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13 Best Business Ideas in Massachusetts

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Published on September 16, 2022

Updated on September 16, 2022

13 Best Business Ideas in Massachusetts

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13 Best Business Ideas in Massachusetts

Massachusetts is among the smaller states, but is also among the most livable states in the US because of its affordability, quality of life, and safety. Among its biggest industries are life sciences, IT, finance, manufacturing, defense, and creative. 

Starting a financial coaching business in this state could be the perfect choice for you. You can also do digital marketing, web design, or SEO consultancy. These are among the business ideas in Massachusetts we’ve listed below. Take a look!

1. Marketing Consulting

Marketing Consulting

If you’re ready to take your marketing career to the next level, why not set up your own marketing consulting business? The $475 billion global marketing services industry is projected to grow steadily. A fast growing segment is digital marketing, which has also been contributing the bulk of income.

If you have experience providing professional advice on marketing and sales, you’ll need only a minimal investment to set up your marketing consulting business. Before you launch, it’s a good idea to choose which services to offer, build your team, and scope out the market to determine pricing. Once you’ve decided on a business name, it’s to your advantage to create a logo, set up social media accounts, and develop a website to establish your brand especially in the digital space. These will help you find your first clients. The journey won’t be easy and you might encounter speed bumps along the way, but it’ll be worth it.

2. Physical Therapy

Physical Therapy

As more and more Americans express an interest in their long-term health and wellness, demand for physical therapy has steadily increased. After years of steady growth the industry is worth $38 billion in the US alone, and offers an excellent opportunity for the entrepreneur. If you’re an established physical therapist or will soon become one, you could start your own practice and make a good living while helping countless people live fuller, healthier lives. That’s an incredibly valuable service — which is why it’s so well compensated. 

You will of course need to be certified as a physical therapist, which takes years of education and hard work. But assuming you have your certification you’ll just need to get your license and insurance and find a good location for your physical therapy business. An alternative, for when you’re just starting out, is to be a mobile physical therapist and provide your therapy sessions at people’s homes and offices. This would cut your costs and allow you to save up for the deposit on a fantastic location. 

Once you’re all moved into the new space, your clients will start referring new clients and your marketing should bring in even more.

3. Web Design

Web Design

Do you know of any legit business that doesn’t have a website? That’s right — in today’s digital world, businesses need to have a decent website if they expect to be taken seriously. That’s why web design is a $40 billion industry that’s seeing steady growth as the number of new US businesses hits record highs. All those new companies will need websites, which means right now is a great time to start your own web design business and design a bright future. 

First, if you’re not already an established graphic designer, you will need a bit of training. But there are many helpful options out there, including online educational platforms that offer subscriptions that allow you to take as many classes as you want. Alternatively, many universities offer affordable website design certification courses. Once that’s sorted, the next crucial step will be building your own website, which has to be fantastic or nobody will trust your skills. 

With some quality social media marketing, you should be able to rope in a client or two. Impress them and you’ll be on the road to design success.

4. Sneaker Reselling

Sneaker Reselling
rblfmr / Shutterstock.com

Sneakers are so hot right now that some are saying they’re a better investment than gold! The global sneaker resale market that was worth $6 billion in 2019 is set to be worth $30 billion by 2050 — that’s lightning-fast, five-fold growth in just over a decade. Driving this trend is the way millennials and Gen Z’ers increasingly see sneakers as work-out wear, style choice and even a long-term investment. India, and its sneaker-loving population of 1.3 billion people, is also contributing. 

You could ride this wave by starting your own sneaker reselling business and cashing in. You don’t even have to rent out and open a shop. You can run your business from home and sell online to customers all over the world. You will, however, need an appealing and easy-to-use website, and all the required licenses and permits to sell in the US and internationally. Last but not least, you will need some inventory to get started. So if you don’t already have a nice collection of vintage sneakers, you might want to get out there and start checking out eBay, Etsy and other online marketplaces for good deals.

5. SEO Agency

SEO Business

Google is the undisputed king of search and the main entrypoint to the internet. As a result, search engine optimization (SEO) — guidelines and practices that lead to preferred Google search results — is one of the world’s fastest growing industries. The market is growing at a 17% annual rate and expected to expand five-fold by 2030. Now is a great time to start your own SEO business and ride this wave to serious success while helping businesses boost their revenue. 

If you’re not already an SEO expert, there are countless free online courses you could take to start building up your skills, as well as pay courses that provide greater insight. Once you have a firm understanding of SEO principles, you should use them to build your own website and fill it with SEO-friendly content. Once that’s done, you’ll have evidence of your SEO abilities, which you’ll be able to use in your marketing materials to attract your initial clients. 

If you’re able to provide excellent service and boost their traffic, referrals will follow and you’ll be on your way.

6. Financial Coaching

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!

7. Short-Term Rental

Short-Term Rental

With the rebound in travel and renewed demand for short-term rentals, many people have the idea of renting out their houses on Airbnb or VRBO to earn some extra cash. You, too, can start your own short-term rental business if you have a spare room or apartment. It can be a lucrative and scalable business model. There were more than a million short-term rental listings in the US in 2020. The number is expected to increase by at least 20% in 2022 as demand surges. 

Before you get started, you will need to figure out what type of accommodations your guests need and pick a niche. For example, if you want to open a bed and breakfast-style accommodation, then your focus would be on value, comfort, location and customer service. On the other hand, if you want to rent out apartments, then you focus more on affordability. Whether you rent out a room or an apartment, it is important that you register your business and comply with your state’s rental laws.

8. Digital Marketing Agency

Digital Marketing Business

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 right now, 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 know the steps in setting up a business. Keep in mind that since this is a relatively new industry, there are no concrete guidelines for success, but some insights into how other companies grew their own businesses 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!

9. Karaoke Bar

Karaoke Business

The pandemic dealt a blow to karaoke bars across the US, but the industry is expected to recover as the economy bounces back and consumer confidence improves. There are over 1,500 karaoke bars across the country, and there’s still room for more so start your own karaoke business now. The market is expected to grow in terms of revenue in the next five years. 

The first thing you need to do is scout for a good location. Your karaoke bar should be accessible to your potential customers. Next, you will need to come up with a business plan to determine what services you’re going to offer. Most karaoke bars also serve food and drinks to their customers, so you might want to work on your menu before you get started. Once you’ve prepared everything and complied with all regulations, you should promote your business. A karaoke business can be highly profitable if you play your cards right.

10. Clothing Line

Clothing Line

Are you a fashion designer with big ambitions? If so, now’s a great time to start your clothing line business. The global apparel industry has been growing steadily for years and is now worth more than $1.5 trillion. The market is always on the look-out for hot new styles and up-and-coming designers, so if you have the skill and talent the opportunity is serious. 

There will be some work involved. You’ll have to design an entire clothing line, not just one or two pieces. To start with, you might want to focus on a specific area of apparel, such as evening wear, jeans or lingerie. Once you’ve got your designs you’ll need to partner with a reliable, affordable manufacturer. Next is the crucial step of naming your company, and your initial collection, and building a brand. 

Don’t expect success to arrive overnight. Launching a fashion line is tough. Have you seen “The Devil Wears Prada”? The fashion industry is notoriously cutthroat, and it’s very difficult for new designers to get their clothing into stores and in front of customers. You might have to find other ways to get your designs out there, such as on Etsy or Amazon or your own website. Good luck!

11. Bakery

Baking Business

Who doesn’t love homemade baked goods, fresh out of the oven? If you often find yourself elbow-deep in flour, now’s a great time to take the next step and become an entrepreneur. Despite the anti-carbohydrates trend, the US baking industry has been growing for years and is now worth more than $12 billion. You could open your own bakery, or start a home-based baking business, and share your delicious culinary creations with the world while also making a good living. 

But starting a baking business can be tricky, and there are several hurdles before you can start. You’ll need to nail down a handful of absolutely fantastic baked goods that will keep people coming back. You’ll need to outfit your kitchen, or your new bakery, with all the right equipment and ingredients. And of course you’ll also need to pass health checks and government licensing required for food businesses. 

After that, you’ll just need to start marketing your tasty treats and, with a bit of luck, you’ll soon have too many orders to fill!

12. Jewelry Store

Jewelry

Are you fascinated by gems and jewels? The $300 billion global jewelry industry is growing fast and the value of gold is as high as it’s ever been, which means now is a fantastic time to get in on the action. You could start your jewelry business from home and provide stunning, high-quality goods to discerning clients around the world while making a good living. Best of all, you’ll also be able to express your creativity, with innovative and appealing designs for bracelets, rings, necklaces and more. 

Of course, you’ll need to develop your jewelry making skills, and thankfully there’s a wealth of online instruction that can help with that. You will also need to find a reliable wholesale supplier of gems and valuable metals, and acquire the proper equipment. Finally, once you start producing brilliant jewelry, you’ll need to hit on a strong marketing campaign in order to stand out in an increasingly competitive marketplace. 

But if you’re able to check all these boxes, diamonds might soon be your best friend!

13. Sock Shop

Sock Business

Wild and wacky socks are the must-have accessory these days, with countless Millennials and Gen Z’ers expressing their style with their feet. The $8 billion global sock industry has grown 15% in the last two years and expects continued growth in the years ahead, as all sorts of bizarre color patterns and pop culture-inspired socks gain ground. If you’ve got a strong fashion sense, you could start your own sock business and help people look and feel good while grabbing a share of this market. 

You’ll need to brush up on your design skills and find a reliable manufacturer to partner with, but as long as you’re able to create unique and appealing designs, you should be able to generate some real interest, even working from home and selling your socks online. Once your latest new hot pair of socks goes viral on TikTok, those crazy kids will be knocking down your door looking for more.