Why Your New Neighbors May Hold the Key to Your Business Success (Infographic)

min read
Opinions expressed by Entrepreneur contributors are their own.

Of course you know that finding loyal customers is important to your business’s success. But you might be surprised to learn that new residents may be bringing in more business than long-time residents.

According to data compiled by Welcomemat Services, an Atlanta-based marketing company, new residents spend more in their first six months in town than an established resident does over three years.

The top five small businesses most likely to benefit from new residents include pizza and family restaurants, car washes, hair salons and hardware stores. The U.S. Postal Service estimates that 42 million households change their addresses every year, which means there are a lot of potential new customers for local businesses.

See the infographic below for more on how new residents boost local small businesses.  

Click to Enlarge (+)

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Starting, buying, or growing your small business shouldn’t be hard. Guidant Financial works to make financing easy for current and aspiring small business owners by providing custom funding solutions, financing education, and more.

Latest on Entrepreneur

Entrepreneur Media, Inc. values your privacy. In order to understand how people use our site generally, and to create more valuable experiences for you, we may collect data about your use of this site (both directly and through our partners). By continuing to use this site, you are agreeing to the use of that data. For more information on our data policies, please visit our Privacy Policy.