Sometimes aspiring entrepreneurs are just looking for a little inspiration. If you fall into this category, we’re here to help. We’ve hand selected business opportunities for you based on recent and popular trends. They’re concepts that we find exciting and inspiring, and our hope is that they will spark a little creativity in you and get those juices flowing.
Box Subscription Services
You’ve seen them advertised. Box subscription services like BarkBox, Stitch Fix and Blue Apron are the new retail trend and becoming increasingly popular. When Birchbox launched in 2010, it set the wheels in motion and now the industry is booming.
Depending on the customers’ interests, they simply need to go to the website, complete a profile survey to determine their personal styles or tastes, and that’s when the fun begins. Each month, a “surprise” package arrives filled with things like beauty supplies, clothes, food, dog treats… you name it.
To turn this rising trend into a business opportunity, find a category that’s still untapped… or simply put your own spin on a category that does exist. The prices generally range from $10 to $100 for higher-end items. But experts believe that to stand out, the cheaper the price, like Dollar Shave Club, the better chance to succeed long-term. So start thinking, how can you get in on this?
Rental-Sharing
Much like Uber and Lyft have completely disrupted the traditional cab industry, Airbnb has done the same to the hotel industry. Even more, entrepreneurs have jumped on board and have turned the rental-sharing platform into a small business opportunity. Some of these renters have multiple units available 365 days a year and bring in hundreds of thousands of dollars.
Property rental provides a way for homeowners and renters to earn extra income, and depending on how many, and what type of, properties they have, it can be quite lucrative. Maybe you could scour the classifieds for something to buy with the intention of renting it out full-time. Start with one property and work your way up to more.
Educational Apps for Kids
Let’s face it… kids today are more connected than ever. Especially within the last few years, you’d be hard-pressed to find a kid who doesn’t have access to a tablet, smartphone or other mobile device. What this means for you is a possible business opportunity if you can dream up or create an app for kids.
A no-brainer is to create a fun game that could catch fire, like Angry Birds or Minecraft. Their popularity has broken records and made a lot of money. Or you could think outside of the box and come up with something educational and even practical, like Kids Money, an app that teaches kids about money, or Hopscotch, a STEM education app is a great introduction to coding. If you can come up with something creative and fun that wins over both the kids and their parents, you could have a very lucrative business venture on your hands.
Other Notable Trends
According to Foursquare data, the tastes of Americans have been changing during the last few years. Somewhat surprisingly, there was a decline in food truck dining, to the tune of 21 percent compared to January of 2014. That’s a significant decrease for what was once a hot craze. But other food trends are on the rise, like bubble tea, a tea-based beverage mixed with fruit or milk and then finished off with tapioca balls or fruit jellies. Visits to bubble tea shops are up 192 percent.
