Looking for a business idea in a fast-growing sector? If so, you should steer clear of the industries below.
Sageworks has identified the industries that have experienced the slowest sales growth during the 12-month period ending October 23, 2015. At the top of the list is the Land Subdivision industry, comprised of companies dedicated to servicing land and subdividing real property into lots. Businesses in this sector have seen revenue contract 1.7 percent year over year. The bright side is, it’s the only private company industry in the U.S. seeing negative revenue growth over the past year.
When an industry experiences contracting sales, a combination of internal and external factors are likely responsible, says Sageworks analyst Libby Bierman. Business owners witnessing a sales slowdown should take a close look at revenue models to determine problem areas, like underperforming locations or product lines.
