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.
Alaska Franchise Opportunities
Alaska sits high above the rest of the continental United States, home to 735,000 souls brave enough to take on the long winters and harsh conditions. If you’re tough enough to live in “The Last Frontier,” you will be rewarded with some of the lowest taxes in the country!
South Carolina Franchise Opportunities
With a strong labor force, laws benefitting businesses and fairly low taxes, South Carolina is a good place to start a new franchise. If you’re a fan of fresh tobacco and southern cooking, think about making the Palmetto State your new home!
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.