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5 Business Fads That Are on Their Way Out

Owning of a fad business could diminish your entrepreneurial spirit, but there are ways of bouncing back. Here are the business trends that entrepreneurs think will die off in the coming years, and how they can be adapted to fit the changing market.

Subscription services are all the rage right now, but Jeff Neal, creator of a mud-run series turned project manager and estimator, said box subscriptions — a business where a company sends subscribers a curated box of items every month — will taper off because they are more interesting than practical. Over time, he said, you will end up with way more of a certain product — like coffee, wine or cleaning products — than one person could possibly need or use.

If you run a box-subscription company, you might want to consider finding a “common denominator” with another type of business and adapting, said Neal. For example, you could branch out into retail sales: Subscription services like Julep (cosmetics) and Blue Apron (meal ingredients) allow subscribers to skip their monthly deliveries and instead purchase related products individually from the service’s websites.

The trend of e-commerce “daily deal” websites hit complete market saturation in 2014, said Mike Catania, co-founder and CTO of savings communityPromotion Code. However, with so many ties to small business communities, daily deals sites could easily morph into location-based apps that curate retail deals nearby, he said.

“Entrepreneurs in the field could also diversify by moving into the popular rebates arena, as they likely have significant amounts of purchase data from their existing daily deal customers,” Catania added.

The emerging information about the dangers of UV tanning has decreased the demand for traditional tanning beds. However, it is possible to stick with the tanning business and remain profitable, said Eric Anderson, CEO of Unlimited Tan. Switching the focus to spray tanning can increase business and even bring in a whole new clientele that would normally not visit a tanning salon.

“Adding a spray booth or custom spray tanning is a must to adapt to the changing needs of your customer base,” Anderson said. He added that creative marketing and partnerships will keep customers engaged.

Although the teeth-whitening market has been alive and well since the days of the ancient Egyptians and Romans, today’s health-conscious consumers are wary of modern methods like bleaching and laser treatments. Max Robinson, owner of Teeth Whitening Belfast, said he does far less traditional laser teeth whitening than he used to do, because most of his customers are now looking for natural treatments. As a result, he has had to diversify his business, he said.

“We use a lot of coconut oil, charcoal and baking soda, and provide different [whitening] treatments,” Robinson said.

Pokémon Go was without a question the most popular new app this summer. But how many people do you know who still play the game regularly? AJ Saleem, academy director of Suprex Learning Houston, said he expects gaming apps capitalizing on nostalgia to die off in the coming year, if not sooner, because the games eventually lose their popularity (again).

“There are definitely ways to prolong its popularity, such as adding new additions and updating, but eventually the game will die out,” said Saleem. “Those popular games aren’t meant to last forever.”