Profitable Industries for Entrepreneurs to Start a Business

Entrepreneurs looking to start a business in today’s world will want to have a few things in mind when conceiving an idea. The number one thing is to know what industries are booming right now, and why these specific industries are doing as well as they are. The industries covered below are all host to a number of brands and companies that are taking unique approaches to the way their products are manufactured, distributed, marketed and sold. Let’s take a look at a few examples of industries that are booming for these unique approaches.

The Apparel Industry

The apparel industry is making big ground today by providing the most unique and high quality options ever available to consumers. And most of it, you’ll find online. Companies dedicated to providing new kinds of products and higher quality designs are enjoying big successes in their industry.

Big name department stores and brands are struggling to keep up with businesses taking advantage of virtual marketplaces which allow for a more honest relationship between customers and suppliers. The jewelry industry in particular can be tricky to navigate in terms of authenticity and brands like 6 Ice are reinventing the transparency of urban fashion and streetwear makers by providing detailed information about each handcrafted item. Artistry and quality are increasingly important for the modern consumer, especially when it comes to apparel.

With that being said, many exciting brands are reinventing the way products are manufactured and with greater inclusivity in mind. Clothing designers are beginning to take the hint that clothes need to be made for all bodies and people in mind. There are a ton of brands that are building their clothes using actual bodies rather than mannequins, such as Easy Standard. The push to provide a wider size variety of inclusively designed clothing means that more people will be able to access and enjoy high quality pieces. Another great brand making amazing pieces for a variety of bodies is Los Angeles company Big Bud Press. They’re high quality and hand designed pieces are hugely popular and each of their sizes accommodates a wide range of body types.

Food and Beverage Services

It’s no secret that the beverage industry, especially the alcoholic beverage industry, has skyrocketed in sales over the last several years. In part because so many independent brands, brewers and mixologists have taken the stage in the direct to consumer market through virtual marketplace solutions, many independent brands are creating new and exciting ways to create new beverages. OLIPOP is a great example of a natural and healthy soda that consumers are going wild for. These kinds of companies are making a big name for themselves because of their commitment to using organic ingredients and inspiring joy in their customers.

These brands continue to thrive because they retain control over the majority of their marketing, delivery and advertising. TapRm is a popular new service in New York that acts as the retailer, marketer, wholesaler and distributor for all of the unique beers and seltzers they represent. This kind of control of product distribution is a first in the beverage industry, and surely many brands are already thinking about how they can do similar things for their beers, seltzers and nature inspired refreshments.

Health and Wellness

Possibly one of the most lucrative industries around today, health and wellness is at the forefront of everyone’s minds these days. Unfortunately, the health and wellness industry has gained a reputation for lacking transparency, oversight and proper research into the ingredients that make up their various products. This is starting to change as more brands conceived by frustrated consumers start to take hold of the market. Nesa’s Hemp is a great example of a CBD extract brand whose living plant formula has been gaining immense popularity among consumers. CBD’s potential is huge for treating chronic pain, anxiety and depression, but so many companies are using out of date extraction methods and creating synthetic products that don’t really work and don’t use all of the healing compounds available in the hemp plant.

Similar to the CBD and wellness industry, the supplement industry is a huge profit machine that has largely leaned on lack of transparency to sell their products. UNICO NUTRITION is a supplement company that is a departure from deceptive marketing, dangerous formulas and a lack of oversight and creativity that has been at the forefront of this industry since its inception. Their ingredients are tested for safety and researched thoroughly to ensure our consumers are getting the highest quality supplements and work out powders available. These are just a few of the many examples of companies that are working against the things that have made their industries toxic for consumers. Another great example is the company Curology, who have been working to combat skin care issues with simple, clean formulations that are designed specifically for each customer’s skin type and issues.

Transportation Services

The transportation industry is another area where brands are redefining how consumers access services like car rentals and car purchasing. Driveway is a new online retailer that consumers are loving for the amount of control and transparency that comes with using their service. What’s unique about this company is that they actually own their entire product line, which means you won’t be dealing with shady dealerships trying to make commission off of your sale.

For rentals, part shortages and manufacturing delays due to the COVID-19 pandemic have made renting cars more difficult in the last several years. These services have responded similarly to other brands by becoming more hands on with their customers and offering direct to consumer services. Advantage is the best online rental service available, allowing you to reserve online and pickup in convenient locations. Soon, you’ll be able to purchase vehicles through advantage as well.

Startups and New Technologies

Startups and new technologies have made way for tons of innovative companies to create tools that make life’s experiences more engaging and meaningful to us. From health management to innovative learning tools, the tech market is becoming a place where people can find healthy tools that support active engagement with their lives. Expectful is a great example of a new health startup for soon to be or current parents to help them through their journey as parents. They have an enormous library of meditation content for pregnancy, parenthood and fertility.

Technology has paved the way for a number of amazing tools to help us move through life a little bit easier and help us feel more connected and confident about ourselves and our relationships. Jae Pak MD Medical is doing this work by offering the best hair replacement surgery in Los Angeles. Their state of the art transplant technology has attracted visitors from all around the world to help them feel more confident and more like themselves.

There are many tools out there to help us with our mental and physical health, but technology can also help us engage with the world around us. HearHere is a new app that hosts stories and audio content about specific topics in specific locations. This tool is perfect for those who enjoy traveling, road trips and learning about new cultures, places and people through the art of storytelling.

All of these industries have one thing in common: their products and services are designed to serve the customer rather than the business. It might seem counterintuitive, but the more you can commit your business to creating something that not only helps customers but takes their experience in mind, you’ll make a bigger impact for yourself and the future of your business.