Baltimore, Maryland Franchise Market Analysis
To gain comprehensive insights into Baltimore, Maryland, 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.
Baltimore, Maryland Demographic Insights | ||
Households (2023) | 247,620 | |
Households (2028) | 243,610 | |
Population (2023) | 572,973 | |
Population (2028) | 546,683 | |
Per capita Income (2023) | $42,914 | |
Total Household Expenditures | $17,093,419,077 | |
Total Retail Expenditures | $7,974,782,863 | |
Average Household Income (2023) | $98,730 | |
Average Household Income (2028) | $109,538 | |
City Data retrieved from https://sitesusa.com/Data |
Local Insights
The home services industry in Baltimore appears well-positioned for expansion. With the median home value standing at $194,650, there is a clear opportunity for franchises that specialize in home improvements. The annual consumer expenditure for household operations is substantial at $676.57 million. Additionally, with a notable gap in potential versus actual sales in Home Furnishing Stores ($49.9 million / $1.02 million), franchises that can offer a range of home furnishing and improvement services could tap into a market with significant unmet needs.
Read MoreThe automotive sector in Baltimore shows a marked opportunity for growth, with the Motor Vehicle and Parts Dealers industry exhibiting a potential of $1.54 billion against actual sales of $573.84 million. Considering that 29.2% of households do not have a vehicle and the average vehicles per household stands at 1.1, there is a considerable market for franchises offering automotive sales and services. Moreover, the significant gap highlights an opportunity for new business models such as car-sharing, rental services, and comprehensive automotive care.
In Baltimore’s retail industry, specific sub sectors show substantial gaps between potential and actual sales. For instance, Family Clothing Stores have potential sales of $151.87 million compared to actual sales of $60.81 million. General Merchandise Stores also show a significant opportunity with potential sales of $1.15 billion against actual sales of $162.82 million. These gaps represent fertile ground for franchises that can meet the diverse needs of Baltimore's population, which includes a mix of 65.8% white-collar and 34.2% blue-collar workers. Franchises that strategically position themselves in accessible locations are well-placed to serve the broad spectrum of consumers who either drive or use public transport, with 52.6% of commuters driving alone and 8.2% using public transportation.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Baltimore, Maryland Franchise Opportunities (and Businesses for Sale)
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
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
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
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
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
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
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As of May 7, 2024: