Whenever you think about launching a business, your brain probably jumps into something exciting. Something that is trending at the moment and carries the potential to make big amount of money. That maybe a viral app, a cool e-commerce brand, or some kind of AI-powered tech startup as these are the most trending ideas right now.
But here’s the thing! While tech field carries the highest money making and growth potential, there are some traditional businesses that are getting lost in the shadows. But they carry the potential to make millions and also lacks competition.
The service provided by these businesses are essential for proper functioning of various day-to-day activities that each and every humans go through.
These businesses sound boring and aren’t flashy at all, but that’s exactly why they work! They have low-competition, high-demand, and often required by law. You won’t see them on the front page of a tech blog, but they solve real-world problems.
So if you’re thinking about starting a business, then these businesses should definitely make it to your list of ideas. You need to have some capital to start these businesses, but after that the business will sustain itself while making profit.
1. Power Washing Commercial Buildings
In this business, you’ll need to clean exterior surfaces of office buildings, parking lots, factories and more. It’s a type of cleaning where you remove the dust and dirt accumulated from a long time with the force of water.
It can be boring for some because it’s all about spraying water on dirty buildings, but for some it can be quite satisfying as well. In recent times, I have seen these power washing short videos amassing millions of views and thousands of engagements, so it can be really fun for some.
Why it Pays Well?
This business can pay really well because buildings get dirty year around and they need to be cleaned. Because of this, you’ll always have ton of work all year around. And the service is not cheap at all, it costs a lot. So, you can make good money with it.
Startup Cost & Profits
It can cost anywhere between $10,000 – $25,000 to start this business. You’ll need to buy the equipment required and you may even need to take some sort of training to get started.
Regarding profit margins, it ranges between 55-75%. So, it’s a highly profitable business.
Market Size
Talking about the market size of this business, there are over 5.6 Million commercial buildings inside the United States alone and that’s not all. You can even sell your services to the public as well. You can help normal people to clean their pathways, garage, old furniture, stone walls and so much more.
According to a study, businesses spend an average of $2,000 – $8,000 every year on exterior maintenance of their buildings.
2. Document Destruction Services
The name can be quite unlikely but it makes money, a lot of it. In this business, you’ll need to shred or destroy confidential business documents to meet compliance laws.
This business is all about destroying paper, but you need to know what and how to destroy them.
Why it’s Profitable?
There are various laws like HIPPA and SOX that requires every businesses to dispose their documents securely and businesses can’t go against it. Most businesses don’t have the time or resources to do it themselves. And that’s why, this business is highly profitable.
Most businesses don’t do it themselves also because a small mistake can make them go against the law. And breaking the law means heavy fines and various punishments.
Startup Cost & Profits
You need proper training and proper resource management to start this business and that can cost you anywhere between $25,000 –$50, 000. But that’s an one time investment.
Regarding profit margins, you can expect to get around 60-80% profit, which is quite high in the business world.
Market Size
If an industry involves paper work (which all industry requires), then they need this service. So, the market size is just unlimited. In whatever field you go; whether it’s legal, medical or finance, you’ll find clients to work with.
3. Septic System Maintenance
Well, this may sound really gross, but we all need it. In this business, you’ll need to pump and maintain septic tanks for homes and businesses. It’s dirty but makes money.
Most people don’t want to get their hands dirty and think it’s gross. That’s exactly why this business works.
Why it Works?
We all humans pee and defecate. And that doesn’t automatically get lost after we flush the toilet. It goes and gets stored somewhere, which we call septic tank. And that septic tank needs to get cleaned every now and then and that’s the reason this business has existed for decades and will exist for centuries.
Startup Cost & Profits
You’ll need various equipment and even a truck to carry all the waste material. And to get those things, you’ll need to spend around $40,000 – $80,000 in the beginning. You can cut down the startup cost drastically by renting the waste collection truck in the starting phase.
In this business, you can expect a profit margin of around 50-65% depending on various factors.
Market Size
Over 21 Million homes in the U.S. uses the septic tank system and they all require septic tank cleaning services every few years. Even if you can get 30 customers/month, you can make a good amount of money.
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4. Grease Trap Cleaning
This business is all about cleaning the grease traps under sinks in restaurant kitchens. Yes, it also sounds gross but it makes $$$$. And that’s what we need.
It’s boring because it’s gross, it smells bad and requires a lot of work.
Why it Works?
It works because every restaurants are required to clean grease traps under sinks by law. If they don’t, they have to pay fine and face various penalties. And the competition in this business is insanely low. I can guarantee that, most of us didn’t even knew such things (businesses) existed.
Startup Cost & Profits
You’ll need to buy various equipment and especially a specialized truck to start this business. And that will cost you around $60,000 – $120,000.
Talking about the profit margin, it ranges between 65-80%.
Market Size
The grease traps cleaning industry is a $3 Billion annual industry, so the money making potential is huge. New restaurants are opening up each and every day, so this business will only grow and grow from here.
Conclusion
Chasing trendy startup ideas might sound fun, but their chances of actually making it is basically a sign to not get into such field. Meanwhile, these so called boring businesses lacks competition and carries a huge money making potential. So it’s upon you, where you want to get your hands soaked!
Remember! At the end, it’s not about how gross or boring the business is, it’s all about building a sustainable business and making money.
