3 Business Sectors With True Scaleability

Businesses come in a variety of shapes and sizes, from one-person operations to huge multinational conglomerates that have an interest in seemingly every sector in the world. As an aspiring entrepreneur, it is wise to at least have an idea on just how big you want your business to be.
Would you be happy with a small, lifestyle business; one that is enough to pay your wages and afford a comfortable lifestyle, but not much beyond that? Or do you imagine yourself as the next billionaire in the making, in charge of a world-changing company that employees thousands of people from across the globe?
If you’re thinking big, then you may want to consider the options below. All of these industries tend to scale well, allowing them to grow bigger and bigger without compromising the product or service being provided. If you want to play with the big fish, then these are the industries you’re going to want to target your business aspirations in…
Financial services and insurance
The financial sector, worldwide, is almost unfathomably large. Research has indicated that financial services and insurance tend to comprise around 20-30% of the GDP of developed countries– so if you’re thinking big, they don’t get much bigger.
One of the benefits of choosing financial services as your area of business focus is the sheer variety of options. From running an insurance business to trying your luck with a stock market investment business, there should be something in this sector that appeals to everyone.
Manufacturing
By its very nature, this industry demands scale; manufacturing companies are under constant pressure to increase their output for the lowest possible price. To achieve this, size becomes one of the most important considerations.
Manufacturing is a great industry for an aspiring entrepreneur who likes the idea of tangibility; a business you can hold in your hand, rather than just see on computer screens. You will be involved in the day-to-day nitty-gritty; sourcing stainless steel washer suppliers and comparing one type of bolt with another, offering you a genuine tactile involvement in the things you produce. Many business owners find manufacturing an incredibly pleasing industry as a result of the detailed, tactile nature of the sector, and you may find that you’re the same.
Hospitality
A single hotel or restaurant is, admittedly, constrained when it comes to the ability to scale– a building can only grow so large, after all! However, hospitality is inherently scalable due to how you don’t just have to have one hotel or restaurant– you can have a chain.
Chains are some of the most recognisable brands in the world; Hilton hotels, McDonald’s, even the Trump Corporation. The hospitality industry allows you to start small, often with a single business location, and then open additional premises as and when your budget allows. This flexibility is often of huge interest to entrepreneurs for whom only the sky is the limit.
In conclusion
If you are thinking big with your entrepreneurial aspirations, then the above industries offer the best chance for a business that will meet you requirements.