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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.
Maryland Franchise Opportunities

Maryland might be small (only slightly larger than Hawaii), but it’s mighty—the wealthiest state in the nation with the highest median household income and the most millionaires per capita. Maryland takes advantage of its close proximity to Washington, DC, and is home to many companies in the defense, aerospace, biotechnology and governmental fields.

Pennsylvania Franchise Opportunities

One of the 13 original states and chock full of history, Pennsylvania has a diverse population of nearly 13 million people and one of the largest economies in the nation. This is an ideal place to begin a new life and a new franchise!

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!