15 Best Business Ideas in New Hampshire

New Hampshire is a New England state with large manufacturing, aerospace and defense, life sciences, and tech sectors. It’s recovering well from the pandemic and its outlook is strong — so now’s a great time to start your entrepreneurial journey in the “Live Free or Die” state.

You could get into import-export, heavy equipment, real estate, or manufacturing. There’s always demand for food and shoes and tourism as well. Check our list of excellent New Hampshire business ideas to jumpstart your thinking.

1. Real Estate

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 homes and 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.

2. Manufacturing

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.

3. Graphic Design

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.

4. Health Care

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.

5. Wholesale

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.

6. Manufacturing

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.

7. 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 Middle Eastern spices or Chinese vases. Research several markets and find products in high demand, then seek out a reliable supplier.

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!

8. Real Estate Investment

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.

9. Tour Guide

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 is recovering, taking in more than $8 billion in 2022 due to pent-up demand. 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. Demand is up 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.

10. Heavy Equipment 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 set 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, 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.

11. Daycare Center

Do you love spending time with kids? 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.

12. Restaurant

If you’re looking to open a restaurant, you’re not alone. Americans love to dine out, which explains the steady increase in the number of full-service restaurants. With the lifting of pandemic restrictions, restaurant revenue is expected to return to pre-pandemic growth and approach $900 billion in 2022.

Before you can launch your restaurant, you’ll need to comply with the licensing and regulatory requirements, find a suitable location, and secure enough funding. It’s also important to decide on the concept and theme of your restaurant. Do you prefer casual or fine dining? It’s a good idea to identify your target market and come up with a good marketing plan in order to survive in this highly competitive industry. 

Once you open, it’s important to be prepared for potentially long hours. Always making sure to serve the perfect dish and that your customers enjoy their dining experience can spell the difference for your restaurant.

13. Homeschool Business

If you’re an educator or counselor looking for a new opportunity, starting a homeschool business may be the perfect venture. Homeschooling, which is legal in all 50 states, has doubled in the last few years because of the pandemic. 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 launch, you’ll 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!

14. Shoe Store

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 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.

15. Apple Orchard

If you’re thinking of tapping into the lucrative fruit industry, consider your own apple orchard. 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. New Hampshire is a great state for growing apples, with the ideal climate. Apple orchards cover a wide range of activities such as tree planting, tree care, and agriculture.

Besides selling the fresh fruits, you could make extra income by opening your orchard to apple picking and other tourist activities. Apple picking is fun, Instagram-worthy and pickers get to make apple pies, apple cider and more.