Our Top 3 Tips for Trending Business Ideas
If you’re planning on starting your own business, you might be concerned about the initial start-up costs. An authorised direct lender, like paydayloansnet.co.uk, can give you the helping hand you need with a quick and convenient online application. Otherwise, there are plenty of funding, mentoring and loan schemes available in Wales – both on a local and national basis.
Before taking the plunge and investing time and money, it’s worth researching the market to find out what the latest trends are. Even the most brilliant business idea won’t make money if there is no market for your service and/or product.
Depending on your area of expertise and interests, you might transform one of the following ideas into a moneymaking enterprise:
- Men’s beard products
Facial hair has made a comeback. According to YouGov statistics, the number of men with a beard, moustache or stubble has grown by a third since 2011. 18% of men now have a full beard while 17% have stubble.
Apart from grooming equipment such as trimmers, combs and brushes, there is also a growing market for beard care products like tonics, balms, oils and conditioners. This trend is particularly popular among the younger generation – 61% of men aged 18-39 now sport some kind of facial hair. This demographic is positive for a start-up since this is the age group with the largest disposable income to spend on grooming products.
It has been estimated that 16% of new apps come under the category of educational tools. For a generation which has grown up with electronic devices, this is their preferred way of learning and the category covers everything from languages to fitness workouts.
One example of a successful learning app was one created by Cardiff-based Eiry Thomas. Her bilingual interactive app follows the adventures of Y Sbridion (Flitlits) and encourages literacy skills among the young.
With more and more people interested in learning another language and many Americans wishing to discover their Welsh heritage, an app aimed at an older audience could be a real money earner.
- The lure of the Orient
Although Chinese restaurants have long been a regular sight on British High Streets, the fastest-growing Asian cuisine over the past decade has been Japanese restaurants. According to Mintel, their numbers have grown by over two-thirds.
If you are reluctant to enter the restaurant business, the latest lifestyle trend is Kintsugi. Also known as Kintsukuroi, this 15thcentury philosophy and art form is concerned with making the broken look beautiful again. In its original form, it involved repairing broken ceramics using a lacquer coated with a precious metal to create veins of gold, silver or platinum over the lines of the breakage.
Its use isn’t restricted to pottery. The influence of Kintsugi can be seen in many other sectors such as jewellery-making, home décor and clothes.
Even if none of these trends appeal to you, they might still give you the spark of an idea for your own start-up. For further inspiration, you should read the celebrity news and lifestyle sector of a tabloid like the Mirror.