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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 McKinney, Texas | ||
| Data | McKinney, TX | Nationwide |
|---|---|---|
| Population | 205 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -15.8299% | 0.5% |
| Median Household Income | $149,788 | $74,580 |
| Median Age | 35.34 | 38.9 |
| Residents per Business | 1 to 24 | 10 to 1 |
| Annual Household Expenditures | $7 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The data on McKinney, TX, presents several promising opportunities for new franchises. The estimated population in 2023 stands at 204,996, which is projected to increase to 240,236 by 2028, indicating a growth rate of 3.4%. Additionally, the average household income is substantial at $149,788, with a median household income of $119,071. This suggests that the residents have a comfortable level of disposable income.
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The health and fitness industry appears to be a viable option for franchising in McKinney. With a substantial healthcare expenditure of $556.16 million, there is clear evidence of community investment in health and well-being. A fitness franchise could tap into this expenditure trend, offering gym memberships, wellness programs, and health-related products.
Secondly, the food and beverage industry holds potential due to the significant annual consumer expenditure in this category, which amounts to $1.01 billion. This demonstrates a strong market for eating out and food-related services. A food franchise, especially one that offers unique dining experiences or specializes in healthy eating options, could leverage the community’s propensity to allocate a considerable portion of their budget to food and beverages.
Furthermore, the education sector should be considered for franchising opportunities. With education expenses at $252.86 million, there’s a clear commitment to learning and development in the community. An educational services franchise that focuses on supplementary education, tutoring services, or even vocational training programs could cater to the community's dedication to educational advancement.
Explore the franchise listings below and take the first step towards a rewarding business venture.
McKinney, Texas Franchise Opportunities (and Businesses for Sale)
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