Here are five businesses that may be challenging or less viable in 2024, based on industry trends and market conditions:
- Physical DVD/CD Rental Stores: With the rise of streaming services like Netflix, Hulu, and Spotify, physical media rental stores have become less popular.
- Travel Agency: Online booking platforms and travel websites have made it easier for people to plan and book trips without the need for traditional travel agencies.
- Print Media (Newspapers, Magazines): The shift to digital media and online news sources has reduced the demand for print media.
- Landline Phone Services: The increasing use of mobile phones and VoIP technology has reduced the need for landline phone services.
- Cash Advance/Payday Loan Services: Stricter regulations and increased scrutiny of predatory lending practices have made this industry less viable.
Keep in mind that while these businesses may be challenging, innovative approaches and adaptations can still make them successful. It’s essential to research and understand your target market and industry trends before starting any business venture.