3. Business Coaching/Staffing
A growing industry, particularly as unemployment stays high and companies remain reluctant to bring on full-time help, is the staffing and temp employment industry.
"This is a business model that is going to grow," says Miller of The Entrepreneur's Source. "Companies are concerned with the new health-care laws ... and more companies are trying to do more with less" by employing part-time workers through temp or contract agencies.Related to staffing services, particularly as more workers strike out on their own, is business coaching services. There are several advantages, says business coach Rick Bisio, the author of " The Educated Franchisee." Low startup costs is the primary advantage. "Most business coaching franchises are less than $100,000 in total investment, which puts them squarely in the low-cost franchise category," Bisio says. The business also allows for a lot of flexibility. "If you are looking for a business where you do not have to hire a lot of employees and can completely control your schedule, then business coaching might be for you," he adds. "For those business coaches that are able to establish a strong, proven reputation and a solid stable of clients, the financial rewards can be substantial."