Nicknamed The Prairie State, Illinois has over a million small businesses and more are still being conceptualized and launched into the market, thereby easing the pressure that would have been created by the rate of unemployment.
According to BLS, the top three dominating sectors by total employment are manufacturing, real estate and rental and leasing, finance and insurance.
In terms of states that provide opportunity, US News ranks Illinois no. 12. And Illinois is ranked in the fourth position for best state for business owners by Looka.
In case you want to be part economy of Illinois, below are a few businesses you can start in Chicago and other cities across the state:
Food Truck Business
From 2020 to 2022, the revenue from mobile food services in Illinois grew from $18.97 million to over $29 million at the time of this report.
It is projected that the sector would generate $38.81 million in revenue, according to statista.com
The popularity of the mobile restaurant industry is rising rapidly in Illinois. If you want to go into the food business but don’t want to spend the money on a physical location, this is a great option.
You can attract more customers by serving major cities like Springfield, Chicago, Aurora, Rockford, and Joliet to signature dishes like deep-dish pizza, Italian meat, Gyros, etc.
Entrepreneurs with access to power washing equipment are often sought to remove stubborn grime from barnacle-covered boats and canoes, muddy trucks, and oily driveways.
Therefore, you can get into this line of service if you have the capital to purchase the necessary power-cleaning equipment.
Starting a power cleaning service requires a sizable initial expenditure, most of which will go toward buying the necessary equipment.
Your service will be needed by homes that do not want to buy their own power washing machine. There are 5.4 million housing units in Illinois, this is a business opportunity because some homes might need your service.
Yacht Renting Business Ideas in Chicago
On average, it cost $1,100 to charter a yacht in the flamboyant city of Chicago. Another report by World Wide Boat says it is highly profitable to start a yacht renting business. Several canals in Chicago are suitable for boating.
Yacht rental is a business that can be started by anyone who has the capital to acquire a fleet of yachts. Starting a yacht renting service in Chicago is one of the most profitable business opportunities in Illinois.
If you are considering this investment in Chicago, Galati Yachts says the range of 50-70 feet costs at least $300,000 USD and could be up to $5 million, depending on the buyer’s criteria.
Besides, out of the total area of The Prairie State which is 57,914 sq mi (or 149,995 sq.km), 6,202 sq.km of it is covered by water. So, there is enough area to cruise.
Tour guide agency
The modern traveller wants nothing more than to relax and have fun without having to worry about the finer details of getting from point A to point B.
The business could be ideal for you if you have a passion for travel and a knack for organizing vacations.
Annually, tourists bring in roughly $30.7 billion to Illinois’ economy, a press release by the Illinois government says in June 2011. Over 303,500 people are employed in the state’s tourism industry, making it a promising source of revenue.
Numerous corporations, both domestic and international, call Illinois home. To put it another way, when you start a placement or recruitment firm, you charge people to assist them find suitable employment.
You’ll also aid enterprises in their search for new employees. There will always be customers looking for work or interested in making a career change.
Elder Care Business
One in six residents of Illinois is 60 years and above, a survey by lib.niu.edu says. This a business opportunity for those who care about the well-being of old people.
It may be challenging taking care of the senior citizens, but those who understand that they would be in their position one day, would definitely enjoy making them feel right at home.
Render Taxi Service
It’s necessary for many people to move about in major cities in the state. Taxis and cabs are the most popular means of transportation for this purpose.
If you have a solid driving record, you can begin this position. Apps for mobile devices are very widely used today. That being said, you can also get going as an Uber driver.
You can turn your talent for making crafts and similar items into a lucrative business. You can take your handiwork to any of the many expos taking place across the state.
Making money from your handiwork is possible if you have specialized skills in a field such as ceramics, basketry, weaving fabrics, tatting, macramé, and so on.
Depending on your preference, you can either take on one class at a time or all of your students at once.
Providing Baby-Sitting Services
Whether you’re a student, a stay-at-home mom, or something else entirely, you may start a babysitting business by offering your services to working parents who otherwise would have to find someone else to watch their children during the day.
If you find that you’re very good at taking care of kids, you can always open your own daycare service after obtaining the license and permit to operate in your county.
Meal planning service
If you have a passion for working with food and enjoy helping others organize their meals, this could be the perfect career path for you.
The need for meal planning services is high, and you can cater to a certain demographic by offering paleo or vegetarian menus. Focusing on those who have dietary restrictions because of health problems is another option.
Patients with certain conditions, such as diabetes, obesity, or ulcers, can benefit greatly from this service.
If you want to run this company successfully, you need to know exactly what goes into food and what benefits it provides. This is yet another important enterprise that can be conducted without ever leaving home.
Illinois offers a wealth of business possibilities to anyone with the initiative to go out on their own and establish their own business.
You can take advantage of the above business ideas in Illinois and turn out into an employer and also gain access to some of the business incentives and tax credits that are provided by the state.