The 10 Most Popular Business Startups
Some people become entrepreneurs because they have a passion for a particular thing. Others do it simply to make money. If you are in the latter category, then you are probably looking for good markets rather than pet ideas. You can do research to uncover the trends of modern consumer behavior or you can look at the kinds of businesses that are actually being started, which is a good indication of what people are buying and thus where the money is.
Entrepreneur magazine has a list of the 10 most popular business startups. You may be surprised to discover that firms selling technology services did not make the list. The excitement surrounding tech companies is often misunderstood. The money is not in the selling of such technology, but in using IT to more efficiently produce and sell other goods and services.
The Entrepreneur list includes the following businesses:
- Restaurant and bakery
- Retail and online store
- Bar and nightclub
- Farm and food production
- Construction and engineering
Some of these require specialized knowledge. It is probably unwise, for example, to try to start an engineering firm if you don’t know the first thing about the field. There are other industries, however, that only require good business sense for success. Farm and food production is in this category because the business is really a matter of retail and logistics. That is why it remains consistently at the top of the popular business startup list.
Concern over genetically-modified food and increasing preference for locally-sourced foods has contributed to the boom in this industry. Many entrepreneurs are entering this line of business as wholesale distributors of and brokers for fresh produce. Others fuse the entire value stream by opening specialty shops that sell goods delivered directly from nearby farms. This is an industry that is still open to a great deal of innovation, which is another reason it continues to be so popular.
The full list of popular startups in the Entrepreneur article can be found here. If you are driven by money and business success, you need not limit yourself in the kinds of ideas you’re willing to entertain. Your criterion for starting a business should be that it’s workable, lucrative, and has a ready-made market.
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About Christopher Reid Chris was born in Washington, D.C. and lives in Britain. He works as a blogger, essayist, and novelist. His first book, Tea with Maureen, has just been published.