Trends in Technology
The business world is changing, and companies are rapidly shifting their strategies and processes. Entrepreneurs are now shifting their focus to business innovations for 2021. Thanks to generational marketing and product development, more new age business ideas are rapidly becoming a reality.
Read on to learn more!
New Age Business Ideas, Products, and Services
The term New Age encompasses alternative approaches to traditional Western culture, environmentalism, humanity, and spirituality. The New Age products and services category hasn’t changed since the 70s.
The next generation of entrepreneurs needs to develop New Age business ideas to be successful. They can do this by studying conscientious, positive movements like veganism, conscious consumerism, and minimalism.
Establishing a New Age business involves understanding consumer psychology and developing products and services that take the consumers’ needs into account. Developing New Age products and services involves looking at social movements from a customer-centric lens to discover modern consumer demands and satisfying them with new offerings.
So, without further ado, let’s look at 8 booming New Age business ideas:
1. Healthy Fast Food
The plant-based food industry is set to reach $74 billion by 2027, and American vegans make 6% of the population. That’s a potential target market of 1.2 million people for this new category of fast foods. Don’t be mistaken – regular fast food is thriving just as much as it did 20 years ago, but people are seeking healthy alternatives to greasy meals.
Customers are seeking healthier alternatives without compromising on taste. For example, instead of going to the nearest McDonald’s or Carl’s Jr., people are opting for vegan burger chains like Earth Burger and Veggie Grill. So, healthy fast food trucks are a great niche to explore.
2. Tiny Houses
The tiny house movement is creating some serious buzz on social media by portraying a minimalist lifestyle that’s economical and environmentally friendly. People are downsizing their spaces to improve living standards.
People are turning to tiny homes as a possible solution for accommodating the growing population and combating inequality. It is also giving rise to other new industries, such as multi-purpose furniture, tiny home interior design and construction, compact appliances, renewable energy solutions, and home rentals.
Plus, plenty of college students seek tiny mobile houses so they can travel without paying for accommodation. Did you know that there are tiny hotels around the country that you can check into?
The possibilities here are endless, and with the trend growing rapidly, there are soon to be more customers in the market than small businesses.
3. Ethical Business Consulting
Ethical entrepreneurship and management focus on the social issues relevant to the current generation. It’s not just about protecting employees and businesses from discrimination based on race, gender, sexuality, and religion, but also social responsibility and environmental awareness.
Thousands of potential clients are waiting for ethical consultants for various purposes, like a company planning to change their hiring policies to promote a multicultural workforce.
4. Cleaning Services
According to Businesswire, the cleaning service industry is poised to grow by $90 billion during 2020-2024. Due to COVID-19, there’s rising awareness about health, wellness, and sustainability on commercial, industrial, and residential levels. Starting a cleaning business is inexpensive, and with people becoming more health-conscious, you can easily have clients within days of launching!
Plus, you don’t need to rent or buy premises, a company vehicle, or pay utility bills. All you need is a vendor’s license, a crash course on cleaning 101, and cleaning essentials.
5. Virtual Reality and Its Accessories
Virtual reality is a futuristic facet of technology. With a pair of goggles, some hardware, and software, you can enter different worlds. You don’t have to be a computer-savvy person or programming genius to create a VR business. Besides, most VR businesses have nothing to do with design and development. You can simply start a new blog or website and write about tech, games, and more.
You can also start a store that sells these gadgets and their accessories. If you’re good at the designing side of things, you can develop games and software as well.
6. Educational Technology
We’ve seen the impact of COVID-19 on education worldwide, with millions of schools closed for months. However, the educational technology industry was booming even before the pandemic, and now, it might be the future of the education industry.
And this New Age business idea goes beyond video conferencing and hybrid teaching models. Now, we have student portals, educational games, online discussion platforms, and unconventional courses. In simple words, you can start a teaching business if you have a teachable skill.
7. Personal Network Security Solutions
Cyber threats haven’t slowed down and are increasingly becoming more dangerous. Practically anyone with a smartphone or computer is susceptible to network security threats. So, there’s a huge market of buyers who’d be willing to pay a small premium for their peace of mind.
You can create a business-to-business model and provide network solutions for enterprises. You could also sell solutions to consumers directly. Whichever path you choose, the possibilities are endless.
8. Website Flipping
Website flipping is like real estate for websites; instead of selling property, you’ll be selling created websites by matching buyers and sellers. All this requires great research and basic digital marketing skills, making it one of the smartest New Age business ideas today.
If you’re a programmer, you can create and trade websites in platforms like FreeMarket or Flippa or strategically buying and selling domains.
Need More New Age Business Ideas?
We hope you found this post informative, and you’d be glad to know that these New Age business ideas are just the tip of the iceberg. There are thousands of events, movements, and trends driving change worldwide, so there’s plenty in store for the next generation of entrepreneurs to dive into.
If you need more information on business trends and technology, visit Percento Technologies today.