Business is the process of making one’s living or making money by buying and selling products (goods and services). Or Simply put, it is “any activity or enterprise entered into for profit. It must not be a corporation, company, partnership, or have a formal organization, but it can range from a street peddler to General Motors.
This article will not deal with that sense of the word. We will discuss a top list of businesses you shouldn’t consider starting if you want to make money.
01 Computer Shop
There hasn’t been a lot of money in selling systems for a long time as the margins on computer equipment have continued to shrink. Computer services, such as virus removal, repairs, etc. us where small computer shops make their money from this area. But now is not the same because the market is getting saturated—and facing ever serious competition from retail chains such as Staples and Best Buy that also want a piece of the “computer help” market.
If you’re thinking of getting into this kind of business be prepared to back off in no time or operate without a storefront.
02 Web Designer
When web designing was introduced all you needed to know was some HTML and some basic design skills! But now things are no longer the same. you need to have a knowledge of CSS, content management systems such as WordPress, domains, search engine optimization, graphics software, and e-commerce platforms.
And because it’s so easy to create a blog or website using templates or applications, the days of being able to make a living creating simple ‘placeholder’ websites are gone. I am not saying that a career in web design is a bad thing.
But I am saying it’s not a good choice for someone who wants to start a new business to venture into because a lot is required. You need to have a high level of skill in web designing and you may get discouraged along the way.
03 Travel Agency
Before it was all about the retail travel agencies. But today internet has had a huge impact on the travel industry. The retail travel agencies have declined by 60% since the mid-1990’s according to statistics. Today conscious travelers get booked through online sites such as Expedia and get instant access to airfares, transportation, and hotels.
The traditional retail travel agency is becoming extinct. So, starting such a business is not encouraging.
04 Appliance Repair
As the price of appliances continues to decline so does annual revenue for the appliance.T hat is why any appliances should be under warranty, because it will be a total wast on the consumer side to spend hundreds of dollars to repair a five-year-old appliance when a brand new model can be had for a few hundred dollars more.
Most manufacturers offer extended warranties on new appliances and warranty repairs are handled by designated warranty depots.
05 Clothing Store
Starting an online store today is not actually a problem but making sells and succeeding in the business is what actually count.
For big-brand products, small clothing stores simply cannot compete with the discounted prices that large retail chains, big box stores, and online vendors such as Amazon can offer.
So if you are thinking or dreaming of starting a clothing store, and focusing on high-end brands that the bigger retailers do. will give you the best odds of success.