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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 Hollywood, Florida | ||
| Data | Hollywood, FL | Nationwide |
|---|---|---|
| Population | 152.78 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -3.0273% | 0.5% |
| Median Household Income | $98,225 | $74,580 |
| Median Age | 42.18 | 38.9 |
| Residents per Business | 1 to 10 | 10 to 1 |
| Annual Household Expenditures | $4.31 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Hollywood, FL exhibits a considerable investment in health care with a total annual expenditure of $362.09 million, which indicates a community prioritizing health and wellness. With an estimated population of 152,776 and an average household income of $98,225, residents have disposable income that could support additional spending on personal health and fitness. The presence of 62,607 households with a substantial portion being 1-2 person households (32.7% and 32.3% respectively) suggests that smaller, personalized fitness options like boutique gyms or specialty fitness centers could meet the community's needs.
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The data shows a significant percentage of households (44.9% with detached units and a median home value of $331,541) which could provide a strong customer base for home services franchises, such as home improvement, cleaning, and landscaping. Given the median age of homes is 50.3 years, there's likely a continuous need for upkeep and modernization, supporting the potential for franchises specializing in home renovation and repair services.
A look at the vehicle data reveals there are 100,340 total vehicles available in Hollywood with an average of 1.6 vehicles per household. With 43.3% of households having 1 vehicle and 35.7% with 2 vehicles available, there is a clear demand for automotive services. Franchises offering vehicle maintenance, repair services, or car washes could find a robust market, especially considering the significant work commute times (25.9 average minutes) which can lead to greater wear and tear on vehicles.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Hollywood, Florida Franchise Opportunities (and Businesses for Sale)
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