Home Business Ideas 13 Best Business and Investment Opportunities in Idaho

13 Best Business and Investment Opportunities in Idaho

Whether it is real estate, agriculture, tourism, energy, or healthcare, choose an industry that aligns with your expertise and experience.

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Best business opportunities in Idaho
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Are you looking for business and investment opportunities best for residents of Idaho? Idaho also known as the Gem State is a beautiful state with a booming economy and countless business opportunities.

According to CNBC, Idaho is ranked #20 in America’s top states for business for 2022. The state has a friendly environment with a relatively low cost of doing business.

Here are 13 business and investment opportunities available in Idaho.

1. Real estate 

Investing in the real estate market is one of the business opportunities you can start in Idaho. As the state is rapidly growing, the demand for real estate is also increasing making it a good business to invest in.

You will be required to get a license before you can become a real estate agent. Your area of specialization could be residential or commercial real estate. Choose places with high growth potential for fast sales.

Real estate in Idaho, especially in the capital city Boise is undergoing noticeable transformation and there is an increased demand for residential and commercial buildings.

2. Agriculture and food production

One of the best business opportunities to venture into in Idaho is agriculture and food production. 

According to Americasheartland.org, there are over 24,500 farms in Idaho with over 144 commodities produced. Idaho produces a variety of crops, seeds, livestock, wine and dairy products. If you have an interest in food production, you can start a thriving business in this sector.

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3. Tourism

The tourism industry in Idaho is a billion-dollar industry. The gem state attracts thousands of tourists every year. One of the best business opportunities you can invest in Idaho is tourism.

You could provide lodging, transportation services or restaurants to tourists. If you have an apartment or extra space, you could offer vacation rentals to tourists.

4. Energy

Idaho spends less on the energy sector than other states because they are committed to providing energy from natural sources. If you have vast knowledge about technology and energy production, you could invest in this sector.

5. Outdoor recreation

Idaho is famous for its outdoor recreation spaces. You can start a thriving business providing outdoor recreation services like guided hiking, fishing, and swimming. Alternatively, you may specialize in manufacturing outdoor recreation equipment and technology.

6. Marketing consulting

Becoming a marketing consultant is one of the best business opportunities in Idaho now. A lot of businesses are looking for ways to improve and expand their reach. You could start a marketing agency that specializes in offering digital strategies and consultations to help these businesses.

Reach out to them through adverts and outreaches and grow your reputation by offering valuable consultations.

7. Plumbing business

There is a huge demand for experienced plumbers in Idaho, so a plumbing business is one of the best you can start in the Gem State.

A plumber’s license is needed to perform any plumbing work in Idaho. You get a plumbing license, after sitting for and passing an exam issued by the division of building safety.

8. Retail of electronics and computers

According to statistics, the largest industry in Idaho is the science and technology industry. 

Idaho is one of the American States where electronics and computers are being produced. Two leading technology companies, Micron Technology and Hewlett-Packard (HP) are based in the Gem State.

You can open an electronic shop in Idaho where these gadgets will be sold or even shipped abroad. Just because of the proximity to the manufacturing companies, you would be able to get these gadgets at low prices and make huge profits from sales.

9. Potato farming

Idaho is the largest producer of potatoes in the United States. The potatoes from Idaho are in high demand because of their great quality.

Idaho’s potatoes are much better than other American States because of their growing season, careful irrigation and rich soils. 

All these factors work together to produce potatoes with unique texture and taste that makes customers keep demanding more. 

This is why in Idaho, one of the best business opportunities you can invest in is potato farming. The state shares boundaries with other American States like Wyoming, Nevada, Utah, Washington and Oregon, and there is great demand for potatoes. You can also begin a potatoes exporting business with huge potential returns.

10. Rug cleaning business

You can start a rug cleaning business with little money. Starting a cleaning business in Idaho is not that hard. What is needed is a vacuum, cleaning supplies and a brush. Secure a strategic location where there’s a high demand for your service. 

Invest in local advertising and referral services to grow your business.

11. Beauty supply store

Consider starting a beauty supply store to cater to the cosmetic needs of the local people in Idaho. Be abreast of market trends and stock products that are in high demand. You will also need to obtain a license.

Ensure to stock and sell approved cosmetics that are in good condition and safe to use.

12. Manufacturing

One of the best business and investment opportunities in Idaho is the manufacturing business. Some of the top commodities being manufactured in Idaho are electrical components, wood, chemicals, machinery, etc.  

You can choose from any sector to start a manufacturing business. Conduct thorough research on the supply chain and logistics involved. 

Find a suitable location with access to good transportation. Ensure compliance with all manufacturing rules and regulations.

13. Healthcare

Statistics show that Idaho is one of the states with the worst healthcare system. The residents of the state experience more difficulty in getting good healthcare.

If you are a health professional, consider starting your healthcare agency. The healthcare industry in Idaho has an increasing demand for home health workers. 

You can focus on remote locations and underserved populations for increased patronage. It is important to comply with state health regulations and obtain the required licenses.

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Conclusion

We have considered the best business and investment opportunities you can start in Idaho.

Whether it is real estate, agriculture, tourism, energy, or healthcare, choose an industry that aligns with your expertise and experience.

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Deborah Awe is a trained Pharmacists, writer and contributor at EntrepreneurBusinessBlog.com. Deborah covers everything business and marketing ideas in this blog. You can connect with her via email, [email protected].

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