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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: Springfield, MO 2024 | ||
| Data | Springfield, MO | Nationwide |
|---|---|---|
| Population | 172.11 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 1.0749% | 0.5% |
| Median Household Income | $70,236 | $74,580 |
| Median Age | 33.15 | 38.9 |
| Residents per Business | 1 to 17 | 10 to 1 |
| Annual Household Expenditures | $5.88 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
With an average household income of $75,643 as of 2023 and a projected increase to $81,574 by 2028, Springfield, Missouri exhibits a solid and growing economic foundation. A significant proportion of households, 42.4%, have access to one vehicle, and a substantial 34.2% have access to two vehicles, indicating a reliance on personal transportation which underscores opportunities in the automotive sector. Considering these factors, automotive franchises, particularly those offering maintenance and repair services, would be well-placed to capitalize on the need for vehicle upkeep as the number of vehicles per household suggests steady demand.
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In the realm of housing, Springfield has a high percentage of owner-occupied units at 52.3%. With a median home value of $173,986 and a significant percentage of homes built more than four decades ago, there is a ripe market for home services franchises. Services such as remodeling, repair, landscaping, and HVAC could find a ready market, especially given the 91.6% housing unit occupancy rate and the need for upkeep in older homes.
The city's labor force participation is notable with a low unemployment rate of 2.1%, and 65.1% of workers engaged in white-collar jobs. This demographic could have disposable income for services like cleaning, both residential and commercial. Franchises that offer cleaning services could thrive by catering to busy professionals who value convenience and are willing to pay for it.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Springfield, Missouri Franchise Opportunities (and Businesses for Sale)
| Order | Franchise Name | Industry Name | Available Capital | ||
|---|---|---|---|---|---|
| 1 |  | Batteries Plus | Retail Franchises | $100,000 | |
| 2 |  | Healthy YOU Vending | Vending Franchises | $25,000 | |
| 3 |  | Wealth Automators | Computer & Internet Franchises | $60,000 | |
| 4 |  | Automated Investments | Business Opportunities | $100,000 | |
| 5 |  | PostalAnnex+ | Printing Packing & Shipping | $70,000 | |
| 6 |  | Proper Ecom Academy | Business Opportunities | $50,000 | |
| 7 |  | Wings Etc. | Food | $350,000 | |
| 8 |  | American Business Systems, LLC | Financial Franchises | $30,000 | |
| 9 |  | Fleet Services International | Auto Franchises | $100,000 | |
| 10 |  | Tiger Adjusters | Home Services & Repair Franchises | $50,000 |
Is Springfield the Right Place to Launch Your Franchise?
- What's the business landscape like in Springfield?
- Is there a reliable workforce for my franchise?
- Are operational costs affordable in Springfield?
- How financially stable is the community?
- What makes Springfield a great fit for franchise owners?
Question:What's the business landscape like in Springfield?
Answer:Springfield is home to 77,999 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 117,103 employed individuals, providing a steady and loyal workforce for franchise owners.
Question:Are operational costs affordable in Springfield?
Answer:Absolutely. With a median rent of $738, franchise owners in Springfield 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 Springfield is $70,236, supporting a stable and engaged customer base.
Question:What makes Springfield a great fit for franchise owners?
Answer:With 83,303 housing units and a strong sense of community, Springfield 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.