Taking ownership over your career and starting your own business has to be one of the best things you can do in life. The good news is that we are living in the age when business gates have been more open to inexperienced newcomers than ever before. And the number of small entrepreneurs is constantly growing. Currently, in the United States, small businesses employ approximately 58.9 million people (47% of the private workforce).
In order to join this booming sector, ambitious entrepreneurs need to meet a couple of requirements, but first and foremost, they need to enter the market with strong and viable ideas. Let’s take a look at some of the best options in 2019.
Skilled trade services
No matter how technically advanced our society might be becoming with each passing day, the services of experienced and skilled tradespeople will always be needed. Even more so when we take into consideration that the current workforce is rapidly aging and is expected to retire in the following decade. Some of the professions that are expected to be high-demand in that period are:
- Plumbing and pipefitting
- Steel working
- Installation and maintenance of electrical systems
What makes catering such an excellent business opportunity is that this particular field requires very little investment. On the other hand, just how far will you be able to scale your business will be limited only by your skill set and ambition. For a start, you will need access to a commercial kitchen, part-time staff and a lot of time to promote your business. However, once you handle a couple of events and the word-of-mouth starts growing, you can count on a stable influx of new customers.
Yet another profession that will never lose momentum – as long as there’s real estate, people will be moving. If you want to exploit this fact, you will first need to find quality trucks for sale and build your fleet. Try to have vehicles of different sizes and capacities – you want to enter the market with a versatile offer. Then, take some time to research the competition and design a competitive pricing scheme. Finally, you need to put your company on the map. Social media are always a great place to start.
This is a topic that is closely related to the previous one. As the number of small businesses and personal possessions continues to grow, the need for additional storage becomes a burning issue, especially in large metropolitan areas. For instance, according to some estimations, self-storage demand in densely populated New York exceeds supply by a staggering 300%. Another great thing about this option is that, as long as you have installed sufficient security measures, managing your assets should not pose too much of a problem.
Here’s another interesting stat that may surprise you – as much as 98% of operating breweries in the United States are small, independently owned companies. What that essentially means is that, by opening a small craft brewery, you will join a booming market that is just now cultivating its audience. The possibilities for distribution are limitless – local pubs, crowded summer festivals, online shops, and so on. Just put your passion into it and be original with the tastes and you ought to find your niche market.
Bike sales and services
As we already mentioned when we talked about self-storage businesses, large cities are being more densely populated with each passing day. In such circumstances, navigating busy traffic becomes a huge chore. It should really be no wonder that bikes easily positioned themselves as a healthy, eco-friendly and affordable alternative to motor vehicles. Reaching out to this growing audience sounds like a good business move. Your shop can focus on selling, bike repairs, related services or all of the above.
Getting into the developer community requires a lot of hard work and countless hours spent mastering relevant programming languages. However, once you manage to overcome this steep learning curve and start putting your apps in relevant stores, you can count on what we call passive income –revenue generated without you putting further effort into it. This welcome circumstance allows you to put the focus on a new project and further diversify your portfolio.
We hope these seven business options will set you on the right course, or at least help you to come up with an idea of your own. We are living in a time when the doors to the world of entrepreneurship are wide open to newcomers. It would be such a waste to miss the opportunity to take your fate into your own hands and remain idle while the world around you is changing.