Business Ideas: Capitalizing on Top 5 Business Trends Waterville ME

Previously, NuWire identified and ranked the Top 5 Business Trends that present great opportunities for business owners. In this companion article, we present six innovative business ideas that exemplify these trends; however, aspiring business owners may find that, with a little food for thought and a lot of motivation, the opportunities are endless.

Foreign market consulting

A business in foreign market consulting can help U.S.-based businesses take advantage of exporting opportunities. Because of their high demand overseas, sophisticated capital goods such as medical equipment and electrical machinery may offer some of the greatest potential for exporting. Additionally, the emergence of the middle and upper-classes in rapidly developing countries such as China and Russia has also driven demand for luxury goods such as diamond jewelry.

Foreign language proficiency is in high demand In addition to the U.S., opportunities for foreign market consultants exist in Latin American markets. Latin American currencies are closely tied to the weakening U.S. dollar , and thus hold lower value than other global currency markets. For such a venture, Spanish-speaking individuals would possess a significant advantage.

Bilingual Spanish-English call centers

As the cost of labor rises in offshore locations such as India, call-center job outsourcing may shift to closer and more convenient markets. In this regard, Latin America is an excellent market for planting bilingual Spanish-English call centers. Demand for this type of service is likely to increase as the Hispanic population in the U.S. continues to grow. Individuals with Hispanic origin make up almost 15 percent of the entire U.S. population and it is projected that their numbers will grow to one quarter of the entire population by 2050, according to the U.S. Census Bureau.

Fractionalizing ownership for single-family vacation homes

Many vacationers do not have the means or desire to cough up $300,000 to $400,000 for a vacation home. Fractionalized ownership between 10 owners for $30,000 to $40,000 each may be a more palatable alternative. Savvy investors who purchase a property for fractionalization can form their own company or outsource the process. Many low-end and high-end properties are available for fractional ownership, but middle-of-the-road single-family homes are still lacking.

Fractional ownership is a smarter alternative to timeshares, which tend to be overpriced and lose their value quickly. For more information about timeshares, read our previous article, Why Timeshares are Horrible Investments .

International real estate brokerage

International real estate companies have yet to establish a solid presence in the U.S., although an increasing number of Americans are becoming acquainted with global travel. The number of international travelers from the U.S. has steadily increased over the past decade, from approximately 53 million travelers in 199...

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