Gas stations can be highly profitable in the right hands. If you can master the basics of retail, then this is a recession-proof business with consistent passing trade. Gas is not an optional good for motorists, after all, and have you ever known the traffic on our roads to do anything but grow?
The key to success in this industry is finding a business that has good footfall and the potential to increase sales with a few small changes. Consider how slightly changing the stock or the hours of a business will affect the bottom line when you are deciding whether to buy a business. Ultimately, a well-located convenience store will be a great investment if you are an independent business owner.
Running a drug store follows many of the same rules as other physical retail businesses. The owners can expect to work hard, be able to adapt to any of the front of house roles, manage stock and of course be the marketing manager for most smaller stores. Within this, a drug store owner will have the satisfaction of providing comfort to those needing not so urgent medical attention.
If you are looking for a business that will give you a constant cash flow, a laundry is a good option. Business in this sector will usually require less of a capital investment and you can run them relatively passively. Carefully consider the business’s location when you are looking for one to buy.
An online business is a great way to have a store that operates 24 hours a day, with you choosing your own hours. Many can be operated by a single person, and a lot of distributors are offering drop shipping. Therefore, you're able to focus on the running and marketing of the website, rather than managing stock levels.
The automotive industry in the US is huge and competes on a global level. This trickles down to opportunities for smaller independent businesses. No matter the troughs and peaks, there is ongoing R&D in the sector that will push it forward and create new opportunities for those operating in it.
Plumbing is an industry in which there is always demand. Even when the economy is down, repair work will still be needed. Most of the business in this sector are independently owned and so you will be in good company. This is a great option for those that want to be their own boss and be guaranteed demand for the years to come.
Businesses in this sector will always be needed. They are a vital component of our everyday life and, if you are able to find a business with potential in this industry, you will be able to grow your business with the market. You will need to keep up with the trends in the industry if you are going to keep ahead of the curve, though.
Selling America’s favourite hot beverage – the coffee shop market has grown significantly in the last decade and could still double over the next 15 years. A coffee shop is best owned by a perfectionist. Distilling the ingredients, staff and ambience into a mix that is ‘just so’ is the defining goal of independent café culture.
Owning a restaurant, in many ways, requires the same approach as owning a hotel. Every step needs to be treated as part of a performance, as many patrons consider the experience to be as important as the food. An owner will usually be working long hours, and along with the strong work ethic, they’ll need to have an eagerness to please a tendency to adapt to any role in front of them.
A motel, essentially a hotel without internal corridors, is designed with a motorist in mind. Location is still key, as with a hotel, but a motel owner chooses a location based on very different criteria. A tolerance of long hours, working weekends and out-of-season personal holidays; a strong worth ethic; and an eagerness to please are essential to the makeup of a successful motelier
A kennel business can be incredibly rewarding for animal lovers who crave an escape route from the rat race. Requiring a licence and planning permission – a major hurdle given the irritation posed by barking dogs to neighbours – this is a trade that most people enter by buying a going concern rather than starting a boarding kennels from scratch.
Hotels are the workhorses of the tourism industry. A tolerance of long hours, working weekends and out-of-season personal holidays; a strong worth ethic; and an eagerness to please are essential to the makeup of a successful hotelier. Meet these demanding criteria and you can enjoy a business where every day is different and the rewards lie in making people happy.