Choose Wisely! 6 Very Profitable Businesses to Start
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- čas přidán 3. 06. 2024
- If you've thought about starting a business or even if you're in business, you will know it's really tough. But how do some businesses seem to make more money than others? It's all about having a great model. In this video I share 6 very profitable businesses and why their models are set themselves up for success.
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Who am I?
My name is James Sinclair and I'm the founder and CEO of The Partyman Group of Companies. I started building my business when I was just 16 as a family entertainer after that I built up an entertainment agency, then moved into building a leisure and day nursery businesses. Today we operate a £30 million business which includes leisure, childcare, outdoor attractions, commercial property, arts and crafts manufacturing as well as one of the UK’s oldest Ice cream companies; The Rossi Ice Cream Company.
#business #entrepreneur #businessowner
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1. Child Care
2. Food Services
3. Contract Catering
4. Commercial Property Rentals
5. Wholesale
6. Commercial Hygiene + Waste Services
7. Professional Services
Cheers mate 🤠
Thanks dude
Thanks
DJ. Apart from transport cost and initial outlay pretty much 100% profit.
thank you !!!!!
Number 8. Conferences telling people how to start and run a business. Never any shortage of consumers.
😂 Aye, fair.
😅😅😅😅
aka grifters
@@maxwellboyne2770 simple, ask yourself a question if you were a businessman would you train or help your competition.
Problem is, to have credibility you to have success already..
Our friends had a Chinese restaurant in a very upscale community. People were driving from miles around to go to this restaurant, and they did a lot of take out/delivery. Then a national restaurant chain bought out the strip mall where their restaurant was located and they turned it into the godsend they needed. They rented a storefront in an industrial area, and made lunches. They got several contracts for business meetings/lunches from large businesses. (They got these contracts because they were feeding these executives They hired some Chinese grannies to make organic spring rolls and samosas that they sold all over the province. They worked 8-4, had weekends off, and were able to live a normal life again.
Great ideas. When I was young (40+ years ago) I started my own business and had all the confidence in the world. Now happily retired I still keep my eyes open for business ideas. What I have noted is that I am far more cautious in my evaluations as I know how hard it is to make things happen. That said, I would encourage any young person with ambitions to own their own business to work in that industry for a while to see just what it involves. Then they would have a much clearer idea of how to run their own.
Take the leap. You can always bounce if you crash but a leap not taken can keep you on a boring path.
💯
What business did you go into?
I did childcare here in the US during the 70's and 80's it was very profitable. The idea I came up with along the way is "Parent's Nite Out" pick a regular evening during the month or perhaps provide this service on the weekends. The kids are dropped off about 5-6pm provide a party atmosphere, games, movies etc. and the tykes eventually go to sleep once they conk out. Feed the kids breakfast and parents come and pick up their kids in the morning about 9am. I did this mainly on New Year's Eve and was very successful with it. Just throwing an idea out there. I'm retired now.
Thanks I like that very much..
You don't have to get a license for that?
It depends on your governing authorities that license home daycare facilities. I was told when I inquired about it ( years ago) that a license was not necessary because the activity is periodic and you are not babysitting the same kids on a regular basis but perhaps laws have changed since then so it is best to make a phone call to inquire if licensing is required. However, to protect yourself I would have the parents/guardians sign a release of liability for the evening and I would have a video camera rolling to record the activities in the room. I would have the parent's bring the kid's sleeping bags and I would provide floor mats.
Our childcare (in Australia) did this on NYE and once in July. If your kids were already enrolled you could sign them up for it, additional cost to normal fees. My 2 LOVED it and we were happy to spend the money since it meant we all had a really special night.
When our child was a toddler, we took her to "parents night out" at a place that had a daycare during weekdays and taught classes in the evenings
I have been in business for about 8 years. it's so nice to see someone worth listening to. With no BS. Thank you
GLORIOUS ADVICE!!
just as in the old saw, "If you want to make a little money in business, first start with a lot of money."
1. Child Care daycare
2. Food services: supply restaurants
3. Contract catering
4. Commercial property rentals
No. 4, right up until everyone works from home :)
Commercial properties are falling off a cliff.
2. Pretty ironic, considering that restaurants are terrible businesses. (:
@@andrewallen9993Office buildings aren’t the only commercial property. I’m sure storage facilities are doing well
@@BELIKEJUATER commercial is office, warehouse, manufacturing and retail so that's 3 out of 4 :)
I used to watch James years ago. I’m so glad he popped back up today. Great guy.
Love this James....hope to catch you one day on my many visits to Rossi
Business that never fail. Wow, not misleading at all.
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Not so sure about commercial property rentals... Increasing amounts of empty space - many reasons, but the signs are not good for most commercial properties. Too risky when one considers future trends in employment and lifestyles.
Thank you so much ❤
Sending prayers and positive vibes to our country during these challenging times. It's crucial for us to show compassion and support to those who are facing homelessness. Together, we can make a difference and create a more caring society.
My greatest concern is how we can recover from this current economic and global challenges, especially with the political power tussle going on in the states.
I am aware that continuing to invest during periods of volatility can be a smart way to build wealth I've heard testimonies of people accruing over $250k in this red period. What measures can I take to achieve this?
@@Bradfordleo134It seems like you have knowledge about trading. It's advisable to started with $20k to $30k in period of 3 to 4 months? But I'm scared due to market risk. And I don't wanna miss out due to ignorance I need advices.
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Just watched the always fail vid. Here for the good stuff now. Thanks!
God bless you sir, very helpful video!
Absolutely like how he transformed the 'boring-est' business ideas into the most fascinatingly enthusiastic ideas that I'd never think of... A different way of thinking of such businesses:
Thanks for a great video and explanation i m really learning a lot from you
Glad to hear it!
Brother. This is amazing content !!! Thank you
Thanks so much for watching!
Just because a business model is good doesn’t make it easy! Childcare for example high liability, I’ve heard stories of one kid biting another kid literally all day (lawsuit) peanut allergy death (lawsuit) babysitter abusing kids (lawsuit) especially here in the U.S. a very litigious society. Great video! Either way.
I have a friend who has never paid herself in 20 years. Impossible business model, childcare, unless perhaps on a very small scale in home service.
@@tellmesomethinggood. yeah, that’s not a business nor a job that’s a torturous hobby.
child care also has a lot of government regulation and oversight that can make a lot of red tape
@@tellmesomethinggood. "I have a friend that did not have the skill to make it work" =/= impossible business model
James, you're awesome - thanks for sharing
Another great video. Your insights really help me to keep moving forward thought the build up phase.
Thanks for the info James 🐐
You are an impressive entrepreneur. Thank you, from the USA, for your videos. God bless you.
Really interesting views, i live near Blue Boar and will be in to have a look soon
How serendipitous. I’ve built my Amazon business (on your naughty list) up to $5m in sales, and am now starting a professional services business (on your nice list) serving other eCom sellers. I suppose I’m graduating!
I don't think he's saying putting a business on Amazon is bad. The important thing is it's not large enough ($200m+) that Amazon decide to take your business by selling their own-brand version of your product.
@@Patangy correct, he sells on Amazon himself. The dicey model he’s discouraging is one that depends 100% on a single online marketplace like Amazon for sales traffic
@@matthewchandler2647yep don't put the whole eggs in one basket 👌🏼
Can I ask what professional service business you offer now?
Another great video James! I’m in Niche Wholesale and would love for you to talk about cashflow in a business like this. I know there is a lot I have to learn 🙏😊
Thanks❤
How can one determine the viability and potential profitability of any of these business ideas before they start?
Very interesting video bud! Something to take on board for sure! Not that spelling of wholesale tho 😄👌
Great James thank you
#8. Start a church. Services can include Revelation for Rent, redemption packages sales, soul storage places on lease. Become a spiritual barrister, represent your clients in the Heavenly Courts.
Best job, self employed IT consultant. I have been doing it for eight years. I have no costs for office, no overhead costs like sales, HR and other shit, still set of money for pension, all insurance. I need to work 10 days a month to pay my salary, the rest is profit, slowly building capital. Invested so I can retire at say 58 :D
I can employ other consultants if I want but it is not my dream. I just want to work in the industrie I like, take a lot of time off 9- to 0 weeks off. :)
Classic quote: ""Life Moves Pretty Fast. If You Don’t Stop And Look Around Once In A While, You Could Miss It."
Yeah IT contracting is dead thesedays
Well explained James!
Very good. I retired from the Fire Service and fell into window cleaning well the old window cleaner did. Couldn't get anyone so I had the ladders and decided to buy a £80 starter kit. Within a week I had made my money back and picked up a customer a day and it grew and grew. Really strange because I have a trade in joinery but made more money cleaning windows. Then expanded into cleaning business and as they say the rest is history.
This is amazing info, thank you!
Glad it was helpful!
Your videos are fascinating. Very easy to watch and understand. I’m not even in a position to start my own business yet but I’ve found myself watching one of these a day 😂 keep it up!
Which country are u from
nIce really informative
Your videos has been great !! I am part of your viewers and i’ve been watching your videos lately. I’m interested in investing but I still can’t figure out the right investment to engage in . I’ll appreciate any help out here
Yes, it's true, there's been a lot of talk about investing lately, but I'm new and also curious how I can get started. Can anyone explain how to invest and how to get started ?
In my opinion, investing is not about getting rich but about gaining financial independence. You need a financial advisor to help you become a professional investor. I became successful by following the instructions of my financial advisor (Nicole Brusher) who resides in USA. So far, I’ve no regrets.
Amazing, such an amazing information you got. Can you share more details on how to get in touch with your Financial Adviser? Like I said , I’m very interested and will start if I can get help out here.
She's on inst 'gram
It's great to come across this information. There are many ways to get rich, but without the knowledge and guidance of a financial advisor, you make bad financial decisions. I work with Nicole Brusher and now I say to anyone who wants to listen; "If you don't invest, you will regret it later in life."
Best thing about your vid's, you are so open with figures and facts
5. Niche wholesale
6. Hygiene / waste services
Really enjoying your videos, James. Thank you. Do you run your courses online? I don't want to come down to Londonistan.
Yeah! We have the entrepreneurs university which is a platform full of training videos which go into more detail that here on CZcams. There’s a link in the description for a free trial 👍🏻
Any thoughts on starting over? You're back to zero but with the knowledge you've gained over the years. Where / how would you start to rebuild again?
I'm right there with you, brother (or sister!). I hope he responds.
My single piece of advice,don’t take rest,if you take it too Long to star again,you will lose courage,energy and power to do.
I live near a tourist town. There are entire blocks of vacancies in the business district.
theres no money in child care. my mom did it for 18 years just so she could be home while we grew up. too much compitition and more regulations now days. no barrier to entry. only get $2 an hour per kid and have to have an employee for every 5 or 6 kids now. cant even pay min wage.
You are like Alex Hormozi. Incredible value. Thank you
Very kind of you to say; he’s a good guy!
Not as hairy
Obvious but valuable advice, look at the MODEL: regulated, cash up front, easy exit, low ish capital intensity, other people’s money, scalable I ran a successful small business but my model failed on a number of criteria. I note that these businesses are relatively AI proof at least in the short term.
Amazing
Would you consider live music a good professional service to get into?
Great stuff James, great targetting. So many tiny businesses are outside that and their owners work hard for very little. Sad..
What are your thoughts on vending machines in niche markets
downside to hygiene and waste services is that when you tell people you work/ own a business like that they think you're in the mafia.
That could be a good thing. If they think that you’re with the mafia no one messes with you.😆
without the makings of a varsity athlete...
"My line of work? I operate a local cement business" Run, don't walk. 😂
I own this, and this and this business I have, and a seminar and a CZcams channel along with teddy bears business 😂. Omg chill. How much does one need? Maybe he is just ocd
In any case: I liked it. Cool tips, good analysis.
James, i'm a 28 year old with 14 years of experience in the recycling industry, yes I started young. Have built an asset net worth of 7 figures, now founding a startup to build the foundations for what I believe will be a billion £ waste disposal company within 20 years. It blows my mind how little interest this sector gets, everyone seems happy to look down their nose at anyone dealing with "rubbish" without understanding that quite literally everything has value. Do you have any advice with regards to finding investors who specialise in this sector? I'm putting a pitch together with my cofounder.
tell me more, do you have a youtube about this industry?
Logistics is usually the biggest issue with the "everything has value" statement.
Getting stuff from A to B, and then from B to C, etc can get expensive. Hence a lot of rubbish stays keeps it's status as rubbish.
The upside for you:
A recycling business can always draw from a whole basket full of buzzwords many investors love to hear. Every business that can be sold as green/ eco-friendly / etc has a good chance to get investements regular old companies can only dream about.
I’ve just stumbled upon you recently James and I genuinely appreciate the videos. Loving them. Especially this one where you validate things I’m already doing. However….update things. For example, AI will take away the ‘professional services’ you describe…within 2 years max. If you could get into the 2020s you’d be a £500 million investorpreneur.
Could you explain to us the business model of Red Bull? I love mountain biking and hit the trails regularly but that drink is awful! Water is enough. Eat a protein bar or a trail mix.
Yet they are a sponsoring giant in extreme sports, as well as football. How do they do it?
In Alan Sugars book, says he put all Amstrads profits into commercial property, now worth over £1BN
A daycare centre run by investors - what could be better for the children?
The people who own the daycare don't have to be the ones running it daily.
it's very interesting how different business work better in different countries.
I dont know why, but in the US these "borin business" proponents are push laundramats, parcel shops, DIY car washes. In the UK with the cost of land and business rates, these businesses might make the owner a living in they work inside it. Certainly wouldn't make them hands off passive income.
In the UK laundramats or launderettes as we call them only really work in student areas. Most rental properties here normally come with white goods (fridge, washing machine etc). The new modern student housing market which is booming now include white goods and most of these older student areas were sown up years ago by launderette owners. Haven't seen a new one open up in decades.
In the UK again a lot of car washes are ran by foreign criminal gangs using modern slaves/illegal immigrants. They are tolerated and the British on the whole look the other way as they want their cars washed cheap. They even undercut the automated/self serve car washes. It's not something a respectable business owner would want to get involved with.
There's a dark underbelly to a lot of UK businesses (car washes, nail bars, barbers, amercian style candy shops) that I suspect wouldn't be tolerated in the US unless you want the FBI smashing your door down. We don't really have an FBI here and our police don't see this type of crime as a priority. So it's the wild west. Probably why James likes heavily regulated businesses like childcare where you couldn't get away things you can in other sectors.
Parcel shops, this need is taken care of either by our post offices by in large or the large 3rd party parcel groups where you can drop your parcels off at supermarkets or get them collected.
So basically none of the businesses you mention really work here unless you have a time machine, want to exploit illegal immigrants/modern slaves or have tens/hundreds of millions and willing to start you're own parcel delivery network. The UK isn't as open to business as the US is sadly.
Good video! I think I’d argue that all of those businesses would be key man driven. Especially the nursery’s and once they fall foul of ofsted it’s a slippery slope
cafe 👍🏻 my dad always said even the working class have to eat 🤷🏼♂️
1) Greggs
The man is standing bang in front of the answer at the start. Steak slices are oozing cash!
Good morning
Do you think the fire safety and security industry is a profitable sector, if so what’s the best approach to find an investor to help grow the business to the next level.
Thank you
I don’t like home and number one but I also learned you can’t assume and you definitely can’t weigh in til you’ve heard the words
At the very least, I now grasp the concept of leverage.
Creating
Most people simply enter the foreign exchange market without comprehending matters like this.
The first stage in building money is determining your goals and risk tolerance, which you may do on your own or with the assistance of a financial counselor who works with a verified Finance agency.
And also you can learn the facts about saving and investing and create a clear plan, you should be able to acquire financial security over time and enjoy the benefits of income management
That is why I work with John Desmond Heppolette, who introduced me to a better Financial community, a verified agency where I learned how money works and how to create it, as well as free books, courses, and daily lectures. You also get to meet new people, which was the best decision I ever made.
You are correct! Working with a financial advisor who has worked in a solid financial firm for a long time, such as John Desmond Heppolette, will actually set you up for success in life. I'm delighted I was able to reach out to "John Desmond Heppolette " earlier this year because while others were grumbling about the downturn in the markets due to the state of the economy, I was busy learning from him and eventually made over seven figures in the first quarter alone, which is why it's always good to join the correct community.
Yeah real, that guy is one asset manager that gives the breakdown of everything on how things are done, joining an effective financial community can be 100% beneficial when joined properly that's all I can say out of experience
Childcare and Commercial Property will depend highly on the country you operate in.
Childcare in Asia is dropping fast because people are not having babies. Schools are closing down or merging with other schools due to lack of children.
On the otherhand, childcare is australia is absolutely thriving due to massive government incentives and so they charge an arm and a leg.
However commercial properties are becoming worthless here due to massive amounts of empty office spaces due to wfh, to a point that even pension funds have completely dropped commercial properties from their portfolio.
Market and location will dictate what is going to work or not
What about hair and skin industry or a teaching agency
Just the content ive been searching for 😎
one time my pweenis, got caugh in the escalator, and when i got to the top it rolled back under and that was a learning experience.
Thank you for sharing. Financial education is vital these days and buy and hold strategies may not be effective. Fergus Waylen's course taught me a lot about trading and improved my finances. Using trade signals can produce competitive returns and stability. The timing of entries and entries helps the investor stay calm. I've made more money and seen positive results since I started!
We can all learn a thing or two from Fergus Waylen himself; his profit techniques are phenomenal. Thanks to him, I'm making more money and getting richer.
Even though the stock market looks bearish and market sentiment is low. But he keeps us grounded through his real analysis, the facts in the charts.
What impresses me most about waylen is that he does a great job of explaining the basic concepts of winning before he actually lets you use his trading signals. This goes a long way to ensuring winning trades!
How do I find him?
Search his name
What are the pros and cons of senior care facilities as they are called here in America relative to the context of this video?
I'm probably your 47K-th subscriber, will wait few months to reach this to become 4.7 million subscribers. Very practical and good insights
Thank you for joining us. I appreciate you saying such optimistic thoughts about the channel!
Parking lot in a government town/city. You are working 9 hours a day parking cars and then have a meter in the evenings for the rest of your business. Sub-contract towing companies for illegally parked cars or have bi-law officers ticket those that don’t pay.
Paved surface, automated parking meter, yellow lines, good lighting, security cameras and a small both is all you need. Low taxes since there isn’t any permanent buildings on it.
1mil with 20% profit childcare facility is possible, but it takes YEARS and luck to do it. I've been working in this industry for 11+ years and only saw one facility like that.
Therefore I assume it means a chain of facilities (not one). Then, it makes more sense.
But in this case... Is there any developed economy where this market is not (over-)saturated?
Italy, but the reason is it’s very regulated
I would love to learn from you i have big dreams no idea where to start I am doing courses in beauty and hair to start my dream
How about medical oxygen company? They would be required on a day to day basis, right
Those might or might not be good ideas, but A) you definitely need experience in all those fields and B) for most ppl they are not engaging.
My recommendations:
1) Manufacturing wigs for snakes.
2) Insect funerals
3) Grandfather taxidermy.
4) Sewage farm theme parks
5) Mobile nostril washing services
6) Boiled egg throwing tuition
I’m surprised funeral directors is not on the the list, you’ll never run out of customers
True people are dying to be your customer
@@ebutuoy4811 Dark, but funny
Unless you’re in an area of predominantly young people. It happened to a funeral home near where I live. They left and now it’s been converted to a physicians offices.
many players
You can always run out of business... All it takes is some competition.
Beer wine and liquor store might have possibility. Although big grocery chains and a few beverage chains are out there, a friend of mine told me people always drink when times are good or drink when times are bad. He retired opened a liquor store and has never looked back. Of course the UK has pubs, USA doesn't.
If by "pubs" you mean bars, the USA definitely has them. There are 5 within a 2-5 minute walk from my home. There are also 5 liquor stores within a 10 minute walk. All the bars and liquor stores are very successful.
@@MK-hh1vo true, as I said alcohol ranks up there IN a successful category. However, American bars aren't anywhere close to the ambience of a local pub, you have to experience it to understand.
Sounds to my like James is selling himself and all is amazing ideas !! ;)
Hm. The market for commercial leasing and real estate is in a bubble. People are starting to work from home more and leases have way outpaced business willing to pay. Especially in the US and more so in urban centers.
I've worked as a software engineer in the digital marketing world for a long time now and I just realize...I can start my own business. I'm good at what I do, so why not try? Super low overhead and low capital requirements.
Im going to have to disagree on the wholesale food niche. Its too much headache for small margins. Contract catering is solid tho.
I’ve just come across your channel James and it’s great ,your enthusiasm is infectious ! With your food business I wonder if you’ve plans to complete the circle and become a farmer like me 😂Seriously though it would be interesting to hear your thoughts on a business like mine (dairy farming ) that’s production focussed ,I only have 1 customer for 80% of what I produce .
I have a strict rule. No one customer should be more than 10% of your revenue.
Dilute their dominance over you. Get more customers.
“A little bit of money, from a lot of people, a lot of the time”
@@JamesSinclairEntrepreneurThanks for the response ,and sound advice but the structure of mine and probably 90 plus % of other dairy farmers is we produce a perishable product that needs collecting at most every other day,we sell to dairies and they’ll process and sell on as liquid cheese yogurt etc to supermarkets & wholesalers it’s an efficient model but we have to focus on the cost of production at our end as we have little control over the price we receive.
I’m making sure to concentrate on that and have added on other business inc a farm shop & cafe ,caravans & camping,and industrial units so loads of relevant content on your channel & podcast.👍
@@rpark8265Do you follow Tom Pemberton by any chance? They seem to have nailed multiple income streams and direct to consumer sales, at least looking at it from the outside.
Check out Young’s Jersey Dairy in Ohio. You might glean some ideas from their business model.
@@fretworkband3204 Thanks
could you make video on self-publishing book business?
Which country are you in
@@user-sp8fz8cz6m indonesia
Niche Whoelsale? LOL .... how about a spelling police business? Any money in that? 😍
Hello James, i would like your opinion, one thing i have always had an issue with when it comes to day nurserys, is the safety of the children, and staffing concerns, isnt it a very sensitive business from the human resource stand point?
Hugely and it’s a very good point.
It’s not easy. But nothing is.
@@JamesSinclairEntrepreneur thank you once again for the reply, keep up the videos!
You just have to use common sense and many attorneys have a database of everyone that has ever filed a lawsuit. You can refuse service to a parent that has ever filed a lawsuit for any reason.
@@angelofamillionyears4599 common sense is not common, the hall mark of learning is humility.
@@fatboywins True !! Please read the # 1 best seller VIRUS MANIA!!
None of that works for me, but great video anyway, at least helps you think differently about things.
In the US:
Used car dealers.
Logistics
Multi family unit Landlords
Oil
Energy
🔥🔥🔥
Please James consider to be uk's next prime minister. This country needs you more than ever. No one should leave and open business somewhere else you have to stand and fix the system. Please consider this...
James, can I ask on the childcare piece. A lot of publicity on closures due to underfunding by the government, what’s your take on that?
Thanks
Car wash, Pizzaria, laundromat in a college town- in one plaza.
Actually, the most profitable UK giant is at 0:01 - GREGG'S smirking like a silly sausage roll behind us all.
Great content! Any chance you have a video on how to let others run your business instead of yourself?
No need for a video - I will tell you how it works, for free.
Get employed, or become wealthy enough to hire the right people, to run the business for you.
As a complete noob, is there an effective resource/website for finding businesses for sale?
Perhaps consider franchising.
there is (sorry I forgotten the name,if I remember will write it here)
@@zizi8675 That would be fantastic, thank you.
I forsee a massive boom in Child Care businesses in UK ;).
Whoelsale! Someone else wrote up his signs for sure.
😂 CZcamsrs sometimes make deliberate mistakes to provoke a reaction in the comments! Helps with the algorithm 👍