Starting a Small Business in Louisiana

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

Louisiana 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 Louisiana economy's most prominent 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. 

1. Petroleum Refining (Revenue: $95.0 billion)
2. Oil Drilling & Gas Extraction (Revenue: $36.9 billion)
3. Gasoline & Petroleum Bulk Stations (Revenue: $30.5 billion)
4. Public Schools (Revenue: $18.6 billion)
5. Hospitals (Revenue: $17.4 billion)
6. New Car Dealers  (Revenue: $14.9 billion)
7. Warehouse Clubs & Supercenters (Revenue: $12.2 billion)
8. Health & Medical Insurance (Revenue: $11.8 billion)
9. Gas Stations with Convenience Stores (Revenue: $11.1 billion)
10. Supermarkets & Grocery Stores (Revenue: $9.2 billion)

Louisiana Sector Statistics

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

The three sectors that contributed most to Louisiana's GDP in 2022 were Manufacturing; Real Estate, Rentals & Leasing; and Healthcare & Social Assistance. Combined, these three sectors represented 46.1% of the state's GDP. In 2022, the sectors that contributed most to Louisiana's GDP included:

1. Manufacturing (Value: $48.8 billion* | Annual growth: -0.7%)
2. Real Estate, Rentals & Leasing (Value: $25.1 billion* | Annual growth: 0.6%)
3. Healthcare & Social Assistance (Value: $18.6 billion* | Annual growth: 3.0%)
4. Retail Trade (Value: $14.6 billion* | Annual growth: -0.5%)
5. Wholesale Trade (Value: $11.3 billion* | Annual growth: -1.1%)
6. Finance and Insurance (Value: $10.7 billion* | Annual growth: 5.5%)
7. Professional, Scientific & Technical Services (Value: $10.5 billion* | Annual growth: 0.1%)
8. Construction (Value: $10.4 billion* | Annual growth: -1.4%)
9. Mining (Value: $8.9 billion* | Annual growth: -11.3%)
10. Administration, Business Support & Waste Management Services (Value: $6.8 billion* | Annual growth: 5.5%)
11. Transportation & Warehousing (Value: $6.2 billion* | Annual growth: -4.0%)
12. Accommodation & Food Services (Value: $5.6 billion* | Annual growth: -0.3%)
13. Information (Value: $5.4 billion* | Annual growth: 1.2%)
14. Utilities (Value: $4.4 billion* | Annual growth: -2.8%)
15. Other Services (except Public Administration)  (Value: $4.0 billion* | Annual growth: -0.9%)

*Approximately

Louisiana 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. Doing so lets you decide whether a location is a good match for your target market. 

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

1. East Baton Rouge Parish (Population: 436,700 | Annual growth rate*: -0.3%)
2. Jefferson Parish (Population: 429,900 | Annual growth rate*: -0.3%)
3. Orleans Parish (Population: 387,800 | Annual growth rate*: -0.2%)
4. St. Tammany Parish (Population: 268,400 | Annual growth rate*: 0.9%)
5. Lafayette Parish (Population: 249,600 | Annual growth rate*: 0.6%)
6. Caddo Parish (Population: 232,000 | Annual growth rate*: -1.2%)
7. Calcasieu Parish (Population: 203,500 | Annual growth rate*: N/A)
8. Ouachita Parish (Population: 150,400 | Annual growth rate*: -0.7%)
9. Livingston Parish (Population: 147,400 | Annual growth rate*: 1.3%)
10. Tangipahoa Parish (Population: 140,000 | Annual growth rate*: 1.2%)
11. Ascension Parish (Population: 132,400 | Annual growth rate*: 1.4%)
12. Bossier Parish (Population: 127,500 | Annual growth rate*: 0.1%)
13. Rapides Parish (Population: 126,800 | Annual growth rate*: -0.7%)
14. Terrebonne Parish (Population: 108,500 | Annual growth rate*: -0.6%)
15. Lafourche Parish (Population: 97,400 | Annual growth rate*: -0.1%)

*From 2017 to 2022.

Louisiana Business Opportunities

We hope this snapshot of the Louisiana economy helps as you investigate business opportunities in The Bayou State! Starting a small business in Louisiana is an exciting journey; we know you're probably eager to start. 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 Louisiana below!