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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 El Paso, Texas | ||
| Data | El Paso, TX | Nationwide |
|---|---|---|
| Population | 675.05 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 1.016% | 0.5% |
| Median Household Income | $87,195 | $74,580 |
| Median Age | 33.23 | 38.9 |
| Residents per Business | 1 to 27 | 10 to 1 |
| Annual Household Expenditures | $15.12 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The automotive franchise industry in El Paso, Texas stands out as a promising avenue. With an estimated 442,449 total vehicles, the demand for automotive services such as repairs, maintenance, and parts is likely to be consistent. The average vehicle per household is 1.9, and given the 75.2% of workers who drive to work alone, the reliance on private vehicles is high. This reliance on personal transportation suggests a sustainable customer base for automotive franchises.
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Home services franchises also emerge as a potential growth sector. The data shows a significant number of owner-occupied homes (144,145 or 60.3% of the total occupied units), with a median home value of $153,474, which is indicative of a homeowner base that may require home improvement, landscaping, cleaning, and maintenance services. With the median age of homes at 41 years, there's a likely need for renovations and upgrades, thus providing ample opportunities for franchises that specialize in these areas.
Lastly, the food franchise industry is worth considering. El Paso's total annual consumer expenditure on food and beverages is $2.24 billion, which is a significant portion (14.8%) of the monthly household consumer expenditure. Given the estimated 675,051 population in 2023, the market size in El Paso remains substantial for food services. Furthermore, considering that 10.6% of the workforce works from home, there is potential for franchises that offer delivery or take-out services to capitalize on this segment of the population.
Explore the franchise listings below and take the first step towards a rewarding business venture.
El Paso, Texas Franchise Opportunities (and Businesses for Sale)
At Franchise Ventures, we prioritize transparency and objectivity to empower your franchise decisions. Unlike brokers or franchisors, our motivations are unclouded by financial incentives tied to your choices. We don't earn based on the franchise you opt for, instead, our mission is to present you with impartial insights. Navigate through a realm of franchising opportunities with information you can trust.