If you have been looking for places with viable business opportunities, then Idaho is one of the best places to start a business. The climate in the region favors business. Besides the environmental aspects, the entrepreneurial culture here is very vibrant. You only need viable ideas that will satisfy the demand of the population. Below are the top five business ideas that will thrive in most parts of Idaho.
Foreclosed Home Cleaning
The best way to start home cleaning service is to get in touch with local foreclosure agents and inform them about your plan. Many foreclosed homes within the state are in bad state, and they require cleaning service. The best thing is that there are few service providers, so the market isn’t saturated yet. Moreover, you only need basic cleaning equipment and marketing material to start the business.
Food Processing
The land and climatic condition favor potato farming. Any investor who needs to leverage on this can reap from cheaper raw materials. Actually, you can process the product at a relatively lower cost than anywhere else in the US. The best thing is that potatoes grown in this region are in high demand because of their quality. Apart from potatoes, there are several other food products in the state that investors can commercially process.
Offer Outsourced Services
Today, the demand for specialized services is on the rise. If you are good in such as technical IT skills, there is demand for such service in Idaho. Several technology companies such as Micron Technology, Hewlett Packard, and Clean Water Analytics have set up bases in Idaho. IT services are one of the highly lucrative services whose demand will continue to unforeseeable future. Likewise, there are few brands who have taken full advantage of the social media, especially Instagram. So, if you have the right social media marketing skills, you can start off a consulting firm targeting local businesses. The best thing is that most these services can be offered online or through telephone, so you don’t need sizable capital to start off.
Food Delivery Service
Apart from food processing, there is also demand for food truck service. You can partner with restaurant owners to deliver food in different localities. All you need to run the business are few vehicles. Moreover, the failure rate for food truck business is less than 20% when compared to 60-90 percent for a restaurant business. The business doesn’t need any technical skills. To efficiently operate this kind of business, you need to serve customers within the same locations.
Real Estate
There are so many factors that favor real estate investment in Idaho. With the growing population, the demand for property is expected to continue. The crime rates are low so does the cost of living. Today, the home prices are rising because the supply cannot meet the strong demand for starter homes. This trend is expected to continue for next few years. According to Forbes.com, the increasing number of tech professionals with high income in Idaho is a great boost for the property market. If you intend to enter into Idaho real estate market, first you need to think long -term. According to Amoso Properties, the best investments right now are the single-family homes. These properties don’t require much investment. If you can find a property where you can earn money from renting, don’t wait for long because you have found a stable income opportunity.
The above are just some of the best business opportunities in Idaho, but there are several opportunities that are still untapped. Whichever business you decided to invest in, you need to check the state requirements and any form of support you might need from the local administration.