22 Oct Keeping up with Shifting Business Trends
When it comes to what’s popular and what’s not so popular in business, it can change from month to month. We have a look at the businesses that are peaking the interests of entrepreneurs around the country and bring you a run-down of what industries are ‘in’.
Internet businesses
The growth of the internet and the explosion of technology has made starting an internet business fairly easy.
There are a lot of entrepreneurs who choose this kind of business because of the ease at which they can get going – often with less capital.
There are so many different types of online businesses but just because they are easy to start doesn’t mean that they are easy to make profitable.
Setting up an e-commerce site is one of the more popular forms of online businesses. To stand out from the thousands of other online stores however, you need to find a niche that you can fill and market your business the right way.
The popularity of online businesses is set to increase as more people seek flexible businesses that don’t tie them down to one particular place. Having a business that you can run from anywhere is a huge draw for many entrepreneurs.
Hotels
People love to holiday and so, it’s no surprise that interest in the hotel sector has peaked.
Alongside this business travel is also on the rise – so, all good news for people in the hotel industry.
There has been growth this year in the hotel industry resulting in increased occupancy and rates for hotels. This is, in turn, getting many entrepreneurs interested in snapping up a good hotel business for sale.
What guests are after these days is comfort; good beds with good quality bedding. It has also become far more important for hotel rooms to have space for people to set up their computers so that they can work while they’re there too.
The way that a hotel lobby is designed has also changed. These spaces have shifted to be more social in nature rather than simply places that are just for checking in.
The way hotels do this is to offer drinks, Wi-Fi and places to sit.
Boarding Kennels
It might surprise a lot of people that this business is on the list. When you think of trending industries, this might not be one that would pop into your head, however, if you think about how much America loves their pets and how much people are traveling nowadays, it’s a logical addition to the list.
Spending on pets has grown significantly in recent years and pet owners have become more discerning about what kind of products and services they use on their animals.
Finding a safe place to leave their pet while they are away is a top priority for pet owners and boarding kennels are cashing in.
Consumers are looking for higher end services for their pets which is where the most growth is in the industry.
Campgrounds
With hotels being such a popular industry, it’s little wonder that campgrounds also appear on our list. While hotels appeal to a certain sector of the market, camping appeals to another and entrepreneurs have taken note.
Holiday-goers are flocking to campsites and RV parks as a cost-effective holiday and there has been a sustained industry revenue growth for the past five years.
Although this industry was primarily seen as one that was popular amongst retirees, millennials have taken to camping and the outdoor lifestyle as a cheaper and more exciting holiday option.
This trend also looks set to continue as Gen Z’s are also taken by the idea of getting closer to nature through camping.
Camping holidays are seen as being healthier by including hiking and other outdoor activities that are drawing in consumers excited by what they see as the benefits to camping and being outdoors.
Keep moving
Looking at the industries that are trending with entrepreneurs right now, it’s easy to see that they all have something in common: they all rely on increased movement.
Whether this movement be through work, holiday or anything else, we live in a world where travel is common place and the internet plays a big role in this. With booking sites and Google maps, your trips can be planned in a matter of minutes and you can work from anywhere in the world with the right internet connection!
Looking forward, entrepreneurs can use this common thread to guide them in their decisions as businesses either allow for more mobility or take advantage of the increased mobility of others. Either way, there’s money to made!
By Anthea Taylor, Assistant Editor at Dynamis and writes for all titles in the Dynamis stable including BusinessesForSale.com, FranchiseSales.com and PropertySales.com as well as other industry publications.
