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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 Edison, New Jersey | ||
| Data | Edison, NJ | Nationwide |
|---|---|---|
| Population | 15.23 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 4.8502% | 0.5% |
| Median Household Income | $149,459 | $74,580 |
| Median Age | 36.49 | 38.9 |
| Residents per Business | 1 to 27 | 10 to 1 |
| Annual Household Expenditures | $587.7 million | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Based on the data for Edison, NJ, within a 5-mile radius, we can pinpoint several promising industries for new franchisees.
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With an estimated average household net worth of $1.47 million in 2023, the population of Edison has significant spending power, which may translate into a willingness to invest in personal well-being. The estimated population density of 3,831 people per square mile also indicates a concentrated customer base for fitness centers and health clubs, which could thrive in such an affluent and densely populated area. Franchises offering specialized fitness classes, personal training, and wellness services could capitalize on Edison’s higher disposable incomes.
The housing data in Edison indicates a significant proportion of owner-occupied homes (60.0%) with a median home value of $398,757, suggesting a stable and affluent residential community that may require home improvement services. With the substantial annual expenditure on household operations ($369.79 million) and furnishings and equipment ($330.12 million), there is clear evidence of spending in the home services sector. Franchises that offer interior design, renovation, landscaping, and maintenance services could find a lucrative market in Edison.
Considering that 95.4% of the housing units are occupied and there is an average of 1.7 vehicles per household, there is a significant opportunity for automotive franchises in Edison. Services such as car washes, auto repairs, and maintenance could be in high demand, especially since 71.5% of the vehicles are associated with owner-occupied households, which might place a high value on vehicle care and maintenance.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Edison, New Jersey Franchise Opportunities (and Businesses for Sale)
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