Charlotte, North Carolina Franchise Market Analysis
To gain comprehensive insights into Charlotte, 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.
Charlotte, North Carolina Demographic Insights | ||
Households (2023) | 371,338 | |
Households (2028) | 406,715 | |
Population (2023) | 896,209 | |
Population (2028) | 981,436 | |
Per capita Income (2023) | $52,329 | |
Total Household Expenditures | $30,895,830,333 | |
Total Retail Expenditures | $14,468,962,367 | |
Average Household Income (2023) | $125,984 | |
Average Household Income (2028) | $123,977 | |
City Data retrieved from https://sitesusa.com/Data |
Local Insights
Healthcare and senior care are standout choices for franchise opportunities in Charlotte. The estimated average household income in 2023 stands at $125,984, and the average household net worth is a robust $606,656, indicating a population with significant spending power which could support higher-end healthcare options. Additionally, the gap report shows potential in the health and personal care sector, with a potential of $513.5 million against actual sales of $394.95 million. The existing gap, particularly in pharmacies and drug stores which have a potential of $429.99 million versus sales of $352.66 million, indicates a substantial opportunity for healthcare franchises to meet this unmet demand.
Read MoreThe home services industry is another strong contender for franchising in Charlotte. With a median home value of $334,080, coupled with 54.8% of housing units being detached, there is a clear opening for franchises specializing in home improvements and maintenance services. The building materials and garden equipment sector, with a potential of $786.79 million compared to actual sales of $774.99 million, further supports the need for such services.
Food franchises would likely find fertile ground in Charlotte, with the city’s sizable annual expenditure on food and beverages of $4.49 billion. This spending is supported by a gap report indicating a $2.07 billion potential in the food and beverage stores sector against $1.31 billion in sales. Such data reflects the city's willingness to spend on dining experiences, signaling a promising market for new and innovative food franchise concepts.
Education-related franchises should also not be overlooked. With an annual expenditure of $1.04 billion on education, Charlotte residents clearly value learning and self-improvement. This is an industry ripe for development, with tutoring and educational services poised to capitalize on the diverse needs of the city’s student population.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Charlotte, North Carolina Franchise Opportunities (and Businesses for Sale)
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
Today's busy lifestyles demand the services PostalAnnex+ offers. Capitalize on this demand and open your own business!! After retiring from the printing business PostalAnnex+ founder Jack Lentz began working out of his…
70k 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
My Business Venture gives you the ability to start an online business from your home. We provide you access up to 1 million products & you chose up to 2,000 you want to feature on your website! MBV’s 10% Price Guarantee on…
3,995 Minimum Cash Required
ATAX Tax Service is your premier destination for comprehensive and reliable tax assistance.
40k Minimum Cash Required
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As of May 17, 2024: