Most businesses fail the question is how can you have a business that doesn't fail we found six businesses with the lowest failure rate associated with them this is all backed by data because I think it's valid to be worried about having a business that fails I mean according to the US Bureau of Labor Sat statistics uh which sounds really fancy and official uh 20% of us small businesses fail within the first year then that jumps up to like 50% by the year five and after 10 years 2 third of all businesses have gone under that's not good odds not great odds at all so if we actually look at the data to figure out which ones have the highest likelihood to succeed then you can determine if you want to jump into those pools I always talk about the most important decision you make as the first deal you do or the first business you start because if the first one fails your likelihood of taking the risk again is incredibly diminished this is called your recency bias so if your recency bias is winning that's why we want small wins then you are more likely to go win again or take more risks if your recency bias is losing or things that feel bad you're less likely to continue to take risk so let's get to the data and see which businesses have the lowest this is going to bankrupt me potential I got six right here all right number.

SMD Screens or LED Display:
I am not talking about LEDs you are using in your home my concern is commercial display which are using for advertisement purpose. There are different models in indoor and outdoor. SMD Screen business is profitable if you start this business with any company, they are already operating in your area then you can join and learn. I placed it first because I am doing this business personally. I belongs to Pakistan If I share my business then my company is Al-Noor SMD Screens, after learning and spending some time you can start your own business if you want know about products or SMD Screens Price in Pakistan the you can see what is that business.

Real Estate:
Two Rental property businesses you know I think it was Andrew Carnegie that said 90% of all millionaires become so through owning real estate more money has been made in real estate than almost all industrial Investments combined so maybe it makes sense that they have an 85.3% success rate why is why is real estate interesting and why does it have a low failure rate well one is because again it's a simple business with hard assets so you know you have your house the market is really efficient so typically your house is worth what the market says that it is there's not a lot of room for variance there or change you typically have monthly cash flow in the form of rental income it's pretty easy to model because you know upfront I have to pay X and mortgage and I have to pay y uh from my renter and here's the delta or the difference between the two um also interesting Parts about real estate are obviously things like appreciation baked in 4% a year on average or my Favorite word leverage this is the form of mortgages right so you have the ability to use somebody else's money in order to buy uh real estate and then that also allows you to have tax benefits like 1031 exchanges where you sell to defer capital gains uh depreciation and amortization which basically are a different way for you to take write-offs on your taxes overall there's also great tax benefits to being a real estate investor only and then there's the passive component in that you could just hire a property manager there's no such thing as free money uh with no work but real estate prices are interesting if you're in the right cycle of the market now right now I think real estate's price pretty high but Falling fast I mean California today real estate prices are down like 20 to 30% here and you need to think about can I qualify for a loan can I cover the mortgage um but this success rate is probably there for all the reasons that we talked about you know even if you're making a small percentage monthly like the average rental property Nets about $462 a month so it's not going to make you a billionaire but you probably can understand how to grow the business how not to grow the business and what a good deal looks like with a little bit of work better all right.

Self Storage:
Facility if you don't like the idea of real estate investing for a multifid family let's say and you don't want to deal with 10 or trash and toilets Self Storage have less of those things they have been one of the leading asset classes in real estate since 2008 and according to a few studies one by Rhino building um these resilient businesses have like a 92% success rate one caveat here I would say though is there are a lot of these self storage facilities so will that 92% rate continue I'd want to watch what's going to happen the next couple months and years but I have plenty of friends like this guy Nick Huber who makes millions on absentee storage sit he lives hours away from here's a whole article we did on how to start and run an unmanned Self Storage business and you know what's fascinating about this asset class is advances in technology make this not only possible but pretty standard to run these things remote so basically you have keyless entry uh you have tracking systems you have security systems you have automated bill pay you have all automated contracts all of this allows people to get in and out of their units without you then there's the value ad component AKA adding things to the business to make it more valuable and efficient they're high with this type of asset class it doesn't take a ton to make Self Storage pretty interesting in fact look at what you can do if you just paint the front of your self storage unit and what the normal increase in the property value is for that so the phone has allowed us to have no manager on site needed in most ways you better.

Transportation:
 businesses last mile delivery I think last mile delivery is the biggest change in our economy in the last 10 years when it comes to transportation and Logistics with e-commerce coming along the gig economy online platforms it's more needed than ever to have a way to get the goods into our greedy little mitts and porches basically Trucking that delivers Goods or people from one place to another for a fee is transportation and Logistics we have a whole article on here on how one gent turned this idea of a short distance Trucking Company into 22 to 100 bucks a day it's really good um but this can come in many forms from like a full-fledged Long Haul Trucking business to a simple little side hustle driving for Uber on the weekends or everything in between these businesses have a success rate about 76.4% uh according to advisor Smith that's kind of fascinating because I thought these businesses would be more complex now there is a massive difference between short and long hole Trucking or shipping food from Uber and Long Haul Trucking so your results are going to vary but on average these businesses have a high success rate I think because again we don't have that many inputs I'd worry about scale giving the demand for drivers if you wanted to really create a huge Empire but as a job turned into a business this one could be interesting and relatively low risk you know you could buy a truck that's going to have an inherent value in it a little bit of depreciation after you buy it maybe if you buy it new and it's your time to start with actually running the roots or having somebody else but you don't have a lot of what's called capex or upfront expenses in order to run the business and so not only does it have a relatively low failure rate but I always am looking for how can I make sure a deal can never bankrupt me I don't ever want to do a deal where if this one deal goes sideways especially in the beginning I could Wipe Out the past 20 years of me investing and working and neither do you and that's why I like these little Gateway starter.

Vending Business Machine:
Roots so you don't need a lot of Cash 3 to 5K you buy a vending machine and get started or you're super smart and industrious and you buy a used one for 800 bucks like this you know I've talked ad nauseum AKA a lot about this and I have friends who have vending machines that vend healthy food have you know normal vending machine couple different things you need to do for IT find a well-trafficked location negotiate to put it in for you know as a service or for a rental fee then fill in venture great little starter business I wouldn't do it if I was a pro or wanted to make a lot of money meaning if I wanted to make hundreds and hundreds of thousands of dollars a year this business is probably really good for your first 20 30 50 maybe you could get to $100,000 but it's a great business to learn things like pals Logistics pricing margins managing a few contractors or running it by yourself you start small it's not going to bankrupt you figure out how the business works and then you slowly expand and this business has more than a 90% almost success rate then you could eventually have a bunch of them roll them up and sell them as a group uh like these companies do so the actual success rate for a vending machine business varies from 90% according to drop vending who's in the space or 82% success rate according to the US Bureau of Labor there're a slew of billion dollar vending companies which is interesting uh also because it does show that you can scale this space although I think it'd be a hard slog so when you combine the low failure rate affordable startup cost and simple operations of this business I really like this starter business for people who want to.

Senior Care Centres:
So this one surprised me I didn't realize that Senior Care Centres had such a low failure rate but actually it kind of makes sense for a lot of reasons one government subsidies State subsidies City subsidies that basically allow people to run Senior Care Centre like this with some help from the government two is obviously the demographics in the US are changing there's a lot of older people less young people and they need more care now originally when I thought of these ideas I was like what are some beginner ways to do this you can't buy I mean this property right here costs tens of millions of dollars you probably can't buy that uh when you're just starting out but I didn't realize that there's a ton of little houses where they actually rent a house and get it zoned properly for senior care or alternatively buy a house and get it zoned or the right certificates to be able to have assisted living there so that's why this idea is actually kind of interesting there's definitely oversight here and certifications and Zoning that you have to be aware of but you don't have to have the millions.

You can start anyone of above if you are planning to do business.