Starting a brand-new business is often an exciting leap into the unknown. The idea of being your own boss, making a real impact, or simply doing something you’re passionate about can be incredibly motivating. But before you dive into your next venture, it’s vital to think carefully about whether your chosen industry has a bright future or is already on a downward slide. The world can change in surprising ways, and certain industries get left behind when newer, more efficient alternatives take over.
The trick is to look at trends and try to glimpse a few steps ahead. Technology, in particular, has made some long-standing business models obsolete. Large overheads, tough competition, or a dwindling customer base can all add up to an uphill battle. Below, we’ll explore five industries that, for one reason or another, might not be the smartest choice for a start-up these days.
Traditional Travel Agencies
There was a time when travel agencies were the one-stop shop for all your holiday needs. You’d pop in to chat with a helpful advisor, leaf through a glossy brochure, and pick out your dream getaway. Now, many people prefer to research and book everything themselves online. Flights, hotels, and package deals are often cheaper when sourced through comparison sites, which also let you read real customer reviews and check availability in real time.
This shift in consumer behaviour has led to countless high-street travel agencies closing their doors. Large chains and online booking platforms dominate, leaving smaller start-ups to compete on price, service, or niche offerings just to stand out. While there’s still a small market for bespoke luxury trips and group bookings (like destination weddings), you’ll need a unique edge to avoid being overshadowed by internet-based competition. For those thinking of going it alone as a travel agent, bear in mind that the overheads of a physical store, combined with the huge online competition, may be a recipe for disappointment.
Physical Casino Venues
For decades, physical casinos offered a sparkly, theatrical experience for anyone hoping to try their luck at the roulette wheel or slot machines. The idea of dressing up for a lively night out drew in crowds, and many people saw it as a stylish form of entertainment. However, online casinos have changed the landscape dramatically. Gamblers now have instant access to a vast selection of virtual slot games, poker rooms, and betting opportunities, all from the comfort of their own homes.
These online platforms usually operate around the clock, giving players the freedom to drop in whenever they fancy, without any travel or dress code hassles. On top of that, operating costs for physical venues can be enormous—staff wages, rent, utilities, and strict regulations quickly eat away at profits. New casinos online have none of those problems. While some grand casinos might still hold a nostalgic appeal or attract tourists, smaller start-up casinos could find it exceptionally tough to compete with the convenience and diversity of online gambling options.
Traditional Newsstands and Local Print Newspapers
The sound of a newspaper hitting the doormat in the morning was once a daily ritual. Newsstands dotted busy streets, selling everything from local papers to weekly magazines. Now, however, people tend to get their headlines via phones, tablets, and social media. Instant updates are available around the clock, and print circulation is in steady decline. Even major newspapers have struggled, migrating their content online to keep up with reader demand.
For someone looking to launch a local newspaper or newsstand, the hurdles can be tremendous. Printing costs, distribution, and the constant chase to stay current make this a tricky path. Also, there’s less patience these days for waiting until the next day’s edition for fresh information. Many readers want continuous news updates, which a daily or weekly publication can’t match. If you love journalism and reporting, you might be better off focusing on an online news blog or social media channels where costs are lower, and you can respond to events as they happen.
Physical Music Retail
Music lovers once flocked to dedicated shops to browse record or CD collections, discovering new tunes by flicking through album sleeves. The social aspect was part of the draw—chatting with staff who knew their stuff, listening to samples at listening stations, and taking home a cherished physical copy. But the explosion of streaming services has made that nostalgia less appealing for many everyday buyers, who can find almost any track at a moment’s notice without leaving the sofa.
While vinyl has enjoyed a modest resurgence among enthusiasts, the majority of listeners simply prefer the convenience of digital platforms. Operating a physical music store now often feels like stepping back in time. With rent, staff wages, and supply chain issues, it’s not easy to make enough profit to stay afloat. There’s certainly a small niche for collectors and serious audiophiles, but starting from scratch in this sector could be more of a passion project than a viable business with wide commercial appeal.
Independent Taxi Dispatch Offices
Before ride-sharing apps sprang onto the scene, a local taxi office was a lifeline for people needing a lift home from a night out or a ride to the airport. A quick call, a scribbled address, and you’d be on your way. Nowadays, travellers are used to tapping an app that immediately identifies their location, tracks the driver’s approach, and provides digital payment options. This convenience, combined with transparent fares and driver ratings, has revolutionised the taxi industry.
Starting your own taxi dispatch office comes with overheads like phone lines, radio systems, staffing, and the constant challenge of recruiting drivers in a market that’s increasingly drawn to app-based ride-sharing. Even if you develop your own app, you’ll be up against well-known international platforms. Unless you’re catering to an underserved niche—like non-smartphone users in a small town—it’s tough to beat the ease and reliability that big ride-sharing firms have come to represent.
Looking Forward to More Promising Paths
Anyone dreaming of launching a start-up faces a long and challenging road, but careful planning and a keen eye on the future go a long way. While sentimentality can draw us to the businesses we grew up with, it’s good to remember that the market doesn’t always share that fondness. It’s far better to channel your passion into something that’s likely to flourish in our increasingly tech-focused world.
Disclaimer: Gambling carries significant financial risks, is potentially addictive, and may violate laws in your area. Please gamble responsibly within your means, and ensure compliance with all applicable regulations before proceeding. This content is for informational purposes only.