Mid-tier Metros Log Fastest Growth in Franchise Interest for Q4
Jacksonville, Tucson Lead Top 50 Metro Areas, as Springfield and Worcester Top Mid-Sized Metros
Mid-sized metropolitan areas under 1 million population showed some of the strongest year-over-year growth in franchise-buying interest, claiming 7 of the top 10 spots in latest business data from Franchise Insights. The rest of the top 10 were large metros with 1-5 million population, and only two major metros over 5 million ranked in the Top 20.
The Franchise Interest Index™ reveals the relative interest of entrepreneurs making an investment inquiry by indexing proprietary data against a region’s adult population on a per capita basis. This analysis compared Q4 2019 investment inquiries to the year-earlier period for 106 MSAs (metropolitan statistical areas) with more than 500,000 in total population.
- Springfield and Worcester, Mass., claimed the top 2 spots in the growth rankings, with 76.6% and 73.9% annual growth in the Q4 index. Wichita, Kansas, and Scranton, Pa., were next in the rankings – all four have metro populations between 500,000 and 1 million.
- Jacksonville, Fla., ranked No. 5 with 33.7% growth, followed by Tucson, Ariz., at No. 6 with a 27.9% gain in Q4. Both are large metros with 1-5 million population, as is Virginia Beach, Va., which ranked No. 7 with 23.8% growth.
- Among major metros over 5 million population, Atlanta and Phoenix were the only ones in the Top 20, ranking No. 14 and 15 respectively. Larger, established markets typically grow at a slower pace, but Atlanta actually ranked No. 1 among Top 100 Metros (LINK) for a Franchise Interest score that was more than twice the national average.
Franchise Ventures is the largest demand generation platform serving thousands of growing franchise systems in the United States and Canada. Its franchise lead-generation businesses include Franchise.com, Franchise Solutions, Franchise Gator, Franchise Opportunities, Franchise For Sale, BusinessBroker.net, and SmallBusinessStartup.com and together they provide the largest collection of prospective franchise inquiries in the U.S.
|Metro MSA||Q4 change in index|
|8.||Virginia Beach-Norfolk-Newport News, VA-NC||23.8%|
|12.||Urban Honolulu, HI||19.2%|
|14.||Atlanta-Sandy Springs-Roswell, GA||18.3%|
|16.||Louisville/Jefferson County, KY-IN||16.5%|
Published on Wednesday, March 25th, 2020.