We at Spiffy are very excited about the opportunity to expand into the Birmingham market through our franchise offering. Given the key demographics we assess when analyzing a new market, we have a significant level of conviction in this market's potential. These metrics include population size, airport traffic, household income, and more.
The greater Birmingham area has a population of roughly 800,000, residing in over 300,000 households, representing a large market opportunity. Additionally, 67% of homes are owner-occupied, another positive indicator for Spiffy.
In 2018, the Birmingham-Shuttlesworth International Airport enplaned nearly 1.5 million passengers, making it one of the larger US airports that Spiffy is not already serving. The opportunity here relates to our national fleet accounts. Enterprise, for example, has a location at the Birmingham airport, in addition to numerous retail locations across the market. U-Haul, another of our fleet accounts, has multiple locations in and around Birmingham. These are just two examples of potential fleet clients in the area with whom our corporate entity already has a working relationship.
Birmingham's average household income is $88,000, a very positive indicator, given Spiffy's target market is convenience-oriented consumers with higher discretionary income.
Historically, Spiffy's retail customers are served primarily at work, when their cars are parked at their offices. Not only is Birmingham home to several large companies, but 67% of the population works white-collar jobs. Just as importantly, 84% of workers travel to work by driving alone, and an additional 9% carpool. That represents a lot of vehicles sitting idly at office parks during the workweek.
While every market is different, Birmingham certainly has many of the characteristics of markets in which Spiffy has been extremely successful.
Interested in exploring franchise opportunities in Birmingham? Get in touch with us today! 👇
Posted in Franchising
