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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 Riverside, California | ||
| Data | Riverside, CA | Nationwide |
|---|---|---|
| Population | 314.94 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -2.7205% | 0.5% |
| Median Household Income | $117,982 | $74,580 |
| Median Age | 32.61 | 38.9 |
| Residents per Business | 1 to 25 | 10 to 1 |
| Annual Household Expenditures | $7.53 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
With an estimated average household income of $117,982 and significant expenditures on health care ($617.22M), the health and fitness industry appears robust in Riverside, CA. Considering the projected growth in income to $122,599 by 2028 and a strong emphasis on personal care spending ($101.02M), investing in a fitness franchise could cater to the community’s focus on health and wellness. A health and fitness franchise could offer various services such as gyms, specialized fitness classes, or health food options, tapping into the evident consumer focus on health-related expenditures.
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The food industry presents a notable opportunity, with the annual food and beverage expenditures reaching approximately $1.1B in Riverside. The presence of 95,162 households as of 2023, a number that is projected to grow to 98,861 by 2028, illustrates a growing market for food services. A franchise in the fast-casual segment, offering quality, convenient dining options, could leverage this spending pattern.
The data shows a strong automotive presence, with 207,026 total vehicles available and an average of 2.2 vehicles per household. Owner-occupied households account for 70.2% of vehicles, averaging 2.4 vehicles per household. Considering the high rate of drive-alone commutes (73.8%) and the estimated average household net worth of $959,951, there is clear potential for automotive services franchises. Services like maintenance, repairs, and car washes could be in demand, capitalizing on the need for vehicle upkeep in a car-centric community.
Given that 62.5% of housing units are owner-occupied, and with a high median home value of $461,798, there's a substantial market for home services franchises. The spending on household operations ($298.24M) and the existence of older homes (median age of homes is 46.7 years) signal opportunities for renovation, landscaping, and maintenance franchises.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Riverside, California Franchise Opportunities (and Businesses for Sale)
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