Business Opportunities in Delaware
In your quest for business and franchise opportunities, Delaware stands as an intriguing option on the East Coast. Nestled within this state's boundaries are numerous business opportunities waiting to be explored. As you delve into the prospects that Delaware has to offer, we've compiled essential information and data to assist you in making well-informed decisions. Below, you'll find a wealth of crucial details about the state's demographics, business landscape, and more.
| Population per Square Mile | 508 |
| Per Capita Income | $42,180 |
| Total Employer Establishments | 28,553 |
| Total Employment | 408,714 |
| Total Retail Sales per Capita | $18,444 |
Delaware's economic landscape presents a unique mix of attributes for potential business opportunities. The state's population density of 508 people per square mile, along with a per capita income of $42,180, indicates a moderately populated region with a relatively high earning potential. Additionally, the total retail sales per capita of $18,444 suggest a healthy consumer market.
Delaware experienced a real GDP growth rate of 1.0% in the first quarter of 2023, indicating steady economic growth. The state's real GDP was $86.0 billion in goods and services per year, with significant contributions from the finance and insurance sector, which accounted for $19.4 billion of this figure. Another notable sector is transportation and warehousing, which saw a remarkable growth rate of 13.0% per year.
Delaware's industry landscape is varied, with a strong legacy in chemicals and a leading position in the financial services industry. Key industries that dominate the state's economy include science and technology, business and financial services, food and agriculture, manufacturing and logistics, and education and healthcare. This diversity, coupled with the state's second-lowest business costs in the U.S., world-class research universities, and internationally-oriented workforce, positions Delaware as an attractive location for new businesses and capital investment.
Cities and Industries
Newark, DE, presents promising opportunities for franchise ventures, particularly in the automotive and home services sectors. The transportation industry, with a high percentage of residents driving to work alone (67.0%), signifies a robust demand for automotive services. Additionally, residents allocate a significant portion of their expenditures, approximately $757.11 million, towards transportation-related expenses, emphasizing the market potential.
Furthermore, the real estate and construction industry show promise, offering opportunities for home services and renovation projects. With a median home age of 45.5 years, there's a demand for home improvement and maintenance services. Residents collectively spend around $1.36 billion on shelter-related expenses, making this industry a lucrative option for franchising.
In Wilmington, approximately 21.3% of the workforce, or 20,124 individuals, work from home. This substantial remote working population presents a conducive environment for home-based franchises, such as online consulting, e-commerce ventures, and online tutoring services. Additionally, with 656 company headquarters and a total of 12,085 businesses in the area, there is a strong market for business services franchises that can offer tailored solutions to these corporate entities.
Website Analytics
With a relatively low level of engagement on our website from Delaware visitors, it appears that the market for business opportunities in the state is currently unsaturated. The bounce rate of 77.09% and the average session duration of 51 seconds suggest that there may be untapped potential for those interested in entering the world of franchising in Delaware. This data indicates that now could be an opportune time to explore franchise opportunities in the state and establish a presence in this growing market.
Franchise Opportunities
Discover a variety of business and franchise opportunities in Delaware by exploring our extensive list of options below.
Facts About Delaware
| Capital: | Dover |
| Year of Statehood: | 1717 |
| Largest Cities: | Wilmington, Newark |
| Motto: | Liberty and Independence |
| Nickname: | The First State |
The First State for Entrepreneurs
- Delaware was ranked as the 18th overall state in the U.S. News & World Report's state rankings. (source)
- Delaware was also ranked 16th in terms of economy. (source)
- Delaware is a preferred state for company incorporation, with over 1.9 million legal entities, including nearly 68.2% of all Fortune 500 companies. (source)
- Delaware earned the #3 overall state ranking in economic dynamism, which reflects the state's ability to attract young businesses and foster innovation. (source)
Current Opportunities in Delaware:
Crave is searching for franchise partners in the U.S. At Crave we offer BBQ, Hot Dogs, Self Pour Beer, Ax Throwing and so much More! We are one of the fastest growing Hot Dog franchises, winner of best southern BBQ and…
80k Minimum Cash Required
Sniffing around for a great new opportunity? Zoomin Groomin is expanding our Mobile Pet Grooming business nationwide. Set your own schedule, be your own boss and work with pets all day. We’ll be right by your side, every…
100k Minimum Cash Required
ATAX Tax Service is your premier destination for comprehensive and reliable tax assistance.
40k Minimum Cash Required
Lawn Pride is a rapidly growing lawn care franchise, but you don't have to get your hands dirty to be an owner. Operating within a growing and recession-resilient industry that provides in-demand services, franchise…
50k Minimum Cash Required
Did you know you could partner with a company to build out your entire e-commerce store, from product research to inventory acquisition to marketing? Yep! You can easily make 6-7 figures in passive income when we build your…
30k Minimum Cash Required
There is NO better business model that is designed to excel in inflation, recession, and uncertain times. We help you create the ultimate MONTHLY cash flow for years by helping companies save money when they need it. Buy a…
70k Minimum Cash Required
Most Popular Industries & Categories
As of April 18, 2024: