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 for Raleigh, North Carolina | ||
| Data | Raleigh, NC | Nationwide |
|---|---|---|
| Population | 473.22 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -4.8233% | 0.5% |
| Median Household Income | $122,022 | $74,580 |
| Median Age | 34.3 | 38.9 |
| Residents per Business | 1 to 15 | 10 to 1 |
| Annual Household Expenditures | $16.51 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Within a 5 mile radius of Raleigh, North Carolina, is a median household income of $88,838, presenting a favorable canvas for business opportunities. The city's relatively young median age of 34.7 suggests a dynamic population, which could be a significant draw for franchises operating in the health and wellness, education, and food and beverage sectors. The youthful demographic often resonates with modern, health-conscious, and convenient service offerings that these sectors can provide.
Read More
The economic landscape of Raleigh has seen a remarkable ascent, with the average household income escalating from $54,041 in 2000 to an impressive $113,460 in 2023. This financial upswing is echoed in the estimated average household net worth of $643,883 in 2023, signifying a solid consumer base with disposable income. Such economic buoyancy is favorable for high-end or specialty franchises, as it suggests a market with the financial capability to indulge in premium or niche services and products.
With 38.9% of Raleigh's workforce working from home, the data unveils a promising market for both home-based and home service franchises. The prevalence of home-based work suggests a continuous presence of residents at home, potentially increasing the demand for home service franchises offering conveniences like cleaning, maintenance, or delivery services. This statistic underscores a fertile scenario for franchises tailored to meet the needs of a home-centric workforce.
The occupational layout in Raleigh is skewed towards white-collar professions, with a hefty 72.1% engaged in management, business, financial operations, or professional-related occupations. This professional demographic, when coupled with the city's economic affluence, might translate into a customer base with the financial latitude to invest in quality services, products, or experiences rendered by various franchises. The synergy of a robust professional sector, significant economic growth, and a young, vibrant populace, positions Raleigh as an attractive prospect for potential franchisees exploring business opportunities in North Carolina.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Raleigh, North Carolina 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.