What is the most profitable Business model ever made?
Someone had asked that question on Quora and Joel A. Seely gave a very prompt answer which I think is worth sharing. Here are his words;
In all seriousness, I think it is religion. What are some of the general tenets that make it so?
- 10% tithing of your earnings going to the church.
- Your “workers” are generally paid subsistence wages and work 24/7 (and are more or less happy to do so).
You can franchise out to other countries and make modifications that work in the new cultures.
- When your customers die, they often leave a large portion of their wealth to the church. This may be due to honest “conversion” or because of “investments” made to help them earlier in life that result in them paying back a lifetime of accumulation.
- Your product is the promise of great riches in an afterlife. Zero manufacturing and distribution costs.
- The payout doesn’t have to come from your Earthly assets.
- No lawsuits from unsatisfied customers.
All this adds up to massive accumulation of wealth that can be used for other useful projects. As an example, during the English Reformation, Henry VIII became the head of the Church of England and appropriated all the amassed wealth. I haven’t been able to find any reliable information on assets other than land, but at that time it was estimated that they owned 25% – 30% of the land in England.
My question is, “Why should an Industry with the most profitable business model in the world refuse to be TAXED?
I am Seun Ogunmola