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The table below offers a collection of data aimed at giving potential franchisees a glimpse into their market landscape. Click Read More to delve deeper, uncovering additional information to assist you in making a well-informed decision. These insights are tailored to highlight the opportunities in your city as you consider a franchise purchase.
Key Data Points for Charlotte, North Carolina | ||
Data | Charlotte, NC | Nationwide |
---|---|---|
Population | 896.21 thousand | 333.2 million |
Proj. 5 Year Population Growth | -9.0781% | 0.5% |
Median Household Income | $125,984 | $74,580 |
Median Age | 33.86 | 38.9 |
Residents per Business | 1 to 18 | 10 to 1 |
Annual Household Expenditures | $30.9 billion | $23.9 trillion |
City Data retrieved from https://sitesusa.com/Data |
Within a 5 mile radius of Charlotte's city center, the total annual consumer expenditure reached a notable $9.76 billion in 2023, and retail spending accounted for $4.55 billion. Significant spending categories include food and beverages at $1.41 billion, transportation at $1.74 billion, and shelter at $2.08 billion. This robust spending culture points to a thriving consumer market ripe for franchise ventures.
Read MoreWith a labor population age 16 years or over tallying 213,496, and a nearly equal gender distribution, the city presents a diverse workforce. A predominant white-collar segment makes up 68.5% of the occupational landscape, hinting at a market with disposable income. Commuting patterns further reflect Charlotte's active populace. A large segment prefers commuting to work solo, while a notable 38.4% have adopted a work-from-home regimen, possibly signaling flexible work schedules. This could result in increased weekday foot traffic for local businesses during off-peak hours.
The residential scene is diverse, boasting 116,879 housing units with a median home value of $463,023 and median rent at $1,147. This residential stability, combined with a median household income of $86,675, suggests a solid and potentially affluent customer base for franchises. On the business front, Charlotte houses 20,727 businesses, employing 213,844 individuals, indicating a healthy business environment with an ample customer and employee base. The substantial number of businesses also presents a favorable landscape for business services franchises, offering services and products to this thriving business community.
The promising economic, residential, and business landscapes in Charlotte, NC, offer a fertile ground for business opportunities across various sectors.
Explore the franchise listings below and take the first step towards a rewarding business venture.
At Franchise Ventures, we prioritize transparency and objectivity to empower your franchise decisions. Unlike brokers or franchisors, our motivations are unclouded by financial incentives tied to your choices. We don't earn based on the franchise you opt for, instead, our mission is to present you with impartial insights. Navigate through a realm of franchising opportunities with information you can trust.
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