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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 Hialeah, Florida | ||
| Data | Hialeah, FL | Nationwide |
|---|---|---|
| Population | 215.48 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -4.3332% | 0.5% |
| Median Household Income | $80,023 | $74,580 |
| Median Age | 44.6 | 38.9 |
| Residents per Business | 1 to 12 | 10 to 1 |
| Annual Household Expenditures | $4.31 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The automotive industry presents a promising opportunity in Hialeah, Florida. With an estimated average household income of $80,023 in 2023, projected to rise to $82,681 by 2028, and a high percentage of households with vehicles (10.9% with 0 vehicles, 36.3% with 1 vehicle, 34.0% with 2 vehicles, and 18.8% with 3 or more), there is likely to be steady demand for automotive services. The average vehicles per household stands at 1.7, which indicates a car culture with potential needs for maintenance, repairs, and services that an automotive franchise could fulfill.
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Real estate services also appear to be a solid choice for franchising in Hialeah. With a projected annual growth of households at 1.0% and a projected increase in average household income, the housing market might experience growth, leading to opportunities for real estate franchises specializing in sales, rentals, or property management. This is supported by the owner-occupied median home value of $329,716 and a median rent of $1,270, suggesting an enticing housing market.
Lastly, the food industry should be considered. With a total annual expenditure on food and beverages at $642.18 million and a significant portion of personal consumption dedicated to this sector (14.9% of monthly household expenditure), there's an evident demand for dining and grocery options. Franchises in fast-casual dining, specialty foods, or grocery could tap into this spending behavior in Hialeah.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Hialeah, Florida Franchise Opportunities (and Businesses for Sale)
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