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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 Rochester, New York | ||
| Data | Rochester, NY | Nationwide |
|---|---|---|
| Population | 205.77 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 7.5309% | 0.5% |
| Median Household Income | $75,767 | $74,580 |
| Median Age | 32.16 | 38.9 |
| Residents per Business | 1 to 29 | 10 to 1 |
| Annual Household Expenditures | $5.19 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The franchising landscape in Rochester, NY, is ripe for expansion in several key areas. With an estimated average household income of $75,767 in 2023, and a projected increase to $87,848 by 2028, there is a clear indicator of economic growth which can support new businesses. This financial stability is conducive for franchises in the home services industry. Given that Rochester has a significant number of older homes, with 46.3% built before 1939, there's a potential demand for home renovation and repair services. Franchises that offer modernization, energy efficiency upgrades, and general home maintenance could see substantial business.
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Rochester's data shows that 15.9% of the workforce works from home, which indicates a trend towards remote working. This shift can be a boon for the home-based franchise industry. Businesses that support remote work, like virtual office assistance, IT support, and home office supply companies, could find a thriving market.
The entertainment sector, with an annual expenditure of $289.05 million, combined with the substantial household income designated for education ($154.23 million annually), suggests an opportunity for education and entertainment franchises. This could encompass children’s educational programs, family entertainment centers, or edutainment franchises that blend learning with fun, catering to Rochester's family demographic.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Rochester, New York 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.