Chemical manufacturing, finance and insurance are the main economic growth drivers in Delaware, one of the smallest states in the US. The state also has a vibrant market for businesses related to life sciences, technology, education and healthcare.
Opportunities abound for financial coaching, bookkeeping, and advertising businesses. Clinics, gyms, fitness studios, and healthcare businesses are also likely to thrive in this state. These are among the business ideas in Delaware we’ve listed below. Find out more!
Are you looking to start your own clinic business? It can be a great opportunity to help people in your community and earn an income as well. It’s a fast growing industry in the US, driven by an aging population that needs health care services. Total spending on physician and clinical services exceeded $800 billion in 2020. Even retailers are putting up walk-in clinics to provide convenience to its customers. Retail clinics alone are predicted to grow at least 3% per year through 2028.
The first step in starting your clinic business is to choose your niche. What kind of clinic are you looking to open? Is it going to focus on providing urgent care, or primary and preventive care? Is it going to be a mobile clinic? Who is your target market? You will find the answers to these questions as you do your research. Make sure to comply with licensing and insurance requirements. You will also need to be innovative in marketing your services to reach more prospective patients and achieve success.
2. Health Care Provider
Thinking of setting up a health care business? You’re on the right track. Demand for health care services is on the rise mainly due to an aging population in the US. By 2030, the number of American adults age 65 and older is forecast to exceed 60 million. This means increased health care spending. Which segments are booming, you might ask. Profits are growing fastest in medtech and health care information technology (IT).
So what are you waiting for? Now’s the time to start a health care business. Take the first step by finding a niche that you can focus on. Make sure you have the necessary permits and licenses, whether you’re thinking of starting a medical practice, home health care company, or something else entirely. You’ll also need to decide on a value proposition that will set you apart from the competition and make it easier for you to promote your business.
Are you looking to open your own bar? It can be a great way to make money. The bars and nightclubs industry in the US is slowly coming out of pandemic slump and the prospects are bright for a strong year ahead. There are more than 60,000 bars and nightclubs in the country, and there’s still room for more. Starting your own bar business now is the right thing to do.
There are a few things you have to do before you launch your bar. Besides making sure that your business is legally compliant, it’s a good idea to be ready to adapt to the latest nightlife trends and shifting consumer tastes. A recent survey showed that more Americans would leave a bar if it gets too crowded or the music is too loud. More Americans are also choosing non-alcoholic drinks, low-alcohol cocktails, kombuchas, and other beverages with low to no-alcohol content. With careful planning and a great marketing strategy, you should be making big profits from your bar business soon.
As the US economy recovers from the pandemic, gyms and fitness centers are also expected to reopen and bounce back. The gym, health and fitness clubs industry is poised for a modest growth and expected to earn more than $36 billion in 2022. Starting your own gym business can be very profitable and rewarding, too.
Setting up a gym can be a breeze if you’re motivated and have a clear idea of what it will offer and what you want to achieve. You will need to invest in exercise equipment, choose a location that is accessible to potential customers, and secure the necessary permits and certifications. An option is to get a franchise or buy an existing fitness center. You will also need to identify a target market. There’s an increasing number of younger people who want to get fit and healthy, so you might want to direct your advertising and marketing efforts to this demographic. Don’t forget the older fitness buffs, though. Their number is also increasing.
5. Seminar Organization and Production
Starting your own seminar business can be a great way to share your knowledge with other people and make some money while you’re at it. Training expenditures in the US are expected to increase now that the pandemic is winding down. The market saw significant growth in the years prior to the pandemic, but declined as companies slashed their budgets. It is still a huge market, with more than roughly $80 billion in revenue in 2020.
Starting a seminar business is relatively easy if you already know your area of expertise. For example, if you are a fitness expert, you can create an event where people learn how to get in shape by giving them advice on nutrition and exercise. You can also do a webinar if your topic does not require face-to-face training. Most of the seminars outsourced by American companies involve content creation, learning management system hosting, and instruction and facilitation. You’ll be up against some tough competition, so you should have the patience and perseverance to build a successful business.
6. Fitness Center
Americans have never been more concerned about their health, which is helping drive widespread interest in achieving better fitness. The US gym and fitness industry is worth $36 billion after years of strong growth. As the pandemic recedes and people get back out there, that market expansion is expected to continue. Even if you’re not a fitness junkie, you could start your own fitness business and help people live healthier, happier lives while earning a solid income.
You don’t even need a physical location. If you have some experience in fitness, you could begin by offering online classes, such as in yoga, Zumba or pilates. Then, once you’ve built up a brand, you could open your first location and start building your fitness empire. Just be sure to get all the required licenses and permits as well as a strong insurance plan — you don’t want your new fitness business to be sidetracked by a customer injury.
7. Bookkeeping Agency
You probably think that bookkeepers and accountants do largely the same work, and in some minor areas their work does overlap. But for the most part, bookkeepers perform the minute recording of day-to-day financial transactions, while accountants use bookkeepers’ data to create financial statements and review a company’s financial standing. The work of bookkeepers is, in fact, crucial to financial stability, which is why the US is home to 1.5 million bookkeepers and a growing $55 billion industry.
If you’re hard working and good with numbers, you could start your own bookkeeping business and grab a share of that market while helping countless companies keep better track of their financials. What’s more, you could work from home to start, and market your services to clients around the world.
Keep in mind that you will need to become a certified bookkeeper, which requires a good deal of training and experience. But once you’ve cleared that hurdle and begun building a reputation through great service, you’ll be well on your way to success.
8. Dry Cleaning Service
There are no hard and fast rules when it comes to dry cleaning your clothes. Some have their formal suits or gowns dry cleaned after the third wear while others do it after five or six wears. One thing is sure, though — as the economy improves and more social gatherings are held, the $8 billion dry cleaning industry is expected to bounce back from decline in the last two years. It would be wise to start your dry cleaning business now and position yourself for success.
Before you get started, it is important to identify your target market and decide what services you’re going to offer. Besides individual consumers and corporate clients, other potential customers include hotels, restaurants and hospitals. You could provide full-service laundering and dry cleaning services as well as special services for certain types of garments such as fur, leather and suede. Once you’ve complied with all legal and regulatory requirements, you should embark on a marketing campaign to promote your business.
9. Janitorial Business
Every large building in the country needs custodial services, which is why commercial cleaning in the US is worth $82 billion and growing fast. With a small investment, you could start your own janitorial business, help keep your town clean and grab a slice of that huge market. You don’t even need any experience or expertise, because cleaning isn’t terribly complicated. You do, however, need to be willing to do a bit of dirty work.
To get started, you’ll need to buy some reliable cleaning equipment and supplies, from buckets and mops to brooms, washcloths and cleaning solutions. Next, you’ll probably want to get some insurance to minimize the risk of any incidents or accidents. Finally, just register your business and begin offering your services to local schools, businesses, hospitals and government office buildings. You might want to use online platforms like Angie’s List and TaskRabbit, which help expand your reach. Once you get those first few clients, and provide excellent service, you’ll be on your way to cleaning up big time!
10. Cattle Farm
The US is both a major exporter and importer of beef, and the cattle sector accounts for the largest share of total cash receipts for agricultural commodities nationally, so starting a cattle business is certain to provide anyone with a steady income. If you’re thinking about establishing your own ranch or simply opening a retail shop for cattle products, this is your opportunity! Commercial beef production in the US is projected to grow to more than 27 billion pounds on higher expected non-fed and fed cattle slaughter.
If you open a breeder farm, you will need to comply with your state’s laws and regulations first. There are also regulations for butcher shops and meat processing businesses. You will have to choose your niche market and create a business plan. There are many factors to consider – from branding and customer acquisition to managing growth. Although the industry faces pressures caused by vulnerabilities in the supply chain and extreme weather conditions, a growing international demand for US beef could still make your cattle business profitable.
11. Pig Farm
It’s a dirty job, but somebody’s gotta do it — because pig farming is a $8 billion industry in the US. Despite the common image of sows rolling in the mud, pigs are actually fairly easy to care for, not to mention intelligent. Besides, ham, bacon, pork chops and barbecued pork are always in great demand. So if you have a sizable outdoor space, or could lease one, you could start a pig farm, make a good living and provide quality meats to your community and beyond.
There are several key steps you’ll need to take. The first is making sure your property is secured with a strong fence, so you don’t lose your merchandise. The second is making sure you have all the proper permits and licenses to keep and sell livestock in your town and state. Third is making deals with nearby meat markets to purchase and distribute your goods. All this done, you should be well on your way to entrepreneurial hog heaven!
12. Advertising Agency
The global advertising industry is expected to steadily grow until it hits $1 trillion in 2026. If you want to corner a share of this massive market, you’re not alone. With a lot of creativity, a good team and efficient networking, you can start an advertising business and come up with clever and memorable ad campaigns.
First, you must scout the right talents, train them and enhance their creativity. You will have to build up your brand to get ahead of the competition. You’ll also need to closely study the target markets, be ready with your marketing tools, and keep pace with the latest trends and technologies that could give you a competitive edge. Being curious about people and their daily lives would help in creating content that is relevant and up-to-date. Some of the best ad campaigns show slices of daily life. If you pay attention, you’ll be able to grab any opportunity that comes your way.
13. Financial Coaching
Thinking of starting a financial coaching business? You’re not alone. Financial coaching is one of the fastest growing industries in North America, and women make up nearly 60% of coaches, so it’s diverse and empowering as well. Financial coaches help people grow their wealth by laying personalized strategies to achieve their goals. This includes budgeting, saving, retirement planning, helpful financial strategies and tools, and more.
You might be wondering how you’ll find clients, how much to charge for your services, and what kind of education you might need. These are all good questions that you will find the answers to as you research financial coaching and begin your entrepreneurial journey. Opportunity awaits!