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: Roanoke, VA 2024 | ||
| Data | Roanoke, VA | Nationwide |
|---|---|---|
| Population | 97.68 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 2.4927% | 0.5% |
| Median Household Income | $82,258 | $74,580 |
| Median Age | 37.68 | 38.9 |
| Residents per Business | 1 to 18 | 10 to 1 |
| Annual Household Expenditures | $3.54 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Analyzing the data for Roanoke, VA, the estimated average household income in 2023 is $85,144 with a projected increase to $93,233 by 2028. This financial backdrop is conducive for the food franchise industry. With a total annual food and beverage consumer expenditure at $401.12 million and a notable portion of the population being single-person households (38.7%), there is a clear opportunity for fast-casual dining franchises that cater to individuals looking for convenience without sacrificing quality.
Read More
The data shows that 87.5% of housing units are occupied, with a roughly equal split between owner-occupied and renter-occupied properties. Franchises offering cleaning, maintenance, and renovation services could meet the needs of busy professionals and families seeking to maintain and improve their homes without the time or inclination for DIY.
With a substantial median home value of $168,346 and 59.2% of housing units being detached, there's room for growth in the real estate franchise sector. Real estate franchises that provide property management services or brokerage services could capitalize on the steady growth in household numbers and the overall health of the housing market. Notably, a significant portion of homes were built before 1939 (20.7%), which may require specialized real estate services for maintenance, upgrades, or sales.
Lastly, Roanoke's annual healthcare expenditure is considerable at $230.3 million, suggesting a demand for health and fitness franchises. Franchises that offer fitness centers, wellness programs, or home health care services could find a receptive market.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Roanoke, Virginia Franchise Opportunities (and Businesses for Sale)
| Order | Franchise Name | Industry Name | Available Capital | ||
|---|---|---|---|---|---|
| 1 |  | Automated Investments | Business Opportunities | $100,000 | |
| 2 |  | GarageExperts | Home Services & Repair Franchises | $60,000 | |
| 3 |  | Zoomin Groomin | Pet Franchises | $90,000 | |
| 4 |  | Healthy YOU Vending | Vending Franchises | $25,000 | |
| 5 |  | American Business Systems, LLC | Financial Franchises | $30,000 | |
| 6 |  | Batteries Plus | Retail Franchises | $100,000 | |
| 7 |  | SiteSwan Website Builder | Business Opportunities | $199 | |
| 8 |  | Fleet Services International | Auto Franchises | $100,000 | |
| 9 |  | Zoom Room | Pet Franchises | $200,000 | |
| 10 |  | Jeff's Bagel Run | Food | $500,000 |
Is Roanoke Be the Right Place to Launch Your Franchise?
- What's the business landscape like in Roanoke?
- Is there a reliable workforce for my franchise?
- Are operational costs affordable in Roanoke?
- How financially stable is the community?
- What makes Roanoke a great fit for franchise owners?
Question:What's the business landscape like in Roanoke?
Answer:Roanoke is home to 43,282 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 52,518 employed individuals, providing a steady and loyal workforce for franchise owners.
Question:Are operational costs affordable in Roanoke?
Answer:Absolutely. With a median rent of $781, franchise owners in Roanoke 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 Roanoke is $82,258, supporting a stable and engaged customer base.
Question:What makes Roanoke a great fit for franchise owners?
Answer:With 48,726 housing units and a strong sense of community, Roanoke 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.