The Rocky Mountain State is home to some of the country’s most luxurious ski resorts and mountain escapes. It’s also ideal for biking, hiking, and many other outdoor adventures. Additionally, Colorado is also a great place to enjoy food and relaxation in world-class spas. In other words, there are plenty of reasons to love living in Colorado. Did you know that it’s also a great place to start a business? In particular, Hispanic franchises in Colorado are thriving!
Colorado Springs, Denver, Aurora, and Fort Collins are the four most heavily populated cities in Colorado. They also boast a high-quality standard of living and happen to have a strong Latino market presence. Let’s learn more about these market opportunities for Hispanic franchise entrepreneurs.
The biggest city—Denver—is an excellent choice for Hispanic franchise owners in Colorado. Not only does it have a total population of well over 700,000 people, but almost 30 percent of them declare they’re Hispanic.
Denver also has a median household income of over $70,000 and the average age of its residents is just over 34 years old. All these factors make the Mile-High City highly desirable for entrepreneurs of any ethnicity.
If you haven’t been to Colorado Springs, the city is worth a visit just to witness the inspirational awe of The Garden of the Gods. This national landmark is a biodiverse-rich area of nature that can make you feel connected to Mother Earth like never before.
Because of its natural beauty, many people are attracted to Colorado Springs as a place to call home, making it the second most populated city in the state.
Similar to Denver, this second city has a high Latino presence (around 18 percent), and its residents make a decent annual wage at just over $67,000. The average age of its citizens is nearly identical to the Mile-High City.
With five world-class golf courses, two gorgeous reservoirs, more than 97 breathtaking parks, and thousands of acres of open space and trails, it’s no wonder that people want to live in Aurora.
Residents are of a similar age range and earn a comparable annual income as the people in Denver and Colorado Springs. The Hispanic population is nearly as dense as Denver’s, at just over 28 percent. With these demographics and the adventurous lifestyle available to its residents and visitors, Aurora appears well-suited for Hispanic business owners in Colorado.
Craft beer aficionados take note: Fort Collins is known as the Beer Capitol of Colorado! Of course, the Anheuser-Busch brewery and its glorious Clydesdales are open for public viewing, but that’s a bit of yesteryear. Today, it’s the microbrews that comprise all the buzz in the beer industry. If you’re a fan of this still-growing trend, you should visit Fort Collins to take in the hops of a complex, citrusy IPA; It’s like a film buff visiting Cannes.
As you can imagine, Fort Collins is also known to have a slightly younger-than-average median age, at slightly under 30 years. The city’s median income is strong at over $70,000, but its Hispanic population is slightly less dense than the other three top cities in the state, at just over 12 percent.
If you’re looking to start a Hispanic business in Colorado, craft beer may not be the best choice, as the market is pretty saturated at this point. However, an insurance franchise business offers an investment well worth your consideration.
While all four of the previously mentioned cities in Colorado have amazing sites to see and a diverse population with money to spend, there’s one largely untapped market that you might want to consider as an entrepreneur.
The insurance industry has a high potential for success. Many Hispanic franchises in Colorado exist that cater to the adventurous lifestyle of hiking and biking, the seeker of gourmet Latin food, and those looking for specialty shops and boutiques. However, the insurance business appears ripe for the taking.
With that in mind, consider the benefits of becoming an insurance franchisee for your Hispanic-owned business in Colorado. As a franchisee, you still get to act as your own boss, but you also get the training, support, and brand recognition that comes with a proven provider’s name.
If becoming an insurance franchisee in Colorado sounds like an option you want to investigate, your first question is likely, how much do Hispanic franchise owners make?
The insurance industry is known to produce a high payout, with many franchisees earning well over six figures. Couple that with the fact that business in Colorado is booming and possesses a strong Latin presence, and you may want to investigate the possibility of becoming next in the growing line of Hispanic business owners in the area.
Latino entrepreneurs are paving the way for the rest of the startup community in the U.S. Nationwide, they comprise 17 percent of the market today. As impressive as that is, JP Morgan estimates that number increasing to 29 percent by 2050.
If you’re ready to join the growing trend of Hispanic franchises in Colorado and an insurance business sounds like a way to make it happen, contact Freeway Franchise at (877) 822-3024 today, or fill out our online form for more information. One of our franchise experts will provide all the information you need to get started in working as your own boss and making great money.