7 Low-Cost Businesses You Can Start Anywhere in Chicago
Ezra Cabrera | May 28, 2019
With over 2.7 million residents, launching a startup business in the Windy City of Chicago may be one of the best decisions you’ll ever make. With the help of Chicago business loans, you can fund your start-up, acquire supplies, purchase equipment, and run your day-to-day operations without issues. Other than that, there are a lot of things that will make your business in Chicago unlike others.
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If you’re thinking of starting and establishing your company in Chicago, you may just be starting one of the most profitable venture in your life. The business landscape in Chicago has been changing ever since. For instance, while business owners were risk-averse in the past, now they’re learning to accept failures. The best part is, more and more entrepreneurs are starting to invest more into their businesses.
Chicago start-ups are, however, conservative. They’re more likely to focus on bringing in revenues in the first years before thinking about growth. With that mindset, you’ll be sure to bring in more success to your business.
If you’re thinking trying your luck in Chicago, here are six low-cost businesses you can start ASAP.
1. Food Trucks
If you want to operate a business in the food industry, a food trucking business is a good way to start. Food trucks have become more and more popular over the past few years. Many people love them because of its convenience and affordability. You can offer local Chicago dishes or you can explore other cuisines. The key is to be sure you have a distinct, competitive advantage over other food trucking operators.
2. Yacht Rentals
The Chicago River and the Michigan River are popular waterways found in the Chicago area. If you happen to have a collection of yachts, you can venture into yacht renting. Applying and receiving equipment financing so you can purchase or lease more yachts for your business is a simple matter.
Related: How Equipment Financing Helps Small Business Owners
3. Organic Meal Delivery Service
The health and fitness industries have gained popularity in recent years, especially now that people are more focused on their health. Although most people want to eat healthily, they don’t have the time to cook and prepare healthy meals. For this reason, organic meal delivery services are more in demand than ever. Even though organic food is usually more expensive, people are now willing to pay more for nutritious meals than fast food takeaways.
4. Elder Care Services
Did you know that 10% of the total population of Chicago are seniors (65 years old and above)? Seniors need attention, care, and health services. This is why putting up elder care services in Chicago is a lucrative business venture. You can offer transportation services, put up an assisted living facility, deliver meals to senior homes, provide gardening and lawn services, specialty medical services. The possibilities are virtually endless.
5. Taxi Business
The total surface area of Chicago stretches 237 square miles, which means people need to travel to get from one end of the city to the other. Most prefer to book a cab instead of driving, so if you have a car and you’re a skilled driver, you might want to consider driving for Uber or starting your own taxi business.
6. Dry Cleaning Service
For the busy, working population of Chicago, dry cleaning services will always be in demand. Starting your own dry-cleaning service is a good venture that requires little investment. You can even create demand for your business by also offering a pick-up and delivery service.
7. Tour-Guide Agency
Chicago receives more than 50 million tourists every year and most of them don’t want to go through the hassle of creating their own itinerary for the trip. They want their vacation to be as smooth and hassle-free as possible. For that reason, they usually hire tour-guide services to arrange their itineraries for them.
Chicago offers a lot of attractions that visitors and tourists would love to see and know more about. With enough capital, you can recruit your friends or other people interested in guiding tourists to the different sceneries that the Windy City offers. You can even be a tour-guide, yourself. With a good know-how of the cities, you can guide these excited tourists and provide the best tour services in town.
Chicago Business Loans – Small Business Loans for You
Whether you want to put up a mobile salon or a yacht rental company, it’s easier to launch a business with the help of Chicago business loans. Whether you’re a start-up still navigating through the business landscape or an established one thinking of expanding, you can never go wrong with obtaining additional capital for your venture. Know what your business needs and determine what type of business financing will help address your company’s needs.