Thinking of going into business in 2018 but still need to come up with that niche category that could make you millions? This Changes Things hosts Baker Machado and Hope King explore four different business options.
First up, a subscription box service. The concept is popping up everywhere, from food and beauty supplies to pet products. If you can find a unique product category that is still untapped in the market, you could be in business.
Another sector with continued growth potential is the food truck business. It's a smaller investment than a brick-and-mortar restaurant and the failure rate is much lower: 10 to 20%, compared to the 60 to 90% failure rate of a traditional eatery. On top of a food truck, a healthy vending machine company could provide some start-up opportunities.
Lastly, selfies are here to stay, and it may be beneficial in the long run to start a selfie drone business. The industry is expected to reach almost $130 billion by 2020.