Here is something for us all to think about when considering what would be a good business to start.
The headline in the Wall Street Journal last week was written by Conor Dougherty. Conor wrote, “Americans are spending on home improvements.” The article reinforces what I have been seeing over the last couple of years: 1) “People are remodeling instead of moving” 2) Most of today’s renovations aren’t sweeping: They are more likely to feature new lighting or updated kitchen cupboards” -The kind of repair on the smaller scale many contracts do not like to touch because it is too small. 3) ”Individuals now spend more on home improvements than builders do on new home construction.” Dougherty even reported that families who are under water on their mortgages are investing in their homes “for reasons that are mostly emotional.”
Every repossessed home has dozens of things needing repair. Homeowners are spending on their most important asset their home, if they are staying in it, selling it or buying used, they are fixing and improving the special place they live.
If you want to start a business, consider the service industry. You could do well while serving people in some way, either working on their computers, repairing homes or helping the elderly be comfortable in their old age while living in their own house.
I also want to start my own business as soon as possible. I always find inspiration in the words and work of successful businessmen like Richard Branson or Yuri Mintskovsky. They are amazing role models and I would like to meet them in person!
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