Editor’s note: This article was first published in September 2011. The whole piece is a forecast, and predictions such as organic farming becoming fashionable “before 2015” and robots handling domestic service “by 2016” have now passed and should be read as of 2011.
Time to review what, judging by market trends, will be the most profitable businesses. Readers who have been following us from the start will already have an idea of where the market and consumer habits are heading.
We should say that while society pursues progress, many of tomorrow’s business trends point to the past, because sometimes the best innovation is to offer something that is no longer sold. Let’s begin:
Technology
We live in a clearly technological era, in which any company able to carve out a niche in any specialty within this sector will be geared toward survival, at least in the medium term, even though for now we can’t predict where this new technological era is heading. Some say we are at 20% of the growth that is possible. Some of the businesses emerging around technology are:
- Virtual assistant companies.
- Web application development.
- Mobile app development.
- Digital advertising companies.
- Building specialized platforms.
- Selling all kinds of products online.
- And many more…
Comfort and security at home
Home automation is in full development, and even before the crisis began, the latest advances were being built into new homes. Anything that gives us greater well-being at home will be in demand. Nor can we ignore the growing demand for security in our homes.
Security of every kind to protect us from any outside intrusion, especially at a time when crime has risen considerably.
- Alarm systems.
- Private security companies.
- Companies specializing in extreme security measures, such as building panic rooms (a service whose demand has grown by 18% during this recession).
Consulting
Consulting is now more vital than ever. We live in a globalized world, where companies need to enter different markets with the knowledge of professionals who can help them understand the legal basics, cross-border taxes and everything related to importing and exporting.
Lawyers specializing in internet law
Until now, people have tended to think anything goes on the internet. Many will realize how wrong that is right after being sued for one reason or another. Trademark rights, image rights and copyright will account for most corporate lawsuits over the coming years.
These lawyers, along with one of the ideas we’ve already covered, the virtual lawyer, will be in strong demand from companies, and in many cases companies’ own legal departments will look to bring a lawyer specializing in all kinds of “online law” onto their staff.
Longevity and beauty
We don’t just want to live longer; we want to reach retirement in good shape, so demand for products and services that improve our quality of life keeps gaining importance. As we’ve discussed in previous articles, Eastern therapies, specialized sports centers (gyms) and all kinds of more natural food have kept growing in our country (and practically all over the world).
That brings us to the new market trend: when it comes to food, a large part of the population thinks it would be better to go back to the past and eat more natural products, even if it means paying a little more.
Organic products
By organic products we don’t only mean those that are more natural and healthy, but also those that use few natural resources and don’t pollute the environment. Organic farming will come back into fashion before 2015, as people are increasingly aware that they are being poisoned with chemicals, leading to a rise in disease.
An organic product is anything that comes from a natural process using no artificial fertilizers, pesticides or antibiotics. Organic livestock may not be tied up or crowded together, and must graze freely, feeding on grass and natural feed. The problem entrepreneurs in this sector face right now is that the feeding process is more expensive and they don’t receive enough government support, so these products sometimes reach the end consumer at too high a price.
Beauty and health
If we look at which franchises are the most profitable today, they are the ones focused on beauty and personal care, with the advantage that they are no longer aimed only at women, since men are increasingly willing to consume this “product”. The “metrosexual” type is on the rise. These days, men feel the need for care similar to women’s: body hair removal, eyebrows, cosmetic surgery and so on.
Renewable energy and hybrid vehicles
Sooner or later they will make their triumphant entrance, because the world needs a solution to the consumption of natural resources and the price we pay for them. Hybrid vehicles are already advancing, and major manufacturers are adapting their most luxurious models to hybrid technology.
In the same way, the future of construction will be green, because these companies not only have the support of the general public but also the aid the state grants them as socially responsible companies.
Robotics
Some claim that by 2016, domestic service and customer service in some establishments could be handled by robots. After all, they already answer our phone calls, and sometimes they don’t do too badly.
Alongside robotics we include biotechnology and cybernetics, which make up one of the most lucrative businesses of the future, because the cyborg is already a reality. Cyber-technology already moves more than $100 billion worldwide.
Further reading
- The degrees with the fewest job prospects
- The degrees with the brightest future
- The 10 jobs of the future
See also: Nanotechnology: from science fiction to a profitable business today and tomorrow
Featured image: PanierAvide, CC BY 4.0, via Wikimedia Commons.
