While I do agree with you, if it took tens of millions of dollars in initial capital to get there, which hasn’t been returned, it’s quite a different thing to the standard small businesses model.
> We perform everything from preparing and creating treats like turkey legs and churros to serving grant and exquisite meals at the famous and exclusive Club 33. If you are eating in the parks, our members are making that happen.
Edit - looks like 5% but they can only work the unskilled food service etc
But the point is that a business model that is "profitable" but actually took millions in initial capital and has no provision for debt service isn't an actually profitable business model.
If it takes 10mil of funding to get off the ground and it would also take any competitor that to catch up… then you have a moat and can basically make money forever.
Even if you wanted to get into money transfers, the licensing alone is around 1million, and you haven’t even written any software yet or gotten any infrastructure. You can also “rent” someone else’s license but then your margins go out the window.
So, I’m not sure what the point is here. Some types of businesses require capital to start, even if they never scale.
If you’re not carrying the cost of that capital on the books you’re not “making money” at all.