Raleigh, North Carolina Franchise Market Analysis
To gain comprehensive insights into Raleigh, North Carolina, 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.
Raleigh, North Carolina Demographic Insights | ||
Households (2023) | 203,885 | |
Households (2028) | 216,307 | |
Population (2023) | 473,221 | |
Population (2028) | 496,610 | |
Per capita Income (2023) | $52,901 | |
Total Household Expenditures | $16,505,430,660 | |
Total Retail Expenditures | $7,734,791,362 | |
Average Household Income (2023) | $122,022 | |
Average Household Income (2028) | $124,175 | |
City Data retrieved from https://sitesusa.com/Data |
Local Insights
Raleigh is home to a growing population, currently at 473,221, with a projected increase of approximately 23,389 residents by 2028. The average household income stands at $122,022 and the average net worth is a substantial $643,484, providing a solid economic base for the franchise industry.
Read MoreThe food industry in Raleigh has a discernible opportunity, with a total annual consumer expenditure on food and beverages at $2.39 billion. Additionally, the gap report shows potential sales in grocery stores at $981.26 million, notably higher than actual sales of $683.38 million. This suggests room for new players in the market, particularly for franchises that can offer unique food experiences.
Raleigh's housing market is robust, with 57.9% of homes being owner-occupied and a median home value of $368,531. The home centers segment alone shows potential sales at $199.47 million compared to actual sales of $158.31 million, highlighting a demand for home improvement and maintenance services that franchises could fulfill.
There is a notable healthcare consumer expenditure of $1.34 billion annually in Raleigh, coupled with a reported gap in cosmetics and beauty store sales ($13.54 million potential vs. $6.12 million actual). These figures suggest a market for healthcare franchises, which could be particularly profitable given the city's affluent demographics.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Raleigh, North Carolina Franchise Opportunities (and Businesses for Sale)
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
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
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
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
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As of May 9, 2024: