July 28

9 Profitable Industries Most Likely To Make You Rich

What industries have the most business opportunities? Check out our list as we take a deeper dive into profitable industries you can start a business in.

 

 

Most people want to make a career out of the industry they enter. Some go to school and gain a skill set to learn the ins and outs of the industry.

Every year, the labor industry reports on the jobs that are going to rise in demand. Many of these jobs are in a few industries.

For example, you’ll often hear about tech jobs on the rise and for people looking for an in-demand career to take a closer look into this industry.

However, not every person is interested in working with computers. Thankfully, nine industries are always in demand. A few of them will never lack the opportunity for a career.

 

#1. Food

Along with energy, construction, energy, and transportation, food is one of the most stable and consistent industries to get involved in.

As long as people are here on Earth, the food industry isn’t going away anytime soon.

However, as the population grows, the demand for food expands. The food industry could use a more cost-effective and more efficient way to produce food and grow it.

The food industry must accommodate for and feed about 10 billion people in 2050.

The food industry has been experimenting with artificial intelligence to speed the process of food and drink production.

We don’t mean fast food either. People have become more health-conscious over the years and seek healthier options than in the past.

Any health product that people can consume is considered in this category.

This industry could benefit from someone that could come up with a solution to produce food quickly and keep health at the forefront.

If you want to truly penetrate this industry, you’ll need to acquire a certain skill set.

 

#2. Energy

The energy industry is always in demand. We need heat, to cook, hot water, and lights to function in everyday life.

Many people often think of energy sources like gas or oil, but this industry goes beyond this.

Solar, wind, hydroelectric, biomass, and geothermal power provide us energy without the negative effects of fossil fuels.

The more our population grows, the more power we need to run our technology.

We must consider our planet too. Climate issues have become more of a focus in recent years. People want to make changes to decrease and stop Global Warming.

You can become the person that develops solutions to slow or stop this process.

This industry doesn’t just make millions, but it makes billions. However, this industry isn’t as simple as other industries to delve into. It requires you to have a certain skill set.

You may have to work with the government for certain projects and will need certain certifications and clearings.

While you may come up with solutions, you’ll need to learn what you can about the industry to continue.

 

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#3. Transportation

The transportation industry is estimated to have a worth of around $872 billion. People must travel to work or school. However, some like to travel for leisure.

The rise in the use of the internet has made people more interested in exploring the world. The idea of experiencing a new culture or a new place drives people to plan a trip or travel.

For example, air transportation is a highly profitable sector of transportation. Travel agencies realize just how important this sector of the industry is and they capitalize on it.

It’s estimated that the travel agency industry is worth around $17.3 billion.

It doesn’t end with travel agencies. Think about any time you order a product online. Before it gets to you, it must travel. Usually, this is done by plane.

However, you don’t need to get involved in businesses like FedEx, UPS, or DHL. You can get involved with the companies that ship, handle, and packages products. This sector of the business is worth around $872 billion.

Integrating technology with the transportation industry can make you millions too. Take UberEats or InstaCart for example.

This software allows people to shop online for food with convenience in mind.

People would rather order something online and have it delivered to them. This sector has grown rapidly over the last few years.

 

#4. Entertainment and Recreation

People crave entertainment. The entertainment industry has boomed in recent times because of the expansion of technology and the internet.

Big companies have noticed the increasing demand for entertainment and have joined the industry.

These companies are focusing their attention on movies, special effects, animation, and production.

With the increase of demand for consumers to become more connected, the options for entertainment grow.

For example, take the current top media companies like Amazon, Netflix, Hulu, and Disney. These companies dominate movies, broadcasting, and even cable.

Disney also has their amusement park industry.

With the rise in population, this industry will only continue to grow. It also gives a chance for “regular” people to make a profit.

For example, if you wanted to become a comedian, the path was almost impossible to reach.

Now, you can create content on YouTube and make millions from your videos and sponsorships.

This influences the industry too. As more people create content and try different avenues to make money, it changes the way they operate.

If you’re someone interested in the entertainment business, there’s no guarantee you’ll make it big. However, the industry has a record worth of 620 billion to around 720 billion.

If you can find a way to create a service or product around this, you could potentially make millions.

 

#5.Education

Since the technology era began to rise and evolve, more people have become thirsty for knowledge.

People want to learn new skills whether it’s for a job or just to expand their knowledge. People want to equip themselves with as much knowledge as they can and quickly too.

Right now, we have a unique world where people can learn in many ways compared to the past.

People can learn on the go with their phones or tablets, they can read on a book or app, audiobooks can read the material out loud for you while you do other things, or you can learn by doing.

The education industry has products and services you can use to reach wider audiences. This is mainly done using software.

However, there are two types of learning. You can learn the traditional route through a school system and the other involves alternative education.

Alternative education doesn’t always take the academic route. It can teach you things like how to lead a better life or become a better person.

To some people, traditional learning isn’t motivating and boring. It can be hard to get people interested in this style. It also lacks many life skills necessary.

For example, you don’t learn how to do your taxes or teach you high-income earning skills. Many teach outdated skills.

 

#6. Real Estate and Construction

The world’s population continues to grow. In 2020, the population was at 7.8 billion people. United Nations has predicted that by 2025, the world’s population will increase to around 8 billion people and 10 billion people by 2050.

With all the people on the planet, where will the job opportunities come from?

The real estate and construction industry has a high potential to make millions in. Think about it.

We all need somewhere to eat, sleep, entertain, shop, and more. We constantly need buildings.

To start in the real estate world, purchase a home that becomes an income-producing asset, not a liability.

This will ensure you don’t sink your money into a property that won’t become profitable over time or will make you sell at a loss.

Like the integration with technology and healthcare, technology and construction are becoming more integrated. People are investing in technologies to make buildings future-ready.

Real estate has started to change and grow rapidly in a commercial sense.

More commercial real estate companies are looking to build quicker to rent to warehouse companies and stores. They also want to build quickly yet meet their users’ needs.

 

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#7. Healthcare

Healthcare is another industry that keeps expanding and evolving. It varies across many areas. For example, think of all the aspects of healthcare.

You have hospitals, pharmaceuticals, assisted living homes, or care homes. It doesn’t end there, workers count too like nurses, aides, and doctors.

You can integrate healthcare with technology and include medical imaging, medical recording software, or robotic surgical tools.

The truth is the healthcare industry is highly profitable. Why? People are willing to spend what it takes to stay alive and live longer.

People want to stay healthy and are constantly looking for ways to become even healthier.

Now, you can get involved in any part of healthcare and you can make money. In fact, the healthcare industry is worth billions a year.

Healthcare provides a good service to patients across the board. For this reason, there’s a product or service that everyone can benefit from.

As the world’s population increases, the need for healthcare will continue to grow especially when it comes to the integration of healthcare and technology.

For example, a Forbes article on the growing industry received an estimate from Frost & Sullivan.

They believe artificial intelligence in medical imaging will reach over $1 billion by 2022.

 

#8. Technology

When you think about technology you probably consider the latest iPhone, computer, or game system.

However, you can include apps too like Facebook and Google. With all the technology available in the world, the possibilities for the industry are endless.

Businesses that expand on technology are called disruptors. Disruptors make for more competition by driving the price of a service or product cheaper and start from the market at the bottom.

This displaces established competitors.

Now, you don’t have to stay in basic technology like phones or web-tech. you can branch out into robotics, artificial intelligence, or automation.

You can even take it a step further like remaking movies with new digital technology or creation of something like Netflix or Hulu.

Technology is at your fingertips and you can constantly evolve and expand in this industry. This makes it extremely profitable in the long run.

 

#9.Financial Services

Money management companies manage money or your assets.

These firms that deal with loan associations like banks, brokerage, or insurance companies stay wealthy because there’s always “money in money.”

Think about it. You want to buy a home but don’t have the money upfront to purchase one, so you go to your bank and apply for a loan.

Each month you pay off a percentage of what you borrowed. The same goes for a car. However, once you have a house or car, you need to buy insurance to accompany it.

Each month you’re paying a certain amount based on the benefits you want like more coverage or Triple-A.

Many of the richest people in the world began their careers in money management like a brokerage.

 

So What’s Next?

Whichever industry you decide to start a business in, an online presence will be necessary in order to reach a scale that can make you rich. Start your online presence today for under $5 here.


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