The life of an entrepreneur is one of long hours and plenty of stress. It is often compared to raising a child; a new business must be looked after 24 hours a day, seven days a week. But this doesn’t stop the millions of determined individuals who want to get into the world of self-employment. One of the most-quoted sayings about beginning a business is “location, location, location.” If you are planning on opening a food/retail/service business with a storefront in the Twin Cities, check out this guide to the best Minneapolis neighborhoods for entrepreneurs.
This unassuming location is full of nature trails and open city lakes. People can bike to work, enjoy some time relaxing on a fishing boat or get in some retail therapy at the neighborhood’s growing business district. Located off of Interstate 394, Bryn Mawr is about a 10 minute drive from downtown Minneapolis and St. Louis Park’s West End, which features a plethora of dining, shopping and entertainment options.
This Minneapolis neighborhood is a great balance of suburban and city living. Hidden away between the University of Minnesota and the Mississippi River, Prospect Park’s streets are lined with old trees that make you forget that you are less than 10 minutes away from some of the busiest commercial districts in Minneapolis. The demographics are promising for entrepreneurs too; Prospect Park is known to be a hub of political activism and diversity. The nearby neighborhoods of Dinkytown, Stadium Village and University Avenue can also be potentially profitable locations for new business owners who aren’t afraid of a little competition.
The Downtown/North Loop area of Minneapolis has transformed itself from a tough industrial neighborhood into one of the hottest scenes for 30-somethings who are looking to have a great time in the city. The young and rich make up a good part of the neighborhood’s population, which makes Downtown a great place for a business that can cater to the high-end, top-shelf demands of these power brokers. The town loves to support its local businesses. Start-up companies CoCo and Project Skyway have opened a new location in the Grain Exchange. They are a part of a growing movement of business owners that want to not only provide great services to clients and patrons, but also want to put money back into the city in the hopes of growing solid roots in the community. In addition to all of this, the brand-new Target Field baseball stadium will draw in big numbers. Entrepreneurs might find that calling this area home could be great for business.
If you enjoy winding trails, well-manicured golf courses and picturesque parks with beautiful views, consider this neighborhood for your Minneapolis apartment. A mere 15 minute drive from the Downtown area, Ericsson has a retail area that is a hipster’s dream come true: mom and pop diners, low-key coffee shops and a whole mini-community of microbreweries. The Hiawatha Line runs through the neighborhood and provides excellent public transportation to the heart of the city as well as the Mall of America and the Minneapolis/St. Paul International Airport.