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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 Milwaukee, Wisconsin | ||
| Data | Milwaukee, WI | Nationwide |
|---|---|---|
| Population | 567.94 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 1.1153% | 0.5% |
| Median Household Income | $76,070 | $74,580 |
| Median Age | 32.09 | 38.9 |
| Residents per Business | 1 to 33 | 10 to 1 |
| Annual Household Expenditures | $13.47 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Milwaukee's economic forecast shines brightly with household incomes, within a 5 mile radius of the city, projecting to ascend to an average of $89,000 by 2028. This escalation in financial well-being signals an abundance of business opportunities for franchises geared towards an increasingly affluent clientele. The city's residents are already committing substantial funds across various sectors, with $1.49 billion spent on food and beverages and $4.74 billion on retail, marking Milwaukee as fertile ground for new food service and retail franchises.
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The landscape of Milwaukee's workforce is as diverse as its spending habits, with a labor force participation that heralds a range of business opportunities for franchises to fill essential niches. The existence of 13,363 businesses reflects a robust commercial ecosystem, presenting a myriad of businesses for sale and a receptive market for franchises specializing in business services, luxury goods, and personal services. These factors, coupled with an impressive average household net worth of $330,654, underscore the city's potential for economic engagement with new franchise ventures.
A closer examination of Milwaukee's retail sector uncovers significant market gaps. For example, children's and infants' clothing stores see a potential market of $14.3 million against actual sales of $1.88 million, and family clothing stores present a potential of $88.56 million over current sales of $40.92 million. These discrepancies highlight lucrative business opportunities for franchises in these and other retail domains where demand outpaces supply.
Moreover, health and personal care franchises will find a welcoming environment, with the sector showing a potential of $171.56 million versus actual sales of $117.71 million. Notably, cosmetic and beauty stores hold an untapped potential of $8.41 million, far surpassing current sales. The home and garden segment also offers promising prospects, with opportunities for franchises to thrive in a city passionate about home improvement. The general merchandise sector, with a potential of $684.77 million against sales of $207.31 million, indicates a versatile market eager for a broad array of new retail franchises, making Milwaukee a prime location for business growth and investment.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Milwaukee, Wisconsin 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.