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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 Reston, Virginia | ||
| Data | Reston, VA | Nationwide |
|---|---|---|
| Population | 62.83 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -1.6212% | 0.5% |
| Median Household Income | $187,673 | $74,580 |
| Median Age | 38.55 | 38.9 |
| Residents per Business | 1 to 13 | 10 to 1 |
| Annual Household Expenditures | $3.29 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Given the data for Reston, VA, the restaurant franchise industry presents several promising opportunities. Firstly, the estimated average household income in 2023 in Reston is $187,673, with a projected increase to $203,525 by 2028. This high income bracket suggests a market with significant disposable income, which could support higher-end or specialty restaurant franchises.
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For home-based franchises, the significant portion of Reston’s workforce operating from home (47.4%) is a strong indicator of potential market demand. With an estimated average household net worth of $1.18 million, the economic capacity for investments in home-centric services is evident. Home-based business services such as virtual assistance, online marketing, and consulting are well-positioned to thrive.
In the realm of home services, the data suggests a lucrative opportunity for franchises offering home improvement and maintenance in Reston. A notable 65.1% of housing units are owner-occupied, and with an owner-occupied median home value of $629,671, there is significant potential for businesses that cater to home renovations, landscaping, cleaning, and repair services. Moreover, the high median household income of $152,804 suggests that homeowners have the financial flexibility to invest in maintaining and upgrading their properties, which is favorable for home service franchises.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Reston, Virginia Franchise Opportunities (and Businesses for Sale)
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