Milwaukee, Wisconsin Franchise Market Analysis
To gain comprehensive insights into Milwaukee, Wisconsin, 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.
Milwaukee, Wisconsin Demographic Insights | ||
Households (2023) | 233,469 | |
Households (2028) | 231,223 | |
Population (2023) | 567,943 | |
Population (2028) | 561,644 | |
Per capita Income (2023) | $31,510 | |
Total Household Expenditures | $13,467,220,343 | |
Total Retail Expenditures | $6,335,417,119 | |
Average Household Income (2023) | $76,070 | |
Average Household Income (2028) | $83,354 | |
City Data retrieved from https://sitesusa.com/Data |
Local Insights
The automotive industry in Milwaukee is ripe for expansion, with a total of 320,893 vehicles available and a majority of households owning at least one vehicle. The drive to work statistics (64.9% drive alone, 7.5% in carpools) further show the demand for automotive services. Additionally, the gap report indicates a significant opportunity in the motor vehicle sector, with potential sales for new car dealers at $941.91 million versus actual sales of $429.87 million, and for recreational vehicle dealers with potential sales of $19.27 million against actual sales of just $402.8 thousand. This gap shows an unmet demand for vehicles and related services, positioning automotive franchises to potentially capture a significant market share.
Read MoreAs Milwaukee's average household income is on the rise, reaching an estimated $76,070 in 2023 with a projection to grow to $83,354 by 2028, the discretionary spending power of residents is likely to increase. The health and fitness industry can leverage this growing affluence, especially considering the lifestyle of the 18.7% of the workforce who works from home, potentially looking for convenient fitness options.
Milwaukee's housing data reveals a market with a wide variety of home ages, including 29.1% built before 1939, indicating a need for maintenance and renovation services. With 46.1% of homes being owner-occupied and a median home value of $184,264, there is a clear opportunity for home service franchises that offer renovation, repair, and general upkeep services.
The retail sector in Milwaukee shows robust potential, with a total retail consumer expenditure of $6.34 billion annually. Specific areas within retail show notable gaps, such as children's and infants' clothing stores, where potential sales of $19.15 million far exceed actual sales of $1.89 million. Moreover, family clothing stores have a potential of $117.66 million versus actual sales of $27.06 million. These gaps in the clothing sector suggest significant opportunities for retail franchises specializing in apparel.
Explore the franchise listings below and take the first step towards a rewarding business venture.
Milwaukee, Wisconsin Franchise Opportunities (and Businesses for Sale)
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
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
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
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
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
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As of May 14, 2024: