01
With 73/100 foot traffic and moderate competition, Providence offers balanced risk-reward for new concepts.
Verified Market Research
Best Business Location in Providence
Providence offers 1,676,000 metro customers, $52,000 average income, and high commercial activity—ideal conditions for data-led site selection.
1,676,000 metro residents. $52K typical annual income.
66 readiness score (B)
1,676,000 metro residents
$52,000 average income
1,676K
Metro Population
$52K
Avg Income
High
Business Density
5
Major Industries
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Interactive map analysis for Providence. Click any area to reveal foot traffic patterns, competitor density, and demographic insights for your business.
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Providence, United States
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Opportunity Zones
High Traffic Areas
1,676,000 potential customers in metro area
500+ businesses helped
Real-time market data
AI-powered recommendations
Providence Business Environment
Market Insights
- 1,676,000 metro residents. $52K typical annual income.
- At $28/sqft and $52K earnings, the value ratio lands at 1.5x.
- Walk-by traffic scores 73. Space costs $28/sqft. Weigh discovery against overhead.
- A 1,676,000-person metro with 73/100 pedestrian activity.
- Growth outlook: Moderate. Competitive pressure: Moderate.
- Budget-friendly at $28/sqft. Expand your footprint or keep costs lean.
- Key sectors: Education, Healthcare. Average incomes: $52,000.
- Located in Rhode Island, United States with USD currency
Top Industries
Education
Healthcare
Finance
Manufacturing
Tourism
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Providence Neighborhood Analysis
Discover the best neighborhoods for your business type in Providence
Providence offers a mix of commercial settings including the central business district, neighborhood retail corridors, and emerging development areas—each with unique rent-to-traffic dynamics
In Providence, balancing rent costs with customer accessibility is critical—many thriving businesses find sweet spots in secondary corridors near major thoroughfares
Extended metro area provides 8.8x population reach beyond city limits, supporting suburban expansion strategies
Downtown/City Center
- • Highest foot traffic density
- • Premium rental costs
- • Best for retail & restaurants
- • Excellent public transport access
Business Districts
- • High concentration of offices
- • Ideal for B2B services
- • Strong weekday traffic
- • Growing food & beverage demand
Suburban Areas
- • Lower rental costs
- • Family-oriented demographics
- • Ample parking availability
- • Good for service businesses
Emerging Areas
- • High growth potential
- • Lower competition density
- • Opportunity for early movers
- • Rising property values
Providence Business Readiness Score
Data-driven viability assessment
B
66
Overall Score
12
market size
12
income level
16
business activity
14
foot traffic
12
growth outlook
Best Business Types for Providence
Find location-specific insights for different business types in Providence
Restaurant in Providence
Analyze foot traffic patterns, demographics, and competition for restaurants
View analysis
Retail Store in Providence
Find high-traffic retail locations with ideal customer demographics
View analysis
Coffee Shop in Providence
Locate areas with morning traffic and office worker density
View analysis
Industry Synergy Opportunities in Providence
Top industries creating demand for specific business types
Education
Students and faculty drive consistent demand for affordable services
Best Business Types:
Coffee Shop
Restaurant
Retail Store
Healthcare
Healthcare clusters attract patients and create medical service demand
Best Business Types:
Medical Clinic
Dental Office
Pharmacy
Finance
High-income professionals support premium services and luxury retail
Best Business Types:
Restaurant
Salon & Spa
Retail Store
Cost Analysis
Cost of Operations in Providence
Financial breakdown for a 1,500 sq ft location
Startup Investment
Basic Setup
3 months rent + basics
Standard Buildout
6 months rent + furnishing
Premium Finish
12 months rent + premium
Monthly Operating
Rent (1,500 sqft)
$42,000
Utilities & Services
$4,200
Labor (2 employees)
$4,160
Total Monthly
Break-even target
Cost Insights
Affordable rent at $28/sqft enables competitive pricing strategies
Providence Market Entry Timing
Data-driven signals for optimal business launch timing
38
/ 100
Cautious - High Preparation
Current conditions in Providence favor waiting over rushing. Spend 6-12 months building relationships, studying successful operators, and refining your concept. Enter when you can identify a clear opening that competitors haven't filled.
Entry Timing Factors
⚖️
Moderate competition - balanced market entry
🚶
Good foot traffic (73) - organic visibility
Business Performance in Providence
Market dynamics and success indicators
Providence supports 110% more businesses per capita than typical markets, demonstrating strong local purchasing power
Local businesses average 7.2 years of operation—above the 5.8-year national median
Market Signals
Providence Insights That Guide Expansion
Each metric is generated for this city so every page tells a different story about demand, rents, and timing.
02
A 1,500-sq-ft space at $28/sq ft equates to 9.7x local income, so contribution margins must stay premium.
03
Pedestrian flow posts 73/100 (7% below the mean), guiding how much budget you reserve for paid acquisition.
04
The metro catchment is 8.8x larger than city limits (1,676,000 vs 190,000), opening suburban roll-out paths once the core site is stable.
05
Providence's economy leans on Education, Healthcare, Finance, so co-marketing with those clusters accelerates adoption.
FAQ
Frequently Asked Questions About Providence
Answers refresh based on Providence's live data so there's no duplicate copy across cities.
Can I rely on organic foot traffic in Providence?
Yes—pedestrian flow scores 73/100, about 7% below the cross-market average, so plan signage and staffing around steady discovery.
How far can I scale within the Providence metro?
The metro area pulls 8.8x the population of city proper, so once the flagship location performs you can replicate into surrounding districts without leaving the DMA.
How crowded is the Providence market?
Providence's moderate competition means you're competing for share in a market of 1,676,000. Focus on customer retention from day one.
What growth trajectory is Providence on?
Providence carries a moderate growth potential rating, which shapes whether you sprint into multi-unit rollout or pace hiring.
How expensive is retail space relative to incomes in Providence?
A 1,500-sq-ft footprint at $28/sq ft runs roughly 9.7x the local average income ($52,000). Layer in menu engineering or ticket-size plays to offset the rent load.
Data Sources & Methodology
Our analysis combines multiple authoritative data sources
Economic Data
- World Bank Open Data
- International Monetary Fund (IMF)
- National Census Bureaus
Business Intelligence
- Ease of Doing Business Index
- Global Innovation Index
- Industry Association Reports
Demographics
- UN Population Division
- Municipal Open Data Portals
- Consumer Expenditure Surveys
Real Estate
- Commercial Real Estate Listings
- CoStar Market Analytics
- Local Zoning Databases
Methodology Note: Our opportunity scores are calculated using a weighted algorithm that considers population density, income levels, competition saturation, commercial rent costs, and industry-specific success factors. Data is refreshed quarterly from authoritative sources. Individual results may vary based on specific business circumstances, local regulations, and market conditions not captured in aggregate data.
From Analysis to Address: Providence
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