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What are some profitable industries (excluding restaurant/retail/construction) with low barriers to entry?
What are some profitable industries (excluding restaurant/retail/construction) with low barriers to entry?
Expert Solution
If the barriers encountered in establishing a new profitable business are easy to overcome, then the barriers can be termed as low entry barriers. Depending on the type of industry an investor inspires to venture, the barriers may be low or high entry barrier. Some of the profitable industries with low entry barriers include;
- Health care facility. Different living standards and wages attract different levels inaccessibility to a facility such as health. Each and every day there are cases of ailing people are reported worldwide. Additionally, the existing health facilities rarely cater to the entire patient cohorts seeking health services. This is evident as there have been cases of a patient succumbing to illness while on long queues. Given that the health facility is accessible, has the required equipment and medicines and has qualified personnel it is good to get started.
- Public transport. Goods and services all over the world are always on the move from one place to another. However, not all the individual can afford the private means of transport hence they opt for the public means of transport which is much cheaper. In this sector so long as a vehicle in good condition is available and licensed one can venture into the business.
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