Casual Dining Market in Venice, California

Goals

To build a demographic profile of Venice, California to evaluate the potential for a casual dining restaurant in this area. Include the following specific demographics: age, income level, education level, population density, how often people eat out, and any other information about residents' disposable income. In addition, find information to support the assessment that people in this area are looking for simple, approachable, and affordable dining options.


Early Findings

We were able to build a comprehensive demographic profile for Venice, CA during this first hour of research. Venice has a population of just under 33,000 with a density of 10,359 people per square mile.

Age

  • College-age adults (age 18-22) make up only 2% of the population in Venice.
  • 15.3% of the population is between ages 22 and 29.
  • 22% of Venice residents are in their 30s, 15.7% are in their 40s, and 12.4% are in their 50s.
  • 16.8% of residents are in their 60s or 70s, and only 2.8% of the population is over age 80.

Race and Ethnicity

  • 69.4% of the population in Venice is white.
  • 16.3% of the population is Hispanic.
  • 5.9% of the population is African American, and 4.4% is Asian.
  • 4.1% of the population identifies as "mixed" or "other."

Income and Employment

  • The median household income level in Venice is $95,500 per year.
  • 71.9% of the population is employed, and 6% is unemployed. 22.1% does not participate in the workforce and is not looking for work.
  • 69.1% of women and 74.6% of men in Venice have jobs. Common employment industries in this neighborhood are entertainment, management, engineering, science, computers/mathematics, law, business, healthcare, education, and social services.
  • Venice has the 9th lowest rate of food stamps usage out of 120 Los Angeles neighborhoods.

Education Level

  • 38.9% of the Venice population over age 25 has a bachelor's degree.
  • 23.2% of the population over age 25 has either a master's degree, professional credential beyond a bachelor's, or a doctorate.
  • 17.3% of the population over age 25 has "some college" experience, and 4.5% has an associate's degree.
  • A high school diploma is the highest level of educational attainment for 10% of people over age 25 in Venice.
  • 6% of the population over age 25 either did not attend or did not graduate from high school.

Marital Status

  • 43% of women and 51% of men in Venice have never been married.
  • 37% of women and 35% of men are currently married. 79.4% of married couples both work outside the home.
  • 16% of women and 13% of men are currently separated or divorced.

Proposed next steps:

You need to be the project owner to select a next step.
We recommend continued research to find 2-3 insights supporting the assessment that people in Venice, CA are looking for simple, approachable, and affordable dining options. For each insight, we will 1) describe what is, 2) explain why we chose it, and 3) provide 2-3 specific qualitative or quantitative data points to support it.
In addition to the demographic profile that we were able to build during this first hour of research, we recommend developing a psychographic profile for Venice, CA. We will examine residents' hobbies, interests, motivations, attitudes, beliefs, and aspirations (as available). We will specifically include any available information about their dining habits and disposable income.