5 High-Growth Markets Where You Can Build Substantial Wealth in 2026

5 High-Growth Markets Where You Can Build Substantial Wealth in 2026
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5 Local Business Opportunities That Could Make You a Fortune in 2026

Market data shows 2026 will be a breakout year for service-based local businesses. Here are five high-growth industries set to dominate North America next year.

By Fahim Ludin • edited by Chelsea Brown • Nov 12, 2025

Opinions expressed by Entrepreneur contributors are their own.

This article is part of the America's Favorite Mom & Pop Shops series. Read more stories

Key Takeaways

  • Service-based local businesses are thriving, and those that combine innovation, data and customer trust will win in 2026 and beyond.
  • Five local business sectors are poised for explosive growth across North America in 2026, including home improvement and renovation, pet care and mobile grooming, smart-home installation and more.

As the North American economy continues to adapt to post-pandemic consumer habits, one clear trend stands out: Service-based local businesses are thriving. Homeowners, pet owners and health-conscious consumers are spending more than ever on convenience and quality.

At the same time, technology and AI are reshaping how local entrepreneurs attract customers and operate efficiently. As this Entrepreneur article on AI and marketing explains, “AI won’t replace marketers; it will replace bad marketing.” The same logic applies to local services: The businesses that combine innovation, data and customer trust will win in 2026 and beyond.

Below are five local service business ideas backed by real market data that are poised to grow rapidly across North America in the coming year.

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