Franchises for Sale in Norfolk, Virginia
Norfolk, Virginia Franchise Opportunities (and Businesses for Sale)
Here at The UPS Store franchise, we know first-hand how important a healthy work-life balance is. When you become an owner of a The UPS Store, you are assisted with finding the right balance as you pursue your entrepreneurial…
75k 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
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
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
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 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 (2023) | 93,143 | |
| Households (2028) | 92,207 | |
| Population (2023) | 234,157 | |
| Population (2028) | 227,908 | |
| Per capita Income (2023) | $41,157 | |
| Total Household Expenditures | $6,449,178,474 | |
| Total Retail Expenditures | $3,031,664,936 | |
| Average Household Income (2023) | $98,605 | |
| Average Household Income (2028) | $108,632 | |
| 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.
Explore the franchise listings below and take the first step towards a rewarding business venture.
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As of November 22, 2024: