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Virginia Franchise Opportunities

Photo by STEPHEN POORE on Unsplash

Chock full of history, good seafood and federal agencies, Virginia has a booming tech industry, a relatively high standard of living, and would be a fantastic place to start a new franchise!

Selecting a City

More than 8.3 million people call the commonwealth home, and there are a variety of metropolitan areas across the state that could be a perfect new home for you:

  • Arlington: Located directly across the river from Washington, DC, Arlington is home to many federal agencies, and makes a great commuter town for those who work in the district.
  • Virginia Beach: The largest city in Virginia, it is a resort city with plentiful beaches, hotels and state parks. Consider opening a hotel (link) or ice cream (link) franchise on the beach here!
  • Chesapeake: Located in the southeastern part of the state, Chesapeake has miles of waterfront, and has been voted on of the best cities in America.

Major Industries

Virginia has a diverse and robust economy, with a GDP of $478.7 billion, placing it in the top 10 states. The government is a large driver of the economy, with 12 percent of all federal procurement money being spent in the state.

Technology also accounts for a major chunk of the economy, and computer chips are the state’s highest grossing export. Agriculture—including tomatoes, soy, peanuts, hay and tobacco—is also significant.

Let’s Talk Taxes

Virginia has a corporate income tax of a 6 percent flat rate, and does not have a franchise or business tax. There is a state personal income tax ranging from 2 to 5.75 percent.

Business Statistics

  • There are 656,200 small businesses in Virginia, making up 97.8 percent of employers in the state.
  • Of those, 24,800 are franchises, which employ 287,000 people.
  • Virginia’s GDP is slightly larger than that of Argentina.
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!

Vermont Franchise Opportunities

Known for its maple syrup and outdoor activities, Vermont is a paradise for tourists, as well as its 626,000 residents. If you want a snowy winter home and well-educated neighbors, consider starting your franchise in the Green Mountain State!

Maine Franchise Opportunities

If you’re a fan of forests, find yourself salivating over seafood, and want some peace away from people, maybe Maine is the right state for you to settle down in and start a franchise. There are lots of smaller towns—such as Augusta, Portland and Bangor—that will provide enough customers to run a business, but without the overwhelming hustle and bustle of major metropolitan areas.