Do you want to start a business in Maine? But not sure about which one to start? If yes, you have landed at the right place. Here in this article, you will find a list of the most profitable business ideas in Maine and a complete guide to starting a business here in this state.
With a huge market for growing small businesses, Maine offers a very stable economic development. Business-friendly laws and supportive governmental regulations offer vast opportunities for new businesses in Maine. Maine has a very structured tax filing format in the United States making it easy for a business to operate without any hassle.
The state is known to produce chiefly agro-based products, paper, lumber, wood products, electronic equipment, leather, food, and textiles with tourism being a major contributor to Maine’s economy. If you are planning to start a small business in the state, here’s a complete guide on how to start a profitable business in Maine and the best opportunities with low money.
20 Small Business Ideas in Maine
Find below our selected list of best profitable business ideas in Maine that can be started from home or on small scale:
1. Blueberry Farming
Maine is the number one producer of blueberries in the United States with a huge market for exports. If you are interested in farming, blueberry farming is worth considering.
2. Fishing Business
Commercial fishing is huge in Maine. You can start a lobstering and groundfishing business in the state.
3. Agriculture Farm
Agriculture is a livelihood for a sizeable population in Maine. Maine is the main supplier of many agro-based products in the domestic as well as the international market. If you have vacant land, starting an agriculture business can bring you good profits.
4. Gas Station & Convenience Store
The gas station business has a huge potential in Maine. You can start your own or buy a franchise of a reputed gas station company. To make more money, you can add a convenience store providing food and beverage items to customers coming to refuel their vehicles.
5. Make Leather Items
Maine is a huge exporter of leather goods. The entire leather business ecosystem will ensure getting raw materials at a much fair price in this part of the United States.
6. Consignment Store
The consignment store can be highly profitable in Maine. Though the market is a little competitive, still there are a lot of scopes as the demand is much more than the supply.
7. Packaging Design Business
Companies often look for visual graphics to make their product packaging interesting. The business will include designing packages for distribution and use.
8. Notary Business
The business will involve a notary public to act as a certified and legal witness. You have to offer services like a signature in exchange for proof of identification like contracts and mortgages.
9. Daycare Services
With so many working couples in Maine, there are several families looking for professionals who can take care of young and older ones.
10. Sell Online Courses
A growing business worldwide, you can offer courses online from your home. The eLearning industry has seen a major boost in the last few years.
Suggested Read: How to Create an Online Course
11. Niche Blog
Unlike a news website or some authority website, you can choose a niche subject like movies or basketball for a website business. Check our detailed guide on starting a blog and making money to learn more.
12. Nail Salon
The nail salon business will involve offering manicures, pedicures, and different nail services at a salon or via a home visit.
13. Freelance Writing Services
You can write for different publications and companies from home. As a freelance writer, you can work flexibly according to your time.
14. Bed & Breakfast Business
With so many visitors to Maine, you can start a bed and breakfast business offering a homely lodge via AirBnB for tourists who look for alternative hotels and motels.
15. Customized Tour Services
Tourism is a major contributor to Maine’s economy offering a potential market for customized tour services.
16. Online Dating Consulting Business
You will offer online consultancy on how people should go with their online dating and social world.
17. Online Magazine
You can create and publish an online edition of yourself with either paid subscription or advertising.
18. Online Survey
If you are looking for a no investment legitimate business from your home in Maine, online survey sites can provide you with an excellent opportunity to earn a side income in your spare time.
19. T-Shirt Printing Business
With a huge market for customized t-shirts in Maine, you can start a business to print and sell t-shirts with the designs your customers choose.
20. Furniture Making Business
Looking for a business in the woodworking industry in Maine? Then consider starting making wooden furniture. This business not only provides a good profit margin but also the demand exists all round the year.
There are a lot of other unique business ideas in Maine that can be generated based on these opportunities. Research and Brainstorm and find one that makes you feel can be successful.
10 Steps To Start A Legal Business In Maine
Follow the given steps to legally start a business in Maine.
Step 1. Choose a Business
The first step is to find the right business idea. According to your expertise and demand, select the business that fits you. The above-mentioned ideas will help you in finding the right business idea.
Step 2. Write a Business Plan
Once you are ready with an idea feasible for you, start working out a business plan immediately. Go through all the possible threats your business can face, chalk out your objectives, and set your goals.
Step 3. Financing A Business In Maine
Maine has a very healthy business environment. You can approach investors or even go for crowdfunding. In case you want to finance your business, there are multiple business financing options available at low rates.
Step 4. Naming Your Business
Find a good name for your business. Try to go for something meaningful and with fewer syllables. As soon as you finalize your name, register it and buy a domain with the same name.
Step 5. Business Registration
You have to register your business in Maine to be legally operational. Either you can go for an LLC or sole proprietorship or a corporation. Registering as an LLC will offer you added tax benefits with no individual legal liability.
Step 6. Business Licenses & Permits You Need In Maine
You have to register your business in Maine with Maine Revenue Services (MRS). If you wish to hire an employee in Maine, you must register with the Maine Department of Labor (DOL).
Step 7. Federal EIN & Tax Filing
Next up you need to obtain a Federal Employer Identification Number (EIN) from the IRS to be legally taxed. You also need an EIN to open a business bank account.
Step 8. Setting Up Business Accounting Method
Buy a good business accounting software for easy management of transactions. With good business accounting software, you can file your annual taxes without any hassle.
Step 9. Business Insurance
Business insurance in Maine is regulated at the state level. You will have to get a worker’s compensation insurance and a professional liability policy in case you are selling services.
Step 10. Promoting A Business In Maine
Once you are finished with the setup, it’s now time to take the word out. Hire an agency or use social media to explicitly promote your new business.
Best Places To Start A Business In Maine
Choosing the right location is going to determine how your business runs. Here are some of the best places in Maine to start your business:
Maine is a business-friendly state in the United States. We hope this business guide will help beginners to start their own business in Maine.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.