7 Niche Industries That Are Booming Right Now.
March 5, 2021 by Staff
Filed under Education, Tech/Internet, Weekly Columns
(Akiit.com) Starting a business in a niche industry can have its advantages. While niches may appeal to less customers, there can be less competition making it easier to stand out.
Certain niche industries have been notably successful in recent years. These could be perfect for anyone looking to launch a profitable startup. Below are just 7 of the most successful niches right now.
Online courses
Many people looking to further their knowledge and skills are realising that they can now take courses from home on the internet. This includes courses in everything from personal training to dog grooming. Consequently, online courses have become very profitable.
The great thing about creating a course is that it can be somewhat of a passive income. A digital course could consist mainly of text and video – once you’ve created it, students can pay to sign up to it and you barely have to get involved. Creating a successful course requires you to be an expert in your field and it could pay to obtain a few qualifications of your own to show that you are credible. Constant marketing is also needed to help attract new people to your course and you may want to update your course every couple years to keep information relevant.
Cannabis/CBD
Cannabis has been legalized recently in many places around the world. In other locations, CBD – an extract of cannabis that doesn’t contain the high – has also been made legal. Cannabis and CBD have become very popular for their various medical benefits which include pain relief, anxiety relief, improved sleep quality and even acne treatment. Now could be a good time to get in on the buzz.
Creating a CBD product could be a good way of entering the industry. Using a gummy making machine, you could create your own CBD gummy sweets. Alternatively, you could look into producing CBD-infused vape liquids (another popular niche right now). You could even create a CBD-infused cooking sauce. A course in CBD or manufacturing could be useful. There are many different ways to incorporate CBD into products, here are some examples from Joy Organics.
Solar energy
As the world moves away from using fossil fuels for energy, other energy sources are starting to become more popular. One such energy source is solar energy. On top of being green, solar energy can often save money for homeowners and businesses. Once installed, solar panels can generate energy from the sun without having to pay bills to a provider. Demand for solar panels has been growing dramatically in the last few years, making the potential for growth huge.
Solar panel installation could be a great trade to get into – especially if you have a background in roofing or electrics. You’ll need to take a course in solar panel installation and find a good supplier of solar panels. Once this is achieved, you can then start marketing your services and getting business.
Business cybersecurity
The world has become increasingly more digital in the last couple decades and as a result cybercrime has become more common. Small businesses are the most popular targets of cybercrime. This has led to a big demand for commercial cybersecurity services.
If you have a background in IT or security, this could be a great niche to get into. You could offer a managed IT service, which involves constant security monitoring. Alternatively, you could simply offer a consultancy service that helps provide businesses with the knowledge they need to improve their cybersecurity. Certain qualifications and licenses may be needed to get into this industry, which could be worth looking into.
Eco-friendly products
Disposable plastics are now going out of fashion in favour of eco-friendly alternatives. Now could be a good time to start an eco-friendly product line.
This could include bamboo toothbrushes, refillable lighters, recycled tissue or compostable bin-liners. You could even look into producing eco-friendly packaging for other companies’ products.
Home gym equipment
Lockdown has forced many former gym-goers to work out from home. Many people have been realising the money they can save from exercising at home and there has hence been a huge boom in home gym equipment.
For those that have an interest in product design and fitness, this could be a great niche to break into. Creating a unique fitness product isn’t easy as there is a lot out there, however the fitness industry is very open to new products – more so than many other industries. Get creative when promoting your products (videos and social media are a great tool for this) and you could make a lot of money.
Meal subscription plans
Meal subscription plans have also become popular over the lockdown period, reducing the need to go shopping. These include both pre-cooked meals and meal kits. This is an industry that was already gaining traction before coronavirus and it seems likely to continue booming now that many people have discovered the convenience of it.
If you’re into cooking or nutrition, a meal plan startup could be a good venture to look into. Work out exactly who your target demographic is so that you can cater a meal plan to their tastes. You can then start prompting it online through the likes of social media and SEO.
Staff Writer; Paul Brown