Some businesses arrive and depart about as quickly as sunrise and sunset — think cookies or cupcakes or donuts. Sort of like a one-trick pony, catering to a fleeting taste is far riskier than seeking to serve a market niche with enduring demand.
Sure the new cupcake confectionery might be jammed for the few months after opening, but after a while, people may start to crave cookies, banana bread or brioches and they’ll likely end up at the full-service bakery that supplies a treat for every mood.
On the other hand, some things, like certain services, just never go out of style. Think about what you need on a regular basis, related to household maintenance and upkeep, educating your children or taking care of aging parents.
So when you’re contemplating starting up a new business, always consider long-term viability, larger market forces and filling an ongoing market need.
You can find plenty of choices in the service sector. Among the options are:
1. Health Care
Senior care is one of the fastest growing needs as the Baby Boomers age. You can also find opportunities with businesses to modify homes for seniors.
2. Temporary Staffing
Many businesses need employees to work flexible schedules on an as-needed basis. This is especially true in this era of extra-lean corporate staffs.
3. Cleaning Services
You can find great options for house cleaning or business janitorial services. Other ideas include carpet and upholstery cleaning services. In an economy where many businesses have outsourced these jobs, opportunities abound.
4. Business Services
In one of the fastest growing segments of the franchise industry, options include printing services, business coaching services or companies that offer document shredding.
So contact a franchise coach, who can help you locate a business that best matches your skills and experience. Then when you take the leap, you’re making an educated decision based on strong fundamentals and solid research.
About the author
Ready to make your dream of becoming an entrepreneur come true? Get your free evaluation today! Contact Dan Citrenbaum to help you create the career you’ve always wanted. As a business coach, Dan brings years of experience helping people select and buy a franchise or existing business. You can reach Dan at [email protected] or at (484) 278-5489.
Disclosure: This post is sponsored by a CAREEREALISM-approved expert. You can learn more about expert posts here.
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