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.
Economy: The Sea, The Land, The People
- Water: Commercial fishing, especially of lobster and ground fish, are major economic drivers for the state. The aquifers in Maine also supply to the bottled water industry, and the ports in the state are the busiest in New England.
- Land: Maine’s agricultural exports include blueberries, apples, potatoes, maple sugar, maple syrup, eggs and poultry. Maine also exports large amounts of paper, lumber and wood products, due to its heavy forestation.
- People: Tourism plays a large part in Maine’s economy, and the state draws in people looking for sport hunting, fishing, snow sports, camping and hiking.
Taxes in The Pine Tree State
Maine has a corporate income tax, but does not have a franchise or business privilege tax, so unless you run a C corporation, you won’t have to pay a state tax on your income. If your business income passes through you personally, you will have to pay the state income tax that ranges from 6.5 to 7.95 percent.
- Maine is the only state that borders one other state—New Hampshire.
- More than 94 percent of the people in Maine are non-Hispanic whites, the highest of any state.
- Maine has the highest percentage of French speakers, with 5.3 percent of households using it as their language at home.
- This is the state that sits furthest northeast, and gets the first rays of morning sun.
- There are 143,142 small businesses in Maine, which constitute 97 percent of all employers.
- Maine has a GDP of $48.1 billion, and an unemployment rate of 6.7 percent.
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!
West Virginia Franchise Opportunities
Located in the heart of Appalachia, West Virginia is renowned for its rolling hills and beautiful foliage. A center for coal mining and logging, it also has a bevy of recreational activities and some of the most extensive cave systems in the country. If you want to start a franchise in a place with beautiful scenery and an interesting political background, check out the Mountain State of West Virginia!
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!