10 business ideas to start in Tennessee
En Hispanic Entrepreneurs we identify ten business ideas to start in Tennessee that will interest you. If you have in mind to become the owner of your own company, be sure to review this list.
Doing business in Tennessee is an excellent alternative if you are determined to start a business. It is one of one of the states with the most business activity in the country. Each city has organizations willing to offer advice and financing to small entrepreneurs. Added to this is the fairly reasonable cost of living and the advantage of having one of the lowest tax burdens.
These are some of the reasons to invest in Tennessee, but you will find many more if you keep digging. Not only is it a state friendly to small entrepreneurs, but there are opportunities in different industries.
The base of the economy in the state is the automotive industry, along with health services. For which new companies related to these sectors would have a good boost. Tourism, entertainment and new technologies also offer opportunities for investors.
Availability of resources for entrepreneurs
Several Tennessee cities, like Clarksville and Nashville, have been recognized among the best startups in America.
These are cities where population growth in recent years has been significant. And in which, in addition to this, the necessary resources have been identified to start a business and take it beyond the initial stage.
The successful businesses in the United States they carry behind constant work; as well as the support of organizations that offer advice, connections with other entrepreneurs, financing programs; among other resources.
As an entrepreneur you must study the needs of the moment to find the ideal business in which you want to invest. We must also recognize that opportunities arise from crises and if your idea is to have your own business, this may be the time to try it.
10 business ideas to start in Tennessee
The small and medium-sized entrepreneur looks to Tennessee's strong and reliable economy to start his business. But, first you must decide what to invest in the USA, especially what opportunities this southern state offers.
1. Restaurants and food services
Having a restaurant is a great business idea. With cities like Memphis, Nashville and Chattanooga, where tourism is one of the main activities, it would benefit from the constant arrival of visitors. In addition, the locals also like to enjoy a good meal away from home.
To open a successful restaurant there are many factors to consider. For example, the type of food to be sold, the location, and the permits needed. The initial investment is important, you must save for paperwork, equipment and premises.
Other food services such as food trucks and catering also offer good opportunities.
A couple of considerations to keep at this point is include delivery and store collection services. The changes in habit that the pandemic has generated force businesses to re-evaluate so they can overcome the crisis. And in the case of restaurants, this means that customers can order their favorite food and enjoy it at home.
2. Restaurant providers
Becoming a restaurant provider is also a business opportunity. And you have a wide range of products to offer, including equipment to operate on, prepared food or menu ingredients.
One of the advantages is that you can operate from home or have your own office, depending on resources and your preference. Choose an area that you know well. For example, if you are a bakery and pastry specialist, you can offer the ready products to restaurants and other businesses in the area.
3. Bed and Breakfast
Take advantage of the boost given by tourism and offer accommodation to visitors in a Bed and Breakfast. If you have enough space in your house you can adapt it and start your business right there.
You can also invest in another property to offer more comfort to travelers. Just like the previous cases you have to check what are the requirements that the law demands. In addition, you will have to adapt the areas of the house, kitchen equipment, adapt the rooms and buy mattresses, pillows, towels, etc.
Likewise, you must make sure that you comply with all the cleaning and disinfection requirements of the areas. Check the protocols established for this type of business.
4 Cleaning services
There are very busy people who need help in their home or office. You can offer services to clean homes, premises or offices. The investment you will have to make in this case is less than in the previous ones.
You can also specialize in other areas of this sector, such as laundry or carpet cleaning.
The demand for these services has tripled in 2020 due to covid-19, making it one of the business ideas to start in Tennessee to consider.
5. Barbershop
Barbershops and beauty salons are necessary in any city. It is a type of business that will always be in demand. To open yours you will need knowledge in the area or hire people with the required experience. You will have to invest in equipment and get a well-located location to attract more customers.
6. Second hand stores
Buying second-hand items and reselling them can bring good income. It is another business that can operate at home or locally. There are people who like to renovate their homes from time to time or who are in the process of moving and have valuable objects that will help you for your venture. Attract their attention by promoting yourself on the Internet.
7. Car wash service
In a state where the automotive industry is so important, services related to this area are also necessary. Car washing is one of them, although it will require investing in equipment to begin with.
If you have the resources to start, consider it among your business ideas to start in Tennessee.
8. Tourist services
Once again we refer to tourism as a business opportunity. In this case, if you like to organize trips and are good at planning itineraries, you can offer tourist services in the state. Get a team that knows the city where you settle and take visitors to relevant places.
9 Online stores
The Internet brings with it many business possibilities. Having an online store is one of them, especially these times when most purchases are made online. You will be able to work from home and manage your time better. Research the market to define the type of store and the products you will offer.
The boost e-commerce received this year is immense, it far exceeded expectations due to the fact that physical stores were closed for a while; and when opening there are still restrictions such as the number of people who can enter at the same time. So it is easier and faster to buy from home.
10. Repair services
The last of the business opportunities in Tennessee that we will mention has to do with repairs, especially in the area of technology and computing. You must stay updated to offer these services. The demand is high and includes companies and individuals.
Undertaking in times of crisis
Above we mentioned that moments of crisis open the doors to new opportunities, and it's your time to check it out. Take a good look at the market and its needs, as well as the forms of financing and economic aid that are being offered.
The businesses can overcome the pandemic if their owners act wisely, for example identifying new forms of income and saving on costs. If you own a gym and your subscriptions are down or you have to stay closed, offer personalized advice online.
In each niche you will find a way to adapt to the circumstances.
What do you think of these business ideas to start in Tennessee? If you think we need to add more opportunities to this list, leave us a comment.