A new year brings new opportunities! Whether you’re a current business owner or are looking to start your path to entrepreneurship, finding an industry that’s both interesting to you and profitable is key. If you’re thinking about starting a new business venture this year, a great place to start is by browsing the top 10 businesses to buy in 2019.
Profitable Businesses to Buy in 2019
Continue reading to learn which businesses and industries are expected to grow this year and get started on finding the perfect one for you.
- Senior Care
With more than 75 million Americans born between 1946 and 1964, the baby boomer generation is getting older. Seniors want to stay in their own home, so the demand for services such as in-home salons, gardening, lawn care, transportation services, and more is increasing. Investing in the senior care industry is an excellent way to achieve success this year.
Apartment and home renters, which make up 36 percent of the US population, typically fuel the demand for self-storage. Recently, business owners are using self-storage units to store equipment and tools. Plumbers, electricians, and other service-based businesses can rent a self-storage unit at a much lower cost than a storefront. With the market expanding, the self-storage industry is expected to grow in 2019.
- Social Media Specialists
The social media world is ever-evolving and can be a challenge to keep up with. Running a business is more than a full-time job on its own, and having to navigate the social media world as well can be too much to handle for business owners. This is why more businesses are outsourcing their social media efforts to specialists. The social media industry may be the perfect business opportunity to buy into this year if you’re particularly tech-savvy.
- Smartphone Repairs
As smartphones become more advanced and expensive, it can be inconvenient and costly to have one break or not work properly. Instead of paying hundreds or even thousands of dollars on a new device, smartphone repair shops can fix common issues for a fraction of the cost.
One successful company that has perfected the art of smartphone repairs is CPR Cell Phone Repair. The franchise has locations both throughout the country and internationally, and is ranked in the top 30 businesses of Entrepreneur Magazine’s Franchise 500 List. As a pioneer in the smartphone repair industry, the network is always expanding. If you’re interested in the business, opening a CPR franchise location could be an excellent opportunity this year.
The construction of new businesses, apartment complexes, and homes creates a need for heating, ventilation, and air conditioning services. The $93 billion industry is expected to grow by 15 percent in the next seven years according to the Bureau of Labor Statistics, which is much faster than average. Capitalizing on an HVAC business may be a wise investment to start 2019.
- Pet Industry
Including pet insurance companies, veterinarian offices, pet supply stores, dog walking services, and doggy daycares, the pet industry is thriving. Most pet parents are millennials and consider their pet as part of the family. Pet parents will spend upwards of $2,000 to spoil their pets, so there’s plenty of profitable businesses to buy in 2019 in the pet service industry.
- Coffee Shops
The National Coffee Association shared that 62 percent of Americans drink coffee every day. The industry also grew 5.8 percent from 2013 to 2018 and is still on the rise. If you’re a coffee fanatic and would love to join the business, consider opening your own independent store or finding a franchise business that appeals to you.
- Delivery Services
As more consumers shop online, the need for delivery services is increasing. From food delivery services to FedEx routes, furniture delivery, and more, the industry is rapidly growing. If you’re looking for a fun, fast-paced business that is in high demand, a delivery service may be a great opportunity for you.
- Healthy Fast Food
Consumers are becoming more health-conscious about what they eat and it’s significantly changing the market. The demand for healthy fast food restaurants is high, but the supply is low. With hectic schedules and no time to cook, people are often left searching for quick and healthy options. The demand for health-conscious food is only expected to increase, so now may the perfect time to invest.
- Automotive Industry
From car dealerships to car washes and rentals, the automotive industry has plenty of opportunities. The auto industry is currently one of the top five most profitable industries in the US according to Forbes. For those who consider profitability their number one goal, investing in an auto business this year may be a wise choice.
Choosing one of these businesses to buy in 2019 may seem overwhelming, but there’s no need to stress when you enlist the help of Sunbelt Business Brokers! With locations across the country, our expert brokers can help you find the perfect business opportunity this year. Contact your nearest Sunbelt office to make your business dreams a reality.