If you are planning to start a business in Wisconsin but are not sure what business to start, you have landed in the right place. Here in this article, we list down the best profitable business ideas in Wisconsin that can be started with low money.
One of the major economies in America, Wisconsin has thoroughly remained a diverse state comprising different businesses across sectors. Being a leading dairy producer, Wisconsin is famous around America for its cheese.
The other major industries in Wisconsin include manufacturing, paper products, information technology, and tourism. With business-friendly policies and laws, Wisconsin has several small businesses doing well in the market.
The internet has strongly helped people to start businesses from home without any major investment. If you wish to start a business from home in Wisconsin, here’s a complete guide on how you can start a successful business.
There can be broadly two ways of starting a business in Wisconsin. Either you can buy a franchise of a reputed brand in Wisconsin or start your own from scratch. It is extremely important to understand your own strengths before selecting which business to start. Based on your resources and local demand, check whether anyone of the following ideas suits you.
List of 12 Small Business Ideas in Wisconsin
Here are some of the top business opportunities in Wisconsin to explore to start your own business with low investment.
1. Online Coaching
The online coaching industry is growing exponentially. While people of every age group are now learning something online, you can teach other people and get paid. From editing photos to playing the guitar or preparing for the SAT, you can start to offer online coaching.
2. Social Media Manager
Companies are now avidly investing in social media to bring in new customers. You can help companies to manage their Facebook, Twitter, or Pinterest and you will be paid to put your expertise to work. You have to create campaigns and use different methods to attract the audience.
3. Tutoring Services
Teaching remains one of the best-paid professions in Wisconsin. There are teachers who are making more than $100 an hour with a few years of experience. If you are good at any subject, you can start to teach online or via offline classes.
4. Cheese Export
Wisconsin is a leading dairy producer. The state is famous around America for its cheese. You can start with dairy farming and then can move to cheese and other dairy products.
5. Food Truck
If you wish to start a food business, a food truck remains a feasible investment. Firstly you don’t need to invest much, and with a food truck, you can move whenever you want to. The investment is relatively low, while you only require a few licenses and a couple of cooks to start your business.
6. Yoga Studio
People in Wisconsin are now finding better alternatives to stay fit. After the gym and other activities, yoga remains a top choice. You can hire an instructor to start a yoga studio at home. You can even complete a yoga course on your own to become a licensed trainer.
7. Daycare Services
The demand for daycare services in Wisconsin is growing day by day. There an only a few limited daycare facilities. While you can start as an individual, within a short time you can have your own facility. The services are well-paid, and you also get to spend quality time with toddlers and aged people.
8. Career Consultancy
A majority of the working population of Wisconsin is into salary-based jobs. Individuals find it difficult to choose a career path, often they need help to start something. If you are a professional, you can help young people choose a career consultancy and can offer services in the state to help students.
9. Financial Planner
Starting a business on financial planning is one of the most profitable business ideas in Wisconsin, especially for people having experience with financial backgrounds. If you are someone who is good with taxes and finances, it’s time to go professional. Do an online course and get certified to become a certified financial planner.
Start with free advice and gain some experience. Soon you can start to charge your clients to help them save tax and find better investment opportunities. Surely, there will be no shortage of customers for financial planning services in Wisconsin.
There are only a few licensed facilities offering babysitting services in Wisconsin. You can start a babysitting business here in the state of Wisconsin. Start working as an individual before you start a facility on your own. You can charge parents on a per-hour basis. This can be a good side business if you are a student or freelancer.
11. Freelance Writing Services
If you love to write, it’s time that you take freelance writing service business in Wisconsin professionally. You can make good money and with a little experience, you will be paid really well for different assignments. If you are a beginner, start with a blog and then start approaching for work on Fiverr or Upwork.
12. Car Wash Business
There is a good demand for professional car wash services in Wisconsin. This business is easy to start and requires very little money. You can read our detailed guide to starting a car wash business to learn more.
How to Start a Business in Wisconsin
Here is a startup guide to starting a legally compliant business in Wisconsin covering aspects like registration, licenses, and much more.
If you are thinking of starting a business in Wisconsin, you need to follow the following steps:
1. First Select a Business Idea
The very first step is obviously deciding on what business to start. Based on your expertise, resources and local market demand choose a business that is the best fit for you. Explore the above-mentioned business ideas for a starting point.
2. Business Plan
Having a proper business plan is important. This will help your business to perform well under different conditions. Once you start to brainstorm different ideas, start working on a business plan hand in hand. Start with strategies, benchmarks, targets, and the goals you wish to achieve.
3. Financing Your Business In Wisconsin
If you wish to start a business from home, the investment is very minimal. Wisconsin has a few investors and venture capital firms, so if you think your ideas can grow big enough, you can try for funding. If you wish to finance your business, there are some great financing options available at attractive payback rates.
4. Naming Your Business
Before you choose a business structure, you will need an official name to register your business. Go for something unique, yet meaningful. Try a business name generator for some suggestions. Register your business name with the US Trademark department and buy an online domain with a .com extension.
5. Registering A Business In Wisconsin
Now you need to choose a business structure. To be legally operational in Wisconsin, you have to choose between a sole proprietorship, corporation, partnership, and LLC. Forming an LLC will come with added legal benefits and tax reductions.
6. EIN Number & Tax Filing
Now you need to apply for a Federal EIN at the IRS. The FEIN acts as a social security number so that you can file for taxes separately. Federal EIN also allows you to hire an employee legally in the United States.
7. Register With the Wisconsin Department Of Taxation
To have to register your business with the Wisconsin Department of Taxation to be eligible for taxes. The licenses may vary from business to business. But generally, to sell tangible items, you will need a sales tax permit in Wisconsin. Selling services in the state may require a consumer’s tax permit.
8. Setting Up Business Bank Account & Accounting System
Now apply for a business bank account. This will keep all your business transactions in one place. You can also have a credit account for vendors. Set up an accounting system. Buy accounting software to make sure all your financials are in one place.
9. Business Insurance You Need In Wisconsin
Wisconsin has no mandatory insurance for any business, but it may vary. It’s better to have worker’s compensation insurance and professional liability insurance in case you are selling services in the state.
10. Promoting Your Business
Now it’s time to promote. Start with social media. It’s free and you can reach out to a wide audience via different social media channels. If you have competitors, it’s better to hire an agency to promote the business extensively.
Best Places To Start A Business In Wisconsin
Choosing the right location is going to determine how your business runs. Here are some of the best places in Wisconsin to start your business:
Wisconsin’s economy is diverse, having been backed by its laws and growing market. With a good business plan, you can easily start a successful business in Wisconsin within a short span of time.
There are plenty of business ideas in Wisconsin that can be started with almost no money. However, it is strongly advised before jumping actually starting a business it is wise to find your passion and check the local demand for the services or products that you plan to provide to local customers.
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.