The Top Four Industries to Buy a Business in 2021
Business around the globe was thrown into a tailspin with the COVID-19 pandemic. Even with vaccines being distributed to high-risk people, the pandemic is far from over.
The pandemic is likely to continue affecting business everywhere for much, if not all, of the year. The coronavirus is also likely to have long-lasting effects on business even after it’s under control.
As we start to approach the one-year anniversary of the first confirmed coronavirus case in the United States, some aspects of business in the future have become clear.
Some ways of doing business will be changed forever. Some industries may be completely different than they once were. Others may continue their meteoric rise.
With so much uncertainty still in the world, though, it can be challenging to feel confident in a large business investment. This shouldn’t stop you from buying a business, though. However, you may want to look at some industries that are ripe for investment.
Here are the top four industries to buy a business in 2021.
If the pandemic hammered home one long-lasting trend, it’s that consumers love to shop online. E-commerce used to be reserved for small goods, apparel and technology.
With the outbreak of the pandemic, e-commerce stretched into industries that once were significantly behind the eight ball. Grocery stores got into the act — either offering direct delivery services or partnering with other companies to provide the service. Big box stores ramped up their delivery efforts, as did mom-and-pop shops.
All of this e-commerce wouldn’t be possible without transportation services. The marketing and sale of goods can easily be done online. But the end-line delivery of the goods still needs to be done the old-fashioned way.
This trend is likely to stick around for much longer than the pandemic. As such, purchasing a business that specializes in last-mile delivery could be a great option. Other options would be technology businesses that focus on logistics or delivery services.
This is a rather generic industry descriptor. But, one thing is for sure — companies in every industry relied on technology more in the last year than they probably have in their entire existence.
Specific sectors of technology that thrived in 2020 were communication apps, project management apps and anything that enabled companies to thrive during the work-from-home environment.
In 2021, a big opportunity exists to harness the power of artificial intelligence (AI).
Way back in 2017, well-known investor Mark Cuban — who is a panelist on “Shark Tank” and owns the NBA’s Dallas Mavericks — explained his thoughts on AI. He said “the world’s first trillionaires are going to come from somebody who masters AI and all its derivatives and applies it in ways we never thought of.”
Roughly four years later, we’re on the brink of that happening. Even if you don’t necessarily have dreams of being a trillionaire, there are plenty of opportunities to succeed in businesses that specialize in using AI in new ways.
The pandemic has changed healthcare immensely. It’s not just that more people required medical attention in the last year; it’s that the pandemic changed how a lot of people approach medical needs.
Televisits became commonplace for all non-emergency medical visits. If someone was feeling sick, they could pop online and connect with a doctor virtually instead of having to trek to the office. Drive-through services expanded for not just COVID-19 testing, but for prescription delivery.
These are just two examples of how healthcare changed. As an industry, healthcare is ripe for disruption.
The population in the United States is aging rapidly, with Baby Boomers getting older and requiring more medical attention. The companies that could experience success in healthcare in 2021 and beyond won’t just be large healthcare facilities, though. It’s also companies that help these facilities administer their services in a more personalized, convenient and cost-effective way, using the power of data.
This, again, goes back to technology. Medical and healthcare technology is a field that is grabbing a lot of attention. How can multiple doctors and facilities work together to share information that, in the end, results in better healthcare for Americans?
It’s not just about healthcare delivery, though. Support services for the industry including customer service, videoconferencing and billing could boom as well.
With so much of everyday life going online, the importance of cybersecurity has increased significantly. A lot of big companies are pushing for solutions that’ll keep information and data safe online, and that will prevent against cyberattacks from hackers.
Much of these cybersecurity efforts are being geared toward larger companies, though. In the meantime, small- and medium-sized businesses are reliant on cybersecurity measures that are put into place by their vendors.
One potential area of opportunity is cybersecurity measures that these smaller and medium businesses can take advantage of. Even simple solutions for protecting local data and information for a company’s customers and employees will be very valuable in 2021 and beyond.
Talk to a Sunbelt South Florida broker today!
Sunbelt Business Brokers of West Palm Beach provides dedicated business brokerage services for all of your selling needs. Whether you are an established business owner nearing retirement and looking to sell, or an ambitious entrepreneur seeking your next investment opportunity, there is no reason to look beyond Sunbelt Business Brokers. Visit us at 800 Village Square Crossing
Suite 216 Palm Beach Gardens, FL 33410 or contact us at (561) 832-9222.