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Which Businesses Are In Demand
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We use cookies to ensure we give you the best experience on our website. If you continue to use this website, we assume that you are happy with it. OkPrivacy Policy If you are thinking of starting a small business, you must have passion. But don’t let passion trump your business acumen.
Your idea to start a specific business in a particular city is only as good as the research you have done. Supply and demand are factors in business success, and if your city is already overwhelmed by the type of business you’re planning, you may be out of luck. Whether it’s a relocation or a change in business plans, it’s time to change something.
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Americans opened 839,978 new businesses last year. And, despite reports, not all of them are dollar generals. Unfortunately, about 20% of new businesses are lost within two years. After five years, half of it remains.
You want to tip the odds in your favor. We’ve identified the types of businesses in the 50 largest cities in the United States.
American cities are hungry. Who feeds them? Google searches for food are highest relative to the number of related businesses in 17 major cities, including Chicago, Las Vegas and Detroit. Of these, seven cities require Indian food. In fact, people in Las Vegas search for Indian restaurants 1,009 times per month per local restaurant, which is the largest supply/demand disparity in our study.
But when you consider restaurant specialties as separate business types, gyms take over as the most common best business—outpacing searches in 15 cities. Gyms are thriving due to the culture shift towards self-care and low-budget memberships.
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However, you still need to know your location: the demand for gyms compared to the supply is twenty times greater in Fort Worth than in Long Beach, where a fair balance has already been reached.
Next, we’ve compiled our results across the 50 most populous US cities to get a broader look at how America tries to shop. Pizza receives the most searches overall (1,652,000), but is only the fourth best business to start with, with 14,743 pizzerias already in our sample area.
Pizza is famous for its options and the same goes for pizzerias. If you’re hungry for a piece of the pizza business, your first decision is whether to own an existing brand or go it alone. You need to decide what combination of dine-in, pickup or delivery and what extras and options you offer. And then there’s the menu…
If you dream of becoming a Comic Book Guy (or Gal), the good news is that the business is viable in most parts of urban America (at least more than Leftorium or Mr. Plow). Comic shops in all 50 cities in our study (28, 290) have low search volume, but with 492 businesses available to answer these needs, there is a promising demand/supply ratio. The comic world is full of strong (if morally questionable) entrepreneurial role models to inspire you.
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Supply and demand should not be your only concern when starting a business. Pair our industry-specific tools with Inc’s comprehensive guide to cities where factors such as job creation, wage growth and financial transactions are thriving. But make sure you study our statistics and do your own research on local interest in a product or service you’re interested in. As our research proves, the demand in most American cities is higher than you might think.
We pulled popular business types from Yelp’s Categories and grouped them into industries. The number of businesses in each category in America’s 50 most populous cities (obtained from the US Census Bureau) was found using the Yelp Fusion API. For each type of business, keywords are arranged by adding terms such as “restaurants,” “shops,” “shops,” “salons,” etc., depending on the type of business.
We then aggregated the Google search volumes for each keyword related to a specific business in each city type, using DataForSEO, using the term “near me”, for example, “Indian restaurants near me”. The competitiveness of each business type in each city was estimated by dividing the number of searches for that business by the number of businesses of that type in that city. The final data set spans 159 business types across 14 industries and the 50 most populous cities in the United States. What jobs will be needed in 2025? â… Please enable JavaScript What jobs are needed in 2025? – CollegeOnomics
Small businesses have added a lot of help in the transportation and material moving categories in recent years. But the automation of many small business operations appears to have led to a decline in demand for the people who used to fill these jobs.
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Looking at the most recent (between 2014 and 2016) declines in small business employment, it found that employment in business and financial operations actually declined significantly during that time, by 58 percent. Office and administrative support jobs also fell significantly, at a rate of 36 percent.
Just as small business sales and related jobs fell by 33 and 32 percent, respectively, over the same period, jobs in the computer and math categories also saw sharp declines.
While it doesn’t really come out as to why these jobs in small businesses are declining so rapidly, it’s reasonable to believe that a big reason behind this is the automation tools that are now available to businesses – which weren’t there before. 2014. – It may replace or at least try to replace these posts.
Until driverless rigs and drones dominate this country’s roads and skies, jobs in transportation and related categories seem secure.
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In fact, other job categories that are declining in small businesses are food preparation and serving (18 percent), installation, maintenance, and repair (17 percent), management (16 percent), health care support (15 percent), and housekeeping. Architecture and Engineering (13 percent).
Do these numbers apply to your small business? Have you noticed less demand for low-demand positions lately? Or is your business bucking the trend? Let us know in the comments below.
Joshua Sophy is an editor and head of content partnerships for Small Business Trends. A journalist with 20 years of experience in traditional and online media, he is a member of the Association of Professional Journalists. He started his own local newspaper, Pottsville
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