Best Businesses to Start in North Dakota

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North Dakota Best Businesses

The “Peace Garden State” has long flown under many peoples’ radar. Yet it is a solid location to start a business in and has a remarkably low unemployment rate. There are many good businesses to start in North Dakota, especially in the agricultural, tourism, and fitness industries. Starting a farm is one of the best small business options in North Dakota, as is working with other companies online. Other factors that can help you start a successful business in North Dakota are the state’s affordable cost of living and low corporate tax rate. 

If you’ve been wondering what is the best kind of business to start in North Dakota, then you’ll enjoy this article. We’ll review our best small business options in North Dakota and answer some common questions on the topic. 

That said, let’s look over our best business ideas in North Dakota to start today. 

The Most Profitable Small Business Ideas in North Dakota

Starting and running a profitable small business is no easy task. One of the wisest steps you can take to ensure your success is to pick the right type of business. Here are five of the best small business types to start in North Dakota. 

Idea #1: Yoga Studio

If you have a passion for fitness, self-awareness, and helping others, then you can change peoples’ lives with your own yoga studio. Both gyms and yoga studios are growing in popularity in the state, so you can rest easy regarding the industry’s long-term prospects. On top of that, all you need to start up is a minimal amount of equipment and basic knowledge of yoga.

While you can choose to lease or rent a separate space for in-person classes, you can also lead yoga classes from the peace and quiet of your own home office or spare room. 

Idea #2: Farming

Agriculture forms the backbone of North Dakota’s economy. In fact, North Dakota is the number one producer in the United States for a dozen kinds of crops, including sunflowers, beans, wheat, and honey. It also has one of the lowest average real estate values per acre of land. These two facts make farming a potentially lucrative business option. Given its four-season climate, farm owners could choose a wide variety of crops, granting them the flexibility to adjust to market trends.

Idea #3: Virtual Assistant

Do you have a knack for being organized? Do you enjoy helping people with day-to-day tasks? Then consider opening your own virtual assistant business. This provides you with plenty of options to bring in a sizable cash flow from the comfort of your own home. You can also control your own workload and schedule and form all kinds of new business relationships. Most importantly, you’ll join an industry that is projected to see a tremendous amount of growth over the next decade. 

Idea #4: Bed and Breakfast

North Dakota boasts an impressive selection of tourism destinations. Just a few of the more impressive sites include Theodore Roosevelt National Park, the North Dakota Heritage Center and State Museum, and the Old Red Old Ten Scenic Byway. There are also countless sites for camping, skiing, horseback riding, and hiking.

With all of these tourist opportunities, you can turn any spare property (or even your own home) into a charming bed and breakfast. All you need to start a bed and breakfast business is a little bit of space and a passion for hospitality.

Before you open your doors, however, make sure you have all the required business licenses and permits to operate legally. Don’t know where to find out what permits and licenses you might need? We can help. With our Business License Service, we’ll work with our partners at Avalara to deliver a customized report that shows all the permits and licenses you will need to operate your bed and breakfast business legally. 

Idea #5: Resume Editor

Despite the state’s low unemployment rate, people are continually moving to different job positions. And resumes are vital for every job applicant. If you have a good eye for document design and keyword optimization, then resume writing could be a great outlet for you. Furthermore, you can offer a wide variety of related services, including career coaching and CV reviews. This great business idea also works well as a remote position and involves virtually no startup costs. 

Why These Are the Best Small Businesses to Start in North Dakota

There are many reasons why these business ideas in North Dakota are particularly compelling. For one, all of these business opportunities relate to industries that are rapidly growing. Furthermore, most of these business ideas do not have significant start-up costs, and they can be performed from home. 

However, there are many other factors you should consider when weighing these business ideas, including your financial situation, personal passion, skill set, and long-term goals. That said, almost any kind of business can thrive with the right dose of hard work, initiative, and skill. 

Best Cities in North Dakota for Starting a Business

The best place to start a business in North Dakota depends on the industry and your personal situation. That said, a few cities stand out from the crowd. Some of the best places to start a business are:

Although these cities are the best spots in North Dakota for starting most kinds of businesses, other cities can work well depending on the circumstances. 

We Can Help

Maybe you’ve already made your own list of the best businesses to start in North Dakota. If you’re ready to turn one of these ideas into reality, we can help. We have a surprisingly large selection of small business products and services that can help you rise to any challenge. Our North Dakota Limited Liability Company (LLC) Formation Service and Corporation Formation Service allow you to quickly and conveniently start a business. We can also give you guidance on how to compare different business structures so that you’re set up for success!

It’s one thing to have a great business idea. It’s quite another thing to turn that idea into a thriving, growing business. However, we’re dedicated to making it easier for people to form and maintain successful small businesses. We’re standing by to help you with almost every kind of business need. Need to start a business? Our North Dakota Business Formation Service will do the heavy lifting and get you off to a great start. Want to keep your current business compliant? We can get you squared away with our Worry-Free Compliance Service, which will help you stay in good standing with the State of North Dakota. Whatever your business requirements, we can handle the hassle of doing paperwork so that you can zero in on growing your business. 

Disclaimer: The content on this page is for informational purposes only, and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.

FAQs

  1. Why are North Dakota industries booming?

    North Dakota businesses are booming for many reasons, including the state’s modern technological infrastructure and low cost of living.

  2. How do North Dakota business owners grow their business?

    North Dakota offers several business resources for small business owners. That said, all North Dakota business owners can grow a business by researching their markets, keeping compliant with applicable laws, and learning about potential competitors.

  3. What franchise opportunities are there in North Dakota? 

    There’s no easy answer to this question because franchise opportunities vary greatly from one industry to another. Therefore, it’s vital to learn about specific companies that are open to franchising opportunities. You should also understand what their franchising terms are.

  4. What is the best eCommerce business to start? 

    Having an eCommerce business that reflects your business skills and personal interests will probably be the best choice for you to start.

  5. What’s the best business to start at home? 

    Both resume editing and virtual assistant work are excellent choices for a home-based business. Then again, you can adapt other business ideas so that you can work primarily from home.

Most Profitable Small Business Ideas

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