Best 20 Most Profitable Small Business Ideas in Vermont

Do you want to start a business in Vermont? If yes, find here a stepwise guide to starting a small business with a list of top profitable small business ideas in Vermont that can be started with little money.

The growing economy of Vermont majorly revolves around manufacturing, IT, agriculture, and tourism. The government actively participates in different activities to attract tourists year-round. Large farms in Vermont generate a sizeable portion of the economy. Vermont also ranked first in the construction of new energy-efficient homes. The state has experienced the growth of different industries around developing technologies.

Vermont’s economy currently is into the manufacturing of artisan foods, fancy foods, and novelty. Internet and technology have played an important role in helping people run small businesses from home successfully. If you wish to start a small business from home, here’s a complete guide on how you can start a successful business in Vermont.

List of 20 Small Business Ideas in Vermont

1. Specialty Food Products

Vermont is renowned for its local food and agricultural products. You can consider starting a business focused on producing and selling specialty food items such as maple syrup, artisanal cheese, craft beer, organic produce, or farm-to-table products. Furthermore, you can cater to the growing demand for locally sourced and high-quality food products.

2. Eco-Tourism and Outdoor Adventures

Vermont is a prime destination for outdoor enthusiasts for its picturesque landscapes, hiking trails, ski resorts, and lakes. You can think of starting an eco-tourism business that offers guided tours, outdoor adventure experiences, camping excursions, or nature retreats.

3. Freelance Writing Services

Being a content writer, you can explore multiple domains. While you can write from anywhere you want, freelance writing offers you the advantage to experiment with the assignments you take up. The content may vary from websites to reports to journals to press releases and whatnot.

4. Sustainable Living and Renewable Energy

Vermont is dedicated to environmental sustainability and renewable energy. Start a company that sells environmentally friendly products or services, such as solar panel installation, energy-efficient house solutions, sustainable home construction, or green consulting services. Assist individuals and businesses in implementing sustainable practices and reducing their carbon impact.

5. Start a Bed & Breakfast Business

Tourism plays an important role in Vermont’s economy. With some of the largest ski areas in New England, Vermont is a top tourist spot among Americans and even international tourists. The huge tourism industry in the state offers a potential market for lodging via the bed and breakfast business.

6. Dairy Farming

Dairy farming remains a primary source of agricultural income in Vermont. While the business has seen a little down over the last few years, dairy farming in Vermont still is a profitable proposition. If you own a farm or plan to rent one, dairy farming can be a successful business.

7. Start a Review Blog

Three out of five online buyers depend on in-depth product reviews before making any purchase. You can opt to offer in-depth honest product reviews by buying the product yourself and using it thoroughly. You can create a review blog with detailed reviews on different products that can help you earn from ads, and you can also partner with brands for endorsements and affiliates.

8. Online Tech Support

If you have any technical skills, use them to make money. Companies often need tech experts who can offer technical services remotely. You will need to stay active for a fixed time and help your clients sort out technical problems. You will be paid either with a fixed amount or on a per-assignment basis.

9. Survey Sites

A growing business worldwide, companies now have comprehensive feedback on how their services and products. Surveys provide companies with an opportunity to better their offerings.

Check these legit survey sites offering part-time job opportunities.

10. Open a Yoga Studio in Vermont

Health enthusiasts are now opting for yoga over the gym or outdoor sports. Yoga remains a top choice among the people in Vermont. You can opt to offer yoga services by hiring an instructor. You can also go for a complete yoga course on your own to become a licensed trainer. Before you start on your own, have a few days of working experience.

11. Social Media Marketing Business

Companies now look for different mediums of social media to promote their products and services. You can turn your social media skills into a full-fledged business. Businesses now need specialized social media marketing services to bring in new customers. Either you can choose to handle their social media accounts or help them with their online marketing campaigns.

12. Microbrewery

Vermont has a popular and thriving drinking culture. While traditional beers remain a favorite among locals, people are now trying out new types of crafted beer. Starting a brewery would require a sizeable investment, but you can choose to finance it and will be worth it. You can sell your own produced beer at your bar or can bottle it to sell it to other bars.

13. Event Planning Services

A growing business in Vermont, businesses, and even individuals now want planners for their events. After working with a local event planning company for a few months or years,  consider starting as an independent event planner. You can either operate in your locality or start with a team to offer everything starting from food, design, and logistics to promotions.

14. Financial Advisor

Vermont remains an important financial center. Being a hub for major foreign investments, often companies and individuals require financial advice. You can offer financial services like financial advice, investment options, fund management, and more. If you are not a professional, go for an online course and then work for any financial firm for a few months before you start your own.

15. Art Gallery

You can open an art gallery in Vermont. Consider showcasing and selling works of local artists.

16. Artisanal Food Products

Create and sell artisanal food products. It can be homemade jams, sauces, chocolates, or specialty cheeses, using local ingredients.

17. Virtual Assistant Services

Consider providing virtual assistant services to busy professionals and entrepreneurs. You can offer administrative support, organization, and remote assistance services.

18. Artisanal Crafts and Handmade Products

It is a fact that Vermont has a thriving artisanal community. You can consider starting a business that focuses on handmade crafts, artwork, pottery, woodworking, jewelry, or textiles. Moreover, consider selling your products through local galleries, craft fairs, and online marketplaces, or establish your own retail space to showcase Vermont’s artistic talent.

19. Farm-to-Table Restaurant or Food Truck

Vermont has a strong agricultural heritage and a local food movement. Hence, it makes an ideal place to start a farm-to-table restaurant or food truck. Focus on locally sourced ingredients, and seasonal menus, and support local farmers.

20. Moving Company

Taking the whole United States into account, on average, an American has to move more than 12 times in his or her lifetime. That’s a wide potential market for all movers and packers. Vermont too has a good population to offer moving services helping people to move their belongings from one place to another.

How to Start a Business in Vermont

If you want to legally start a business in Vermont, follow the given steps:

Step 1. Choose a Business

This is the first and most important step in starting a successful business.  Check out the above small businesses that require low or almost no investment.

Step 2. Create a Business Plan

After you pick an idea, start working on a business plan. It plays very important for any new business. Vermont has a competitive market, so you will need a well-detailed plan. Start with the finances, business model, goals, targets, and how you wish to proceed with the business.

Step 3. Financing Your Business

There are multiple investors and venture capital firms in the state. If your idea is unique, you may land up with an investment. In case you wish to fund your own business, there are some of the best business loans available with long-term payback options at affordable rates.

Step 4. Naming Your Business

You will need an official name for your business. Register your business name with the US trademark department and buy a domain immediately. You can opt to use a business name generator to look for some suggestions.

Step 5. Choosing a Business Structure

You have to register your business in Vermont by choosing a structure to be legally operational. You can choose between a sole proprietorship, partnership, corporation, and LLC. If you form an LLC, you can enjoy added legal benefits and tax deductions.

Step 6. Federal EIN & Tax Filing

Now you need to apply for a Federal EIN at the IRS. The EIN will act as a social security number for your business. You can visit the official site of the Vermont Department of Taxes for further details.

Step 7. Procure Business Permits & Licenses in Vermont

You may need some of the special licenses, which are applicable to different cities in Vermont. Make sure you go through all the local legal responsibilities and common licenses applicable. These may include a sales tax license if you want to sell products in Vermont.

Step 8. Business Bank Account & Accounting Software

Apply for a business bank account with your EIN. A separate bank account will make sure that all your transactions remain in a classified manner. Now you need to set up an accounting method for your business. Choose reliable accounting software so that you can maintain all your business transactions in a single place.

Step 9. Business Insurance

Vermont has no such mandatory insurance applicable. Check with your local government to ensure that you are following all the standard security measures. Buy a professional liability policy in case you sell services and worker’s compensation insurance for employees.

Step 10. Promoting Your Business in Vermont

Finally, you need to promote your business once it’s ready. Taking the business to a potential audience is important. You have to market properly to bring in customers and generate business. Hire an agency so that you leave no stone unturned.

Best Places to Start a Business In Vermont

Choosing the right location is going to determine how your business runs. Here are some of the best places in Vermont to start your business:

• Burlington
• Rutland City
• Essex
• Colchester
• Bennington

Vermont has a very diverse economic climate offering a suitable environment for new businesses. It is really easy to start a new business in Vermont. Follow the guidelines carefully and sequentially to start a successful business from scratch.

Frequently Asked Questions

What resources are available for entrepreneurs in Vermont?

Vermont offers a wide range of financial and mentoring resources for new businesses. It includes small business development centers, local chambers of commerce, business incubators, and access to funding programs and grants. You can take advantage of these resources to get guidance and support for your business.

Is Vermont a business-friendly state?

Vermont is known for its supportive business environment. In addition, it has a strong sense of community and commitment to sustainability. The state also encourages small businesses and offers programs and incentives to promote entrepreneurship.

Are there opportunities for remote or online businesses in Vermont?

Remote work and digital businesses have seen significant growth in Vermont. You can consider starting an online business such as e-commerce, digital marketing services, web design, or online consulting that can serve clients both within and outside the state.

Can I tap into Vermont’s tourism industry?

Vermont’s tourism industry provides ample opportunities for businesses catering to travelers. You can consider partnerships with local tourist attractions, accommodations, or outdoor activity providers to offer bundled services or promote each other’s businesses.