Minneapolis, Minnesota Franchise Market Analysis
To gain comprehensive insights into Minneapolis, Minnesota, 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.
Minneapolis, Minnesota Demographic Insights | ||
Households (2023) | 189,203 | |
Households (2028) | 187,670 | |
Population (2023) | 421,554 | |
Population (2028) | 412,542 | |
Per capita Income (2023) | $55,207 | |
Total Household Expenditures | $15,279,281,252 | |
Total Retail Expenditures | $7,142,384,870 | |
Average Household Income (2023) | $121,886 | |
Average Household Income (2028) | $134,635 | |
City Data retrieved from https://sitesusa.com/Data |
Local Insights
In Minneapolis, the automotive industry presents a prime opportunity for franchises, bolstered by the fact that 78,163 households have one vehicle and 62,890 have two, indicating a solid base for automotive services. This is further supported by the potential for growth in the Motor Vehicle and Parts Dealer sectors, which shows an impressive gap with potential sales of $1.41 billion against actual sales of $143.02 million. Franchises in repair, parts supply, and maintenance services are particularly well-positioned to leverage this market potential, tapping into the discretionary spending of households on vehicle care.
Read MoreThe home services industry in Minneapolis is another sector ripe for expansion, with 109,410 owner-occupied housing units providing a substantial customer base for franchises offering renovations, landscaping, and general contractor services. The significant gap in potential versus actual sales in Furniture Stores ($102.85 million vs. $45.59 million) suggests that there's also a demand for home furnishing businesses, likely driven by homeowners investing in property improvements.
Healthcare and Senior Care services stand to benefit from Minneapolis' considerable health care consumer expenditure of $1.24 billion annually. With Health and Personal Care Stores showing potential sales of $254.64 million compared to actual sales of $129.52 million, franchises offering in-home care, assisted living support, and health services can capitalize on this under-served market, especially considering Minneapolis's median household income of $83,344, which indicates a capacity for health-related consumer spending.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Minneapolis, Minnesota Franchise Opportunities (and Businesses for Sale)
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
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
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
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
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
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
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As of May 7, 2024: