Buy businesses that will do well in the next decade or so by catering to the needs that will be important in the future. Rather than grabbing on to a current trend, the smart business buyer will look at industries on a growth track because of demographic, economic, cultural and social developments. Included are:
1. Senior services. As the population rapidly ages, with more and more people in need of some sort of assistance as they reach their senior years, the companies that sell products and provide services to this market stand to gain dramatically in business. On the retail side are stores offering walkers, incontinence aids, hearing devices and other products needed by those becoming less mobile and experiencing health challenges.
Services cover a wide range from in-home help offering companionship, transportation and shopping assistance for example, to facilities such as activity centers and agencies organizing travel programs for older citizens.
2. Child enrichment and education programs--Shrinking state budgets have drastically reduced the opportunities for those of school age to gain exposure to music, languages, athletics and specialized educational activities. Californians wanting to buy businesses with a future will find opportunities to work with small children by purchasing a day care center. And for those interested in working with older children, there may be an opportunity in your area to acquire a dance academy, music or language institute, summer school program or other services that help youngsters gain skills and knowledge, and assist parents whose career demands require work during some of the hours that the kids are not in the public or private schools they attend.
3. Many Californians with full work schedules also have need for help with pets, provided by businesses such as pet (boarding) hotels and daily care facilities. Until a few years ago, there were few businesses in this category, but growing demand has given rise to a booming industry. This total economy, including pet supplies, sellers of animals, and services has experienced much less disruption during the dip in the economy than most other businesses catering to consumers. And pet care remains a leader in the pets business, in terms of new company formations.
Animal lovers wanting to buy businesses with strong future prospects are advised to take a look at the range of service companies from the simple, one-person dog walking and animal "sitting" enterprises to the large boarding companies.
4. Thrift shops, consignment stores and retailers offering “pre-owned” furniture, clothing and housewares don’t attract much attention compared to fashion outlets and big-box stores with low pricing. The fact is, however, the need of a growing number of Americans to carefully control their spending is creating a vibrant business offering bargain goods by selling recycled items or products that are made and sold cheaply. Companies in this industry are multiplying in most metropolitan and rural communities and might be offered for sale by individuals as well as franchisors. The trend that places consumers in the position of flat earnings but rising living costs is expected to continue well into the future. The retailers able to cater to the need for inexpensive goods should enjoy expanding demand for the foreseeable future.
Among the companies expected to do particularly well in the next several years, many require owners and employees with specialty training in engineering, environmental sciences, and other technical disciplines. The virtue of the four industries mentioned here, is that they can be successfully operated by those without technology backgrounds who want to buy businesses likely to grow at least through the early part of this century.
About the Author: Peter Siegel, MBA is the Founder of www.BizBen.com (established 1994 - 7000+ California businesses for sale, 200 new listings daily) and the Director of the BizBen Network (16,000 business buyers, 4,000 small business owners, 1,800 California business brokers & agents). BizBen.com offers business buyers free online webinars/educational events, and phone consultations on the best way to find and buy a California small to mid-sized business. Business buyers can reach Peter Siegel direct at 866-270-6278.
Posted on May 11, 2011 | 
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