Cashing in on the Business of Compliance

This is admittedly one of those business areas which require quite a high capital outlay in order for one to establish operations from which they naturally want to profit off of, but oftentimes it’s somewhat of a slam-dunk kind of undertaking. Once you get a mere foot in at the door there is only one way to go from there.

Of course I’m talking about those types of businesses which target compliance, i.e. offering products and services which are required by law, to a customer base which effectively has to purchase those products or make use of those services just so that they can comply with certain regulations governing any or all aspects of their daily lives. A more direct example of this type of business would include something like operating a bank, which provides services that are pretty much required if anyone wants to do anything related to the financial world. Try buying a vehicle cash and if you’re denied that opportunity outright, you’ll be made to jump through all manner of hoops to essentially prove that the money you’re trying to buy that car with doesn’t form part of the proceeds from ill-gotten gains.

The bank as an institution and business enjoys what are pretty much guaranteed profits because everybody who wants to function economically in this day and age needs a bank account and the banks can essentially charge what they want for the service they offer. I won’t even get into some of the other business operations they run, such as loaning out money and charging interest for it – the bottom line is that banking is indeed just one of many examples of directly setting up a business which profits on the back of some regulations which force compliance.

Now can you start your own bank tomorrow? If you had a few millions lying around then yes you can, but perhaps not within 24 hours since guess what – you will have to go through a rigorous compliance terrace yourself, which will undoubtedly cost you some good money.

Now there are many examples of business which cash in on compliance regulations in an indirect manner as well, such as motor vehicle emissions components manufacturers who supply these components to car brands big and small, while the manufacturer itself may not even be known to the end-consumer purchasing those vehicles.

Going back to the more direct businesses which cash in on compliance regulations, if you want to cash in as well and don’t quite have the required capital outlay to invest directly, you’ll have to align yourself with key players in those spheres, like how if I wanted to take advantage of a certain unique compliance business opportunity in a city like Los Angeles, I’d enlist the services of LA Lawyers Fisher & Talwar since their localised speciality naturally has them enjoying the advantage of being totally in-tune with the local state laws, rules and regulations, as well as how all of that bears significance to the local business environment.

What you don’t have in capital you should make up for through relationship-building.