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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!

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iSMASH

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

$150,000 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

CartCapital - Subscription Based E-Commerce Store

Did you know you could partner with a company to build out your entire e-commerce store, from product research to inventory acquisition to marketing? Yep You can easily make 6-7 figures in passive income when we build your e-commerce empire and money-making machine from the ground up All it takes is an upfront investment, and our team will do the rest. By this time next year, you could be sitting on a 7 figure empire. Request more information now

$30,000 Min Cash Required

ClaimTek Systems

Why Medical/Dental Billing is the business for you... No Experience Needed Great Income Potential Flexibility to work at home, on the road, basically anywhere you have Internet access. ClaimTek is the most trusted Medical/Dental Billing business opportunity in the industry. We are the only company with expertise in billing, software development, and business development over the last 25 years and the services we offer are IN DEMAND The Need: As hiring, managing, and compensating employees has become increasingly challenging for small businesses, outsourced healthcare billing and revenue cycle management services is the future for small to mid-size medical and dental practices. And that is where Claimtek comes in. Healthcare services is virtually recession-proof and the 1 sector for growth according to the U.S. Bureau of Labor

$20,000 Min Cash Required

Batteries Plus

Over 30 years of consistent growth. Ongoing support. Multiple revenue streams. Whether youre looking into owning your very first store, or youre interested in adding to your existing franchise portfolio, Batteries Plus is here to help. Learn more about the costs, benefits, and available locations today

$100,000 Min Cash Required

Ace Handyman Services

Since being acquired by Ace Hardware in September of 2019, we are pairing our deep experience in this booming industry with a recognizable home brand name. Now is the time to get in on the ground floor of this growing franchise opportunity and utilize your prior business experience with our own methods. We are offering a reasonable cost of entry in a segment that is booming, and is not just a fashionable trend, but a strong consumer need as essential as utilities for a home. With the DIY (Do It Yourself) market declining and the DIFM (Do It For Me) market increasing, now is the time to join a recognizable home brand in this 400 Billion Dollar industry. We have been tasked with bringing helpful handyman services to all of the Ace Hardware customers homes.

Starting a Small Business in Illinois