Last Updated on September 8, 2022
This list includes lucrative businesses you can start or invest in, in Alaska. You can also read about small business ideas in California, UK, Germany, Australia, and Canada.
Being one of the largest producers of crude oil in the United States, Alaska is indeed a growing economy with several sub-industries growing simultaneously in the state.
There are lots of small business ideas and opportunities in Alaska. So if you live in the state of Alaska in the United States or you intend to relocate with the purpose of starting a small business in Alaska, then it might interest you to go through this article as you will learn about some of the most lucrative business ideas in Alaska that you can start.
Table of Contents
15 Lucrative Business Ideas In Alaska
1. Oil and Gas Servicing Company
Alaska is known for its large deposits of crude oil and is ranked number 4 in oil and gas production in the United States of America. The oil and gas industry is indeed a booming industry and if you are a big investor, you might want to consider starting an oil and gas service company. If you are well positioned, you will have several major oil and gas companies to service.
2. Petroleum Product Marketing Company
No doubt those that are into the marketing of petroleum products are doing exceedingly well in Alaska. Little wonder they have the fifth highest numbers of millionaire per capita income in the United States. If you have the funds required and you are able to obtain the license needed, you could start your own petroleum marketing company in Alaska.
3. Fishing and Frozen Foods Business
Alaska has the longest costal line in the United States; hence the very busy and booming fishing industry. Seafood remains one of the major export products in Alaska and people in The US and other part of the world request for their seafood. If you key into this industry, you would definitely make good fortune for yourself.
4. Transport and Haulage Business
Shipping business is another thriving business in Alaska. If you have the capital required to establish a Shipping line, then you would be well positioned to tremendously increase your wealth. The market for haulage and shipping of goods from one location to another is enormous because of the nature of industries and commerce in Alaska. You might start your own Haulage business with one truck and the possibility of it growing within a short period is very high.
5. Auto Repair Workshop
If you are a mechanic or if you have interest in auto repairs and you live in any of the cities in Alaska, then starting an Auto repair workshop is one thriving business that you could engage in. Because of the large landmass of Alaska, you might be required to spend a longer time driving from one place to another hence continuous wear and tear of vehicles. If you start your own Auto repair workshop, then you would have enough cars to service and repair.
6. Pharmacy Business
Pharmacy business is one business that can thrive in any part of the world. If you are a pharmacist, starting a pharmacy store might be one highly profitable venture to go into. All you need to do is to obtain your license and position your business in places like Anchorage metropolitan area where people won’t have to travel a long distance to get to your store.
7. Sales and Servicing of Fishing Equipments
If you have been to Alaska, you might have observed that there are loads of fishing activities going on every day; the natives of Alaska have been fishing from time immemorial. Establishing a store that sells fishing equipment is one thriving business venture that you could start in Alaska. If you have some technical skills, you might as well want to start a shipping or boat servicing and repair company.
8. Tourism and Travels Business
Tourism is one avenue where the state of Alaska generates funds. People travel from all over the world to Alaska for the purpose of tourism. If you have interest in this area of business, then starting your own Tourism and Travels business may just be the right business for you.
The good thing about this line of business is that you don’t require huge capital to start it. All you would need is to obtain your license from the State, get an office space and then define the services to be provided.
9. Hotel Business
The fact that people travel to Alaska basically for work, business and tourism means that they might be in need of hotels or motels to lodge. If you start your own hotel business in Alaska, you won’t have to struggle to get customers to patronize you provided you are well positioned. Although starting your own hotel business is capital intensive, but the truth remains that in Alaska, you stand the chance of breaking even in a shorter time compare to some other States.
10. Groceries Store
Starting a groceries store is one thriving business that you could dabble into especially if you have limited startup fund. With this kind of business, you might start small and expand along the line. This kind of business can possibly thrive in any part of the world. All you need to do to get started is to know the commodities that is highly consumable and how to get it from the manufacturer at a cheaper rate.
11. Shipping Business
Located on the coast, transportation services are a big industry in Alaska. The shipping business does need capital, but getting financing for this business has very little risk due to Alaska’s geographical location and demand for shipping services. Being one of the largest commercial producers, shipping goods from one location to another will keep growing in Alaska.
12. Start an Online Business
If you are looking to make money right from your home, an online business is a perfect fit. A lot of individuals in Alaska make full-time decent earnings through certain online businesses. Some of the profitable ones are blogging, affiliate marketing, online tutoring, freelance writing, selling courses, and many more.
13. Barbershop
With a bit of training, you can be a hairstylist and a barbershop is a feasible idea in a populous place like Alaska. A barbershop business will hardly ever see a recession, though setting it up at a good location is always recommended.
14. Tutoring Services
If you are good at something, it’s never a bad idea to start teaching it. Alaska has a huge number of young adults and tutoring services remain one of the most profitable businesses still now. You can often offer your services online to reach out to a wider audience.
15. Digital Printing Business
Companies often look for printing businesses that can offer good prints at better costs. The Digital printing business needs some capital to start, but if you can have a good group of clients, the business is one of the highest revenue generators.