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Maine Franchise Opportunities

Photo by Mercedes Mehling on Unsplash

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.

State Statistics

  • 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.

Business Breakdown

  • 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.
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!

Wyoming Franchise Opportunities

Although Wyoming has the smallest population and almost the lowest population density, the federal government owns nearly half the land in the state because it’s filled with such magical displays of nature. Yellowstone, Grand Teton National Park, Devils Tower and many more could all be in your backyard if you decide to start your next franchise in Wyoming!

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.