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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: Bangor, ME 2024 | ||
| Data | Bangor, ME | Nationwide |
|---|---|---|
| Population | 31.14 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -0.586% | 0.5% |
| Median Household Income | $90,065 | $74,580 |
| Median Age | 38.67 | 38.9 |
| Residents per Business | 1 to 14 | 10 to 1 |
| Annual Household Expenditures | $1.26 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Bangor's housing data shows a high percentage of owner-occupied units at 60.9% and a median home value of $193,370, alongside a robust annual expenditure on home furnishings and equipment of $32.91 million. This suggests a market for home services franchises, such as landscaping, cleaning, and renovation services. These businesses can capitalize on homeowners' investments in maintaining and improving their properties.
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Bangor's significant work-from-home population, accounting for 10.8% of the workforce, indicates a lifestyle that could benefit from home-based franchises. With an estimated average household income of $83,237 and a strong net worth of $731,618, there is disposable income available for services that offer convenience and support for home-based professionals. Franchises that specialize in home office setup, IT support, virtual fitness training, or even home-based learning and tutoring services can tap into this segment.
Lastly, considering the distribution of employment across various sectors, with 66.6% white-collar workers, there's an opportunity for business services franchises that offer professional services such as printing, consulting, and financial advice. With a total of 2,220 businesses and an employee population per business ratio of 14.9 to 1, services that cater to business operations can be in demand.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Bangor, Maine Franchise Opportunities (and Businesses for Sale)
| Order | Franchise Name | Industry Name | Available Capital | ||
|---|---|---|---|---|---|
| 1 |  | Proper Ecom Academy | Business Opportunities | $50,000 | |
| 2 |  | Automated Investments | Business Opportunities | $100,000 | |
| 3 |  | The UPS Store | Printing Packing & Shipping | $75,000 | |
| 4 |  | FranServe - Become a Franchise Consultant! | Business Services Franchises | $50,000 | |
| 5 |  | Batteries Plus | Retail Franchises | $100,000 | |
| 6 |  | Proper Ecom | Business Opportunities | $100,000 | |
| 7 |  | PostalAnnex+ | Printing Packing & Shipping | $70,000 | |
| 8 |  | My Business Venture | Computer & Internet Franchises | $10,000 | |
| 9 |  | Sky Zone Trampoline Park+ | Sports & Recreation Franchises | $500,000 | |
| 10 |  | Zoomin Groomin | Pet Franchises | $90,000 |
Is Bangor the Right Place to Launch Your Franchise?
- What's the business landscape like in Bangor?
- Is there a reliable workforce for my franchise?
- Are operational costs affordable in Bangor?
- How financially stable is the community?
- What makes Bangor a great fit for franchise owners?
Question:What's the business landscape like in Bangor?
Answer:Bangor is home to 14,721 businesses, meaning franchise owners can enter a market with less direct competition and a more localized customer base.
Question:Is there a reliable workforce for my franchise?
Answer:Yes! The city has 32,970 employed individuals, providing a steady and loyal workforce for franchise owners.
Question:Are operational costs affordable in Bangor?
Answer:Absolutely. With a median rent of $893, franchise owners in Bangor can benefit from lower real estate costs, making it easier to secure commercial space.
Question:How financially stable is the community?
Answer:The average household income in Bangor is $90,065, supporting a stable and engaged customer base.
Question:What makes Bangor a great fit for franchise owners?
Answer:With 15,900 housing units and a strong sense of community, Bangor provides a stable market where franchises can establish long-term success.
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.