Here are five more of what I consider to be the best business opportunities of 2010:
6) Heating and Cooling Products and Services
Heating and cooling products and services are great business opportunities this year because the industry gets a boost from government environmental incentives. When installing a heat pump in the home not only saves money in the long run but gets you a rebate or a tax break, consumers are much more likely to do it. Small businesses that install and service furnaces, heaters, gas fireplaces, air conditioners, heat pumps and the like will thrive.
7) Local Food Suppliers
Business opportunities supplying local food are another example of how consumer demand shapes the marketplace. Hardly anyone even bothered to read a food label five years ago; now knowing exactly where your food came from and how it was grown or raised is all the rage. It's a good thing, I think – especially for people involved in producing local food. Farmers' market and farm gate sales are increasing, but don't forget that retail markets and restaurants specializing in local food are also good business opportunities.
8) Nutrition Consulting
People's concern about food and how it's produced has also translated into a bonanza for the food as health movement. Besides jumping on the bandwagon and buying whatever food is being currently promoted as having spectacular health benefits, consumers are looking for food information tailored to their lifestyle and health concerns. It will be a banner year for nutritionists, but also for naturopaths.
9) Social Media Marketing/ Management
Unless you’ve been hiding in a cave somewhere for the past year you know how social media has grown and how it's come to be viewed as the next holy grail in marketing for businesses. What you may not have noticed is how difficult it is for many businesses, especially small businesses, to use it, making Social Media Marketing an excellent business opportunity. If you can promise and deliver actual effective social media marketing campaigns, they will come.
10) Business Security
The trend for businesses to beef up their security will continue, creating all kinds of business opportunities for products and services, from biometric security systems through security guards. Note that the type of security in demand tends to vary greatly with the size and type of business; small businesses are much more likely to invest in an alarm system than in a fingerprint identification system.
Why Are These the Best Business Opportunities?
Because these are business opportunities that have legs. Taking into account the economy, consumer and business trends, these are businesses that should be profitable not just for 2010, but for years to come.
But not every business opportunity is right for everyone. You always need to do your homework; writing a business plan is a good (and safe) way to find out if the small business opportunity you're considering is worth investing your time and money in.
