Last updated on October 7th, 2022 at 06:31 pm
Apart from the booming real estate investment, Texas second-biggest economy among the 50 states that make up the US.
Someone who has not taken the time to dig into the economic prosperity of the state might be wondering why new small businesses are being established in the state.
In this post, we’ll take you through the top profitable business ideas in Texas that are worth your investment and effort.
For the record, the Gross State Product (GSP) of Texas was $2 Trillion USD as of 2021, making it the second biggest economy in the U.S. Thanks to the exploration of more than two dozen mineral resources found in the state.
Of course, Texas would be the ninth biggest economy if it were to be a country. Impressed by the economic performance of Texas, the President and CEO of the Texas Economic Development Corporation, Robert Allen, didn’t mince words when he was quoted by businessintexas.com as saying:
“This is more than just a statistic. The fact that our state, if it were a nation, would be the world’s ninth largest economy shows that Texas is well positioned to outperform economically, regardless of the challenges that may lie ahead.”
This intro isn’t to impress you, but to prove to prospective entrepreneurs why they need to take action by implementing the business ideas they’ve had in mind for some months.
Business Opportunities in Texas
Some of the sectors you can invest in or do business in the U.S’s largest state by population include mining, construction, manufacturing, education, trade, travel, tourism, transportation, utilities, financial activities, business services, health, and hospitality.
Below is a list of profitable business opportunities in Texas if you want to make transform your ideas into revenue-generating ones.
For a long time, investment in property has been one of Texas’s most profitable business opportunities. Good and affordable accommodation is essential to people who live in the state.
Texas is one of the U.S states where the cost of living is high, especially housing, however, this also presents a great investment opportunity for an investor and investing in the Lone Star State‘s rental property is worth it.
According to Zillow, the home value of homes in the state is $315,235 and research has shown that it has gone up more than 20%.
The real Estate business is lucrative everywhere, and Texas is no exception. You can venture into this business once you have the license and financial capacity.
Better still, you can start off as a real estate broker and get a commission from your sales.
You may have heard about popular coffee shops like Starbucks, Shipley Do-Nuts, West Oak Coffee Bar, Dunkin’ and Minuti Coffee all in Texas, it isn’t hype. Coffee service and business is a lucrative in Texas.
To know how the coffee industry is growing, Starbucks has 1,287 locations across 222 cities, in a list complied scrapehero.com.
This business isn’t saturated. As such, you can create a coffee shop in the busy cities of Texas, such as Dallas, as it is a common habit for everyone to stop for a cup of coffee in the morning or during break times. You can add innovative ideas to attract the people of Texas.
It is a normal culture to give people gifts, and it never goes out of style. Gifts play a significant role throughout the year for different occasions. You can establish a gift shop in an ideal location with items that cater to people’s needs.
Starting a fitness center is a good option if you are already a fitness trainer. Venturing into this business is a good decision as spreading health risks such as Obesity is on the high side.
Therefore, you can get a fitness certification to get started. You can set up a gym or an outdoor space for fitness training.
If you enjoy cooking, the mobile food truck is an easy way to start up if you don’t want to dive into starting renting an apartment from your restaurant.
It is more convenient and easy to maintain. All you need to do is buy or hire a truck and start moving around busy areas in Texas. A new business owner can start this business after getting the necessary licenses.
Tourism is one of Texas’s top industries. The state is blessed with attractive tourist centres. San Antonio River Walk is the most popular among the numerous tourist attractions in Texas.
They all attract internal and international tourists. Setting up a tourism agency that will render tourist services will improve your income. This is among the most profitable business opportunities in Texas.
Gadgets and electronics in this century keep increasing; of course, they will likely break down at some point. People are searching for experienced and affordable repairers.
Therefore, if you’re good at repairing gadgets like smartphones, laptops, tablets, and so on, starting a gadget repair business will go a long way in fetching you good money. You can also hire more certified technicians.
Many people are too busy to clean, and some even find cleaning stressful. People in Texas usually require cleaning services from time to time, such as general home cleaning.
You can start a cleaning business with less capital. All you need is to invest in cleaning supplies and equipment and hire team members for assistance with time as the business grows.
The demand for professional daycare increases every day. Most busy couples, nursing mothers, and working wives find it pleasing to leave their wards with adequate care and are willing to pay the required sum.
Therefore, if you are passionate about children and education, you can open a licensed daycare center. Also, ensure you follow the state requirements for childcare.
There are procedures to register as a daycare in the U.S. You must also follow the applicable regulations set by the government of Texas.
After registering your daycare service, another best place to showcase your services is daycare.com where you only need $9 registration fee for an opportunity to get found by millions of parents who search for daycare every month.
People in Texas also love their pets and usually spend a huge amount of money on caring for these pets. You can therefore render several services like pet grooming, pet daycare, etc.
You can own a pet store and render pet-related services at your convenience. You can also sell pet-related products.
Opening a fast food restaurant is one of Texas’s most profitable business opportunities. You can buy into a franchise or establish your brand.
Food is a thing people cannot do without every day; therefore, you can rest assured the business will groom if you strategically locate and market your business well.
You can start a tutoring business in areas or fields you are good at. People are usually willing to pay for knowledge. Depending on the agreement, you can visit your clients or have them visit you. You can set up an entity by complying with state tax regulations.
You can decide to start up a barbing salon or beauty salon if you are in the hairstyling industry. In Texas, people love to demand professional services, thereby the need to provide professional services in an ideal location.
If you are experienced in digital marketing, you can start an agency that helps companies in Texas promote their products and services online.
This could range from email marketing to running their social media platforms. Although saturated, you could meet local businesses in Texas and help them out. This is still one of the most profitable business opportunities in Texas.
Laundry is a lucrative business that scales throughout the year and worldwide. Several people in Texas do not have the time to do their laundry and are always willing to pay for a service provider that can help. You can start a dry cleaning business with little capital.
You can start up your legal consultancy service if you have experience in law, as legal professionals are in high demand in Texas in handling law-related matters.
Texas is close to the US/Mexican border, meaning that there is always a high influx of illegal immigrants into the US. Immigration law is one of the most profitable business opportunities in Texas.
There is no shortcut to the legal profession. If you are not a lawyer, you can’t provide legal advice. You must also specialize in a specific field to provide highly-rated legal advice.
The growing population of the aged requires the use of facility centers. The business of the facility center has a bright future as the United State Census Bureau has estimated that by 2050, about 20% of the population will be aged 65 and more.
“In 2050, the population aged 65 and over is projected to be 83.7 million, almost double its estimated population of 43.1 million in 2012,” says the report.U.S. Census Bureau
Starting an online business is one of the easiest things to do from the comfort of our homes. All that is required of you is to have a good Internet connection and computer.
Several people in Texas make money by rendering different online services, such as selling products online.
If you don’t have the finance to manage an online marketplace, you can promote other people’s products online and get a commission from the sales. It is a small business idea that needs little money. Your smartphone and data can do the magic. And it’s a completely home-based business.
Recycling services have been in high demand in Texas for so long, and it is one of the most profitable business opportunities in Texas. You can set up a recycling plant and process used materials such as bottles, papers, plastics, glass, etc.
You can sell the processed usable materials to manufacturers and other potential buyers. This business contributes greatly to the cleanliness of the environment.
Experienced individuals in the recruiting industry can start a recruitment agency as small and big companies are always in demand for recruiting employees. This is one of the startup business ideas in Texas that you can start remotely.
Apart from real estate investments that require some bulk, other business opportunities in this article require little capital to start and are usually in demand due to the population.
- Zillow. “Texas Home Values”. zillow.com
- Jennifer M. Ortman, Victoria A. Velkoff, and Howard Hogan (May 2014). “An Aging Nation: The Older Population in the United States”. census.gov.