The Top 10 Business Ideas To Start In Lithuania (2023)

Best business ideas to start in Lithuania? a good and simple question most entrepreneurs, local and foreign investors, who desire to meet the needs of their target audiences, establish businesses that have prosperous futures, and make a reasonable business annual revenue in Lithuania ask themselves.

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The fact is, Lithuania is a perfect country to start a successful business. According to the Global ranking for Ease of Doing Business (2020), Lithuania was ranked 11th among over 190 countries. Moreover, among the EU-28, it was ranked 4th. Therefore, starting a business in Lithuania isn’t a bad idea, but what business can you start?

Here are the top 10 business ideas you can start in Lithuania and achieve your goals and objectives without stress, including step-by-step guides on how to start these businesses.

Top 10 Business Ideas To Start In Lithuania

Below are the top businesses you can consider if you want to earn a good income, be your boss, and make your dream come true in Lithuania.

Logistic Business

Logistic Business is the business that focuses on the transportation and storage of manufacturing products or distribution of these products from the manufacturers and wholesalers to their customers.

You can work for several companies or manufacturers by connecting them to storage warehouses, transportation companies, and customers. You don’t need much to start a logistics business.

Steps To Start A Logistic Business:

Choose a logistic niche that interests you and fits your skill
Obtain the required licenses for taxes, document management, payroll, and others
Create a business plan and budget
Connect to your prospective clients

Boutique

If your interest is in the fashion and textile industry, you may consider opening a boutique. Most Lithuanians are so updated in fashion, and they’re ready to try new styles.

You just have to establish a strong marketing strategy, both physical and online publicity, and storage of updated and fashioned clothing items; before you know it, your business will begin to expand.

Steps To Start A Boutique:

Choose the set of clothes you want to be selling to your prospective customers.
Choose a reliable source of funding for your boutique business, i.e., at least the ones that can support for 6 months, 1, or 2 years.
Choose a suitable site for the business.
Decide on the pricing.
Set an attractive store layout.
Get the required legal documentation.
Make a marketing and business plan.

Open A Restaurant

Out of the basic needs of man is food, as nobody can do without it. Therefore, if cooking is your hobby and you want to be making good money through it, you can start a restaurant and give people what they need while you make your money.

Most importantly, you can start with Lithuanian foods, like Chilled Borscht, Cepelinai, beetroot soup, and others, before foreign foods. Also, you can hire a chef to inspect your food and ensure your workers are experienced chefs who can cook delicious foods for your customers’ satisfaction.

Steps To Open A Restaurant:

Choose a restaurant brand.
Create your menu.
Get restaurant permits and licenses.
Create your business plan.
Get the equipment and food suppliers.
Hire professional staff.

Become A Real Estate Agent

Real estate agents are expert that helps sellers to market and sell their proprieties and also connect, assist, and advise buyers who wants to purchase properties. They served as intermediaries between sellers that wanted to offer properties for sale and buyers that wanted to buy properties.

However, as there is an increase in the immigration of foreign investors, entrepreneurs, and workers from different countries to Lithuania, there is a boost in property selling and renting. Therefore, as a real estate agent, you can make much money in Lithuania.

Steps To Become A Real Estate Agent:

Research the state requirements for a real estate agent in Lithuania.
Get and activate the real estate agent license.
Join a Real Estate Brokerage.

Start A Daycare Center Business

Lithuania is one of the perfect countries for the daycare business due to the rapid growth of working-class citizens, while majorities are parents nurturing kids. Therefore, if you’re in the education field or you have background knowledge or a certificate in nurturing kids, this might be the perfect option for you.

However, you need to meet all the criteria and have all the required documents before you start a daycare business because the government value the safety of kids.

Steps To Start A Daycare Business:

Register the business.
Get the required licenses from the government.
Get certifications.
Make sure the environment is healthy and safe.
Get insurance.
Hire experts and build a team.

IT Consultant Business

As there is a rapid growth of businesses and companies in Lithuania, there is also a high demand for IT consultants, who can diagnose companies’ IT infrastructure, understand the customers’ needs and develop solutions.

You don’t necessarily need to be employed by a company to be an IT consultant; you can work for several companies as a freelancer and make money in the comfort of your room.

Steps To Become An IT Consultant:

Get a certificate, either a degree, diploma, or any other certificate.
Choose a business name and logo.
Develop your communication skills.
Write your business plan.
Write an impressive resume.
Connect to your clients.

Start A Financial Service Business

Financial service is a sector of the economy that deals with helping individuals, corporations, and businesses by providing financial assistance or support for the development of their services. These categories include banks, lenders, investment houses, insurance companies, etc.

If you have enough capital, you can establish any of these categories in Lithuania. However, if you don’t have much experience in a financial business establishment, several professional business establishment services in Lithuania can help you.

Steps To Start A Financial Service Business:

Obtain financial certifications.
Choose the legal business structure
Write a good business plan.
Hire your staff.
Obtain the required licenses.

Start A Blog

Another lucrative business that is profitable in Lithuania is blogging. That fact is, you don’t necessarily need a huge amount of money to start blogging; what you need are your skill and a few devices. Through blogging, you can reach a broader audience and make money in your comfort zone. Moreover, you can make blogging a side hustle while still working full-time.

Steps To Start A Blog Business:

Get a domain name and web hosting.
Set up WordPress.
Choose a WordPress blog theme.

Tour And Travel Company

As the number of foreign investors and immigrants increases in Lithuania, starting a Tour and Travel company is a great benefit. You can choose the area you want to specialize in as there are many tour businesses, including sightseeing, history, adventure, and so on.

Steps To Start A Tour And Travel Company:

Choose the area you want to work in.
Register your company.
Get the necessary equipment and location for your business.
Employ workers.
Publicize your business.

Start A Fitness And Gym Business

Most people would love to go to the gym in the morning before going to work, while others prefer midday, 2 pm, and 6 pm when their bodies will be ready and have the potential to do exercise.

Nonetheless, most Lithuanians love going to the gym to build their body, improve blood circulation, enhance flexibility, and other mental and physical health benefits. Most importantly, the gym and fitness business is a profitable business in Lithuania.

Steps To Start A Fitness And Gym Business:

Get trained and accreditations.
Choose your fitness niche.
Get the required pieces of equipment
Get a proper location.
Employ workers.
Market your gym.

Final Verdict

The idea is the foundation of every successful business. Before thinking about the capital, you must make sure your business idea is needed in that particular location. However, if you need more help with a suitable business idea and establishing your business in Lithuania, you can consult StartBusiness company for support, advice, and knowledge.