Are you wondering what the most profitable businesses are right now? If you want to start a business, understanding consumer demand is a critical part of success.
Twenty percent of small businesses fail in their first year. But don’t let that scare you off because many do succeed. All it takes is hard work and the right business strategy.
Make sure you’re on the right track by looking for industries that have positive future job outlooks. Not sure where to start? Check out our list of the most profitable and fastest growing industries in 2019.
Beauty
The beauty field has many job opportunities perfect for people with a creative side. Popular jobs include hairstylist, nail technician, esthetician, makeup artist, barber, and massage therapist.
No matter the economic situation, people always strive to improve their appearance. This may be the best industry to start a business if you love people and you’re very personable. Plus, many stylists have regular clients, meaning there’s good job security in this field.
Self Development
Self-development is also known as personal development or self-help. It consists of activities and advice that help a person improve their character or abilities. Self-help is huge right now and one of the fastest growing industries to start a business.
You may have heard of or even read some of the popular self-help books that made it to the New York Times Best Seller List.
But being an author isn’t the only job in the self-development field. Other opportunities include being a life coach or a motivational speaker. Many self-help programs or products are even sold online.
The key to being successful in this field is holding people accountable and checking in regularly.
Digital Marketing
Companies of all sizes need a reliable marketing team. And 40 percent of marketing jobs require you to have digital experience.
The digital age has transformed businesses in all fields. This means that more jobs will require digital skills in the future.
Digital marketers deal with analytics, email marketing, SEO, social media, and more. Because the demand for these skills is so high, digital marketing is one of the fastest growing industries on this list.
Online Dating
Life is hectic and many people find themselves too busy with work and responsibilities to go out and date. Thankfully, DoULike.com has made online dating easier than ever. Not only can you meet matches from across the world, but you can talk to them whenever you want.
Online dating is arguably the best industry to start a business because there will always be a demand for it. You simply can’t beat the convenience of using your phone or computer to meet singles.
Real Estate
There will always be a demand for housing, making the real estate market one of the many growing industries perfect for new entrepreneurs.
In fact, the job outlook for real estate is expected to rise by 7 percent by 2028, making it one of the best industries to start a business. If you want to get started in this business, there is no better time than now.
Sub-sectors in the real estate industry include real estate technology, online brokerages, and online design services.
Energy
Starting a business in the energy field is a good call because of the increase in demand as the population grows. Renewable energy and sustainable energy methods are gaining popularity right now. And many people are calling for more eco-friendly options.
Many claim sustainable energy is the future which makes it a very popular and profitable sector. But we may not be ready to make the switch to clean energy yet, making other sectors viable as well. Other sub-sectors in energy include oil and gas, mining, and fracking.
App Development
You can’t go wrong with a job in the technology industry. App development is one of the best up and coming industries to consider if you want to start a successful business.
Similar to digital marketing, companies of all sizes require a functioning app for their business. After all, mobile shopping is on the rise and many people use their phone or tablet more than their computer.
App development is a billion-dollar industry with high demand in the job market. The average salary of an app developer in the U.S. is $107,000 per year.
Ready to Start Your Own Business?
Starting a business is hard work and requires a lot of long hours. The most profitable businesses understand consumer demand and follow trends to stay relevant.
If you want to attain success and make your business work, you can’t go wrong picking one of the industries on this list. These sectors are in high demand with a positive job outlook.
Of course, making your business work is more than picking the right industry. It also takes innovation, creativity, and a solid business plan. But your business is more likely to succeed if you choose the right field and have a passion for your work.
