Please Confirm
Are you sure you wish to REMOVE from your request basket?
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: New York, NY 2024 | ||
| Data | New York, NY | Nationwide |
|---|---|---|
| Population | 8.3 million | 333.2 million |
| Proj. 5 Year Population Growth | 4.0531% | 0.5% |
| Median Household Income | $143,595 | $74,580 |
| Median Age | 37.8 | 38.9 |
| Residents per Business | 1 to 25 | 10 to 1 |
| Annual Household Expenditures | $341.78 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
New York City is the perfect location for entrepreneurs. With annual consumer spending on food in the billions, food franchises will find a ready market in New York. Similarly, retail franchises selling apparel have a sizable customer base in NYC, based on the annual consumer spending of over $4 billion.
Annual Food Consumer Expenditure: $16.93 billion
Annual Apparel Consumer Expenditure: $4.35 billion
Percentage that Rely on Public Transportation: 32.3%
Percentage that Walks to Work: 10.8%
Total Businesses: 170,434
White-Collar Workforce: 83.2%
The gap report in NYC highlights sectors where the actual sales are falling short of their full potential. Home centers show a significant market gap, pointing to opportunities for entrepreneurs in the home services industry. With nearly 200,000 total businesses and a white-collar workforce of 83.2%, a business services franchise could be an ideal investment in New York City. The market gap in the New Car Dealers segment is in the billions, showcasing automotive franchises in New York as a potentially lucrative opportunity.
Home Centers
Potential Sales: $3.32 billion
Actual Sales: $1.76 billion
Office and Stationery Stores
Potential Sales: $267.09 million
Actual Sales: $134.37 million
New Car Dealers
Potential Sales: $19.03 billion
- Actual Sales: $4.4 billion
Explore the franchise listings below and take the first step towards a rewarding business venture.
New York, New York Franchise Opportunities (and Businesses for Sale)
| Order | Franchise Name | Industry Name | Available Capital | ||
|---|---|---|---|---|---|
| 1 |  | Automated Investments | Business Opportunities | $100,000 | |
| 2 |  | Healthy YOU Vending | Vending Franchises | $25,000 | |
| 3 |  | American Business Systems, LLC | Financial Franchises | $30,000 | |
| 4 |  | SiteSwan Website Builder | Business Opportunities | $199 | |
| 5 |  | Health Atlast | Health & Fitness Franchises | $300,000 | |
| 6 |  | GarageExperts | Home Services & Repair Franchises | $60,000 | |
| 7 |  | Batteries Plus | Retail Franchises | $100,000 | |
| 8 |  | Zoomin Groomin | Pet Franchises | $90,000 | |
| 9 |  | Zoom Room | Pet Franchises | $200,000 | |
| 10 |  | Sure Step | Home Services & Repair Franchises | $20,000 |
Is New York Be the Right Place to Launch Your Franchise?
- What's the business landscape like in New York?
- Is there a reliable workforce for my franchise?
- Are operational costs affordable in New York?
- How financially stable is the community?
- What makes New York a great fit for franchise owners?
Question:What's the business landscape like in New York?
Answer:New York is home to 3,307,108 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 3,453,678 employed individuals, providing a steady and loyal workforce for franchise owners.
Question:Are operational costs affordable in New York?
Answer:Absolutely. With a median rent of $1,582, franchise owners in New York 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 New York is $143,595, supporting a stable and engaged customer base.
Question:What makes New York a great fit for franchise owners?
Answer:With 3,618,635 housing units and a strong sense of community, New York 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.