Fast Growing Business Ideas: 5 Lucrative Industries To Launch A Startup That Can Grow Fast

Fast Growing Business Ideas: 5 Lucrative Industries To Launch A Startup That Can Grow Fast

This is the age of startups, the age of entrepreneurial ideas and so many are interested in joining this trend. We can agree that you can be successful in any industry you want to invest in but we should also agree on the fact that some industries are more lucrative than others. Therefore, to launch a startup that can grow fast will depend largely on the industry you want to invest in.

When you have an idea on the growing industries to start a business, you will be able to make a decision on the fastest growing businesses to start. It is an easy decision for you to make and we can help you make those decisions.

In your quest for entrepreneurial glory, you must consider the state of the industry you want to launch a startup in. The industry you will pick must have the potentials for growth as that will make you succeed in it.

Related: 20 most profitable business ideas In Nigeria for millionnaire minds

I believe that so many people right now in Nigeria and beyond have intentions of having to launch a startup that can grow fast, it is every entrepreneur’s dream and the world has many of them now.

Therefore, we have selected a few industries that have the potentials to grow fast and become huge. If you are looking for best industries to start a business in 2018, which industry will grow in the future, fastest growing industries in the world, fast-growing business opportunities and fastest growing industry for next decade, then you need to read this article.

5 Lucrative Industries To Launch A Startup That Can Grow Fast

  1. Educational software and online learning Industrylaunch a startup that can grow fast

The education sector is a very lucrative sector and it has the potentials to reinvent itself to meet up with the requirements of each generation. The traditional teaching methods offer little in terms of business opportunities but the innovations in education and the software developed and used in the sector presents an amazing opportunity for tech startups.

Related: Guide on how to start developing courses for e-learning business

If you need to launch a startup that can grow fast, you need to try the educational software and online learning industry. With the limitations of time and space being removed by online learning, the industry has become very important to the success of many entrepreneurs.

The global online education industry is projected to increase annually by over 20 percent and that shows that there is growth potential in the business. The courses in demand include academics, languages, professional business and marketing certifications.

Remember, people will always pay for knowledge because the price for ignorance is costlier. Paying for knowledge is a smart business.

  1. Mobile food businesseslaunch a startup that can grow fast

Everybody needs food to survive. Food will always present a good source of business because of its importance to the survival of humankind. With inventions and changes in lifestyles, it became pertinent for people to digital and mobile in the provision of food for the world’s consumption. Consider the amazing increase in independent and alternative food shops, online subscription services, pop-up shops, street vendors, and food trucks and you will see that mobile food businesses will always be profitable.

Related: Useful tips for marketing your mobile food business in Nigeria

Therefore, if you are looking for a new startup business or new startup business ideas, then you should consider the mobile food business. Furthermore, it is a growing industry that will keep growing.

  1. 3D printing

launch a startup that can grow fast

If you need to launch a startup that can grow fast, then you can consider investing in 3D printing. 3D printing is a major pillar of the additive manufacturing. This sector is making huge inroads into the manufacturing industry. Of course, you should know that the industry is going through widespread modernization efforts known as Industry 4.0.

Furthermore, you should know that you need the right technical know how to succeed in this business. With the right twists and tweaks and equipment, everything can be 3D printed. The promise of reduced cost and increased efficiency in the 3D sector has seen the industry grow in recent years.

In the US alone, it is expected that the 3D printing industry to grow to $32.78 billion by 2023 by a group known as Marketsandmarkets. You can become part of this industry and make some money.

  1. Mixed reality

launch a startup that can grow fast

Mixed reality industry offers both entertainment and business benefits. The dual purposes that it serves have made it a growing industry that if you need to launch a startup that can grow fast, that would be one of the top industries to target.

On the business plane, it can be used to conduct a meeting with remote participants (participants that are not in the same place), handle workers training in immersive and hands-on environments without necessarily taking risks on assets and can turn workers into mobile data gatherers on factory and plant floors. The market of mixed reality is projected to hit $6.9 billion by 2024 according to SuperData.

  1. Artificial intelligence

launch a startup that can grow fast

Finally, if you want to launch a startup that can grow fast, you can venture into artificial intelligence. According to Jeffrey, “AI includes diverse applications such as virtual assistants (Cortana, Siri or Alexa), automated customer service representatives on live chat, and algorithms that analyze massive stores of data to deliver recommendations and real-time alerts.” It is quite lucrative and it has been projected to hit 1.2 trillion dollars by 2020.