Cleveland, Ohio Franchise Market Analysis
To gain comprehensive insights into Cleveland, Ohio, 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.
Cleveland, Ohio Demographic Insights | ||
Households (2023) | 171,642 | |
Households (2028) | 173,628 | |
Population (2023) | 362,991 | |
Population (2028) | 359,241 | |
Per capita Income (2023) | $29,194 | |
Total Household Expenditures | $8,500,750,274 | |
Total Retail Expenditures | $3,986,898,660 | |
Average Household Income (2023) | $61,026 | |
Average Household Income (2028) | $65,246 | |
City Data retrieved from https://sitesusa.com/Data |
Local Insights
The data indicates there are 225,126 total vehicles available in Cleveland, with an average of 1.3 vehicles per household. Considering that 18.8% of households do not have a vehicle available, there's a clear market for automotive franchises that offer services such as car-sharing, rentals, and sales of economical or electric vehicles. Additionally, the majority of households owning at least one vehicle suggests a steady demand for maintenance and repair services. The gap in potential sales for motor vehicle and parts dealers, which stands at $763.81 million versus actual sales of $443.97 million, further solidifies this industry as a solid choice for franchise opportunities.
Read MoreCleveland's substantial retail consumer expenditure, which amounts to around $3.99 billion annually, presents opportunities for both value-driven and specialty retail franchises. Particularly, the family clothing stores sector, with potential sales at $73.78 million and actual sales at $24.96 million, points to a gap that could be filled by new entrants in the market. Retail franchises that align with Cleveland residents' needs and preferences could find considerable success.
Cleveland presents a fertile ground for the business services industry. With a total of 15,989 businesses and a significant concentration of company headquarters, which employ 43,122 people, the city showcases its robust commercial foundation. This corporate presence creates a demand for a wide array of business services, from professional consulting to IT support and office supply providers. The blend of established companies and a dynamic workforce points to sustainable demand for services that support operational efficiency and corporate expansion.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Cleveland, Ohio Franchise Opportunities (and Businesses for Sale)
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
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
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
Get started for as little as $15,000. Make an investment in your future. No franchise fees, setup fees or training costs. 100% of your investment goes to your business. Do you need work that can fit around your family…
15k 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
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
At Franchise Gator, we prioritize transparency and objectivity to empower your franchise decisions. Unlike brokers or franchisors, our motivations are unclouded by financial incentives tied to your choices. We don't earn based on the franchise you opt for, instead, our mission is to present you with impartial insights. Navigate through a realm of franchising opportunities with information you can trust.
Most Popular Industries & Categories
As of May 4, 2024:
Popular Cities in Ohio
View All Cities in Ohio »