Diane Smith, World Executives Digest | Even with all the logistical groundwork, one of the hardest things about starting a business is having the right idea. Still, what makes an idea a good one? Sometimes, in a moment of inspiration, you will get what you believe to be a million-dollar idea, only to find out later on that people aren’t actually willing to pay for what you have to offer.
Luckily, in 2018, business ideas are bound to become more and more data-driven, which means that one will easily be able to validate their notions and in that way embark on a much safer business adventure. With this in mind, here are five interesting business ideas that look promising enough to make it in 2018.
The first thing you need to know about the world of tomorrow is that it is more connected than ever before. The language barrier is the last remaining obstacle and the only way to overcome it is through an adequate translation. Sure, a number of gadgets and various software have tried to automate this service, however, the contextual and situational circumstances are so complex, that they require a human touch. This is why most experts agree that machines will never replace human translators.
VR and AR apps
Due to technological advancements in VR and mobile devices, nowadays, we are seeing more and more virtual and augmented reality apps out there. In the past two years, we’ve seen them go global through apps like Pokémon Go and Snapchat. Therefore, one of the best ways to make a breakthrough with your app in the following year is to add some AR or even VR features to it.
Over the past several years, drones have grown in popularity and there is a way for you to profit from them. Sure, one can get a low-end drone for as little as $25 but for people who are a bit more serious about what they need this drone for, this simply won’t cut it. Therefore, you might purchase several high-end drones and start a rental service. You will be surprised just how many people might be interested in your services.
There are more and more pet owners in the world and a lot of these people spare no expense when it comes to their beloved pets. Therefore, starting a business in the pet services industry might be the most sensible move in 2018. Here, you can go with anything from pet training to pet sitting. In fact, those with a bit more money on their hands might even think about starting a pet hotel or a playground.
Starting a restaurant
While the competition in the food industry may seem quite tough, the truth is that there’s work for everyone. First of all, this is probably the single industry where people are always open towards trying out new stuff and where brand loyalty doesn’t lead to the rejection of all competition. Furthermore, with platforms such as Yelp, it is now easier for a young business to make a breakthrough than it ever was. Finally, nowadays, you can order some highly-specialized pieces of equipment, like an industrial agitator, online.
At the end of the day, simply having an idea, even a great idea, is not enough. You still need to do some market research, write an exclusive plan and come up with a way to offer something new to your target demographic. Nonetheless, considering a business in any of the above-listed five niches is more than enough to provide you with a head start.