Business Opportunities in Missouri
Welcome to our dedicated Missouri page, where we delve into the heart of the Show-Me State's thriving business landscape. Whether you're a prospective franchisee seeking exciting business opportunities or an entrepreneur looking to tap into Missouri's dynamic economy, you've come to the right place.
|Population per Square Mile||89.5|
|Per Capita Income||$36,754|
|Total Employer Establishments||152,286|
|Total Employment||2.4 million|
|Total Retail Sales per Capita||$16,427|
Missouri's economic landscape is characterized by notable metrics such as a population density of 89.5 per square mile, a per capita income of $36,754, and a total retail sales per capita of $16,427. These figures provide a snapshot of the state's economic vitality and potential market for franchises.
Missouri's economy ranks 22nd in size among U.S. states and Washington, D.C., with a real GDP growth rate of 2.6% in the first quarter of 2023. The state's real GDP was $393.3 billion, accounting for 1.5% of the United States economy. Manufacturing leads in real GDP contributions at $49.3 billion.
Agriculture and forestry contribute substantially to the state's economy, with over $88.4 billion in economic input and extensive land coverage dedicated to farming. The manufacturing sector is another key industry, accounting for about 12.8% of the state's output, translating to approximately $40.7 billion. The service sector, encompassing government, financial services, retail and wholesale trade, real estate, and social and health services, forms a large part of the economy.
This overview of Missouri's economic and demographic landscape underscores the state's potential for business opportunities, especially in industries such as agriculture, manufacturing, aerospace, and services. The stability and diversity of Missouri's economy, coupled with its strategic location and developed infrastructure, make it an attractive destination for both emerging and established franchise businesses.
Cities and Industries
In Kansas City, Missouri, the area is characterized by a high percentage (20.2%) of individuals working from home, which could indicate an opportunity for delivery franchises and home-based businesses.
The city’s occupational makeup is heavily weighted towards white-collar professions, with 61.1% of the workforce engaged in management, business, financial operations, and professional services. The service sector is another significant employer, with 17,753 individuals, while sales and office roles provide jobs for 22,189 people. This concentration in white-collar and service industries suggests ample opportunities for franchises in business services and professional development sectors.
St. Louis presents a notable market for shelter-related franchises, with significant annual expenditures on shelter reaching $1.32 billion. This level of investment signals opportunities for home services, furnishing, and real estate franchises that cater to an aging housing stock with a median home age of over 71 years.
The transportation to work data reveals that a substantial 59.7% of the workforce drives to work alone, and another 6.2% carpools. This reliance on personal vehicles, combined with the $1.1 billion spent annually on transportation, underscores the significance of the automotive industry in the daily lives of residents. The high utilization of personal vehicles for commuting suggests a sustainable demand for automotive franchises, including repair shops, dealerships, parts stores, and car washes, which can serve a large segment of the population.
Analyzing the data from our Missouri visitors unveils a compelling business prospect for prospective franchisees. With a notable bounce rate of 76.65% and an average session duration of merely 51 seconds, it's evident that Missouri visitors are spending limited time on our site. This data hints at an intriguing gap in the market. If potential franchisees are not dedicating substantial time to our platform, it could signify a lack of exploration in the realm of business opportunities in Missouri. This situation offers proactive individuals the chance to capitalize on this relatively low engagement and potentially establish themselves as pioneers in the Missouri franchise market through swift action.
Discover the diverse range of businesses for sale in Missouri below.
Facts About Missouri
|Year of Statehood:||1821|
|Largest Cities:||Kansas City, Springfield|
|Motto:||Let the welfare of the people be the supreme|
|Nickname:||The Show-Me State|
The Show-Me Business Success State
- Missouri's economy ranks 22nd in size among U.S. states and Washington, D.C. (source)
- The state's real GDP growth rate in the first quarter of 2023 was 2.6% per year. (source)
- Missouri's largest industry by GDP was manufacturing, with a total value of $49.3 billion per year. (source)
- The Missouri 2030 initiative has been launched as a strategic plan to prepare the workforce, foster a competitive business climate, and unite the business community. (source)
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