Personal coaching, IT consulting,
retirement services, social media consulting, etc., seem to be some of the
hottest and most profitable ventures to begin in 2015. If you want to know more
about the entire list of best businesses to start in 2015, read on.
Tip
Before you start your desired venture or
business, it is always beneficial to initially work for someone else in the
same field for a few months. This will give you hands-on experience and
in-depth knowledge about the 'ins' and 'outs' of that particular business.
Going independent or starting your own
venture or company has many upsides, a few among them is not having to worry
about work timings or taking orders from superiors. Starting a business
involves selling a product or service, and initially, this needs a certain
amount of investment or capital. Consistent efforts and hard work on your part
as an owner will eventually see your business through its gestation period and
become profitable consistently.
But this isn't as easy as it looks on
paper. Your business idea or venture may not see the day of light if it is
isn't thought out and executed properly. There are a few things to consider
before you begin planning to set up a business; like making a comprehensive
business plan, arranging for appropriate finances, hiring related resources,
and setting up the other required necessities. Here is a list of best
businesses to start in 2015. Please note that content on this list has been
sourced from empoweredezine.
Personal Coach
A personal coach helps others meet their
life goals by guiding them to take the right decisions in their personal and
professional life. Getting a certification in personal coaching from a reputed
institute will lend credibility to your business.
Interesting Fact
According to a market research report on
life/personal coaches in the US by IBISWorld, this business/career opportunity
generated a revenue of around USD 1 billion. The average growth rate was a
whopping 9.3% from the years 2008-2013. There were about 18,078 businesses in this
field.
Viability and Growth
➥ Economic recession and downturn render
many people unemployed, and without confidence to achieve their personal and
professional goals.
➥ Also, the lack of income that such
conditions impose prompt many people to seek advice of a personal coach to take
timely corrective actions.
➥ This is a labor-intensive industry, and
you will have to invest heavily in overheads like experienced and skilled
labor, and marketing. However, note that the demand for this business may not
increase as the economy recovers and consumers gain their lost confidence.
IT Consultant
An IT consultant's work involves studying
the technological needs of the company and suggesting appropriate solutions for
the same. It also includes incorporating the latest technology for the success
of the business.
Interesting Fact
According to the market research report on
IT consulting in the US by IBISWorld, this industry has generated a revenue of
around USD 337 billion, registered an average annual growth of 2.2% between the
years 2008-13 and have about 431,755 businesses active in this domain.
Viability and Growth
➥ This is touted to be one of the fastest
growing businesses in 2015. In spite of facing a recent downturn, this business
seems to have performed well for the last 5 years.
➥ It is estimated that the recovery of the
economy will further lead to companies extending their IT budgets, thus
providing greater scope for IT consultants.
➥ Also, digitization, need for new IT
breakthroughs, technological innovations, mergers and acquisitions, cloud
computing, information security, etc., have created the right environment for
aspiring entrepreneurs to enter this field.
Personal Concierge
This is a very interesting business, where
you provide your services and expertise to enable your client complete his
tasks. These tasks may involve a range of activities from shopping to
scheduling their appointments to welcoming guests, etc. It can turn out to be a
very lucrative venture provided you get the right clients.
Interesting Fact
According to IBISWorld, this industry has
booked a revenue of around USD 220 million, with an average annual growth of
0.3% between the years 2007-12. It is a relatively new domain, and had about
658 businesses in 2012.
Viability and Growth
➥ Once upon a time, this business catered
only to celebrities, the super-rich and influential people. However, as the
disposable income of many corporate employees increased, they began to hire
such services for carrying out tasks in their absence.
➥ As most super-rich or influential people
spend their entire time at work, they feel the need hire such services. Hence,
there is a good demand for this type of service.
➥ However, please remember that this
business can be extremely sensitive to recession where people generally guard
their expenses and are not willing to spend on such luxurious services.
Professional Organizer
A professional organizer will not only help
individuals and organizations to de-clutter but also teach them innovative
methods of organizing their possessions effectively. He/She trains as well as
designs special processes and tools to save time and effort of busy
individuals.
Interesting Fact
This industry certainly seems to be booming
fast, and according to statistics sourced from the National Association of
Professional Organizers, it is said that 23% adults pay their bills late and
incur late fees as they keep losing the bills. As per the Wall Street Journal,
an average U.S. executive ends up wasting six weeks on an annual basis in
search of important documents which are lost in clutter.
Viability and Growth
➥ As people are increasingly getting
busier with their daily schedule, they hardly find time to undertake household
and commercial organizing, and that's why the popularity of professional
organizers has increased over a period of time.
➥ Also, these busy individuals have
realized the benefit of utilizing proper organizing processes for searching
material at a later point in time.
➥ As a professional organizer, you will
require a search engine optimized website and other advertising initiatives to
aggressively reach out to your intended market. This business is extremely
viable and promises to grow substantially in the year 2015.
Specialty Food Supplier
This is another lucrative business where
you can offer organic and natural foods to consumers through stores. You can
also sell them online. If you tap on the latest trend of allergen-free and
gluten-free food, it can prove highly beneficial for your venture.
Interesting Fact
According to statistics from IBISWorld, in
the US, this particular sector generated a revenue of around USD 8 billion, and
grew at the average rate of 0.1% from 2008-13, and had about 45,722 operational
businesses.
Viability and Growth
➥ Two reasons have primarily contributed
to the increase in this service or venture: One, the rise in the consumer's
discretionary income, and second, increased awareness about health and the
benefits of organic or natural foods.
➥ Initially, you can try to tap the local
markets for business. However, remember that you may face a tough competition
from established supermarket chains and grocery stores who will be vying with
you for customer attention.
➥ You will have to come up with some smart
and innovative business strategies to withstand such tough competition.
Application Engineer
The work of an application engineer
involves designing, creating, and testing new applications for mobiles,
tablets, and computers. A major prerequisite for starting this venture is to
acquire or possess the necessary skill or knowledge about mobile app
technology.
Interesting Fact
According to a report by
CNNMoney/PayScale's giving top 100 careers with big growth, great pay and
satisfying work; application engineer bags 22nd position on the list.
Viability and Growth
➥ As the need for various mobile,
computer, and tablet apps will only multiply and modify over a period of time,
this is one business which is here to stay.
➥ People often outgrow applications soon,
and want to try out something new every now and then. This has lead to many
companies hiring application engineers or firms. This is exactly why the demand
for this business has increased.
➥ Please remember that this is a very
dynamic field and constant innovation is a must for competitive survival.
Social Media Consultant
A social media consultant is often hired by
companies to maximize their presence on social media platforms and thereby
increase consumer base and market. As a social media consultant, you are
expected to know the current trends in social media and implement them for the
vantage of the company.
Interesting Fact
According to popular recruiting website
indeed, as of 20th January, 2015, a social media consultant could get an
average annual remuneration of around USD 40,000.
Viability and Growth
➥ Many businesses have become aware of
social media as an important communication tool for both inbound and outbound
marketing. They no longer prefer to take social media actions based on the
guidelines of the amateur marketing department personnel.
➥ They hire the services of a professional
social media consultant who understands their requirement, target market,
product, vision, marketing, etc., and frames professional strategies for them.
➥ There has been a tremendous increase in
such type of services as social media has become indispensable, and social
media consultants are the only professionals to have the right kind of
expertise for the job.
Retirement Services
This business involves offering various
services to senior citizens or the elderly. The type of services may range from
handling their investments to travel to relocation, etc. As a service provider,
you will be guiding the elderly in any one of the above-mentioned fields or
areas.
Interesting Fact
According to data collected from the U.S.
Census Bureau, in the year 2006, there were about 78 million Baby Boomers,
which comprised of nearly 26.1% of the general population.
Viability and Growth
➥ The rise in the population of Baby
Boomers has resulted in tremendous growth for this business. Also, as the Baby
Boomers indulge in post-retirement traveling, relocation, investments etc.,
this industry has been fast to catch up with increased demand.
➥ To start a business as a service
provider, it is advisable that you take up any one service among the various
requirements, and develop expertise and flourish your business before
diversifying further.
➥ However, this business may be subjected
to stringent rules and regulations, so do not forget to understand them
thoroughly before you initiate this venture.
Green Living Adviser
A green living adviser is expected to teach
businesses and individuals about the various ways of implementing 'sustainable
living' at work and home. Formal education in this field will lend credibility
to your business and will help you get clients.
Interesting Fact
As reported by the EPA, gas mowers
contribute towards 5% of air pollution in the US. An average gas mower during
its lifetime produces emissions equivalent to 43 new cars if each was driven
for 12,000 miles.
Viability and Growth
➥ As the awareness for sustainable living
will keep on increasing, this business will always enjoy good prospects.
➥ As the work of a green living adviser
includes guiding people to take the right "green" actions to reduce
their carbon footprint, energy consumption, etc., it is a business that will
always be in demand.
➥ However, remember that you will have to
keep abreast with the latest environmental rules and regulations. You will also
have to update your knowledge to implement innovate green strategies for
individuals as well as businesses.
Elder Services Provider
This type of business provides services
like companionship, adult babysitting, running errands, housekeeping, providing
home care, etc., to the elderly. Initially, you can start this venture by
providing services to the elders in your locality as they will know you personally
and will trust you.
Interesting Fact
According to a market research report on
Elderly (& Disabled) Services
in the US by IBISWorld, the revenue
generated by this industry was around USD 38 billion. It registered an average
annual growth of 4.7% between the years 2008 to 2013, and around 74,300 elder
service provider businesses existed in the US.
Viability and Growth
➥ Again due to the increasing baby boomer
population, this industry is expected to post strong growth figures. Many
people are on the lookout for reliable individuals who will provide care to
their elderly parents. They are ready to spend a good amount for providing
quality care.
➥ However, to provide home care or
healthcare to the elderly, you will require certain licenses and permits. Do
check with your local, state, and federal authorities regarding the same.
➥ Though this business idea faces stiff
competition from assisted living and nursing, this type of elder services will
continue to generate employment and business opportunity owing to increased
disposable income, government policies, insurance coverage for long-term care,
etc., of the elderly.
These are just some of the best businesses
to start in 2015. There are many other business options that can generate good
revenue. For starting any kind of business, make sure you consider the
licensing requirements in your city or state.
