Search online, and you’ll come across a plethora of business startup ideas. Many of those allure potential entrepreneurs by the “small investment, high gain” idea. The truth is, even home-based businesses need a significant amount of capital to start.
Sure, the costs of incorporating a company or registering as a sole trader might be inexpensive. However, you need to pay for things like equipment, licenses, legal fees, and so forth.
Now that we’ve got that out of the way if you want to start a high-yield enterprise, what niches offer a strong return? As you may have guessed, you’ll need plenty of cash to get going. But, once you get started, you’ll soon see a return on your investment. The following is a list of eight high-yield business ideas, along with details on why they could be good for you. Check them out:
1. Freight Services
One of the best high-yield business ideas seemingly unaffected by economic events is freight. In a nutshell, this is the type of enterprise where you offer transport services to other firms. Your company could move all kinds of cargo across the country, and it can even provide international freight services if partnered with other carriers.
As you can imagine, you’ll need a fleet of semi-trucks and trailers, and professional drivers to sit behind the wheel of each one! Plus, you’ll need to negotiate contracts with your clients. In return, you could end up with lucrative deals that will help your business grow exponentially!
2. Ferry Services
While there is a good transport network in the country, there will be times where people need to cross water to reach their destinations. In areas where underground tunnels or bridges aren’t feasible, it makes sense to offer a ferry service.
Although a significant investment is needed to open such a business, the good news is that it can be a highly profitable venture to start. Take a look at http://www.nautisnp.com/passenger/ferries to get an idea of how much it costs to buy a vessel so you can offer ferry services.
3. Gold Recycling
Believe it or not, there is gold in many things that you use on a daily basis. The electronics in your mobile phone and computer, for example, have gold in them. That’s because it’s an excellent conductor of electricity.As you can appreciate, there are tons of scrap electronics out there, much of which could end up in landfill sites. By offering a gold recycling service, you can help mother nature by refining the gold from those items. Plus, the value of refined gold is just as high as mined gold, depending on the quality.
4. Printer and Photocopier Repairs
One fact that we all know about printers and photocopiers is that they are seldom inexpensive to buy. Most businesses and organizations have printers and copiers that offer advanced features such as duplex and batch printing and scanning. With such high-use devices, there will come a time where they need maintenance and repairs.
The printer and photocopier repair industries are both lucrative and relatively easy to get into. By offering your services as a repair specialist, you could start signing long-term service plan contracts with corporate customers. That translates to plenty of regular revenue, as you can imagine!
5. Commercial Vehicle Repairs
Vans and trucks aren’t too different mechanically to other automobiles such as cars. The thing is, there aren’t many car mechanics that are happy to repair commercial vehicles. Workers will need specialist training and equipment to work on some brands for a start. That’s because many use electronic systems that aren’t compatible with standard car diagnostic tools.
By investing in a large enough workshop, and the right tools and personnel, you could build a profitable commercial vehicle repair company. Businesses in that niche often sign maintenance contracts with fleet companies and large corporations for an almost guaranteed regular income.
6. Investment Trading
These days, almost anyone can get started in stocks, forex and commodities trading. A quick search online will reveal companies like IG offering retail traders the chance to make money on a variety of financial instruments.
A profitable niche market of the 21st century is, without a doubt, investment trading. In a nutshell, clients such as employers and even individuals invest their money with you for long-term profits. Your job is to grow that money by trading a variety of financial markets to return a yield commensurate to an agreed level of risk. Take a look at https://www.ig.com to see examples of the financial instruments you can trade.
7. Virtual Office Services
It’s no secret that the country is full of up and coming entrepreneurs! Many of them will wish to start businesses alongside their day jobs, while others want to begin on a shoestring. In either case, this usually means they cannot afford or do not want to lease commercial office space for their new enterprises.
A cost-effective way for many startups to maintain a professional address is by using a virtual office service provider. You would need to own an office building complete with physical mailbox facilities for your clients. Aside from holding their mail for them, your virtual office could even offer meeting room facilities charged by the hour.
8. Outsourced Call Center
It seems that outsourcing is the order of the day in the business world! You may not realize it, but many of the large companies you deal with in your life outsource their call centers to third parties. The way that it works is simple: you as a provider offer clients a dedicated contact number for their customers. When one of them calls that number, your call center team will answer each call and announce themselves as the name of your client’s brand.
Call center staff can get trained to handle various types of calls such as sales or support, and even use software supplied by your clients to log and manage each telephone call. Outsourced call centers give businesses the flexibility to grow their brands without impacting their bottom line by hiring teams of staff.