Here are ten different categories of business ideas that you can safely bet on for the future.
1. Environmental. Any business with a positive affect on the Environment. Solar energy, recycle, alternate power etc.
2. Debt Advice. With the ever growing awareness of people in debt, any sort of financial counselling, education or debt regulation will do very well over the next 5 years. Just make sure you can still get paid for this, as most of your clients will be broke.
3. Convenience. Any product or service that adds a form of convenience to the lives of the hard working and lazy has a huge developing market. Services such as ready made home cooked suppers, laundry services, garden services, walk the dog, pay your bills, wash your car. You get the drift.
4. Services for the Aged. There is a huge sector of the population that is getting older and not dieing. Any services that are focused at looking after these people will blossom. Again look at costs and service ability. These could be a simple bus service to the shops. Outings to places of interest. Entertainment activities. Sporting packages. Skydiving – only kidding.
5. Cellular Communication. Any add-on product or service that moves with the times of the huge cellular market will do well. We have seen many new products come out recently that adds convenience and ease of use. Moneyless transaction, online chat, booking services, status enquiries etc.
6. Home Entertainment. We are spending more time at home in the evening, give us things to do. Wii, movies, Pizza, dress up, dress down…
7. Online Shopping. I think that SA is on the brink of the online shopping revolution that other countries have come to see. As confidence grows with online banking transactions the 2.4 million users in SA will begin to shop.
8. Beauty and Body Care. Lipstick, gym, personal training, loose fat, look good, feel sexy. Any product that does that for me, I’m buying.
9. African Development. The doors are opening into Africa. (Except Zim.) A lot of our large retailers have paved the road up north. Small business needs to follow and claim the markets.
10. Low Life Expectancy. The flip side to #4. We are also seeing a huge death rate due to HIV, TB and maybe next year N1H4. Any services linked to death will be booming. Undertakes, coffin makers, funeral policies and related services.
Thanks to Eric Parker for some of this input.