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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 Lawrenceville, Georgia | ||
| Data | Lawrenceville, GA | Nationwide |
|---|---|---|
| Population | 31.88 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -10.413% | 0.5% |
| Median Household Income | $96,871 | $74,580 |
| Median Age | 33.24 | 38.9 |
| Residents per Business | 1 to 9 | 10 to 1 |
| Annual Household Expenditures | $772.4 million | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Analyzing the data for Lawrenceville, GA, a good industry for a new franchise could be the automotive sector. With an estimated average household income of $96,871 in 2023 and a historical annual increase in household income of 2.9% since 2000, consumers may have discretionary income to spend on vehicle maintenance and upgrades. The presence of 20,354 total vehicles available and the fact that the majority of households have 1 or more vehicles (with 38.3% having 2 vehicles and 21.8% having 3 or more) signals a robust market for automotive services. Additionally, the fact that a significant portion of the population drives to work alone (67.2%) indicates a high dependency on personal vehicles, which further supports the potential for automotive franchises offering repair, maintenance, and accessory customization services.
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Home services franchises could see success in Lawrenceville given the housing data. With a total of 11,273 households and a high percentage of owner-occupied housing units (61.5%), there is a considerable market for home improvement and maintenance services. The median home value of owner-occupied units being $293,058 suggests that homeowners have invested significantly in their properties and may be inclined to maintain or increase their home’s value through renovations, landscaping, and other home services. This is bolstered by the fact that many homes were built from 2000 to 2009 (26.5%), indicating that after about two decades, homeowners might be looking to make updates or improvements.
Lastly, the food industry is another sector ripe for franchising. With a significant portion of the monthly household expenditure going towards food and beverages ($844 out of $5,710, which is 14.8%), there is a clear demand for dining options. The diversity in household sizes, from 1-person (27.5%) to 3-person households (16.9%), may mean a variety of food franchises from quick-service restaurants to family-style dining could be successful.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Lawrenceville, Georgia Franchise Opportunities (and Businesses for Sale)
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