Lexington, Kentucky Franchise Market Analysis
To gain comprehensive insights into Lexington, Kentucky, 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.
Lexington, Kentucky Demographic Insights | ||
Households (2023) | 137,294 | |
Households (2028) | 138,223 | |
Population (2023) | 322,038 | |
Population (2028) | 327,822 | |
Per capita Income (2023) | $46,653 | |
Total Household Expenditures | $10,167,484,279 | |
Total Retail Expenditures | $4,768,670,944 | |
Average Household Income (2023) | $108,690 | |
Average Household Income (2028) | $117,317 | |
City Data retrieved from https://sitesusa.com/Data |
Local Insights
The gap report in Lexington indicates a healthy opportunity in the motor vehicle and parts dealer sector, with potential sales of $938.69 million and actual sales of $808.97 million. The automotive industry, bolstered by an estimated 229,495 total vehicles available and the fact that 55% of households have two or more vehicles, is ripe for growth. Ventures in auto repair and maintenance services could thrive, considering the city's dominant car culture.
Read MoreThe food and beverage sector in Lexington shows promise, with the total annual consumer expenditure in this category reaching $1.49 billion. The presence of a significant number of households (over 32% being 1-person and 33.9% being 2-person households) suggests a demand for convenient dining options that a food franchise could cater to, especially for those looking for quick and healthy meals.
The variety of housing units, including a notable percentage of owner-occupied homes (52.6%), and the median home value of $250,139 suggest a market for home improvement and maintenance franchises. There's potential in targeting services that cater to homeowners looking to enhance their property values or maintain their homes, especially considering the median age of homes is 42.8 years, indicating a need for ongoing maintenance.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Lexington, Kentucky Franchise Opportunities (and Businesses for Sale)
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
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
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
Wings Etc. is a sports-themed, family-friendly restaurant and pub with over 30 years of industry-leading experience. With a diverse menu featuring Award-Winning Jumbo Wings, Premium Burgers, Wraps, Salads, Cold Beers, and…
350k 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
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Most Popular Industries & Categories
As of May 16, 2024: