Tennessee Franchise Opportunities
Birthplace to the blues and home to more than 6.5 million people, Tennessee attracts tourists from around the world, has a low cost of living and a booming economy. Consider making Tennessee your next home for a franchise!
Finding a City
With people relocating from across the country to live here, Tennessee’s population is growing rapidly. Check out these cities to see if you’ll join in on the trend:
- Memphis: The city where the blues came to life, Memphis still has strong musical roots and is known for its music, arts and barbecue scenes. It’s also the biggest city in all of Tennessee.
- Nashville: Also a city with a musical history, Nashville is home to the Grand Ole Opry. In addition, it has many institutes of higher education and large publishing, banking and health care industries.
An Economy on the Rise
Tennessee has a GDP of $304 billion, putting it on par with the entire country of Malaysia. The major industries in the state include agriculture (cotton and cattle), textile production, and electrical power. In addition, the healthcare and automotive industries have been quickly taking off in Tennessee, and tourism also brings in a significant amount of money.
Tennessee would be a great place to consider opening an automotive (link), hotel (link) or BBQ (link) franchise!
Let’s Talk Taxes
Taxes in Tennessee include an excise tax on net earnings of 6.5 percent, as well as a franchise tax on net worth. There is no state personal income tax, but there is a “hall tax” of 6 percent on interest and dividends.
Business by the Numbers
- There are 560,500 small businesses in Tennessee, which make up 97 percent of the state’s employers.
- Of those, 21,300 are franchises, which employ 223,900 people.
Arizona Franchise Opportunities
If you’re looking for a place to settle that will provide you great business opportunities with a high quality of life, consider launching your franchise in Arizona!
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!
Georgia Franchise Opportunities
If you want a truly southern experience, full of sweet tea and porch swings, consider opening a franchise in Georgia. Southern hospitality, a diverse landscape and lots of tourism can be assets for any business you choose to start here.
