The target market of Cuyahoga county has a higher concentration of folks in the lower income bracket than does the State of Ohio. This is self evident when we compare the Income distribution of both the target market and the State in general. When we combine the first three income classes of folks making under $10k, between $10k to $15k, and between $15k to $25k per year, we find that Cuyahoga County has 30.1% of its population in these 3 combined income classes - now when we conduct a similar analysis for the State of Ohio, we find that the same lowest three income classes only cover 25.7% of the total population.
We can see this income distribution disparity reverse itself and once again confirm our original conclusion when we compare the combined income distribution for folks who earn between $50k to $150k. The State of Ohio has 41.8% percent of its population in these combined income classes whereas our target market of Cuyahoga County actually has 37.7% of its total population in the same income classes.
There is little doubt this is because of the fact that Cuyahoga County contains the greater Cleveland area that has many more folks struggling to stay above the poverty line. While there is little doubt that demographics like these have an impact on all businesses operating in any target market, what is also very important to remember is that while inner cities and metropolitan areas tend to have a higher share of folks with lower income, they also tend to have a greater density of population and housing and that of course is a plus for an electrical contracting business like Lights On Electrical.
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