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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 Jackson, Mississippi | ||
| Data | Jackson, MS | Nationwide |
|---|---|---|
| Population | 149.02 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 12.0073% | 0.5% |
| Median Household Income | $71,511 | $74,580 |
| Median Age | 35.54 | 38.9 |
| Residents per Business | 1 to 18 | 10 to 1 |
| Annual Household Expenditures | $3.38 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Analyzing the demographic data for Jackson, MS reveals several key points that are pertinent when considering franchise opportunities in the city. The estimated average household income for 2023 is $71,511 with a projected growth to $81,154 by 2028. In terms of housing, 56.1% of households are owner-occupied. This points towards potential for home services franchises, especially those providing home repairs, renovations, and security systems, which would benefit from the high rate of homeownership. With an owner-occupied median home value of $111,111 and a median age of homes being 52.6 years, there’s likely a continual need for upkeep and modernization, further supporting the home services industry.
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Considering the health and fitness industry, the data shows a significant total annual consumer expenditure on health care at $289.83 million in Jackson. With an increasing average household income and a significant portion of expenditure dedicated to health care, there's an opportunity for franchises that focus on preventive health and wellness, such as gyms, fitness centers, and nutrition consulting services.
Lastly, the retail expenditure totaling $1.59 billion with a monthly household retail expenditure of $2,162 (47.1% of total monthly household expenditure) suggests that there is a healthy market for retail franchises in Jackson. Given that food and beverages make up $501.89 million of the total annual consumer expenditure, food franchises could thrive in this environment.
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Jackson, Mississippi Franchise Opportunities (and Businesses for Sale)
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