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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 Albuquerque, New Mexico | ||
| Data | Albuquerque, NM | Nationwide |
|---|---|---|
| Population | 565.94 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 0.3054% | 0.5% |
| Median Household Income | $100,675 | $74,580 |
| Median Age | 37.83 | 38.9 |
| Residents per Business | 1 to 17 | 10 to 1 |
| Annual Household Expenditures | $16.89 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The automotive industry appears to be an enticing option in Albuquerque, New Mexico. With an estimated 418,754 total vehicles available and households having an average of 1.7 vehicles, there is a clear demand for automotive services.
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Home services franchises could also thrive in Albuquerque. The data shows a significant portion of homes built from 1970 to 1979 (17.1%), indicating potential demand for renovations, modernization, and maintenance services. With an owner-occupied median home value of $254,869 and a substantial 61.2% of housing units being owner-occupied, homeowners are likely to invest in maintaining and improving their property values. Services ranging from landscaping to remodeling could be well-received.
Lastly, the retail franchise industry should not be overlooked. The total retail expenditure in 2023 in Albuquerque was $7.95 billion, with food and beverages alone accounting for $2.48 billion. This suggests that food franchises, particularly those offering unique dining experiences or specialized cuisines, could find a welcoming market. Additionally, with monthly household expenditures on food and beverages at $859, there is evidence of discretionary spending that could benefit food retailers.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Albuquerque, New Mexico Franchise Opportunities (and Businesses for Sale)
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.