5 Profitable Business Ideas for 2017
In 2017, cash is king. Therefore, if you are an aspiring entrepreneur looking to start a profitable business, a cash-business model is a great place to start. Cash businesses generate the majority of their income through cash-related transactions. This model allows you to keep your cash flow position secure and monitor the growth of the firm as it expands.
Here are the most profitable cash business models available this year. Check them out. Then start building your first profitable business.
#1 Food Truck
This mobile business model allows you to maneuver in your business environment. Your business won’t be confined to one particular location. Consequently, you can simply drive to where the action is and set up shop. Open your cart for business in front of a busy office park or outside a shopping mall. However, make sure that you are complying with all local regulatory authorities. Be sure to obtain all the necessary licenses for your county or state.
#2 Car Wash
Owning a car wash is fantastic cash-based business that has minimal running costs and low maintenance. The trick to a car wash business is managing your order flow with your consumption of cleaning products. Therefore, keeping cash available and on hand for seasonal business is always a good idea.
Additionally, owning a car wash is scalable, meaning you can start small and grow from there. You can easily scale the systems you used at your first car wash business, modeling them into a larger and more profitable business.
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#3 Electronic Device Repair
The tech evolution continues to march on into the future. Nowadays everyone has at least one device on their person at all times and multiple devices in their possession at the home and the office. This growing market requires repair service technicians who know what they are doing.
It’s best to buy an existing business that has qualified employees and a management problem. By acquiring the business, you keep the skilled labor and can increase profitability with new management and marketing strategy, turning it into a profitable business.
#4 Bullion Dealing
During an economic depression or recession, people need to sell luxury items like gold jewelry to keep up with their expenses. Take advantage of the stable gold price and weak economic times to build a bullion empire. Gold, silver, and platinum are readily tradable commodities that have huge demand. Buy from the public and sell to jewelers or re-sell to the public to create a profitable business.
#5 Bar or Restaurant
A bar or restaurant is a fantastic cash business. If you enjoy a social lifestyle, then running your own service based business may be the model you have been looking for.
Building or buying a cash business is the easiest business model to master. Primarily, a cash business will give you an understanding of the importance of cash flow in the financial health of a company’s operations. Then, too, this business model is easy to replicate. That’s because it is so scalable. It will therefore provide you with multiple streams of cash-based income. The most important part of setting up your profitable business should be handled by a competent accountant and a professional attorney such as Tario Law Mt Vernon. The rest of the work is up to you. Good luck in your new profitable business!