The Best Business Opportunities of 2010

Many of the best business opportunities of 2010 are green as green is where the money is this year. From green technologies to food produced in more environmentally friendly ways, consumers are translating their environmental concerns into action with their wallets. Seniors are another increasing market rife with business opportunities; you'll find several suggestions for meeting their needs on this list.

What else? Read on. (Note that these business opportunities are presented in no particular order.)

The Best Business Opportunities of 2010

1) Green Construction

Consumers, increasingly concerned about environmental impacts, are demanding greener construction practices. Whether they're purchasing a new home or upgrading an old one, they want a building that not only looks good but meets current environmental standards. Homes that meet ratings standards such as LEED, BuiltGreen, and R-2000 are going to be in ever increasing demand. Green materials, green techniques, and green certifications are going to be the keys to success in construction this year.

2) Green Technologies

Business opportunities abound for green ideas. Whether you believe in the seriousness of climate change or not, one thing is certain; the furore has released the government purse strings for green technology projects. Both loans and grants are available to fund projects that attempt to solve environmental challenges. For instance, in Canada, the Sustainable Development Technology Fund provides up to 50% of the costs involved in developing and testing your new technology that "that deals with climate change issues, clean air, clean water or soil quality".

3) Dollar/Discount Stores

In 2010, everyone will continue to say that the economy is getting better. Consumers generally, however, will continue to be more frugal than they used to be and look for bargains, making dollar store and discount store franchises solid business opportunities. Buck or Two and the Great Canadian Dollar Store are just two discount store franchises you may want to investigate. Wondering whether or not buying a franchise is the right business opportunity for you? Should You Buy a Franchise? lays out the advantages and disadvantages to help you decide.

4) Senior Care

Senior care makes my best business opportunities list once again because of ever-growing demand. Business opportunities in senior care range from opening your own senior care home through providing in-home care or home services such as preparing meals, housekeeping or running errands. Senior care franchises are another option for getting in on this business opportunity.

5) Senior Renovations

Home renovations have long been a booming business opportunity to the extent that anyone who can pick up a hammer has tried to muscle their way into the market. How do you distinguish yourself from all the renovation wannabes? Focus on a niche market. Seniors needing renovations to make their lives easier and stay in their own homes longer is a niche waiting to be colonized. Ramps and specialized bath fittings are just the beginning.

Continue on to the next page to read about five more of the best business opportunities for 2010.

6) Heating and Cooling Products and Services

Heating and cooling products and services are great business opportunities this year because the industry gets a boost from government environmental incentives. When installing a heat pump in the home not only saves money in the long run but gets you a rebate or a tax break, consumers are much more likely to do it. Small businesses that install and service furnaces, heaters, gas fireplaces, air conditioners, heat pumps and the like will thrive.

7) Local Food Suppliers

Business opportunities supplying local food are another example of how consumer demand shapes the marketplace. Hardly anyone even bothered to read a food label five years ago; now knowing exactly where your food came from and how it was grown or raised is all the rage. It's a good thing, I think – especially for people involved in producing local food. Farmers' market and farm gate sales are increasing, but don't forget that retail markets and restaurants specializing in local food are also good business opportunities.

8) Nutrition Consulting

People's concern about food and how it's produced has also translated into a bonanza for the food as health movement. Besides jumping on the bandwagon and buying whatever food is being currently promoted as having spectacular health benefits, consumers are looking for food information tailored to their lifestyle and health concerns. It will be a banner year for nutritionists, but also for naturopaths.

9) Social Media Marketing/ Management

Unless you’ve been hiding in a cave somewhere for the past year you know how social media has grown and how it's come to be viewed as the next holy grail in marketing for businesses. What you may not have noticed is how difficult it is for many businesses, especially small businesses, to use it, making Social Media Marketing an excellent business opportunity. If you can promise and deliver actual effective social media marketing campaigns, they will come.

10) Business Security

The trend for businesses to beef up their security will continue, creating all kinds of business opportunities for products and services, from biometric security systems through security guards. Note that the type of security in demand tends to vary greatly with the size and type of business; small businesses are much more likely to invest in an alarm system than in a fingerprint identification system.

Why Are These the Best Business Opportunities?

Because these are business opportunities that have legs. Taking into account the economy, consumer and business trends, these are businesses that should be profitable not just for 2010, but for years to come.

But not every business opportunity is right for everyone. You always need to do your homework; writing a business plan is a good (and safe) way to find out if the small business opportunity you're considering is worth investing your time and money in.

source: about.com