Below, we’ve compiled 30 of the best and most profitable ideas for a business to start in Colorado in 2023. Colorado is not only one of the most business-friendly states in the U.S., a popular destination with high mountains and amazing views, but also a place that presents many unique opportunities for business.
MOST PROFITABLE IDEAS FOR A BUSINESS TO START IN COLORADO
1. 3D PRINTING POINT & SERVICES
3D printing is a real revolution that people are still not taking full advantage of. All you need to do is to locate such a business in the right location and advertise it well and success will be guaranteed. The best 3D printing services to offer are creating customized collectibles, promotional products for other companies, detailed models, rare spare parts and many other items that people need.
2. HEALTHY, ORGANIC FAST FOODS
Nowadays people are paying more and more attention on what they eat. If it is possible to combine a healthy and natural meal with delicious in taste and convenient and fast food, it has a chance to generate high profits and be very profitable. However, proper marketing is the key to success here.
3. SMART JEWELRY
Jewelry combined with advanced technology is a new trend that is gaining popularity. Examples of such jewelry are necklaces with personalized photo projection, bracelets that track your activity, stress levels, mindfulness and sleep, smart rings – which can e.g. track heart rate, location and body temperature which will allow you to track your menstrual cycle. There are also many other types of hi-tech jewelry that are sure to be in increasing demand in the coming years.
4. RENTING OUT SMALL HOUSES WITH A BREATHTAKING VIEW
Colorado is a state that is rich in amazing views, especially of the Rocky Mountains, as well as canyons. These places are popular among tourists but also great places for rest, relaxation or a small trip with family or friends. A great business idea is to build and rent such small cottages located in attractive places with great views. Cottages that might be a great idea for such a business can be found in this video, for example.
5. HOTEL WITH A BREATHTAKING VIEW
Hotels with amazing views generally have much higher revenues and attract more customers than normal, boring hotels. This is definitely a very good idea for a business to start in Colorado. An amazing view can also be an important asset to a restaurant, bar, or other business that will attract many customers.
6. SKIING SCHOOL AND SKIING CAMPS FOR KIDS
Colorado is by far the best state in the US for winter sports, including skiing. This creates a great deal of business opportunities. One of them is offering lessons in skiing, snowboarding, scooter riding and many other winter sports. Organizing winter ski camps for children can also be a good business idea.
7. FOREIGN CUISINE RESTAURANT
An interesting, offbeat cuisine is a good business idea in almost any busy area. If there is no Italian, Arabic, Spanish, Thai or Chinese cuisine in the area, this can be a great niche business that will attract many hungry customers.
8. HEALTHY ORGANIC GROCERY STORE
Healthy natural food is a niche that has been growing tremendously in recent years and is attracting more and more consumers. People are often able to pay a lot more for the same product if it comes from a natural organic farm. It is important to properly advertise such eco-shop, so that all customers see that we sell only healthy, natural products. It is especially good idea for business in large cities.
9. BOX SUBSCRIPTION SERVICE
Box subscription is another interesting business idea that is gaining a lot of popularity in recent years. People like to get new products and don’t always have time to search for new products in stores or on the internet. Examples of box subscriptions could be boxes of new coffees, teas, books, wines, vintage products, survival items, all kinds of collectibles, cosmetics and beauty products, games and toys and many more.
10. INNOVATIVE VENDING MACHINE
Vending machines have changed a lot in recent years and are now able to sell much more unique products than just soda and snacks. There are many unique ideas for vending machine business that can generate significant profits. These include vending machines with beauty products, vending machines with accessories and pet food, vending machines with soups, pizza or burgers and many others.
Read also: 75 TOP Vending Machine Business Ideas
11. NICHE SHOP
Another idea for a profitable business in Colorado is to open a store that offers a niche type of product. If you find a niche that is in demand and there is no such store yet, opening one in the right location can attract a great many customers from all over the city and surrounding areas. Examples of such niche stores include a drone and drone accessories store, a vintage gift store, a survival & preppers store, a senior and disabled goods store, and many more.
12. SAUNA OR BANYA CENTER
Sauna and banya is a great idea for a unique and profitable business to start in Colorado. Such saunas or banyas are especially a good idea in winter, ideal next to ski resorts and in mountain towns popular with tourists. An additional source of income for such business can be the sale of sauna accessories and the organization of special events, bonfires, etc.
13. OFFICE SPACE RENTAL
2020 United States Census showed Colorado’s population increased by as much as 14.80% over 2010. Colorado is growing and needs new offices for businesses and organizations. Colorado is also an attractive place to live, so homes and apartment buildings are also a good business idea in the state.
14. TOURIST-ORIENTED SHOP
Tens of millions of tourists come to Colorado each year which creates demand for tourism-related services including stores. One of the best ideas for a store aimed at tourists is a memorabilia store. Such souvenirs are best sold in popular spots of the most visited places in Colorado. It is important to offer tourists both unique and useful souvenirs which can be used for interior decoration, will be an element of clothing (hats, T-shirts available on Amazon) or will be useful in the kitchen (mugs, fridge magnets – Amazon). In addition to souvenirs, it’s also a good idea to offer tourists other items they need most – such as ski accessories, or the most useful items for canyoning and mountain travel.
15. TRANSPORT SERVICES FOR TOURISTS
What all tourists need is also various tranposport services. Depending on the place and time of the year, such services can be offered in large numbers and can generate really high profits. The best such services are: guided tours, horse-drawn carriages, snowmobiles, shuttle buses and local cabs.
16. BUILDING & SALE OF TINY HOUSES, APPARTMENTS AND COTTAGES
Building and selling tiny houses and apartments is a versatile business idea that can generate huge money in Colorado, too. This investment requires some capital, but if you are able to find a suitable location for such houses, it is really worth a try. An exceptional view, good location, unique design and proper equipment of such a cottage is a guarantee of success. Examples of such homes (Airbnbs style) can be seen in this video.
17. SKIING EQUIPMENT RENTAL & SALE
Most people who go to the mountains for the winter don’t have their own equipment. For this reason, ski equipment rentals are a great business idea in towns where the terrain is suitable for skiing. The best location for such rentals is at the ski lifts and next to local hotels and restaurants.
18. SKI LIFT BUSINESS
Ski lift is a great business idea if you have some place where there are suitable mountains and there is a lot of snow. The mountains don’t have to be extremely long, you can start with something small and install a small ski lift. Over time as the business grows you should invest in bigger and bigger ski lifts and look for bigger mountains. Next to the ski lift is very profitable to open some bars, restaurants and stores.
19. TOURIST ORIENTED ENTERTAINMENT & SERVICES
Tourists who come to Colorado often want a cool, active and unique way to spend their time. Offer them services such as bike rentals, bike tours, campgrounds, car rentals, spas and massages, ecotourism, party-bus, scooter rentals, summer camps for kids, photography courses, survival courses and much more.
20. MOUNTAINS TREKKING TOURS ORGANIZATION
The mountains are not only amazing views, but also amazing business opportunities! Another idea for top business to start in Colorado is the organization of trekking trips in the mountains to the most beautiful places in the mountains. In winter, you can organize ski-tour tours or trips on snowmobiles. Establishing mountain huts on popular hiking trails can also be a good business idea (you can sell there food and drinks and offer rooms for rent).
21. SMALL HEALTH CARE BUSINESS & SERVICES
Healthcare is another very important, large and future-oriented niche in business. There are loads of viable business ideas in Colorado that are needed. Examples of such businesses are: home health care services, drug treatment, pharmacies and shops with herbs and natural medicine, skin rejuvenation centers and many others that are in great demand.
22. DATA ANALYSIS & STATISTIC MAKING BUSINESS
Data analysis business deals primarily with collecting ordering and interpreting statistical information so that the owner of the company (or managers) can make strategic decisions better and more consciously. A good data analysis can bring a company really big profits, which is why this type of service is really needed. It is important for data analysis business to be able to promote it well and advertise its most important advantages and services.
23. WEDDING, CONFERENCE & EVENT CENTER
It is predicted that the wedding and event industry will rebound soon and will be in high demand. Event centers can earn money in many different ways by renting their space for various events, as well as organizing such events on their own. The best locations for such centers are large cities, but also pleasant popular tourist areas where people will be able to go to conferences combined with mini-holidays.
24. STARTUP INCUBATOR & ADVISORY
Colorado is recognized as one of the top business friendly states in the US. Cities like Denver create a great environment for startups by providing access to skilled workers and a very diverse geography. Such a startup incubator helps new companies succeed by, for example, showing them the right business model or providing them with resources.
25. MICROGREENS FARMING / VERTICAL FARMING
Microgreens are one of the most profitable crops to grow and are ideal for small business that can be started with little capital. You can earn up to $ 50 for a pound of microgreens, which makes them a really valuable type of crop. Thanks to their small size, they can be grown in a small greenhouse in the garden or even in the basement, just like in this film. They can be sold to local restaurants, neighbors, stores, schools and online.
26. CRAFTS MAKING OR MINI MANUFACTURING BUSINESS
Many people think that production in the USA is not profitable and it is better to do it in other countries – nothing could be more wrong! There are a lot of goods that are profitable to create and their production, even on a small scale, can be a great business to start in Colorado. Examples of such goods that are worth considering are natural ecological soaps, knives, cutlery, craft beer, ceramics, simple technical devices and even drones. If you have technical potential, you should consider this option.
27. FOOD TRUCK
A food truck is another great idea for a business to start in Colorado, which can generate a really big income. The prerequisite for success is that you will be offering what people really like to eat and that you will be in the right places at the right times. Adequate advertising and marketing are also useful (e.g. using social media).
28. VIRTUAL ASSISTANT SERVICES
In foreign times, a lot of work, duties and tasks can be done online or a sentence without leaving your home. This creates great opportunities for outsourcing and companies offering various services in the genre of assisting, helping and advising other companies, individuals and institutions. Such companies are needed in almost every field. Even in medicine, beauty or engineering. You just need to find a suitable niche.
29. WATER ACCUMULATION OR DELIVERY BUSINESS
Insufficient water is a problem for many areas in Colorado. A company that allows people to have access to more water (without harming anyone!) will certainly be much needed and able to make a lot of money. Possible business ideas for this type of business include selling and installing rainwater storage tanks, selling and installing mini wastewater treatment facilities, building storage tanks and delivering water via tanker trucks or water pipeline systems where it is most scarce, and other ways to provide water where it is most needed.
30. CONSULTING SERVICES
Expert knowledge is very important, therefore many people and companies are looking for experts from various fields in order to obtain expert advice and help in creating their strategies. Consulting is a very wide niche and can relate to very different areas – from such popular as business or legal consulting to very specific, such as educational consulting, social media consulting, dating consulting, technical consulting and many others.
Colorado also makes a great place for larger, capital-intensive investments. Examples of such investments include:
- aqua parks in ski towns (near ski centers)
- amusement parks
- cable car system (letting tourists to easily get to the top of mountains)
- big real estate projects in the most popular tourist destinations
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