Best 9 Very Successful Projects in 2023 WWNEED.COM
Are you looking for the best successful and profitable project? In this article, we will share with you the best successful projects according to the size of the capital, in order to increase the chance that you will find a project idea that is compatible with the capital that you have and that may be your gateway to starting a successful business.
Before that, we would like to mention the most important factors that help the success of any business:
* The decision to start the project should be based on a study of the market and demand, and not a random entry.
* The amount should not be borrowed, because the interest on the debt will weaken or kill your profits.
* Do not start your first project with a large amount of capital and do not risk everything you have.
In this article, you will learn about:
* 3 small profitable projects (less than 100 thousand riyals)
* 3 medium profitable projects (between 100 thousand and one million riyals)
* 3 large profitable projects (more than one million riyals)
The best successful project with a small capital
1- Turk Food Project
Turk Food requires only small capital and generates excellent income. The implementation of this project is no longer confined to job seekers only, but has also been invaded by professionals. This project needs good hygiene and food to achieve the desired results, and a mobile vehicle suitable for the project.
Capital: The invested capital for the project is 90 thousand riyals. The project will fully recover the value of the invested capital within a period of (4.3) years from the start of the actual operation of the project. The project needs a workforce of 2 “managers and workers”.
Expected return: The annual rate of return on investment is estimated at 27% during the first five years after deducting the total costs. The average annual revenue of the project is 230,000 riyals, and the average of all annual costs is 190,000 riyals, with an average annual return of 40,000 riyals.
2- A vending machine
Self-selling machines provide an opportunity to start a small and profitable business at the same time. The demand for such machines has become a staple in many places. One of its advantages is that no sales experience is required for the success of the project, as the machine markets itself with its products and its location, as the location of the machine is the main pillar on which the success of the project depends.
Vending machines are used for many and varied products such as coffee, drinks, sweets, ice cream, and newspapers. These devices are used in many locations and places: health facilities – colleges and institutes – hotels – parks – malls, exhibitions – government institutions and departments – sports facilities and health clubs – car agencies – petrol stations…
Capital: The capital of the vending machine project is about 25,000 riyals (prices vary according to the quality and type of the machine, and prices for one machine start between 1,500 riyals and 35,000 riyals.)
There is the possibility of renting the machine instead of buying it, and it may be a very excellent option for someone who owns a commercial activity or any store frequented by many customers or located in a tourist site or many passers-by pass by. There are specialized companies that provide these machines for monthly rent, provided that a contract is made with the owner of the activity for the location of the machine.
Expected return: The profit return in this project is excellent. After subtracting the costs of raw materials and renting the site, the net profit for the machines is high. The location of the machine is the main pillar on which the amount of return depends. Site selection is the most important step in this project.
The project achieves an excellent rate of return (40%) and an appropriate payback period (the second year). To achieve profitable returns, you will need to buy a used machine (about 5 thousand), a trusted person to help, a signed rental contract with Kahraba, in addition to regular maintenance.
3- Being a partner in a successful project
Since simple capital stands as an obstacle to opening some successful projects that require capital much greater than 100 thousand, you can enter and participate in an existing successful project. If you succeed in becoming a partner in a successful business, you will avoid risk and any potential loss. And it would also be much better than resorting to borrowing or being forced to open a small project commensurate with your capital, which means less profit.
The best successful project with medium capital
4- Commercial cleaning services company
Commercial cleaning service is a 100% profitable project, as it does not require any special skills or technical experience. Low initial investment, quick return on investment, and easy business management. Unlimited market demand for the service, no inventory or storage, excellent growth potential… are all convincing reasons to start this type of business.
All large stores, companies and institutions have one thing in common, they must clean regularly in order to appear well in front of themselves and their business partners. This fact creates the huge opportunity to get returns and profit. And the best way to market is to visit every business in your community. Explain the benefits of cleaning in general and your service in particular .. However, if you set a goal to visit ten potential customers per day and managed to win only two, you will achieve 40 new customers every month and you will be on the right path to establishing a successful and profitable business.
5. Packaging project
The idea of the project is based on packing a food product in small packages such as a kilo, half a kilo, a quarter of a kilo… and then re-distributing it. There is no limit to the products that need packaging, packaging and distribution (nuts – spices – legumes – spices and fruits – dried fruits – spices and many other foodstuffs).
The capital of the project is average enough to purchase goods in bulk, packaging requirements of bags and some simple machines, and a good car suitable for distribution.. It is possible to expand the project, open multiple branches and distribute to larger places.
The packaging sector is one of the successful projects that generate high profit returns of more than 30%. However, the strength of the success of this project depends on the success of marketing, which starts from the method of packaging and reaches the quality of the food product. One of the conditions for the success of the project is the availability of good marketing capabilities and experience in managing work in all its stages.
6- Perfume industry
Perfume is a highly demanded commodity in the Gulf society, and everyone uses perfume on a daily basis and on all occasions. While the European consumes 300 ml of perfume throughout the year, the Saudi consumes 2 and a half liters of perfume annually!
The perfume industry is one of the fastest growing cosmetic sectors with billions of dollars in annual revenue. Everyone uses perfumes on a daily basis, even people with limited incomes. This is what makes the perfume industry the best successful project for those who will first learn all the secrets and details of this industry.
One of the advantages of this successful project is that it does not require a large space for its establishment, it does not need labor, especially in its infancy, and the lack of required equipment. The perfume industry does not need huge amounts of money. It is very possible to establish a perfume factory at a cost of 100,000 Saudi riyals.
The best successful project with a large capital
7- The block factory
Block, or what is known as cement brick, is a basic material used in construction works and urban projects. The large and continuous demand for the manufacture of cement block molds makes the block factory a successful project.
The cost of establishing a brick factory varies according to the production capacity of the factory and the equipment that the factory contains, as well as the electronic system in which the factory operates, is it semi-automatic or automatic. (To see the cost of an integrated brick factory)
8- Contracting Corporation
The contracting company is also considered one of the successful projects due to the continuous demand for construction and reconstruction works, restoration and renovation with decorations and changing paints to keep up with everything that is modern and new. This sector is one of the most popular in the world.
If you are interested in this project, learn about the conditions for opening a contracting establishment, and you can view the feasibility study for a contracting establishment pdf.
Real estate investment
Relatively stable assets such as building condominiums, or buying land in steadily growing areas is a good way to build wealth over the long term. Although the majority of investments have an inevitable amount of risk and do not provide for a complete guarantee of profit, investing in real estate throughout history leads to great gains and is considered one of the foundations of solid wealth.
Conclusion
These were some of the best successful projects and there are still many successful ideas. You may be inspired by a project idea mentioned above, and you may not find in it what matches your inclinations, experience, or capital. No problem in that! Rather, you just need to realize that the best successful project is every business that either targets basic needs that have a large and continuous demand, or targets a gap in the market (supply is weak compared to demand). This article reviews 8 ways to have a successful project.