Heard of writer’s block? Well, entrepreneurs get that too. Which business idea is sustainable? Which trend will lead to profit? So, if you’re out of ideas… look no further.
This article is a two part series, just because there are so many viable ideas to discuss. So let’s jump straight into this:
Idea #1- Drones
According to Oberlo.co.za, approximately 600 000 drones are expected to be used in the air by 2018. From drones delivering packages to farmers checking out their crops to videographers getting the best aerial shot, there’s a growing demand and interest in this market. So much so that by 2020, the industry is expected to grow to $127 billion. Selfie drones have seen recent surges in popularity. Idea: selfie drones allow people to easily take pictures of themselves from different angles without needing a selfie stick.
Idea #2- Wireless Earphones
The wireless earphone market is expected to grow by a rate of 7.0% according to a 2016 report. Wireless headphones currently own 31% of the market share which is expected to continue seeing growth. The retail market for the headphone industry is expected to grow to $15.8 billion by 2025 making it worthwhile for entrepreneurs to start businesses focusing on this market. Why is this so great? Wireless earphones are growing in popularity due to the advancement in technology such as Bluetooth and Wi-Fi. However, there’s also a convenience component to them. So this is what you should be selling, both, technologically advancement and convenience.
Idea #3- Tech Implementation
Huge strides are being made in technology. And you can bet that means companies large and small will be looking to integrate new tech with their business operations. But entrepreneurs already have a lot on their plate, and many don’t have the time or energy to learn their new technology inside and out. A tech consultation service that could help businesses implement and operate their technology solutions should be in high demand and could prove highly profitable. So if this sounds like something you can do, then why not get paid to do it?
Idea #4- Organic Beauty Products
Consumers of all age groups have been hopping on the all-natural and organic bandwagon when it comes to their food and lifestyle products, but according to a trend report by JWTIntelligence, the over-50 crowd is especially interested in natural beauty products. Launching your own line of homemade face soaps, scrubs or cosmetics could be a smart way to capture this market.
Idea #5- Kid-Friendly Apps
Tens of millions of kids are using smartphones and tablets these days, and there’s money to be made. In fact, three-quarters of children have access to a mobile device. That’s big business if you know how to develop apps—or if you’re creative and know how to hire people who do. Focus on health and wellness-driven apps first to get the parents on your side. Big opportunity.
Idea #6- Gourmet Coffee
Think an independent coffee shop serving espressos, lattes and cappuccinos can’t compete with Starbucks? Think again. What you need to make your business a success: Being in a convenient location for vehicle, cycling and foot traffic; offering a pleasant atmosphere, including an outdoor patio; serving high-quality beverages made from small-batch specialty coffees, served by properly trained baristas so the product is consistent. If you have a passion for specialty coffee, why not make it your next business opportunity?
As mentioned before this is part one of two articles, so just to sum up why ideas are so essential, Richard Branson once said:
“Ideas are the lifeblood of business. Capture every fleeting idea and drive for change.”
We hope this article helps stimulate some ideas… if not, just wait for part two!
Blog & Content Administrator (& cannot wait for part two)