Many people are always looking for ways to start up their own businesses. Everyone seems to have a dream of someday working for themselves, sharing what they love and their talents with the world. However, if the area that you want to work is stagnant or even shrinking, it might not be the wisest idea.
The better idea is to try and make your mark in one of the many growing industries in this relatively new decade. With that in mind, here are three growth industries that you can launch your startup in.
1. Electronics repair
As the world evolves, so does the world of electronics. The electronics sector is a constantly growing and adapting field of work. This is an ideal place to start a business. With specialist search engines and websites such as Octopart at your disposal, finding electronics components can be easy.
Businesses that you could startup in this sector include:
- Mobile phone and tablet repairs. Starting locally, you can provide a far faster turn around to that of a specialist phone store where your phone can be held for weeks.
- Computer and desktop repairs. Similar to that of a phone and tablet, but you will be able to offer upgrade services of hardware for desktops if need be.
- Tech DIY crafts. You can sell on little crafts you have made and give lessons on how to make them.
2. Cloud Platforms
Due to the sudden reliance on cloud systems and mass data storing facilities over the internet, the industry has already reached the point where demand could outstrip the supply of services. Consequently, this is a great place to start building your data storage business.
This kind of work can be started remotely, so unlike tech repair, you aren’t limited to local trade. Selling storage to businesses can be a low-cost startup, yet it can earn you a lot of money if you do it successfully.
3. eCommerce store
eCommerce is growing at an exponential rate. Selling items on platforms such as Amazon or eBay has become a massive way of trading over the past few years, even more so due to the pandemic. This can be an excellent starting point to any business or store and can be a great way to earn money as either a side gig or even a full-time job.
For this reason, the range of items you can sell is virtually limitless. They can be bespoke individual items you make yourself, items you buy from a wholesaler or import from abroad. The practice of white labeling goods means you can source genetic goods and have them packaged to your specification to build your brand.
The platform you choose to sell them on will vary according to the type of goods you are specializing in, with more general goods on Amazon or eBay, and more ‘craft’ or ‘homemade items‘ working better on eBay or Etsy. Of course, your own website based on a Shopify template is also a viable alternative.