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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 Tallahassee, Florida | ||
| Data | Tallahassee, FL | Nationwide |
|---|---|---|
| Population | 195.54 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -3.2327% | 0.5% |
| Median Household Income | $92,823 | $74,580 |
| Median Age | 27.28 | 38.9 |
| Residents per Business | 1 to 15 | 10 to 1 |
| Annual Household Expenditures | $5.57 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Analyzing the data for Tallahassee, FL, a promising franchise industry to consider is the health and fitness sector. With an average household net worth of $417,474 and an estimated average household income of $92,823 in 2023, which is projected to grow to $95,011 by 2028, there is likely discretionary income available for health and wellness activities in Tallahassee. Furthermore, the annual expenditure on health care is significant at $462.85 million, underscoring the community's investment in health-related products and services.
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The food and beverage industry is another sector to consider. With an annual expenditure of $819.18 million in this category, there's evidence of significant spending in Tallahassee that could support a food franchise. The expenditure data shows a strong market for restaurants, cafes, or specialty food shops.
Home services franchises could also find a fertile ground in Tallahassee. The median home value stands at $243,025, and with 47.5% of housing units being owner-occupied, there's a considerable market for home improvement and maintenance services. The diversity in the age of homes, with a substantial number built from 2000 to 2009 (17.9%), suggests ongoing needs for upgrades and modernizations, which could be served by franchises specializing in home renovations, landscaping, or other related services.
Lastly, the educational sector appears to be another viable option for franchising. With an annual expenditure of $176.75 million on education, there's a clear investment in learning and development in Tallahassee. This could open opportunities for educational service franchises that offer tutoring, test preparation, or continuing education services.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Tallahassee, Florida Franchise Opportunities (and Businesses for Sale)
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