hardly any business that is not profitable what makes the difference is the location and the management. Some businesses might not be profitable in some certain location but they to another location they become a goldmine. Sometimes the manner in which a particular business is managed can also determine how profitable the business will be.