6 business ideas that never fails

Most businesses are prone to failure. The pertinent question is how to establish a business that is immune to failure. Our research has identified six businesses that exhibit the lowest failure rate. This conclusion is supported by empirical data. It is reasonable to be concerned about the possibility of business failure, as evidenced by the US Bureau of Labor Statistics, a reputable and authoritative source. According to their findings, 20% of small businesses in the US fail within the first year, and this figure increases to 50% by the fifth year. After ten years, two-thirds of all businesses have ceased operations. These statistics are not favorable and underscore the importance of identifying businesses with the highest probability of success. By analyzing the data, one can make an informed decision about whether to pursue a particular business venture.

If someone desires to venture into the pools, the most crucial decision to make is the initial deal or business venture. This is since if the first endeavor fails, the likelihood of taking risks again is significantly reduced, known as the recency bias. If one's recency bias is inclined towards success, it is advisable to aim for small wins, as this increases the probability of future success and risk-taking. Conversely, if one's recency bias is inclined towards failure or negative experiences, the likelihood of continuing to take risks is diminished. Therefore, it is imperative to analyze data and determine which businesses have the lowest potential for bankruptcy.

Upon analysis, it has been found that laundromats have an incredibly low failure rate, with a success rate of approximately 94.8% over a five-year period, according to Laundry Lux. This data has been confirmed by the Chamber of Commerce in partnership with Speed Queen, which reported a success rate of 93%. It is noteworthy that Laundry Lux is a member of the laundromat community, which may indicate a certain level of bias.

In the 1990s, it is important to note that nothing in business is guaranteed. However, I refer to laundromats as a gateway drug to business buy-in due to their low failure rate and simplicity. These establishments typically require minimal investment and are easy to comprehend, with coin-operated machines for washing and drying. Furthermore, laundromats provide a recession-proof business model, as people will always need to wash their clothes. Additionally, there is a passive component to owning a laundromat, as it can be run remotely with minimal employees or contractors. We have created a comprehensive video detailing the intricacies of laundromat ownership, including how to start and run one successfully. Furthermore, rental property businesses are a lucrative investment opportunity, with Andrew Carnegie famously stating that 90% of all millionaires made their fortune through real estate. In fact, real estate has historically outperformed almost all industrial investments combined, with an impressive 85.3% success rate.

Real estate is a compelling industry with a notably low failure rate. This can be attributed to several factors. Firstly, it is a straightforward business with tangible assets, such as houses, which provide a sense of security. The market is highly efficient, and the value of a property is typically determined by market forces, leaving little room for variation or unpredictability. Additionally, rental income provides a steady monthly cash flow, which can be easily calculated by factoring in mortgage payments and rental fees.

Real estate also offers several intriguing features, such as appreciation, which averages at four percent annually, and the ability to leverage mortgages to purchase properties. This not only allows for the use of other people's money but also provides tax benefits, such as 1031 exchanges, which defer capital gains, and depreciation and amortization, which offer alternative tax write-offs.

Overall, real estate is a highly attractive industry with numerous benefits and a low risk of failure.

The tax benefits of being a real estate investor are significant, particularly when considering the passive component of the investment. While it is true that there is no such thing as free money without work, real estate prices can be intriguing if one is in the right cycle of the market. Currently, real estate prices are high but falling fast, particularly in California where prices have decreased by 20 to 30 percent. It is important to consider whether one qualifies for a loan and can cover the mortgage, but the success rate of real estate investing is high due to various factors. Even a small monthly percentage, such as the average rental property of $462 per month, can provide valuable insight into growing the business and identifying good deals with some effort.

For those who are not interested in multi-family real estate investing or do not wish to deal with tenants or maintenance issues, self-storage facilities may be a viable option. These facilities have been a leading asset class in real estate since 2008 and boast a 92 percent success rate, according to studies conducted by Rhino Building. However, it is important to note that there are many self-storage facilities, and it remains to be seen whether the success rate will continue in the coming months and years. Nonetheless, there are individuals such as Nick Huber who have made millions on absentee storage sites, as evidenced by our article on how to start and run an unmanned self-storage business. The asset class is fascinating and worth considering for those seeking alternative investment opportunities.

Advancements in technology have made it not only possible, but also quite standard to operate various systems remotely. These include keyless entry, tracking systems, security systems, automated bill pay, and automated contracts. All of these features allow individuals to access their storage units without the need for a manager on site. Additionally, there is a value-add component to this asset class, which involves adding features to the business to increase its value and efficiency. Even simple improvements, such as painting the front of a self-storage unit, can significantly increase the property value.

The phone has played a significant role in eliminating the need for a manager on site in most cases. In the transportation industry, last mile delivery has been the most significant change in the economy over the last decade. With the rise of e-commerce and the gig economy, it is more important than ever to have a reliable way to deliver goods to consumers. Transportation and logistics involve the delivery of goods or people from one place to another for a fee. This can take many forms, from a full-fledged long-haul trucking business to a simple side hustle driving for Uber on the weekends. According to Advisor Smith, these businesses have a success rate of about 76.4%, which is quite high. However, there is a significant difference between short and long-haul trucking, and results may vary. Scaling may also be a concern given the demand for drivers.

As a business opportunity, the prospect of purchasing a truck and running a delivery service presents an intriguing and relatively low-risk option. The inherent value of the vehicle, coupled with only a slight depreciation after purchase, makes for a favorable investment. Whether one chooses to operate the routes themselves or hire someone else, the upfront expenses, or capex, are minimal. This not only results in a relatively low failure rate but also ensures that the investment will not bankrupt the investor. It is imperative to avoid deals that could potentially wipe out years of hard work and investment. Therefore, these small gateway starter businesses are particularly appealing.

I would like to share a personal story that highlights the potential of starting small. Recently, I sold a website called Grow Getters for $8,000, which I had initially purchased for a mere $100. This newsletter focused on marketing growth and was created for fun with two friends. This experience reinforced my belief that one can start with small deals, large deals, or even online deals. I have partnered with Flippa, a company that specializes in buying and selling online businesses. Flippa is my preferred site for purchasing any online business. I am investing in online businesses because, as statistics show, 94% of startups fail. Therefore, it is more prudent to buy established businesses rather than build them from scratch. Flippa offers loans and seller financing options, and although some cash is required upfront, profits can be realized on day one of owning the business. The cash flow generated by the business can then be used to fund future endeavors.

Flippa has listed over 500,000 businesses and has facilitated billions of dollars in transactions. It is also the best platform for selling an online business, as they have a matching algorithm that connects sellers with potential buyers. For those interested in selling their business or determining its value, Flippa offers a free valuation tool.

In conclusion, starting small can lead to significant opportunities. The delivery service business and online businesses are two examples of low-risk investments that can yield high returns. Flippa is an excellent resource for those interested in purchasing or selling an online business. Thank you for your attention.

When considering potential introductory business ventures, one that particularly stands out to me is the vending machine industry. Specifically, Roots vending machines offer a low-cost entry point, requiring only three to five thousand dollars to purchase and begin operations. Alternatively, one could opt to purchase a used machine for as little as eight hundred dollars, provided they possess the necessary acumen and resourcefulness. I have previously expounded at length on this topic, and have acquaintances who operate vending machines that dispense healthy food, as well as more conventional options. While I acknowledge that this may come across as name-dropping, I feel compelled to mention Candace Nelson, the founder of Sprinkles Cupcakes, whose innovative idea to introduce cupcake vending machines proved to be a resounding success. It is worth noting that her red velvet cupcakes are, in my opinion, unparalleled in their quality.

Once one has acquired a vending machine, there are several steps that must be taken to ensure its success. Firstly, a high-traffic location must be secured, either through negotiation or rental. Inventory must then be procured and maintained. While this is an excellent starting point for a fledgling business, it is not necessarily a lucrative long-term option for those seeking to earn substantial profits. However, it does provide an opportunity to learn valuable skills such as logistics, pricing, and managing contractors. By starting small and gradually expanding, one can avoid financial ruin and gain a thorough understanding of the industry. It is worth noting that vending machine businesses have a success rate of approximately 90%, according to industry experts such as Drop Vending, or 82%, according to the US Bureau of Labor. With careful planning and execution, it is possible to build a successful vending machine enterprise and potentially sell it as a group in the future.

As per the US Bureau of Labor, there exist numerous vending companies that generate billions of dollars in revenue. This fact is intriguing as it demonstrates the potential for scalability in this industry. However, I must note that achieving success in this field may prove to be a challenging endeavor. Nevertheless, the low failure rate, affordable startup costs, and straightforward operations make vending a favorable option for individuals seeking to establish a starter business through hard work and determination.

Moving on to the next business idea, I was surprised to learn that Senior Care Centers have a low failure rate. This outcome is not entirely unexpected, given the various government subsidies available at the state and city levels that support the operation of such centers. Additionally, the changing demographics in the US, with an increasing number of older individuals requiring care, further contributes to the viability of this industry. While I initially believed that purchasing property worth tens of millions of dollars was a prerequisite for starting a Senior Care Center, I discovered that renting or buying a house and obtaining the necessary zoning and certification is a feasible alternative. Although oversight and compliance with regulations are essential, the potential for success in this industry is promising.

In conclusion, the businesses have demonstrated a low likelihood of failure, as per the available data. We welcome suggestions for the next business ideas to cover.