After a year like 2020, you might feel hesitant to predict anything for 2021. Statistics and trends are here to give you confidence in your future financial success. These five niche business ideas will dominate 2021 given how well they’ve done in the last twelve months.
Whether you want to start an online business or add new features to an existing company, there are always ways to build on your success. Use these ideas to target growing audiences and make more significant profits no matter what the future holds.
1. Create Virtual Educational Courses
The COVID-19 pandemic closed schools off and on, making virtual classes more reliable than ever. Parents don’t want their children held back by gaps in their education. Places like Epic Charter Schools in Oklahoma reached a high of enrolling over 1,000 students per day, so other education-focused businesses can get on board with this trend.
Creating virtual courses appeals to students in grade school and anyone earning a higher-education degree. They’re flexible and accessible from home. They usually come with a price tag cheaper than private or in-person classes too. Classes regarding specialized subjects should do just as well as standard courses because more people are open to home-based learning.
2. Sell Vintage Clothes
Opening a shop and selling vintage clothes could make more money than partnering with major retailers. The resale industry will likely make a $64 billion profit over the next five years. It will take over both the thrift and donation clothing markets, so spread the word about your new resale business and people will stop by to fit in with the latest throwback trends.
3. Provide Holistic Health Treatments
People who want to go green or ditch traditional ingredients now expect more from the holistic health and beauty world. It’s fostered incredible industry growth online because everyone wants to look up what they can do to improve their wellbeing.
New businesses might highlight hydration via IV therapy so clients get the vitamins and nutrients they need. You could also jump into the world of essential oil fragrances as an aromatherapy treatment for anxiety or stress. You’ll build trust with your clients as they improve their daily lives and learn about their bodies with holistic therapies.
4. Offer Smart Home Products
Smart technology was already popular, but smart home products saw a boom in market value as more people began staying home in 2020. Virtual jobs and schools will allow people to continue this new lifestyle, so smart products can make their lives easier. Businesses that sell things like energy-saving outlets or app-based security systems have substantial potential waiting for them.
5. Retail Traditional Toys
People joke about kids preferring apps and TV to traditional toys, but research shows that isn’t true. The National Purchase Diary Panel Inc. (NPD) found that the U.S. experienced a 16% growth surge in 2020 toy sales, which they expect to increase over the next twelve months. Become the next locally-owned toy store in town and you’ll find a profiting market with little competition.
Consider Your Future
These five niche business ideas will dominate 2021, so consider what you want for your future. See if any of these sectors interest you. You could enjoy a thriving career in holistic treatments or online courses. Match your next business venture with one of these ideas and you’ll fly past the minimal competition.