Eco-Friendly Business Startups will be HOT in 2019
As autumn sets in across the US, most people are enjoying the drop in temperatures (here in Central Florida, that means mid to upper 80s) and preparing for the holidays. For me, my thoughts, as all serial entrepreneurs’ thoughts should be, is focused on preparing my business for the new year, 2019. As a business plan writer and business consultant, this means reading a multitude of different business-related articles. From my readings, a trend is emerging for new startups companies. This trend is eco-friendly startup companies.
These businesses take traditional company structures and embrace environmentally friendly practices to not only satisfy customers’ needs but also protects the environment through the course of their business.
And here is the real kicker… studies have shown that eco-friendly businesses not only do just as good of a job as traditional businesses but they are also able to charge a premium for their differentiated services. In other words, eco-friendly businesses are inherently differentiated from traditional organizations and they can charge more money for pretty much the same work because they take care of the environment. What a great concept!
Because this trend will inevitably continue for the foreseeable future, our business plan writers have identified three potentially lucrative eco-friendly business that may be started now or in the coming year, 2019.
- Organic Catering - Organic catering are caters who use only organic ingredients to prepare their menu items. Further, their foods are free of pesticides, fertilizers, GMOs, and other harmful ingredients.
Benefits for starting an organic catering business are plentiful. In starting, there are not many organic caterers in the marketplace currently. This allows for an entrepreneur to get a head start in the industry. A second benefit is that this type of business caters to a niche market. This, in-and-of-itself, allows for possible premium pricing. A final benefit is that organic foods are healthier for your customers. This shows that you, as a business owner, not only cares about profits but also for your customers health. From this, if you are considering starting a catering business, this is a great opportunity.
- Eco-Friendly Landscaping - Who does not love a beautiful, manicured lawn and shrubs? What if you have the same beauty in your lawn and do it eco-friendly? Not many organizations out there can satisfy both demands. However, with a carefully constructed business model, an eco-friendly landscaping company is possible. An eco-friendly landscaping company uses recycled material, drought tolerant plants, compost and artificial grass to create beautiful landscapes for the customers. So, if you enjoy the outdoors, and care for the environment, this may be the business for you.
- Eco-Consulting - A final business idea that may be trending in 2019 will be eco-consulting. Eco-consulting our business consultants that help businesses become eco-friendly. These actions may include choosing water saving plumbing equipment, helping businesses reduce their reliance on paper or find and implement other eco-friendly actions that are unique to their client’s business. If you thought your eco-friendly knowledge was only useful for yourself, think again!
In summary, caring for our environment is a growing trend not only for business but also for our consumers. This trend is so important to customers that they are willing to pay premium prices for eco-friendly services. Currently, eco-friendly business alternatives are sorely lacking in the marketplace. With this said, if you are considering starting a business, as most serial entrepreneurs always are, consider using eco-friendly as a differentiating factor. Not only will you be caring for the environment but premium pricing and increased profits are often just rewards for your creativity and services.
Thanks for reading Quality Business Plan's blog. What are your thoughts and/or experiences with an "Eco-Friendly" business? Please share your thoughts and experiences in our comment section below.
Author: Paul Borosky, Doctoral Candidate, MBA.