With flourishing pharmaceutical and chemical industries, businesses in New Jersey have evolved hugely over the years. New Jersey is primarily into the production of medicines, chemicals, telecommunications, food processing, electrical equipment, printing, and tourism. The strong scientific economy has helped the state to stay ahead of its competitors.
With a very strong economic environment, New Jersey offers a huge pool of educated labor forces. While the state is mostly into developed businesses, small businesses are also a major part of the economy. Here’s a complete guide on top small business opportunities along with a guide on steps to follow to start a business in New Jersey.
List of 25 Small Business Ideas to Start in New Jersey
1. Pet Grooming Business
The pet grooming industry is quite big in New Jersey. You can offer different pet-related services like facials, styling, pampering, and more from your home.
2. Open a Meat Shop
There is a good demand for meat in NJ. However, residents of New Jersey are very selective in buying meat because of quality and hygienic issues. If you can properly maintain and deliver clean packaging, opening a meat shop can be a hugely lucrative business here in his city.
3. Shipping Business
A key industry in New Jersey, the shipping business in the state offers strategic geographic location as an added advantage. If you have networking skills any shipping-related business can be profitable in NJ.
4. Speech Writing Service
Several professionals face issues while giving speeches. You can offer professional speech writing to help them address a crowd in a better manner.
5. Bed & Breakfast Business
New Jersey is famous for its natural and cultural attractions. Start a bed and breakfast business for visitors who often look for an alternative to hotels.
6. Customized Tour Services
Tourism contributes significantly to New Jersey’s overall revenue. With so many tourists, you can start as a tour service provider and offer special customizable tour packages.
7. Online Resume Writing Services
You can assist job seekers by helping them create an intuitive resume that will help them communicate their skills to employers.
8. Skateboarding Lessons
New Jersey is famous for its skateboarding. If you are a pro, you can offer lessons and charge them to teach your skateboarding skills.
9. Berry Export Business
New Jersey is the number two state in the US in blueberry production, and third in cranberries. You can farm the berries and export them to other states and countries.
10. Screenwriting Services
If you think you are a good storyteller, you can make a living out of it. Write your own original scripts and sell them online to different production houses.
11. Online Publishing Services
Publishing companies traditionally focus on physically printing books. You can start a unique online digital publishing house to sell such specialized services.
12. Pottery Business
If you are good with pottery, you can turn this into a full-time business. You can start your own pottery studio and can even sell your art online.
13. Pet Sitting
People in New Jersey are thorough pet enthusiasts. You can start a pet-sitting business at your home to help people find their favorite pets.
14. Soap-Making Business
Blend some of your own soap-making recipes. You can sell your own soaps via different organic shops, e-commerce, sites, and even farmer’s markets.
15. Podcasting Business
A podcasting business can be started from the comfort of your home with little money. All you need to do is record podcasts for listeners. You can either charge them to subscribe or sell advertisements.
16. Online Surveys
If you are looking for a legitimate way of making serious money without any investment, online survey opportunities can be just for you. You just need a computer and an internet connection to make money here. Check this list of top online survey companies offering work opportunities.
17. E-commerce Store
There has been an exponential rise in online shopping here in this city. Hence starting an e-commerce store can be a lucrative venture. Whether you sell niche products or provide a platform for local artisans, the e-commerce industry offers endless possibilities.
18. Health and Wellness Center
The health and wellness industry is booming as more and more residents of New Jersey are increasingly focused on well-being. You can consider opening a wellness center that offers services like yoga classes, fitness training, nutrition counseling, and spa treatments.
19. Craft Brewery
Craft beer has gained immense popularity in New Jersey in recent years. You can tap into this thriving craft beer market by starting your own brewery and offering a selection of unique and flavorful brews.
20. Food Truck
New Jersey is famous for its diverse food scene. Consider starting a food truck that offers unique and delicious cuisine, catering to local events, office complexes, and popular destinations.
21. Specialty Coffee Shop
Coffee culture is strong in New Jersey. Open a specialty coffee shop that focuses on high-quality beans, unique brewing methods, and a cozy atmosphere to attract coffee enthusiasts.
22. Personalized Gift Shop
People love personalized gifts that are meaningful and unique. Start a business that specializes in creating personalized and customized products like engraved jewelry, monogrammed items, or custom-made artwork.
23. Event Planning
New Jersey hosts a wide range of events throughout the year, from weddings and corporate gatherings to festivals and trade shows. Start an event planning business that helps clients organize and execute memorable events.
24. Virtual Assistance
Remote work is expected to rise in the coming days. There is a growing demand for virtual assistants who can provide administrative, marketing, and technical support to businesses and professionals.
25. Home Renovation and Remodeling
New Jersey has a strong real estate market. Hence, home renovation and remodeling can be a profitable business here. You can offer services like kitchen and bathroom remodeling, basement finishing, and interior design.
How To Start A Business In New Jersey?
Follow the given steps to legally start a business in New Jersey.
Step 1. Choose a Business Idea
The first step is to choose the right business that ideally fits your passion and expertise. We have listed above some of the top profitable small business ideas in New Jersey that require low startup capital.
Step 2. Create A Business Plan
New Jersey currently is experiencing a period of growth among businesses. You have to chalk out a proper business plan to tackle all the possible threats. This plan will act as a roadmap for your new business.
Step 3. Arrange Funds
New Jersey has a lot of investors and funding venture capital firms. If you find it hard to sell your idea, you can go for crowdfunding or a loan. There are several business loans available at minimal payback rates.
Step 4. Name Your Business
Before you finalize a name, check with US Patent and Trademark Office whether it clashes with some other business or not. Something short and meaningful will do your job. Also, make sure you buy a domain of the same immediately. Check this guide to know more about the steps involved in naming a business.
Step 5. Select a Business Structure
You have to choose a business structure to be legally operational in New Jersey. Either you can register your business as an LLC, sole proprietor, or corporation. If you go for an LLC structure, you can enjoy added legal and tax benefits.
Step 6. Register Your Business
To register a business in New Jersey, you have to need to have a complete Public Records Filing. You need to submit your filing to the New Jersey Department of Treasury, Division of Revenue, and Enterprise Services.
Step 7. Business Permits & Licenses
You need a Certificate of Formation from the New Jersey Division of Revenue and Enterprise Services. There are also city-specific licenses available you will need for certain businesses, for example, recycling businesses.
Step 8. Federal EIN & Tax Filing
To apply for a Federal EIN, you have to apply online with the IRS or submit an IRS Form SS-4. You can file for separate taxes with your EIN and will obtain the status to legally hire an employee. Go through the State of New Jersey Business Portal for further details.
Step 9. Business Insurance & Bank Account
With EIN you can apply for a separate bank account. Make sure you apply for specific insurance as well. To sell services, you will need a professional liability policy and worker’s compensation insurance if you wish to hire an employee.
Step 10. Promote Your Business
Finally, you have to take your business to a potential audience. Hire an agent who will help you promote your business digitally and in the local area.
Best Places to Start a Business in New Jersey
Choosing the right location is going to determine how your business runs. Here are some of the best places in New Jersey to start your business:
- Jersey City
- Atlantic City
Frequently Asked Questions
Do I need a business license to start a business in New Jersey?
Yes, most businesses in New Jersey require a business license or permit. Check with the New Jersey Department of Revenue or consult with a business attorney to understand the specific requirements for your business.
How can I finance my business in New Jersey?
There are several options to finance your business, including personal savings, bank loans, small business grants, venture capital, or crowdfunding. Research and explore the options that best suit your business needs.
Are there any resources available to support new businesses in New Jersey?
Yes, New Jersey offers various resources for new businesses, including Small Business Development Centers, business incubators, and mentorship programs. Additionally, the New Jersey Economic Development Authority provides assistance and incentives to encourage business growth.
Are there any specific regulations for certain business types in New Jersey?
Some business types may have specific regulations and requirements. For example, food-related businesses may need to comply with health and safety regulations, while professional services may require licensing. Research and understand the regulations that apply to your specific business industry.
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 businesses.