IRVINE, Calif., Oct. 11 // -- While time will only tell for sure, based on recent trends and statistics, the odds of survival for places like record stores, gay bars, used bookstores and coin-operated arcades are definitely grim. Entrepreneur.com takes a look at these and others in a list of 10 businesses facing extinction in the next 10 years.
"Knowing what's happening in different industries is no doubt part of being a successful entrepreneur," says Dave Pomije, VP of site development at Entrepreneur.com. "That's why we give our visitors a look at what's in store for some businesses, helping entrepreneurs plan for the future of their own companies and take advantage of hidden opportunities that come from foreseeing market trends."
The 10 businesses slated for demise include record stores, which may come as no surprise after Tower Records shut down all 89 of its stores just last year. The traditional record store is simply no competition for online music stores and chains like Wal-Mart, which can offer lower prices and offset smaller CD sales with other items sold.
Other businesses noted with the odds stacked against them may be a bit more of a surprise, including gay bars. As gay men and women continue to gain greater acceptance in society, what used to be hangouts for people who felt unwelcome elsewhere are becoming less necessary. But as with many industries, the very best will endure, and the rest will simply become a part of history.
In the video game industry, the Nintendo Wii, Xbox 360 and casual online gaming have helped create growth, but the same can't be said for standalone arcades. Ten years ago, there were 10,000 arcades in the U.S.; now the number is close to 3,000. Revenue has also dropped dramatically from $2.3 billion in 1994 to $866 million in 2006, with no sign of better times ahead.
To read about all 10 businesses facing extinction by 2017 and their odds of survival, visit http://www.entrepreneur.com/extinction.
About Entrepreneur Media Inc.
Entrepreneur Media Inc. is the premier content provider for and about entrepreneurs. Our products engage and inspire every day with the advice, solutions and resources that fuel the bold and independent way entrepreneurs think.
After 30 years, nobody reaches more growing businesses. As the original magazine for the small and midsize business community, Entrepreneur continues to be the definitive guide to all the diverse challenges of business ownership. Entrepreneur.com is the most widely used website by entrepreneurs and emerging businesses worldwide. Entrepreneur Press publishes the books that turn entrepreneurial skills into business success.
To learn more, visit http://www.entrepreneur.com.
To advertise, please contact us at http://www.entrepreneur.com/mediakit.