It is really a good time to have your own business. Emerging marketplaces with a rich growth potential, a steady economy and an improved consumer spending have set the groundwork for a prosperous future for small-sized businesses within America.
It has been witnessed that the SBA loans are granted frequently; now along with the low interest rates and the Baby Boomers inching toward their retiring age, it is a pretty good time to realize your long-cherished dreams of entrepreneurship. These factors combine together to form a really excellent atmosphere for entrepreneurs who are looking forward to living their dreams of owing small-sized businesses.
Buying or acquiring or merging with a business is a crucial life decision that should be done only after performing extensive research works and after considering all the internal and external business factors. However, whenever a business is being bought, the most important part is to pick an industry; this point will become ever more important if an entrepreneur is making this decision. For this reason, here is the low-down on the top industry that has displayed remarkable potential as well as stability for investing money and for embarking on the eventful journey of becoming a small business owner.
The warehouse and storage sector
· The Net Profit Margin for 2015: 36.8 percent
· The projected growth for 2016: 5 percent
The self-storage industry is becoming one of the topmost growing sectors within the U.S. economy. For the past four decades, this sector has grown by leaps and bounds and has been termed as “recession-proof” by many trade analysts.
During tough economic times, many Americans gave up their everyday luxuries before getting employed within the countless storage units that dot the American continent. In a fluctuating economy, doing a business that does not change much and even carries great financial tides is a key bonus for any business owner.
Close to 9 percent of Americans have their space earmarked within a storage unit-even if they are having an attic or a garage. One more interesting fact-if you happen to combine all the storage spaces within the nation, it will easily equate to more than 2.3 billion sq. ft. of space-that is, indeed, expansive! More than 6 percent of the storage units are often leased to the military personnel, too. That is, by investing in the business, you will not only let the nation’s military contribute to the business’s bottom line but also earn its precious loyalty. Last but not least, this sector is having a high profit margin (close to 36 percent) and has an admirable annual growth rate (nearly 5 percent).