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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 Chattanooga, Tennessee | ||
| Data | Chattanooga, TN | Nationwide |
|---|---|---|
| Population | 188.52 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -8.5576% | 0.5% |
| Median Household Income | $95,495 | $74,580 |
| Median Age | 38.07 | 38.9 |
| Residents per Business | 1 to 13 | 10 to 1 |
| Annual Household Expenditures | $5.55 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Chattanooga's annual consumer expenditure on health care is estimated at $466.84 million, which indicates a robust market for health-related services. The annual food and beverage consumer expenditure sits at an impressive $812.91 million, a clear signal of Chattanooga's strong market potential for food-related franchises. The city's trade area size is 150.1 square miles, providing ample space for new establishments.
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With an estimated 140,295 total vehicles available and an average of 1.7 vehicles per household, the demand for automotive services could be high in Chattanooga. Particularly, households with 3 or more vehicles available stand at 17.7%, suggesting a market for maintenance, repair, and servicing franchises. The data also reveals that a significant portion of the population commutes to work, with 71% driving alone, which could further necessitate automotive services.
Considering the homeowner-occupied median home value of $253,757 and that 67.3% of units are detached homes, there's a considerable market for home services such as renovation, landscaping, and maintenance. The mix of older and newer homes (median age of homes is 48 years) also indicates potential for both upkeep of older structures and installation of modern amenities in newer ones. The annual growth in housing units and the high rate of occupancy (91.7%) underscore the ongoing need for home services.
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Chattanooga, Tennessee Franchise Opportunities (and Businesses for Sale)
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