Trends for 2011 by ScoreSMB

VIEWS: 962 PAGES: 1

									Trends for 2011
                    By Rieva Lesonsky

                    Are you looking to start a business, or add on to your existing business?
                    Either way, you need to stay on top of the trends driving small business.
                    Here’s a look at just a few trends I think will do well next year. For more
                    insight, or help in getting going, contact your SCORE advisor.

                     Hot Trend: Babies
                     There are still more than 4 million babies a year born in the U.S., which
                     means we’re officially still in a boom. Since the current baby boom (I’m
                     calling it Baby Boom 2.0) started around 1987, the oldest “kids” turn 24
next year. This will naturally give way to Baby Boom 3.0, because the average age when
women in America give birth to their first child is 25. That’s a lot of babies being born today
and well into the future, which equals many opportunities for small business owners to jump
on. Babies need stuff—and lots of it. Consider day care, furniture, clothing, accessories, books,
toys, DVDs and lots more.

Hot Trend: Weddings
As I mentioned above, the leading edge of Baby Boom 2.0 kids are growing up. This will soon
lead to a wave of weddings, because the average American woman gets married at 25. There
are lots of ways a business can cater to the soon-to-be-married. You can provide clothes,
stationery, invitations, gifts, catering, wedding planning, jewelry, photography and
videography.

Existing businesses that can take advantage of this coming trend include restaurants, flower
shops and travel agencies (for planning a destination wedding or the honeymoon).

Hot Trend: Mobile Food
We are not talking your father’s roach coach here. Instead, think gourmet food on wheels.
Ranging from rich treats like crème brulee, to exotic Kobe-beef burgers and Korean barbeque,
to good old comfort food like cupcakes and grilled cheese sandwiches, savvy entrepreneurs
can be found selling food on street corners in nearly every good-sized city.

While buying a new truck is pricey, check for used vehicles that you can update. Or skip the
wheels altogether and opt for a food cart. Scoring the right location is key; the more foot
traffic, the bigger your potential sales.

These are just a few big opportunities to jump on in 2011. Keep reading these newsletters for
more.

BizSuccessTips Editor Rieva Lesonsky is founder and CEO of GrowBiz Media, a content and
consulting company. A nationally recognized small-business expert, Lesonsky has appeared on
hundreds of radio shows and numerous local and national television programs. Read more of
her insights at SmallBizDaily.com

								
To top