Business is constantly evolving, and those looking to build their own are often looking for an industry that they’re not only passionate about but is going to grow for them to plant their own corporate garden. If you’re wanting to take a peek at what’s trending for this year, here are 8 great business industries for start ups in 2020.
Best Business Industries for Start Ups
Choosing a business industry for your new start up can be challenging. If you’re like me you’re probably passionate about a lot, filled with plenty of ideas. So, here are a few industries that you should consider taking a look at:
#1. Corporate Wellness Services
It’s 2020 and most companies are looking into wellness plans and services for their employees because we now understand the incredible importance that wellness plays in business, not to mention how much more profit they can make if they have happy employees! If you’re an expert in wellness (or you want to be), corporate wellness services might be a great business industry for your new start up.
#2. Sustainable Beauty Products
Sustainability is all the rage, and for good reason. People are now paying attention to what they’re putting onto their skin (like the should be). Take a company like Native Deodorant who is mixing traditional beauty sales with a subscription service model. You can purchase a one-off deodorant, or you can have it delivered to you or you can get a subscription set up and have it delivered to you. If you’re looking for great business industries for start ups, this might be the one for you!
#3. Gender-Neutral Self Care Products
It’s not just women who are looking for great self care products, everyone is! The gender-neutral self care product industry is blooming, and if you have a great idea there’s room for you. Women are sick of paying extra for specialized products (I know because I am) and men are looking for great products for themselves, so now is your time.
#4. Street Food Vendor
If food is in your future, then you might want to consider becoming a street vendor. According to Forbes, this is one of the best business industries for start ups due to its 3.7% projected growth. While I’m no expert in food sales, I could imagine this would be a great choice for trendy bar-heavy industries later at night. Bonus points if you use a farm-to-table model as the slow food and sustainable trend is growing considerably.
#5. Online Dating
Do you love love? So many people are looking for the perfect app, platform or person that can help them find that special someone in their life. Especially in 2020, this is a great business industry for start ups. Love is a multi-billion dollar industry, and it’s a service that people are always looking to use. Consider matchmaking for your next start up if you love helping others find love.
#6. Self Improvement
Self-improvement is a multi-billion dollar industry that only seems to be growing with the “self-care” boom. If you’ve got a great idea for self-care or a service you want to provide, now is a great time for you to get started. From coaching and online courses to writing and services, there are a ton of things you can do. The masseuse industry is a large part of the self-improvement/self-care movement. You may benefit from starting a company in this area, just make sure you uphold the reputation you would like. For example, if you want to offer extra services, then the asian massage stories will work in your favour; but if not that’s also completely fine! Just steer your business in the direction you want from the start.
#7. Subscription Services
I can attest to the fact that subscription services are a growing business industry for start ups in 2020 due to the fact that I literally just signed up for another one. These services can be in anything from a monthly book club, makeup service, stylist services or food delivery. People love having things delivered right to them, and they love things curated on their behalf. It’s great!
#8. Finance
The finance industry is constantly growing. From fintech to money blogs, there’s always something going on in finance. If you’re a money expert, there is definitely room for you in this business industry in 2020.
Looking for Other Business Ideas?
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Tae started out as a journalist before following the money into the corporate world. But it turns out that the grass isn’t always greener and now you can find her spending most of her time writing about all the things she loves. Namely, money, travel and business with a hefty dose of self-deprecating humor. She is a podcast fanatic, blogging aficionado and loves to find new ways to turn passions into cold hard cash!