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Identify the perfect franchise for you! Take our short quiz Take our free franchise quiz!
Identify the perfect franchise for you! Take our short quiz Take our free franchise quiz!

Connecticut Franchise Opportunities

Photo by Derek Story on Unsplash

This small, New England state has come a long way from its Dutch roots. Considered part of the Tri-State area with New York and New Jersey, Connecticut is a home to the financial services industry, including insurance companies and hedge funds. It’s no surprise the state has the highest per capita income and median household income in the U.S. If you’re looking to make some real profit, look no further than Connecticut!

Where to Settle

If you plan on founding a franchise in Connecticut, consider living in Bridgeport, the most populous city with 144,000 residents; New Haven, the home of Yale University; Hartford, the capital of the state; or Stamford, which is considered part of the Greater New York metropolitan area.

Let’s Talk Taxes

If you want to start a franchise, Connecticut’s taxes would make it easier for you—the state doesn’t have any franchise or business privilege tax.

However, Connecticut does tax the net income of corporations at a flat rate of 7.5 percent, with a minimum tax of $250. Unless it’s a traditional corporation though, you don’t have to worry about that.

There is a personal income tax on a graduated scale of 3, 5 and 6.5 percent based on income that you will have to pay if the revenue from your franchise passes through you personally.

Business in The Nutmeg State

  • There are 332,000 small businesses in Connecticut, which make up 97.2 percent of all employers in the state.
  • Of those, 93,480 are women-owned, and 39,800 are minority-owned.
Rhode Island Franchise Opportunities

If you’re interested in healthcare and senior care (link), or want to live in the smallest state with the longest name, Rhode Island—technically, State of Rhode Island and Providence Plantations—might be a place to consider for your next franchising opportunity.

Washington, DC Franchise Opportunities

The nation’s capital and home to a proliferation of government activity, DC is a great place to take advantage of a fairly affluent population, great (and free!) museums, and a dazzling art scene. If you’re thinking about opening a franchise, Washington, DC might be the perfect place for you!

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.