Edison, New Jersey Franchise Market Analysis
To gain comprehensive insights into Edison, 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.
Edison, New Jersey Demographic Insights | ||
Households (2023) | 6,228 | |
Households (2028) | 5,894 | |
Population (2023) | 15,226 | |
Population (2028) | 14,505 | |
Per capita Income (2023) | $61,163 | |
Total Household Expenditures | $587,695,131 | |
Total Retail Expenditures | $274,464,472 | |
Average Household Income (2023) | $149,459 | |
Average Household Income (2028) | $172,355 | |
City Data retrieved from https://sitesusa.com/Data |
Local Insights
Home services is a promising area for franchising in Edison, NJ. With a high homeownership rate, indicated by 60% of housing units being owner-occupied within a 5 mile radius of the city center, and a substantial median home value of $398,757, there is a clear potential market for home improvement and maintenance franchises. These services could range from landscaping to renovation, addressing the needs of the homes that may require updates or modifications.
Read MoreRetail franchises have a rich opportunity to tap into the $4.29 billion annual retail consumer expenditure within Edison. A specific look at apparel, which accounts for $333.62 million of the retail expenditure, signifies a robust market for clothing and fashion franchises. Given the average household net worth of $1.47 million and the high income levels, with 20.5% of households earning $200,000 or more, there is purchasing power to support a range of retail franchises, from mid-tier to luxury offerings.
Edison's automotive industry represents a substantial area for franchise development. Specifically, new car dealerships have a promising market gap with potential sales of $650.72 million against actual sales of $564.11 million. Used car dealerships also present an opportunity, with potential sales of $67.17 million versus actual sales of $37.27 million, highlighting a market for franchises offering certified pre-owned vehicles and value-driven options. Given the fact that 55.3% of the population drives to work alone, there is a clear demand for automotive services that facilitate the daily commute and enhance vehicle ownership experiences in Edison.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Edison, New Jersey Franchise Opportunities (and Businesses for Sale)
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
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
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
ATAX Tax Service is your premier destination for comprehensive and reliable tax assistance.
40k 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
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
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As of May 14, 2024: