New Jersey is one of the smallest states by surface area. However, it’s among the highest (11th) when it comes to the number of its citizens. The Garden State has one of the lowest living costs in the US and around 70 thousand median home income. And because of its population density, most of its inhabitants live in urban areas. With these conditions, New Jersey is one of the best places in the nation for entrepreneurs. If you’re looking to start a business or just to relocate, check out these top places to start a business in NJ.
The main factors that tell us if a city is good for business or not are:
- GDP per capita (median income for each city)
- low living costs (all the top places to start a business in NJ must have this)
- good potential revenue
- low competition
- good market
So, the best locations to start a business in the Garden State are not big cities, but small towns. This is where we have a good market and low competition to aid our future business endeavors. Starting a business isn’t easy, so make sure you meet all the legal requirements and have a solid plan. Entrepreneurship is about luck as much as good planning. Unlike luck, there are some factors you can actually influence to aid your business better.
For one, you can check whether your business idea is good for a certain environment. Starting to make ice machines in Russia might not be the best idea. Make sure your business is needed. Next, you can provide some special or specific thing only you will do. Like giving candy after haircuts or providing some other service no one else does. Finally, you can move to a location where businesses flourish. New Jersey meets all of the factors mentioned above and is filled with towns that are just waiting for new entrepreneurs.
Best business ideas for New Jersey
- Meat store – NJ is famous for being the state with the most diners in the entire world. It could be good to start selling meat to all those diners. If you want to open a small business, this is still a good idea, because people are usually very picky about their meat. The local butcher in a small town could make a fortune because the residents would always prefer his product to the Walmart one.
- Car wash – no one likes a dirty car, and with the population density of NJ, you’ll always have a customer.
- Tanning salon – to help all those teenagers get the tan before their summer on the Jersey shore.
- Solar paneling installation – Jersey has around 2800 hours of sunshine every year. Could be worth it to go green.
- Basically anything but diners – a very strong competition with tradition and experience.
Top places to start a business in NJ
As we said before, smaller towns are the way to go. They have a better chance of success for new entrepreneurs since they are the most unexplored markets with the biggest opportunities. Check out this list of cities which will make you want to hire moving companies NJ.
1. East Hanover
Probably best known for being the home of the sweets makers Nabisco, this small town is a perfect place to start your business. With only around 11000 residents this place has 1500 businesses. Excellent potential for expansion and a good place to give your business idea a go.
2. Red Bank
This beautiful city is full of diners and wineries. A good place for any foodie. Red Bank also reported an annual average revenue of 7 million per business. Which is not a small thing for a city with 12000.
Called a heaven for shoppers, this city of about 17000 citizens is filled to the brim with retail stores and shopping malls. It had a 3rd highest annual revenue last year (5.5 million). So, even if you already have a retail store, you might consider calling commercial movers NJ and moving to Secaucus.
Known best for its railroad museum, this town had almost 5 million average revenue per business. A good place to start your business or move your business to.
This town has around 6000 businesses, which is amazing for a population of 50 thousand. Its proximity to NYC makes it an excellent ground for new entrepreneurs. Also, Hoboken has recorded a growth of about 7% in the last five years. So, if you’re considering packing up your office and moving to Hoboken, now’s the time.
6. Top places to start a business in NJ also worth mentioning
- Florham Park
These towns have a growing income and average annual revenue. They are still not as fertile for businesses as the top five, but they are getting there. They all reported higher than 2 million average revenue, and are attracting more and more people.
Moving your business
If you have a business but want a fresh start somewhere new, then Jersey is the place for you! You can move your business yourself or call moving services NJ and save time, money and your back!
Good and reliable movers can make sure that your business is relocated safely, while you worry about establishing your business in New Jersey. You’ll have more time to check if you can deduct your move from your taxes and advertise your new ideas. Remeber to forward all your mail and your company’s mail to a new address. And, if you are moving long distances and driving yourself, remember to get sleep after every 8 hours of driving.
In conclusion, the top places to start a business in NJ are smaller towns. Look out for places with high average annual revenue, since these are the places where your business will flourish the most.