Before organizing their own business, each entrepreneur asks himself what kind of business is now in demand. It is especially important to identify which services or goods will be in consumer demand during the economic crisis, and many mistakenly believe that in such a situation it is pointless to start an entrepreneurial activity. In fact, this is far from the case; there are many ideas that will help organize a profitable business regardless of the economic situation in the country.
How to determine which business will be in demand?
It is impossible to answer unequivocally which business is now in demand. It depends on many factors, primarily on the region and the settlement. For example, in large and economically developed cities, the population needs agricultural, natural and environmentally friendly products, such as milk, meat, vegetables. In rural areas, all of the listed goods in stores will not be in demand, because most residents have their own household.
In addition, when it comes to the economic crisis, demand for expensive goods and services is falling. But this does not mean that the population will stop buying food, clothes, going to hairdressers, no, goods of a lower price category will simply be in demand. That is, it is advantageous to open economy-class stores, and the entrepreneur’s benefit, accordingly, will be due to greater turnover.
So, to determine the profitable direction for business in your region, you need to analyze the market. You also need to evaluate competitiveness and purchasing power. In a word, conduct marketing research.
Below are some far from new, but still relevant ideas for business. It is worth noting that this activity will be in demand both during the economic crisis and after it.
Trade
At all times, trade was considered a profitable enterprise. Today, the market situation has changed due to the large and rapidly growing competition, but this does not mean that it is impossible to organize a promising business in the field of trade.
Today, the most popular are low-cost products, because the majority of the population selects essential goods at a more favorable cost to themselves. This is not only food, they also include medicines, clothing, personal care products and much more - what people buy every day.
If you plan a profitable business in the field of trade, then you need to focus on customer demand. That is, for example, in a residential area of a small provincial town, it is not advisable to open a supermarket, large financial costs will soon pay off. It is also important to adequately assess your competitiveness: even in a densely populated area, where there are many grocery stores of various formats, you should not open another one, because there is a high probability that it will not be in demand.
So, before you engage in trade, you should study and analyze the situation on the market. Perhaps, in one particular area, buyers lack stores with a low price policy, and there is some reason to open a point of sale that will make profit due to large turnover of goods.
Production
Undoubtedly, those who are wondering about what kind of business is now in demand, and at the same time has sufficiently large material opportunities, can consider production as a profitable business. Here, as elsewhere, it is important to focus on customer needs and competitiveness.
For the organization of production, it is very important to correctly determine the direction, the manufactured goods must have high demand and low cost. In addition, the profitability of the enterprise depends on the volume of the product.
What exactly can be produced depends on many factors, it can be baking bread, sewing clothes, production of plastic bags or toilet paper. First of all, the product should be in demand and accessible to the population.
Services
In each area you can find your place and organize a profitable business. The concept of services is quite extensive, which of them will be in demand in a particular area? One can only generalize which particular enterprises are on average in particular demand:
- law offices;
- security companies;
- cleaning agencies;
- advertising agencies;
- repair shops.
This, of course, is not the entire list of the most popular services. Nevertheless, when planning a business in this area, it is necessary to take into account the fact that services should be useful to a potential client and be in demand. For example, a computer and digital repair workshop is quite relevant today because many people prefer to fix the breakdown for a modest reward than to buy new equipment for a lot of money.
One caveat is fierce competition in today's market. This ultimately leads to the fact that prices for services fall, and profits, respectively, as well.
Agriculture
In fact, this is the most demanded business today, because agricultural activity in our country is rather poorly developed. But our compatriots prefer environmentally friendly products grown in Russia, and, by the way, many buyers are willing to pay much more for them than for imported goods.
Here, of course, everything is not so simple, because there are many difficulties with organizing a business. Growing vegetables, for example, involves high costs for the purchase of a land plot, construction and equipment of greenhouses, if year-round production is planned. And agriculture will not bring profit immediately, the minimum period is six months. This is probably why almost no one wants to fill a free niche.
Catering
A sufficiently demanded business in a small city is a fast-food cafe or a dining room. Anywhere, catering points are relevant and in demand, but due to the economic crisis, expensive cafes and restaurants will not be in demand. But budgetary institutions, on the contrary, will surely be a great alternative for those who are used to eating out.
Fast food cafes attract a fairly wide target audience; these are students, schoolchildren, tourists, employees of various organizations. The main advantage of this institution is that the products are prepared quickly, have high nutritional value and at the same time affordable prices.
A promising thing may be the opening of a dining room, for example, on the territory of a large enterprise. As a rule, it is budget institutions that are in great demand among middle-class buyers. But there is also quite serious competition, which must be taken into account.
Lending
Oddly enough, but lending is a profitable business. Today, due to the fact that most banks are increasingly refusing to provide loans, the number of microfinance organizations and pawnshops that issue short-term loans at a high percentage to almost everyone has increased.
But the difficulty here is that opening a financial institution in Russia is not so simple, because it will take a lot of time and effort to solve organizational issues. Of course, there is no need to talk about competition: there are plenty of similar enterprises in both small and large cities.
Some promising examples
It is not so easy to determine the business in demand in Russia, but as an example, you can consider several ideas that will win the target audience regardless of location:
- The sale of consumer goods: food, medicine, clothing.
- Repair of household and digital appliances.
- Advertising.
- Security, that is, security systems and the services of private security guards.
- Car repair and maintenance.
- Vending business.
- Sale of alcohol and tobacco products.
- Building.
- Education and training, business training.
Which business is not too profitable to start today?
If it is quite difficult to determine the most demanded business precisely, then we can say with confidence that there are enterprises whose activities today have lost their popularity. First of all, these are book publishers and shops.
The fact is that the main source of any information is the Internet, therefore, print media, in fact, few people need. Although it is fair to say that scientific publications or teaching materials can find a buyer.
Conclusion
Unambiguously determine which business is now in demand, it is impossible only because many industries have a certain demand. Most likely, first of all, it should be determined where there is less competition and how much the new enterprise will surpass existing organizations.
You also need to be able to determine the needs of a potential buyer. By the way, this can be done independently, because after all, the majority of consumers are ordinary residents of the village, including relatives, neighbors, friends. It is enough to conduct a small survey and draw a conclusion. If potential customers are legal entities, then it is advisable to entrust marketing research to a professional marketer.
And the last one. It must be borne in mind that the concept of "promising business" means that the company will make a profit not only today, but also in the future. Of course, it is difficult to predict the situation on the market and even an expert in this matter will not give an exact answer, but even at the planning stage, risks and the prospect of developing your enterprise should be foreseen.
