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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 Bridgeport, Connecticut | ||
| Data | Bridgeport, CT | Nationwide |
|---|---|---|
| Population | 147.81 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 3.1153% | 0.5% |
| Median Household Income | $83,942 | $74,580 |
| Median Age | 33.85 | 38.9 |
| Residents per Business | 1 to 17 | 10 to 1 |
| Annual Household Expenditures | $3.36 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Analyzing the data for Bridgeport, CT, there are several key indicators that suggest viable franchise industries. The estimated average household income in 2023 stands at $83,942 and is projected to rise to $94,691 by 2028, which signifies growing consumer spending power.
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Given a significant portion of the population in Bridgeport comprises 1 and 2 person households (32.0% and 27.6%, respectively), there is an opportunity for food franchises, especially those offering convenience. A significant expenditure on food and beverages in Bridgeport annually, accounting for $493.29 million, further supports the potential success of food franchises. Fast-casual restaurants, coffee shops, or specialty food services that cater to busy lifestyles, indicated by the average travel time to work of 22.2 minutes, could do well in this environment.
The health care expenditure of $278.97 million also suggests a considerable focus on health and wellness within the community. This financial commitment to health could be leveraged by health and fitness franchises offering gym memberships, wellness programs, or health food stores.
Home services franchises appear to be another promising venture in Bridgeport, with a median home value of $285,267 and high owner occupancy rates. The data suggests potential for franchises specializing in home improvements, maintenance, and repair services. Considering the median age of homes is 64.3 years, there may be a significant demand for renovation and preservation services.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Bridgeport, Connecticut Franchise Opportunities (and Businesses for Sale)
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