Thanks to the advances in technology, the world has transformed into a much smaller place. In 2017, there is hardly a task that is exclusive any longer. This might seem like a good thing, but it’s terrible news for entrepreneurs. Everyone that wants to start a business can, and the competition has increased as a result. Nowadays, there is nowhere to turn and nowhere to hide. You’re thinking that industries which are growing and lack competition would be great, but do they even exist? Yes, they do, and here are a few examples.
What? How is the automotive sector on this list? It’s one of the most competitive industries in the world! True, there are areas which are full of businessmen and women looking to make a quick buck. Still, the great thing about being in the car trade is its size. Because it’s so big, some niches and gaps are begging to be exploited. If you don’t believe niches exist, just take a look at businessman Steve Voudouris and bite your tongue. But, selling Jeep parts isn’t the only option at your disposal. You could start a firm that specializes in driverless car repairs. In the future, that will be a billion dollar business.
Meditation & Mental Health
A few years ago, most people would have scoffed at the idea of meditating. Isn’t it for religious people and hippies? No, companies also use it for motivational purposes. As a result of company retreats, the industry has increased its market share to over one billion dollars in the US alone. In one country, the scope for growth is gigantic, and that isn’t even factoring in the rest of the world. Anyone with a mental health or psychology degree is on to a winner.
It seems odd that someone would buy tea or coffee when they can make it at home. But, the coffee industry is booming at the moment, with firms like Starbucks taking advantage. Just because Starbucks are in town, though, doesn’t mean that opportunities don’t exist. The fact is that tea and coffee lovers are rebelling against major coffee establishments. They prefer top quality ground beans that they can buy on the go. Savvy businesspersons are making a killing by contacting top class suppliers and cutting out the middleman. Then, they sell it for half the price. The industry tripled last year and shows no signs of slowing down.
The world is overpopulated, and it’s a problem for construction companies. They need more space, but the supply is limited. As a result, they will pay over the odds for any land that they can get their hands on. If your business procures enough terrain, there is a big chance you will make a killing. And, the good news is that it doesn’t have to be land that is in demand because they are looking for a range of plots. If you have enough plots in enough places, the profits will make your eyes water.
A startup seems like a bad idea in this environment, but it could be an inspired decision if you choose wisely.