According to the Small Business Administration, small businesses make up 99.7% of all firms in the U.S. and employ almost half of the country’s private workforce. In Lafayette, Louisiana, that number is likely even higher. Why? Because this city is known for being a hotbed for entrepreneurship. In fact, Lafayette was recently ranked as the #3 city in the nation for startup activity by Nerdwallet.com. So, what are some of the most common businesses that people open up in Lafayette? Let’s take a closer look.
Restaurants
One of the most popular types of businesses to open in Lafayette is a restaurant. And it’s no wonder why. After all, this city is known for its delicious Cajun cuisine. In fact, there are over 300 restaurants in Lafayette, which equates to one restaurant for every 252 people living in the city (according to data from the Lafayette Economic Development Authority). Not only that, but restaurants here generate an annual revenue of $600 million! Some of the most popular spots include The Blue Dog Cafe, Prejean’s Restaurant, and Copeland’s of New Orleans.
Stores
Another common type of business in Lafayette is a retail store. Retail stores generated $1.6 billion in sales last year alone! That’s because shopping is one of the most popular things to do here. In fact, there are over 1,100 retail establishments in Lafayette, which means shoppers have plenty of options to choose from when they’re looking for something specific. Popular stores include Academy Sports + Outdoors, Journey’s, and Bath & Body Works.
Lawn Care
Lawn care businesses are also quite common in Lafayette due to the city’s hot and humid climate (which is ideal for growing grass). If you’re thinking about starting a lawn care business here, you’ll be happy to know that there’s a great demand for such services. In fact, 55% of residents say they would rather outsource lawn care than do it themselves (according to data from ServiceScape). Check out this local lawn care provider in Lafayette for one such example.
Barber Shop/Salon
Another type of business that does quite well in Lafayette is a barber shop or salon. This is likely due to the fact that people here take pride in their appearance and want to look their best no matter what occasion they’re dressing for. There are over 100 such businesses in the city, and they generate an annual revenue of $38 million! Some of the most popular places include Salon W., Geeaux different Haircuts & Styles For Men & Boys , and Hip Hues Hair Color Studio & Spa .
Conclusion
When it comes to small businesses, Lafayette knows what it’s doing. This city is full of entrepreneurs who are always coming up with new and innovative ideas for businesses. Whether you’re looking to open a restaurant, retail store, or even a lawn care business, you’re likely to find success here thanks to the high demand for such services. So what are you waiting for? Start brainstorming your own small business idea today!
