As autumn draws in, it’s a good time to take a look at some of the best business ideas of 2017 to get your creative juices flowing and your entrepreneurial brain buzzing. Start preparing your launch plans for 2018 with these ideas as a springboard!
One of the best ways to ensure success with your new business is to find a niche with opportunity for growth. In today’s gig economy, the opportunities are endless! From self-employed taxi drivers with Uber, through to ad-hoc handymen on TaskRabbit, anyone and everyone can make some extra cash (or launch an entire business) if they find a new opportunity within a market.
We’ve come up with some of the biggest business areas for growth of 2017 to help you decide if you can set up your new business to incorporate any of these sectors and maximise your growth potential!
1) Craft Ale
While it may seem like everybody and his dog is now a brewery, take a closer look and you’ll see that microbreweries are still on their meteoric rise. People have turned away from mass-produced lagers in favour of unusual hop combinations and new ingredients to bring some excitement to their Saturday revelries in the pub.
The growth is so fast in this industry that new startups, such as Cloud Water, have seen first-year turnovers of £500,000, and make confident predictions to take this to £2.5m by their third year of operation. The growth is down to a change in consumer behaviour: people are choosing to buy their craft ale from smaller production lines, savouring the experience of something bespoke with a personal story behind it – instead of a mass-produced global brand.
2) Alternative Fitness Classes
Gone are the days when a simple spin class would do – people continue to want more extreme and unusual ways to get fit. Thrillseekers might go for rock-climbing, while gym bunnies are taking up pole-dancing.
The fitness industry is huge: it’s estimated that the sector grew from £6.6bn in 2015 to £7.7bn in 2016 – and it’s still going.
Tap into unusual fitness trends and find new ways to encourage people to get fit. From aerial silks to ballet classes, a niche and novelty opportunity to get fit is sure to catch people’s attention!
3) Sugar Free Drinks (And Healthy Fast Food)
Don’t just tap into the growing health and fitness industry through offering exercise classes – make the most of new legislation to boost sales! The new sugar tax is coming in 2018 – so anyone with experience in developing food and drink has a great opportunity to launch their own new, sugar free business.
Another option to take advantage of the new, Government-led, focus on healthy eating is to address the lack of fast food option for health-conscious workers. So many people grab a sandwich for lunch – but they often wish for more tasty, healthy, and interesting options!
Creating a healthy fast food bar in a busy office district will guarantee you good custom from your first day – and it’ll help you to improve the health choices of others, too!
4) Virtual And Augmented Reality
We’re in the future now, kids: virtual reality has become, well… a reality. Now’s the time to become a pioneer in virtual reality innovations and grab the biggest slice of the soon-to-be-huge pie.
WaveOptics, a UK company, is doing just that. Innovators in AR and VR, the company was created in 2014 and earlier this year, secured an investment of £12m to make augmented reality mainstream.
While it may seem that virtual reality is ‘just a phase’, it’s actually in a huge state of growth – with an anticipated global industry worth of $143.3bn by 2020. If you’re tech-savvy, this could be the startup niche for you!
5) Pet Services
From borrowing someone else’s dog for the day to raw pet food, the pet industry is booming: in 2016, UK pet owners spent a record £7.16bn on their pets. People love their animals as much as they love their children – and are prepared to pamper their pooches to show them how much they care!
Traditional services such as dog walking in the daytime are still great new businesses for entrepreneurs to start up, but the huge growth in the sector means you can think more laterally to come up with a pet-perfect idea that’ll simply rake the money in. From wheat-free doggie cupcakes to pet massage therapy or swimming lessons, if humans would like it – you can bet there’s space for a pet-friendly version in the market, too!
Enter Our Launch Of A Lifetime Competition
There are so many growth industries right now, it’s a great time to be an entrepreneur. If you’ve got a business idea you’d like to see become a reality, now’s the time! Our Launch Of A Lifetime competition will see one lucky winner receive over £6,500 of prizes to help boost their startup. All you need to do to enter is click here.