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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 Birmingham, Alabama | ||
| Data | Birmingham, AL | Nationwide |
|---|---|---|
| Population | 199.43 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 4.171% | 0.5% |
| Median Household Income | $73,278 | $74,580 |
| Median Age | 38.94 | 38.9 |
| Residents per Business | 1 to 17 | 10 to 1 |
| Annual Household Expenditures | $4.96 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Birmingham's impressive annual household income growth is not just a statistic; it's a testament to the city's expanding economy and the lucrative business opportunities that come with it. The average household income within a 5 mile radius of the city is projected to soar to $115,826 by 2028, making the market ripe for premium franchises. This financial uptick signals a golden opportunity for upscale beauty franchises and advanced health and fitness franchises, aligning perfectly with the current $411.08 million health care spend. These industries are cornerstones for businesses for sale that can promise not just services, but enhanced lifestyles to a clientele with growing wealth.
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The robust business sector, featuring 12,041 businesses and 545 headquarters, is a fertile landscape for business services franchises. The substantial non-retail expenditure of $2.67 billion reflects a city deeply invested in its commercial success, offering a wealth of B2B prospects. Franchises that provide essential services like printing, marketing, and consulting could become invaluable partners in this bustling business ecosystem, presenting a treasure trove of business opportunities for savvy entrepreneurs.
With $168.5 million spent on education, Birmingham's commitment to academic excellence is clear. Education franchises can capture this commitment by introducing cutting-edge learning platforms and services, catering to a community that champions intellectual enrichment. This is more than a market; it's a community eager to support educational development, turning these ventures into pivotal community assets.
In Birmingham's bustling economy, the daily commute is a significant aspect of life, with 68.2% of the workforce driving alone to work. This high percentage of solo drivers highlights the potential for auto franchises, which could offer a range of services from car repair to car washes, tapping into the routine maintenance needs of a large commuter base.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Birmingham, Alabama 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.