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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 Honolulu, Hawaii | ||
| Data | Honolulu, HI | Nationwide |
|---|---|---|
| Population | 357.65 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 2.8546% | 0.5% |
| Median Household Income | $122,599 | $74,580 |
| Median Age | 41.99 | 38.9 |
| Residents per Business | 1 to 20 | 10 to 1 |
| Annual Household Expenditures | $11.54 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The data for Honolulu, HI, suggests a number of promising sectors for new franchisees to consider. With an estimated average household income of $122,599 in 2023 and a median household income of $88,652, there is a significant customer base with disposable income which could support a variety of franchise types. The presence of high-income households is particularly notable, with 16.7% of households earning $200,000 or more. This indicates potential for franchises in industries that offer high-end goods and services. For instance, the automotive industry could thrive here, especially luxury car dealerships or high-end automotive service franchises, as the data shows there are 211,507 total vehicles available in the area and 64.8% of owner-occupied households have vehicles.
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Another area of opportunity is the health and fitness industry. With an estimated per capita income of $49,310 and an average household net worth of $1.18M, residents may have the financial flexibility to invest in personal wellness. Franchises offering innovative and premium fitness experiences, health clubs, or wellness centers could find a receptive market.
The household data points toward a significant portion of the population living in owner-occupied housing units, with 53.9% owner-occupied out of the total housing units occupied. This opens avenues for home services franchises, which could include interior design, landscaping, or home improvement services, taking advantage of the home values which are quite high, with a median home value of $788,814. This suggests that homeowners have equity that could be invested in maintaining and upgrading their properties.
Lastly, considering the high education expenditure at $392.36M, franchises in the education sector, such as tutoring services, educational material suppliers, and private educational institutes, could tap into a market of families investing significantly in education. The demand for quality education-related services is likely to be strong in an area where households are willing to allocate resources towards educational development.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Honolulu, Hawaii Franchise Opportunities (and Businesses for Sale)
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