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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 Danbury, Connecticut | ||
| Data | Danbury, CT | Nationwide |
|---|---|---|
| Population | 86.04 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -1.6425% | 0.5% |
| Median Household Income | $128,073 | $74,580 |
| Median Age | 36.78 | 38.9 |
| Residents per Business | 1 to 12 | 10 to 1 |
| Annual Household Expenditures | $2.75 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The average household income in Danbury, CT is estimated at $128,073 in 2023, with a projected increase to $137,595 by 2028. This indicates a community with spending power, which is a positive indicator for the franchise industry.
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With an estimated 32,698 households in 2023 and a homeowner percentage of 62.4%, there's a clear prevalence of homeownership in the city. This environment is conducive to home services franchises, especially those offering renovation, landscaping, and maintenance services. Given the median home value of $357,706, franchises that offer services appealing to middle and upper-middle-class homeowners could find a receptive market in Danbury.
The transportation data indicates that 19.4% of the workforce in Danbury works from home, which is quite significant. This emerging trend suggests there is a growing market for home-based businesses. Franchises that offer services such as home-office setup, organization, and IT support could capitalize on this trend.
The educational expenditure in Danbury suggests that there's a commitment to learning and development within the community. With $94.32 million projected to be spent on education, franchises in the education sector, such as tutoring services or educational centers, could fill a niche.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Danbury, Connecticut Franchise Opportunities (and Businesses for Sale)
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