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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: Tempe, AZ 2024 | ||
| Data | Tempe, AZ | Nationwide |
|---|---|---|
| Population | 183.88 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -0.3632% | 0.5% |
| Median Household Income | $108,138 | $74,580 |
| Median Age | 30.11 | 38.9 |
| Residents per Business | 1 to 15 | 10 to 1 |
| Annual Household Expenditures | $7.94 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
With an estimated $1.53 billion spent on food and beverages in 2023 within a 5 mile radius of Tempe, there is evident potential in the food and beverage industry. Fast-casual dining options, coffee shops, or specialized food services that cater to the needs of a younger population (considering the presence of Arizona State University in Tempe) could be successful. The existence of a significant portion of the population with high income ($200,000 or more making up 9% of households) also suggests room for premium dining experiences or specialty food stores.
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The health care expenditure in the area is quite high ($869.17 million in 2023), indicating a community invested in health and well-being. A fitness franchise that offers flexible membership options could tap into the young and working professional demographics. Moreover, franchises that provide wellness services or specialty fitness such as yoga, Pilates, or boutique cycling classes might also find a receptive market here.
The annual allocation of $322.33 million to education suggests a community valuing learning and self-improvement. Educational franchises, such as tutoring centers or those specializing in early childhood education, could capitalize on this trend. The presence of a university town also indicates potential for services catering to college preparation or adult education.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Tempe, Arizona Franchise Opportunities (and Businesses for Sale)
| Order | Franchise Name | Industry Name | Available Capital | ||
|---|---|---|---|---|---|
| 1 |  | American Business Systems, LLC | Financial Franchises | $30,000 | |
| 2 |  | Automated Investments | Business Opportunities | $100,000 | |
| 3 |  | Zoomin Groomin | Pet Franchises | $90,000 | |
| 4 |  | Batteries Plus | Retail Franchises | $100,000 | |
| 5 |  | GarageExperts | Home Services & Repair Franchises | $60,000 | |
| 6 |  | Health Atlast | Health & Fitness Franchises | $300,000 | |
| 7 |  | Healthy YOU Vending | Vending Franchises | $25,000 | |
| 8 |  | Village Idiot Pizza | Food Franchises | $250,000 | |
| 9 |  | SiteSwan Website Builder | Business Opportunities | $199 | |
| 10 |  | Zoom Room | Pet Franchises | $200,000 |
Is Tempe Be the Right Place to Launch Your Franchise?
- What's the business landscape like in Tempe?
- Is there a reliable workforce for my franchise?
- Are operational costs affordable in Tempe?
- How financially stable is the community?
- What makes Tempe a great fit for franchise owners?
Question:What's the business landscape like in Tempe?
Answer:Tempe is home to 79,078 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 132,869 employed individuals, providing a steady and loyal workforce for franchise owners.
Question:Are operational costs affordable in Tempe?
Answer:Absolutely. With a median rent of $1,495, franchise owners in Tempe 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 Tempe is $108,138, supporting a stable and engaged customer base.
Question:What makes Tempe a great fit for franchise owners?
Answer:With 82,398 housing units and a strong sense of community, Tempe 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.