With a massive economy, many diversified businesses operate in Iowa. Manufacturing is the largest contributor to Iowa’s economy. The state has evolved several small businesses around manufacturing. While heavy machinery and agricultural chemicals continue to dominate, other industries are catching up as well.
Biotechnology, finance and insurance services have grown over the years apart from manufacturing. Cheap raw materials have helped the agricultural sector grow on a large scale in Iowa. Here in this article, we guide you through how to start a business in Iowa along with low-cost investment opportunities in the state of Iowa.
How To Start a Business In Iowa?
Follow the given steps to legally register your business in Iowa:
Step 1. Select a business idea. You can take help from the list of small business ideas mentioned later in the article.
Step 2. Select, analyze and arrange your finances accordingly.
Step 3. Chalk out a business plan.
Step 4. Register your business (preferably as an LLC).
Step 5. Apply for Federal EIN to be eligible for tax filing.
Step 6. Get your business insurance and set up your accounting method for business.
Step 7. Strategize your marketing, sales and distribution route.
Step 8. Choose an agent who will help you to promote your business.
List of Top 20 Small Business Ideas & Opportunities in Iowa that Requires Very Little Money to Start
1. App Development Services
A business you start from your home, millions of apps are being rolled out every day. If you can create software applications, start working online and make apps for clients from home.
2. Graphics Designing
If you are creative and can create graphical designs, you can start an online graphic designing firm. Business from around the world is looking for innovative designs for good prices.
3. Food Truck Business in Iowa
A better business option than renting out space for a restaurant or commercial kitchen. You can start your food truck business with a small investment and by specializing in a specific category in Iowa.
4. Digital Marketing Agency
If you can produce successful online campaigns, starting your own digital marketing company can be quite profitable. With the internet spreading around the world, the next era of marketing is going to be digital.
5. Bed and Breakfast
Starting a bed and breakfast service will bring you a handsome income. Travellers often look for an alternative to hotels in Iowa. If you have a couple of extra rooms, starting your lodging option via AirBnB can be quite profitable.
6. Cake Shop
Iowa has several bakeries operating out of a storefront. You can also run your cake business from homes by taking orders online through delivery portals and small-scale advertising.
7. Barber Shop
Grooming services in the state have seen a major jump in demand. You can start a small barber shop with a little investment specializing in grooming, cutting, shaving and styling.
If you enjoy writing and looking for an income opportunity. right at your home, blogging is the most legitimate money-making option. Check our detailed guide on starting a blog to learn more.
9. Online Business Consultancy
Startup businesses and new entrepreneurs often need consultants to help them with their businesses. You can offer services related to business plans, know-how and resources necessary to succeed.
10. Candle Making Business
Iowa has a sizable market for candles. If you are good at making candles and creative about your product line, this business can be quite profitable if distributed the right way.
11. Affiliate Marketing Business
As an affiliate marketer, you will be paid for endorsing a product online. You will be paid a commission when someone buys a product promoted by you. Choosing the right channels to promote is a major differentiator in affiliate business.
12. Copywriting Business
If you are good at crafting content, you can start a copywriting business from home. Companies often look for talented copywriters online who can help them write blogs, social media posts, reports, and more.
13. Content Marketing Agency
After ads and endorsements, content marketing is the next promotional tool being used by big companies around the world. It involves creating content which primarily can increase interest in customers.
14. Virtual Assistant
Businesses look for people online who can offer work strategies and help companies solve daily tasks. Virtual assistants offer services directly from home over the internet.
15. Food Processing Business
Food processing is one of the largest components of the manufacturing business in Iowa. You can start at a low cost and export the products to the other states.
16. Financial Planner
If you are good with accounts and beekeeping, this can be a wonderful business to enter. You will help people manage their finances, taxes and where they should invest.
17. Daycare Services
There’s a growing demand for qualified and reliable daycare services in the state. You need a license to start your daycare service in Iowa with a little marketing.
18. Online Career Consultancy
If you are good at analyzing professional careers, you can start an online career consultancy. You will help young students to choose their career and what should their best career decision.
19. Smartphone Repairing Shop
The business has an ever increasing demand for services related to replacements, changes and breaks. Starting a smartphone repairing shop Iowa can turn profitable in a very short span.
20. Data Entry Business
A profitable business you can do from home, data entry and information tracking are paid per project basis. Several websites offer online jobs where you can bid and take your data entry projects.
Best Places To Start A Business In Iowa
Choosing the right location is going to determine how your business runs. Here are some of the best places in Iowa to start your business:
If you are looking forward to starting a business in Iowa, one of the best places to visit is the Secretary of State’s website. You will find all necessary details of incorporating a business here.