There are a lot of obvious industries that make a lot of money such as financial services and real estate, but unless you have a specific set of skills or the capital to start working in these markets then starting a business in them can be almost impossible. However, there are a lot of very profitable industries to work in that you might have considered.
Video games have grown an incredible amount over the past 10 years. There was a time when it was a very niche industry that struggled to be a rival to music and cinema. However, these days it has overtaken both of them and is one of the most lucrative entertainment industries to be a part of. If you are thinking of making video games, then there is a lot of demand for varying types of game and loads of places to publish and sell your games. You don’t need to a massive budget or insane skills to make money in this industry. You do need to know how to code, but you can always do a Udemy course or find some free tutorials online. However, if you are coming from a complementary industry or job then you might not need a lot of additional training. The video game industry was worth a massive $99.6 billion in 2016 which was a 8.5% increase from 2015. Video games don’t look to be slowing down anytime soon, so now might be time to get yourself a slice of that profit pie and join the gaming industry.
From digital games to physical games, they are both doing extremely well at the moment. Board games still have a long way to catch up their video brethren, but they are currently going through a golden age. Board game sales have increased exponentially over the past few years. There are new board game releases every week and there more choice than ever. Gone are the days when board games was pretty much just Monopoly, Risk and Clue. Now there are amazing games for almost every type of person. They are being sold in major stores and are no longer locked away in dingy comic book retailers. Much like video games were 10 years ago, board games are slowly coming into the mainstream. It is expected that the board game industry will continue to grow.
Death Care Services
From making games to taking care of the dead, death care services is one of those industries that nobody ever considers. People die, that is guaranteed and this means that business is always booming. It might not be happiest industry to work in, but there will be no shortage of clients. Death care services can be found on plenty of ‘most profitable industries lists’ alongside the ones you would expect like medical services and oil/gas extraction. It has a net profit margin of 10.7% which is higher than a lot of other types of work and due to booming population levels means that there is no shortage of potential customers.
HVAC or heating, ventilation, and air conditioning are in millions of homes across the United States. Over the next 12 months it is expected that the HVAC industry will make $60 billion in revenue, the larger profit that is bound to surprise most of you. While coming up with HVAC marketing ideas to grow your business might be difficult at first, there is a wealth of marketing help, information and guidance available for free on the internet. New technology is constantly coming along to improve the HVAC industry and provide new products to customers, so this might a great sales based industry that you should take advantage of.
Warehouse and storage
When you were thinking about the most profitable markets in the world, there is probably a safe bet that warehouses and storage didn’t spring immediately to mind for a larger profit. It might further surprise you that they were ranked the 11th most profitable industry in 2016 by Inc.com. It make sense when you think about it as this includes all kinds of shipping container storage and storing items for retailers and other industries alike. Most companies will need to have some kind of storage at some point and there must be somewhere there to provide that service and take a nice profit along the way. Honestly though, you don’t need to have a massive warehouse to take advantage of the storage industry. You can do smaller things like rent out space in your home or even invest in a few storage containers yourself. This industry is booming and will probably continue to grow as we continue to need to store items throughout the world.
Outpatient care centers
The medical industry is one of those where you expect hospitals and drug companies to make a larger profit, but might not have considered outpatient care centres. These places where people go to for minor conditions that don’t require an overnight stay and while they may be part of larger hospital they don’t need to be. They are the places where tests and care is carried out in a few hours and the patient is sent on their way. These are all of course privately owned, but they make a staggering amount of money each year from treating people with relatively minor conditions (when compared to actual hospitals). While they didn’t make as much profit last year as they have in others, they are still one of the largest industries in the world.
Private education is another area that you probably didn’t expect to make of a larger profit that you would have thought. The world’s richest people pay unbelievable amounts for their children to be privately educated. This might at a board school or it might not, but at the end of the day they are paying large amounts so that their kids can get ahead in life. Education has never been more important and if you want to learn anything as a adult then you have pay for it, too. These courses contribute to this industry and make it grow.