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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 West Palm Beach, Florida | ||
| Data | West Palm Beach, FL | Nationwide |
|---|---|---|
| Population | 121.04 thousand | 333.2 million |
| Proj. 5 Year Population Growth | -3.516% | 0.5% |
| Median Household Income | $98,434 | $74,580 |
| Median Age | 40.14 | 38.9 |
| Residents per Business | 1 to 9 | 10 to 1 |
| Annual Household Expenditures | $3.59 billion | $23.9 trillion |
| City Data retrieved from https://sitesusa.com/Data | ||
Franchising Landscape
The health and fitness industry stands out as a strong candidate in West Palm Beach, Florida. With an estimated average household income of $98,434 in 2023 and a median home value of $335,363, it suggests that residents have disposable income that could be spent on health and wellness services. Additionally, the annual consumer expenditure on health care is $301.69 million, indicating a market with substantial spending in this sector. Given the warm climate and the city's population density of 2,089 persons per square mile, outdoor and indoor fitness franchises could thrive here, offering services ranging from traditional gyms to niche fitness classes catering to various demographics.
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The food and beverage industry could benefit from the city's growth, with a total annual consumer expenditure of $525.99 million on food and beverages. Franchises offering fresh, healthy dining options might appeal to the health-conscious segment of the population, while those providing unique dining experiences could attract the city's affluent residents and visitors.
Lastly, the home services industry may find a receptive market in West Palm Beach, as indicated by the 62.7% owner-occupied housing units and a significant yearly expenditure on household operations ($142.67 million). Franchises that provide home improvement, maintenance, and cleaning services could capitalize on the needs of homeowners looking to preserve or increase the value of their properties.
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West Palm Beach, Florida Franchise Opportunities (and Businesses for Sale)
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