| 4 Best Industries For Starting A New Business Venture Today

Posted in Start-up Ventures at 5:00 PM by Loftis Consulting

As years go by, there are always certain industries that are profitable for entrepreneurs. Today, we take a look at four of the best industries for starting a business in 2017. All of these industries will make a lot of money now and in many years to come.

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(Link: http://bit.ly/2nyi4CA)

Construction

The construction industry is a very good one if you’re keen to start a small business venture. Creating your own construction company that builds houses or does general building work has always been popular.

There are a few reasons for this; firstly, a construction business is fairly easy to start up. You don’t require a lot of resources, and you can probably get one started with just yourself and a partner. This is how most of them begin, and then they expand into bigger organizations with more employees, more equipment, etc. The one trick with a construction business is to purchase some of your equipment rather than renting it. Things like the end dump trailers seen here www.Constructiontrailerspecialists.com/trailers/end-dumps, are going to be used all the time for site clearance. So, it makes sense to spend money on one or two and own them, rather than paying rent all the time. The same goes for general tools and equipment that you’ll use for every single job no matter what it is. Then, anything that’s not constantly essential can be rented, and you save money.

Construction is a good industry to venture into as there is a lot of money to be made. People are always going to need a company to help build something or fix something. Plus, you cater to both commercial and domestic markets, which expand your client outreach.

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(Image: http://bit.ly/2oKQdiA)

Retail

You might think that retail is a dying industry, but it really isn’t. While regular brick and mortar stores are dying out, the online retail world is booming. It represents a great chance to make a lot of money, and there are many reasons you should start one.

For one, it’s incredibly low-cost to start an online retail company. All you need are products, a website, and a shipping method. There’s no need to pay for any business premises, and this saves you loads of money over time. Plus, you don’t need to have many employees either, which again will lower the costs of running this business quite dramatically. Furthermore, with online retail, you get the benefit of a really big customer base. You can sell things to people all over the world which means there is always someone out there that you can try and turn into a customer. There are few business ideas that allow you to open yourself up to such a wide market and have success.

But, online retail isn’t the only way you can start a profitable business venture in this industry. Traditional brick and mortar stalls aren’t as popular as they used to be, but you can start a business that looks like a brick and mortar but heavily uses retail technology. This is a fairly new concept where traditional stores are reinvented. You can see a good example of this in the article here https://www.ft.com/content/c4b8af64-6c37-11e7-bfeb-33fe0c5b7eaa which looks at how China’s retail industry is changing. Now, stores are opening without any employees, and there are plans for stores packed full of technology so you can go in, take what you need, and it gets charged to your account automatically. Starting a retail company in this area of the industry can be incredibly profitable in the future.

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(Photo: http://bit.ly/2p4Q6hy)

Technology

The tech industry is obviously one of the greatest industries to start a business venture in this year. It’s booming at the moment, and things are set to get even better over the next few years and decades. 2017 is probably the peak time to get involved as we’re at a point where there’s a lot of good technology out there that’s still not reached its potential.

One example that springs to mind is 3D printing, this is something that’s starting to become more common in regular life but is nowhere near reaching its potential. There will be so many great things you can do with this technology in years to come, and so much money can be made here. Another example is drone technology which is really booming right now. However, there is still a lot that can be achieved with it. No matter where you look in the tech industry, there’s always something going on. There are always new things you can develop, and new business ventures to consider.

This is probably the best industry to start a business in if you really want to think ahead. The great thing is, it’s not hard to start a technology business. The costs are generally low, which makes the potential for profits very high.

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(Source: http://bit.ly/2o2PHyU)

Healthcare

If there’s one industry that’s always been great to start a business in, it’s healthcare. People depend on companies providing them with healthcare. They need doctors to tell them what’s wrong with their bodies, they need dentists to look after their teeth, and they need a whole host of other healthcare professionals to help with all manner of issues.

When you start to look at the healthcare industry, you realize there are loads of different business ventures you can start. Private healthcare is increasingly popular and becoming more and more important by the day. People are calling out for affordable companies to start up and provide healthcare for regular individuals. You can see here http://www.profitableventure.com/healthcare-business-ideas/ for a list of great healthcare business ideas to start in 2017.

Unlike the other industries on this list, businesses in healthcare can often have a lot of overhead costs. However, money is almost always guaranteed as customers are also almost always guaranteed. There is always going to be someone somewhere requiring a health care service, and this will continue until the end of time.

If you’re an entrepreneur that’s keen to start a new business venture, consider diving into one of these industries. There are so many ideas within each industry, and they’re all built for now and the future.

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