Here they are; my predictions for the best business opportunities of 2005. Whether you're looking to start a business of your own or to invest in a small business, this list of business opportunities is a good starting point.
What makes these business opportunities the best? In my opinion, in terms of current trends, these are the business opportunities with the best potential for profit and growth.
(For more of what I consider to be the best business opportunities, see Top 10 Home Business Opportunities - or take a peek at my past predictions for the best business opportunities of the year in the Related Resources box in the sidebar.)
The Best Business Opportunities For 2005
1) Interior Decorators and/or Designers
The home renovation boom continues this year with one twist; fewer people want to do what it takes themselves. It won't hurt the big Do-It-Yourself retailers much, but it will provide lots of business opportunities for decorators and designers who can provide the advice (and legwork) consumers are looking for.
2) Bed and Bath Products
Consumers will continue to "feather the nest" this year - and they want those feathers to be as downy and luxurious as possible. That makes fine linens, bedding, window treatments, towels and accessories a best business opportunity, both retail or as an adjunct to a design consulting business.
3) "Practical" Tourism
Think about flu shots, gay marriages and prescription drugs. What do all these have in common? They're all practical reasons Americans have travelled to Canada over the past year. The trick to cashing in on Practical Tourism, as I've dubbed it, is to recognize the need and be able to move fast to arrange the trips visitors want, before the perceived need expires.
4) Residental Cleaning Services
Cleaning services are no longer viewed as just for businesses or just something to get done when you move; more people than ever before are willing to pay someone else to take the home cleaning chores off their hands. Both general housecleaning services, such as weekly or monthly cleaning, and specialty cleaning services, such as cleaning blinds, are a best business opportunity because this is such a growing market.
5) Land Use Consultants
If you have the skills, this is another industry that's growing exponentially. While we tend to think of land use experts being called in on big projects, there's a growing trend for small businesses and individuals to seek out these services, and this trend will only increase as the boomers leave the cities and start building on their "dream' properties.
Continue on to the next page to read about more of the best business opportunities for 2005...
