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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 Amarillo, Texas | ||
| Data | Amarillo, TX | Nationwide |
|---|---|---|
| Population | 200.59 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -1.719% | 0.5% |
| Median Household Income | $97,105 | $74,580 |
| Median Age | 34.41 | 38.9 |
| Residents per Business | 1 to 22 | 10 to 1 |
| Annual Household Expenditures | $5.34 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
With the demographic data for Amarillo, TX, we can draw some informed conclusions about the most promising franchise industries for the area.
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The estimated average household income in Amarillo for 2023 is $97,105, with a projected increase to $103,072 by 2028. This level of income suggests that residents may have discretionary spending power that could support a variety of retail franchises. Considering that the total annual retail expenditure is $2.52 billion, industries like specialty retail could find a lucrative market. This could include franchises that offer unique products that cater to the local demographic, such as outdoor and sporting goods stores, given the proximity to outdoor attractions like Palo Duro Canyon, or perhaps western wear, which aligns with Amarillo's cultural heritage.
With 88.7% of housing units occupied and a median home value of $165,289, home services franchises could also thrive. The data indicates that most housing units are single, detached units, which could suggest a demand for home improvement, landscaping, and maintenance services. Additionally, with a substantial projected increase in household income and average net worth ($371,068), there could be a significant market for home remodeling and renovation services.
The food and beverage industry should not be overlooked. Amarillo residents spend $786.38 million on food and beverages annually, a significant portion of the consumer expenditure. This opens opportunities for both fast-casual and full-service restaurant franchises. Given the high percentage of households with 2 or more vehicles and the relatively short average travel time to work (16.5 minutes), convenience will be a key factor. Drive-thru and quick-service eateries that offer a unique dining experience or specialize in local cuisine could capitalize on Amarillo's busy, mobile population.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Amarillo, Texas Franchise Opportunities (and Businesses for Sale)
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