Las Vegas, Nevada Franchise Market Analysis
To gain comprehensive insights into Las Vegas, Nevada, 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.
Las Vegas, Nevada Demographic Insights | ||
Households (2023) | 245,476 | |
Households (2028) | 259,064 | |
Population (2023) | 651,986 | |
Population (2028) | 688,894 | |
Per capita Income (2023) | $39,968 | |
Total Household Expenditures | $17,865,630,361 | |
Total Retail Expenditures | $8,396,894,432 | |
Average Household Income (2023) | $105,928 | |
Average Household Income (2028) | $108,145 | |
City Data retrieved from https://sitesusa.com/Data |
Local Insights
With the Las Vegas population set to grow from 651,986 in 2023 to 688,894 by 2028, there is a burgeoning market for healthcare and senior care services. The gap report supports this, revealing promise in health and personal care stores, with potential sales of $300.18 million against actual sales of $287.66 million. This suggests a market opportunity for healthcare franchises, especially in pharmacy and drug store services, which show a sales gap of $251.39 million in potential versus $208.79 million in actual sales.
Read MoreThe city's housing market, with over half the housing units owner-occupied and a median home value of $369,879, creates a prime environment for home service franchises. The gap report amplifies this opportunity, highlighting sales in building materials ($453.06 million potential vs. $249.37 million actual), pointing to a strong consumer need in these areas.
Las Vegas residents’ total annual consumer expenditure on food and beverages, at $2.62 billion, opens up opportunities for food franchises. The gap report reinforces this, with grocery stores showing a gap (potential sales of $1.09 billion compared to actual sales of $845.22 million) and specialty food markets like meat, seafood, and fruit markets collectively exhibiting significant potential sales over actual sales (e.g., meat markets at $12.42 million potential vs. $3.34 million actual).
The automotive sector is another promising industry in Vegas. Motor vehicle and parts dealers, for instance, show a significant sales gap with potential sales of $1.65 billion against actual sales of $1.25 billion. Similarly, the high potential sales in categories like auto parts and accessories ($101.77 million potential vs. $62.41 million actual) and tire dealers ($68.09 million potential vs. $27.37 million actual) indicate a demand for automotive-related retail franchises.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Las Vegas, Nevada Franchise Opportunities (and Businesses for Sale)
VOTED TOP PART TIME - WORK AT HOME BUSINESS! Are You Looking to Make an Additional $100,000 in the Next 12 Months - No Employees to Hire - No Equipment to Rent/Buy - No Office/Warehouse to Rent/Lease - Start Making money in…
30k Minimum Cash Required
Exclusive territory. #1 Industry leader since 2001. 100% financing for U.S. citizens who qualify* plus software package with complete training. $100K 1st year profit potential. National alliances...
80k Minimum Cash Required
American Business Systems has been America's Leader in Medical Billing with Unparalleled Training, and Support for over 25 years. $100k Potential working from anywhere, full-time or part-time. Learn more about this…
30k Minimum Cash Required
Sniffing around for a great new opportunity? Zoomin Groomin is expanding our Mobile Pet Grooming business nationwide. Set your own schedule, be your own boss and work with pets all day. We’ll be right by your side, every…
100k Minimum Cash Required
First on the scene and best in its class, Sky Zone created the world’s first wall-to-wall trampoline park in 2004, bringing healthy, high-flying fun to people across the globe. Now you can be part of this international…
500k 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
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As of May 4, 2024: