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10 Best Business Ideas in New Hampshire

Written by:

Edited by:

Reviewed by: Daniel Javor

Published on September 29, 2022

Updated on November 12, 2022

10 Best Business Ideas in New Hampshire

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10 Best Business Ideas in New Hampshire

New Hampshire is a small state in the New England region that hosts large manufacturing, aerospace and defense, life sciences, and technology companies. Like other states, it’s also recovering from the coronavirus pandemic and the outlook is promising, state officials said. 

Some business ideas in New Hampshire include import export, heavy equipment, and real estate. There’s always demand for food and shoes so you might also consider opening a restaurant or a shoe store. Take a look at our list below.

1. Manufacturing Company

How to Start a Pallet Manufacturing Business

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 businesses can be extremely profitable, but they also require a lot of planning and hard work.  

The first step is to decide what you’re going to produce. Do some market research and see which products are selling well and where there may be a market gap. You should keep an eye out for products that are more affordable to manufacture or offer a significant markup and strong profits. Next, you’ll need 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, you’ll need to have them tested and certified and acquire all the necessary licenses and permits. 

Finally, you’ll be ready to launch a marketing campaign that, with a bit of luck, should start bringing in orders and put you back in the black.

2. Import-Export

Import-export

Most people think starting an import-export business is too difficult or complicated. But that’s not always the case, especially today, with the advantages of technology. To get started, you should probably focus on a single product or line of products, such as importing Middle Eastern spices or Chinese vases, or exporting blue jeans. You should research several markets and find products that are in high demand, then seek out a reliable supplier to partner with. 

At least in the early days, you should be able to work from home, as your minimal inventory will not require a warehouse. Before you start trading, however, you’ll need to make sure you’ve crossed all the bureaucratic hurdles, such as getting the appropriate licenses and permits and preparing to pay the relevant taxes and tariffs. Finally, you’ll need to create a strong marketing plan and start promoting your goods to potential customers, online and off. With a little hard work and perseverance, you can succeed in the import export business!

3. Real Estate Investment

how to start a real estate business

While the pandemic destroyed many industries, it drove the real estate market into a record-setting boom, as millions of people sought to secure a safe long-term home or move out of crowded cities, creating a $500 billion industry. US real estate prices hit record highs in 2021 and the strong market has held steady in 2022, so now is a great time to get in on the boom, help people find the home of their dreams and make a good living at the same time.  

When it comes to making money, real estate ranks among the more sound investments because a piece of property is almost guaranteed to appreciate over time. If you’re looking to get into the real estate game, you should know that it’s probably not as hard as you think. If you’re looking to be an agent or broker, you’ll need to do some studying and get your real estate license. But if you’re more interested in investment and possibility property management, no training or certification is required. What is required is a significant amount of capital and a good eye for value. 

You could start by researching your local market. When you see a home or two offered at below-market rates, that may be opportunity calling your name. But be sure to do your due diligence before taking the plunge and starting a real estate investment business.

4. Tour Guide

Tour Business

Do you love to travel and see new places? Why not start your own tour business? It’s a lot of work, but it can be a very rewarding endeavor. The US tour industry was expected to recover in 2021 after total revenue fell below $6 billion in 2020 due to the pandemic.
Earnings were predicted to increase to more than $8 billion in 2022 due to pent-up demand for travel. Both land and air borders of the US have been reopened to vaccinated tourists. 

Tour operators are primarily responsible for arranging tour packages that they offer to tourists and travel agencies. Because of the pandemic, demand is rising for tour packages in the countryside, national parks and the outdoors. Before you can start operating, you need to pick a niche, choose your target demographics, and understand the competition. You also have to familiarize yourself with the laws and regulations, such as the seller of travel laws, that tour operators, travel agencies and other tourism-related businesses must follow.

5. Heavy Equipment Business

How to Start an Equipment Rental Business

Now that the economy is recovering and construction activities are picking up, starting a heavy equipment business is a good idea. Heavy equipment refers to heavy-duty vehicles designed mostly for use in construction, especially earthwork operations. The US construction industry is expected to boom at all levels and the construction equipment market is anticipated to grow 6% per year through 2027. 

Before starting your heavy equipment business, make sure first that you have the capital for your inventory and the permits required for your operations. You’ll have greater chances of succeeding if you study the market, find a niche that you can dominate, and carefully select the brands that you will carry. Unless you simply distribute known heavy equipment brands, you’ll need to be creative with your marketing and target the right prospective clients. Starting a heavy equipment business can be a daunting task. But, with the right planning and execution, it can be a lucrative and exciting venture.

6. Daycare Center

How to start a daycare business

Do you love spending time with young children? If so, a daycare business could be the perfect venture for you. Busy parents often need childcare services while at work, so you would be providing a crucial service while spending your day with toddlers.   

You’ll need to acquire daycare certification, which usually entails a relevant or at least two years caring for children. You’ll also need to find a good-sized space, preferably in a residential area with minimal competition. And you should outfit it with lots of toys, drawing materials, high chairs, cribs, and more, and get yourself some good insurance, because little kids tend to find trouble. 

Once all that’s done, you’ll just need an appealing website and a decent marketing campaign, and you’ll be off and running.

7. Restaurant

How to start a restaurant business

So you’ve decided to start a restaurant business. Congratulations! Opening a restaurant is no easy task, but it can be very lucrative. The food service industry in the US is expected to bounce back from pandemic slump due to pent-up demand and generate $900 billion in sales in 2022. 

The pandemic, however, has reshaped the industry and many restaurant operators believe it would take a year or more before business conditions return to normal. But if you’re keeping track of the trends, you would establish a digital presence and work on offering delivery services before opening your doors.  

There are many other things 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 specialize in a certain cuisine? 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.

8. Homeschool Business

Homeschool

If you’re an educator or counselor looking for a new opportunity, starting a homeschool business may be the perfect business for you. Homeschooling, which is legal in all 50 states, saw tremendous growth in the last two years because of the pandemic. The number of US households that were homeschooling at the start of the 2020-2021 school year doubled compared to the prior year. The pandemic may be waning, but people’s interest in homeschooling and other alternative school arrangements is still on an upward trend because of the high cost of private schools and the wealth of learning materials available online. 

Before you can start promoting your services, you need to apply for the necessary permits and licenses. The requirements may vary depending on where you are setting up your business, so it’s best to check out the local regulations. Your curriculum must also meet the state’s requirements, although it can be tailored to each child’s individual needs and your own personal philosophy on education. This allows for a lot of flexibility. To market your business, it is important that you build a network of homeschooling families. With careful planning and hard work, you can create a successful homeschool business that provides quality education and enrichment opportunities for children!

9. Shoe Store

How to start a shoe store business

Are you always checking out the shoes that people wear? Or maybe you have thousands of pairs in your closet. If you love shoes, as many people do, why not start a shoe store business? Shoe stores in the US are poised for a rebound due to pent up demand and rising consumer spending. The industry is estimated to be worth $42 billion and expected to post strong growth in the next five years. 

The first thing to do is to scout for a good location for your shoe store. It has to be accessible and located in an area with high foot traffic. Next, you will need to come up with a business plan to identify your target market, find reliable suppliers, choose the brands that you will carry, and more. Your business plan should include a strategy to promote your business through traditional and digital channels. There will be bumps along the way, but your shoe store business can succeed with your hard work and determination.

10. Apple Orchard

Apple Orchard

If you’re thinking about tapping into the lucrative apple industry, consider starting your own apple orchard business. Despite the pandemic, total US apple production for the 2021-2022 crop year was expected to increase and surpass 265 million bushels. Demand is expected to be stable as apples are among the most consumed fruits in the US and more Americans are becoming aware of including fruits in a healthy diet. 

Before you can start your business, you should first decide what type of apples you plan on growing, how big the farm will be and where it will be located. You can easily check which states are best for growing apples. Apple orchards cover a wide range of activities such as tree planting, tree care, and agriculture. Besides selling the fresh fruits, you can also make extra income by opening your apple orchard to families seeking to bond over apple picking and tourists wanting to experience this popular activity. Apple picking is fun, Instagram-worthy and pickers get to make apple pies, apple juice and more.