Published on 06/01/2019 by Any Business.Com.Au

Make 2019 the Year You Become a Small Business Owner

With the New Year comes reflection, resolutions and self-promises, whether it's time to hit the gym, eat better or concentrate on some work-life balance.

For many, it's 'I've always wanted to be my own boss and this is my year'. As many return to their 9-5s this week, we decided to parcel up some of the best small business opportunities for 2019.

From cafes, restaurants and hospitality to IT, online and home-based operations there really is a small business for everyone out there no matter your skill set – check out our list of the year's top business prospects.

Restaurants - Changing social trends have driven solid revenue growth for the Restaurants industry over the past five years. Busier lifestyles and diminishing leisure time have increasingly led consumers to turn to restaurants for meals. Restaurants allow consumers to combine dining with leisure and avoid spending time on food preparation. As a result, industry revenue is estimated to have grown at an annualised 3.5% over the five years through 2017-18, to $20.1 billion.

Car Wash - The Car Wash and Detailing Services industry has again grown over the past five years, supported by increasing consumer environmental awareness regarding the high water consumption and potential pollution involved in washing vehicles at home. The increasing popularity of 'self-serve' and 'hand' car washes has prompted estimates of industry growth of 0.4% over the five years through 2018-19, to $508.9 million.

Gyms - The Gyms and Fitness Centres industry has grown strongly over the past five years while undergoing considerable structural change. The emergence of budget gym chains and premium functional fitness gyms has stimulated most of the industry's growth. Franchises like Anytime Fitness and Jetts Fitness have undergone exceptional growth over the five-year period, attracting new customers with their affordability and accessibility. The rapid growth of functional fitness-based gyms has attracted affluent and time-poor consumers, and supported industry revenue growth. Overall, industry revenue is expected to grow at an annualised 4.8% over the five years through 2018-19, to $2.5 billion.

Franchises – Despite facing challenging trading conditions over the past five years the Franchising industry is expected to rise at an annualised 1.2% over the five years through 2018-19. Trends in real household disposable income, average weekly hours worked and the target cash rate have influenced the industry's performance, with revenue expected to further increase by 1.5% over the current year, to $181.8 billion.

Online Retail – Online retailing has brought about significant changes in the Australian Retail Trade division, representing a shift in the way consumers make transactions. The Online Shopping industry has grown dramatically over the past five years, to become part of the mainstream Retail Trade division. Online shopping has been aided by rapid growth in internet and broadband penetration, combined with consumer acceptance of electronic commerce as a viable and safe alternative to traditional bricks-and-mortar retailing. The Online Shopping industry is in the growth stage of its life cycle. Over the 10 years through 2023-24, industry value added is expected to increase by an annualised 9.7%, which is a significant outperformance compared with annualised GDP growth of 2.7% over the same period.

If you want the chance to generate a healthy income, be your own boss and make all the decisions – make 2019 the year you bought yourself a small business.

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AnyBusiness.com.au

Curtis is a leading expert in the business-for-sale industry, serving as a senior content creator at anybusiness.com.au.

With a career spanning over fifteen years, Curtis has accumulated extensive knowledge in the domain of business sales, acquisitions, and valuations. His deep understanding of market dynamics and his ability to translate complex industry jargon into accessible insights make him a trusted resource for entrepreneurs and business owners looking to buy or sell businesses.

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