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Not all industries are created equal and not all industries are worth investing in. As the job market improves and unemployment rates drop - to 3.8% in February 2019, to be exact, your next business investment may just be around the corner. You may have your specific interests, your niches, and your curiosities; however, some of those may be more valuable in today’s market than others. If you are buying a business in 2019, here are 5 of the best industries to consider.
Think electric-powered bikes, scooters, and skateboards. A future free of petroleum-driven vehicles and increases in simplified urban transportation means this industry is booming with no signs of stopping. In fact, Ford just acquired an e-scooter start-up called Spin for $100 million at the end of 2018. This, in addition to market trends, shows that increased awareness in this industry means now is the time to invest in it. To do so, however, you need a team that not only understands the current technology but is ready to begin improving and inventing for the next big thing.
There is quite the demand for products containing Cannabidiol, or CBD, in the US. This natural component of cannabis and hemp is not a drug but has shown to have properties that aid in anti-anxiety, anti-inflammatory, and pain-relief needs. As the holistic community continues to grow in its awareness of the benefits of CBD, now is the time to buy a business dedicating its energy into the creation of CBD products - think creams and other skincare, diffusers, and candles.
TechnologySince the iPhone was released in 2007, smart technology has gone from an exciting new product to an everyday necessity. You would be hard-pressed to find any individual further than two feet from the nearest smartphone or smartwatch to check their email, text messages, and heart rate. The industry is expanding to target babies - everything from fertility tracking and breastfeeding to helping newborns sleep. As this kind of technology becomes the norm, it becomes much more accessible to both producers and consumers. Without a doubt, experts say technology regarding babies is the next hottest thing to invest in.
Who does not want to look business appropriate without compromising comfort? Because the answer is likely no one, this industry has continued to grow and grow with no signs of stopping. An outfit that is both comfortable and can easily transition from office to the gym is highly sought after. If you are in the retail industry or interested in beginning a career in apparel, workleisure is the way to go.
5. Personalized Nutrition
As Americans become more aware of preventive medicine and lifestyles, nutrition has become a hot topic of conversation. Be it the Keto or vegan diet, not every “healthy” person can agree on which lifestyle is full-proof and the right one to follow. In fact, much of this has to do with the fact that not all two bodies and digestive systems are alike. Cue: personalized nutrition. An industry incorporating your genetic makeup with your physiological needs.
What these five leading industries show us is that technology and health are the biggest players. Whether it has to do with mental health, fertility, or nutrition, technology can play a role in simplifying and improving our everyday lives. If you are hoping to be one step ahead of the game with your next investment, consider these industries your best bet.
As you narrow down your choices, think about talking to an expert at Transworld Business Advisors. Familiar with following market trends and the businesses that are being bought and sold daily, their expertise can be exactly what you need to make that final decision. Contact TWorld.com/Renton for a free consultation.