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!
Location, location, location
New Mexico has the highest percentage of Hispanic residents, as well as the second highest percentage of Native Americans, making it a unique cultural melting pot. Check out these suggestions of cities you might want to call home:
- Albuquerque: The largest city in the state with more than 555,000 residents, it straddles the Rio Grande River and is well known for its hot air balloon festival.
- Las Cruces: “The City of Crosses,” it’s located in the middle of the agricultural valley in the state. It also is a production spot for many films and TV shows!
- Santa Fe: The oldest state capital in the nation, Santa Fe is full of history and culture.
Making Money
Oil and gas account for a large chunk of New Mexico’s economy. The state is the third leading oil and gas produced in the country, producing more than 10 percent of the natural gas in America.
The federal government also adds to the economy, as it has three air force bases and an Army base in the state.
Tourism also plays a large part, with people coming to take in the Hispanic and Native American cultures, as well as the hot balloon rides. Consider opening a hotel or travel service (link) franchise here!
Business Incentives and Taxes
New Mexico offers many economic incentives to businesses looking to open in the state, including tax credits and tax exemptions, mostly based on job creation.
The state charges a corporate income tax ranging from 4.8 to 7.6 percent, as well as a franchise tax of $50 annually. The state personal income tax spans from 1.7 to 4.9 percent.
Delaware Franchise Opportunities
Small but mighty, Delaware is known as The First State—having been the first state to ratify the Constitution. These days, Delaware is home to a little less than a million people, and one of the largest Air Force bases in the country.
New Hampshire Franchise Opportunities
Are you a pioneering person who wants to pay less (or no!) taxes, and abide by the state motto of “Live free or die”? Do you want to hike in the summer and ski in the winter? If you value freedom and the great outdoors, New Hampshire could be a fantastic location for your next franchise.
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!
