A manufacturer is a person or company that produces finished goods from raw materials by using various tools, equipment, and processes, and then sells the goods to consumers, wholesalers, distributors, retailers, or to other manufacturers for the production of more complex goods. Manufacturers are considered a significant part of the economy. The typical manufacturer was a single skilled artisan with assistants. Each artisan kept the secrets of the production and transferred the knowledge only to apprentices. The Industrial Revolution was the introduction of new technologies that enabled the mechanization of production, which increased the volume of the goods produced.
Technological advancements enable the mechanization of production processes, as well as improve overall efficiency and productivity. If you are thinking of small business ideas there are many tools and processes to help you get started. Industries are popular for successful business owners across the nation. No matter what type of business you start in 2020, there are so many growing and in-demand industries to choose from. Get started today by learning how much small business financing you’re qualified for, it’s probably more than you think. These industries were the most popular in the year 2020 Small Business Trends survey. Top 10 Small Business Industries to Start in 2020.
1.The Business Services Industry
The Business Service Industry is not a sector commonly recognized by the general public or, for that matter, much of the business community itself. The definition of a “Business Service” can be summarized as a service delivered to a business directly by another business. Postal, printing and PC servicing, as well as office product sales, are all included in the wide-reaching industry of business services. These establishments that support commerce are all staying busy. However spiring business owners interested in opening a business services-based company should potentially focus on providing online-based services. Worldwide demand in the sector is driven by new business growth and job growth. Convenience-craving consumers are always looking for a way to do things better, faster and cheaper.
2.The Food and Restaurant Industry
Restaurants and other food-service providers are so widespread that half of all adults have worked in food service in one way or another at some point in their lives. The food service industry encompasses any establishment that serves food to people outside their home. This includes restaurants, carryout operations, cafeterias, university dining halls, catering and vending companies, hotels and inns, and rehab and retirement centers. Making home-cooked meals isn’t an option for everyone. Fortunately, in today’s strong economy, more people are saving time by turning to delivery services, fast-casual dining and full service restaurants, making it a great time to break into the food and restaurant industry.
According to a recent study , the key to finding and sustaining success as a restaurant owner is establishing customer loyalty. Whether your plan is to open a food truck, full-service dining or fast food chain, you can find success just about anywhere. Most food produced for the food industry comes from commodity crops using conventional agricultural practices. Agriculture is the process of producing food, feeding products, fiber and other desired products by the cultivation of certain plants and the raising of domesticated animals. If you service quality food and get creative with attracting repeat customers.
- The General Retail Industry
If you’re interested in selling a good or product in a retail setting, there’s a market for it. Industry as selling a diverse range of products. Fortunately, the general retail industry is another great example of businesses that can thrive in both brick-and-mortar and ecommerce business models. The key to finding success is understanding how people shop for your product. For example, consumers are more likely to want to physically see items like furniture, clothes and cosmetics before purchasing them.
Employers operating in the retail industry must ensure they are paying all casual employees the correct rates, including additional penalties. On 24 November 2020, the Full Bench of the Fair Work Commission handed down their decision on junior rates in the General Retail Industry Award 2020 as part of the 4-yearly Review of Modern Awards.
- The Health, Beauty and Fitness Industry
The Health and Wellness industry encompasses all activities which promote physical and mental wellbeing: from yoga to healthy eating, personal care and beauty, nutrition and weight-loss, meditation, spa retreats and workplace wellness. The growing prevalence of chronic lifestyle diseases across the globe is one of the key factors driving the growth of the market. Another niche that’s not just thriving in our strong economy, but growing without much ecommerce competition, is the health, beauty and fitness industry. From gym and fitness franchises to day spas, med spas and nutrition counselling, the options here are endless. No matter which industry specialty you choose, your focus should be on both specialization and accessibility. For example, more gyms are finding success offering boutique workouts and the same goes for spas with more narrowed product lines like Botox or organic only products. Today eating clean means eating a diet made of gluten-free, dairy-free, non-refined carbs, sugar-free food. The global health and wellness market is currently witnessing a healthy growth.
- The Automotive Repair Industry
Auto repair shops that want to ensure they will survive these disruptive trends and thrive in 2021 and going forward must begin to take steps now to prepare their shops and their staff for a future that will be dramatically different because it will be driven by new and transformative trends. If you’re considering an auto repair or maintenance shop for your next small business, you may be on the fast track to success. Several factors are contributing to this economy-proof industry’s growth. Cars are now built better and living longer, which means rather than buying a new car, people are taking their cars in for regular maintenance; this includes major body and paint services which accounts for about half of the industry’s market share.
Other popular services in this industry include oil and lubrication, transmission work and mechanical repair. Because of the brick-and-mortar nature of these businesses, start-up costs in the auto repair industry can run higher than average, so take the time to understand your financing options. The global automotive repair and maintenance services industry is forecast to grow, according to Future Market Insights, driven by increasing vehicle production and growing demand from emerging markets. Today’s consumers are keeping their vehicles longer and are more aware of the importance of preventive maintenance and scheduled servicing to maximize the lifetime value of their vehicles.
- The In-Home Care Industry
Home care can be the key to achieving the highest quality of life possible. It can ease management of an ongoing medical condition; it can help avoid unnecessary hospitalization; it can aid with recovery after an illness, injury, or hospital stay all through care given in the comfort and familiarity of home. The aging baby boomer generation is experiencing growing demand for in-home services. In fact, home senior care franchises to see 10.5 percent annual growth between now and 2022. With a wide range of needs, the in-home care industry includes everything from traditional nursing to physical therapy, home hospice, personal services and more. With a growing consumer base and the low likelihood of private health insurance disappearing anytime soon, it’s a hot time to become a business owner in this high-demand industry. When you look at the number of jobs that exist and how many are expected to be created, it is clear that there is a lot of growth taking place within the industry. Many people are realizing that home care is a much more affordable route to providing people with the assistance they need.
- The Technology Industry
The technology sector is often one of the most attractive growth investments in an economy. From social networking sites, E-libraries and phone repair shops, you can apply your specialty whether it is marketing, sales or operations to a tech-based gig that’s sure to thrive in today’s digital world. Deloitte reports that while there is plenty of room for growth in the high-tech sector, expanding companies should focus on cyber security as well as regulatory considerations sound advice for any business in today’s online world.
The technology sector offers a wide arrange of products and services for both customers and other businesses. Consumer goods like personal computers, mobile devices, wearable technology, home appliances, televisions, and so on are continually being improved and sold to consumers with new features. The term technology sector has been broadened many times to include businesses that may be better served by a more specific category. The technology sector was initially anchored in semiconductors, computing hardware, and communications equipment.
- The In-Home Cleaning and Maintenance Industry
Cleaning services include a wide range of services required by commercial and residential sectors. It comprises maid services, window cleaning, floor cleaning, carpet & upholstery cleaning, and other cleaning services, which are used by residential and commercial consumers. Among the many services in high demand due to a growing generation of aging and retired adults, along with increased disposable income nationwide, is in-home cleaning. And as long as our economy continues to be strong, you’re well positioned as the owner of a home cleaning service business.
One of the easiest ways to get started is to open a franchise. Franchises in this industry saw 3 percent annual growth from 2012 to 2017 and, though this may slow as the industry become more saturated, the industry is expected to continue to grow. Most cleaning service businesses can be operated on either a part-time or full-time basis, either from home or from a commercial location. That flexibility gives this industry a strong appeal to a wide range of people with a variety of goals.
- The Travel and Lodging Industry
It is safe to say that just about everyone has thought a good way to retire would be to open a Bed and Breakfast. And as it turns out, With younger generations looking for out-of-the-box experiences and older generations with more to spend on luxury accommodations, consumers are opting for boutique lodging experiences. This sect of the travel industry has seen almost five percent growth over the last five years and is expected to continue to perform well. The travel industry has room for growth and innovation in terms of technology, food and wellness.
- The Sports and Recreation Industry
Starting a sports and recreation small business may not seem like the most lucrative idea, but this industry is quietly growing, and there’s room for more players. Club sports programs are no longer limited to peewee football and adults want in on the fun, too. Whether you’re interested in coaching, teaching, renting equipment or facilitating activities, it’s essential to have a creative and informative website, even if it’s simple, so that the tech-savvy generations can easily search your business.
Sport is an activity involving physical exertion and skill in which an individual or team competes against another or others for entertainment. Sports are part of every culture past and present, but each culture has its own definition of sports. The most useful definitions are those that clarify the relationship of sports to play, games, and contests. Sport is generally recognized as system of activities which are based in physical athleticism.
