17 Best Business Ideas in Indiana

Indiana was quick to bounce back from the pandemic, as shown by a sharp increase in economic output. Known for the annual Indy 500 car race and strong manufacturing, the state has emerged as one of the US’ most business-friendly states because of a low tax burden and high startup survival rate. 

We’ve put together a list of excellent business ideas in Indiana to consider, including in transport, insurance, bartending, and web design. Check it out and begin your entrepreneurial journey to success!

When it comes to the licensing, please note that Indiana does not have any one single, comprehensive business license. All businesses operating in Indiana are subject to regulatory requirements that may involve several state agencies.

1. Manufacturing

In Indiana, manufacturers may need specific licenses depending on what they produce, especially if it involves food, drugs, or environmental impact. Contact the Indiana Department of Natural Resources for environmental licenses. Key tips include understanding supply chain management, focusing on quality control, and maintaining good relationships with local suppliers and distributors for better materials sourcing and cost efficiency.

2. Rental Property

For managing rental properties in Indiana, you’ll need to comply with local housing codes and regulations, possibly registering with the county. Research the market to set competitive rental prices and consider hiring a property management company to handle day-to-day operations if scaling up. Always screen tenants carefully to ensure reliability and minimize turnover.

3. Health Care

Starting a health care business requires adherence to strict state and federal regulations. Obtain licensing through the Indiana Professional Licensing Agency. It’s crucial to invest in qualified staff and continuous professional development. Maintaining high standards of patient care and keeping abreast of changes in healthcare laws will be essential for success.

4. Wholesale

If your business sells goods or tangible personal property, you’ll need to register to collect a seven percent sales tax through the Indiana Department of Revenue. Focus on building a robust distribution network and cultivating strong relationships with both suppliers and retailers. Competitive pricing and reliable delivery services are key to gaining and retaining clients.

5. Retail

Retail business owners must obtain a sales tax permit from the Indiana Department of Revenue. Location is critical; choose a spot with high foot traffic. Stay current with trends and consumer preferences to keep your inventory relevant. Excellent customer service and an effective marketing strategy are also vital.

6. Insurance

To start an insurance business in Indiana, secure a license from the Indiana Department of Insurance. This market demands deep understanding of insurance products and strong customer advising skills. Building trust with clients and maintaining transparency in all transactions can set you apart from competitors.

7. Stationery Shop

Local municipalities will likely require at least one type of business license or permit before you begin operating your stationery shop in the state of Illinois. Focus on selecting a location near schools or business districts to attract more customers. Stock a variety of products to appeal to different customer segments, from students to professionals.

8. Beverage Company

A beverage company in Indiana needs to comply with health department regulations and obtain necessary permits, especially if selling alcohol, which requires a liquor license. The body responsibile for the licensing is Illinois Liquor Control Commission. Focus on quality sourcing of ingredients and create a strong brand to stand out in a competitive market. Effective marketing and distribution strategies will be crucial.

9. Junk Removal

To operate a junk removal business, ensure you have the proper waste transportation and disposal permits. This industry benefits from local advertising and partnerships with real estate agencies or remodeling companies. Focus on reliable service and environmentally friendly disposal practices to build reputation.

10. Supplements Store

Opening a supplements store involves registering with the Indiana Department of Revenue and possibly dealing with FDA regulations if you plan to sell proprietary blends. Keep informed about health trends to stock products that meet consumer demands. Transparency about product sources and benefits will help build customer trust.

11. Tow Truck

All drivers must be properly licensed to operate tow trucks. You may also need local permits. Investing in reliable equipment and training for your staff is key. Quick response times and professional service will help you build a strong local reputation.

12. Airbnb Rental

To start an Airbnb rental in Indiana, ensure compliance with local zoning laws and tax regulations, including obtaining a rental permit if required. Furnish your property to appeal to your target market and focus on creating comfortable, unique experiences. Prompt and professional communication with guests is crucial for good reviews.

13. Bartending Service

The Indiana Alcohol Tobacco Commission (ATC) licenses and regulates the permits: bartender, waiter, waitress, salesperson and clerk associated with the sale or service of alcoholic beverages in the State of Indiana. Focus on hiring skilled bartenders and offering exceptional customer service. Building relationships with event planners and venues can provide steady business opportunities.

14. Clothing Boutique

A clothing boutique in Indiana needs to register a business entity and obtain a sales tax permit. Choose a niche market to target specific customers and select a prime location with good visibility. Keeping up with fashion trends and providing excellent customer service can help cultivate a loyal clientele.

15. Diamond Jewelry Store

Operating a diamond jewelry store requires careful adherence to both state sales regulations and federal import/export rules if sourcing diamonds internationally. Focus on providing exceptional customer service and building trust through transparent pricing and quality assurance. Security measures are also crucial given the high value of inventory.

16. Web Design

For web design services, a general business license from your local municipality is needed. Stay current with the latest design trends and technologies to offer cutting-edge solutions. Networking with local businesses and offering competitive pricing will help establish a strong client base.

17. Transportation Service

Starting a transportation service in Indiana requires compliance with Department of Transportation regulations. Ensuring your vehicles are well-maintained and drivers are properly licensed and trained will be key. Focus on reliability and safety to build a strong reputation.