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Hot Businesses For 2008

By Bigg Success Staff
12-28-07

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Some overriding trends still drive the list of hot businesses for the coming year. There’s an excellent article from Entrepreneur entitled 2008 Hot List. If you’re looking for a business, you’ll find this article helpful.

The article, written by Lindsay Holloway, Amanda C. Kooser, James Park, Laura Tiffany, Nichole L. Torres and Sara Wilson, provides insight into a number of industries that are ripe for aspiring entrepreneurs.

We’ll provide our own summary here, but you owe it to yourself to check out the full article.

Upscale food and drink
If food or drink is your forte, there’s plenty of opportunity if you can find a micro-niche. With alcoholic beverages, the bottom line is premium is hot. People are drinking less, in general, but when they do, they’re choosing higher quality pours.

There’s also increasing opportunities in enhanced beverages, as the twenty somethings look to liquid refreshments as a near cure-all. Look to Asia for the latest taste trends

As consumers get more and more selective in their food, micro-niches are expected to grow. Organic foods are hot. Now people are looking for even more specialization such as allergen-free, gluten-free, and low glycemic foods. While you’re pondering the possibilities, don’t forget about dessert – consumers with special needs still have a sweet tooth.

In the food service arena, there’s plenty of opportunity as well. English pubs that serve high-quality food, known as gastropubs, are showing great promise.

Upscale dessert shops also hold promise. Whether it is cupcakes or frozen desserts, there’s plenty of opportunity for a sweet business.

Baby boom
The baby boom is nearing retirement age. With that come incredible opportunities to serve them.

As the boomers exit the job market, they’re also creating demand for staffing services that can fill their jobs from the shrinking pool of qualified candidates. On a related note, medical staffing firms are expected to thrive given the growing shortage of medical professionals combined with the aging population.

Seniors want to remain in their homes as long as they possibly can. This is creating huge demand for concierge services that coordinate home health care, financial planning services, non-medical care, and more.

Tweens and teens and twenty somethings
They have more money to spend than any group this age in history. And they’re used to spending it. They want the latest and greatest of everything. Their short attention spans may just create an opportunity for you.

Content is king and this group demands a lot of it – right on their mobile devices. Mobile content, web applications for social networking sites, and online games all have huge market potential.

Educational services are expected to grow. Consultants who help families steer through the college entrance process are expected to be in demand. So are providers of online tutoring as well as developers of courses that can be delivered via the web.

Green movement
Green is starting to produce green. There are an abundance of opportunities developing for entrepreneurs who want to do well by doing good.

High energy prices are creating opportunities in alternative energy, such as solar products. Home automation is hot, partly because of the savings, but also from consumer’s increasing desire for new technology.

Consultants are in demand to help firms with their environmental initiatives.

Shopping
The desire to shop ‘til you drop hasn’t changed. There are plenty of opportunities to open your own retail business – either online or the old-fashioned way.

The hottest categories are accessory items, like sunglasses, handbags, and specialty shoes. Consumers are on-the-lookout for that special something that makes them stand out.

Home party sales, of just about everything you can think of, are raising the roof! And good news if you’re crafty – homemade goods are hotter than ever!

Finally, don’t forget the pets – demand for pet products is expected to continue to rise as consumers pamper their pets as much as they indulge themselves.

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