I’m constantly on the hunt for new business ideas, offline and online, so I thought it would be fun to share some new industries that you could open a business in if you’re looking to build a profitable company from the ground up. Here are my top 4 industries to open a business in.
1. A Franchise
Have you ever considered opening a franchise? As long as you have a decent amount of money available, then you should be able to get started pretty quickly. Opening a franchise is an easy way to get started because you’ll be handed everything from the contacts to the formula for sales. It’s a great starting place for someone without a ton of experience, as you’re going to be operating something that’s tried and tested. The type of franchise you can open will vary, but fast food is one of the most common franchises. Whether you fancy opening a KFC or a Chuck’s Roadhouse Bar and Grill, the principles are very similar. Bear in mind that operating a franchise can come with a number of rules and regulations in order to maintain the same standard across the board. Some people might find that restrictive, I personally feel that it makes it easier to get things off the ground faster as you have a clear blueprint.
2. Construction
Construction is always going to be an important industry because not only do we need new builds for our growing populations almost everywhere, but many people also choose to renovate their homes making them more modern. Over the past few decades, there has been a shift in what kind of careers people lean towards, with many trade based careers such as construction (check out Rochester Stone), mechanics, and electrician based careers becoming less popular. This has resulted in a pretty good pay increase for these trade-based positions after all, pay scale often follows a supply and demand correlation. If you’re looking for a different type of construction, check out the best modular clean room manufacturers.
3. An Online Business
I obviously love online businesses, but you might wonder why. Here are some of the reasons that an online business is an excellent type of business to start. Firstly, there are low start-up costs, depending on the type of business you want to start there could be close to zero start-up costs. For example, if you are looking to start a beauty business, look for help from a private label lip balm manufacturer, or a more varied skincare manufacturer, and get started! If you want to get into Youtube, it’s free to sign up and you can use your smartphone as your camera for filming in the beginning until you’re ready to invest more. If you want to start with a blog, or something more website focused, then I would say it’s worthwhile paying for a domain name and hosting, which in total might set you back around $60-70 for the first year, depending on what company you go with. Compared to a traditional business, these starting costs are extremely low, meaning that almost anyone could get started online if they wanted to.
If you’re looking to start a new business, take a look into these three industries and you’ll b starting in the right place!
