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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 Madison, Wisconsin | ||
| Data | Madison, WI | Nationwide |
|---|---|---|
| Population | 267.45 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -3.2816% | 0.5% |
| Median Household Income | $115,014 | $74,580 |
| Median Age | 31.4 | 38.9 |
| Residents per Business | 1 to 26 | 10 to 1 |
| Annual Household Expenditures | $9.4 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The data on Madison, WI presents several promising opportunities for franchising. First, consider the high average household income estimated at $115,014 in 2023 and projected to grow to $119,314 by 2028. With total food and beverage consumer expenditure reaching approximately $1.37 billion in 2023, the demand for dining options is evident. Franchises offering unique dining experiences or high-quality fast-casual concepts could tap into this market, especially considering the 36.4% of 1-person households who may prefer dining out or ordering in over cooking.
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The housing data indicates a strong home ownership rate of 53.4% with a median home value of $342,017 in Madison. This suggests a home services franchise, such as home improvement, landscaping, or cleaning services, could find a robust market. The inclination of households towards maintaining and upgrading their homes, as suggested by the expenditure on furnishings and equipment ($333.79 million), further underscores the potential for home service franchises.
Lastly, the retail sector presents a lucrative opportunity. With a total annual retail expenditure of $4.41 billion, indicating strong consumer spending habits, a retail franchise in sectors such as apparel, which has an expenditure of $336.27 million, could be successful. The presence of over 10,000 businesses and a white-collar workforce of 74.5% implies a market for professional attire and business casual clothing.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Madison, Wisconsin Franchise Opportunities (and Businesses for Sale)
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