Spending time in the great outdoors is a wonderful way to spend a vacation, but it’s also a great way to spend life. In Utah, nature isn’t just something to look at, but something to be a part of, and many of the businesses for sale by owner in Utah follow that culture. Even if a company isn’t centered on the outdoors, the outdoors tend to play a big part in the business climate. Whether a person moves there to “work hard, play hard” or because they want to raise their family in a beautiful mountain setting, buying a business in The Beehive State makes sense.
Why Buy a Business in Utah?
Utah is just one of many mountain states, so what sets it apart from other states touting an outdoor lifestyle and a big economy for small business? According to the state’s department of economic development, it’s been called a Top 10 Pro-Business State by Pollina Corporate, The Most Competitive State for Business by the Beacon Hill Institute, and the Pew Center says it is the Best Managed State in the Nation. The Department of Economic Development also does its best to give businesses in Utah an advantage by creating support systems and advising businesses to play upon the strengths of the economy to better grow their own business. Because of the access to resources, talent and services, there is a higher standard of living throughout the state, making it a place where you can feel good about your home life and work life.
Businesses and Industries That Thrive in Utah
Aerospace, Manufacturing & Defense
Aerospace and defense is one of the state’s top industries, and Utah is one of the top states in the U.S. for aerospace employment, meaning that there are plenty of knowledgeable and experienced employees for hire for your aviation business. Things like manufacturing materials, avionics, design, and even the maintenance of control systems are important and strong businesses in the aerospace industry in Utah. More than 1,100 companies specialize in these areas, but there’s always room for more growth, especially in a state with so many skilled workers.
Life Sciences & Health
Utah’s economy is also very dependent on the life sciences industry. More than 25,000 jobs are provided by the industry, and the state is a leader in production of many health devices. Heart devices are one of the big products, and Utah produces 70 percent of arterial and vascular access devices in the world. The state has also helped to discover more human genes than anywhere else in the world through its biotech sector. Although it is a very niche industry, the life sciences in Utah can be a successful and well-supported area to open or buy a business.
Outdoor Lifestyle Products
Of all the industries in Utah, the one that is probably the most niche to the state’s environment and consumers is outdoor products. It is a billion dollar industry that employs tens of thousands of people. Utah even has an Office of Outdoor Recreation to help drive and grow outdoor businesses. The area helps businesses to be able to accurately test products by giving them a realistic environment for product development. Big name recreation brands like Skullcandy and Goal Zero are located in Utah, but small businesses succeed too. Tourists and locals alike need gear, so if you’re interested in buying a small business that doesn’t develop products but sells or rents them, it’s likely your business will thrive.
Utah is a beautiful state to live and work, and it’s a smart place to buy a small business for sale by owner. Take advantage of the strong industries, great resources, and opportunities to grow into a leader in your area of business. Whether you want to open a ski rental store or a pacemaker production company, Utah has the support of its economic development companies to make you a successful and happy business owner.