Service or Product Business: What's More Profitable?

[Spencer]

A service business is a sort of business, where you have to learn first and then apply what you have learnt and make money, it's the same as apprenticeship, where you work under someone, it's more profitable if you don't have any money to start a proper product business.

A product business is more capital intensive and the margin can be large, depending if you're buying from a wholesaler or import it.

What's more profitable?

 

[Highs]

In my thought, you have two options with respect to your business, service, or product. With a service, what you are offering is service that is tied to the time you have left for instance if you are a barber or consultant. Whereas, with a product you are involved in selling tangible items that one can use, or things such as phones, shoes, etc. Services can be less risky but need more involvement by an individual in the provision of the service. Products can become extremely huge if they go boom but require more initial investment, new ventures cannot be set without some amount of capital. But what is more lucrative to you?I would say that it depends on what you hustle best .

 

[Monster Masterpiece]

Both service and product businesses can be profitable, but it depends on various factors. Product businesses can scale more easily because you can produce and sell many items. However, they often require higher upfront costs for manufacturing and inventory. Service businesses usually have lower startup costs and can offer personalized, high-value services

It depends on the company first of all and the location of the company and also how much it is old on the business and number of concurrents companies all these factors are determinative to determinate if this service will work for them or not add to how many person ordered the service.

 

[Mika]

It depends on what kind of service or product you are selling. Apple sell products (iphones) and it is one of the most profitable companies. Meta sells services and meta, the owner of Facebook, whatsapp, and instagram is one of the biggest tech companies. If you want to start a business in a small scale and do not have a lot of money to invest, start selling digital products. You will be able to sell the same digital products again and again, digital services are also good