Most Profitable Small Business Opportunities in Wyoming
Need good business ideas in Wyoming? Wyoming is a state in the US that has a unique climatology, different from other states in the federation. This unique weather and its formations make Wyoming to be one of the least populous states in the USA.
However, the weather also confers on Wyoming certain natural and man-made endowments that provide ideas that you can exploit as a business-minded individual:
List of Booming Small Scale Businesses and Opportunities in Wyoming
Manufacture of Water Softeners
The climate of Wyoming ensures the abundance of a naturally occurring mineral, trona. It is on record that Wyoming has one of the largest deposits of this mineral in the world. Trona is an essential starter material that is used in the manufacture of water softeners.
You can pursue the production of water softeners on a cost effective scale since your business will be situated in area that is brimming with trona.
Wyoming is a state comprised of Mountain ranges that covers two-thirds of its land mass. The remaining one-third features very high plains. As a result of this dispersion, Wyoming has a number of natural and man-made landmarks.
In addition, there are a number of National parks and interesting historical places that receive visitors every year. National parks and forests include Bridger-Terton National forest and Caribou- Targhee National forest.
In 2015, it is estimated that Wyoming received over 3 million visitors and tourists, who brought in revenue totaling several billions of dollars. You can cash in on this business opportunity by establishing a tourism agency.
Your agency will provide services such as tours and rides to interesting points in Wyoming such as the Jackson-Hole and Gillette. You can also provide hotel reservation and booking services, foreign currency exchange services, Geography and History lessons and other custom demands that tourists may have.
You will need to engage competent hands to help you with running the tourism agency effectively.
Production of Glass
Wyoming is home to the largest known reserves of trona in the world. In 2014, Wyoming accounted for 25 percent of global output of trona, producing approximately 41.7 million tones. Trona is another key material in the production of glass.
With the abundance of trona, you can set up a glass manufacturing facility, taking advantage of the economies of scale of being close to Trona deposit sites. You will need to acquire adequate knowledge in the actual glass production process, procure the necessary glass-making equipment and engage competent/skilled hands to manage the plant.
The state of Wyoming is very supportive of glass making ventures, as the state does not impose any taxes on corporate revenues. You will also be provided with consultancy services and resources to help you export your glass product to the international market.
Production of Soap
Wyoming can also serve as a base for the manufacture of soap, for both bathing and laundry purposes. Again, this is feasible because of the abundance of trona in the state. You can intern at an existing soap making facility in order to garner the experience and expertise required to run a soap making business cost-effectively.
Afterwards you can procure the necessary machinery on a suitable location close to a trona site, engage competent staff as well as obtain adequate financing for the purchase of raw materials and other inputs.
An important part of your business will be the marketing arm, especially as regards exporting your product overseas.
Sale of Diamonds
Wyoming is host to vast amounts of diamond reserves and a lot of mining occurs in the state all year round. While it might not be feasible for you to start mining diamond directly since it is a capital-intensive process, you could partner with miners and wholesalers to obtain the stones at a good discount, if you have the structures to sell them fairly quickly.
Your venture will do really well when you also open an online e-commerce platform that will cater to clients not only in Wyoming but also in other parts of the world.
You can leverage on the abundant supply of trona to start a paper manufacturing business in Wyoming. You can set-up a multi-purpose plant that can produce a whole range of paper based products such as toilet rolls, printing paper, paper pulp amongst others.
In addition to procuring the required machinery and engaging competent hands, you can also take advantage of the resources and advisory services provided by the state of Wyoming to businesses engaged in the production of paper. Do not forget to keep an eye on the international market for the export of your paper products.
Wyoming is one of the leaders in the cultivation and rearing of plants and animals such as hay, wheat, sugar beets, cattle and sheep. The production of wool draws from the rearing of sheep inexpensively.
With help from the state boards of Agriculture in Wyoming, you can receive improved varieties of species of plants and animals to start a farm. You can grow any number of crops as you deem fit, provided you acquire the necessary equipment and engage competent staff to manage this business idea in Wyoming.