Best Pharmacy Location in Salt Lake City
Marketlyzer calculates a 83/100 opportunity score for pharmacys in Salt Lake City, supported by high competition and $72,000 average income, plus a 71/100 foot traffic index.
With a startup-to-income ratio of 6.7:1, Salt Lake City requires efficient operations to maximize Pharmacy profitability
Pharmacy Opportunity Score
Data-driven potential for success in Salt Lake City based on 7 key market factors
Market Opportunity
Based on 7 comprehensive market factors
Financial Overview
Salt Lake City Pharmacy Insights
Data-driven analysis unique to this market combination
Market Position Analysis
Unique positioning insights for Salt Lake City
With a startup-to-income ratio of 6.7:1, Salt Lake City requires efficient operations to maximize Pharmacy profitability
The balanced Pharmacy market in Salt Lake City rewards innovation, with 71 foot traffic index
Competitive Market Position
How Salt Lake City ranks nationally for pharmacys
With a 83.65/100 opportunity score, Salt Lake City outperforms 75% of comparable markets for Pharmacy ventures
Average income of $72,000 positions Salt Lake City in the upper-middle market segment, ideal for value-focused Pharmacy concepts
Strategic Recommendations
Actionable strategies tailored for Salt Lake City
⏰ Market entry timing: Salt Lake City's Very High growth trajectory suggests immediate market entry to capture first-mover advantage before competition saturates
📍 Location strategy: Moderate traffic (71) with affordable rent ($30/sqft) favors larger footprint strategy in Salt Lake City - consider 2,000+ sqft locations
👥 Staffing advantage: 48% college-educated population provides strong talent pool - hire locally for Salt Lake City Pharmacy operations
📢 Marketing focus: Moderate foot traffic requires proactive customer acquisition - allocate 8-12% of revenue to digital marketing in Salt Lake City
Launch Timing & Momentum
Align your opening window with market-ready signals
Entry Signal
Good - Favorable Window
Strong market conditions support entry. Develop detailed business plan and secure financing within next 3-6 months.
- 🚀 Very high growth trajectory - first-mover advantage available
- ⚖️ Moderate competition - balanced market entry
- 🚶 Good foot traffic (71) - organic visibility
Seasonal Levers
- Flu season
- Cold and allergy seasons
- Insurance renewal periods
Pharmacy Market Analysis for Salt Lake City
Why Salt Lake City for Pharmacys?
- Metro population of 1,257,000 provides large customer base
- Average income of $72,000 supports pharmacy spending
- High business density indicates healthy economic activity
- Strong demographics opportunities throughout the city
- Strong accessibility opportunities throughout the city
Pharmacy Success Factors
Seasonal Considerations for Salt Lake City
Flu season
Cold and allergy seasons
Insurance renewal periods
Best Salt Lake City Neighborhoods for Pharmacys
Data-driven analysis of optimal areas based on pharmacy success factors
Downtown Salt Lake City
High PotentialBusiness District
Strong WeekdaySuburban Areas
Growth AreaSalt Lake City vs Other United States Cities for Pharmacys
Pharmacy FAQs for Salt Lake City
Why is now the right time to open in Salt Lake City?
With a 83.65/100 opportunity score, Salt Lake City outperforms 75% of comparable markets for Pharmacy ventures Strong market conditions support entry. Develop detailed business plan and secure financing within next 3-6 months.
Which customers convert best?
39% of households earn $75k+, sustaining premium spend for pharmacys
What should my first location focus on?
⏰ Market entry timing: Salt Lake City's Very High growth trajectory suggests immediate market entry to capture first-mover advantage before competition saturates
How do local conditions impact operations?
Flu season
Ready to Open Your Pharmacy in Salt Lake City?
Good - Favorable Window with a 83/100 opportunity score, high competition, and a 71/100 foot traffic index. Strong market conditions support entry. Develop detailed business plan and secure financing within next 3-6 months.