Business Ideas You Can Start In Texas

4 Business Ideas You Can Start In Texas

08/08/2022

If you are tired of working for other people,  you want to become your own boss and create your own business. This article is just for you. Quitting your job and deciding to start your own business can seem scary especially if you do not have a plan and have no idea where to start. This article will give you some Business Ideas You Can Start In Texas, USA.  

Texas is one of the larger states in the US with the second-highest gross domestic product (GDP) in the country at 1.836 trillion US dollars. The state has over 2.7 million small businesses, with 4.7 million people under their employment. Therefore, it is safe to say that Texas is a great place to start a business.

So if you are in need of some profitable business ideas for the lone star state, this article will list the top 4 ideas you can try. Once you figure out what is the best venture for you, you can start looking for small business loans in Texas to help you turn your idea into reality,

Construction Business

Construction Business

The construction business in Texas is blooming more and more every year. In Texas, the construction businesses have contributed over $100.9 billion (5.3 percent) of the state’s $1.9 trillion GDP in 2020. The gross margin in Texas has averaged between 17.08-23.53%, however, the suggested margins can be as high as 42% for remodeling, 34% for specialty work, and 25% for new home construction. In cities like Dallas, Houston, Minneapolis, Austin, and Phoenix the construction business is very profitable, and the need for housing and housing services counties to grow with the rising population of Texas.

The minimum wage for construction in Texas is approximately $19.96 an hour, or $41,509 a year. Owning your own construction business offers many benefits such as having an impact in your local area, providing a solution to human needs, offering good job security, and suits lots of different skill sets. The Texas regulators do not require you to have a general contractor license, but you will need to apply for your Texas Business License, a requirement for any business in Texas.

Import And Export From And To Mexico

Import And Export From And To Mexico

The Texas economy largely benefits from international trade. International trade, including exports and imports, supports 3,150,600 jobs in Texas. These trade-related jobs in Texas grew 1.5 times faster than any other jobs. Texas exports over $283.7 billion in goods and $53.6 billion in services every year. In Texas, 41,558 exporters, or 93 percent are small to medium-sized companies with less than 500 workers. Opening a small import and export business can be a great way to buy goods with lower prices from Mexico and sell them in the USA.

It is important you choose goods that are very valuable in the USA but cheap in Mexico this way you can make a profit. Also with the Free trade agreements (FTAs), you can export from Texas to the partner countries with reduced barriers. With the free trade policy, goods and services can be bought and sold across international borders with little or no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange.

Security Services

Security Services

The security business in Texas has become the most lucrative career option for many young people and retired defense personnel. Today more than ever, the demand for security services has increased not only in Texas but everywhere in the US. Some of the most demanded businesses in this field include bodyguard security services, home alarms sale and installation, special event security services, firearms training, and disaster planning and consulting. In order to start a security company in Texas, you will first need to apply for a license from the Texas Department of Public Safety – Private Security Bureau.

It takes between 6 to 8 weeks for the application to be processed and the license issued. There is 4 license can have Class A license for a private investigation company, a Class B license for guard services, alarm systems, courier services, armed guards, locksmith services, and closed-circuit television systems, Class C license for private investigation contractors and security contractors, and Class D license Class D combines Class B with a security contractor. The average profit margin for a security firm is between 30 and 40 percent off of the operators that you have, from just one security officer, the company will generate roughly USD40,000 to 60,000 per year.

Warehouses And Storage Business

Warehouses And Storage Business

Opening a warehouse and storage business in Texas is a very good business idea since there is plenty of free land and wastelands in Texas that are ideal for building storage facilities. They are fast and easy to build, they do not require much staff to operate and you can even flip them when the property value rises. Storage businesses in Texas have proven to be easy and profitable start-up business ideas with a 92% success rate.

They do not require a ton of previous knowledge and experience. Most affordable storage in Texas go for $30 for 5×5 and $42-$99 for 5×10. This means you can make $160 per month for medium storage spaces and $290 for large storage spaces. The profit margin of a self-storage business is around 41%. However, a license is required for operating a storage facility in Texas.

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