Salt Lake City, Utah Franchise Market Analysis
To gain comprehensive insights into Salt Lake City, Utah, 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.
| Salt Lake City, Utah Demographic Insights | ||
| Households (2023) | 96,428 | |
| Households (2028) | 109,485 | |
| Population (2023) | 200,696 | |
| Population (2028) | 220,488 | |
| Per capita Income (2023) | $55,183 | |
| Total Household Expenditures | $7,360,500,632 | |
| Total Retail Expenditures | $3,450,356,803 | |
| Average Household Income (2023) | $113,847 | |
| Average Household Income (2028) | $108,374 | |
| City Data retrieved from https://sitesusa.com/Data | ||
Local Insights
The demographic data of Salt Lake City highlights an affluent population with a median household income of $77,324 and an average household income of $113,847. This financial capability, combined with a reported gap in health and personal care stores ($122.83 million potential vs. $66.76 million actual sales), suggests a strong market for franchises specializing in healthcare, wellness, and senior care services.
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With the growth in households (a projected annual growth of 2.7% from 2023-2028) and a considerable gap in the building material and garden equipment sector ($188.62 million potential vs. $138.85 million actual sales), there is a substantial opportunity in Salt Lake for franchises offering home improvement, gardening, and landscaping services.
With pet and pet supply stores showing a sales gap ($27.37 million potential vs. $12.46 million actual sales), and given the presence of high-income households that likely include pet owners, franchises in pet care, grooming, and supplies could also find a receptive market in Salt Lake City.
Salt Lake City's thriving corporate ecosystem, comprising 11,419 total businesses, presents a ripe market for business services franchises. With a substantial portion of the city's workforce engaged in white-collar jobs (67.7%) and a notable number of residents working from home (24.6%), there is a clear demand for services that improve operational efficiencies. Business service franchises that specialize in consulting, marketing, staffing, and customer service could find a receptive audience among the local businesses seeking to optimize their operations. Additionally, franchises offering support for remote work infrastructure and virtual business solutions could capitalize on the evolving work habits in the city.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Salt Lake City, Utah Franchise Opportunities (and Businesses for Sale)
Mosquito Joe is an award-winning and environmentally friendly outdoor pest control franchise. Operating within a growing and recession-resilient industry that provides in-demand services, franchise owners enjoy an executive…
50k Minimum Cash Required
Mr. Rooter is an award-winning plumbing franchise, but you don't need experience as a plumber to be an owner. Operating within a growing and recession-resilient industry that provides in-demand services, franchise owners…
50k Minimum Cash Required
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
For decades, we have helped talented individuals turn their passion into a profitable business. Decorating Den Interiors provides its franchise partners with turnkey support systems, camaraderie, incredible support, training,…
50k Minimum Cash Required
Want to own an ecommerce Amazon business without all the hassle of running one yourself? We build, manage and scale Amazon FBA stores for our clients who are looking for a completely automated stream of passive income. Our…
45k 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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