Colorado Springs, Colorado Franchise Market Analysis
To gain comprehensive insights into Colorado Springs, Colorado, consider these figures in the table below, which include demographic segments, household dynamics, and financial averages, all pivotal in assessing the viability and promise of your franchise endeavor.
Colorado Springs, Colorado Demographic Insights | ||
Households (2023) | 195,897 | |
Households (2028) | 198,677 | |
Population (2023) | 485,566 | |
Population (2028) | 494,264 | |
Per capita Income (2023) | $47,987 | |
Total Household Expenditures | $15,529,997,177 | |
Total Retail Expenditures | $7,306,905,208 | |
Average Household Income (2023) | $118,410 | |
Average Household Income (2028) | $126,649 | |
City Data retrieved from https://sitesusa.com/Data |
Local Insights
The automotive sector in Colorado Springs, with an estimated population of 485,566, has promising opportunities, especially in the used car dealers subsector where potential sales ($114.53 million) surpass actual sales ($106.22 million). With a high rate of vehicle ownership at 1.9 vehicles per household, the market for automotive franchises, particularly those dealing with used cars, is ripe for expansion. This need is amplified by the fact that a substantial portion of the workforce, 68.7%, relies on personal vehicles for their daily commute.
Read MoreThe home services industry in Colorado Springs exhibits a promising market landscape. With the region experiencing an annual household growth rate of 1.2%, and 64.3% of homes being owner-occupied, the demand for home improvement, maintenance, and landscaping services is substantial. The solid median home value of $405,003 signals homeowner investment in property enhancement, suggesting a receptive environment for franchises offering comprehensive home services—from repairs to smart home installations—in this community of nearly half a million people.
In Colorado Springs, the business services sector presents a unique opportunity. The area's economic indicators, such as an average household income of $118,410 and a median household income of $83,329, suggest that local businesses have resources to invest in services that could improve efficiency and growth. The presence of over 25,150 businesses in the city highlights a considerable market for business services. Additionally, the significant portion of the workforce operating from home (18.9%) may generate demand for business support services that cater to remote work environments. Franchises that offer marketing, consulting, accounting, IT support, or other B2B services could find a receptive audience in this community that is actively embracing an entrepreneurial spirit and supporting infrastructure for business growth.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Colorado Springs, Colorado Franchise Opportunities (and Businesses for Sale)
At Angora, we have developed the #1 system for building, launching & scaling ecommerce stores. We know success lies in creating a simple, replicable process, and as such have built our process around it. Because of this, no…
30k Minimum Cash Required
Aire Serv is an award-winning HVAC franchise, but you don't need technician experience to be an owner. Operating within a growing and recession-resilient industry that provides in-demand services, franchise owners enjoy…
50k Minimum Cash Required
In a saturated market where options for haircuts abound, Bazooka Charlie's Barber Co. understands the need to stand out. Bazooka Charlie's barbershops are designed to exude a unique atmosphere where clients are not…
150k Minimum Cash Required
My Business Venture gives you the ability to start an online business from your home. We provide you access up to 1 million products & you chose up to 2,000 you want to feature on your website! MBV’s 10% Price Guarantee on…
3,995 Minimum Cash Required
Did you know you could partner with a company to build out your entire e-commerce store, from product research to inventory acquisition to marketing? Yep! You can easily make 6-7 figures in passive income when we build your…
30k Minimum Cash Required
Mr. Electric is an award-winning electric installation and repair franchise, but you don't need experience as an electrician to be an owner. Operating within a growing and recession-resilient industry that provides…
65k Minimum Cash Required
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As of April 27, 2024: