FOR THOSE WHO ARE THINKING OF STARTING A BUSINESS, HERE ARE SOME AREAS TO WATCH IN 2018.
New businesses are popping up all the time. Getting into an established franchise is one way many people are becoming business owners, another is just starting from scratch with a new business idea. Entrepreneurs are those people who want to do things their own way and make it work. Often, they see a need and find a way to fill it. But there are always certain sectors that are hot at any given time. In 2018, here are some of the areas that entrepreneurs are looking at.
Recently marijuana has been all over the news is. Whether for recreational or strictly medical use, marijuana is now legal in more than half of all U.S. states. Now that it’s legal in many places across the country, people can see the huge potential for profit in many areas that support the business and are finding ways to get in on the action. Everything from transport, growing technology and display suppliers just to name a few are areas for startups.
Virtual reality is another area that is creating a huge market as it becomes ever more mainstream. Many new players are entering the game with project terms such as “augmented reality” or “Virtual reality” being up 38 percent compared to 2015 and up 514 percent since 2013. There’s exponential growth in this area and plenty of room for those wanting to explore the market with new and innovative business ideas.
People are looking for different experiences and so there’s the “Alternative Travel Business” market. Things such as boutique hotels and Airbnb are forerunners in this field but it’s growing, and so is the diversity of offerings. Projects with the terms “Airbnb”, “van rental”, “camper van” and “boutique hotel” have increased by 27 percent in the pas two years and are up by 211 percent since 2013.
So, if you’re thinking of starting a business, these are some good areas to look at this year.