Entrepreneurs know that change is the only constant in life. If they want to stay relevant and profitable, they should always keep their eyes peeled for the hottest business opportunities in the market.
Ongoing trends in the world influence consumer demand, so being aware of them will help you stay afloat and take advantage of the most promising niches to look out for. Today we feature 10 New Business Opportunities Every Entrepreneur Needs To Be A Part Of Before It’s Too Late.
10 Hot Business Opportunities For Every Entrepreneur
#1: Biomass Energy
It’s no secret that protecting the environment has increasingly become important over the last two decades. That’s why more and more companies have become motivated to “go green” through alternative energy sources like biomass.
The idea is to convert biological material such as organic waste streams, garbage, and discarded plant materials into something useful like renewable energy sources. They can even be repurposed for manufacturing industrial chemicals and biofuel.
Companies like Integrated BioChem make animal feed out of scraps coming from fruit and vegetable processing plants, while Rwandan social benefit company Inyenyeri creates biomass-based fuel pellets as a clean-burning energy source that prevents the need to harm the environment.
#2: Crowd sourcing Mobile Apps
Gone are the days when you had to hire a team of full-time employees and have them physically present in the same office to work on a project. With the trend known as crowdsourcing, people from all over can be invited online to work as independent contractors and complete a series of jobs with their shared expertise.
Companies like Gigwalk and Roamler have developed mobile apps as a portal for millions of smartphone owners to make money on the side by completing small research tasks like product surveys, collecting pricing information or taking pictures of real estate properties.
#3: Coffee Companions
Java lovers aren’t left out in the cold when it comes to hot business opportunities. Coffee Joulies is one such product targeted at the caffeine crowd. They’re coffee bean-shaped stainless steel shells whose natural properties keep your beverage at just the right temperature for a longer period of time while preventing you from burning your tongue as well.
MummyMug is another innovation that spill-proofs your drink to make it easy to enjoy coffee even with small children around. Using a patented self-closing lid mechanism, you’re free to sip away on your drink without the risk of the contents accidentally scalding curious toddlers nearby.
#4: Coffee Franchises
If you want to take things to the next level, why not franchise a coffee business altogether? It’s become increasingly common for cities and towns to have a high density of coffee shops, and this means that the public demand for their caffeine fix isn’t slowing down anytime soon.
There are plenty of companies out there who specialize in helping interested entrepreneurs take advantage of the many business opportunities found in coffee – do some online searching to find one best suited for you.
#5: Music Mobile Apps
People love smartphones because they can take calls and carry their favorite tunes on the go. This is why music-based mobile apps are all the rage nowadays as it taps into this need, making it one of the most promising business opportunities out there.
Imeem for instance, is an Android-based streaming music app that allows users to create a highly personalized mix of tracks which you can even download to your phone. iPhone owners thirsty for the newest indie music love OurStage, a smart mobile app that allows them to rate the latest music which is then used to make future recommendations for its users.
#6: Cloud Storage Mobile Apps
Anyone who uses a computer for work knows how crucial it is to back up their important files since losing them could spell disaster. This is why online storage providers like Dropbox and Sugarsync are a hit because of the peace of mind they offer. Now that they’ve gone mobile, their apps are a favorite for many smartphone users as it allows them to conveniently access their mission-critical documents and files from their handheld devices.
#7: Gaming Mobile Apps
The enormous success of like Angry Birds has proven that more and more people are depending on their smartphones to satisfy their gaming needs. Just one commute during the rush hour is evidence of the number of people with their heads buried in their phones, playing games to pass the time.
Thus, the market’s huge potential for exponential growth in the coming years makes gaming apps one of the most promising business opportunities.
#8: Looking Your Best
Recent studies have shown that products and services related to personal grooming and fitness have increased even in the face of recession. Surprisingly, it’s becoming more and more evident that people still want to be slimmer and better-looking in spite of the current economic woes we read about in the news.
As such, it’s a very good idea to look into barber shops, beauty salons, exercise programs and anything else that will help consumers look and feel young.
#9: Pet Care
Shopping malls have become home to a growing number of pet grooming salons and owners are constantly in need of pet need providers such as nutritionists and even kennel builders. Personalities like Cesar Milan have become popular among owners who need a trainer to keep their pets on their best behavior. Thus, books and training courses on the subject matter have also turned into one of the fastest-selling products in the world!
#10: Online Sharing Platforms
When people have unused assets lying around, the best way to make money from them is by renting it out to other people. There has been a wide increase of online services which allows users to loan their cars, bicycles, and even living spaces such as houses or vacation homes. It’s obvious then that providing people with an online portal to do this is one of the hottest business opportunities to look into!