I have been tasked with performing demographic analysis of the city of Colorado Springs in order to determine the demographic breakdown of the city. I am to analyze how the breakdown of Colorado Springs compares to the rest of its county, the state of Colorado, and the U.S. as a whole. I am to use this information to develop a business model that fits the most marketable demographic of the city.
According to my population pyramids of the city, the city has an overabundance of 20 to 29 year-old males (Figure 1). This is most likely due to both the Air Force Academy, and Cheyenne Mountain. The city also has a high number of citizens between 40 to 54 years old and an almost equally high percentage between 5 to 19 years old.(Figure 1).
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| Figure 1: Population Pyramids |
According to the Dependency Ratios I calculated, Colorado Springs has a slightly higher dependency ratio than the rest of the state. The entire population of the area is supported by the 53.7% that is actually working. This indicates both a large population of both youth and elderly.
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| Figure 2: Colorado Springs |
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| Figure 3: State of Colorado |
My Location Quotient calculations indicated the population of Colorado Springs has a different make-up from the rest of the Country (Figure 4). Colorado Springs has more population between 0-14 years of age, and more population racially classified as "White" than the US average (Figure 5). There is no difference between the percentage of the population that identifies itself as "Hispanic" in Colorado Springs from the US as a whole (Figure 5). Colorado Springs has significantly fewer elderly than the national average (Figure 5).
Economically, Colorado Springs is below average according to the percent of persons in the Finance industry when compared to the rest of the state (Figure 6). Professionals make-up the exact same percentage of Colorado Springs' and the State's industries (Figure 6). There are slightly higher percentages of persons in Educational and Arts related fields in Colorado Springs than the state as a whole (Figure 6). Other service industries and Public Administration are substantially higher represented in Colorado Springs than in the rest of the state (Figure 6).
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| Figure 4: Population Percentages |
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| Figure 5: Location Quotient |
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| Figure 6: Industry Location Quotients |
Based on my analysis of the population of Colorado Springs, I have determined that the 20-29 year-old males are going to be the demographic our business will try to cater toward. I propose we develop the "Man Cave", a restaurant and entertainment experience featuring: airsoft/paintball, huge t.v. screens, a fully stocked bar with craft brews galore, a wide variety wings, and an extensive arcade. We will establish ourselves as the place for all of the air force academy students to spend all of their time and money.
