Best industries for starting a business: Some of the best involve online marketing, apps and video games development, and travel agencies among others. When starting a business, timing and sound decision-making are critical.
Those looking to start a business should keep an eye on the most profitable and lucrative industries, even in times of economic calamity. We would like to present you with a list of industries where aspiring entrepreneurs have the highest chance of success, in a style similar to our coverage of the world’s best unique business ideas.
No. 7: Online Marketing
The prevalence with which businesses and companies have started using Internet services has greatly improved the value of these ventures. An online marketing agency takes over all the tasks a business would have to undertake in order to maintain its impact online. As a result, the evolution of online agencies has grown a lot and is expected to expand in the upcoming years as well.
See some more of the best industries for starting a business on the next few pages:
No. 6: App & Game Development
The use of smartphones has increased significantly, and one reason for this is their apps. Countless business sectors have also started investing in this segment to improve their services, making the development and supply of apps and games another great industry for startups.
No. 5: Building and Maintenance Services
Public Domain Image: Public Domain
The real estate sector has continued to recover since the latest recession. Because of this, starting a business in this space is an opportunity to increase revenues in the long term. Another boost to this are has been provided by the high demand for home maintenance and renovation.
No. 4: Automobile Store and Repair Services
The automobile repair sector has developed significantly, in part due to the high availability of spare and upgrade parts.
No. 3: Online Shoe Sales
The industry of online shoe sales has grown by more than 16% in the last 5 years, as shoppers find it a lot easier to buy shoes online rather than roaming around malls or outlet stores.
No. 2: Travel Agencies
Travel agencies have transformed into a convenient option for consumers looking to plan their travels and book their tickets with ease. The availability of online travel agency services has opened up new windows of opportunity for those looking to start a business in this field. It is relatively easy and inexpensive to start a business of this kind, but this also means that competition is a lot more heated in this particular area in comparison to other industries.
No. 1: Home Theater & TV Installation
Over 90% of U.S. households nowadays have at least one TV set; a great deal of them have a second installed. Along with the ongoing development of home theater systems and big screen TVs, technology has also aided in reducing manufacturing costs. Such a business requires a relatively small capital investment and its rapid growth rate makes it a great industry to invest in.
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