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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 Akron, Ohio | ||
| Data | Akron, OH | Nationwide |
|---|---|---|
| Population | 190.61 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 2.3434% | 0.5% |
| Median Household Income | $72,422 | $74,580 |
| Median Age | 35.83 | 38.9 |
| Residents per Business | 1 to 27 | 10 to 1 |
| Annual Household Expenditures | $4.61 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The health and fitness industry could be a strong contender for franchising in Akron. With an annual expenditure of $396.73 million on health care, Akron residents show a commitment to health-related spending. This industry could tap into the recent trend of wellness and personal health.
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Home services franchises could also find Akron fertile ground, as 72.9% of housing units are single detached units and the owner-occupied median home value stands at $137,549. This indicates a homeowner market with the potential for services such as landscaping, cleaning, and renovations. Furthermore, the city’s historical growth in average household income at 3.2% from 2000 to 2023 suggests growing consumer spending power that could be channeled into home improvement.
Lastly, the automotive industry should not be overlooked. With only 11.4% of households not having access to a vehicle in Akron, there is an opening for automotive service franchises. The existing households with vehicles (88.6%) will require maintenance and repair services, and franchises offering affordable and reliable services could perform well. The transportation expenditure stands at $834.57 million annually, emphasizing the importance of vehicles in residents' lives.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Akron, Ohio Franchise Opportunities (and Businesses for Sale)
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