Top Business Opportunities in Montana in 2025

With stunning landscapes, endless outdoor recreation, and world-class national parks like Yellowstone and Glacier, Montana draws in more than 12.5 million visitors each year, and in turn has developed into a robust market for businesses in hospitality, retail, dining, and adventure tourism. We've put together a list of what we consider to be the best business opportunities in Montana right now - just in time for tourist season.

Here's our list of the best business opportunities in Montana

Gardiner, Montana

Gardiner, Montana, is a small but vibrant gateway town located at the northern entrance to Yellowstone National Park. With its unique position, Gardiner enjoys a steady flow of tourism driven by the park's millions of visitors. The town has seen increasing interest from those looking to invest in commercial real estate

West Yellowstone, Montana

West Yellowstone, Montana, serves as a bustling gateway to the west entrance of Yellowstone National Park. This prime location ensures plenty of tourist traffic, particularly during the summer and winter seasons. With opportunities in hospitality, dining, retail, and outdoor adventure services, West Yellowstone offers a thriving environment for businesses catering to park visitors, snowmobilers, and those looking to get out and enjoy Montana's outdoor recreation. 

West Yellowstone, Montana

A rapidly growing town with a rich history, nestled along the Yellowstone River and framed by the stunning Absaroka Mountains, Livingston is known for its vibrant arts scene, historic downtown, and easy access to outdoor recreation, Livingston, as well as the nearby town Emigrant, are becoming an increasingly popular destination for visitors. This growth has opened up opportunities for commercial real estate investment, particularly in hospitality, retail and dining.  Close proximity to Bozeman and Yellowstone National Park, combined with a strong local economy and a welcoming, community-focused atmosphere, make Livingston a prime location for businesses looking to cater to tourists, outdoor enthusiasts, and locals alike.

Butte, Montana

Butte, Montana, a town with a rich mining history and unique character, offers a compelling opportunity for commercial real estate investment. As one of Montana’s most historically significant cities, Butte boasts a large collection of preserved historic buildings, creating a distinctive backdrop for retail, hospitality, and mixed-use developments. With its growing focus on tourism, outdoor recreation, and cultural events, Butte is attracting a new wave of visitors and businesses. The town’s strategic location along the I-90 corridor and its proximity to major hubs like Bozeman and Missoula add to its appeal for investors.

Bozeman, Montana

Known for its thriving economy, driven by a blend of tech, education, and tourism, Bozeman offers diverse opportunities for retail, hospitality, office spaces, and mixed-use developments. Home to Montana State University, the city attracts a steady influx of students, professionals, and visitors, contributing to its dynamic, year-round market. Its proximity to world-class outdoor recreation, including Yellowstone National Park, Big Sky Resort, and countless hiking, skiing, and fishing opportunities, draws tourists and outdoor enthusiasts alike. Bozeman's vibrant downtown, cultural amenities, and strong job market make it a highly desirable place to live and work, fueling demand for new businesses and commercial ventures. 

Belgrade, Montana

Belgrade, Montana, just a short drive from Bozeman and home to Bozeman Yellowstone International Airport, is rapidly emerging as a commercial real estate hotspot. With more affordable property prices compared to its neighboring cities and an expanding infrastructure, Belgrade is attracting businesses and investors seeking strategic growth opportunities. The town’s proximity to both Bozeman and major transportation routes makes it a prime location for commercial ventures, including retail, industrial, hospitality, and mixed-use developments. As the population in the Gallatin Valley continues to rise, Belgrade is benefiting from this regional growth, offering a more cost-effective entry point for those looking to tap into the area’s booming economy.

Willsall, Montana

As the surrounding region, including nearby Bozeman and Livingston, continues to grow, Wilsall provides an affordable entry point for investors looking to develop boutique hospitality, agritourism ventures, or small retail spaces that cater to both locals and visitors seeking a more tranquil escape. The town’s charm, agricultural heritage, and close-knit community make it an appealing option for those aiming to invest in a slower-paced, yet promising, commercial real estate market. With the increasing interest in rural tourism and sustainable development, Wilsall holds potential for long-term growth while preserving its authentic Montana spirit.

Lewistown, Montana

Known for its rich history, small-town appeal, and access to vast outdoor recreation, Lewistown is attracting increasing interest from businesses and investors looking for growth in a more rural setting. With its affordable property prices, Lewistown presents excellent opportunities for retail, hospitality, and mixed-use developments aimed at serving both the local population and the growing number of tourists drawn to its historic downtown, nearby state parks, and outdoor activities such as fishing, hunting, and hiking. As a regional hub for agriculture, healthcare, and education, Lewistown enjoys steady economic stability, making it a promising location for long-term commercial investment.

Dillon, Montana

As a regional hub for agriculture, education, and outdoor recreation, Dillon attracts a mix of local residents, students attending the University of Montana Western, and visitors drawn to nearby attractions such as the Beaverhead River and the Pioneer Mountains. The town's affordable property prices, historic charm, and access to key transportation routes like I-15 make it an attractive option for retail, hospitality, and mixed-use developments.

Virginia City, Montana

As a living history museum, Virginia City attracts visitors seeking a glimpse into Montana’s frontier past, making it an ideal location for businesses centered around tourism, such as boutique lodging, retail shops, restaurants, and cultural attractions. The town’s historic buildings and scenic setting provide a distinctive backdrop for commercial ventures that can capitalize on the growing interest in heritage tourism and the town’s seasonal influx of visitors. With its close proximity to Yellowstone National Park and the Madison River Valley, Virginia City is well-positioned to benefit from the region’s booming tourism industry.

Kalispell, Montana

Kalispell, Montana, situated at the gateway to Glacier National Park, is a rapidly growing city offering diverse opportunities for commercial real estate investment. As the largest city in the Flathead Valley, Kalispell serves as a regional economic hub, with a strong presence in industries such as healthcare, retail, manufacturing, and tourism. The city’s proximity to Glacier National Park and Flathead Lake makes it an attractive destination for outdoor enthusiasts, drawing tourists year-round for hiking, skiing, boating, and fishing.