Arkansas Franchise Opportunities
You can have it good, for cheap, if you decide to start a franchise in Arkansas! In 2014, Arkansas was found to be the most affordable state to live in.
Where to Begin
If you want to live in Arkansas, consider one of the following locations:
- Little Rock: The capital city, this is also the largest and most populated place in the state, clocking in with close to 200,000 residents.
- Fort Smith Metropolitan Area: Although this area technically includes two counties in Oklahoma, it is a thriving corner of Arkansas and boasts 85,000 people in the city of Fort Smith alone.
- Fayettville-Springdale-Rogers Metropolitan Area: Located in Northwest Arkansas, this is one of the fastest growing metro areas and has doubled in population between 1990 and 2010.
Let’s Talk Taxes
Arkansas has a corporation franchise tax, which might set you back a few hundred dollars, depending on what kind of franchise you open. In addition, the state also has a graduated corporate income tax, which varies based on net income. Arkansas also has a personal income tax, which swings from 1 to 7 percent based on income.
Adding up Arkansas
- There are 241,455 small businesses in Arkansas, which make up 96.8 percent of all employers in the state.
- Self-employment in Arkansas has improved over the last decade, and minority self-employment has seen the most growth.
- Arkansas has six national park sites, 2.5 million acres of national forests and 50 state parks, truly earning its name as “The Natural State.”
Alabama Franchise Opportunities
While you might think of peanuts and cotton, the state of Alabama boasts a wide array of businesses and nearly five million residents. Major industries include agriculture, aerospace, mining and automobile manufacturing. The economy is comprised mainly of small businesses, and would be an excellent place to open your new franchise!
Minnesota Franchise Opportunities
The Land of 10,000 Lakes really is an accurate description of Minnesota—there are more than 11,000 lakes scattered across this beautiful state, whose name comes from the Dakota word meaning “clear blue water.” Minnesota has a high level of civic engagement, a high standard of living and is one of the best-educated states in the nation, making it a fabulous place to start your franchise and call home.
Maryland Franchise Opportunities
Maryland might be small (only slightly larger than Hawaii), but it’s mighty—the wealthiest state in the nation with the highest median household income and the most millionaires per capita. Maryland takes advantage of its close proximity to Washington, DC, and is home to many companies in the defense, aerospace, biotechnology and governmental fields.
