Many people like to argue that traditional brick and mortar businesses are dead or dying out thanks to the digital marketplace. The truth is that in a stabilizing economy, there are many businesses for sale in Washington State which, when combined with an e-commerce website, can still generate great profits. Here are a few untapped markets to think about when buying retail property:
1. Relaxation Beverages
Many people associate Seattle and Washington State with coffee, but there is a growing trend of relaxation beverages, which are the opposite of energy drinks and intended to help with insomnia. They estimate a growth of 12 percent in the market in the next five years. Setting up a relaxation beverage shop can provide a great alternative to yet another coffee shop and provide a soothing place for people to unwind.
2. Legal Marijuana
While still a controversial area, attitudes to recreational drugs are changing and they are starting to become legalized in many states, including Washington. This combined with many businesses for sale in Washington State means it is a great time to jump onto the bandwagon and come up with some innovative ways to sell the product. CNN estimates that it could become a $36 billion a year industry.
3. Solar Power
The transition into renewable power, particularly solar, is also picking up in speed as technology improves and becomes more affordable. This makes it an ideal time to tap into the market and help to improve the environment at the same time.
Rather than give up on brick and mortar businesses completely, retailers should instead be thinking of new and innovative ways to make them turn a profit. Tapping into these and similar potential markets is the right way to do so. Contact a retail broker today to see what is available.
