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Starting a Small Business in Wyoming

Welcome to the Small Business Startup Wyoming Franchise Directory! Here, you’ll find everything you need to begin your journey to business ownership in The Cowboy State. If you’re considering starting a small business in Wyoming, read on for an overview of the state economy. Afterward, explore business opportunities and franchises for sale with our Wyoming Franchise Search Tool.

Wyoming Industry Trends

If an industry is performing well, business opportunities within it are often worth exploring. Begin your market research with this list of the Wyoming economy’s most prominent industries in 2022. Afterward, take your research one step further by investigating niche markets and B2B opportunities within one of these top revenue-generating industries.

Oil Drilling & Gas Extraction (Revenue: $18.0 billion)
Petroleum Refining (Revenue: $12.9 billion)
Gasoline & Petroleum Bulk Stations (Revenue $3.2 billion)
Coal Mining (Revenue $3.2 billion)
Gasoline & Petroleum Wholesaling (Revenue $3.0 billion)
SUV & Light Truck Manufacturing (Revenue $2.6 billion)
Hospitals (Revenue $2.4 billion)
Gas Stations with Convenience Stores (Revenue $2.0 billion)
Mineral & Phosphate Mining (Revenue $1.9 billion)
New Car Dealers (Revenue $1.8 billion)

Wyoming Sector Statistics

When starting a small business in Wyoming, gross domestic product (GDP) is another tool entrepreneurs can use to make investment decisions. Generally, a steadily rising GDP means people are spending more money and creating more jobs.

The three sectors that contributed most to Wyoming’s GDP in 2022 were Mining; Real Estate, Rentals & Leasing; and Manufacturing. Combined, these three sectors represented 50.2% of the state’s GDP. In 2022, the sectors that contributed most to Wyoming’s GDP included:

Mining (Value: $7.1 billion* | Annual growth: -5.4%)
Real Estate, Rentals & Leasing(Value: $3.6 billion* | Annual growth: -1.0%)
Manufacturing (Value: $3.5 billion* | Annual growth: 4.4%)
Transportation & Warehousing (Value: $2.3 billion* | Annual growth: -5.7%)
Retail Trade (Value: $1.9 billion* | Annual growth: -1.0%)
Healthcare & Social Assistance (Value: $1.6 billion* | Annual growth: -0.9%)
Construction (Value: $1.5 billion* | Annual growth: -2.6%)
Professional, Scientific & Technical Services (Value: $1.3 billion* | Annual growth: 3.3%)
Finance & Insurance (Value: $1.2 billion* | Annual growth: 12.5%)
Wholesale Trade (Value: $1.1 billion* | Annual growth: -4.6%)
Accommodation & Food Services (Value: $1.1 billion* | Annual growth: 2.7%)
Information (Value: $752 million* | Annual growth: 2.3%)
Administration, Business Support & Waste Management Services (Value: $502 million* | Annual growth: -15.8%)
Other Services (except Public Administration) (Value: $472 million* | Annual growth: -2.2%)
Arts, Entertainment & Recreation (Value: $205 million* | Annual growth: -18.5%)

*Approximately

Wyoming Population Statistics

A growing population often means greater demand and a steady flow of new customers. If you are undecided about the location of your new business, start by investigating population statistics. Afterward, take your research a step further by exploring population demographics. Doing so lets you decide whether a location is a good match for your target market.

In 2022, counties with the highest populations in Wyoming included:

Laramie (Population: 102,000 | Annual growth rate*: 0.7%)
Natrona (Population: 81,900 | Annual growth rate*: 0.6%)
Campbell (Population: 46,700 | Annual growth rate*: N/A)
Sweetwater (Population: 42,100 | Annual growth rate*: -0.7%)
Albany (Population: 39,200 | Annual growth rate*: 0.3%)
Fremont (Population: 39,000 | Annual growth rate*: -0.4%)
Sheridan (Population: 31,300 | Annual growth rate*: 0.8%)
Park (Population: 29,400 | Annual growth rate*: 0.2%)
Teton (Population: 23,700 | Annual growth rate*: 0.4%)
Lincoln (Population: 20,900 | Annual growth rate*: 1.6%)
Uinta (Population: 20,100 | Annual growth rate*: -0.3%)
Carbon (Population: 14,400 | Annual growth rate*: -0.9%)
Converse (Population: 13,800 | Annual growth rate*: -0.1%)
Goshen (Population: 13,200 | Annual growth rate*: -0.2%)
Big Horn (Population: 11,300 | Annual growth rate*: -1.1%)

*From 2017 to 2022.

Wyoming Business Opportunities

We hope this snapshot of the Wyoming economy helps as you investigate business opportunities in The Cowboy State! Starting a small business in Wyoming is an exciting journey, and we know you’re probably eager to get started. But remember, take your time to explore all your options. While you’ll always have the “opportunity” to start your own business, sometimes, it makes more sense to invest in an opportunity that already exists. These are called “Franchise Opportunities,” and they offer several benefits, including the recognition of a well-established brand and a proven track record of success.

To learn more, start by exploring franchise opportunities in Wyoming below!

Explore Opportunities and Insights

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FISH Window Cleaning Services

Fish Window Cleaning provides service to both commercial and residential clients. We make it easy to get your business up and running. Learn more about the costs, benefits, and available locations today

$50,000 Min Cash Required

Wings Etc.

Wings Etc. is a sports-themed, family-friendly restaurant and pub with over 30 years of industry-leading experience. With a diverse menu featuring Award-Winning Jumbo Wings, Premium Burgers, Wraps, Salads, Cold Beers, and more, Wings Etc. is the neighborhood favorite in every community. Startup costs are low, and franchisees are supported from initial training through Grand Opening and beyond. Wings Etc. Grill & Pub is the Lower Startup Cost, Lower Breakeven, Full Service Bar & Grill Franchise

$350,000 Min Cash Required

Salty Dawg Pet Salon + Bakery

Rethinking Pet Grooming Join the Pack with Salty Dawg Pet Salon + Bakerys Amazing Opportunity Pet grooming has nearly doubled over the past decade. Rising pet ownership has driven the demand for pet grooming, boarding, training, and walking to an all-time high. Salty Dawg is seeking owners with an entrepreneurial spirit as well as sales, marketing, and/or retail experience. Inquire now to learn more and become an owner yourself

$100,000 Min Cash Required

CR3 American Exteriors

One of the fastest growing companies in the Exterior Remodeling Industry. CR3 was formed to enable small-to-midsize contractors to capitalize on a proven franchise model that really works, while establishing a powerful national brand that will make your operation a household name. As an Independent Contractor with CR3, you are our top priority. We are committed to supporting you with all the education, tools, and resources you need for your business to thrive.

$75,000 Min Cash Required

Poolwerx

Backed by a global brand, Poolwerx partners can tap into the 7 billion swimming pool industry with multiple revenue streams including chemical, equipment, and retail sales plus year-round revenue from residential and commercial pool services like cleaning, maintenance, and repairs. Scale your business with us as we rapidly expand our footprint across the US

$80,000 Min Cash Required

My Business Venture

My Business Venture gives you the ability to start an online business from your home. We provide you access up to 1 million products & you chose up to 2,500 you want to feature on your website MBVs 10 Price Guarantee on all items on your website ensures you will always be profitable & NEVER be undersold Includes enrollment in MBV University training program.

Starting a Small Business in Wyoming