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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 Lexington, Kentucky | ||
| Data | Lexington, KY | Nationwide |
|---|---|---|
| Population | 322.04 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -1.7801% | 0.5% |
| Median Household Income | $108,690 | $74,580 |
| Median Age | 34.98 | 38.9 |
| Residents per Business | 1 to 21 | 10 to 1 |
| Annual Household Expenditures | $10.17 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The data for Lexington, KY, suggests several promising areas for franchising opportunities. Let's start with the healthcare industry. The annual consumer expenditure on health care in Lexington is approximately $839.07 million. The estimated average household income for 2023 is $108,690 and the average household net worth is $511,787. Franchises that offer medical services, home care for seniors, or wellness programs would meet a growing demand.
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The food and beverage sector also presents a lucrative opportunity. Lexington residents spend around $1.49 billion annually on food and beverages. Given the high average household income, a food franchise that offers unique dining experiences, healthy options, or quick-service could capitalize on this market.
Home services franchises should also consider the Lexington market. The data shows a strong housing market with a high percentage of owner-occupied homes (52.6%) and an owner-occupied median home value of $250,139. The average household expenditure on furnishings and equipment stands at $359.17 million. This indicates that there is a market for franchises offering home improvement, landscaping, or home decor services.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Lexington, Kentucky Franchise Opportunities (and Businesses for Sale)
At Franchise Ventures, we prioritize transparency and objectivity to empower your franchise decisions. Unlike brokers or franchisors, our motivations are unclouded by financial incentives tied to your choices. We don't earn based on the franchise you opt for, instead, our mission is to present you with impartial insights. Navigate through a realm of franchising opportunities with information you can trust.