Failure rates are astronomically high amongst most business ideas. For the most part, that’s because a lot of people start businesses based on ideas or concepts that won’t last. Setting up a company that’s formed around a trend will never be fruitful in the long run.

The best example of this is in the US right now, with a lot of CBD companies fretting about regulations that could put them out of action for good. You also have other examples of companies that start around something that was popular at the time, only for the general public’s interests to wane. 

In short, the businesses with the lowest failure rates will not be trends-based. Instead, they share some similarities – as you may be able to notice when going through some of the lowest-failure-rate business ideas of all time, below: 

Commercial Waste Management

Waste management, in general, is a good industry to get into for long-term business success. Humans will always produce waste, and there will always be a need for companies to come along and remove said waste. 

We’ve highlight commercial waste management in particular because it offers an even lower failure rate than residential waste management. Why? Because local governments contract most residential waste removal companies – and some are owned by the government anyway. It’s harder to get your foot in that door, whereas the commercial side is more open and competitive. 

Equip yourself with the latest commercial waste management software to offer the most efficient service possible, then look for commercial partners. Become the company that removes waste from an office block, visits construction sites, takes waste away from warehouses, and so on. This type of service will always be necessary because someone has to get rid of commercial waste. That’s what makes it an idea that rarely fails and has a very high success rate. 

Delivery Companies

As the world becomes more engrossed in online shopping, the demand for delivery companies will go through the roof. You could even throw in the more “instant delivery” business concepts here, too – like Uber Eats, Postmates, etc. It’s an idea you can begin on your own and then grow to epic proportions – if you know what you’re doing. 

The secret is making your delivery company more valuable than others. What this means is that a business will choose you over more established delivery providers because you bring something different to the table. Perhaps this is the ability to deliver faster than others, or maybe it’s as simple as a cheaper delivery rate. 

Ecommerce will continue to get bigger, which means the demand for delivery companies will also grow. It’s a successful startup to consider, especially when you look at new future opportunities. For instance, local businesses will need to adapt to the landscape and offer some sort of online service for customers. You could step in and become a local delivery provider for these businesses, finding a nice gap in the market. 

Childcare Services

No matter what happens in the world, parents will always depend on childcare services for one reason or another. You can think of this as quite a broad business idea, encompassing things like: 

  • Daycare Centers
  • Au Pairs
  • Nannies
  • Playgroups
  • After-School Activity Providers

It’s not too difficult to reel off dozens more business ideas that fall within this category, and you can see how they suit different parents with different lifestyles. On the most basic level, a parent may need childcare services to help them juggle a busy schedule. Both parents work during the day, so they need someone to look after their young child until they’re free. 

It’s a tale as old as time and a fantastic business opportunity for those with the right skills. If you have experience working with children, this can be an excellent business idea to transition to. Perhaps you worked in a school but want to go your own way and start a business? Childcare services would be perfect for you. 

Funeral Services

As the old saying goes, nothing can be certain in life, except death and taxes. 

That brings us perfectly to the next low-failure-rate business idea: funeral services. It’s not the most glamorous business in the world, yet someone needs to be there to help people grieve. You really need the emotional capacity to run a business like this because you will see death and grief every single day. 

You also need to balance the idea of making a profit with not ripping families off. It can be a tight line to walk – though you may see success undercutting rival companies in your area. There’s a well-known trend that funeral services cost more and more every year, so if you find a way to buck that trend (while making a profit), you’ll see loads of appreciative customers. 

Barbershop

We toyed with the idea of listing a tax-related business here, given the phrase in the previous section. However, that didn’t seem right considering the rise of AI-powered accounting software, which gives regular people a chance to handle taxes on their own. 

Instead, we thought about other businesses with very low failure rates that are likely to be around forever. And so, we settled on an icon of every high street: the barbershop. People will always depend on skilled barbers to cut their hair, and no manner of technology will ever change that. You’d have to build an absurd level of trust to allow an AI-driven robot to cut or shave your hair – who’s willing to risk that? 

No, if you have the skills and can cut people’s hair, then a barbershop is a great business idea. You could even be a mobile barber who goes to people’s homes and cuts their hair for more convenience. A mobile business idea like this gives you more flexibility and can open you up to different customers – for example, you could cut elderly people’s hair or other people who’d otherwise be unable to visit your barbershop. 

What do all five of these business ideas have in common – besides having low failure rates? They all provide services that will never stop being in demand. No matter how much the world changes, there will always be a need for waste management, childcare, delivery services, funeral directors and barbers. Follow the same line of thinking to come up with even more business ideas that aren’t doomed to fail. 

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