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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 Bangor, Maine | ||
| Data | Bangor, ME | Nationwide |
|---|---|---|
| Population | 33.62 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -5.3616% | 0.5% |
| Median Household Income | $83,237 | $74,580 |
| Median Age | 39.64 | 38.9 |
| Residents per Business | 1 to 15 | 10 to 1 |
| Annual Household Expenditures | $939.29 million | $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)
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.