In my opinion, the most profitable business is the food business. It is never affected by recession and inflation, the demand will never go down, in fact it will always go up (because of the increasing population). It is not just a necessity, but also a luxury (because food is one of the pleasure-triggering factors) and people eat foods not just to get energy but also to enjoy. Sadly, if you take a look at the billionaire club, many people are not directly linked with the food business.
What do you think is the most profitable business?
- Thread starter nomad
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I think the most profitable business is the business of dealing with household main equipment and tools used in the homesteads. For instance the selling of home electronics, water storage tanks, kitchen utensils among others is very profitable indeed.
Based on my country's culture, the most profitable business has to do with the beauty world, especially hairdressers and mostly nail art shops (well, barbers too). People here can't live without regularly going to a nail art shop and there are enough women who spend a fortune on hairdresser's. Such a business will never fail in my country, overcoming even COVID years.
There were some kind of businesses that were flourishing during the pandemic as well. Having said that, some businesses such as medical businesses were flourishing a lot. At that time, people were afraid to invest in new businesses and they were considering the demand and supply of the product before they think about investing.
Yes, selling protecting masks and gloves during the worst COVID times, surely was a profitable business (in my geographic area, in any way, it was drugstores and mega-malls the only masks and gloves sellers, not the small entrepreneurs). Hairdressers and nail artists only closed during the worse pandemic months, but here they count on the habit to go to their customers' house to work, when their beauty parlor is closed.
