Timing is everything. You want to jump into an industry at just the right second so that the upward momentum carries you toward success. You’ll have a popular business, happy clients, and a full bank account as a reward.
If you wait too long, you could miss that incredible opportunity. The market will be overcrowded. The customers will be taken up by the businesses that got there before you. Even if you’re lucky, your chances of success are slimmer.
Don’t hesitate. If you want to start your own business, find out what industries are booming right now.
How Do You Get Started?
You’re going to need a significant amount of capital to turn your business idea into a reality, and you don’t have time. You need speedy results so that you can jump into the industry right away.
Applying for grants can take months. Waiting for banks to approve your financing can take weeks. But First Down Funding can approve your online application for business funding within 24 hours — you could get your answer immediately after you send it in. And even better, you can access the funds in a matter of days. Now that’s fast.
What Industries Are Booming?
1. Micro mobility
Commuting by car doesn’t always make sense, especially in a densely-populated city. Most of the time, your destination is only a few minutes away. This is why more and more city-dwellers are turning to scooters, e-bikes, and other micro-mobility options. These options are perfectly convenient for short commutes. They’re eco-friendly. And they’re a lot more affordable than owning a car. Users can save on car payments, parking, gas, insurance, and maintenance fees.
It’s estimated that micro-mobility options could replace 48% of car trips in 10 major cities across the country. That’s a massive business opportunity.
2. Food Trucks
What was once thought of as a minor hipster trend, has proven to be a goldmine. It’s currently an $800 million industry that doesn’t look like it’s going away any time soon — in fact, it looks like it’s only going to keep growing.
One of the best parts about starting a food truck business is that the overhead will be much cheaper than a standard brick-and-mortar location. So, if you’ve always wanted to open up your own restaurant or café but haven’t come up with enough capital for the location, you can find a happy compromise with this vehicular option.
Tech companies are the way of the future. The forecasted job growth for 2016 to 2026 alone is 120% — this projected prosperity is bigger than sectors like media, consumer retail, construction, and hospitality. Now is the best time for aspiring startup creators to get their ideas for cloud computing, AI software, and smartphone apps off of the ground.
Get your business plans in order, apply for funding, and jump into an industry while it’s still booming. Strike while the iron is hot. You don’t want to sit there and watch as this amazing opportunity rushes past you. It’s time to make a move.