5 Businesses to Shy Away From Opening in 2014

Times, they are a-changing for the business world. Companies that were sure bets 20, 10, even 5 years ago are now high-risk ventures with a very low probability of success.

What are a few of these avoid-at-all-costs businesses, and why are they doing so poorly?

Here's some information on five of them:

1. Travel Agency

Once upon a time, your friendly local travel agent was the go-to source for travel packages and deals.

Planning a trip on your own was a time-consuming and often costly affair, requiring several long-distance phone calls (no cell phones with free long distance, either).

Now, websites like Orbitz and Expedia let consumers plan their own trips and search for their own deals. They can even deal directly with airlines and hotels, all from the comfort of their own computers. While some still visit travel agents for a more personal touch, the business model is fading fast.

2. Retail Clothing/Shoe Store

Having closed 135 stores between 2010 and June of 2012, clothing retail giant Ambercrombie & Fitch announced another round of closings to total 180 additional stores.

Fashion Bug closed all of its stores and shut down entirely earlier this year.

With even large, national clothing retailers unable to gain or maintain traction, the clothing market is a poor choice for a startup.

Many consumers have taken their shopping online. Some will even try on items in local stores, and then make their purchases online to take advantage of discounts or secondhand deals.

3. Distribution Company

The middleman of the retail world, the distribution company is also facing hard times. Once again, the internet is the major culprit, allowing consumers to buy direct from manufacturers.

One way to make a distribution company successful is to add value that manufacturers can't or won't match.

For example, you could add setup service for the products to make them more usable to end customers. But straight distribution is on the decline.

4. Brick and Mortar Bookstore

Here, too, even the big guys are faltering. Borders shuttered the last of its stores in 2011.

Barnes & Noble, currently the largest book retailer in the United States, announced in January that it plans to close 20 stores per year for the next decade, reducing its total chain size by a third.

While the rise of the eBook may not eliminate the physical book market entirely, it's making enough of a dent to make brick and mortar bookstores a losing proposition.

5. Video Store

The heyday of video rental stores is long past, with Netflix and Redbox leading the pack of competitors taking away market share.

With consumers now able to stream TV shows and movies directly to their computers or televisions, video rentals are no longer a viable business option.

These are just a few of the businesses to steer clear of when planning your new startup.

Your best bet for finding a profitable niche in your area is to do thorough market research -- and offer valuable services that online competitors can't match.