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The table below offers a collection of data aimed at giving potential franchisees a glimpse into their market landscape. Click Read More to delve deeper, uncovering additional information to assist you in making a well-informed decision. These insights are tailored to highlight the opportunities in your city as you consider a franchise purchase.
Key Data Points for Los Angeles, California | ||
Data | Los Angeles, CA | Nationwide |
---|---|---|
Population | 3.85 million | 333.2 million |
Proj. 5 Year Population Growth | 1.435% | 0.5% |
Median Household Income | $129,334 | $74,580 |
Median Age | 36.24 | 38.9 |
Residents per Business | 1 to 18 | 10 to 1 |
Annual Household Expenditures | $120.44 billion | $23.9 trillion |
City Data retrieved from https://sitesusa.com/Data |
Economic Indicators:
Income Levels: Within a 5 mile radius from the center center, the estimated average household income is $93,550, with a projected rise to $99,853 by 2028. The current median household income is $68,121, signifying substantial consumer spending capacity.
Consumer Expenditure: Annually, the total consumer expenditure amounts to $26.74 billion, with retail expenditure making up $12.51 billion, portraying a favorable scenario for retail franchises.
Read MoreBusiness Environment:
Daytime Demographics: A total of 107,821 employees within local businesses reflect a considerable demand for quick-service restaurants, coffee shops, and service-oriented franchises.
Company Headquarters: The presence of 341 company headquarters employing 21,027 individuals offers a potential market for business services franchises.
Expenditure Categories:
Noteworthy expenditure categories within Los Angeles include shelter ($5.76 billion), transportation ($4.79 billion), food and beverages ($3.95 billion), and health care ($2.18 billion), indicating substantial consumer spending in these sectors. This presents a fertile ground for business opportunities within these industries, such as food franchises.
The above insights reflect the promising prospects in Los Angeles for a range of businesses for sale, driven by affluent communities, a bustling daytime workforce, and diverse consumer spending habits.
Explore the franchise listings below and take the first step towards a rewarding business venture.
At Franchise Ventures, we prioritize transparency and objectivity to empower your franchise decisions. Unlike brokers or franchisors, our motivations are unclouded by financial incentives tied to your choices. We don't earn based on the franchise you opt for, instead, our mission is to present you with impartial insights. Navigate through a realm of franchising opportunities with information you can trust.
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