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.
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.
Minnesota Franchise Opportunities
The Land of 10,000 Lakes really is an accurate description of Minnesota—there are more than 11,000 lakes scattered across this beautiful state, whose name comes from the Dakota word meaning “clear blue water.” Minnesota has a high level of civic engagement, a high standard of living and is one of the best-educated states in the nation, making it a fabulous place to start your franchise and call home.
South Dakota Franchise Opportunities
If you long for a rural lifestyle, space to spread your wings and no taxes, South Dakota can certainly deliver. There are plenty of little towns you could easily excite by bringing in a new franchise!
Maryland Franchise Opportunities
Maryland might be small (only slightly larger than Hawaii), but it’s mighty—the wealthiest state in the nation with the highest median household income and the most millionaires per capita. Maryland takes advantage of its close proximity to Washington, DC, and is home to many companies in the defense, aerospace, biotechnology and governmental fields.
