Last updated on October 12th, 2022 at 03:35 pm
Maryland is ranked as the most improved state for business among the 50 states in the U.S., according to CNBC 2021 report. The encouraging improvement was hugely due to the improved infrastructure across the 23 counties in the state including Baltimore City.
We will share with you lucrative business opportunities in Maryland that are worth your effort. They are top-notch business ideas that are always in demand.
Improved infrastructure has been one of the comparative advantages that is propelling investors and entrepreneurs to consider Maryland as an investment destination.
For an entrepreneur who is considering setting up a home-based business, there is a piece of good news: Maryland’s broadband is one of the best.
And you know how internet connectivity has become imperative to the way small business owners do business during and after the pandemic.
The state encourages unbiased tax policies and business-friendly regulations that have groomed small businesses over time.
Maryland has the 15th highest GDP in the nation. Another amazing fact about this state is that, in 2013, it was ranked by Forbes in 13th position in its “Best States for Business” report.
With these, your business could take advantage of starting a business in The Old Line State and thrive in Maryland as a small, medium, or large-scale business.
Business ideas in Maryland
Based on Maryland’s improved infrastructure, you can lay your hands on several startup business ideas in Maryland. Your strength and passion will also play a major role in making these opportunities successful. The following are some of the business opportunities in Maryland you can venture into:
Tour Guide Services
Maryland is blessed with a lot of attraction centres. Include Baltimore Inner Harbor, Deep Creek Lake Area, Fort McHenry National Monument, Ocean City Boardwalk, and Assateague State Park are some of the tourist locations that attract thousands of visitors every month to the state. This is another business opportunity for entrepreneurs in the tour guide service.
With tourism being Maryland’s one of the largest sectors, the state has significant sightseeing locations such as the beach, sumptuous foods, amazing culture, and a city lifestyle.
All these attract visitors in and out of the state. Therefore, you can offer touring guide services to these visitors and generate enough revenue.
Fitness Training Centers
The demand for fitness coaches/trainers and fitness centers has increased over time because residents are fully aware of the health risks (obesity, high blood pressure, etc.) of not being involved in exercise activities.
Therefore, you can invest in a fitness center serving as a service-rendering business. Training could be done in different forms: online, outside, or a rented space.
You can make money from any residential property you own by giving visitors the chance to lodge. Maryland is a state with high numbers of tourists trooping in, and they will need a place to stay.
You can start this rentable business and earn overtime. Adding extra services like breakfast offers can earn you extra cash.
This has proven to be one of the most profitable business opportunities in the state and the world. You can decide to start a restaurant or bakery by offering non-hazardous food items and snacks such as baked foods, candies, roasted coffee beans, and gluten-free foods. This will cater to tourists’ and other residents’ food needs.
Maryland attracts a lot of international visitors/tourists and business people who usually need the service of a translator.
Therefore, if you’re fluent in English and other languages, this is an opportunity for you to start a lucrative translating startup for personal, legal, and business settings.
With Maryland being a tech state, individuals that are tech savvy will always be in demand. You can start a business that renders tech-related services to people.
Small, medium, and large businesses in Maryland usually need the service of experts on how to close sales and attract new customers. You can venture and make money from this.
You can start an online business from the comfort of your home if you have a passion for writing. You can start with a minimal amount and blog about content people love to read.
If you can share content that solves problems and is able to attract thousands of readers within and around the world, you can make a recurring profit from your problem-solving blog post.
Laundry and Dry Cleaning Services
An average resident can conveniently afford a laundry and dry cleaning service. The laundry and dry cleaning business is a high-demand business that thrives everywhere.
With Maryland being the least state poverty rate in the US, you can be assured this business will thrive.
Daycare and Nanny Services
Busy homemakers and nursing mothers are usually willing to pay a good sum for quality care for their wards. This has made the demand for daycare and nanny services increase.
In this century, many businesses in Maryland now understand the value of online presence and promoting their image on the internet. This has put the services of experts in online marketing in high demand, such as copywriting, email marketing, social media marketing, search engine optimization, etc.
Data shared by the government of Maryland in 2016 showed 18.35% of residents are 60 years and above of the nearly 5.8 million people in the state.
It is projected that the number of senior citizens is expected to increase to 25.4% of Maryland’s projected population of 6.7 million by the year 2030.
By this projection, Maryland is likely to experience the number of senior citizens growing above a million, which means services surrounding senior care will be in high demand.
Therefore, businesses offering senior citizens products and services will thrive well. Such services include senior home care, senior transportation, senior errand services, and so on. These businesses will continually thrive for the next decade.
Animal Care Services
Rendering animal care services are among the profitable business opportunities in Maryland. Marylanders love pets like dogs, cats, etc.
Therefore, the need for animal care services is on the high side. You can establish a pet shop or pet clinic. You can also render additional services like pet training and exercising.
The need to wax away unwanted hair by people is on the high side. Rendering this service by opening a waxing salon in the ideal location will be a great opportunity to open a profitable business.
Baltimore, Germantown, Waldorf, Silver Spring and Ellicott City are some of the major Maryland cities where models are mostly located and could afford waxing services.
Every Marylander female, young or adult, will require a hair salon in one way or the other. You need to render premium hair services to your clients as that is the only way they can keep patronizing.
Choosing an ideal location is also important to your business survival, and this is just one of the profitable business opportunities in Maryland.
In the United States, Marylanders spend more money to treat themselves on services like massages. You can even decide to run a mobile massage service.
It would be best if you offered various products and services customers can choose from, such as hot stone massage, sports massage, aromatherapy, deep tissue massage, and so on.
You can decide to run an auto mechanic shop based on your skill level and professionalism. As long as the number of vehicles on the road increases daily, the need for a professional auto repair service will be in demand. It will remain ranked high on the list of profitable business opportunities.
The plumbing business is a thriving one in the US. In Maryland, the demand for plumbing services has always been high, and this makes it one of the most profitable business opportunities in Maryland. You can decide to start one today if you are trained and certified.
A large amount of Maryland’s population moves around annually, and with this known fact, which of the profitable business opportunities in Maryland is best suited to make money with it? Yes, a moving business.
You can create a team and establish a moving business. You can offer packing, loading, and driving services. People will require this service, and your service will be needed with proper marketing.
Commercial Fishing Business
By water area, Maryland occupies the 18th spot. And the state is well known for its richness in seafood in North America. Several species of fish available include blue crab, menhaden, striped bass, and oysters.
Fishing is one of the largest contributing sectors to Maryland’s economy. Of course, you can tap into the fishing farming business opportunity in Maryland.
You can decide to open your own fish business by exporting and selling to households, restaurants, and general customers in demand for this seafood. Another one of the most profitable business opportunities in Maryland available is the commercial fishing business.
This article has shed more light on various lucrative businesses in Maryland. Maryland is a blessed state in the US with several resources. Many of these businesses are in high demand, do not require high overhead costs, and easily attract visitors, investors, and customers. You can closely select any that works for you best for you.