Cocooning is the keyword driving business opportunities in 2003. Thanks to the combination of baby boomer demographics and volatile world affairs, consumers will go to great lengths to feather their nests and look after their own. Here are my personal predictions for the best business opportunities in 2003 for people looking for the best businesses to start this year:
1. Home Renovations
If you tried to hire a contractor in 2002, you know that home renovations were big business. Huge numbers of consumers will continue to renovate and update their homes this year, making home renovation services the best business opportunity of 2003. Kitchen and bathroom renovations will top the list again, but contractors such as electricians will also do well.2. Interior Decorating/Home Decor
Because many consumers don't trust their own taste or have the time to do it themselves, home decor services will also be a real business opportunity this year. Franchises that capitalize on creating a "total look" will do especially well, but there's lots of room here for the individual entrepreneur with a strong sense of style. Floor covering and drapery and linen stores will also benefit.3. Anything To Do With Dogs
The average dog owner spent hundreds of dollars on gifts for her furry friend this past holiday season; in 2003, Fido will be King. The standard dog service businesses, such as walking, grooming, and training are good bets, but the best business opportunities will be "dog-only" enterprises such as dog-treat bakeries, dog-only restaurants, and doggie daycare. 4. Private Medical Services
You may not like it, but private medical services are going to expand significantly in 2003. The ever increasing need for various kinds of eye surgeries, knee surgeries and hip replacements will see clinics springing up across the country. Clinics specializing in private medical testing, such as CAT scanning, won't be far behind. If you can get in on this business opportunity, do it.5. Emergency Preparedness Kits
With the world teetering continually on the brink of war, anxious consumers will want to "buy" as much security as possible and be ready for anything. Emergency preparedness kits will fly off the shelves throughout the year, and survival gear of all kinds will do well. 6. Conferencing Systems
Conferencing systems will be a business opportunity bonanza in 2003, as more and more businesses seek safer, less time-consuming ways to meet. It will be a very good year indeed for companies who sell video conferencing systems, but don't overlook telephone conference systems, web conference software, and real-time conferencing on the Web. E-conferencing will take off this year.7. Senior Care Facilities
With an ever-burgeoning population of people over 65 and people living longer, the need for facilities that provide intermediate and advanced care for seniors will become even more acute in 2003. From private homes through senior's only apartment/condo complexes that offer some level of on-site care, look for ever-increasing opportunities for private investment and development.8. Coaching Services
Coaching services came into their own last year, but this is the year that this new industry will take off. Personal "life" coaches, business coaches, and coaches specializing in topics such as time management are all going to be very busy this year. 9. Surveillance Equipment And Repairs
Security will continue to be of paramount concern for businesses, making providing surveillance equipment, such as surveillance cameras, a good business opportunity in 2003. And don't forget the opportunity to maintain and repair the surveillance equipment and provide monitoring services. 10. Old-Fashioned Skills
Services and products dependent on old-fashioned skills that no one much practices any more will be in high demand this year. For instance, cabinetmakers, cobblers, farriers, and dowsers will all do very well this year, because of people's nostalgia coupled with a demand for high quality. If you have the skills, this is your year.
