New York, New York Franchise Market Analysis
To gain comprehensive insights into New York, New York, 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.
New York, New York Demographic Insights | ||
Households (2023) | 3,280,037 | |
Households (2028) | 3,298,268 | |
Population (2023) | 8,380,636 | |
Population (2028) | 7,940,060 | |
Per capita Income (2023) | $51,905 | |
Total Household Expenditures | $282,213,760,273 | |
Total Retail Expenditures | $130,634,952,009 | |
Average Household Income (2023) | $131,989 | |
Average Household Income (2028) | $143,716 | |
City Data retrieved from https://sitesusa.com/Data |
Local Insights
The food service industry in New York City exhibits significant opportunity, particularly for limited-service restaurants, which show a potential of $4.68 billion against actual sales of $4.35 billion. This indicates an unmet demand that new franchises could capitalize on. Considering the city's dense population of 8.38 million people and the fact that 25.2% of workers work from home, there is likely to be a high demand for convenience in dining, such as quick service or delivery options. Moreover, with a median household income of $80,260, there's disposable income available for dining out or ordering in.
Read MorePet supply stores show a particularly high potential with sales of $1.03 billion. Given the high density of New York, with 17,750 people per square mile, franchises in this sector could see significant success. Additionally, with 51.6% of households not having a vehicle, retail franchises that are easily accessible by public transport or on foot, or that offer delivery services, could find an edge.
The data in New York City also suggests that cleaning and home maintenance services have a substantial market. With a vast number of renter-occupied units (69.4%) and the presence of over 3.28 million households, there's a continued need for professional home services. Given the average household size—often smaller in cities like New York—franchises that offer tailored services for apartments and condos could find a receptive market.
Explore the franchise listings below and take the first step towards a rewarding business venture.
New York, New York Franchise Opportunities (and Businesses for Sale)
Caring Transitions is a low-cost, home-based franchise that allows you to help older adults and their families with major transitions. Rather than concentrate on one service, we focus on the full needs of our clients in this…
50k 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
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
Lawn Pride is a rapidly growing lawn care franchise, but you don't have to get your hands dirty to be an owner. Operating within a growing and recession-resilient industry that provides in-demand services, franchise…
50k 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
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As of May 16, 2024: