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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: Lubbock, TX 2024 | ||
| Data | Lubbock, TX | Nationwide |
|---|---|---|
| Population | 266.85 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -2.4529% | 0.5% |
| Median Household Income | $91,476 | $74,580 |
| Median Age | 29.95 | 38.9 |
| Residents per Business | 1 to 21 | 10 to 1 |
| Annual Household Expenditures | $9.43 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The automotive industry shows potential in Lubbock, Texas, as there are 178,790 total vehicles among households, and an average of 1.7 vehicles per household. This suggests a strong car culture, with 39.6% of households having 2 vehicles available, and 17.6% having 3 or more. This indicates a solid market for automotive services such as maintenance, repair, and car washes, which are essential to vehicle owners.
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Another promising sector in Lubbock is food, bolstered by the annual food and beverage expenditure of $1.02 billion. Given the projected population growth of 1.2% annually from 2023 to 2028, there is an increasing number of consumers for food franchises to cater to.
Lastly, the real estate industry should be considered for franchising opportunities. The owner-occupied median home value stands at $177,029, and 15.2% of homes were built from 2010 to 2013, indicating a relatively recent growth in the housing market. With a population growth rate of 1.2% and a projected increase in households by 1.4% from 2023 to 2028, there is an expanding market for real estate services. Franchises that offer real estate brokerage, property management, or home inspection services could tap into this growing housing market.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Lubbock, Texas Franchise Opportunities (and Businesses for Sale)
| Order | Franchise Name | Industry Name | Available Capital | ||
|---|---|---|---|---|---|
| 1 |  | GarageExperts | Home Services & Repair Franchises | $60,000 | |
| 2 |  | Healthy YOU Vending | Vending Franchises | $25,000 | |
| 3 |  | Zoomin Groomin | Pet Franchises | $90,000 | |
| 4 |  | Automated Investments | Business Opportunities | $100,000 | |
| 5 |  | American Business Systems, LLC | Financial Franchises | $30,000 | |
| 6 |  | Batteries Plus | Retail Franchises | $100,000 | |
| 7 |  | BrightStar Care | Senior Care Franchises | $100,000 | |
| 8 |  | Village Idiot Pizza | Food Franchises | $250,000 | |
| 9 |  | Jeff's Bagel Run | Food | $500,000 | |
| 10 |  | Fleet Services International | Auto Franchises | $100,000 |
Is Lubbock Be the Right Place to Launch Your Franchise?
- What's the business landscape like in Lubbock?
- Is there a reliable workforce for my franchise?
- Are operational costs affordable in Lubbock?
- How financially stable is the community?
- What makes Lubbock a great fit for franchise owners?
Question:What's the business landscape like in Lubbock?
Answer:Lubbock is home to 104,417 businesses, meaning franchise owners can enter a market with less direct competition and a more localized customer base.
Question:Is there a reliable workforce for my franchise?
Answer:Yes! The city has 106,783 employed individuals, providing a steady and loyal workforce for franchise owners.
Question:Are operational costs affordable in Lubbock?
Answer:Absolutely. With a median rent of $884, franchise owners in Lubbock can benefit from lower real estate costs, making it easier to secure commercial space.
Question:How financially stable is the community?
Answer:The average household income in Lubbock is $91,476, supporting a stable and engaged customer base.
Question:What makes Lubbock a great fit for franchise owners?
Answer:With 111,918 housing units and a strong sense of community, Lubbock provides a stable market where franchises can establish long-term success.
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.