Franchises for Sale in Detroit, Michigan
Detroit, Michigan Franchise Opportunities (and Businesses for Sale)
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
Automated Investments is the pillar of e-Commerce automation. Automated Investments build and operate profitable and hands off Amazon FBA (Fulfilled-By-Amazon) businesses for their clients and investors. While the clients and…
100k 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
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
Own a business that provides you the opportunity to help veterans, seniors, the disabled, caregivers, and others in your community. Keep them mobile by offering mobility products and equipment. Join Mobility Plus and start…
50k Minimum Cash Required
Over 30 years of consistent growth. Ongoing support. Multiple revenue streams. Whether you’re looking into owning your very first store, or you’re interested in adding to your existing franchise portfolio, Batteries Plus…
100k Minimum Cash Required
To gain comprehensive insights into Detroit, Michigan, 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.
| Detroit, Michigan Demographic Insights | ||
| Households (2023) | 256,359 | |
| Households (2028) | 248,559 | |
| Population (2023) | 637,871 | |
| Population (2028) | 608,631 | |
| Per capita Income (2023) | $24,399 | |
| Total Household Expenditures | $12,550,934,156 | |
| Total Retail Expenditures | $5,897,659,284 | |
| Average Household Income (2023) | $60,100 | |
| Average Household Income (2028) | $66,952 | |
| City Data retrieved from https://sitesusa.com/Data | ||
Local Insights
Detroit's automotive industry benefits from an average household income growth of 2.1% annually. With 46.8% of households having 1 vehicle available, there's a clear demand for automotive services in the city. Franchises that cater to car maintenance, repairs, or specialize in aftermarket parts could find significant market opportunities in Detroit.
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The food and beverage sector stands out with an annual expenditure of $1.87 billion in Detroit. The presence of a gap in the full-service restaurant market (potential sales exceeding actual sales by 11%) underscores a demand for quality dining experiences. The rise in the average household income to $60,100 in 2023 further supports the notion that residents might be inclined to dine out more frequently or explore different dining experiences.
The home services industry can capitalize on the increasing disposable income in Detroit for home improvements, evidenced by an average household income increase and 83.1% of housing units occupied. With a median home value of $111,345, there is potential for franchises offering renovation, landscaping, and maintenance services, especially considering the substantial market gap in furniture and home furnishing stores, with potential sales of $127.61 million far outpacing actual sales.
Explore the franchise listings below and take the first step towards a rewarding business venture.
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As of November 22, 2024: