In today's world, we tend to pay attention to the "sexy" startups. companies like Uber, Lyft, or AirBNB frequently grab our headlines. But there are plenty of great business in industries that most people find mundane: Laundry, Logistics, Auto Wreching, and Scrap Yards, just to name a few.
Here's an example: One of the largest Auto Wreching Companies internatonally is called Copart. All Copart does is buy wrecked cars (primairaly from insurance companies), and resell them to the public on it's website. Their average profit margin is 33%, while the average margin for a Fortune 500 company is about 10%. The Founder is a billionaire with no College education, and he's in his 70s:
I was once at an Investors Conference, and I met someone with a 10 million dollar net worth in the most Mundane of Industries: Dry Cleaning. He owned a chain of Dry Cleaners in Upstate New York, and that's all he does.
Wanna find out how to start an Unsexy Business? Check out the Channel "Investment joy" On youtube. We get to see inside the life of a man who owns a business in southern Ohio who owns everything from Real Estate to Laundrymats to Trailer parks. He definitely has over a million dollar net worth:
"Unsexy" Businesses like these are frequently ignored by the public because they don't introduce anything revolutionary to the world. But your business doesn't have to! you just need to serve a need for your community, and the money will follow. You could be doing anything from Owning Real Estate to pool Cleaning to Laundry. As long as your business is providing value to your community, you will always have customers. Dont' think you need to begin the next billion dollar company to get rich. There are plenty of other things you can do.