Businesses to undertake in Washington DC
If you are looking for a stable economy to develop your own company, it is appropriate to know which businesses to start in Washington DC you can bet In Hispanic Entrepreneurs We explain what ideas are profitable to start your commercial adventure.
Why invest in the District of Columbia?
Washington, DC ranked 32nd on the list for total exports and 38th for imports to the United States in March of this year. In addition, it is the city in which its inhabitants receive the highest annual income per capita according to the Office of Economic Analysis of the Department of Commerce.
Its citizens earn an average of 96.873 dollars, which increases their purchasing power. It has the highest income and minimum wage in the country. It has a significant percentage of Hispanics or people of Latino origin.
It is considered the capital of tourism as it houses the White House, the FBI, the Library of Congress and the Pentagon. As well as the Washington Monument, Arlington National Cemetery and the National Zoo where giant pandas can be seen.
Its economy has had sustained growth, its government supports the creation of businesses. You have facilitated your registration by means of a online system, tax incentives for specific sectors and simplified contracting procedures. Promotes investment by foreign companies.
It is home to more than 100 embassies, important political and economic organizations, 16% of the population speaks more than two languages. On the other hand, its metropolitan area is home to more than 400 associations and a thousand international companies. Additionally, it is the host of 8 professional sports teams, it has three international airports and more than 100 educational institutions, which makes it more attractive.
Businesses to undertake in Washington DC
The service industry and tourism are the main markets of the American capital. But there are other sectors that are in great demand and that also have the support of the government. Study the one that suits you best, we suggest the following:
1-Taxi agency
Being a city with a high volume of traffic due to commercial activities, you can offer a taxi service to serve citizens who do not use public transport. Apart from visitors who only go to renew their documents at embassies and tourists.
Differentiate yourself from the competition by offering routes that are not covered by the Uber and Lyft applications and your knowledge of the city. Register the taxi with the corresponding authority and obtain permission to operate. Another profitable business related to transportation is truck company.
2-Law firm
If you are a legal professional, open your own firm in DC, because it is a sector that enjoys sponsorship. But it is not only limited to lawyers, other professional services such as accounting, engineering, architecture, research, science and technology, etc. also have a market.
3-Tourist guide
Taking advantage of the constant movement of tourists who arrive in the city, he opens a tourism agency and provides a guide service. It is important that you consult the local regulations and study very well everything related to its historical monuments, museums and history.
Travel and tourism consulting is a profitable business largely due to the location of more than 100 embassies in its territory.
4-Accommodation
As it receives many visitors, places are always required to accommodate tourists, whether for a short stay or an extended stay for business. Consider renting a property or a room to foreigners.
On the other hand, if you have enough resources, you could start a small hotel. The hotel business is one of the most prosperous in Washington DC.
5-Restaurant
Take advantage of its diversity and high economic activity to undertake in the gastronomic business. The constant presence of politicians looking for quiet places with exquisite food is a good incentive to open a restaurant. Likewise, local families, tourists and workers need places to eat.
Consider the option of food trucks that are very popular in the capital and have a captive audience that are tourists. Although there is a lot of competition, if you manage to find the right menu you will not have problems.
6-Fitness gym
Residents take care of their health and fitness, they take this very seriously, so much so that it has become the sixth most fit city. This data indicates that it is the perfect place to start a business focused on fitness. There are several ways to offer the service, it can be in a gym, home training or online.
7-Hairdresser
The District of Columbia provides hairdressing facilities and is a profitable business. Start your salon only with a minimum capital, since they do not require permission to operate in the city.
8-Coffee room
This trend adds more followers every day and has appeared in various areas of DC. The fundamental thing will be to put it to work in a well-located and easily accessible site. Try to stock it with many varieties of coffee to make it even more attractive to fans of the drink.
Find a large space that can fit several tables, chairs, and a refrigerator to store your coffee beans.
9-Specialty food store
You can find a grocery store anywhere. Therefore, it is a good idea to stand out by going for one that offers a range of products that are not those that are traditionally sold.
It can be for example wild and organic seafood in all its forms, cheeses from various countries, spices and spice mixes from all over the world, etc.
10-Event planning
With the relative return of normality, the sector has been reactivated and large companies are requiring specialized staff in events. If you have experience in the field, do not hesitate to launch your business to make yourself known, you will see that you will soon have a solid portfolio of clients.
11-Personal chef
This fast-growing business idea has been consolidated in recent years. Beyond earning money you will have the opportunity to deal with interesting people. Personal chefs organize special occasion cookouts, dinner parties, weekly nutrition plans, and cook in private residences.
They even travel to meet special customer requests. You have the alternative of being the chef if you are trained in the area or grouping several of these professionals and promoting their services through your company. There are many courses and information on how to be a chef in usa
12-Spa service
As we mentioned before, the population of DC takes care of their health and well-being, so there are many clients for a spa. Opening one is somewhat complicated because you must meet a series of requirements before the authorities. The important thing is that you provide a service that, the more exotic and unique it is, can give you better results.
When you decide what business to start in the Washington DC area, let us advise you so that you can dedicate yourself to managing your company.