10 Hot Business Opportunities for 2010

Wondering if this is a good time to start a business? Thinking of quitting the rank and file and joining the ranks of the entrepreneur? Well, you're not alone. According to Challenger, Gray & Christmas' job market index, 8.7 percent of job seekers started their own business in the second quarter of 2009.

Of course, if you're going to do it, you want to do it right, right? Here are 10 business trends for 2010, according to Entrepreneur Magazine:

1. Green power. Cleantech, including smart grid, solar, biofuels, and batteries, overtook IT and biotech to garner 27 percent of all venture capital in the third quarter of 2009, according to Cleantech Group.
2. The senior market. According to the U.S. Bureau of Labor Statistics, three of the top 10 industries with the fastest employment growth relate to "aging services," including healthcare, elderly and disabled services, and community care facilities for the elderly. USC even has a new master's program in aging-services management.
3. Discount retail. At Wal-Mart, dollar stores, and resale shops, business is booming. While sales at Neiman Marcus dropped 14.8 percent, Family Dollar had record profits of $291.3 million in 2009. And according to the National Association of Resale Professionals, sales at secondhand stores grew by 31 percent last year.
4. Local business. The Department of Agriculture says that farmers markets have seen 5 percent annual growth for the past five years. Major chains are introducing "Locally Grown" sections to their produce departments and the USDA recently launched a "Know Your Farmer, Know Your Food" marketing campaign.
5. Education. There's no better time to retrench or reinvent yourself than a bad economy. Revenues at institutes of higher education are expected to grow 4.9 percent to $421 billion in 2010, according to IbisWorld.
6. Parental outsourcing. The new name for childcare, housecleaning, and other domestic services, "parental outsourcing" is booming. And revenue for tutoring, test prep, and driving schools is expected to increase to more than $7 billion in 2010. Likewise for sports coaching.
7. Health and wellness. Revenues from healthcare and social assistance grew 3 percent to $452 billion during the second quarter of 2009, according to the U.S. Census Bureau. And the Home care industry grew 7 percent annually over the past five years, according to IbisWorld.
8. Texas. The Wall Street Journal named Austin and Dallas top "Youth Magnet" cities, and Texas cities dominated a host of 2009 "best cities" lists for relocation, home-building, and job creation.
9. Affordable alcohol. We're still drinking just as much, if not more, we're just drinking lower-cost booze and we're doing it at home. In any case, the alcoholic beverage industry is expected to see record revenues of $455 billion in 2009.
10. Pets. Americans spent $43 billion on pets in 2008, and that number's expected to grow by 5 percent for 2009.

On the same subject, check out:

• The Next Decade's Top 10 Growth Industries
• 10 Reasons Why This is a Great Market for Entrepreneurs
• Is This Really a Good Time to Start a Busines