Around 65% of Americans have had an idea for starting a new business. About half of those would happily ditch their day job if they could raise the capital to launch the new venture.
Those brave enough to follow their dreams have a tough job on their hands. More than 800,000 new businesses open each year in the USA. Roughly 1 in 5 fold within the first two years, and less than half make it past the five-year mark. Fast forward a decade and only a third of the original businesses will still be turning a profit.
So what separates the businesses that survive and prosper from those that fail? There’s no simple answer. The whims and complexities of markets are far too complex for that.
But as a general rule, business owners that understand (and can adapt) to the principles of supply and demand have a much greater chance of success.
“You have to know what your customers want and how that might change,” says Anna Segovia, a digital marketing expert and the founder of Alterno Marketing. “Don’t tell people what they want. Ask them. Every successful business is based on genuine consumer demand.”
Now you can see what US customers really want, thanks to the latest study from ZenBusiness. Its researchers looked at new business keyword search data to find the most in-demand businesses in 50 of the USA’s biggest cities.
The study shows enormous demands for gyms, car washes, and restaurants in all of the USA’s major cities. In some cases, there are over 1,000 google searches per local business per month; that’s a lot of potential customers looking for somewhere new to spend their money.
Check the maps and charts below to find the best location for your next big business idea.
The Most In Demand Businesses in 50 US Cities, courtesy of ZenBusiness