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High Profit Margin

FitnessTycoonFitnessTycoon Posts: 2subscriber
edited October 2008 in Selecting a Business
Hi Everyone.
 
I was just wondering what everyone here believes are the business`s/industrys with the highest profit margins? Any one got any insight into this
 
Thanks
 
Dave
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Comments

  • spungeyspungey Posts: 2subscriber
    A few thoughts come to mind:
    1. Banking (especially if you`re the central bank)
    2. Pharmaceuticals
    3.  Smuggling
    4.  Any "regulated" industry (like energy and other than banking)
    5.  Pornography
    6.  Writing (only if you count your labor a zero cost based)
  • MNGrillGuyMNGrillGuy Posts: 2subscriber
    Gotta be home/appliance repair.  I paid $200 to have some dust removed from a furnace!  15 minute job.
  • FitnessTycoonFitnessTycoon Posts: 2subscriber
    Thanks everyone. Any other ideas?
  • vapourlockvapourlock Posts: 4subscriber
    I am with Spungey on writing.
     

    Writing
    Arbitrage anything. Low supply/ High demand.
    International Trade.
    Web based business - Better than full-fledged print publications and mags anyday. You got to plan well for this, though.

    0.02 $


    Vapourlock
  • spungeyspungey Posts: 2subscriber
    commodity futures and currency trading.  (95% leverage, typically.)
  • RicWillmotRicWillmot Posts: 14subscriber
    Executive Wisdom Consulting Group.
    And, I say that unashamedly with care and consideration; I think way too many people in the professional services industries undersell the value they deliver to their clients.
    Rgds,
    Ric
  • entreprenativeentreprenative Posts: 0subscriber
    vapour,
    I am actually in the middle starting a "full-fledged" publication and know that there is the alternative "e-zine" but. . . in reviewing your submission I am reconsidering my options. We WOULD like to jump in to a web-based venture and I`d appreciate any input you have in terms of the benefits of being completely digital. But we are talking about a niche publication.
    Awaiting your feedback.
    Waylon Pretends Eagle
  • vapourlockvapourlock Posts: 4subscriber
    vapour,
    I am actually in the middle starting a "full-fledged" publication and know that there is the alternative "e-zine" but. . . in reviewing your submission I am reconsidering my options. We WOULD like to jump in to a web-based venture and I`d appreciate any input you have in terms of the benefits of being completely digital. But we are talking about a niche publication.
    Awaiting your feedback.
    Waylon Pretends Eagle

     
    entreprenative,
     
    I am glad you are re-considering your options.It is always good to pause and think. I don`t know the niche category you are talking about but perhaps you could work out things this way...

    It isn`t very expensive to start a "Online only" mag or e-zine. But then, I don`t know which country you are in. However, that`s the beauty of going digital. Suddenly the world is your country and you do business beyind boundaries.
    Who is your reader? What does she do? What are her interests? What piques her? What does she do when she isn`t working? Does she spend time online? If yes, how much? If she isn`t reading online what is she doing? -- The beauty is that all of this info is available online. You need this info because you have to ensure you know your customer better than your children.
    Off line mags are generally subscribed - they are subscribed because they offer timely, valuable information which readers love to read. You can`t forget this golden principle -- no matter which way you tend to go.
    I was reading this book called " E -Myth Re-visted" by Michael. E. Gerber -- I`d suggest you go and buy it.It talks about how the skilled worker starts a business only to get caught in a trap he had devised on his own. It talks about how to develop business as "system" and how you could -- if done right-- walk away from your business and still make it work for you. Do you understand what that means to you? Do you realize that it begets freedom and wealth?  It even has a sequel called "E-Myth Mastery". I couldn`t sleep after that. It is pure gold, if you ask me. Go ahead and buy these books.
    E-zine type business model works beautifully if done right - low overheads, remote writers, editors and proof readers. See these sites? www.marketingprofs.com -- although they do have magazines, their sites are just as good.
    It is hard work to find and retain good quality but still inexpensive writers ( like me ..ho ho..) who are also reliable and stick to deadlines. If you can work out a system for your entire business and think about it, I don`t see why you wont do well.

    I am not qualified to talk more than what I can simply because I had never set up a web-zine. But think of these as my 2 cents.
    All the very best and may you succeed like no other.
     
    Vapour..
     
  • vrleysonvrleyson Posts: 0subscriber
    Food businesses in general - at least a 40% mark-up. Think about it, a cup of coffee for $4.00!
  • jeff66jeff66 Posts: 0subscriber
    Hotel Gift Shop`s have high profit margins and I`ve got one I`ll give you for free and it`s full of merchandise. It`s in Jacksonville Florida.
     
     
    jeff662/5/2008 2:24 PM
  • BurkeBurke Posts: 0subscriber
    I share your concerns, Waylon. I publish a niche magazined now, and am looking for a good opportunity to start one online. But from what I have read, it has to be "right" or it won`t go anywhere. but online is a definite way to keep costs down, and away from the cost of traditional printing.
     
    Ryzo
  • grnoldschoolgrnoldschool Posts: 0subscriber
    I work with a company called Global Resorts Network. It is a direct sales company. Many direct sales companies market high profit high ticket items due to the fact that the distributors are in charge of the advertising and running their own business. 
    To make money in this industry you need a product that sells itself, that has value in the marketplace without the oppty attached. You need system that helps you close sales and you need a compensation plan that can allow you to earn $10k+ a month. 
    Here with Global Resorts Network our luxury timeshare membership is the perfect product for those that cant afford the 10k-30k + it takes to buy a timeshare but still want the advantages of saving 70-80% off retail staying at 3-5* Resorts.  We also have sales systems in place that allow you to run the business fully automated, where you have virtual assistants doing the work for you or you can decide to do the business on a more personal basis.
    Whatever works for you just make sure you find a business with a great ROI where you can get into profit in weeks not years.
    Chris
    www.getgrntoday.com</A>
    877-776-7503
  • CarrieS1217CarrieS1217 Posts: 0subscriber


    I work with many successful six figure income earners daily in this business I have a very large team and am teaching them on a daily basis how to create 6-figures from home, travel for wholesale prices, and spend more time with friends and family. Together we are extremely busy looking for, and assisting motivated people to set up their own profitable home based travel business. Everyday I receive calls and emails from individuals who claim they are frustrated and disgruntled with the quality of their lives and are looking to make changes. I mean everyone is interested in being their own boss, building wealth and financial independence from home, living a stress free lifestyle.
     
    Ask yourself --
    If there was a single travel solution with the 24/7 convenience of the internet, TRUE WHOLESALE pricing unavailable to the general public, access to virtually anywhere in the world and the 5-star service that you desire and expect, would that be exciting to you?
     
    If so, please visit my website, or email me or call me:
     
    Carrie Scholzen

    http://havingfunwith.P1DRevolution.com


    [email protected]

    888-780-4578

    Would you or anyone you know love to save money on flights,
    condos, hotels, car rentals, restaurants, golf and more?
    Would you exchange 6 thousand dollars for 24 thousand dollars


     


    Ask yourself.
    If there was a single travel solution with the 24/7convenience of
    the internet, true wholesale pricing unavailable to the general
    public, access to virtually anywhere in the world and the 5 star
    service you desire and expect, would that be exciting?
    Would you or anyone you know love to save money on flights,
    condos, hotels, car rentals, restaurants, golf and more?
    Would you exchange 6 thousand dollars for 24 thousand dollars


     
     
  • dougmcisaacdougmcisaac Posts: 0subscriber

    The best margins are in things that you can do once and earn residual income from.
    Almost any type of intellectual property qualifies:
     
    1. Licensing
    2. Movies
    3. Electronic Books
    4. Audio and video educational products
    5. Music
     
    Doug
  • productdeveloperproductdeveloper Posts: 0subscriber
    I agree with you Doug.  I have developed and licensed several innovations with less than $100 of total cash investment on my part and only a few months of my time (on a part time basis) that returned above 6 figures in the first year and have been paying me royalties for years thereafter.  I keep my cost down by doing the initial work myself and I then pass most of big costs on to my licensees.  If you can come up with an idea for something (invention, business concept, etc.) flush it out enough to give it real value to a licensee and then properly protected it, it can be a great high profit venture. 
     
    Eliot
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