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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 Sioux Falls, South Dakota | ||
| Data | Sioux Falls, SD | Nationwide |
|---|---|---|
| Population | 203.9 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -12.7655% | 0.5% |
| Median Household Income | $104,202 | $74,580 |
| Median Age | 35.14 | 38.9 |
| Residents per Business | 1 to 20 | 10 to 1 |
| Annual Household Expenditures | $5.96 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Analyzing the data for Sioux Falls, SD, we can see several promising industries for new franchisees to consider.
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The automotive industry could be a strong candidate for franchise opportunities in Sioux Falls. With a population estimated at 203,897 in 2023 and a projected growth to 231,700 by 2028, and an increase in households from 82,900 in 2023 to a projected 94,032 in 2028, the demand for vehicles and vehicle services is likely to rise. With 93.4% of housing units occupied and an average of 1.9 vehicles per household, there is a clear market for automotive services.
Health and fitness franchises also present a considerable opportunity. The estimated average household income is $104,202, with an average household net worth of $419,137, indicating that the population could have the means to invest in their health and wellness. This financial capability, combined with the demographic data showing a low unemployment rate of 1.1%, suggests a consumer base that has the resources to spend on fitness services and products.
Home services is another promising industry for franchising in Sioux Falls. There's a significant number of owner-occupied homes, 52,625 to be precise, with a median home value of $261,939, which indicates potential for home improvement, maintenance, and repair services. The city's growth in population and households is likely to fuel the demand for these services, and with the historical annual change in average household income rising by 4.2%, homeowners may have more disposable income for home-related expenses.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Sioux Falls, South Dakota Franchise Opportunities (and Businesses for Sale)
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