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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 Buffalo, New York | ||
| Data | Buffalo, NY | Nationwide |
|---|---|---|
| Population | 264.9 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 5.8328% | 0.5% |
| Median Household Income | $77,379 | $74,580 |
| Median Age | 33.56 | 38.9 |
| Residents per Business | 1 to 32 | 10 to 1 |
| Annual Household Expenditures | $6.93 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The health and fitness industry appears to be a strong candidate in Buffalo, New York. With a total annual consumer expenditure on health care at $588.78 million and personal care at $93.09 million, there is clear evidence of consumer spending in areas related to health and wellbeing. Franchises that offer fitness centers, wellness programs, or specialty health services could potentially tap into this market segment.
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The home services industry is another area of opportunity. With an estimated 119,073 households in 2023, and a significant number of homes being owner-occupied (56.3%), services such as landscaping, maintenance, and home improvement are likely in demand in Buffalo. This is supported by the fact that there is a substantial proportion of the housing stock dating back before 1939 (50.6%), which may require more frequent repairs and upgrades.
Education franchises also have potential in Buffalo, given the $207.94 million annual consumer expenditure on education. With a sizable population of 264,896, educational services for all age groups including early childhood education, tutoring, and career training, might find a stable market.
Lastly, the food industry should not be overlooked. Buffalo's annual consumer expenditure on food and beverages is quite high at $1.03 billion. 14.8% of the monthly household consumer expenditure in 2023 was on food and beverages in Buffalo, illustrating the significance of this category in the residents' spending habits. Franchises that provide fast-casual dining, ethnic cuisines, or specialty food services may find a welcoming market in Buffalo.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Buffalo, New York Franchise Opportunities (and Businesses for Sale)
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