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What are some examples of extremely profitable yet little-known businesses that remain under the radar of most entrepreneurs?
Food trucks: With a low startup cost of around $100,000, food trucks generate significant profits due to high demand and low overhead costs.
Low labor costs and flexibility to operate at events and festivals increase profitability.
Cleaning services: With no initial inventory costs and low marketing expenses, cleaning services can start with an initial investment of $5,000-$10,000 and generate a profit margin of 15-20%.
Consulting services: As a high-value added service, consulting services can command high profit margins due to the expertise and skilled professionals providing the services.
Video game development: With a relatively low startup cost of $100,000-$500,000, video game development companies can generate significant profits due to the lucrative market demand.
Asset management: With a professional team and financial expertise, asset management companies can generate high returns on investment, making them a profitable business.
Real estate investment: Investing in real estate offers a high potential for profitability, with average annual returns ranging from 5-10%.
Property management: With minimal initial investment and low overhead costs, property management can generate a significant profit margin of 15-20%.
Car wash and detailing services: With an initial investment of $50,000-$100,000, car wash and detailing services can generate a high profit margin due to low labor costs and high demand.
STEM education: With a low initial investment, creating a STEM-based education company can generate significant profits by hiring experienced tutors and selling online courses.
Financials: With high demand and expertise in finance, financial companies can generate significant profits with net income and gross profits nearing 100%.
Oil and gas energy: With a high demand and lucrative oil prices, oil and gas energy companies can generate significant profits with almost 30% net profits and 58% gross profits.
Agriculture: With low initial investment and high demand, agriculture can generate significant profits with a 15-20% profit margin.
Utilities: With a low initial investment and high demand, utilities companies can generate significant profits with a 15-20% profit margin.
Niche industries: With expertise and specialized knowledge, niche industries like real estate investment, asset management, and video game development can generate significant profits.
Bridal gowns and accessories: With a high demand and exclusive market, bridal gowns and accessories can generate significant profits with a high profit margin.
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