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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.
Michigan Franchise Opportunities

Home of the American automotive industry, Michigan is a state filled with the beauty of nature, lots of water sources, and more agriculture than you might think. With nearly 10 million residents, Michigan is a fantastic place to start a franchise, and will offer you plenty of opportunities to escape into the great outdoors.

North Dakota Franchise Opportunities

North Dakota is booming—it has the lowest unemployment rate, the fastest growing GDP and has the largest percent increase in population in the past five years. A new kind of gold rush has brought this all about, and if you’re willing to cater to the oil field workers, you too can cash in on the opportunities abounding in this northern state.

Washington Franchise Opportunities

A mountainous and breathtaking state in the Pacific Northwest, Washington is green, clean and almost tax-free. It is a major agricultural state, but also has a number of other industries. If you want a low-tax place to enjoy the beauty of nature, try your hand at franchising in Washington!