A large portion of the world’s population is now made up of millennials – those born between the early 1980s and early 2000s. And, as this generation enters its prime working years, they’re reshaping the workforce – and the way businesses operate.
To stay ahead of the curve, many companies are starting to cater to the unique needs and wants of millennials. If you’re looking to start a business that will appeal to this demographic, here are seven ideas to consider.
A luxury co-working space
Millennials are known for their love of collaboration and desire for flexible work arrangements. So, it’s no surprise that co-working spaces have become increasingly popular in recent years.
While there are already many co-working spaces available, there is still room for luxury options that cater to millennials who are looking for a more upscale experience. These co-working spaces would offer amenities like gourmet coffee, on-site concierge services, and stylish workspaces.
A gun shooting-range
With more millennials living in cities than ever before, many of them are looking for ways to blow off some steam that doesn’t involve going to a crowded bar or club. That’s where a gun shooting range comes in.
Starting this business isn’t as complicated as you think. All you have to do is look for commercial gun range plans to help you turn your visions into reality. They can help you with everything from designing your space to choosing the right gun range equipment that will surely cater to millennials.
A wellness retreat center
Wellness is a huge topic of interest for millennials. In fact, it’s estimated that the global wellness industry is now worth $3.7 trillion.
With that in mind, it’s no wonder that many millennials are interested in starting or visiting a wellness retreat center. These centers would offer activities like yoga, meditation, and healthy cooking classes. Plus, they would use sustainable and natural materials to create a tranquil and relaxing space.
An online personal styling service
Many millennials are interested in fashion and style but don’t have the time or knowledge to put together a great wardrobe on their own. That’s where an online personal styling service comes in.
With this business, you would help millennials put together the perfect wardrobe for their lifestyle and budget. Plus, you can offer them advice on trends, dressing for specific occasions, and more.
A mobile app development company
As the world becomes more and more digital, businesses are starting to shift their focus to mobile. And, with millennials being the most tech-savvy generation, it’s no surprise that many of them are interested in starting a mobile app development company.
This type of business would involve creating apps for businesses of all types – from small businesses to large corporations. Plus, you can specialize in developing apps for specific platforms like iOS or Android.
A home entertainment company
Millennials are known for their love of entertainment. So, it’s no surprise that many of them are interested in starting a home entertainment company.
This business would involve creating and installing custom home theater systems, whole-house audio systems, and more. Plus, you can offer your clients advice on the best movies, TV shows, and music to suit their tastes.
A subscription box service
Subscription boxes are all the rage these days – and for a good reason. They’re convenient, affordable, and can be customized to fit your specific needs. And, with millennials always looking for new and innovative products, it’s no surprise that many of them are interested in starting a subscription box service.
This type of business would involve curating boxes filled with products that cater to a specific niche or interest. For example, you could start a subscription box service for makeup lovers, pet owners, or even new parents.
A few tips to remember!
While millennials are known for their love of technology, they also value experiences. So, when starting a business that caters to them, make sure to focus on offering an experience that is unique and memorable. Here are a few things you need to know about millennial consumers:
- They are always looking for new and innovative products
- They value experiences over things
- They are willing to spend money on quality products
- They are tech-savvy and always connected
- They appreciate companies that are socially and environmentally responsible
There you have it – 7 business ideas that cater to active millennials. If you’re looking to start a business that appeals to this demographic, then consider one of these ideas.
And remember, when catering to millennials, it’s all about offering an experience that is unique and memorable. Keep that in mind, and you’ll be sure to appeal to this growing demographic.