Today I was reading about investment ‘moats’ -
‘The term economic ‘moat’, popularized by Warren Buffett, refers to a business’ ability to maintain competitive advantages over its competitors in order to protect its long-term profits and market share from competing firms’ - Investopedia
An example of a ‘moat’ could be it has a patented product and thus has a period of grace before it will have any direct competition. It might be too financially restrictive to copy the business plan to have any real chance of a rival business starting in their field.
What other factors do you think can make a business a lucrative investment?