The state of Wisconsin is a beautiful, peaceful place full of lakes and other natural attractions. Consequently, its location in the north and geography create fantastic conditions for beginning new, exciting businesses. Besides, Wisconsin has one of the largest GDPs in the U.S. at $294 billion for 2020, placing the state at the 21st position in the country.
And if you’re looking to start a new business in the state of Wisconsin, but you’re not sure what to do, you’re at the right place. This article lists down the top four business ideas to begin in Wisconsin that require relatively small investment funds. When going through and considering the following five business ideas, answer the three key questions:
- Do you know an area or a neighborhood of a city that doesn’t yet have such a business?
- Do you believe that you can find a large group of recipients for such a business?
- Do you possess adequate knowledge, acquaintances, and do you know where to find suitable premises and employees to start such a business?
If you have positive answers to the questions mentioned above, then you’re good to roll. So, without further ado, here are the four business ideas to start in Wisconsin that you should consider.
The state of Wisconsin has extensive arable lands and holds numerous records in the agricultural field in the country. For example, Wisconsin leads the way in cheese production, is second in the production of butter, and third in milk production. Additionally, Wisconsin’s soil and perfect climate support the cultivation of crops like oats, wheat, sweet corn, cranberries, carrots, and more.
For the reasons mentioned above, our top business idea to start in Wisconsin is establishing a farm plantation to produce any or a combination of the crops and products listed above. With proper funding, cultivable land, and a competent workforce, you should be able to easily reap handsome rewards from the proceeds of your newly established farm.
Nevertheless, if you decide to tackle any agricultural project, while setting up your business entity, make sure to obtain Wisconsin business insurance to protect your crops from outside factors, as all agriculture businesses are full of unfortunate events.
If you’re already living in Wisconsin, chances are, you know that the state is home to many magnificent destinations like the Circus World Museum in Baraboo, the House on the Rock near Spring Green, or the Dells of Wisconsin River. The state also hosts numerous festivals, including the EAA Oshkosh Airshow and the Summerfest.
Over the last decade, tourism contributes to almost a third of the GDP of Wisconsin. So, you can take advantage of the numerous tourist destinations, festivals, and water channels by establishing a prosperous tourism agency that will organize tours and showcase Wisconsin’s beautiful destinations.
To do this, you will need to employ competent tour guides, get all relevant permits, obtain business insurance, and market yourself appropriately to differentiate your agency from the rest of the pack. Besides recreational tours, you could also offer services like hotel and hostel booking, visa procurements, reservations, and other customer services that your customers may need.
The state’s growing economy is supporting a growing number of middle to high-income residents. These individuals are prone to seeking better and newer accommodation, especially with the rural to urban migration that people embark upon in recent times searching for more opportunities and better jobs.
You can take advantage of this situation by starting a real estate agency in Wisconsin. You can either work with the development of property for various classes of earners, or you could serve as the middleman in connecting people with their desired accommodation. To kickstart your new real estate agency, you will most certainly need to obtain licenses, operational permits and engage competent staff who will work as both agents and marketers for your agency.
Small-scale manufacturing is a fantastic business idea as long as you can develop a product that will bring added value to the customers. There are loads of things that you can produce and sell in Wisconsin, whether through a brick-and-mortar retail place or on the Internet, as well as at craft fairs and local stores. Examples of products that you can produce and sell in Wisconsin include pottery, ceramic tiles, natural cosmetics, handmade soaps, furniture, and others.
There you have our top four business ideas to start in Wisconsin. However, the list doesn’t begin or end with these four industries as there are many other prosperous opportunities for new entrepreneurs in the Badger State. Whatever you decide, we hope you have many customers and enjoy great success.