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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 Mobile, Alabama | ||
| Data | Mobile, AL | Nationwide |
|---|---|---|
| Population | 186.96 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 3.2869% | 0.5% |
| Median Household Income | $82,924 | $74,580 |
| Median Age | 36.91 | 38.9 |
| Residents per Business | 1 to 18 | 10 to 1 |
| Annual Household Expenditures | $4.78 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The average household income in Mobile, Alabama is projected to grow from $82,924 in 2023 to $92,513 in 2028, suggesting increasing consumer purchasing power. The automotive industry presents a promising opportunity for franchising in Mobile. The data indicates a strong vehicle presence, with 61.2% of households owning their homes also having access to two vehicles on average, and an overall total of 135,280 vehicles available in the city. With the city's total expenditure on transportation at $863.29M in 2023, an automotive franchise specializing in vehicle maintenance and repair could be sustainable, tapping into the consistent demand for automotive services.
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The household demographics indicate a significant portion of 1 and 2 person households (36.2% and 32.3% respectively), which may be indicative of working singles or couples who may prioritize convenience and time-saving services. This demographic might be well-served by cleaning and home services franchises. The convenience of these services, coupled with a projected increase in average household income, implies that consumers might be willing to pay for outsourcing household tasks. Additionally, given the high percentage of occupied housing units (87.3%), consistent demand for these services is expected.
Lastly, the education sector should be considered in Mobile. With a total expenditure on education amounting to $141.46M in 2023, this suggests a community that values learning and development. An educational franchise that offers tutoring or enrichment programs could tap into this market.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Mobile, Alabama Franchise Opportunities (and Businesses for Sale)
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