5 Best Sectors for New Businesses - Start Something New in LA

Are you thinking of starting a new business in the city? Well, if you’re not currently decided on the direction of that business and the world is your oyster, then take a look at this list of five biggest industries in Los Angeles right now.

These are the most profitable and the most successful businesses around. They are all in the midst of their golden age and there has never been a better time to jump on the bandwagon. Just make sure you’re quick, because it’s only a matter of time before “great opportunity” becomes “overly competitive marketplace”.

Law Firms

Big cities always need good lawyers and that’s especially true in Los Angeles. With a rich populace, a litigious culture and a state that tops lists of the highest crime rates, it’s a necessity that will always find a home.

If you can establish a law firm that is run by competent, professional attorneys and you can make sure they specialize in many different areas, from niche roles like ZPIC audits to criminal law, divorce settlement and more, then you’ve managed to tap into one of the most lucrative parts of the LA professional scene.

Cemeteries and Funeral Homes 

Death will always be big business

Death and Taxes, the only certainties. You can’t profit from the latter, but you can get involved with the former. This is one of the most profitable businesses in the state, taking advantage of an aging population and the fact that there will always be a need for the services on offer.

What’s more, as more people opt for alternative burials, including earth friendly burials, cemeteries and more, it’s a market that offers growth and allows for creativity. It’s morbid, we get it, but it’s something that we will all face and without funeral homes there would be no one to console the grieving families, no one to make the wishes of the dead come to fruition.

Shoe Stores

It may not sound like an obvious inclusion but some of the biggest shoe brands in the country have gotten their start in the state of California and LA is obsessed with the latest sneaker trends and the most fashionable footwear.

There are more than 3,000 shoe stores in California, so there is plenty of competition, but if you have something new to offer and something a bit different to do, then this is the place to do it. In LA the weird and the wonderful is always embraced, especially when you add that to everyone’s favorite fashion item.

Beauty Services

It’s true, in LA we are a little more vain and a little more beauty centric, but that’s the society we live in and that’s what life in the city of Angels is all about. This obsession has spilled over from Tinsel Town and washed through millions of California natives. There are many ways to take advantage and jump onboard the bandwagon and you don’t need to have any expertise in plastic surgery.

Everything from hair salons and nail salons to tattoo parlors and tanning servings are big right now and have been for awhile. It is an industry that is always growing, an industry that doesn’t require huge capital to get involved.

So, join the beauty revolution today!

Teaching

We’re all hungry to learn in this city. Whether it’s families of immigrants looking to teach their kids English, or parents who want to make sure their young ones get a start with a musical instrument, there is a wealth of money to be made and you only need a skill, a base and a little advertising to get involved.

You can do all of that as a freelancer, showcasing your services through local classifieds and even branching out to the world through sites like Upwork and the many Upwork alternatives. The money is good, you get to choose your own hours and you can sleep soundly knowing that you’re helping the next generation to learn and thrive in this competitive world.

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