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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 Phoenix, Arizona | ||
| Data | Phoenix, AZ | Nationwide |
|---|---|---|
| Population | 1.63 million | 333.2 million |
| Proj. 5 Year Population Growth | -5.5102% | 0.5% |
| Median Household Income | $117,356 | $74,580 |
| Median Age | 33.96 | 38.9 |
| Residents per Business | 1 to 22 | 10 to 1 |
| Annual Household Expenditures | $47.34 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Phoenix, AZ hosts a labor force of 293,229 individuals aged 16 years and over, largely leaning towards white-collar professions which account for 55.8% of the working population. This prevalence of white-collar jobs suggests a middle to upper-middle-class consumer base, which can be favorable for various franchise opportunities targeting this demographic. Additionally, the low unemployment rate of 2.2% reflects the economic stability of the area, presenting a promising landscape for potential franchisees looking to establish a foothold in Phoenix.
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Most residents within a 5 mile radius of the city's center have a preference for driving to work alone, accounting for 63.8% of the commuting populace. Notably, a significant portion of the population (20.7%) works from home. This behavioral trend opens a favorable market for automotive industry-related franchises, given the high rate of vehicle usage.
The substantial work-from-home populace suggests a good fit for mobile franchises such as mobile car washes or mobile dog grooming services. These mobile services cater to the convenience of home-based professionals, indicating a receptive, adaptable, and tech-savvy consumer base for modern and flexible franchise models.
Phoenix is home to 24,002 businesses, collectively employing a total of 286,191 individuals. The residential population per business ratio stands nearly at 16 to 1, showcasing a favorable market for new business ventures. This business-friendly environment, paired with the city's demographic profile, lays a solid foundation for various franchising opportunities. Notably, the substantial number of businesses in the area presents a ripe market for business services franchises. Services such as commercial cleaning, business consulting, and office supplies delivery could find a ready clientele, making Phoenix a potentially lucrative locale for aspiring B2B franchisees.
The total annual consumer expenditure in Phoenix amounts to $8.41 billion, with significant spending on shelter ($1.8 B), transportation ($1.52 B), and food and beverages ($1.25 B). The monthly household consumer expenditure averages at $5,236, with retail expenditures making up 47% of the total, showcasing a robust consumer market for prospective franchisees to tap into.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Phoenix, Arizona 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.