7 Profitable Businesses in Iran

The profitability of any business depends on various factors and is usually directly related to the public demand for the desired goods or services. It is evident that different factors such as geography, economy, culture, etc., influence the type and amount of demand in different countries. Therefore, what is important is considering the basic and necessary needs as well as the secondary but important needs of the people in the country you have chosen for investing in a business. Additionally, it is essential to consider the level of competition in the market because no matter how many businesses there are, some always have sufficient demand, but others have essentially expired and the market is saturated with them.

Furthermore, a precise definition of profit and its difference from income will be provided, and factors affecting a business’s profitability will be examined. The text will also introduce seven profitable businesses in Iran that, considering all mentioned factors, have generated the most profit and revenue for their owners in recent years.

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What is profit?

Profit is the amount of income remaining after deducting all expenses from total revenue. However, profit as defined in accounting differs from its definition in economics. In accounting, profit is calculated by determining the difference between income and the total costs associated with goods or services, resulting in three types of profit: gross profit, operating profit, and net profit.

Gross profit is obtained by calculating the cost of goods sold or services provided and subtracting this from total revenue. Operating profit is then calculated by deducting operating expenses from the gross profit. Finally, net profit is derived by subtracting non-operating expenses, such as taxes, from all these amounts. Thus, accounting deals only with the amounts of revenue and financial costs related to services and products, while economics pays more attention to alternative scenarios and estimates opportunity costs.

Opportunity cost is essentially the sum of all alternatives and other options foregone by making a choice. In other words, by gaining one thing, we lose something else, which is our opportunity cost. This cost could range from spending three hours leisurely instead of working to selling a personal vehicle to raise capital needed to start a business. Therefore, in economics, profit is calculated by estimating all opportunity costs that could have generated financial returns and subtracting them from total revenue.

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Therefore, the concept of profit in accounting impacts the evaluation of company management and performance, as well as future decision-making, but economic profit shows you alternative options with similar or greater profits.

The difference between profit and income

Profit and income are both positive financial flows in accounting and might be used interchangeably, but there are some slight differences between them. In fact, income represents all cash inflows from the company’s primary and initial activities, such as product sales or service provision, over a specific period before deducting the costs of goods sold or services and non-operational expenses.

A company’s income might be high, but when income and expenses equal out, the company’s profit becomes zero. Also, if expenses exceed the generated income, the profit turns negative, indicating that the company is operating at a loss. Therefore, the seven most profitable businesses in Iran are not necessarily the highest-grossing ones, but those whose total expenses are not disproportionately high compared to their income.

What business is profitable?

Given that the profit from each business is directly related to the type and amount of demand by the community, it’s evident that wherever there is more demand for a product or service, the profit from that business will be higher. Thus, businesses that meet the basic and essential needs of all people—such as food, clothing, housing, and health and safety—are never out of demand and always have a steady market.

What makes the demands of one society different from another are the secondary needs of those people, which can stem from geographical, cultural, social, and economic conditions. Often, cultural backgrounds, the specific needs of a region, and values created by the media generate these secondary needs. Therefore, to identify the type and level of demand in each country for specific products and services, one must first pay attention to the values of that society. For example, in our country, given the high rate of surgery and beauty services, establishing a beauty clinic is one of the seven profitable businesses in Iran.

Introducing 7 profitable businesses in Iran:

As mentioned, high-income businesses are those for which there is a significant demand in society. Typically, the most profitable businesses globally are similar. The following will examine the seven high-income businesses in Iran:

1.Food Industry

The focus on food as a fundamental and essential need in Iran has historically been of great importance, leading to significant growth in the country’s food industry. According to the latest report from the Statistical Center of Iran in 2015, the food industry in Iran, with a turnover of about 100 billion dollars, has generated the most employment compared to other industries, creating a value added of approximately 144 trillion Iranian Rials. However, there are still many untapped opportunities for more efficient use of Iran’s abundant natural resources and for establishing factories and industrial workshops to produce new and diverse products, including for export purposes.

Starting a business in the food sector is not limited to establishing an industrial food factory. Overall, all businesses that produce and sell food products, whether on a small or large scale, are among the seven most profitable businesses in Iran, and even businesses related to them such as packaging, food stores, and even restaurants can have high profitability and returns.

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 2.Apparel

Just as food is a fundamental need, clothing is equally essential for human life, with different garments worn according to the seasons and locations. The production and sale of apparel always demand high and have the potential to become one of the top seven profitable businesses in Iran, provided that the products are of high quality and competitively priced with global market products. Ultimately, all products produced by retailers and fashion designers are directly available to consumers.

Despite the lack of rich cotton resources, the absence of diverse fabric production, and some cumbersome laws and regulations, apparel production and sales, especially in the domestic markets of Iran, remain among the top seven profitable ventures in Iran and are capable of competing in global markets in terms of quality, design, and sewing.

Additionally, due to economic sanctions and the significant rise in currency prices in recent years, followed by the COVID-19 pandemic, which led to the prohibition of foreign apparel imports into Iran, there has been an increase in local designers and manufacturers. According to the Vice President of the Iranian Textile and Apparel Production and Export Union, the quality and variety of products have seen a 70% growth, and apparel exports have increased by 30%.

Furthermore, amid sanctions in recent years and the withdrawal of foreign brand representatives from the country, online clothing stores have become another of the top seven profitable businesses in Iran. These stores facilitate the purchase of goods from other countries, though often these activities are informal and on a small scale. This adaptation reflects a strategic response to market restrictions, illustrating the resilience and flexibility of the Iranian apparel market in addressing consumer needs despite challenging circumstances.

3.Construction

The construction sector, recognized as one of the seven most profitable businesses in Iran, directly addresses the fundamental human need for housing and shelter. For many in Iran, purchasing property is the most significant investment they can make, serving not only as a basic necessity for living but also as an ideal investment for those averse to high risks.

Investment in real estate can take various forms, each potentially leading to the establishment of a lucrative business. One of the oldest businesses within the housing sector is the buying and selling of homes and construction, which involves a wide range of participants from material suppliers to interior designers, installation services, and real estate agencies—all counted among the seven most profitable businesses in Iran.

Particularly profitable in the past decade has been the business of buying old houses, renovating them, and selling them at a higher price. Many people also choose to renovate their homes after several years to enjoy a more comfortable and pleasurable living environment. Thus, related trades such as house painting, interior design, and the sale of stones and ceramics are among the seven most profitable businesses in Iran. These activities not only cater to the needs of new homeowners looking to personalize their spaces but also offer continual opportunities in the maintenance and upgrading of existing properties.

4.Healthcare

The level of healthcare in any country always impacts the quality of life and the average lifespan of its residents. The necessity of health and hygiene leads people to incur very high costs when visiting medical centers during illnesses. Therefore, businesses related to the medical and healthcare industry, as well as the production and sale of pharmaceutical, care, and hygiene products, are among the top seven profitable businesses in Iran, with a turnover equivalent to 150 trillion tomans.

Healthcare is not limited to physical health but also includes mental health. In a society like Iran, where economic problems, air pollution, rising unemployment rates, etc., often deprive people of mental health, businesses related to psychotherapy and psychiatry, alongside medical, pharmaceutical, and veterinary affairs, are considered among the top seven profitable businesses in Iran.

With the expansion of technology, medical and therapeutic practices have evolved from their traditional forms, leading to the creation of new businesses with modern diagnostic and treatment methods. The design and production of smart devices capable of measuring blood pressure, blood sugar, oxygen levels, and more, as well as the production and sale of medical equipment, fall into this category.

5.Entertainment

All humans need leisure and entertainment throughout their lives to regain lost energy and alleviate fatigue from work and daily stress.

Entertainment comes in various forms, but today, with the advent of the internet and technological advancements, platforms for films and series, video game consoles, and mobile apps have carved out a special place among people, particularly Iranians. Therefore, businesses involved in the production of films and series on these platforms or in the design and production of digital games will definitely have high demand. Alongside traditional entertainment venues such as indoor amusement parks, water parks, and gaming cafes, they are considered among the top seven profitable businesses in Iran. Consequently, businesses related to the entertainment industry will be among the top seven profitable businesses in Iran if they are up-to-date, diverse in facilities, comply with necessary standards and safety, and can meet the expectations of this age group.

6.Beauty Industry

All humans love beauty, but the standards of beauty and its importance vary among the people of different countries. As it has been noted, Iran has very high statistics in various types of cosmetic surgery, especially rhinoplasty, and ranks among the top globally in this respect. Additionally, with the emergence of new methods and the production of up-to-date devices in the field of laser hair removal, rejuvenation, slimming and fitness, and hair and eyebrow transplantation, the number of people visiting beauty clinics has significantly increased. Consequently, the establishment of beauty clinics that offer a variety of beauty services using the highest quality raw materials and the most modern devices such as laser hair removal machines, rejuvenation devices like HIFU, RF, and carboxy, and slimming devices are undoubtedly among the top seven profitable businesses in Iran, with a relatively short time to profit and revenue.

In addition to establishing a beauty clinic, this option allows you to start your business with a sensible and collaborative investment, even with just one device such as the Radoplus laser hair removal machine, which covers different laser wavelengths, and achieve profit and revenue. Gradually, you can expand your beauty services.

The beauty industry in Iran, which is considered one of the most profitable industries, does not only include the establishment of beauty clinics and specialized beauty services. The production and sale of various cosmetic products, skin and hair care, perfumes, and even beauty salons and hairstyling services are part of the beauty industry and are among the top seven profitable businesses in Iran.

7.Digital Business

Many people associate digital business only with activities related to virtual advertising and digital marketing, such as content creation, website design, SEO, etc. However, digital business actually refers to any type of business that operates digitally, often through the internet. Since these businesses do not have some of the costs associated with physical and traditional businesses and allow you to work from anywhere at any time, they have been of great interest to both consumers and business owners, with significant profit and revenue growth over the past decade.

On the other hand, digital advertising and marketing and related professions are among those jobs that all the aforementioned businesses and any other business need in order to increase their customer base and consequently their profit and revenue. Therefore, establishing advertising companies or digital marketing agencies that offer services such as environmental and virtual advertising, website design, search engine optimization (SEO), production of textual and visual content, and marketing strategy planning are among the seven most profitable businesses in Iran, still offering growth opportunities for experts.

Another significant trend in the digital space today is blogging and influencer marketing, which not only impact the sales of products and services of various businesses but also have the potential to influence cultural norms and set values in a society, especially among the new generation. In fact, marketing by influencers and bloggers is part of the common advertising expenses in most businesses and is one of the seven most profitable businesses in Iran.

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Pickup Sarmayeh, renowned as the best investment company for establishing aesthetic clinic, supports you with a team of specialists in various sectors. They assist you in setting up a aesthetic clinic confidently ranked among the seven most profitable businesses in Iran, offering excellent revenue and returns.

Pickup Sarmayeh guarantees the return on investment throughout all stages of establishing a aesthetic clinic, including obtaining the Ministry of Health’s license, purchasing and designing the clinic’s interior, and equipping the clinic with the latest and highest quality laser hair removal devices. They also support purchases for hair removal, rejuvenation, and slimming devices. Furthermore, Pickup Sarmayeh will assist you continuously in all activities related to effective virtual advertising and digital marketing such as content production and website design, ensuring a comprehensive approach to establishing and running your aesthetic clinic.

Pickup Sarmayeh has repeatedly tested this path and is now at a point where it guarantees profitability in the contract.

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