Great business ideas for 2017
Tech implementation consultancy
Are you an expert in all things IT? Do your friends come to you when their computers breakdown or their networks are compromised? Well, tech consultations might just be the line of work for you.
Huge strides are being made in technology, whether it's in the realm of AI and machine learning, or big data analytics. 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.
People regularly need to liquidate the contents of their homes, whether it's in the event of an inheritance, the result of a divorce, or just a regular old move. That's where estate sales come in.
You don't have to be a licensed appraiser (though it helps) to price out a home and organize a sale. Once you've established prices for all of the contents for sale, advertise and organize a day to bring in members of the public to buy the products. In the end, you can take a tidy percentage of the gross sales, and the homeowner walks away happy, without the headache of getting rid of all their stuff.
Do you consider yourself a wordsmith? Setting yourself up as a freelance copywriter could prove to be a lucrative side-hustle ... or maybe even a full time job.
Companies will pay big time for someone who can write clean copy, whether its for advertisements, websites or blogs. Some will even pay you for your editing services. However, consider how much work it takes to make freelancing work your full time gig.
Cannabis licensing consultancy
With both the legal and medicinal cannabis markets continuing their rapid growth, now is a great time to start a cannabis licensing consultancy. Once you familiarize yourself with the different state regulations and the major players in the approval process, you're ready to start helping dispensaries and grows attain their licenses and approvals.
According to Medical Marijuana Inc. the medicinal market alone in 2015 was worth nearly $600 million. Add to that the continuous legalization of recreational use in states throughout the country and you have a fledgling market with room to grow. Now is the time to get into this burgeoning industry.
Home healthcare services
Many businesses these days are focusing on marketing to millennials, but it might be worth it to start a business that caters to seniors instead. People are living longer than ever, and that opens up a whole new audience of customers. According to the National Institute on Aging, between 2010 and 2050, the 85-and-over population is projected to increase 351 percent globally — 188 percent for the 65-and-over population — and the global number of centenarians (those over age 100) is projected to increase 10-fold. That's a lot of people who could use specialty services that cater to their needs.
And there are plenty of ways to help seniors and grow a successful business. Everything from salon services to errand services can be a success, as long as you can bring your skills to their homes or assist older people who can no longer walk or drive in some way. Also, consider a business to help seniors transition from their homes to assisted living facilities, from packing and transporting to setting up or storing their furniture and possessions.
Social media consulting
Sure, there are plenty of businesses offering social media consulting services, but you can stand out from the crowd by focusing primarily on networks that are still gathering steam with businesses. Facebook and Twitter are still the top networks, but businesses tend to struggle the most with platforms like Instagram, Pinterest, Tumblr and Snapchat. All of these platforms have huge audiences but many businesses don't realize how big they really are, how effective they can be and how to make them work for their niche. Periscope, Twitter's live-streaming app, has more than 10 million active accounts, for example, and Snapchat has more than 100 million users, according to The Verge. Tumblr and Instagram have more than 400 million users, and Pinterest has over 100 million.
If you've got a background in social media and a deep understanding of these particular platforms, try starting a social consulting business that focuses less on the basics and more on helping businesses take advantage of the millions of users they're not reaching by sticking solely with Facebook and Twitter.
Organic beauty products
Healthy fast food
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Crowdfunding consultant Victoria Westcott said she helps others understand the practice and raise more money by helping plan, strategize and run campaigns to attract new backers.
"The fact is, crowdfunding is not quite fundraising and it's not quite pre-selling either," Westcott told Business News Daily. "Crowdfunding is a whole new thing."
With so many entrepreneurs looking for the cash to turn their idea into an actual business, Westcott believes the need for crowdfunding consultants will grow in years to come.
Currently, statistics show more than 2.8 million Americans use a wheelchair for mobility, allowing greater independence in daily functioning, home life and vocational settings. All this wheelchair usage means there's a lot of need for repair and maintenance of wheelchairs, along with other medical devices.
In a study led by Michael Boninger, of the VA Pittsburgh Healthcare System, about 53 percent of wheelchair users reported one or more breakdowns requiring repair between 2006 and 2011.
There is a need for those who can fix both manual and electric wheelchairs quickly to get them back to those who depend on them.
Multicultural marketing expert
The study shows many companies fail at reaching minority customers because they don't take the time to know that audience. To reach those targeted shoppers, businesses must recognize the places where the consumer resides and design a specific message not just for one ethnicity, but for cultures among those segments.
This has created an opening for marketers looking to stand out from the crowd. Lisa Skriloff, founder of Multicultural Marketing Resources, Inc., said with minority populations growing at a faster rate than Caucasians, businesses that want to succeed must tap into the minority markets.
"Because of technology and the Internet, publishing and sharing written material is easier and cheaper than ever," ghostwriter Melinda Copp told Business News Daily. "All those words have to be written by someone."
Beyond online writing, more business leaders are authoring books, with the aid of ghostwriters, to build their credibility.
"Some of my clients have leveraged their books to generate more and better speaking opportunities, more frequent appearances on business shows, and opportunities to work with better clients," said ghostwriter Jeff Haden. "Great content can help build a great foundation for a business or personal brand."
Business sustainability consultant Barbara Englehart said there are numerous benefits for companies that go green, including reduced costs, risks and liabilities and increased employee retention, productivity and moral.
"This is all quite new in the business world, and companies need help," Englehart told Business News Daily. "They weren't teaching sustainability in business schools five or 10 years ago."
"Unfortunately, we are in a cycle of more frequent and severe weather events, coupled with an alarming occurrence of freak events," Barry W. Scanlon, former president of crisis management and public safety consulting firm Witt Associates, told Business News Daily. "This has led more and more leaders and businesses to realize that if they are not prepared for all hazards and crisis events, their hard work and growth can be lost in a moment’s notice."
The desire to be prepared for the worst is increasing the need for consultants who can help guide businesses through the necessary steps for protecting all pieces of their company — from physical buildings to online documents — in case of a disaster.
The study shows that as companies once again focus on international growth over the next five years, they will turn to the translation industry to provide localization services. A growing population of immigrants is expected to contribute to further growth.
"The industry has grown as companies look to cash in on an increasingly global marketplace," said IBISWorld industry analyst Andrew Krabeepetcharat.
This need has created an opening for dual-language speakers with the ability to interpret speech from one language to another. Specific services they can provide include document translation and the translation of website information into languages for use in other countries, taking into account unique cultural and linguistic traits.
Car repair concierge
Research shows there are more than 115,000 auto repair and service shops nationwide, each fixing an average of 55 cars per week. Thus, there is a growing need for those who can make the process as smooth and painless as possible.
Car service concierges are able to pick up your car for you, take it in for service and return it when it is finished. For those who can't afford to be without a car while vehicle is serviced, the concierges also can provide a rental car.
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Additional reporting by the Business News Daily staff.