Great business ideas for 2018
If you're a particularly organized person and think you'd be good at coaching people through getting rid of unnecessary items, you could turn this skill into a lucrative business this year. It definitely requires patience and understanding, so being a people person is important. Ask if clients will let you take before and after photos of the areas of their homes you've organized, and use those to create a portfolio to attract more clients and market your business on social media.
Tech implementation consultancy
Huge strides are being made in technology, such as in the realm of AI and machine learning and big data analytics. 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 plates, 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 could prove highly profitable.
Cannabis licensing consultancy
According to Medical Marijuana Inc., the estimated size of the 2016 hemp market was $688 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
There are plenty of ways to help seniors and grow a successful business at the same time. Everything from salon 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 to get to you. Also, consider a business to help seniors transition from their homes to assisted living facilities, with services such as packing, transporting, setting up or storing their furniture and possessions.
Social media consulting
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.
Healthy fast food
Catering to this idea by offering more nutritious fast food could turn into a fruitful business. In fact, according to Business Insider, in 2017 there were already a number of healthy fast food businesses taking over, so this is a fresh idea that has potential to be even better in 2018.
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 preselling 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.
Wheelchair repair service
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.
Wheelchairs, especially electric wheelchairs, can be complicated to repair. Considering they're also expensive and necessary equipment for the people who use them, if you have the skills to repair them or are willing to hone them, you're likely to find your services highly in demand.
Multicultural marketing expert
The study shows many companies fail at reaching minority customers because they don't take the time to properly 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, 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 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 few 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 bilingual 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 Business News Daily staff members. Some source interviews were conducted for a previous version of this article.