Business Opportunities And Working With Us

Foreign entry into the market has included both acquisition of existing companies and Greenfield start-ups. Recent listings of life insurers may create new investment targets. Given the impact of the global economic crisis on the industry, there will be limited demand for insurance products over the short term. However, the growth scenario will likely change over the medium term because of South Korea’s rapidly aging population. This creates ongoing demand for after-retirement protection products as well as health insurance products, including accident and illness as well as medical expense coverage. Segment your customers – divide your customer base into smaller groups that share common characteristics, such as age, gender, location, or lifestyle, attitude or purchasing habits.

Premium pet food is another booming area, with owners demanding personalised, high-quality products that fuel and excite their animal companions. Similarly, the country’s swelling pet population means very healthy prospects for the UK pet insurance market, and especially for businesses that can simplify and demystify a notoriously complex area. Keeping their pets safe and healthy is a top priority for owners, so it’s no surprise that vet tech is becoming increasingly sophisticated. Forward-thinking vet companies are now offering round-the-clock remote consultations, helping to address any worries and dragging a historic industry into the 21st century.

This is particularly true when it relates to the COVID-19 pandemic. In the 2020 GEM Adult Population Survey, both sets of TEA and EBO were asked if they agreed that they saw opportunities as a result of the pandemic. In all but a couple economies, TEA respondents were much more likely to see opportunities as a result of the pandemic. Which sector you enter and which trends you take advantage of will depend on your experience and knowledge, but our series of articles show that there are opportunities everywhere if you look closely.

It may be competitive, but if you have a set of skills you’ve built over the years, or even one you want to learn, there’s money to be made. In 2020, Shopify announced the launch of Handshake, a wholesale marketplace for retailers and suppliers alike. If you already sell direct-to-consumer, consider adding wholesale to the mix and increase your exposure to new markets. If you’re a wholesaler, spin up a direct-to-customer arm of your business to make up for sales that have been impacted by the pandemic. If you’re looking to start a profitable health or beauty business this year, consider the changing needs of consumers.

Securing too much new business, without being able to deliver on it, could put your company at risk. The benefits of buying a franchise is that everything is ready to go. The franchisor can also help with finding buildings, hiring and training staff, sharing advice on management and marketing, and more.