Innovative Business Ideas for the Future-If you are an entrepreneur looking to start a new business, one of the major factors to consider when analyzing a business idea is how the business will fare in both the present and in the future. It goes without saying that it’s of no use starting a business that will, from all indications, lose its relevance in the near future.
Granted, there is no guarantee of success for any type of business startup. But your chances of success will be greatly increased if you venture into businesses that are more than likely to rock the future. Although you will discover many more ideas by doing research and studying current and future trends (such as demographic shifts), below are 10+ business ideas and trends that will be red hot in the foreseeable future:
1- Home care for the elderly
Due to the ever-aging population in the United States and other developing countries, there is an increasing demand for independent living by the elderly. And any businesses that can cater to this need by offering personal home care products and services to the elderly; with respect to physical therapy, grocery shopping, cooking, etc will be of great relevance for years to come.
2- Services for retirees
Everyone wants to live a good life even after retirement. And it is expected that by the year 2020, 80% of workers born in North America will be older than 50; a statistic revealed by Entrepreneur magazine. This trend will open huge opportunities for businesses targeting adults that are over 50, who are looking to enjoy a blissful retirement. Such businesses include retirement real estate, retirement recreational services, nutritional counseling to help seniors look better, etc.
3- Wellness and natural health
The wellness and natural health industry will most likely exceed the mainstream healthcare industry in the nearest future. So, natural health experts and products will be in great demand.
Due to the ever-increasing number of people who surf the web using mobile devices like Smartphones and tablets, businesses are now realizing the need to adopt mobile marketing as a way of targeting prospects that use mobile devices. This has led to an increase in the demand for mobile marketing consultants.
Since indicators are suggesting that mobile devices will continue to dominate for a long time (just as the need for mobile marketing), there’s a huge opportunity for mobile marketing consultants.
5-Home improvement services
Because there’s no end in sight to the current global economic crisis, people are resorting to self-created, home-based businesses; a development that confines them to their homes most of the time. This means there will be a big demand for home improvement services.
6-Social media consulting
With the dramatic increase in the popularity of social networks like Facebook and Twitter, businesses are deeming it more necessary than ever to start using these platforms for reaching out to prospects. This has led to a huge demand for marketing consultants who advise businesses on how to promote and market their products and services on social networks; and this demand will keep increasing for as long as social media continues to remain relevant.
7- Children’s educational services
The current economic crisis has led to a major cutback in school budgets. And this will increase the demand for tutoring and related academic services and programs.
Due to the current state of the economy, businesses are looking for ways to cut down cost and streamline their operations. One way businesses are trying to achieve this is by outsourcing to freelance contractors what used to be in-house functions; such as human resources, accounting, and IT related tasks. If you can setup an outsourcing agency, you are in for huge profit potential
9- App Development
10- Genetic research and engineering
13-Equity Financing (Venture capitalism, Angel investing)
14-Privacy protection services
15-Stem Cell Pharmacy
As stated earlier, this list is limited; it doesn’t cover everything. To get more business ideas and trends with future potential, do your research on consumer needs and sentiments that will most likely tap into the future; and I will see you at the top.