Located in McLean County, Bloomington is a small city in Illinois with an equally small population of 72,416. Bloomington is home to Illinois Wesleyan University and its economy thrives on the education system as well as insurance institutions, financial institutions and manufacturing companies.

Demographics

According to the July 2007 census Bloomington has a total population of 72,416, in which households total 26,642 with an average household size of 2.34; and families total 15,718 with an average family size of 3.04. The city is relatively diverse when compared to many others having a white population of 84.92%, an African American population of 8.64%, an Asian population of 3.02%. The rest of the population is made up of Hispanics, Pacific Islanders, Native Americans and other races. The average household income in Bloomington was listed at $ 46,496.

Business data

State Farm Insurance Company is by far the biggest employer in Bloomington accounting for 15,297 jobs in McLean County. Country Financial accounts for 2,204 jobs also in McLean County; Illinois Wesleyan University also employs many citizens having made available a total of 570 jobs. Based on the average household income in this city it would suggest that most of the population is middle class and is accustomed to a fairly good quality of life.

Based on the available information it would seem like the best sectors to venture into would be in the financial institution or in education. This is however not the case since competing with a successful business formula brings more problems and financial stress than if you were to concentrate on a niche market with a lot of potential. These niche markets are in the areas of providing services for the educational and health sectors as well as for recreation.

The population of those who are 65 or older and live alone is 9.9%. This could be very important data for starting an elderly health care facility, ensure that it goes beyond a bed and Friday night entertainment but that it gives a community feel; elderly people like a sense of community.

Bloomington’s seclusion of sorts makes it a kind of a getaway. One can take advantage of this as everyone likes to know that their vacation will be affordable and interesting and Bloomington definitely delivers in these areas.

A community college can be seen as what is missing from the Bloomington educational system. It would cater to those who leave high school and for whatever reason do not get to attend a standard four-year college. The fact that it is locally situated would provide a huge incentive for those who cannot afford to move out of the city.