6 Businesses That Will Never Go Out of Market

you’ve come to the correct place if you’re seeking rock solid firms with a high success record
let me begin by stating that there’s no such thing as a business that will never fail any
business that has the potential to produce a lot of money comes with some risk in reality the risk
proportional increase in risk that’s why equities have a significantly better long-term yield
than your normal bank savings account when it comes to high yielding assets like businesses
returns may typically exceed 30 percent however all of this is fraught with risk according to the
bureau of labor statistics around 20 percent of new enterprises fail during the first two years
45 within the first five years and 65 within the first 10 years of operation
but this doesn’t mean you should give up and not start a business you see some businesses
have a considerably greater success rate than others and it’s these kinds of businesses with
low failure rates that i will be talking about in today’s video so give this video a thumbs
up for that youtube algorithm and subscribe if you’re new here okay so without any further ado
let’s get into it in this practical wisdom video i’ll be taking you through six different sorts of
businesses with low failure rates i’ll also share statistics demonstrating these low failure rates
as well as some helpful tools getting started with these enterprises first of all why should
we even know of these failure rates well the majority of new business owners and entrepreneurs
invest a significant amount of time energy and money in starting up their companies if you’re
thinking about starting a business it’s probably smart to choose one that has a good chance of
succeeding right perhaps you have a brilliant business mind and can defy the odds but i always
believe that having the odds in your favor is a good thing so the first business on the list is
vending machine business a vending machine business is somewhat tied to success
the vending industry has a success rate of 90 most businesses fail at an average of 85 of the time
consider how a vending machine firm differs from a typical small business many businesses
fail because of overhead not having enough money for advertising rent and other charges
plus finding and keeping good staff may often be a challenge too on the other hand your vending
machines operate for you 24 hours a day seven days a week a vending machine allowing you to
earn money even while you sleep and that’s a fantastic method to make money a lot has changed
over the years jobs are no longer guaranteed nor secure if you take a look at your local newspaper
if you still read that you’ll see that a lot of people are being affected by corporate downsizing
today job security is non-existent especially when 90 of us work for others owning your own business
is the only method to achieve your goals unlike any other industry the vending machine industry is
unique it enables the company owner to establish a vending machine route with little or no expertise
while also allowing them to operate from home in an all-cash business and yes you heard that
right vending machines operate entirely on cash a vending machine business also has advantages that
are uncommon in other sorts of enterprises such as cash flow is immediate from the first day on
you’ll be making money business is conducted entirely in cash no bad checks credit risks
or accounts receivable a year-round business no seasonal fluctuations of income variable hours
with lots of time off very little overhead no rent utilities etc work out of your own home instead of
an expensive office no employees to pay you can start this business part-time and still keep your
regular job paycheck and benefits laundromats are another excellent business with a very low failure
rate a recent gallup study indicated that 66 of potential entrepreneurs are held back by fear of
business failure according to laundry lux however one research indicated that laundromats had a very
high success rate with around 95 percent of laundromat succeeding after five years
again nothing in business is guaranteed but that appears to be enticingly close
this is a fantastic recession-proof business that can generate money regardless of the state
of the economy after all people’s garments will constantly need to be cleaned and dried