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: Palm Bay, FL 2024 | ||
| Data | Palm Bay, FL | Nationwide |
|---|---|---|
| Population | 137.06 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -17.8393% | 0.5% |
| Median Household Income | $96,336 | $74,580 |
| Median Age | 39.95 | 38.9 |
| Residents per Business | 1 to 32 | 10 to 1 |
| Annual Household Expenditures | $4.94 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
With an estimated population of 130,154 in 2023, projected to grow to 154,262 by 2028, Palm Bay, FL, exhibits a steady population growth rate of 3.7% annually. This growing population creates a solid customer base, particularly for franchises that cater to daily needs. The food and beverage industry stands out, with an annual consumer expenditure of $446.03 million. Given the substantial spending in this sector, opening a franchise in fast-casual dining, specialty food stores, or a grocery chain could capitalize on this existing market demand.
Read More
The average vehicles per household in Palm Bay is 1.7, and the majority of the workforce driving alone to work (76.6%) underscores the opportunity for automotive service franchises, such as auto repair shops, car washes, and quick-lube oil change services.
The median age of homes at 33.7 years suggests a mature housing market in Palm Bay. This could indicate a demand for home renovation and repair services. Home service franchises that specialize in renovations, HVAC services, or home and garden supplies could tap into the homeowners' need to maintain and update their properties. With 92.1% of housing units occupied, there is a clear opportunity for home-related service franchises to thrive in Palm Bay.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Palm Bay, Florida Franchise Opportunities (and Businesses for Sale)
| Order | Franchise Name | Industry Name | Available Capital | ||
|---|---|---|---|---|---|
| 1 |  | Healthy YOU Vending | Vending Franchises | $25,000 | |
| 2 |  | Zoomin Groomin | Pet Franchises | $90,000 | |
| 3 |  | Automated Investments | Business Opportunities | $100,000 | |
| 4 |  | American Business Systems, LLC | Financial Franchises | $30,000 | |
| 5 |  | Health Atlast | Health & Fitness Franchises | $300,000 | |
| 6 |  | Batteries Plus | Retail Franchises | $100,000 | |
| 7 |  | GarageExperts | Home Services & Repair Franchises | $60,000 | |
| 8 |  | Fleet Services International | Automotive | $100,000 | |
| 9 |  | My Business Venture | Computer & Internet Franchises | $10,000 | |
| 10 |  | Jeff's Bagel Run | Food | $500,000 |
Is Palm Bay Be the Right Place to Launch Your Franchise?
- What's the business landscape like in Palm Bay?
- Is there a reliable workforce for my franchise?
- Are operational costs affordable in Palm Bay?
- How financially stable is the community?
- What makes Palm Bay a great fit for franchise owners?
Question:What's the business landscape like in Palm Bay?
Answer:Palm Bay is home to 52,488 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 23,717 employed individuals, providing a steady and loyal workforce for franchise owners.
Question:Are operational costs affordable in Palm Bay?
Answer:Absolutely. With a median rent of $1,287, franchise owners in Palm Bay 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 Palm Bay is $96,336, supporting a stable and engaged customer base.
Question:What makes Palm Bay a great fit for franchise owners?
Answer:With 49,483 housing units and a strong sense of community, Palm Bay 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.