After a 36% decline in business start-ups over the last 10 years Forbes predicted that 2018 could be the year things turn around. If you’ve been bitten in the past by the entrepreneur bug and ignored the call, maybe it’s time for a reassessment. Business trends evolve every year and so do business ideas. If you’re undecided about which direction you should go with a business, we suggest following these five business ideas in 2019.
Social Media Management
Most business owners understand the need for digital marketing. It’s one thing to understand the need, but managing the different aspects of social media marketing is time-consuming and frankly, not in the wheelhouse of most business owners. Social media management as a business idea is growing in popularity. Whether you market your skills to a large corporation that outsources their marketing or prefer working with small businesses, this could be a lucrative business idea. If you enjoy managing social media campaigns using new media to help raise brand awareness on Twitter, Facebook, Pinterest, YouTube, LinkedIn, and Instagram, social media management could be a good fit for you. You’ll act as a company’s online representative working to engage their audience, interact with them, and grow the numbers through social media.
The new buzz phrase for people in their golden years is aging in place. The baby boomers are either retired or looking forward to retirement in the next five-10 years. Referred to as the longest-living generation in history, boomers are a part of the longevity economy. Many generate income well after traditional retirement age. They’re living longer and maintaining good health longer than their parent’s generation. When possible, baby boomers strive for independence well into their elder years. One way they’re accomplishing independent living is by aging in place. They modify their homes to accommodate mobility issues and use private caregiving services for help with meals, personal hygiene, housekeeping, and transportation needs. A personal caregiving business is scalable, so you can start with a few clients and grow enough that you need to create a team of caregivers. A small business growth consultant can help you implement best practices to ensure you’re ready to scale a caregiving business. If you enjoy spending time with older adults watch trends in the personal caregiving field over the next few months.
Ask any property owner and they’ll tell you how difficult it is to find a good carpenter, welder, plumber, electrician, or HVAC technician. The need will only increase as baby boomers reach retirement age. What do baby boomers have to do with a deficit in skilled tradespeople? In the U.S. more than 60% of people working in skilled trades are 45 or older. Young people shy away from skilled trades jobs for a variety of reasons, including incorrect perceptions regarding pay. If you’re handy with tools and have an interest in residential property repairs or maintenance, you could turn your skill into a business with almost guaranteed income security. Startup capital is relatively low for most businesses in this field. Once you determine the trade skills you’d like to offer schedule time with a specialist at a business consulting firm. They can help with developing a business strategy and marketing plan.
It seems like everybody is a coach today. That’s because growth in the coaching industry has seen double-digit growth rates for nearly 10 years. If you’re interested in jumping on the fast track to entrepreneurship, coaching is considered one of the fastest routes to business ownership. A coaching business doesn’t require a huge amount of capital, and it’s fairly easy to find potential clients. But most coaches aren’t earning a steady income. For one thing, many don’t have a business structure. They dabble and struggle to offer potential clients concrete solutions. Having a passion for helping others realize their dreams, have better health, or reach inner peace is a good starting point but to succeed as a coach, your first step should be signing up for a business growth consultation.
So far, we’ve looked at service businesses, but one business idea growing in popularity is subscription boxes. Running a subscription box business entails finding, sourcing, and selling products to a niche group of customers on a monthly basis. Customers buy subscriptions in a wide range of niches including prepared meals, pet products, beauty and healthcare, and fitness. Loving customer and product research is a requirement for this business as most of our work will focus on these activities. As with service business ideas, product-focused businesses also benefit from aligning with a group of small business consultants.
Is 2019 going to be the year you launch your business idea? Contact National Business Services today and schedule a startup consultation.