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!
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.
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.
Delaware Franchise Opportunities
Small but mighty, Delaware is known as The First State—having been the first state to ratify the Constitution. These days, Delaware is home to a little less than a million people, and one of the largest Air Force bases in the country.
Michigan Franchise Opportunities
Home of the American automotive industry, Michigan is a state filled with the beauty of nature, lots of water sources, and more agriculture than you might think. With nearly 10 million residents, Michigan is a fantastic place to start a franchise, and will offer you plenty of opportunities to escape into the great outdoors.