Companies that choose to capitalize solely on the current needs of their audience – without growing or branching out into new and upcoming technology or services – run the risk of shutting their doors when their product is no longer needed by society.
The march of time stops for no industry: no amount of regulation nor government subsidy is going to keep coal plants burning forever.
If you want to future-proof your business and maybe even pass it down to your children, then choosing the right field will be an important decision for you to make.
Though our needs change and evolve with time, there are some lines of work that will almost always have high demand. Let’s take a look at five of them today.
People have to eat, and that fact isn’t going to ever change. Restaurants have existed as long as modern civilization has existed. Some places are still in business even after centuries of service.
Most restaurants are tragically short-lived, however, and usually, fail due to poor management and lack of focus.
If you want to stand the test of time, then you have to make something that people want – and do so in a way that is simple and straightforward.
If you have the capital, you can skip much of the fuss that many entrepreneurs face when opening a restaurant by franchising an already-established brand.
While you can customize various elements such as flooring and commercial bar stools, the franchise generally supplies the equipment and décor necessary (along with many other rules and stipulations).
Handyman or Contracting Firm
Housing and commercial properties are a requirement in any economy or market and building and repairing these establishments will always be in demand.
If you’re good with tools and already have a truck, your cost to enter the contracting field could be relatively nothing. Negligible overheads and low costs of operation can give you a lot of mobility if your capital prevents you from loftier ambitions.
Related: 8 Realistic Million-Dollar Business Ideas
Medical advances have allowed the most privileged to live longer and healthier lives, but those extra years come with an exponential increase in the need for assisted care.
A sick and aging population in most countries has led to a boom in demand for elderly care, ranging from surgeries and medication to grocery shopping and housework.
There is a lot of money to be gained from providing senior services, with a projected net worth of around $400 billion in the US in 2018 alone.
Read also: How to Start a Van Rental Business
Pet Care Services
More households in the United States have a pet of some sort than those who do not, and all of those cats and dogs need food, housing and entertainment.
Your potential pool of customers is already huge. Few industries can say they have such a large number of possible clients.
In only 10 years, the pet care industry has almost doubled, from $43 billion in 2008 to a projected $72 billion in 2018.
Places get dirty when they’re being used: that’s a fact of life that can’t be ignored. Someone is needed to clean up the messes that are made in schools, homes and office buildings every day.
A cleaning business requires a relatively small investment to set up and operate, and you’ll never have to worry about a lack of work.
If you want to avoid your livelihood dying out with the next cultural or technological shift, then finding an industry that never goes out of style is key.
Following short-term trends may be an attractive option for immediate gain, but you risk going broke and out of business just as quickly. These five examples may be just the kind of businesses you need to consider in order to build a permanent commercial venture.
Resources to help you start your own business
Make Your First Money Online Freelancing [Free Course] – I created a free course sharing my journey to making more than $4,000/month blogging. It all began with freelancing and you can use this course to follow the steps I took to become a freelancer with no experience and earn my first income online.
How to Start a Profitable Blog– This step-by-step guide to starting a blog is a must for everyone who wants to start earning online and become self-employed. Having your own blog is the first step to selling products, making money from affiliate marketing, building a name for yourself, getting traffic and monetizing that attention.
The Passive Income Boss[Free Course] – That’s another free course I released on the topic of earning passive income through blogging. You’ll learn what passive is exactly and how it works, how to get started with blogging and make your site powerful, and the 4 main passive income streams you can create using your blog.
Blogging Resources – To build a powerful site that turns visitors into buyers and monetize it well, you will need the right tools. In my Blogging Resources page, I’ve gathered the best of the best and the exact tools I’ve used to grow Let’s Reach Success and be able to make a full-time living as a location independent freelance writer.
4 Ideas for Side Hustles – Check out 4 side hustles you can start on your own and no later than this weekend that can be your chance to achieve financial independence.
My Monthly Income Reports – If you’re curious how bloggers make a living online, check out my income reports. I publish these monthly and share all the numbers together with the lessons I learned and the new things I’m working on.
Making Sense of Affiliate Marketing – If you’re not earning money through affiliate marketing, then you are leaving money on the table. This step-by-step affiliate marketing strategy course shows you how to increase your affiliate income and make more money blogging. It’s by Michelle from Making Sense of Cents who went from $0 in affiliate income to over $50,000 per month (and also the first online course I’ve ever taken).
How I Became a Location Independent Freelance Writer – In this post, I outline the exact steps from shifting my mindset back when I didn’t believe I could be making any money online to finding my first client, making my first $1,000/month, moving to another country and becoming location independent.
How to Write and Publish Your First Book in Less Than 30 Days – Check out my guide on how to become a self-published author in less than a month. I’ve published plenty of eBooks and have included all the steps you need to go through, from choosing your niche and word count and committing to writing the content to editing, formatting and marketing the book.
How I Make a Living with Sponsored Posts – My monthly income reports won’t be complete without sharing the how-to of sponsored posts. That’s how I earn half of my income. In this post, I share more about how I started with it and what I charge.