Connecticut Franchise Opportunities
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.
New Mexico Franchise Opportunities
If you want a state that offers a multitude of incentives for opening a business, low income taxes and plenty of room to set up shop, New Mexico could be a stellar place for you to being a new adventure in franchising!
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!
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!