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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 Fredericksburg, Virginia | ||
| Data | Fredericksburg, VA | Nationwide |
|---|---|---|
| Population | 28.9 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -9.0358% | 0.5% |
| Median Household Income | $120,025 | $74,580 |
| Median Age | 30.49 | 38.9 |
| Residents per Business | 1 to 12 | 10 to 1 |
| Annual Household Expenditures | $926.43 million | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Analyzing the comprehensive data for Fredericksburg, VA, we can pinpoint several promising franchise industries. With an estimated population of 28,901 in 2023 and a projected increase to 31,636 by 2028, there's an expanding customer base for various services. The average household income in 2023 was $120,025, and the estimated average household net worth was $717,855, suggesting a community with spending power.
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The Health and Fitness industry appears to be a solid choice for a franchise in Fredericksburg. With the high average household income and net worth, residents may be more likely to invest in their health and wellness. Considering the total annual consumer expenditure on health care is $74.02 million, there is a clear demand for health-related services, making it conducive for gyms, wellness centers, and specialized fitness studios to thrive.
The Food and Beverage industry presents another prime opportunity. Fredericksburg's annual expenditure on food and beverages is considerable at $134.15 million. There's potential for franchises that offer unique dining experiences, specialty foods, or even gourmet take-out services, catering to a market that values quality and convenience.
The Retail sector is another promising industry in Fredericksburg, particularly in niches that align with the demographics' spending habits. With total retail expenditure at $432.08 million, there's room for specialty retail franchises that offer unique products not found in big-box stores. This could include high-end apparel, specialty home goods, or technology gadgets, tapping into the community's disposable income.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Fredericksburg, Virginia Franchise Opportunities (and Businesses for Sale)
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