Miami, Florida Franchise Market Analysis
To gain comprehensive insights into Miami, Florida, 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.
Miami, Florida Demographic Insights | ||
Households (2023) | 194,079 | |
Households (2028) | 211,399 | |
Population (2023) | 444,229 | |
Population (2028) | 479,423 | |
Per capita Income (2023) | $41,754 | |
Total Household Expenditures | $12,995,201,846 | |
Total Retail Expenditures | $6,074,408,753 | |
Average Household Income (2023) | $95,193 | |
Average Household Income (2028) | $94,627 | |
City Data retrieved from https://sitesusa.com/Data |
Local Insights
The demographic data for Miami, FL, shows a robust economy that supports a range of franchising opportunities. The housing data indicates a majority of housing units are renter-occupied (54.2%), which points towards opportunities in industries that cater to the needs of renters. For example, cleaning and maintenance franchises could find a receptive market in a city where over half the living spaces turn over more frequently than owned homes.
Read MoreMiami's growing population, with a projected annual growth rate of 1.6% from 2023 to 2028, could also support education franchises. With a diverse population and many households with children — 14.3% are 3-person households, and 9.3% are 4-person households — there is a clear opportunity for educational services, such as tutoring centers, language schools, and early childhood education franchises. The gap report shows unmet potential in the book store sector, with potential sales at $21.54 million against actual sales of $8.77 million, emphasizing the need for educational materials and services.
Lastly, the health and fitness industry should not be overlooked in Miami. The city's per capita income is estimated at $41,754, which could be supportive of discretionary spending on personal well-being. Combined with the high annual health care expenditure of $1.08 billion, this suggests a market that values health and has the resources to spend on it. Therefore, franchises that offer innovative health and fitness solutions, including gyms, wellness centers, or specialized health food stores, could find a receptive customer base in Miami.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Miami, Florida Franchise Opportunities (and Businesses for Sale)
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
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
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
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
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
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As of May 4, 2024: