When it comes to the best business opportunities, contradiction is the key word for 2007. While we’ll see ever-increasing conspicuous indulgence, buying patterns will also reflect more of an emphasis on health than ever before. The same people going out for cheesecake will be picking up more yogurt on their way home from the gym.
The best business opportunities of 2007 are those opportunities that meet people’s needs on one end of the scale or the other. Here, in no particular order, are my predictions for the best business opportunities for 2007, business opportunities with the best potential for profit and growth.
(For more of what I consider to be the best business opportunities, have a look at the sidebar; the More Business Opportunities box lists articles that present some of my past predictions for the best business opportunities of the year. Note that many of these business opportunities will work as home businesses. If you are particularly interested in starting a home-based business, you may also want to read Top 10 Home Business Opportunities.)
The Best Business Opportunities for 2007
1) Nutraceuticals
Consumers want more than just nutrition from their food – they want health benefits, too. We don’t just eat tomatoes because they’re tasty, but because we know they’re filled with lycopene which helps fight prostate cancer. The market for nutraceuticals and functional foods, says Agriculture Canada, is “large, global and growing”. In 2004 Canada's functional food market was estimated to be worth $2.7 billion. Find out more about the kinds of nutraceuticals you might produce here.
2) Agritourism
Agritourism is another rapidly growing industry; there’s more interest in farm vacations and farm-related activities than ever before. If you have a farm, it’s easy to get in on this best business opportunity. Add a picnic site and playground to your farm and open a booth for on-site sales or create an event such as a hay ride or artist’s retreat. There’s also a great opportunity for tourist agencies in creating agritourism packages. The fastest growing part of the industry? Winery tours.
3) Human Resource Professionals
One of the predicted problems of the future is already here – a labour shortage. In fact, the CFIB (Canadian Federation of Independent Business) calls this the number one problem facing SMEs this year. Headhunters, recruiters, employment agencies - turn this top problem into a top business opportunity by being the person or people able to solve staffing problems for small and medium-sized businesses.
4) Personal Memoirs
I don’t think many of us spend much time thinking about writing our life stories. But the life stories of our parents or grandparents – now that’s another story. Many of us would appreciate having a record of our loved ones’ lives before it’s too late, but don’t have the time or talent to do it ourselves. Enter the memorialist, who will interview the subject and craft those stories into a handsomely bound book. Memoir companies also prepare all kinds of other personal stories, from pregnancy memoirs through pet histories.
5) Renovation Management
You already know that trades people are going to have another superlative year as the renovation boom continues. Conversely, this means that many consumers are going to have bad years (or at least extremely stressful, irritating ones) as they struggle to get through whatever renovation they have planned. If you’re a super-organized person who can get the right trades people to show up to work on time and finish their work by set dates, this could be a golden business opportunity for you.
There are five more of the best business opportunities for 2007 on the next page. Click to continue reading...
