As someone who teaches others how to spot and take advantage of profitable business ideas, I’m very particular about the businesses I venture into.
I got into business a few years ago through my online business, and the profit margin witnessed from my online business was so astronomical that I made up my mind not to go into businesses that aren’t very profitable.
By rule, I only invest in businesses with a profit margin of up to 100% typically within a year or two; I can make exceptions and invest in businesses with a profit margin of around 50% if it requires large capital upfront and can yield returns within a short period of time (I mean, months).
That said, from my experience in business over the past few years, here are some highly profitable business ventures you can get into today; pretty much every business venture featured on this list has the potential to make you 100% profit, often within a few months of getting started, and I deem them some of the most profitable businesses to start.
1. Catfish Farming
Catfish farming was basically what kick-started my passion for offline businesses when I realized how profitable it can be.
If done right, a successful catfish farmer can expect a profit margin of around 50 – 100%+ within a period of 6 months.
Having solid understanding of the field is essential, though, especially considering the fact that there are a lot of factors involved; this includes having the right pond setup, getting your catfishes from the right sources, giving your fishes the right feed and availability and price of feed ingredients you will be giving your fishes.
Most people who rush into the catfish farming business record heavy losses, but people who take their time to learn the rule of the game see massive profits.
My series on how to start a catfish farm business is a massive work in progress aimed at helping you start a profitable catfish farming business.
2. Real Estate Investment
I haven’t written about my real estate investments on this blog, but I will in due time.
When I talk about real estate investment as a business model, I’m talking specifically about investing in lands.
Over the past few years, I have invested in acres of lands in multiple locations over here in Nigeria and I’m very happy with the prospects of what I’m seeing so far.
At a point in 2014, I bought a land for approximately $5,000 and later sold the same land for around $7,000 within a few months; the land was in front of an express here in Nigeria, alongside the Apata – Abeokuta road in Ibadan.
Other lands I have now that I bought barely a year ago have doubled in value, due to constant development happening in the area they are located in.
Land is especially a good form of investment in developing nations, especially here in Nigeria where I’m from.
In moving with a very good friend of mine, a lawyer, who has decades of experience profitably investing in real estate, and who has helped and guided me with some of my investments, I learned that there are 3 forms of real estate investment:
Short term: This is aimed at buying real estate and selling as soon as possible; often within months of buying, with the aim of recording minimal short term profit that can easily be reinvested into other real estate, and you then repeat the process.
Basically, a land you bought for $5,000 could be sold for $5,500 in 3 months time, reinvested in another land bought and sold in the same way, etc. Your profit and interest compounds over time.
Mid term: This is aimed at buying real estate, selling part of it on the short term to enhance the value of the remaining real estate through development, and then selling for high profit on the mid/long run.
Example: If you buy an acre of land for $5,000, you can sell 4 plots for $5,000 in about 6 months, to someone who can develop something on the land, covering for your investment in the land. You then wait for a year or two, in which development by the person who purchased the 4 plots has significantly increased the value of properties in the area, especially the remaining 2 plots you have that is right beside his land. You can easily sell the remaining 2 plots for $5,000, the initial amount you bought it, resulting in a total profit of 100% within 2 years of buying it.
Long term: This often isn’t as profitable as option one or two, but it’s a good business model if you feel land you bought will massively appreciate in value within the next 5 – 10 years, or more.
The idea isn’t aimed at selling land per say but at increasing your assets, since land will almost always appreciate in value in most parts of the world.
Consulting is a very valuable business model because it doesn’t tie you down.
As a freelancer, you mainly have to execute tasks and there’s only so much you can do in 24 hours; as a consultant, you offer advice to other people that can execute it.
No matter what skills you have, you can work with others as a consultant; if you have specialized knowledge as a farmer, consult with farms and Agric businesses to help them get better results. If you have specialized knowledge when it comes to marketing, work with organizations to them increase their reach. You get the idea?
4. Watermelon Farming
I was discussing business ideas with a friend of mine who is a journalist with a major newspaper here in Nigeria yesterday, and he talked about how profitable watermelon farming can be.
According to him, based on his findings, an investment of approximately $200 could result in around $1,000 within 3 – 4 months.
I was wowed when I heard this, and while this isn’t a business venture I have first hand experience with, I’ll definitely be learning about it and venturing into it.
I also did my research about watermelon farming online, and the results my friend mentioned doesn’t seem to be exaggerated.
Rest assured, when I do venture into this business, I’ll be sharing how I go about it on this blog.
What Other Profitable Business Ideas/Ventures Do You Have?
What are the other really profitable business ventures, potentially yielding 100% profit or more, that you are aware of? It doesn’t matter whether you have first hand experience or not, please share your ideas below.