12 Promising Industries To Start A Business In Today
Around the world people have changed the way they work, communicate and take care of themselves and their families. Many organizations are finding it difficult to change with the changing requirements of the customers. But then there are industries that are finding these times very positive and conducive to making huge profits. These industries are sure to stay and thrive in the post pandemic world. We will discuss 12 industries that are going to be thriving in the coming years.
Setting up Ghost Kitchens.
There has been a sudden increase in demand for services like delivery of food. In the last year there has been an increase in the need to stay home, and people have been increasingly ordering food from restaurants instead of dining out. Due to convenience and low cost, this demand is going to sustain in the coming years, adding more and more customers every year. Thus ghost kitchens where food is cooked only for home delivery are going to be thriving.
Platforms for Online Learning
The Internet has changed the teaching and learning methods helping students everywhere to continue learning despite the pandemic. This industry is here to stay and is going to develop in leaps and bounds in the coming years. Remote learning is going to be the next big thing in the field of education. Online platforms have made it possible for people to study and work at a pace that is comfortable for them. Affordability and opportunity to learn large number of subjects and skills is making online learning very popular all over the world.
Online selling is gaining momentum with every passing year irrespective of the product or service you have to offer. A shift has been seen in consumer behavior to digital communication from personal channels. Online shopping is the new trend and this industry has crossed 3.5 trillion US dollar business all over the world. In order to be successful in the business of e-commerce engage the prospective customers with the brand you have built.
Web designing industry has a bright future. As businesses are shifting to working only online, they need people to design and create their websites. Research shows that in the coming years there is going to be a massive surge in online businesses, leading to a great demand for website designers.
Grocery and Retail
Starting a grocery and retail business online is one of the most lucrative business ideas at present. Some might feel that this boom could be short lived, but research shows that this industry is going to prosper in the coming years. This is because people are getting used to the convenience of shopping for essentials from the comfort of their homes. Thus the target market has increased and new opportunities have opened up for online grocery and retail business to prosper in the coming years.
The entertainment industry has a lot of potential to grow. Though large gatherings are not allowed, entertainment is not synonymous to hosting of large events. Human beings are social animals who need entertainment and interaction with other human beings. Organizing events for entertainment online and small events can be quite a lucrative business. Once you are successful in creating demand, profits will follow.
It has becomes obvious with the advancement transportation industry has made in the recent years (Uber, Lyft, self-driving Teslas), that this industry has a huge potential for growth.
All people, products and companies are dependent on transportation everyday- creating a huge demand for this service. Combination of transportation and technology has shifted this industry from the traditional way of moving people and goods to more radical ways of doing things creating scope for start-ups.
Wellness industry is another most promising business idea to consider in the present day. As stress levels are going up due to more and more people working from home and kids getting homeschooling, wellness and health have become people’s priority. Supplements, fitness products, vitamins and self care products are in great demand in the market and offer a very lucrative scope to entrepreneurs planning to set up new businesses.
I’d endorse telemedicine. The pandemic is not showing signs of abating soon, starting a business with telemedicine as your specialty, is sure to prosper. This is the only way doctors can be in touch with their patients without physical contact. People are finding tele consultation more and more practical; creating a lot of scope for this industry.
The job of a business broker is to connect the buyers with the sellers. These buyers and sellers are owners of private businesses. The brokers help them in the process of selling and buying. To establish this business it is important to be well versed in business law and usual practices of that industry. Your income will be the commission you will get on the sales you make.
Rentig Office Space
Young entrepreneurs are looking to rent office spaces as they are aspiring to become the next Amazon or Google. Thus office sharing is all set to be a very profitable business in the coming years. If you are a owner of a large commercial space, then your costs of investment will not be very high. Otherwise you will have to think of making a large amount of investment in purchasing a commercial space to start the business of renting office spaces.
Data Analyst Consulting
If you have a mathematics, economics or finance background, then you can set up the business of a Data analyst. A huge amount of information is available these days to businessmen who need data analyst to put it into perspective for them to strategize their business decisions. It is a very profitable business as large companies pay very well for the services.
To conclude decide on an industry suitable to your needs and talent and what you are passionate about. In addition keep your focus on customer needs and sustainability of the business you decide to choose. And whether industry you want to step into, consider getting the appropriate business insurance might help protect you and your business.