The less you innovate the better your chances of making money instead of losing it 70% of startups fail within the first 10 years so if you thought the easiest road to 1 million was just about creativity and disruption.
You’d be wrong my friend stale old weak and simple businesses known as SS can help you reach that one million with less risk and a lot more stability you work in this job is repetitive and there are no cutting-edge technology or trends at the Forefront of it but you know.
You’ll have lots of customers and low competition you can also decide if you want to be a one-man or one-woman show or if you want to scale you don’t need a whole lot of other people these businesses are easy enough to keep it easy keep it small and work by yourself for yourself here are 5 boring businesses that can get you to 1 million dollars.
Lease Event Supplies
Number one lease event supplies if you want to be sure of always being in demand well you need to tap into the market that never stops unless there’s a pandemic of course Weddings corporate events birthday parties and festivals are your money makers you’re not going to be praised at the event.
But you’re not looking for praise you’re looking for a profit event infrastructure that has high markups and continuous demand you can rent out your equipment so your Investments can all be working at the same time.
When you’re not physically there your assets in the business like tables chairs photo booths and bouncy houses won’t depreciate as fast as Assets in other Industries if you maintain them well then the wear and tear and costs of repair will be minimal it’s not the type of business that’s going to get you featured in a Luxury magazine but you won’t care about that once the business starts rolling in.
Flooring for Multi-family Residential Buildings
Number two flooring for multiform residential buildings specific knowledge can make or break you it can limit your options or it can put you in high demand multiform residential buildings like apartments condos and Town houses have constant turnover and high traffic which means they need to replace their floors regularly.
So they’re looking for people who are good at this property managers and landlords want reliable cost-effective flooring that can last them for years if they do the job
Well once well you’ve got a customer for life and they’ve got lots of units repeat business is almost guaranteed and Word of Mouth travels strong and fast in this industry.
These businesses simply nail down a niche that targets repeat customers and here is how you do that first, you dig deeper than the surface-level desires and ask yourself what the recurring problem my ideal customer faces this might not be what they say They need but what they truly struggle with regularly look for pain points that keep coming back.
Second, think about services or products that people depend on customers are more likely to come back to you if they feel like they’ll be losing out by not having your product in their life and third every conversation and interaction you have with your customer should leave them excited about the next thing you can offer them they should make using your services a habit because they trust you to deliver value.
Rent Out Self-Storage Units
Number three rent out self-storage units the best way to make money is if you can deliver something and get paid without even being there you just manage the space and give access to it the actual day-to-day management is pretty minimal you’re profiting from space not product and with around 10% of the population in the US renting a storage unit.
There’s plenty of profit to be made here and the great thing about this is that your initial investment can be as low or as high as you’re able to afford you can start with less than 60k or go up to $1 to $2 million where you can buy the land and build the facility all yourself the average profit margin is 41% and the more units you can rent out the more money you’ll make with an average unit size of 50,000 Square feet you can expect to make $184,000 a year in your profits.
Depends on what you put into it though it’s it is a location game find the right place and you’ll be able to Target college students’ business Parks or military personnel once the facilities are built they can run themselves you’ll have to step in sometimes to oversee things and keep maintenance in check but since it’s one of the most profitable commercial real estate options out there that minimal time investment is worth.
Asphalt and Sealcoating Companies:
It is the number four asphalt and seal coating company imagine starting a business.
And making back your initial investment in just a few jobs well asphalt and Paving fly under the radar literally like gum under your shoe that you only think about when it inconveniences you.
If you’ve never thought about doing this before much less seeing it as a business opportunity he us out okay because here’s what it is asphalt is a mixture of sand gravel and crushed stone that’s bound together and used to construct roads parking lots and driveway seal coating is when you apply a protective layer to the surface to make it more durable and here’s why it’s going to be profitable for you.
You charge about $125 a pop most driveways take about 3 to 5 hours to do completely.
From paving to ceiling people know that to increase the value of their property they need to have their driveways patios walkways and parking spaces looking beautiful and well-kept you need to have some curb appeal here.
So you’ll have to buy some tools it’s going to set you back around $1,000 for basic equipment or up to 10,000 for more Advanced Machinery your overall startup costs.
Including legal fees insurance and marketing can range from 5 to $220,000 some businesses have made $80,000 within the first few months of operation the average starting profit is between $50 to $100,000 a year so you can launch with just a few and benefit from average profit margins of around.
Buy and Sell Art:
70% number five buy and sell art if there’s one Surefire way to profit from a boring business it’s to focus on Aesthetics and Status people will pay for things that look good and make them look good always but this isn’t.
Like trading stocks where the pace is quick and results are immediate art investment needs patience and a lot of due diligence it’s a long-term hold which is part of what makes it so stable but choosing the right pieces is also key with segments of the high-end Art Market outpacing traditional investments like the S&P 500 but if you’re buying art outright you’ll need substantial Capital anywhere from 10,000 to millions of dollars depending on the artist and the piece so you need an ace up your sleeve that’s going to get you in the door without it costing you millions of dollars and that’s where our long-term collaborators.