As America and the world make strides to recover from the worst economic downturn in history since the earlier part of the last century, many things are uncertain. However, one thing remains clear. There are some important trends that are having and will have a tremendous impact now and in the future when it comes to job growth, as well as best bets when buying a business opportunity or franchise.
Here they are:
- Senior Services―The Baby Boomers are finally approaching their golden years. And just as their success and desires have fueled the sale of houses and cars up until this point, their need for aging-related products and services is anticipated to grow exponentially in the next two to four decades. Entrepreneurs who invest in any business that is designed to meet the changing needs of the Boomers are making a very sound business decision. And the range of types of business enterprises that cater to the fact that America is aging is considerable, including everything from home retrofitting so that homeowners can “age in place” to in-home, personal care services and everything in between.
- Green Enterprises―Green is the color of all the money you’ll be making if you choose a business opportunity or franchise that is just that. Smart entrepreneurs are getting in on the ground floor of what is already an established and growing revolution when it comes to the way we think about and take care of our environment. Whether it’s catering to the demands of homeowners for more cost-efficient energy consumption or starting an environmentally friendly cleaning company, anything “green” has a leg up on the competition for sure.
- Health and Wellness―Despite the recent economic downturn, the health and wellness industry is growing by leaps and bounds every year. In fact, fitness clubs and health stores are now a $40+ billion dollar industry. The demand for fresh, organic and healthy foods is also exploding. America is witnessing a burgeoning commitment to health and wellness the likes of which it has never seen, thanks largely to the long-overdue focus of the mainstream media on the issue of lifestyle and how it contributes to such miserable maladies as obesity, diabetes and cancer. The opportunities for ambitious entrepreneurs who can find their niche offering assistance or products in this arena are vast, especially when what’s being offered is affordable and accessible.
- Travel and Leisure―Revenue for the travel and tourism industry is slated to reach nearly $1.4 trillion dollars by 2012. And although the economic downturn did have a bit of an effect, it’s expected to have been resolved and the industry better than ever by the end of this year. That’s great news for anyone who wants to start a business in this area, especially one that is online, where new opportunities are emerging every day.
- Business Consulting Services―The need for businesses, especially smaller ones, to hire consultants and part-time, temporary personnel is growing. The reason for this is two-fold: 1) The economic recovery will be slow and many businesses do not want to take a leap and hire a full-time person to do a job that may or may not be permanent; and 2) More businesses than ever are learning how to operate more cost effectively and efficiently by using non-traditional approaches and resources, including virtual assistants, out-of-house consulting services, cloud computing and software applications that can handle once complex and costly office-management tasks at the touch of a button. In particular, the need for social media, email and other technologically advanced marketing consultants as well as website development, design and writing services professionals is substantial.
The range of business opportunities and franchises that fit the bill when it comes to meeting the needs of consumers who are onboard with or a part of these trends is tremendous. The trick is not so much to choose an opportunity that fits squarely into one of these categories―although that isn’t such a bad idea―but to keep them in mind as you are shopping for just the right business opportunity, distributorship, licensee opportunity or franchise. After all, getting it right is every bit as much about finding what you love as it is about what your potential customers want and need.