{"id":11177,"date":"2020-01-07T14:40:59","date_gmt":"2020-01-07T12:40:59","guid":{"rendered":"https:\/\/www.become.co\/blog\/?p=11177"},"modified":"2021-10-27T09:56:52","modified_gmt":"2021-10-27T06:56:52","slug":"future-business-ideas","status":"publish","type":"post","link":"https:\/\/www.become.co\/blog\/future-business-ideas\/","title":{"rendered":"10 Future Businesses Ideas for 2021"},"content":{"rendered":"\n

What is a future business idea?<\/span><\/h2>\n

Times are a\u2019changing. What may have been a great business idea last decade may not necessarily be one of the best <\/span>businesses to start in 2021<\/b>.<\/span><\/p>\n

Ten years ago many of the hottest <\/span>new business ideas<\/b> for 2021 may not have even existed! For example Instagram was just in its infancy, but now it\u2019s a social media marketing<\/a> and business goldmine.<\/span><\/p>\n

We predict that the next decade will be all about technology – the Internet of Things (IoT), wearables, virtual reality, 3D printing to name a few. But there\u2019s good news too for those of us who aren\u2019t that technologically savvy – there\u2019s always a market for traditional business ideas, as long as you cater to your target market\u2019s needs.<\/span><\/p>\n

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Who are the next decade\u2019s top spenders?<\/span><\/h3>\n

Baby Boomers and Gen Xers are aging while Millennials are on the cusp of their spending peak (<\/span>CB Insights<\/span><\/a>). The growing influence of the Millennial generation is starting to impact which will be the top industries of the next decade. Furthermore, Gen Z are growing up and reaching a point of having more significant spending power.<\/span><\/p>\n

The key for business success in the next decade is to cater to the wants and whims of these two powerful generations: Millennials and Gen Zers.<\/span><\/p>\n\n

Best Traditional Business Ideas for 2021<\/span><\/h2>\n\n

1. Fitness center<\/span><\/h3>\n

Gone are the days of the gym chains dominating the fitness industry, so us little guys have a chance of starting a fitness business in 2021. Millennials have proven to prefer boutique fitness studios over large, impersonal gyms – and aren\u2019t afraid to spend money for such a sense of community and personalization.\u00a0 According to a <\/span>CB Insights<\/span> study, 76% of Millennials exercise at least once a week, and collectively spend almost $7 billion per year on gym memberships (Gen Xers and Baby Boomers spend half<\/strong> of that).<\/span><\/p>\n

You can start out small, offering classes in your area of expertise such as yoga, boxing, pilates or more. Once you start expanding, you could get an <\/span>equipment loan<\/span><\/a> or an <\/span>unsecured business loan<\/span><\/a> to help you grow into a fully-equipped boutique fitness center.

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2. Food truck<\/span><\/h3>\n

The foodie trend for this decade is fast, casual, healthy food. Almost 40% of Millennials <\/span>(<\/span>CB Insights<\/span>) eat takeout food and, in line with their fit lifestyles, generally prefer healthy options. <\/span><\/p>\n

A food truck with healthy menu options gives Millennials the convenience, ambience and nutrition they crave. You could even cater to a niche market by offering, for example, vegan food or specialty dishes. If you decide you want to grow your business, you could always apply for a <\/span>commercial vehicle loan<\/span><\/a>, purchase a few more food trucks, and expand to various prime locations.<\/span><\/p>\n\n

3. Micro-mobility services<\/span><\/h3>\n

Millennials are 21% more likely than Gen Xers to purchase homes in city centers. This growing trend towards urban living has birthed one of the most popular transportation options today – electric scooters.<\/span><\/p>\n

Even if you can\u2019t (understandably) afford to compete with the likes of Bird and Lime, don\u2019t be discouraged. You don\u2019t have to have your own line of electric scooters to get into the micro-mobility industry! Think of the bigger picture – accessories, branding of scooters, and scooter services.<\/span><\/p>\n

If you have a knack for enterprising you could offer a full service solution including recovery and collection of scooters, charging them, maintaining them, and redeploying them to prime locations during the course of the day. If you\u2019re willing to work at unusual times of the day, have basic handyman skills, and prefer not to sit in an office all day, this could be one of the <\/span>best business ideas for 2021\u00a0for you.<\/span><\/p>\n

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Best Online Business Ideas for 2021:<\/span><\/h2>\n

The world is moving more and more online so it\u2019s no surprise that some of the best future business ideas are web-based:

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4. Instagram consulting<\/span><\/h3>\n

Even those who use Instagram in their personal life – posting photos, tagging friends, sharing stories – probably don\u2019t know the quirks and nuances of managing a business Instagram account and turning it into a successful marketing platform.<\/span><\/p>\n

Simply by learning a few tricks of the trade online, you could start an Instagram consulting business in 2021 and help clients grow and manage their accounts. Master the art of hashtags, influencers, product and geographic tagging and you could become a pro in no time.<\/span><\/p>\n\n

5. Affiliate marketing<\/span><\/h3>\n

Affiliate marketing may not be a new concept but it\u2019s one of our top business ideas 2021 because it\u2019s tried-and-tested and, if you do it right, can bring you lots of success in the next decade. Starting an affiliate marketing business involves the following steps:<\/span><\/p>\n