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Utah Franchise Opportunities

Photo by Chris An on Unsplash

Utah is on the rise—with the second fastest growing population, it’s been found one of the best places to live, with healthy people, a strong economy and a beautiful landscape. Come join the Mormon majority, make your home and start a business in Utah!

Where to Live

Nearly 80 percent of Utah’s population lives within the greater Salt Lake City area, and the bulk of the rest live in the Dixie area in the southwestern part of the state. Here are a few places you might want to consider:

  • Salt Lake City: Founded by Mormons and home to The Church of Jesus Christ of Latter-Day Saints, Salt Lake City is a destination for tourists seeking outdoor sports in the winter, and is also the industrial banking center of America.
  • St. George: The second-fastest growing metropolitan area in the country, St. George also has LDS roots, but boasts a strong economy and great recreation sites.

Economic Drivers

In 2014, Utah was ranked the best state for business by Forbes, citing its booming economy, high-paying jobs, low unemployment rate, low taxes and general friendliness.

Major industries in Utah include mining, petroleum, government services, cattle ranching and salt production. Tourism is also a large factor in the state’s economy, as it holds a huge number of national parks, monuments and forests.

Let’s Talk Taxes

Utah has both a corporate income tax of 5 percent, as well as a 5 percent franchise tax on net income. There’s also a state personal income tax at a flat rate of 5 percent. Utah really makes it easy!

Business by the Numbers

  • There are 247,700 small businesses in Utah, which make up 96.8 of the state’s employers.
  • Of those, 7,620 are franchises, which employ 84,200 people.
  • Utah has a GDP of $142.3 billion, slightly lower than that of Vietnam.
Colorado Franchise Opportunities

With plenty of space for outdoors adventures, Colorado is a state for those looking to start a franchise in a cultural hot spot with surrounded by expansive wilderness. The economy is booming in this Four-Corner state, and it has been consistently referred to as a top state to do business.

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!

Nebraska Franchise Opportunities

If you like the idea of small town living, and want a close-knit community you can bring a new franchise to, Nebraska might suit you just fine.