And here are six more of what I consider to be the best business opportunities for people wanting to start and run small businesses:
5) Low-Carb Foods
As the popularity of the Atkins diet continues, there will be an increasing demand for low-carb alternatives. While low-carb products are a hot business opportunity in themselves (either retail or online), offering a low-carb dining experience, either in a restaurant setting or through meal preparation for at-home consumption, also has excellent potential.
6) Home Design/Decor
Home designers and decorators are also going to benefit greatly this year from the continuation of the "my home is my castle" trend. More and more people are going to call on the services of designers to produce the look and style they want rather than trying to do it themselves - even if they can only afford to have a single room in their house "done". Window treatments and flooring will be especially hot this year.
7) Landscaping
While the demand for all kinds of landscaping services will increase this year, landscaping design services will be an especially hot business opportunity in 2004, driven by the needs of an aging population. Landscapers who can redesign existing gardens to make them easier to look after and landscapers who are experts in designing small space gardens as people downsize and move into smaller homes will be especially in demand.
8) Fitness gear and products
There's a large body of evidence now supporting the connection between exercise and health and consumers are starting to pay attention. Many more Canadians will make exercise of one kind or another part of their daily lives this year, making almost all products related to fitness hot business opportunities this year, from gym wear through snowboards. Renting out sports/fitness equipment is another business idea along these lines that will do well this year.
9) Yoga
Yoga will make a big comeback in 2004, providing business opportunities for yoga instructors and yoga-related products from how-to books and videos through mats and gear. Why not? It's easy, it's pleasant, and the combination of meditation and increased flexibility appeals to all ages.
10) Mobility Supplies
I've written before about how the best business opportunities result from meeting needs that aren't being met. Many people suffer decreased mobility as they age, and finding the products they need to increase their mobility can be difficult. A business specializing in products like this, ranging from motorized scooters through reach extending tools, could be a golden business opportunity.
So there you have it; ten business ideas that I think will be hot business opportunities in 2004. But remember; if you have an idea for a new business that's not on this list, that doesn't mean that it's a poor business opportunity. The best business opportunity for you is the one that best matches your talents and your target market. Whatever business you choose to start, I wish you the best of luck in your new venture.
