Are there lucrative business opportunities in Missouri?
Missouri, with a population of 5,988,927 million people, is the 21st most extensive and the 18th most populous state in the United States of America. It is located in the Midwestern part of the USA.
Missouri has continued to experience growth in its GDP that compares favorably with the national average.
As a result, there exist several business ideas and franchise opportunities that you can take advantage of in the state of Missouri, which are given below:
8 Profitable Business Ideas To Start In Missouri
Missouri is home to many beautiful land features and monuments. Chief among these would have to be the Missouri River, which is one of the three great rivers, especially the confluence where Missouri joins the Mississippi River.
Every year, tens of thousands visit Missouri to savor the wonders of nature. As a smart business investor, you can set up shop as a tourist consultancy firm to handle the requests of tourists that range from visa procurement and processing, hotel and resort accommodation and booking, currency exchange, tour guides among others.
With adequate financing and competent hands, you will be able to get a good return on your investment.
Missouri is intensifying efforts to diversify its energy sources from fossil fuels to clean renewable energy.
Also, the focus is being shone on the efficient use of energy, which includes the system and installation that are put to use in energy distribution and consumption.
You can start a business in Missouri that will render services such as retailing efficient light bulbs, installing solar panels, conducting home energy audits, or providing green building cleaning products and services.
3. Retail Shops that offer Discount Pricing and Services
Many residents in Missouri are critically appraising their credit and debt ratings and are seeking ways of ensuring that their financial ratings are healthy. One of the ways they go about this is by shopping at stores that offer bargain prices and services.
Some polls have it that Missourians are spending less for up to 30 percent, up from the numbers recorded in previous years. If you have a passion for this business, you can cash in on this penny-pinching attitude to set up a retail/convenience store that offers huge discounts and bargain prices for everyday items and goods.
A major plank of your strategy will be to associate with suppliers that are willing to give you discounts in return.
Another possible area of consideration will be to have an online platform where purchases can also be made from.
4. A Pet’s Shop
The numbers show that this business idea is thriving: Last year alone, Americans spent close to 45 billion USD on pets and other associated pet products. In Missouri, there are increasing numbers of citizens that own pets.
You can take advantage of this business opportunity by setting up a shop dedicated to offering the latest items and fads for pets such as sunglasses, leashes, belts amongst others. Your business will be boosted if you can incorporate other services such as dog walking and home deliveries.
5. Senior Citizens’ Care Services
Missouri has seen its life expectancy numbers climb steadily over the years. So much so, that there is a growing number of elderly citizens that are healthy, living longer, and are comfortable. A good number of the relatives of these classes of individuals are increasingly embracing services for the elderly as a result of busy schedules.
You can cash in on this opportunity by either setting up a home for the elderly or by offering home services. The services your business will render will include taking the aged to their doctor’s appointment, taking them on walks, ensuring that they take their medication as at when due amongst other custom demands and needs.
6. Hand Crafted goods
Another profitable business idea in Missouri is the making of handcrafted products.
Missourians are very appreciative of the arts and if you gifted in the production of handmade gift items such as jewelry, cards, vases, and so on, then you could very well make a fortune setting up a service for handcrafts.
The state of Missouri places a great premium on the health and welfare of its citizenry. Also, citizens themselves are embracing lifestyle changes that impact their health and well-being.
As a smart business person, you can turn this business idea into a viable venture by establishing a health and fitness center. The facility should be stocked with ample sports gear and equipment. You may need to have undergone some certification in physical education and conditioning.
It is also imperative that you engage competent hands that will assist you in the smooth running of the gym.
8. Domestic Services
A key feature of the economy of Missouri is the increasing numbers of citizens who are joining the ranks of the middle class. Such a change in status means that more individuals require people who can look after the home front while they are at work.
You can set up a business in Missouri that will offer services such as child care, sports coaching, tutoring as well as lawn mowing services at a good price.