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Kentucky Franchise Opportunities

Photo by andrew welch on Unsplash

Do you enjoy bluegrass music, horse racing, bourbon and college basketball? If so, Kentucky might be the best state for you to try your hand at a new business venture!

Established Industries

Like many states in the middle of the country, Kentucky has arable land that makes it ideal for farming. The first commercial vineyard was started in Kentucky, and today the state excels in horse, goat, beef and corn production.

Auto manufacturing is also a large part of the landscape, and Kentucky ranks 4th amongst the states in the number of automobiles assembled.

Fort Knox is also a major employer in the state, and recently opened the Army Human Resource Center for Excellence, which is the largest office building in the state.

Kentucky Living

When you decide a life of horse racing and fresh picked tobacco is for you, think about living in one of these Kentucky cities:

  • Louisville: Home of the Kentucky Derby, Kentucky Fried Chicken and Louisville Slugger baseball bats, this city is the largest in the state with 756,000 inhabitants.
  • Lexington: Known as the “Horse Capital of the World,” Lexington’s population has been growing steadily and has a strong economy based on manufacturing, government and technology jobs.
  • Bowling Green: Forbes calls it one of the top 25 places to retire, as it’s packed with parks, museums and public spaces.

Let’s Talk Taxes

When tax season rolls around, if you have a business in Kentucky you might have to pay up for the state’s limited liability entity tax, the corporation income tax, and a personal income tax ranging from 2 to 6 percent.

Kentucky by the Numbers

  • There are 339,703 small businesses in Kentucky, which make up 96.7 percent of all employers.
  • Kentucky has a GDP of $154.2 billion, and coal makes up 17 percent of that.
Virginia Franchise Opportunities

Chock full of history, good seafood and federal agencies, Virginia has a booming tech industry, a relatively high standard of living, and would be a fantastic place to start a new franchise!

Maine Franchise Opportunities

If you’re a fan of forests, find yourself salivating over seafood, and want some peace away from people, maybe Maine is the right state for you to settle down in and start a franchise. There are lots of smaller towns—such as Augusta, Portland and Bangor—that will provide enough customers to run a business, but without the overwhelming hustle and bustle of major metropolitan areas.

Missouri Franchise Opportunities

With three great rivers running through it, a diversity of geography, and an actively growing economy, Missouri is a prime place for new franchise growth.