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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 Frederick, Maryland | ||
| Data | Frederick, MD | Nationwide |
|---|---|---|
| Population | 84.3 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -11.482% | 0.5% |
| Median Household Income | $123,134 | $74,580 |
| Median Age | 35.8 | 38.9 |
| Residents per Business | 1 to 21 | 10 to 1 |
| Annual Household Expenditures | $2.68 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The average household income in Frederick, MD is estimated at $123,134 in 2023, with a median household income of $95,421. This financial health suggests a consumer base with disposable income, making the food industry particularly appealing. A franchise in the premium food sector, such as upscale cafes or specialty cuisine restaurants, could capitalize on this higher spending power. The city's significant retail expenditure of $1.26 billion further supports this, with food and beverages constituting $388.7 million. This indicates a strong market for food services, which can be a lucrative avenue for franchising.
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The housing data indicates that 69.6% of housing units are owner-occupied, and the median home value is $353,397. This suggests a stable and potentially growing real estate market, possibly driven by the projected population growth of 2.4% annually from 2023-2028. Home services franchises that focus on home improvement, lawn care, and maintenance could find a robust market here. Given that there is a significant portion of homes built from 1990 to 2009 (36.5%), services related to renovation and modernization could be in demand.
Finally, the transportation data shows that 11.8% of workers in Frederick work at home, which suggests familiar ground for home-based services. This aligns with the trend towards home-based work and the need for services that support this lifestyle.
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Frederick, Maryland Franchise Opportunities (and Businesses for Sale)
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