The Next Major Growth Industry

I’m a big beleiver that the next major growth industry– especially for small business– will be luxury services. Even with the economy where it is, people are willing to spend huge amounts of money on some seriously decadant services.

I take a look at this trend in a long-form article on Small Biz Advisor…

…the bottom line is that, although our economy seems tough right now, our standard of living is incredibly high. Find a way to feed people’s perceived need to save time and reduce stress and you’ve got a viable small business…. Look at what the super-rich are doing today, and build a business around offering the service to an upper middle class clientele.

I also talk about the key points in terms of location, clientele, the angle, and the experience.