New year, new life. This phrase is often repeated or thought about around the beginning of the year, and the business world is often involved in this kind of resolution.
Making the decision to start your own business is not a small or easy task, as most people face a huge fear of lack of profitability. Renouncing a fixed salary to make one’s way into the business ownership world, and hoping that your choice in business will eventually bear fruit…can be too much sometimes, and some just end up giving up on the idea all together.
We’d like to share some advice on which types of businesses are foreseen to generate a significant amount of profitability in 2017, for those who are seeking independence and want to start something on their own.
- E-Commerce:
For those who sell products or services, doing so online can be a major challenge, but it can provide the opportunity to lower expenses immensely for a variety of reasons.
Of course, and most straightforward is the fact that when you sell online, you don’t end up with the expense of paying for a physical location to offer your product or services – which saves you from rent payments and in many cases, having to pay a wage for someone to help manage day to day business tasks.
Having your store online allows you to have a fixed warehouse online in which you can store your products – of which are removed only when a sale is made.
This type of online business provides great growth opportunity because you advertisement can be done online and the costs of publicity online are lower when compared to the traditional forms of advertisement.
This type of business allows you to offer all kinds of products – from clothing and accessories, to machinery and furniture, or even services.
- Pet Friendly Businesses:
There is a major increase in the amount of people who are spending a significant amount of money in the care of their pets.
Pets, now more than ever, are being recognized as a member of the family in many homes, and as such, deserve care and attention that are necessary to ensure their comfort and well-being.
Therefore, thinking about a business focused on products and services for pet care, represents a cost-effective option for this 2017. Anything from clothing and accessories, to services such as grooming or small pet-friendly hotels represent an attractive business opportunity.
These kinds of products and services can also be offered and advertised online – so your audience can grow exponentially.
- Technological products:
In a world that is revolving around technological developments, thinking about how to capitalize with different kinds of technology is a wise move. Selling devices such as smartphones or tablets, drones, or any kind of computer is definitely something to consider.
This sector of business also includes the development of apps, whether as a compliment to the sale of the above of as a specialized business on its own.
A business focused on the repair of technological devices can also provide the opportunity to recover whatever investments made on business start-up and end up being extremely profitable.
We know that in order to take the leap into self-employment, most people need some sort of business financing. Here at MEXLend we offer commercial loans that can help you achieve the goal of becoming an independent business owner or grow a previously established business.
Click here to learn more about commercial credit with MEXLend.
We know to take this step. Most people need business financing, so at MEXLend we have commercial loans that can help you achieve your goal of becoming independent and starting a business of your own, or to grow your established business.
Click here to know more about commercial credits with MEXLend.
