“Make something people want” includes making a company that people want to work for.” ~ Sahil Lavingia
Start-ups are the flavour of the season and will be here to grow bigger and better with time. Not just that, there is immense growth potential vested in start-ups and therefore, the hype over starting a startup is well justified. There are some specific niches that have a higher propensity to succeed in the rat race of start-ups than other. Take a look at the top four start-up niches that are prone to succeed better than the rest in the market.
Also Read: Signs Of A Healthy StartUp
This is one niche that needs more encouragement at the moment. There are a number of leading players in the food delivery startup sector. However, there is ample scope to invest in a community food based start-up and this can escalate the revenues as well. The only thing to considered here is to consider zonal models instead of attempting a hunger cross country model right at the beginning.
From fashion counselling to styling session offerings, there is a need to encourage fashion service based start-ups in the current marketplace. The investment is low given that the main service is based on knowledge. In comparison, the returns are higher than what other typical startup niches gain. Fashion based start-ups can go a long way if they follow a service offering model rather than opting for a goods/product oriented model.
They say that educational service based start-ups have a long way to go. From tutoring to counselling services, these services are justifiably called evergreen given that the demand barely fades. You get to set a related start-up at a lower cost when compared to similar entities.
The healthcare sector, if focussed on the elderly care aspect, needs more encouragement in the startup scenario. This is integral since there is a rising need to manifest such services. With apps for contacting doctors, 24*7 helpline options available for healthcare startup enthusiasts, there is ample room to experiment.
With the rising need to offer top-notch services in the market for the above niches, startups can now truly begin to explore varied dimensions. The need of the hour is to offer power-packed yet affordable structured startup services for customers. Once a startup in the relevant domains gets the right dose of encouragement, the sky is the only limit. Since there is so much happening in the startup space at the moment, it is the time you got those ideas right. Once you are sure that you can implement this for the long run, plan things in the right direction. Execution to your plans is key and therefore, you need to watch the planning bit right from the start. There is not much to lose as much there is to gain in the startup space. Good luck.
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