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Starting a Small Business in Illinois

Welcome to the Small Business Startup Illinois Franchise Directory! Here, you’ll find everything you need to begin your journey to business ownership in The Prairie State. If you’re thinking about starting a small business in Illinois, read on for an overview of the state economy. Afterward, explore business opportunities and franchises for sale with our llinois Franchise Search Tool.

Illinois Industry Trends

If an industry is performing well, business opportunities within it are often worth exploring. Begin your market research with this list of the Illinois economy's largest industries in 2022. Afterward, take your research one step further by investigating niche markets and B2B opportunities within one of these top revenue-generating industries.

Drug, Cosmetic & Toiletry Wholesaling (Revenue: $75.8 billion)
Property, Casualty & Direct Insurance (Revenue: $67.2 billion)
Commercial Banking (Revenue: $51.1 billion)
Hospitals (Revenue: $46.2 billion)
Health & Medical Insurance (Revenue: $44.6 billion)
Gasoline & Petroleum Wholesaling (Revenue: $42.2 billion)
New Car Dealers (Revenue: $42.1 billion)
Colleges & Universities (Revenue: $33.7 billion)
Video Games (Revenue: $32.5 billion)
Brand Name Pharmaceutical Manufacturing (Revenue: $31.9 billion)

Illinois Sector Statistics

When starting a small business in Illinois, gross domestic product (GDP) is another tool that entrepreneurs can use to make investment decisions. Generally, a steadily rising GDP means that people are spending more money and more jobs are being created.

The three sectors that contributed most to Illinois’ GDP in 2022 were Manufacturing; Real Estate, Rentals & Leasing; and Finance & Insurance. Combined, these three sectors represented 38.7% of the state’s GDP. In 2022, the 10 sectors that contributed most to Illinois’ GDP included:

Manufacturing (Value: $110.8 billion* | Annual growth: 3.3%)
Real Estate, Rentals & Leasing (Value: $92.5 billion* | Annual growth: -0.7%)
Finance and Insurance (Value: $77 billion* | Annual growth: 3.8%)
Professional, Scientific & Technical Services (Value: $74.8 billion* | Annual growth: 4.0%)
Wholesale Trade (Value: $58.7 billion* | Annual growth: 0.2%)
Healthcare & Social Assistance (Value: $56 billion* | Annual growth: 0.8%)
Retail Trade (Value: $42 billion* | Annual growth: 0.5%)
Media Production & Distribution (Value: $41.6 billion* | Annual growth: 7.4%)
Administration, Business Support & Waste Management Services (Value: $31.2 billion* | Annual growth: 7.0%)
Transportation and Warehousing (Value: $25.5 billion* | Annual growth: -2.3%)

*Approximately

Illinois Population Statistics

A growing population often means greater demand and a steady flow of new customers. If you are undecided about the location of your new business, start by investigating population statistics. Afterward, take your research a step further by exploring population demographics. By doing so, you can decide whether a location is a good match for your target market.

In 2022, counties with the highest populations in Illinois included:

Cook (Population: 5 million | Annual growth rate*: -0.6%)
DuPage (Population: 908,8k | Annual growth rate*: -0.5%)
Lake (Population: 687,600 | Annual growth rate*: -0.4%)
Will (Population: 687,500 | Annual growth rate*: -0.1%)
Kane (Population: 530,000 | Annual growth rate*: -0.1%)
McHenry (Population: 304,100 | Annual growth rate*: -0.3%)
Winnebago (Population: 279,000 | Annual growth rate*: -0.4%)
Madison (Population: 260,900 | Annual growth rate*: -0.3%)
St. Clair (Population: 254,900 | Annual growth rate*: -0.6%)
Champaign (Population: 208,500 | Annual growth rate*: -0.2%)
Sangamon (Population: 191,900 | Annual growth rate*: -0.5%)
Peoria (Population: 174,400 | Annual growth rate*: -0.9%)
Mclean (Population: 170,500 | Annual growth rate*: -0.2%)
Rock Island (Population: 139,100 | Annual growth rate*: -0.6%)
Kendall (Population: 133,800 | Annual growth rate*: 1.2%)
Tazewell (Population: 129,100 | Annual growth rate*: -0.7%)
Kankakee (Population: 107,200 | Annual growth rate*: -0.6%)
Lasalle (Population: 106,100 | Annual growth rate*: -0.7%)
Dekalb (Population: 104,200 | Annual growth rate*: -0.2%)
Macon (Population: 101,400 | Annual growth rate*: -0.8%)

*From 2017 to 2022.

Illinois Business Opportunities

We hope this snapshot of the Illinois economy helps as you investigate business opportunities in The Prairie State! Starting a small business in Illinois is an exciting journey, and we know you’re probably eager to get started. But remember, take your time to explore all your options. While you’ll always have the “opportunity” to start your own business, sometimes, it makes more sense to invest in an opportunity that already exists. These are called “Franchise Opportunities,” and they offer several benefits, including the recognition of a well-established brand and a proven track record of success.

To learn more, start by exploring franchise opportunities in Illinois, below!

Explore Opportunities and Insights

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Five Star Painting

Five Star Painting, a Neighborly company, is the nation's leading residential and commercial painting services franchise. With us, business ownership is a stroke of genius

$50,000 Min Cash Required

PostalAnnex

Today's busy lifestyles demand the services PostalAnnex offers. Capitalize on this demand and open your own business After retiring from the printing business PostalAnnex founder Jack Lentz began working out of his home as a business consultant. He soon realized the need for mailing faxing copying shipping and other services to belong under one roof. As a result he created the first PostalAnnex store business franchise located next door to a post office in the University City neighborhood of San Diego CA. Our franchises serve a growing customer base of small and home-based businesses that lacks the resources our stores offer. Today's hectic lifestyle requires a one-stop service center for businesses that don't have an administrative assistant to take care of those daily errands. Saving our consumers time is what keeps them coming back. By being a local neighborhood business

$70,000 Min Cash Required

Automated Investments

Automated Investments is the pillar of e-Commerce automation. Automated Investments build and operate profitable and hands off Amazon FBA (Fulfilled-By-Amazon) businesses for their clients and investors. While the clients and investors act as the capital partners, Automated Investments works tirelessly behind the scenes as the operation partners providing 20-50 monthly ROI. Automated Investments handles the Amazon store creation, product research, product purchasing, Amazon FBA product prep, shipping the inventory to your Amazon FBA store, full complete custom support and ongoing management. We lift our fingers so you dont have to.

$100,000 Min Cash Required

Aire Serv

Aire Serv, a Neighborly company, is the nation's leading heating, ventilation, and air conditioning services franchise. With us, you'll stay cool while your business heats up

$50,000 Min Cash Required

iSMASH

iSmash is the 1 Rage Room Franchise. Low Investment, Average 198k Net Profit in a Thriving Entertainment Market.

$150,000 Min Cash Required

ATAX

With our proven system, your franchise business can run smoothly and efficiently while achieving consistent, measurable, growth. Decades of documented franchise and business success have enabled us to develop a business system that drives customer loyalty, repeat business, and financial stability. Get best-in-class ongoing support from our team to run and manage your franchise business. We provide end-to-end franchise solutions from getting started to licensing assistance.

Starting a Small Business in Illinois