The most profitable industries 2024

The most profitable industries include:

Financials: The monetary sector leads the list of most profitable industries, with over 30% net income and gross profits for banks nearing 100%.

Oil and gas: The oil and gas industry still has high net profits, with 28.26%, and a gross profit of 58.75%. This industry might be hard to get into, however.

Tobacco: Selling addictive products pays off, with a 27.52% net profit and 61.25% gross profit. If you could start growing and selling your own tobacco, you’d probably make a killing!

Transportation: This sector is likely here to stay. Even railroads still have an average net profit of 23.52%, and shipmakers also make a great living.

Real estate investment trusts (REITs): REITs are big winners this year. They moved up from ninth place last year. Players in this industry earned 23.32% in net profit and nearly 78% gross margins.

Software: Entertainment and system applications software companies are doing well, with 20% net margins. Entertainment software has gross margins of 63%, while systems and applications have around 72% gross margins.

Investments and asset management: Managing other people’s money is an easy startup business. People with the right qualifications can tap into 19.82% net income and 67% gross margins.

Water utilities: Providing water to municipalities can earn a sweet 19.34% net margin and 56% gross margin.

Semiconductors: Producing parts for electronic equipment can earn 17.94% net profits.

Computers: With 17.47% profits, computer and peripherals companies are similarly profitable.

But many of the most profitable businesses aren’t practical for people who want successful small business ideas for business owners.

Most of us don’t have access to venture capitalists or the ability to run a business for 10 years before it starts making money. So we’re constraining our list to the most profitable and best small businesses to start