6 Most Popular New Businesses for Entrepreneurs

hands covering dollar

Are you feeling entrepreneurial? If so, you’re not the only one! Each month, 0.34% of the American population starts a new business.

But what types of businesses are Americans starting in 2015? Here are the six most popular types of startups in the current economy:

Home Healthcare

Entering the home healthcare industry may be the safest bet that an aspiring entrepreneur can make at this point in time. At the moment, there is a huge demand for at-home healthcare givers, and with the baby boomers looming on retirement age, demand should skyrocket. It is also worth keeping in mind that the baby boomers are the wealthiest generation in the history of the United States, and will be willing to pay a pretty penny for quality healthcare as they become elderly.

Corporate Wellness

Enterprises value a corporate wellness service that can provide them with a cheaper, easier alternative to traditional healthcare packages. Corporate Wellness businesses are contracted by other companies that are looking to introduce their staff to healthy lifestyle choices. Starting a corporate wellness company is rather simple, as Forbes reports that there are few barriers to entry. The industry has been the go-to move for many entrepreneurs since 2011, but the economy is still amenable to new entries.

Street Vendors

Yes, the food truck industry is actually doing very well. Forbes reports that the industry will be worth over $1.7 billion in five years, and it is a simple industry to start up. If you live in a city and you find a niche type of cuisine to serve, you will be amazed at how profitable being a street vendor can be.

Ethnic Supermarkets & Restaurants

There is an increasingly strong immigrant population in the United States, and you can make big money by starting a supermarket that brings their hometown foods to America. Particularly popular in Hispanic and Asian communities, Forbes has this as their seventh hottest startup for 2015-16.

Personal Improvement

People will pay a lot of money to look good. Take advantage—yoga and Pilates instructors, dieticians, and personal trainers are finding work easily in the modern economy. With a significant portion of the population overweight, the demand for personal improvement experts is not going anywhere.

Economic Advisor

MSNBC ranks this the fourth hottest industry to get into this year. Whether you are a consultant for businesses that need a better financial strategy or you are helping to manage the wealth/assets of baby boomers that are on the cusp of retirement, many have a need for an economic advisor.

What next?

Have you started your business but are having trouble with your cash flow? Let Factor Finders give you a hand—we can set you up with the perfect invoice factoring program for you. Give us a call and ask how alternative lending can help your small business, increase your cash flow, and avoid taking out bank loans.