Things aren't always what they seem. The people who you think have money might be living on credit. Tom Stanley wrote “The Millionaire Next Door,” a book published in 1996 about the surprising findings that millionaires are disproportionately clustered in middle-class and blue collar neighborhoods — yet many people still overlook businesses where the owners get their hands dirty.

When you look for prospects, regardless if it's for an individual's or business's account, it's smart to think about where and how you spend your own money. It's especially useful to think about businesses you might overlook that are more hands-on. Let's consider four approaches:

Approach #1 – High-margin business owners

The first category might be “cash cows.”

1. Dry cleaners. Years ago, it was estimated the cost to dry clean a garment was about 35 cents. Let's assume it's up to a dollar now. What does your dry cleaner charge? Tom Stanley, at the time he wrote his famous book, said the dry cleaning industry had the largest concentration of millionaires.

2. Jewelers. OK, it's anecdotal, but I've heard the markup in jewelry is about 400%. Maybe it's an urban legend, but how else could they run 50% off sales and still make money?

3. Plumbers. You've heard the joke. The plumber presents the bill, and the customer says, “Wow! That's more than I charge and I'm a doctor! The plumber replies, “Neither did I when I was a doctor. That's why I became a plumber.”

4. Auto body shops. It seems you can't shop around for price. They work off computer programs, costing out parts, labor and repainting. It's never cheap.

5. Florists. You might not send flowers, but weddings and funerals probably make up a big part of their business.

6. People connected to real estate closings. Title companies, mortgage brokers and home inspectors are pretty much required when purchasing a house.

Approach #2 – High-volume business owners

With this category, you might not spend a lot, but people are standing in line just to hand over money.

1. Car washes. In the summer they wash off dirt. In the winter they wash off salt. There's usually a line when you go.

2. Service stations. You are buying gas. It's pretty much a commodity. You searched out the cheapest price. You need to stand in line to fill your tank.

3. Liquor stores. Regardless of the economy, stores selling liquor, beer and wine seem to always be busy. What does the government call the taxes they apply? “Sin taxes.”

4. Laundromats. Not everyone has a washer and dryer at home. It's a business that seems to run on its own, although servicing the machines requires attention. There's often a wait for the machines.

5. Convenience stores. Supermarkets may be price competitive, convenience stores often aren't. You are paying a premium for getting sodas or snacks at an odd hour. Let's not forget about cigarettes. Yes, you stand in line here too.

Approach #3 – Housing-related high-margin business owners

Now let's look at beneficiaries of the economic climate. You live in the city, where high-rise apartments are going up. You live in the suburbs, passing another cornfield where someone spread house seeds. When 60 single-family detached homes spring up, 60 new homeowners need lots of stuff.

1. Landscapers. You want to personalize your property. Maybe you need an underground watering system or a professionally planned garden. Often this is extra with a new house.

2. Fencing and pet containment. You define the boundaries of your property. You need a visible fence to keep your children safe or an invisible one for your dog. Again, often an extra.

3. Lawn services. The mantra in the landscaping business is Design, Build, Maintain or DBM. This is the “maintain” part.

4. Window treatments. These usually don't come with the house because everyone has their own style. Spending $1,000 on a large window isn't unusual.

5. Tiling, carpeting and flooring. Now we are talking older homes with new owners. It's another specialty retailer category.

Approach # 4 – Trades-related high-margin business owners

You've had your own experiences with people who bill by the hour. There might be a master craftsman taking on the job and writing the contract, but there are apprentices and other workers doing most of the work. Are they billed at a lower hourly rate? Three obvious businesses fit into this category: Auto mechanics, plumbers and electricians.

You've had firsthand experience with many of these trades and professions. Have you thought of them and their industry as potential clients? Maybe it's time you should.

Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, “Captivating the Wealthy Investor” can be found on Amazon.

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