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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 New York, New York | ||
| Data | New York, NY | Nationwide |
|---|---|---|
| Population | 8.38 million | 333.2 million |
| Proj. 5 Year Population Growth | 5.399% | 0.5% |
| Median Household Income | $131,989 | $74,580 |
| Median Age | 37.51 | 38.9 |
| Residents per Business | 1 to 25 | 10 to 1 |
| Annual Household Expenditures | $282.21 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)
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.