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10 Best Business Ideas In Wyoming

Written by:

Edited by:

Reviewed by: Daniel Javor

Published on October 28, 2022

Updated on November 12, 2022

10 Best Business Ideas In Wyoming

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10 Best Business Ideas In Wyoming

Tourism is a vibrant industry in Wyoming with plenty of business opportunities. Millions of tourists visit the national parks, including Yellowstone, and the Devils Tower geologic formation every year. The state also relies heavily on its mineral extraction, agriculture, and services industries. 

To corner a share of the huge tourism receipts, you could start a travel agency, a food truck, or a vending machine business. Other opportunities include a homeschool, nutrition, and mechanic business. Check out our list of business ideas in Wyoming below.

1. Mechanic Shop

How to start a car repair shop

As the economy improves, car owners in the US are likely to seek repairs that were delayed by pandemic measures. If you’re an entrepreneur with a good grasp of automotive parts and functions, now is the time to start a mechanic business. Nearly 70,000 job openings for automotive service technicians and mechanics are projected on average every year through 2030. To get a share of this lucrative market, you will need to keep up with the latest technologies, diagnostic software and tools to assess vehicles.

Before launching your business, you will need to check out the licensing and zoning requirements. Generally, a mechanic needs to finish high school and undergo an in-depth training or certification program. Once you comply with government regulations, it is important to research ways to differentiate yourself from the competition. Remember that there are hundreds of thousands of repair shops across the country. Although the industry seems to be saturated, there are still many ways for you to succeed. An option is to find an underserved location, set up your shop there, and work very hard.

2. Food Truck

How to start a food truck business

Who doesn’t love food trucks? They seem to be everywhere these days, at parks and street fairs, music festivals, beaches, private parties and community events. Industry revenue in the US tripled in the years before the pandemic, and now food trucks are coming back strong as the pandemic recedes. Now’s a great time to start your own food truck business and provide your community with delicious meals while grabbing a share of this growing market. 

The first step, of course, will be settling on a menu. The possibilities are endless, from burritos to barbecue, from burgers to sausages, and from smoothies and milkshakes to pad thai and pizza. You could even go seasonal, and offer frozen desserts in summer and gourmet soups in winter, and be able to draw a crowd year-round. The next major hurdle will be acquiring the necessary licenses and permits, which are absolutely crucial for any food-related business. 

Last but not least, you will need the food truck itself. It’s sure to be a significant investment, but you might be able to find a reasonably priced used truck to keep costs low. With a little luck, soon enough you’ll be up and running and making a nice return on that investment.

3. 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!

4. Diamond Jewellery Store

Diamond Jewelry

Diamonds are shining brighter as jewelry sales quickly rebounded with double-digit growth from pandemic decline. The mining and cutting segments also posted higher earnings. If you’re thinking about starting a diamond business, you’re on the right track. Global demand for diamonds is expected to remain robust, with jewelry sales growing 3% per year through 2027 and top suppliers De Beers and Alrosa reporting financial gains. This strong demand is driving prices up in the US.

To get started, you will need to choose your niche. Are you going to focus on natural-mined or lab-grown diamonds? Which segment are you targeting – cutting and polishing, or retail? You also need to check out federal and state regulations concerning the diamond industry, especially on rough diamonds trade. Next, make sure you have the necessary resources in place, such as capital and space to operate your business. Finally, market your business and create a brand that customers will trust. With the right planning, you can be successful.

5. Soap Making

How to start a soap making business

Who doesn’t use soap? We all do, which is why soap is a $42 billion industry in the US. Also, if you enjoy crafts, soap making is a fun and creative process. You’ll need a handful of key tools, but for the most part it’s also inexpensive. 

Competition is fierce in the soap game, so the key to starting a successful soap business is creating a product that stands out. Maybe you’ll be able to hit on a soap recipe that delivers incredibly pleasant smells, or discover a way to make soap that keeps skin silky smooth. There are countless ingredients you might use, and a variety of soap making methods to choose from, so you’ll need to do your research and probably some trial and error.

But once you find that fantastic soap, it could be the seed of your sudsy success.

6. Travel Agency

How to start a travel agency business

Do you love to travel? Are you always planning your next vacation? Why not start your own travel agency business? It’s a great way to share your love of travel with others, and it can be a very lucrative business. Travel agencies in the US are expected to rebound strongly from pandemic slump and see a 38% increase in revenue in 2022 due to pent-up demand. The market is predicted to grow steadily through 2026.  

If you have the resources, starting a travel agency business can be a breeze. But first, you need to identify your target market. Will you be focusing on domestic or international travel? A lot of Americans are going on overnight trips for vacations or business purposes, providing an opportunity for travel agencies to earn money. Arranging trips for international visitors is also possible now that the US has eased travel requirements. Once you find your niche and draw up a business plan, you should work on establishing your brand and promoting it to find clients.

7. Tour Guide Business

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.

8. Phone Case Store

How to start a phone case business

Four out of five people in the world, 6.4 billion in all, use mobile phones, and that number gets bigger everyday. Because smartphones are so pricey, most people choose to protect their investment with a reliable phone case. This is why the global phone case market is worth $20 billion and expected to see strong growth in the years ahead. You could start your own phone case business, create appealing designs for discerning smartphone owners, and grab a share of that market while making a good living. 

You can even work from home. All you need is a good phone case mold, the right supplies and a decent website and you can start making sales. You will, however, need to decide on your product line. Will you go with brightly colored cases, cartoon character cases, cases that double as wallets, or all of the above? A good way to make your decision is to look at the competition online and find a market gap, a type of phone case that might not yet be widely available. 

If you can do that, and get your business off the ground with strong marketing, you have a good chance of seeing strong demand in the near future.

9. Vending Machine

How to start a vending machine business

Vending machines are everywhere, from hospitals to train stations, and from schools to offices, special events and more. But have you ever wondered how much money there is in vending machines? Potentially, there’s a lot. It’s a $9 billion industry that’s expected to see strong growth in the coming years. So you could start your vending machine business right now and grab a share of that market while giving yourself a steady stream of nearly passive income. 

It requires a sizable investment to buy that first machine or two and get started, but it’s a fairly low-risk venture. As long as you’re able to put your machines in locations with steady foot traffic, you should do decent business. A key decision will be the products you choose to offer; you could focus on candy and chips, soft drinks, or healthier options like trail mix and granola bars. Once that’s done, you’ll basically be able to sit back and watch your vending machine empire grow.

10. Nutrition Consultation

How to start a nutrition business

Obsessed with counting calories? If so, a nutrition business might be perfect for you. Nearly 6,000 dietitians and nutritionists are needed each year through 2030 in hospitals, nursing homes, clinics, and government offices across the US. Globally, the billion-dollar human nutrition market is expected to continue growing due to rising health awareness among consumers and the surging demand for dietary supplements. 

If you’ve been thinking about starting your own nutrition business, there are several ways to do it. You may provide outsourced services to hospitals and nursing homes, or set up your own nutrition center and be your own boss. You just need to check out the licensing requirements and government regulations before you start operating. Pick a niche and stick to it, whether it’s dietary supplements, food and beverages, or infant nutrition. If you’re passionate about what you do and dedicated to helping others achieve their nutritional and other health goals, you’ll find your nutrition business fulfilling and financially rewarding at the same time.