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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 Overland Park, Kansas | ||
| Data | Overland Park, KS | Nationwide |
|---|---|---|
| Population | 200.19 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -2.2674% | 0.5% |
| Median Household Income | $149,671 | $74,580 |
| Median Age | 39.46 | 38.9 |
| Residents per Business | 1 to 22 | 10 to 1 |
| Annual Household Expenditures | $8.02 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Given the economic and demographic data for Overland Park, KS, we can identify several promising industries for new franchisees.
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The home services industry presents a robust opportunity. Overland Park has a high percentage of owner-occupied housing units (66.5%), and the median home value for owner-occupied units is $354,979, which is above the national average. This suggests that homeowners are likely to invest in maintaining and improving their properties. Franchises offering renovation, landscaping, cleaning, and maintenance services could tap into the annual household operations expenditure of $324.28 million.
Real estate franchises could benefit from the city's growth and affluence. The projected population growth of 0.5% annually through 2028, along with an average household net worth estimated at $775,826 in 2023, shows potential for real estate services. The data shows that the median age of homes is 38.5 years, indicating a market for home sales and possibly for renovation services to update older homes. Moreover, with a total annual consumer expenditure of $8.02 billion and a substantial portion dedicated to shelter ($1.68 billion), real estate services have a significant market to serve.
The food industry, particularly fast-casual and upscale dining franchises, could capitalize on Overland Park's affluence and spending habits. With food and beverage expenditures reaching $1.15 billion, there is a clear demand for dining options. The high percentage of working professionals (79.9% white-collar workers) might look for convenience and quality, suggesting a market for franchises that offer quick service without compromising on the dining experience.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Overland Park, Kansas Franchise Opportunities (and Businesses for Sale)
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