Bloomfield, New Jersey Franchise Market Analysis
To gain comprehensive insights into Bloomfield, New Jersey, 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.
Bloomfield, New Jersey Demographic Insights | ||
Households (2023) | 2,396 | |
Households (2028) | 2,227 | |
Population (2023) | 7,605 | |
Population (2028) | 7,063 | |
Per capita Income (2023) | $127,227 | |
Total Household Expenditures | $542,344,639 | |
Total Retail Expenditures | $248,003,611 | |
Average Household Income (2023) | $403,693 | |
Average Household Income (2028) | $479,652 | |
City Data retrieved from https://sitesusa.com/Data |
Local Insights
The housing data in Bloomfield shows a significant proportion of older homes, with 27.3% built before 1939 and a median age of 63.8 years. This opens a market for home service franchises specializing in renovations, restorations, and modernization. Additionally, with $905.76 million spent annually on household operations, there’s room for growth in services like cleaning, landscaping, and maintenance.
Read MoreFood and beverage consumer expenditures are high in Bloomfield, at $3.27 billion annually. Bloomfield shows a promising market for food franchises, particularly those that offer delivery and takeout services. The rise in work-from-home arrangements, indicated by the 21.5% of workers doing so, could also mean an increased demand for convenience in dining options.
There is also a significant potential for the automotive sector in Bloomfield, especially in the sub-categories of new car dealers ($1.57B potential vs. $961.49M actual sales) and auto parts and accessories ($127.06M potential vs. $78.37M actual sales). This suggests a strong market demand for automotive products and services, which is not fully met by the current supply. Franchises in the automotive repair, service, and parts sectors could capitalize on this gap.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Bloomfield, New Jersey Franchise Opportunities (and Businesses for Sale)
ATAX Tax Service is your premier destination for comprehensive and reliable tax assistance.
40k 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
Crave is searching for franchise partners in the U.S. We are one of the fastest-growing Hot Dog franchises, winner of best southern BBQ, and expanding rapidly. If you want to own your own business and be your own boss, look…
70k 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
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 Angora, we have developed the #1 system for building, launching & scaling ecommerce stores. We know success lies in creating a simple, replicable process, and as such have built our process around it. Because of this, no…
60k 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 16, 2024: