Study: Most in-demand local businesses include...
Car rental services, tailors and gloabl restaurants are among the most in-demand local businesses in the United States.
That’s according to a new analysis from small business lender OnDeck Capital, which measured search volume data to compare the number of businesses by type to the number of monthly Google searches for that service, nationwide and in major U.S. cities. The higher the search volume relative to the number of businesses, the more sought-after the local business and the higher the score.
OnDeck found that car rental businesses are by far the most sought-after local business type, with 34 monthly searches per car rental business currently operating in the U.S. (full list found later in article.) This is 71.7% higher demand than the second most-sought local business type, tailoring (19.8 searches per business).
[READ MORE: Survey: Small businesses cite cost and time savings as top AI benefits]
Tailors followed behind at 19.8 monthly searches per business, with dog cafes coming in third at 17.5 searches per business. Mexican, Chinese, Indian, Korean and Greek restaurants all feature in OnDeck’s top 10 most in-demand local restaurants, but kebab shops receive 14.5 monthly web searches per business, making them the most desired restaurant type.
Thrift stores came in ninth on the OnDeck list, but in certain markets, they are more in demand. In New York City, the sector had a score of 24.2 monthly searches per business, while also taking the top spot in Boston (36.9), Philadelphia (18.3) and Seattle (35.7).
“For a local business to be sustainable, there has to be a continual and growing community need,” noted OnDeck Capital. “Our study has provided insight into the most in-demand types of business across the U.S., but what else should you do to ensure your new business is both popular and profitable? With solid planning and research, you can help safeguard your business as a sustainable and lucrative venture while ensuring it is of real value to your local community.”
Top 10 most in-demand local business types in the U.S.:
- Car rentals (34.0 searches per business)
- Tailors (19.8)
- Dog cafes (17.5)
- Kebab shops (14.5)
- Pubs (8.7)
- French restaurants (8.7)
- Plumbers (8.2)
- Locksmiths (8.1)
- Thrift stores (6.3)
- Greek restaurants (5.3)
The 10 most in-demand local restaurant types in the U.S.:
- Kebab shops (14.5)
- French restaurants (8.7)
- Greek restaurants (5.3)
- Steakhouses (5.2)
- Diners (4.8)
- Korean restaurants (4.1)
- Indian restaurants (3.7)
- Chinese restaurants (1.8)
- Mexican restaurants (1.5)
- Donut shops (1.3)
Methodology
To determine which are the most in-demand businesses and restaurant types in the U.S. and for major cities, OnDeck compared the count of businesses by type to the monthly Google search volume for that type. A higher search volume relative to the number of businesses indicates more demand, and a lower relative search volume indicates less demand.
OnDeck retrieved the count of each business type and restaurant nationally and for nine major cities using Google’s API. Next, it sourced the monthly search volume for each business type and restaurant using Semrush data. The total search volume was then divided by the number of businesses to obtain the relative demand for each business/restaurant in each location.
