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Massachusetts Franchise Opportunities

Photo by Lance Anderson on Unsplash

One of the most historical places in America, Massachusetts has seen the first colony of Plymouth, the Salem witch trials, the Boston Tea Party and is home to Harvard University—the oldest institution of higher learning in the United States. This little state has a lot of people, and is a solid option for where to start your next franchise.

Making a Home in Massachusetts

If you want to live in The Bay State, consider picking between the two major cities:

  • Boston: Two-thirds of the state’s population calls the greater Boston area home. It’s a significant place for American history, and home to many colleges and universities. Lots of companies have headquarters here, and the city has a large Jewish and LGBT communities.
  • Springfield: A bustling cultural and economic center of the Connecticut River Valley, Springfield has a growing multi-cultural market, with Latinos making up a third of the population.

Making Money in Massachusetts

The economy in Massachusetts is driven by health care, higher education, finance, biotechnology and tourism. The state’s agriculture produces cranberries, tobacco, livestock and tree nuts.

The state has been named one of the “Top State’s for Business” by CNBC.

Massachusetts has the third highest per capita personal income in the country, and also has the sixth largest number of millionaires per capita.

Taxes in MA

Massachusetts has a corporate excise tax, which is based on both income and net worth. The state’s personal income tax is a flat 5.15 percent.

Business Statistics

  • There are nearly 607,000 small businesses in Massachusetts, which make up 97.8 percent of employers in the state.
  • Massachusetts has a GDP of $351.5 billion, and has one of the fastest growing GDPs in the country.
California Franchise Opportunities

California truly is The Golden State. Home to an array of important people, places and companies, California is a franchisee’s paradise. The beautiful landscapes are complemented by the booming economy, and there are plentiful opportunities for motivated entrepreneurs who want to begin a new venture on the West Coast.

Texas Franchise Opportunities

Everything may be bigger in Texas, but it ranks second in many things: population, size of the state and GDP. Still, that’s enough to make it one of the biggest, most productive states out there, with enough barbecue, chili and cowboys for all.

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!