Places to Start or Run a Business in 2022

You can start a business and run a business from just about anywhere in 2022—seriously, anywhere. As long as you have a good idea, initiative, focus, and funding, your business opportunities are as endless as the available places to operate it.

To demonstrate how limitless your choices are, let’s look at 4 very different options.

• In Your Home
• On the Road
• Near Complimentary Businesses
• On the Water

Starting a Business in Your Home

We’ve all heard the story of how Steve Jobs and Steve ​​Wozniak started Apple Computers from Jobs’ garage—but did you know that other global brands like Amazon, Harley Davidson, Google, and even Disney were also launched in their founders’ homes?

What’s even more amazing is that many of these businesses started before personal computers, smartphones, or even the internet were around.

Starting a business in your home is a lot easier today than it was back when Jobs did it in 1976. Technology and globalization have improved to the point where businesses within almost any industry can operate seamlessly from home. 

For example, food delivery services like Grubhub and UberEats are making it possible for chefs to run restaurants from their home kitchens. These virtual restaurants, often known as ghost kitchens, are making home-based restaurants the next frontier for restaurateurs.

If you can run a restaurant in your home, there’s really no limit to what type of home-based business you can launch. From freelance writing to turning your home into a short-term rental property via Airbnb and VRBO, the opportunities are endless.

The Small Business Association (SBA) estimates that approximately 50% of all US businesses are run from home. While many of these home-based businesses are sole proprietors, there are thousands of employer firms operating remotely as well. SBA’s 2016 report found that 24% of all companies with employees were home-based.

With the pandemic pushing the remote-work movement forward at an unprecedented rate, these numbers are expected to soar. In fact, UpWork’s recent study estimates that 36.2 million Americans will work remotely by 2025—an 86.5% increase from pre-pandemic numbers.

Starting a business in your home is a great option for many reasons. For one, it’s cheaper and requires less capital investment, because you don’t need a brick-and-mortar location. Home-based businesses also offer you and your employees more flexibility with work schedules which, according to a Gartner study, improved productivity in 43% of workers surveyed.

If you’re considering starting a business in your home, don’t be afraid to think outside the box. Not only can you start a restaurant or software company in your home, but you can even open a franchise there.

Starting a Lendio franchise gives you the opportunity to become a part of the top-rated business lending franchise in the country without requiring a physical storefront—you can run it from your home!

If you’re considering starting a business in your home, think outside the box: a restaurant, software company, even a franchise can be grown in your house.

Starting a Business on the Road

Do you hate the idea of a brick-and-mortar business? Maybe you’re someone who isn’t ready to plant your roots, but you still want to be your own boss. Either way, starting and running a business on the road may be just what you need.

Starting an online business on the road has never been easier.

Whether you’re a travel blogger documenting your globetrotting adventures or a digital nomad working as a freelance marketer, there are hundreds of online businesses literally at your fingertips. As long as you have access to the internet and a working computer, you can start and run an online business on the road, though there are a few things to consider.

If you run an e-commerce business, make sure that you can take your products with you, or consider dropshipping or using a fulfillment partner. If you have clients, be mindful of the time differences as you travel—client communication is important regardless of where you are.

What if you want to start a business on the road that isn’t digital? You have options!

Opening a food truck is a popular non-digital business idea for the road. There are currently 35,512 food trucks in the US that earn $2.7 billion in revenue annually—an average of $76,000 yearly in revenue per food truck.

You’ll need some upfront capital to purchase the truck and equipment—but after that investment, you’ll be able to take your business on the road. Don’t forget, however, that permits will also be needed wherever you sell. If you’ve always wanted to be a chef or open your own restaurant, starting a food truck is a great alternative.

There are several other offline road-based businesses for you to consider. You can become an Amazon Delivery Service Partner, start a scenic tour business, or become a driver for Uber, DoorDash, or Lyft.

If you’re an entrepreneur who just can’t wait to get on the road again, consider starting a business that gives you that flexibility.

Starting a Business Near Complementary Businesses

You can start a business at home, on the road, or even in the metaverse—but if you’re not considering the market within which you plan to operate, you’re doing yourself a grave disservice.

For this option, we’re going to be less concerned with the physical location of the business and focus more on the strategy behind where you choose to open it. If you’re given the opportunity to start a business near another established company that’s complementary to your offerings, this can help increase your chances of success.

By choosing a location in close proximity to another business relevant to your target audience, you’re able to piggyback off their customers. While this can be as granular as opening an interior design business next to a furniture store, it can also be more macro-level, like opening a commercial cleaning business downtown near office buildings. 

Some other examples of business ideas and their complements include:

• Starting a sports bar near a stadium
• Opening a bookstore near a Starbucks
• Launching a tutoring business near an elementary school
• Starting a real estate company near a divorce lawyer

Jelly made a living off of peanut butter, and you can do the same with your small business. Regardless of the physical location, think about what other non-competing businesses your target audience frequents and consider opening your company near one.

Starting a Business by the Water

An article about starting a business anywhere wouldn’t be complete without mentioning that you can start a business by the water—it’s 71% of the earth’s surface, after all. 

Live near a lake? Consider purchasing land and opening an RV or camping park. Only have access to a river or spring? Start a rafting business or tubing park. If you live on the coast, you can start a fishing charter, beach photography business, or rent your house to travelers. The businesses will depend on the type of water source, but there’s a lot of flexibility regardless.

While many water-based businesses rely on natural bodies of water, you can also run a highly successful business near pools. From supplies, cleaning, and installation to pool decks, there are several businesses within the pool industry.

You can even start a swim school business to help others while still earning a decent living—swim schools have a 20–30% profit margin. The Goldfish Swim School franchise reports that franchisees open for 12 months or longer earn around $1.7 million annually, roughly $710,000 after operating expenses.

If you want to start a business by the water, odds are that you have plenty of options, no matter where you live. From natural water to pools, there are several water-based businesses for you to dive into.

First Steps to Start Your Business

From the lakes of Minnesota to the hills of Tennessee, you can start and run a business anywhere. All you really need is the right idea, dedicated focus, and enough capital to get off the ground.

While we can’t help with the first 2 pieces, Lendio can help you access the financing needed to run and grow your business. With flexible funding options like small business loans or credit lines and access to 75+ lenders, you’re guaranteed to find a business financing solution to fit your needs.

Disclaimer: The information provided in this post does not, and is not intended to, constitute business, legal, tax, or accounting advice and is provided for general informational purposes only. Readers should contact their attorney, business advisor, or tax advisor to obtain advice on any particular matter.