7 Businesses That Never Fail! (Backed By Data)

Summary

This video explores seven business opportunities with exceptional success rates, ranging from 76% to 95%. It covers industries like transportation, rental properties, agriculture, vending machines, self-storage, laundromats, and dump trucks. Each business is analyzed for its potential to succeed in the long term, offering passive income, scalability, and lower failure rates compared to traditional jobs. With real-world examples and opportunity scores for each business, viewers get an engaging overview of industries with a higher chance of success and substantial profit potential.

Takeaways

• 😀 A transportation business has a 76.4% success rate and is essential for moving people or cargo, making it a stable and recession-resistant industry.
• 😀 Real estate (rental properties) has an 85.3% success rate, with the potential for passive income, long-term wealth, and tax benefits.
• 😀 The agriculture business boasts an 88% success rate but comes with high initial investment, seasonal variations, and labor-intensive work.
• 😀 Vending machine businesses have a 90% success rate and offer passive income with low overhead costs and scalable opportunities.
• 😀 Self-storage facilities enjoy a 92% success rate, providing scalable business with low labor requirements and continuous demand for storage space.
• 😀 Laundromats have a 95% success rate and offer high return on investment (ROI), though they require significant capital to start and careful location selection.
• 😀 A dump truck business has the highest success rate of all the businesses listed and offers high earnings through transporting materials for construction and infrastructure.
• 😀 Businesses with high success rates tend to provide essential services that meet consistent, fundamental human needs, like transportation, storage, and food.
• 😀 The success of these businesses is often attributed to low technical knowledge requirements and low to moderate startup costs, making them accessible for many entrepreneurs.
• 😀 Each business type, from transportation to dump truck services, has its unique challenges, such as maintenance, market volatility, and competition, which must be managed for success.

Q & A

What is the success rate of a transportation business and what makes it recession-proof?

A transportation business has a 76.4% success rate. It's considered recession-proof because people will always need to move either themselves or cargo, making the demand for transportation services steady, even during economic downturns.

How can someone start a transportation business with limited resources?

You can start a transportation business using your own vehicle, and eventually, as your business grows, you might want to invest in larger vehicles like vans, trucks, or even semi-trucks depending on the type of service you provide.

What are some challenges associated with running a rental property business?

Some of the challenges in a rental property business include dealing with market fluctuations, property maintenance, and potentially challenging tenants. Additionally, legal issues can arise with tenant agreements or disputes.

Why is agriculture considered a high-success business despite its challenges?

Agriculture has a high success rate (88%) because it provides fundamental needs such as food and clothing. However, it's a highly labor-intensive industry with seasonal variations, weather-related risks, and high startup costs for land and farming equipment.

What is the primary advantage of a vending machine business?

The primary advantage of a vending machine business is its passive income potential. Once set up, the machines require minimal interaction, allowing you to earn money while maintaining flexible working hours with low labor costs.

What are the key factors to success in the vending machine business?

Strategic location selection is key to success in the vending machine business. The right location ensures consistent foot traffic, which directly impacts sales. Other considerations include machine maintenance, restocking products, and managing competition.

What is the success rate of a self-storage business and what makes it attractive?

A self-storage business has a 92% success rate. It is attractive because it offers continuous demand, low labor requirements, and scalability, with the ability to expand facilities or services as the business grows.

What are the main downsides of owning a laundromat?

The main downsides of owning a laundromat include high startup costs for purchasing facilities, washers, and dryers. Additionally, location selection is critical, and owners may face high repair costs for the machines and other facilities.

Why is a dump truck business considered to have such a high success rate?

A dump truck business has an extremely high success rate because it provides essential services for construction, landscaping, and infrastructure projects. The demand for dump trucks is constant, especially in industries like mining, and they generate high earnings.

What is the typical revenue for a dump truck business?

A dump truck business can make an average of $178,000 per year, which is roughly $80 per hour. The revenue can vary depending on the size of the business and the industry it serves, such as construction or mining.