Ever since the recession began in 2008, the job market has forced many people to rethink their careers. With so many massive layoffs at major corporations and so many other companies closing their doors, it’s no wonder small businesses are in great demand. But not every entrepreneur is successful, especially when they get into the wrong business at the wrong time. Today, more than ever, small business owners need to be very strategic about starting a new business. Even existing businesses and franchises can be risky.
So, which small businesses are in demand right now?
According to Inc.com’s recent article, “The Best Industries for Starting a Business Right Now,” there are several industry verticals to keep in mind. It all depends on your real-world experience and how much you want to invest. Here are a few of the top industries where small businesses are in demand:
iPhone Apps – Ever since the Apple App Store launched, programmers and applications developers have been competing to create the “next big thing.” After producing more than 30,000 new applications and processing more than a billion downloads, Apple predicts that iPhone app developers will remain in high demand for years to come. Venture capitalists are earmarking millions of dollars to jumpstart this marketplace.
Beer, Wine and Liquor wholesalers are very profitable, despite the fact that consumers have cut back on premium alcoholic beverage consumption. As lower price point beverages have gained market share, beer and wine distributors and other similar small businesses are in high demand. Distilled spirits are another area, led by robust demand for American-made whiskeys, which has experienced record growth over the past year.
Quick Serve Restaurants are leading the food service industry within the “Fast-Casual” segment. Chains like Chipotle, Saladworks, Qdoba and Baja Fresh are experiencing record sales growth, which has fueled a revival within this category of franchising.
Healthcare Technology is another area where small businesses are in demand. As thousands of doctors’ offices and hospitals look to streamline patient care by using electronic health records (EHRs), this segment is gaining a lot of attention from investors. Part of the federal stimulus package pledged $19 billion to the development and implementation of EHRs, which has provided an opening for young companies to jump on the bandwagon.
Other industries where small businesses are in demand include technical and trade schools, home health care and repair services. To find your niche as an entrepreneur, check out the business opportunities listed at BizSale.com.