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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 Toledo, Ohio | ||
| Data | Toledo, OH | Nationwide |
|---|---|---|
| Population | 268.57 thousand | 333.2 million |
| Proj. 5 Year Population Growth | 3.6929% | 0.5% |
| Median Household Income | $68,416 | $74,580 |
| Median Age | 34.9 | 38.9 |
| Residents per Business | 1 to 30 | 10 to 1 |
| Annual Household Expenditures | $6.23 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
Based on the demographic and economic data provided for Toledo, OH, several franchise opportunities appear to be well-suited for the city's current landscape.
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The automotive industry shows potential, given the data on household vehicles in Toledo. There are 116,374 households, and a significant percentage of these (42.1%) have one vehicle available, while 32.7% have two vehicles. This indicates a high level of car ownership and possibly the need for automotive services. With an average of 1.5 vehicles per household and an estimated 179,704 total vehicles available, services such as maintenance, repairs, and car washes could be in demand, making automotive franchises a viable option.
The food industry, particularly fast-casual dining or specialty food services, could also be successful in Toledo. With a total annual consumer expenditure on food and beverages of $928 million, it's clear that Toledo residents allocate a significant portion of their budget to eating out. A franchise that offers quality, convenience, and value could tap into this market.
Lastly, considering the housing data, home services franchises can also be a good fit in Toledo. A majority of housing units are single-detached homes (68.9%), and with the median age of homes being 64.8 years, there's likely a continuous need for home improvement and maintenance services.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Toledo, Ohio Franchise Opportunities (and Businesses for Sale)
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