Are you interested in owning your own business? Imagine being able to make a high income off of your hard work and investments. Live a life that isn’t dictated by a boss, manager, or salary; but by the hours and effort that you’ve poured into it. Create your own schedule and set up your day the way you want it to be. Have the freedom and the choice to take a day off or go on vacation whenever you please.
BUT…
What good would this freedom bring if the bills weren’t getting paid? What if you were free to do as you see fit with your time, and yet unable to enjoy that time due to debt and financial struggles? What is the point of choosing when you want to take a vacation if you can not afford to go where you want?
The point of this article is to help you make a crucial decision for your future and to answer a burning question inside any mind that chose to click on this article:
What kind of business should I start?
Here is a list ranking the top six industries to start a business in if you want to make a six-figure income.
6. Food Gathering
Average Income: $50000–59999
Average Age: 49
Believe it or not, there is a lot of money to be made in agriculture, fishing, forestry, and hunting. New, trendy foods are dominating the market as far as what’s hot and what’s not. Here are some ideas to help get the juices flowing if you’re thinking of starting a business in one of these industries:
- Growing Organic Kale and Quinoa could be an incredible opportunity in catching a plant-based health trend that shows no signs of slowing down in the future.
https://www.huffingtonpost.com/elwood-d-watson/younger-consumers-are-tre_b_6632166.html
- Fishing Salmon and Tuna are coming back due to the increasing number of sushi and poke restaurants popping up. Also, grocery store sushi is a now-booming market that lends to the power of this trend.
http://fortune.com/2015/08/23/grocery-store-sushi/
5. Financial Activities
Average Income: $60000–74999
Average Age: 48
This industry isn’t just for those trying to become the next Wolf of Wall Street. This is a golden opportunity to help larger businesses organize and maintain their accounts, investments, and buying and selling assets. The biggest, most reliable bet to make it in this industry is still on Wall Street, but for those who are uninterested in the Street, here are some ideas for business opportunities you can take elsewhere:
- Hedge funds are making it in a big way. If you have a mind for numbers and an eye for trends, starting a micro-fund could be an incredibly profitable option for you.
https://www.cnbc.com/id/39342454
- Crypto-currency is on a warpath throughout the global economy. Hopping on this trend and helping other businesses take advantage of it through consulting could help rake in some bitcoin while enjoying the skyrocketing value.
4. Educational and Health Services
Average Income: $60000–74999
Average Age: 47
College debt sucks. So do Healthcare expenses Still, no matter how bad these two things are, they aren’t the only things that are fundamentally broken in the health and education industries. Here’s some ways that you can cash in on the mess:
- College textbook prices can be overwhelming for many. The prices add undesirable stress to a college student’s finances. What if a business existed that allowed students to trade books with one another for a small membership fee rather than having them try to resell the books for pennies on the dollar?
- By blending Health and Financial services, you could innovate in extremely old and slow industries. Areas such as life and health insurance haven’t seen much change historically. Creatively bringing value in these industries could be extremely beneficial for both your business and your customers.
3. Wholesale and Retail Trade
Average Income: $50000–59999
Average Age: 48
Simple. Time-tested. Duplicatable. Everywhere you go, you can find a recognizable retail brand. It’s no wonder this industry is in the top 3 of this list. For those that want some insight into how to take advantage of opportunities within this space, here you go:
- Gadgets are hot right now. Fidget spinners, fancy coins, knives, pens, you name it. tapping into the gadgets and accessories trend could prove to be a very nifty niche.
- This one is kind of tricky, but starting a clothing brand and positioning it to be the next hype-beast movement would be perfect for a brand looking to grow exponentially. Look to Supreme, Bathing Ape, and Yeezy for inspiration. Building a brand that gets the attention of these examples yields incredible results for the few businesses that make it that far.
2. Construction
Average Income: $50000–59999
Average Age: 47
There’s a chance you had a discriminatory thought when you read what number 2 is, and that’s fine. The industry can definitely promote and unappealing image, but remember, these are business opportunities; not jobs. Here’s a few ideas to get you thinking down the right path:
- With minimalism on the rise, less people wanting to be tied to one location, and an increasing number of low-income families looking for a place to live, tiny houses are an excellent opportunity to capitalize on the growing needs of these populations.
- Construction zones aren’t exactly the safest environment. Adding a touch of innovation to the old hard hat and safety jacket combination could be a very profitable method to improve safety and protection for the workers employed in these lines of work.
1. Professional and Business Services
Average Income: $60000–74999
Average Age: 48
Ok… This one is kind of cheating given how wide the range of services that fall under this category are. Still, having a business that caters to the general wants and needs of other businesses is an extremely reliable way to start down an entrepreneurial path while earning a handsome income in the process. There are so many needs for businesses and so many different businesses out there that are in need. Referring back to the laws of supply and demand, this is an excellent space to occupy in the market. Here are some trending areas where you could fit in:
- Are you adept in a certain area? Do you have years of experience in a given field? Consider using this deep domain expertise to your advantage and start a consulting business in your particular niche.
- Social Networks are taking over the and influencing our consumption of media. Businesses of all sizes will need help combatting this new wave of behavior across all of the different platforms associated with it. Starting a business that manages social media accounts and social media marketing for other businesses is a very in-demand service in today’s world.
Does any single business industry reign supreme? The answer is no. There are millions of needs spread across millions of businesses. This list is not to promote a certain industry, but rather to give you, the reader, a few ideas of where you may want to explore for a potential business venture. There is plenty of money to be made, regardless of the industry you choose and hopefully with the ideas in this article, you can join the high-income entrepreneurs out there and live the life that may not be possible in your current line of work.
If you are looking for some additional resources for more insight on top business trends and ideas, try these!
20 Amazing Startup Business Ideas That’ll Make You Money
https://www.oberlo.com/blog/business-ideas-that-make-money
50 business ideas you can launch for cheap (or even free)
http://mashable.com/2017/07/11/business-ideas-you-can-launch-for-cheap-or-free/#cxKnwazWBkq4
