Top 10 Businesses That Can Make You a Millionaire: Becoming a millionaire now is more possible compared to years back. Today both young and old are joining the list of the richest depending on the demand of one’s products and services. Below we look at Top 10 businesses that can make you a millionaire.
Top 10 Businesses That Can Make You a Millionaire
1. Manufacturing
Unlike many service-related businesses, manufacturing is more capital incentive hence it will likely attract fewer people and therefore less competition. In the world, some of the businesses that have made billions of money in the manufacturing industry produce products like foodstuffs, household goods and construction materials. Although one will need to market the new products, once the products are accepted in the market then return on investment is assured.
If you are able to get into the manufacturing industry, this is one sector that you cannot go wrong. It is a business that can make you a millionaire overnight or within a short period of time.
2. Value addition to agricultural products
Did you know that Agriculture can be one of the Top 10 businesses that can make you a millionaire? If your answer is no then read carefully: A good number of farmers mostly sells their products in the primary form which means they sell at a very low price. For instance, a litre of milk from the farmers is bought by the milk processing companies at a very cheap rate. The milk process company sells the same milk packaged in bottles or packs at 100 per litre. Further value addition like the making of yoghurt means a litre of the same milk goes at a higher price. If you decide to produce yoghurt you will probably make double the profit.
If you are able to get into this market and add value to certain products, for sure there will be no turning back. You will be a millionaire within a very short period of time.
3. Entertainment industry
Some of the richest people in the world are those that own entertainment businesses like television stations, radio stations or well-branded entertainment services. The good thing about the entertainment industry is that it is wide. We have areas in comedy, video and movie production, music production etc.
If this is your passion or you would love to invest in the entertainment industry why not join it. It is a business that can make you a millionaire.
4. Banking, SACCOs and micro-finance
The richest people are mostly those who have ventured into the banking sector. In most parts of the world to venture into banking, many organizations start as micro-finance, building society or SACCOS. Currently, there are microfinance and SACCOs which are allowed by the central bank to involve deposit-taking. Well managed SACCOs and microfinance can be a good way to make that million as long as one observes all the regulations from the related regulatory bodies.
You can start small, start lending money to people and grow into a SACCO, or micro-finance later to a bank. In no time you will be laughing all the way to your bank as a billionaire.
5. Hotel Industry
Tourism has encouraged the development of hotels. Search for a good location and construct a hotel. Make it classy. Depending on your location you can make good money and become a millionaire in no time. In this case, you will need to have a very good marketing team and offer top-notch services.
6. Exports and Imports
Not every country produces what it needs. You can do Exports and Imports and you will be on your way to becoming a millionaire. A number of governments have several incentives to encourage more people to export such as tax exemption and tax holidays. To be an exporter, you dong have to be a manufacturer, all you need is to source for the market, look for reliable suppliers locally and know the correct procedures to follow in exportation.
You can also import products and sell them locally.
7. Online market platform
Online marketing platforms like Amazon, eBay and others have become the modern way of marketing that makes more millionaires. You can always sign up on these platforms and start working as an affiliate marketer. You can do this as a part-time or freelancer.
Online marketing can make you a millionaire, you will only need to get things right, connect with your audience and know what they are looking for.
8. School and University
A well established and equipped school or university is also another top 10 business that can make you a millionaire. A country’s population generally constitutes young people which mean more young people are likely to give birth hence increasing future demand for education. Since the government cannot meet all the demand, having a good school/university especially for the middle class will bring in substantial income.
You can start small and expand your investment with time.
9. Contractor/ Consultants
Another way to become a millionaire is by becoming a contractor or consultant. Contractors/ consultants working for both government and private companies have made millions by constructing roads, building and even by offering consultancy in finances, human resources or marketing.
10. Land resell/Real Estate
Land resell/Real Estate is one of the fast-growing industries. Whether you want to venture into buying and selling, or acting as a broker you will not go wrong with real estate.
Everyone has the urge to own a home or land. More and more people are buying land to build their dream homes. You can get into real estate, buy land and resell. You can also build houses and resell them.
Conclusion
Looking at the top 10 businesses that can make you a millionaire makes it clear that there is a difference between working hard and working smart. There are people who have been involved in some of the businesses mentioned above but they have never become a millionaire. On the other hand, some have become millionaires by doing the same thing. It’s important to understand the approach you will use, know your target market and above all stay focused.
