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Wyoming Franchise Opportunities

Photo by Nicole Harrington on Unsplash

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!

City Selection

Most of the cities in Wyoming are quite small, but you’re not moving to this beautiful state to be in a busting metropolis. Consider these little gems as potential new homes:

  • Cheyenne: The capital and largest city, Cheyenne’s economy is built on the government, but has been growing steadily, and now has a Lowe’s and Wal-Mart in town. It’s also one of the windiest cities in the country due to its high elevation.
  • Casper: Known as “The Oil City,” Casper has consistently been ranked one of the best small cities to raise a family in, and has a handful of museums and a burgeoning arts scene, including a drum corps.

Major Industries

The two main drivers behind Wyoming’s economy are mineral extraction and tourism. Wyoming produces coal, natural gas, crude oil, diamonds and uranium.

Tourism is a major player, with more than six million people coming to visit national parks and monuments each year, which brings more than $2 million in revenue for the state.

Let’s Talk Taxes

Wyoming is one of only four states that does not charge a corporate income tax nor a personal income tax, and is one of the most tax-friendly states in the nation. There is still a franchise tax of $50, but in the scheme of things, this is one of the cheapest places you could choose to open a business!

Business by the Numbers

  • There are 62,500 small businesses in Wyoming, which account for 96.2 percent of all employers in the state.
  • Of those, 1,780 are franchises, which employ 20,100 people.
  • Wyoming has a GDP of $40.5 billion.
North Dakota Franchise Opportunities

North Dakota is booming—it has the lowest unemployment rate, the fastest growing GDP and has the largest percent increase in population in the past five years. A new kind of gold rush has brought this all about, and if you’re willing to cater to the oil field workers, you too can cash in on the opportunities abounding in this northern state.

Montana Franchise Opportunities

If you long for the great outdoors and want to live in a lot of space without a lot of people, consider moving to Montana, where some of the most beautiful natural spaces are national parks, and there won’t be much to block your view of the mountains.

South Dakota Franchise Opportunities

If you long for a rural lifestyle, space to spread your wings and no taxes, South Dakota can certainly deliver. There are plenty of little towns you could easily excite by bringing in a new franchise!