If you’ve thought about leaving your present job to start your own business, it’s important that you select a business that can be realistically turned into a profitable operation. Recently, some experts predicted that profitibility might be an issue if you chose one of the following types of establishments noted below….especially in today’s economy.
- Restaurants: Managers must wrestle with low profit margins and seasonal fluctuations
- Direct Sales: High earners are often just sitting atop pyramid schemes
- Online Retail: Good luck competing with eBay or Amazon
- High-End Retail: The recession has thwarted conspicuous consumption
- Independent Consulting: Many consultants spend so much time scouting work that it’s very difficult to earn steady income
- Franchise Ownership: It’s a myth that franchises are far more successful than independent businesses
- Traffic-Driven Web Sites: You’ll need a million page views a day before you can make a living off advertising
So what do you think? Do you agree with the experts? Do most entrepreneurs end up launching businesses that are the cheapest and easiest to start, not necessarily the ones best suited to thrive in the marketplace? Share your comments on this subject.