Big Profits Ahead
Finding a growth industry is key when starting a company, but don't discount the sector's profit potential. Inc. asked research firm IBISWorld to find industries that are growing and have healthy profits. The best of the best follow.Real-Time Traffic Information Providers
With average profits of 18 percent, this industry is thriving on more and better mobile connections that allow us to check traffic anytime, anywhere. New competitors will service smaller towns and incorporate more detailed data.Snack Food Production
Profits in this industry average about 15 percent. As long as disposable income stays strong, says IBISWorld, there's room for new businesses to sell premium snacks and produce new ones using less-traditional ingredients.Internet Publishing and Broadcasting
IBISWorld finds profits in this industry averaging 24 percent. In addition to ad- and subscription-supported content, business models include intellectual property licensing and the sale of user information to third parties.Financial Data Service Providers
Providing market data to financial firms, traders, and investors yields average margins of about 21 percent, IBISWorld finds. Most of the industry specializes in real-time trading data, but there are also opportunities in portfolio analytics, research, and reference data.Telehealth Services
The business of connecting patients, caregivers, and health educators online delivers an average profit of 17 percent. Opportunities include real-time patient monitoring, videoconferencing, and technology to store images and video for remote access.HR and Payroll Software
This industry includes software used in everything from recruiting to benefits to learning management. Successful companies have 29 percent margins,as well as healthy growth due to the industry's transition to the software-as-a-service model.
NOTE CREDIT: The 6 Most Profitable Industries for Starting a Business in 2016 | Inc.com