Business Opportunities in Montana

Montana's economic and demographic landscape offers a unique and evolving environment for franchises. The retail sales per capita stands at $16,070, reflecting a consumer market with spending power.

The state's economy is witnessing robust growth, with a real GDP growth rate of 6.0% in the first quarter of 2023. The state's unemployment rate, at 2.8% as of October 2023, is lower than the national average. 

Montana's diverse mix of industries plays a significant role in its economic growth. The agriculture industry, with a production value exceeding $4.0 billion, is a major economic driver. The tourism and recreation industry remains a vital sector. The healthcare sector, employing around 68,000 people, has been reshaped by the adoption of telehealth. Additionally, with over 4,100 manufacturing firms, manufacturing has become a key pillar of Montana's economy, contributing more than 20% to the state’s economic base.

Despite its largely rural character, Montana is steadily urbanizing, particularly in its small cities which are emerging as centers of commerce and trade. Population growth has been concentrated in the Western Mountain region, attracting people with its natural amenities. Key cities like Missoula, Kalispell, Bozeman, Helena, Butte, Billings, and Great Falls are becoming increasingly urbanized and influential in the state's economy.

Cities and Industries

One industry that could thrive in Great Falls is the automotive sector. The city's transportation data indicates that 78.9% of workers drive to work alone, showcasing a car-dependent population. Moreover, the total annual consumer expenditure on transportation in Great Falls is a substantial $345.02 million in 2023. This data suggests a significant market for automotive-related franchises, such as auto repair shops or vehicle maintenance services, to cater to the city's transportation needs. 

Billings, MT, presents a lucrative opportunity for businesses in the home improvement industry. With a substantial expenditure of $106.91 million on home furnishings and equipment, residents demonstrate a strong inclination towards enhancing their living spaces. Additionally, there was a considerable expenditure of $641.18 million on shelter in 2023. The median age of homes in the area is 48.3 years, suggesting a potential market for renovations and upgrades. Entrepreneurs looking to cater to the demand for home improvement and shelter-related products and services could find a receptive and growing audience in Billings.

Website Analytics

Our website analytics reveal intriguing insights: visitors from Montana have a high 81.23% bounce rate. On average, visitors explore just 1.44 pages per session, with an average session duration of 45 seconds. While this data may indicate limited engagement, it presents a unique advantage for entrepreneurs looking to enter a less saturated market. Montana's relatively low franchise activity offers an open playing field for ambitious franchisees seeking uncharted territories.

Franchise Opportunities

Explore a diverse range of business and franchise openings in Montana by delving into our extensive selection of options listed below.