Tempe, Arizona Franchise Market Analysis
To gain comprehensive insights into Tempe, Arizona, 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.
Tempe, Arizona Demographic Insights | ||
Households (2023) | 78,691 | |
Households (2028) | 83,670 | |
Population (2023) | 179,191 | |
Population (2028) | 188,303 | |
Per capita Income (2023) | $47,337 | |
Total Household Expenditures | $5,760,871,320 | |
Total Retail Expenditures | $2,708,164,142 | |
Average Household Income (2023) | $106,941 | |
Average Household Income (2028) | $108,750 | |
City Data retrieved from https://sitesusa.com/Data |
Local Insights
The retail sector in Tempe, with its substantial annual consumer expenditure of $2.71B, presents fertile ground for franchises, especially in niche markets. For instance, jewelry stores in Tempe are a notable opportunity, with potential sales of $10.31M but actual sales reaching only $4.03M, indicating significant room for growth and a market demand that is currently underserved. Alongside the high annual spending in apparel at $204.92M, a retail franchise that offers specialized and high-value products like jewelry could capitalize on the discretionary income of its residents.
Read MoreThe demand for home services in Tempe is underscored by the significant number of owner-occupied homes (44,996) and a median home value of $371,973, which suggests a market for franchises specializing in home renovation and maintenance. This is further supported by a high annual consumer expenditure in household operations at $227.76M.
The business services industry in Tempe is a prime area for growth, bolstered by a robust local economy with over 12,300 businesses and a workforce of approximately 136,570. With the city's businesses aiming to enhance efficiency and productivity, there's a significant market for services such as consulting, marketing, staffing, and IT support. Franchises offering innovative business solutions could tap into the disposable income that comes from an average household income of $106,941. Furthermore, a projected population increase suggests an expanding clientele, positioning the business services sector as a lucrative space for new and scalable franchise ventures in Tempe.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Tempe, Arizona 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
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
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
ATAX Tax Service is your premier destination for comprehensive and reliable tax assistance.
40k 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
Here at The UPS Store franchise, we know first-hand how important a healthy work-life balance is. When you become an owner of a The UPS Store, you are assisted with finding the right balance as you pursue your entrepreneurial…
75k Minimum Cash Required
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As of May 8, 2024: