When you think of “profitable companies,” the big boys like Google might come to mind, but try thinking on a smaller scale. The silver lining of the tough economy was that it encouraged people to go for it and start the company they’d always dreamed about.
Investors are in a prime position to become a part of an up-and-coming company, but how do you choose a safe bet? Investing is always a risk, but you can stack the odds a little in your favor with research.
Start by knowing what some of the most profitable companies are (so far) in 2013. Slow and steady growth is the sign of a business that doesn’t just fulfill a need, but also has a strong business foundation. Getting in on the ground floor can offer a great ROI and a lifelong relationship.
Here are five companies that have really delivered this year.
1. Millennium Dance Complex
At first blush, you wouldn’t think a dance studio would be all that profitable: that hasn’t happened since Arthur Murray. However, Millennium Dance has proven for years that the best dancers, performers, and choreographers prefer this studio to showcase their talents.
In 2012, a subsidiary company was formed. They’re working on reinventing dance studios to catch up with the times. If you want to support the arts, this is the investment option for you.
The social media giant has been around since 2006, but it’s still not up for public investing. Will it follow the lead of Facebook and go public soon, or is the company taking time to learn from Facebook’s mistakes?
Consider this your “one to watch” and choose carefully when and if it does go public. It might just score a better result than Facebook.
Zipcar is perhaps the greatest success story so far involving a car-sharing service. The company just sold to Avis for millions.
Getaround is picking up steam, however, and it has a twist. If you own a car, you can “rent it out” by the hour or rent someone else’s car. The same kind of protection applies, so you don’t have to worry about accidents, dings, and scratches. Now that’s truly car sharing, especially since you can opt to get paid instead of doing the paying … perfect for those with a spare car or who work from home.
Social media isn’t going anywhere, but some critics are saying it’s about time for some big changes. The complaints are mounting that Facebook is getting too business oriented and ad-driven. All signs point toward something more intimate on the horizon.
FamilyLeaf is just for families; it offers all the same functions as other social media sites, but including a family tree feature. It gets rid of any family outsiders and puts the focus back on the family unit.
The innovativeness of car sharing is spreading, such as the ingenious creation of FlightCar. You fly into town and you need a car — and all those other people just leave their car parked for days or weeks at a high cost. When you can agree to “rent” a car from a fellow traveler, it’s a win-win.
You don’t have to deal with the hassle of corporate rental agencies and get a better deal. The car owner actually gets paid for not using his car.
If investing in a company doesn’t quite do it for you, you can always take a cue from self-made millionaire Tim Sykes and get into penny investing. If that’s Greek to you, don’t worry — he’ll even show you how to do it.
It’s no scam, because the more money you make, the more money he makes. Plus, investments are relatively low to suit your budget.