Look in leaves and see . . . tea

07/14/02
Brigham Young University
By By Joseph Walker Printed in the Deseret News

Tea is hot. So are chocolate cafes. And if you can figure out a way to mix do-it-yourself meal preparation with surveillance cameras, you may be absolutely - as they say on SportsCenter - "en fuego."

These are all among the "29 Best Business Ideas for 2006," as identified by the staff of Entrepreneur magazine in their December 2005 issue. Every year about this time the magazine's editors and writers compare notes on the latest consumer and business trends and look at emerging industries. Then they compile a listing of what they think will be the best ideas for new businesses for the coming year.

And evidently, they know what they're talking about. During the past few years they've been remarkably accurate in predicting the rise of instant messaging, bottled water, online gaming, home improvement and adult day care. They even predicted the explosion of mall and shopping center kiosk businesses that you'll be stumbling over and around during the holiday shopping season this year.

Which is why you might want to pay attention when this year they look into the entrepreneurial tea leaves and see . . . tea. According to Entrepreneur.com, the magazine's Web site, "However you stir it, teas are exotic, enticing and steeping in opportunity."

The Entrepreneur staff predicts big things for bottlers of ready-to-drink red, green and white specialty teas as well as for trendy tea shops featuring specialty teas.

If tea isn't your cup of . . . well . . . tea, the magazine staff also predicts big things for Internet businesses featuring specialty foods like gourmet cheeses and diabetic-friendly products. Do-it-yourself meal preparation, an innovative idea that allows customers to prepare a month's worth of dinners in one two-hour cooking session, also looks like a winner in 2006. And Entrepreneur thinks you'll be seeing some successful one-product restaurants (like P.B. Loco in Minneapolis, which specializes in - I'm not kidding - peanut butter) and chocolate cafes springing up around the country during the coming year.

"Step aside, Starbucks," Entrepreneur exclaims. "Caffeine buzzes may be no match for sugar highs."

In addition to food-oriented businesses, the magazine sees significant opportunities opening up in the area of security. Shredding, ID theft prevention and recovery, data backup and surveillance cameras are all viewed as possible breakthrough businesses for 2006. Similarly, home staging (showcasing a property so it appeals to buyers) and retrofitting homes for senior living look like intriguing new opportunities, and tying into the exploding mobile marketplace with add-ons (radio, TV and GPS services) and aftermarket accessories (like personalized peel-and-stick skins) may prove to be incredibly lucrative.

Technology consulting, staffing and high-tech recycling (what DO you do with an old laptop, anyway?) are also high on the list of visionary business ideas for 2006, as well as a whole host of goods and services aimed at kids, tweens and teens: educational products and services, cooking for kids, hair salons specializing in kiddie cuts and "tween tech" (stripped down versions of cell phones and laptop computers for youngsters).

The possibilities, it seems, are endless.

"Choose an adaptable product, find a niche, and get to know as much about the product as possible," said one of Entrepreneur's experts. "You have to be an expert in a particular area. But if you pick the right area at the right time, there's no telling what could happen."

Tea, anyone?
author1 is associated with the BYU Center for Entrepreneurship. He can be reached via e-mail at Mr. Walker is associated with the BYU Center for Entrepreneurship. He can be reached via e-mail at cfe@byu.edu. .