Last updated on October 13th, 2022 at 05:56 pm
There are many reasons for entrepreneurs to kickstart their small businesses in Utah. One, there were 313,590 small businesses in the state that was responsible for 606,609 job creations, according to the U.S. Small Business Administration in its 2021 report.
Two, several times, the Beehive State was ranked the Best State for Business in the U.S by the American business magazine Forbes. The state also holds a AAA bond rating from three agencies, justifying why business owners are willing to incorporate or extend their business branch in the state.
Utah quick stats:
- Ranked no 1 state economy in WalletHub’s 2021 ranking
- Sits on the no. 4 position for millennial business owners among the 50 U.S states
- It has a diversified economy cutting across tourism, agriculture, mining, finance, and information technology
- It is among the 12 best states for business owners as per Looka.com ranking
- Forbes ranks Utah no. 1 in U.S states with the biggest
- In Utah, the unemployment rate stands at 2.0% compared to Hawaii’s 4.1%
- The median household income is $60,365
And not forgetting its business-friendly legal climate title, this article focuses on the best small businesses in Utah for those who are looking for a conducive environment for entrepreneurship opportunities.
Professional, scientific, and technical services; Real estate, rental, leasing and Retail trade are the five industries that have the highest number of small businesses.
With its business-friendly environment, below are the unique business ideas for aspiring entrepreneurs:
In 2020, the National Association of Realtors survey reveals that between 2000 to 2020, 368,561 homes were built in Utah, accounting for 32.5% of all homes in the state.
Interestingly, single family attributed for 74.3% of the new homes and making Utah the 2nd highest percentage of homes built since 2000.
The data from the National Association of Realtors is significant for those who want to start offering house painting services.
Why not create a suitable business location and get quality painting materials and qualified workers to help? The business would require an individual to have the right skills and experienced personnel.
To start this business, you would need to register your business name, a Federal ID, a State ID, your EIN (employer’s Identification Number), and a sales license. After this, you would need to get a suitable location, or you could run a one-person show. That’s how easy it is to start a business in Utah.
According to Pawlicy, 58.5 % of Utah households own a pet. This is your target audience, and you can start small by offering services to friends and family before extending to other customers.
Running ads on social media platforms is one way to acquire customers, and by offering a guide on how some pet-related problems.
Tutoring business is an excellent option for an individual who intends to start a business in Utah. You can advertise your business online while making your potential clients know the specific field of study in which you specialize.
Solving other people’s problems is a big business apart from the smile you put on the faces of people around the world.
There is a constant need for cleaning personnel, given the massive amount of busy individuals residing in Utah.
An individual can start a cleaning service business and suitably meet the demands of diverse clients. It’s a great business which can see you raise high amounts of money.
Another business idea an individual can consider is an eBay sales business. One can quickly start this business by setting aside what they don’t need.
After that, they can enlarge their market range, purchase cheap items and then sell on eBay.
A grocery delivery business is a lucrative business one can consider. This is a profitable business especially after the pandemic when patronage of home-delivery services skyrocketed.
One would need to get a car and meet customers’ grocery needs. It’s profitable if one focuses on a limited area within Utah before expanding.
Utah is one of the states that receive a lot of tourists in the US, and this is due to the position of the state geographically on the map.
This has made it a popular state for the “Bed and Breakfast business,” which anyone can easily engage in. To start, all you need is an extra room you can offer travellers.
Social media management is one of the most popular types of business globally. Every business around the world knows that it can reach millions of users.
One can suitably advertise and promote the products or services of various companies on different social media platforms. This specific business is very lucrative and demands lesser startup capital.
If you are an expert or have knowledge on a specific field and can suitably offer advice, you can establish a consulting business.
What makes consulting service a lucrative one is that entrant in a specific field would need the guide a professional to mitigate failure.
Through this business, you would need to offer enough information before advising your respective clients.
Whatever field you choose, you’d need to make sure it is in line with Utah’s laws, and you have your license & permit before practising.
A taxi business is one of the most profitable businesses in Utah. Once you have a good and stable car, you can transport people from one place to another while making a considerable income.
You should join either Uber or Lyft to rake in more profits as many residents or tourists in Utah use these platforms.
Utah has one of the most significant numbers of tourists every year. The state has numerous lovely sites, historical infrastructure, and beautiful places one would love to visit.
Some of the attractions centres in Utah are Natural Bridges National Monument, Calf Creek Falls, Lagoon Amusement Park, and Grand Staircase-Escalante National Monument
Given this particular need, one can start up a tour guide service.
There are an increasing number of dog owners in Utah who require trained individuals to watch over their pets. One can start this business from their home and get people to bring their pets for training.
A virtual assistance business is a good business you can engage in full-time or as a side hustle.
So many people do this as a professional service, not just in the US but worldwide. This type of business does not necessarily demand capital, as you can work from the comfort of your home if you access to data
Starting a fitness center is an excellent business idea. Once you have ample space with little exercise and fitness equipment, you can comfortably start and grow.
It remains one of the best and most lucrative businesses for establishment in the state of Utah. Also, you don’t need to start by having a location; you could start training people as their fitness trainers.
Photography is another option to consider if you want to start a business in Utah. All you need to do is get a functioning camera and be skilled in taking beautiful pictures and covering diverse events.
If you have a passion for photography and don’t know where to start, you can always take online classes or use a great resource like YouTube.
It is projected that the number of elderly (65 years old and above) in Utah would reach 544,529 by 2030, according to Senior Living
This figure shows that more hands will be needed to provide care services to senior citizens in the state. Creating elderly care home and offering various health care services is ideal.
A thrift store is a shop where various items ranging from clothes to household goods can be purchased, and it is one of the easy-to-start businesses in Utah.
Utah is an excellent place if you are looking to establish a business where various items can be bought.
Residents and visitors always look for something to start their day, given their busy schedules. One can suitably start up a coffee shop and earn a lot from it. Through this shop, one can offer diverse snacks that will complement the coffee.
Men would always need to stay adored and neat while maintaining a good impression in public.
This requires regular shaving of the hair and beards, which necessitates a barbershop. This business is very lucrative.
Utah is a great place where an automobile maintenance business can succeed. Once you have the skills, the necessary tools, and a suitable workshop, you can start up this particular business.
For you to operate in this business or the motor vehicle industry in Utah, for that matter, you would need to get a license from MVED.
Utah is one of the most suitable locations where diverse businesses can survive considering the favourable policies for small businesses.
You also need to play your role by making sure that you have the required permits
There are a lot of things that would make one’s business idea stand out in this state. One can conveniently consider either of the above-discussed profitable businesses in the State of Utah.
Edwin Plotts (2020). “Utah Pet Ownership Stats”. pawlicy.com
Senior Living. “Utah Senior Living Statistics & Facts”. seniorliving.org