Franchises for Sale in Norfolk, Virginia
Norfolk, Virginia Franchise Opportunities (and Businesses for Sale)
| Order | Franchise Name | Industry Name | Available Capital | ||
|---|---|---|---|---|---|
| 1 |  | The UPS Store | Printing Packing & Shipping | $75,000 | |
| 2 |  | Automated Investments | Business Opportunities | $100,000 | |
| 3 |  | Proper Ecom | Business Opportunities | $50,000 | |
| 4 |  | Zoomin Groomin | Pet | $90,000 | |
| 5 |  | GarageExperts | Home Services & Repair Franchises | $60,000 | |
| 6 |  | Batteries Plus | Retail Franchises | $100,000 | |
| 7 |  | Blue Coast Savings Consultants | Financial Franchises | $70,000 | |
| 8 |  | Mr. Electric | Home Services & Repair Franchises | $65,000 | |
| 9 |  | My Business Venture | Computer & Internet Franchises | $10,000 | |
| 10 |  | Glass Doctor | Auto Franchises | $50,000 |
To gain comprehensive insights into Norfolk, Virginia, 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.
| Norfolk, Virginia Demographic Insights | ||
| Households (2024) | 92,872 | |
| Households (2029) | 87,849 | |
| Population (2024) | 232,054 | |
| Population (2029) | 221,866 | |
| Per capita Income (2024) | $39,441 | |
| Total Household Expenditures | $8,325,603,312 | |
| Total Retail Expenditures | $4,123,145,312 | |
| Average Household Income (2024) | $93,738 | |
| Average Household Income (2029) | $97,008 | |
| City Data retrieved from https://sitesusa.com/Data | ||
Local Insights
Norfolk’s food and beverage consumer expenditure stands at $951.84 million annually, a testament to the city’s appetite for dining options. This data indicates a robust market for new food franchises, particularly when considering Norfolk’s monthly household consumer expenditure on food and beverages which is 14.8% of total expenses. Franchise concepts that can cater to a variety of preferences, from fast food to ethnic cuisines, could find a welcoming environment in Norfolk’s dynamic food scene.
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With the average vehicles per household at 1.6 and substantial transportation consumer expenditures of $1.17 billion annually, there’s a pronounced potential for automotive franchises in Norfolk. The Retail Gap Report further supports this with a potential of $593.41 million in Motor Vehicle and Parts Dealers against actual sales of $477.53 million, and New Car Dealers showing a potential of $454.61 million against $320.55 million in sales. This data reveals a potential for franchises focused on services such as maintenance, repairs, and parts, as well as new and used car sales, emphasizing the importance of automobiles in Norfolk residents’ daily lives.
In Norfolk's thriving business climate, the concentration of companies is a key indicator of the demand for business services. The city is home to a notable number of businesses, with a total count of 9,267, which includes 276 company headquarters. This signifies a substantial base of potential B2B clients for franchises offering services such as corporate training, consulting, office management, and outsourced HR services. Franchises that provide specialized services to support the unique needs of these headquarter companies could capitalize on the potential for long-term contracts and high-value client relationships in Norfolk's robust commercial sector.
Could Norfolk Be the Perfect Spot for Your Franchise?
- What's the demand for goods and services like in Norfolk?
- How many people could my franchise potentially reach?
- Is the workforce in Norfolk strong enough to support my franchise?
- Does Norfolk have a financially stable community?
- What about the housing market? Does it reflect community stability?
- Why is Norfolk a good location for a franchise?
What's the demand for goods and services like in Norfolk?
Residents in Norfolk spend $8.33 billion annually, demonstrating steady consumer demand and a strong market for franchise opportunities.
How many people could my franchise potentially reach?
With 232,054 residents and 92,872 households, your business can tap into a large, diverse, and growing customer base.
Is the workforce in Norfolk strong enough to support my franchise?
Yes! With 56,991 employed individuals, Norfolk offers a reliable labor market for hiring and business growth.
Does Norfolk have a financially stable community?
Indeed. The median household income in Norfolk is $62,697, reflecting a community that can afford a variety of franchise offerings.
What about the housing market? Does it reflect community stability?
Certainly. With 40,342 owner-occupied homes, Norfolk showcases a stable and invested population with strong local ties.
Why is Norfolk a good location for a franchise?
With a high-spending population, workforce availability, and strong economic stability, Norfolk offers a high-potential market for franchise growth.
Explore the franchise listings below and take the first step towards a rewarding business venture.
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As of February 22, 2025: