Massachusetts Franchise Opportunities
One of the most historical places in America, Massachusetts has seen the first colony of Plymouth, the Salem witch trials, the Boston Tea Party and is home to Harvard University—the oldest institution of higher learning in the United States. This little state has a lot of people, and is a solid option for where to start your next franchise.
Making a Home in Massachusetts
If you want to live in The Bay State, consider picking between the two major cities:
- Boston: Two-thirds of the state’s population calls the greater Boston area home. It’s a significant place for American history, and home to many colleges and universities. Lots of companies have headquarters here, and the city has a large Jewish and LGBT communities.
- Springfield: A bustling cultural and economic center of the Connecticut River Valley, Springfield has a growing multi-cultural market, with Latinos making up a third of the population.
Making Money in Massachusetts
The economy in Massachusetts is driven by health care, higher education, finance, biotechnology and tourism. The state’s agriculture produces cranberries, tobacco, livestock and tree nuts.
The state has been named one of the “Top State’s for Business” by CNBC.
Massachusetts has the third highest per capita personal income in the country, and also has the sixth largest number of millionaires per capita.
Taxes in MA
Massachusetts has a corporate excise tax, which is based on both income and net worth. The state’s personal income tax is a flat 5.15 percent.
Business Statistics
- There are nearly 607,000 small businesses in Massachusetts, which make up 97.8 percent of employers in the state.
- Massachusetts has a GDP of $351.5 billion, and has one of the fastest growing GDPs in the country.
New York Franchise Opportunities
Although it may seem like New York is the land of major retailers, small business is booming in the Empire State—there are more than 2 million small businesses in New York. These are located in every region, city and neighborhood of the state, making New York a fantastic place to start your franchise.
Vermont Franchise Opportunities
Known for its maple syrup and outdoor activities, Vermont is a paradise for tourists, as well as its 626,000 residents. If you want a snowy winter home and well-educated neighbors, consider starting your franchise in the Green Mountain State!
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.
