The best way to select a growing industry to get involved with the ones that have the most sustainable momentum. Now keep in mind that nothing is guaranteed. After stating that, you have to stop fighting the competition and instead put yourself in a place where you can take advantage when the market open back up.
Here is some insight on the 5 most popular industries for start ups:
1. Green building. Demand is finally coming back in the construction industry, and it’s coming back green. By 2016, more than half of all commercial and institutional construction will be environmentally sustainable, energy efficient or both.
2. Corporate health and wellness. Every week I hear about another company bringing a yoga class in-house or sponsoring gym memberships for employees. The corporate health and wellness industry is expected to grow at an annual rate of almost 10% through 2016.
3. Translation services. With more than 7,000 languages spoken worldwide and more companies expanding into global markets, translation services are increasingly in demand for advertising, packaging, social media, terms of service, you name it.
4. Education software. Early education is especially ready to take off. The education software market for pre-kindergarten grew from nothing in 2010 to $14 million in 2012.
5. Digital forensics. There are businesses that specialize in retrieving information from devices and networks, and others that specialize in tracking down cyber criminals by following their digital fingerprints.
If you were going to venture into a start up, which industry do you feel would be the most successful to get involved with and why?