Return

Fastest-Growing Small Business and Entrepreneurial Industries

Small Business

Great ideas are never planned; it’s the opportunists who can identify them and take action who find success. The brightest small business owners or entrepreneurs always notice a chance for breakthroughs or growth, seize them and can even get creative.

In this article, we discuss growing industries and offer some thought starters on how you can tap into them. We hope we inspire your next great endeavor — whether as a small business owner to enhance your offerings or you want to embrace your entrepreneurial spirit with a new business venture.

AI-Related Businesses

We are only in the beginning of the AI explosion. There are many success stories of entrepreneurs seizing opportunities to create unique businesses and niche offerings with AI’s capabilities, and there will likely be many more.

There are many routes you can take related to it, such as a solopreneur AI consultant, a freelance research scientist or an AI engineer. You should also consider your strengths or interests and create a business that uses AI for something to enhance that area; look through 30 Practical, Profitable AI Business Ideas and A Comprehensive List of Artificial Intelligence Business Ideas to explore what interests you.

Digital Fitness

If you are interested in fitness or run a gym or athletics-related business, starting an online fitness program may be a worthwhile endeavor. The market is expected to grow to $250 billion by 2032, and demand for personalized one-on-one training is also increasing.

There are several different forms online fitness offerings take:

• Live or on-demand guided classes
• Personal training sessions
• Fitness consulting
• Video demonstrations

Online Courses and Tutoring

Interest in eLearning is high. Many people are considering career pivots, and the demand for quality crash course training is skyrocketing. If you consider yourself knowledgeable in a specific field, you can create training courses to help others.

While already a very saturated market, demand for online tutoring is expected to keep growing for students as parents seek options to help their kids keep up or get ahead.

Here are some online teaching ideas you could pursue:

• Training courses for people switching careers to a certain industry
• ACT and SAT prep
• College essay support
• Basic school subjects — mathematics, history, science and reading
• Content about special interests and hobbies; niche topics, such as U.S. history during the Civil War era

Online Coaching and Mentoring

Being a personal coach or mentor to someone can involve building close relationships with people, as these are typically one-on-one or small group sessions that discuss more personal topics.

As this service is broadly defined, it adds flexibility to your offerings, and your coaching experience can be more customizable. There are many ways you could support your customers:

• Career
• Dating
• Family
• School
• Other personal goals
• Spiritual goals
• Another niche in which you can offer specialized support

Online Event Management

Since the pandemic, virtual events have become increasingly popular, as they are a convenient way to bring people together. The market is expected to balloon up to $78 billion by 2030.

If you run an event planning business or one related to that field, consider exploring opportunities in the online space as well.

Necessary skills and capabilities:

• Managing logistics of attendees and materials
• Registration
• Scheduling
• Engagement
• Event promotion

Information Technology (IT) Services

As technology keeps developing, it’s becoming more difficult to precisely define the IT field, as there are many opportunities within it to find what you are good at.

Each different path requires its own skillset, but it is fairly easy to get started in the following specialized fields:

• IT consulting
• Cybersecurity
• Online reputation management
• Legal research services
• Support and management
• Training and workshops
• Building and managing e-commerce websites
• Home automation and smart home installation
• Software engineering and development

Wedding Services

The wedding services industry is projected to grow by around $468 billion in the next decade.

Many different aspects and services go into planning such an extravagant event, meaning businesses can expand their reach into the wedding market, or one can start their own business focused on the following services:

• Wedding planning
• Jewelry retailing
• Photography
• Mobile DJing
• Bridal styling
• The restaurant business and catering
• Hospitality — hotels, country clubs and other venues
• Floral arrangements

Home Improvement

Home improvement businesses are cashing in due to the slow housing market. Homeowners are staying in place and are renovating their current residence instead of moving.

If your business offers services or you possess skills in any of the following lines of work, this can be a lucrative space:

• Contracting
• Electrical work
• Cabinetmaking
• Interior design
• Carpentry
• Plumbing
• Landscaping

Solar Panel Installation

As a business owner or entrepreneur, this field is worth exploring not only because of its strong projections for growth but its surprisingly low barrier to entry.

It is easy to pivot from or can be an added service to businesses with these related offerings:

• Contracting
• Electrical work
• Roofing

Home Healthcare

You don’t need to go through medical or nursing school to become a healthcare worker. Home services are expected to boom by 2030, and most aides or personal care assistants don’t need a special degree.

It mainly involves providing care and supervision to those who need it, especially seniors, in the following areas:

• Health monitoring
• Drug administration
• Physical rehabilitation
• Medical transportation
• Senior concierge services
• Traveling nursing
• In-home caregiving
• Medical social services
• Nutritional support

Pet Care and Animal Trainers

The pet industry, with its low entry barrier market, is expected to continue growing as more pets will drive demand for pet services.

If you are an animal lover, consider the many ways you can break into the pet industry:

• Pet sitting
• Pet grooming
• Pet training
• Pet boarding
• Dog walking
• Pet food maker
• Pet treats baker
• Pet clothing maker
• Pet toy maker
• Pet funeral services

Cleaning Services

Starting your own cleaning business or offering it as a new service as part of your existing business requires no prior educational training. It is a low-barrier industry, and while it is an already saturated market, there are ample opportunities to find success.

You can offer basic house cleaning or other specialized services:

• Laundry
• Sanitization
• Ceiling and wall
• Blinds
• Curtains
• Carpet
• Upholstery
• Window
• Pressure washing
• Disaster cleaning and restoration

Was this article informative? Visit the American Independent Business Coalition online at aibcoalition.com for more content like this!

Return

---