What Are The Most Successful Businesses? Why?

Success in business can seem like a moving target, but some industries consistently show strong performance and steady profits. This article breaks down five of the most successful businesses: laundromats, self-storage units, accounting firms, real estate, and vending machines. We’ll explore their success rates, why these industries thrive, and what makes them low-risk, high-reward ventures. If you’ve ever wondered which businesses are the safest bets for profit, this article will give you the inside scoop.

Key Points Discussed:

• Laundromats and self-storage businesses have high success rates due to consistent demand.
• Accounting services are essential and recession-proof.
• Real estate offers stable, long-term growth potential.
• Vending machines can generate passive income with relatively low maintenance.

The Most Successful Businesses: An Overview

In today’s competitive world, launching a business can be daunting. While it’s always exciting to pursue your passion, there’s no harm in choosing a business model that already has a track record of success. If you’re looking to invest in a business with a strong likelihood of thriving, you’ll want to go with tried-and-true industries that have been around for years.

But before we dive into specific examples, let’s talk numbers. A lot of businesses fail, but not all. According to the U.S. Bureau of Labor Statistics, about 20% of small businesses fail in their first year. By the fifth year, around 50% have closed their doors. However, some types of businesses beat these odds. These are the success stories—ventures where demand remains steady, no matter the economy.

Let’s explore five of these successful business types and why they perform so well.

1. Laundromats: Cleaning Up the Competition

When was the last time you heard of a laundromat going out of business? Exactly. Laundromats are one of the most reliable and recession-proof businesses out there. People always need clean clothes, and not everyone has a washer and dryer at home. This consistent demand is what makes laundromats a fantastic business investment.

The success rate for laundromats is incredibly high, with some estimates suggesting that nearly 95% of laundromats remain in business after five years. Why such stability? Low overhead, steady demand, and minimal staffing requirements. You don’t need a team of employees—maybe just a part-time worker to clean and maintain machines. Additionally, machines can run for years with regular maintenance, keeping your operating costs predictable.

And here’s the kicker: laundromats can generate anywhere from $15,000 to $300,000 per year, depending on location and size. Not bad for a business where customers basically do the work themselves, right?

2. Self-Storage Units: Storing Up Success

As people collect more stuff, the self-storage industry has exploded. Whether it’s storing extra furniture, seasonal items, or things they just can’t fit at home, people are always looking for more space. That’s where self-storage businesses come in, and why they’re one of the fastest-growing industries in the U.S.

The self-storage business has an average annual success rate of over 90%, thanks to low operating costs and high demand. Many storage facilities operate with minimal staff—sometimes even none, with fully automated systems for check-ins and payments.

An interesting fact? The self-storage industry generates around $39 billion annually in the U.S. alone. And you don’t have to be the biggest storage facility to earn your share. A small to medium-sized self-storage unit can bring in $100,000 to $500,000 annually, depending on location and occupancy rates. Plus, once the facility is up and running, it’s largely passive income.

3. Accounting Firms: Always in Demand

Another stable industry, regardless of the economic climate, is accounting. Whether individuals are filing taxes, businesses are doing their books, or non-profits are balancing the budget, accountants are essential. And because taxes are inevitable (sorry), the demand for accounting services never really dries up.

Accounting firms tend to have very low failure rates, with over 95% surviving past their fifth year. Why? First, it’s a professional service that requires specialized skills, which means competition isn’t as stiff. Second, accounting is a repeat service—clients need their books managed on a regular basis, whether monthly, quarterly, or annually.

Not to mention, the potential for growth is high. A solo accountant might start out earning around $50,000 a year, but once they build a client base, open a firm, and possibly hire more staff, profits can easily reach six figures, sometimes even $500,000+ annually.

4. Real Estate: The Power of Property

Real estate has always been seen as one of the most reliable ways to build wealth. Whether it’s buying rental properties, flipping houses, or even developing commercial real estate, there’s a lot of potential for success.

The beauty of real estate is that property values tend to rise over time, so your investment grows in value even as you generate passive income through rent. And while the real estate market has its ups and downs, it generally recovers well, making it a long-term wealth-building tool.

As for success rates, real estate businesses that manage properties or provide rentals have a relatively high survival rate—around 85% after five years. Rental properties alone can bring in $10,000 to $100,000 per property per year, depending on location and the number of units. Plus, owning property offers tax benefits, making it even more appealing.

5. Vending Machines: A Snack-Sized Fortune

Who would have thought that vending machines could be a path to financial success? Yet, they are. This low-maintenance, high-margin business can provide passive income with minimal effort, making it one of the most surprising ways to generate steady cash flow.

Vending machines have a success rate of around 80%, and the beauty is that one person can operate multiple machines. Each machine can bring in anywhere from $200 to $1,000 per month, depending on the location and the type of products sold. Place a vending machine in a high-traffic area, and the profits can be surprisingly high for such a small operation.

Additionally, stocking the machine with healthy snacks or drinks—which are growing in demand—can increase sales and give you a competitive edge. For those looking to start a business without needing to be there 24/7, vending machines can be a great option.

Conclusion: Which Business Should You Start?

Choosing a successful business to invest in doesn’t have to be a shot in the dark. Laundromats, self-storage units, accounting firms, real estate, and vending machines all have strong track records of success. They thrive on consistent demand, low overhead, and, in many cases, offer the potential for passive income.

Now, ask yourself—what can you do today to start building toward one of these ventures? Research local laundromat opportunities, scope out self-storage facilities in your area, or even take the first step by buying a vending machine. Starting small is better than waiting for the perfect opportunity. After all, there’s no time like the present to dive into a business that can set you up for financial success!