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Written by: Esther Strauss
Esther is a business strategist with over 20 years of experience as an entrepreneur, executive, educator, and management advisor.
Edited by: David Lepeska
David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.
Updated on February 8, 2023
Louisiana relies on tourism, as well as its oil industry. Mardi Gras, a weeks-long annual festival that resumed in 2022 after pandemic cancellations, often draws more than a million people to New Orleans. Many of the state’s most profitable ventures are linked to tourism, such as dining, live music and landscaping.
If you’re thinking of starting a business in Louisiana, tourism and travel-related businesses are good choices. But those involved in manufacturing, real estate, and waste management also do well. Check out our below list of brilliant business ideas in Louisiana and see which option might work best for you.
A great deal of manufacturing has moved overseas in recent decades, but US manufacturing is still an $8 billion industry that has seen steady growth in recent years. Manufacturing can be extremely profitable, but requires considerable planning and hard work.
The first step is deciding what to produce. Do some research and see which products are selling well and where there may be a market gap. You should keep an eye out for goods that are more affordable to manufacture or offer a significant markup and strong profits.
Next, you’ll want to rent or purchase a manufacturing facility, preferably in an out-of-the-way location to keep costs low. Once you start making your products, be sure to have them tested and certified and acquire all the necessary licenses and permits.
Finally, you’ll be ready to launch with a strong marketing campaign that, with a bit of luck, should start bringing in orders and put you back in the black.
The US real estate market has been booming in recent years, and is now worth nearly $400 billion and expected to see further growth in the years ahead. As an entrepreneur, you’re probably always on the look-out for new opportunities. Right now, with sales totals and home prices at record highs, real estate ranks among the largest and most promising markets. And best of all, you’ll be helping families settle down and build communities.
Of course, starting a real estate business isn’t as easy as getting out of bed. You’ll need to educate yourself about the market and obtain a real estate agent’s license. You’ll need to familiarize yourself with all of the relevant online tools and information to keep you updated on market trends, and find a local broker to partner with. Finally, you’ll need to set up a website and successfully market your home buying and selling abilities in order to stand out in a crowded marketplace.
All that done, you’ll be ready to start building your real estate empire.
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 thinking of starting your own retail business? If so, you’re in good company. The retail industry is a huge part of the economy, and it’s only getting bigger. But starting a retail business isn’t easy. There are a lot of things to think about, from choosing the right location to setting up your payment system. And let’s not forget the most important step: deciding what you’ll be selling!
A good way to choose your product offerings is to first do some research — see what’s out there, and more importantly what’s not. You’re looking for what sells well, as well as a market gap to fill. Once you know your products, finding a great location for your store will be the next big step. However, you might want to initially run your retail business out of your home. This would significantly reduce your costs and give you time to build a brand and a reputation.
After a year or two, assuming your products are well received by the market, you’ll be in a much better position to find a great location and run a successful retail outlet.
Wholesale is all about the advantages of scale: prices are lower than retail because the purchases are in bulk, vast amounts of tomatoes, cement mix, shoes, or whatever it may be. If you’re good at scaling up and making sales, you might want to consider starting a wholesale business, because the industry is expected to continue its steady growth in the years ahead.
Getting started will require a significant investment, because all of that inventory is not going to suddenly appear out of nowhere, and you’ll need a place to keep it. Fortunately, unlike retail, a wholesale business doesn’t have to worry about finding an area with heavy traffic. Instead, the main concern is space. Once you’ve got your goods and a warehouse, you’ll need to obtain all the necessary licenses, then start reaching out to local businesses that might be interested in your goods.
Keep in mind that this is a big and growing industry, which means you’re going to face stiff competition from established firms and other new entrants. You’ll likely need to work hard, and smart, to succeed.
Starting an insurance business can be a great way to make a profit while helping others plan for the future and hedge against financial losses. The global insurance industry has been growing, with revenues estimated to reach more than $6 trillion in 2025. Analysts believe the industry is poised for a more rapid growth as the world recovers from the pandemic. This could be the right time for you to start your own insurance business.
You can start small by setting up an office affiliated with a major industry player. Before you launch your business, you need to know your products well and focus on a niche market. Will you be offering property, health or life policies, among others? You’ll also need to consider the emerging technologies in coming up with business models. It would be helpful if you have actuary skills, some customer service experience and great networking skills.
Strong graphic design is a crucial element of nearly every business’s branding and marketing strategy, which is why it’s always in great demand. After years of steady growth, the US graphic design industry is worth nearly $14 billion and offers real opportunity for the bold entrepreneur. You could start your own graphic design business from home and work with clients around the world, generating good money and turning your creative passion into a successful career.
You will, however, need to have a strong creative streak and some skill and experience with graphic design software and tools. If you don’t have a related degree, you could brush up on your graphic design skills by taking courses at an online platform like Udemy. Next, it’s a good idea to research the market, see what sort of graphic design is trending lately, and keep an eye out for a market gap that might fit your skillset.
Understanding and clarifying what you will offer, which businesses you are targeting and how you’ll stand out from the competition will be crucial elements to your success.
If you’re looking to start your own tourism business, you’re in luck! The US has reopened its land and air borders, and after suffering devastating losses due to the pandemic, the tourism industry is poised for growth. Domestic leisure travel is expected to surpass pre-pandemic levels in 2022 as 82% of American travelers get back to it. International inbound travel, on the other hand, is set to increase gradually and fully recover by 2024 or 2025.
When starting a tourism business, it is important to keep track of the latest travel guidelines so you can properly advise your clients. Besides complying with licensing, insurance and other regulations, you will need to choose your niche market from the get-go. You will also need to be creative and come up with a marketing strategy. You can start by building a strong social media presence to promote your services and attract clients.
In the wake of the pandemic, Louisianans are getting back out to try the latest hot dining options, so now is a great time to start your own restaurant. It’s no easy task, but it can be very lucrative. The US food service industry is expected to bounce back strong and generate $900 billion in sales in 2022.
Still, many restaurant operators believe it will take a year or more before business conditions return to normal. But you could establish a digital presence and work on offering delivery services before opening your doors.
There are many other key steps to consider. First, it’s important to decide what type of restaurant you want to open. Do you want to serve classic American fare, or maybe Italian? Do you want to do casual or fine dining? What about a family-style restaurant? Next, it’s a good idea to research the competition in your area and come up with a plan to set yourself apart. Starting a restaurant can be tough, but if you’re prepared for the challenges ahead, it can be an incredibly rewarding experience.
With many people staying at home and working remotely because of the pandemic, companies have also gone online and undertaken digital marketing initiatives to keep their target markets engaged. Global digital marketing is booming and expected to more than double to $786 billion by 2026.
If you’re looking to start your own digital marketing business, you’re in luck. There has never been a better time to do it. Just catch up on the latest industry trends and keep in mind that since this is a relatively new industry, there are no concrete guidelines for success.
Still, some insights into how other companies grew can be helpful. Read and learn everything you can about the business before uploading your first social media post or your first digital ad. Once you’ve done that, you should be able to get the hang of digital marketing!
Do you have a knack for home improvement? If so, starting your own home improvement business could be the perfect move. The US home improvement market is worth more than $400 billion and expected to grow steadily over the next five years as more consumers shift toward energy-efficiency. Government policies to provide tax credits on green buildings are also driving growth.
To get started, narrow down the products and services you expect to provide. Are you looking to do construction or more interior design? Study the market to find out what others are offering and what’s doing best. To stand out from the competition, it’s best to find ways to provide added value.
As our world becomes increasingly digital, it’s no surprise that more and more businesses need guidance and insight on how to adapt and take advantage of the new technological landscape. This helps explain why IT consulting in the United States has been growing fast and is already worth more than half a trillion dollars. The industry is expected to expand further in the years ahead, which means now is a fantastic time to start your own IT consulting firm and get in on the action.
The crucial element is expertise. If you have a computer science, IT or engineering degree and have spent a few years doing related work at a respectable consulting or tech firm, you have the resume needed to become an IT consultant. You’ll need to build a strong website and register your business, but you could soon be offering your tech insights to top businesses. Provide quality consulting for the first few clients, and you’ll be well on your way to building a reputation, getting referrals and being a successful entrepreneur.
If you love working on your yard and spending time outdoors, you might consider a landscaping business. Boosted by the recent real estate boom, landscaping and lawn care have seen steady growth in recent years. That expansion is expected to continue, so now’s an excellent time to get in on the action and ride this wave to success.
You could offer a wealth of services, from designing yards and gardens to tree planting and trimming, or you could focus on businesses, rather than homeowners. First, you’ll need to brush up on your landscape design and maintenance skills. Fortunately, the US government in 2019 partnered with the leading landscapers’ association to launch a national landscapers’ apprenticeship program to train more skilled workers.
You’ll also need to invest in quality equipment, as well as a reliable truck. After that, to attract clients you’ll want to build a simple, appealing website and launch some strong marketing to get the word out. From there, you should start seeing the business roll in as you enjoy the scent of freshly cut grass.
Hair is big business, worth more than $46 billion in the US alone. More importantly, it’s set to grow nearly 40% by 2027, which means there’s no shortage of opportunity for bold entrepreneurs. If you’re good with hair and have a strong sense of style, you could start your own salon and help people look better and feel more confident while making a good living.
There will be challenges. Assuming you don’t plan to be a mobile salon and make house calls, your first order of business will be to find a great space, preferably in a location with steady traffic. Next, you’ll want to build it out in a way that suits your style and provides a comfortable place. Finally, you’ll want to decide on your products and services — will you offer only styling, or also shampooing and dying? Maybe you’ll want to offer added services like nails and head massages?
Once you’ve decided all that and gotten the required licenses, you’ll just need to do some strong marketing across social media and in your area to get those first customers through the door.
You can make good money from garbage and, with the correct technologies and equipment, help preserve the environment at the same time. The global waste management market is set to reach more than $700 billion by 2030. More than half of the waste produced globally is in North America, especially the US, where many of the world’s large waste management companies are based. If you want to cash in on trash, consider setting up a waste management business in your area.
First, choose a niche market. You could deal with municipal solid waste, industrial waste or hazardous waste. You’ll need to adhere to zoning regulations, licensing requirements and insurance needs. It’s also important to establish collection points, transfer stations, material recovery facilities, and other waste management facilities. If you’re prepared for these challenges and have a clear plan of action, starting a waste management business can be a very profitable venture.
Do you have a great business idea, but don’t know where to start? These days, the best way to get started is often by turning to the internet, where a wide variety of ecommerce businesses have found great success in recent years. Of course you know about Amazon, but there are also millions of smaller businesses that make up what is now a $4 trillion global industry.
With countless people stuck at home, ecommerce revenues increased by more than a quarter in 2020, and they’s still growing, so opportunity in this market remains strong. You will need an appealing, in-demand product, a simple, easy-to-use website, and a sharp marketing plan, but if you’re willing to invest a good chunk of your time and money your new ecommerce business will have a great shot at success. Somebody’s got to be the next Jeff Bezos, right?
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