So you want to start a franchise. That’s fantastic! But where should you open your business? What states?
I’ll show you.
10 Best States To Start Your Franchise
Before I share the top 10 states that are the best to start a franchise, I need to let you in on something.
I didn’t come up with the list of states to start your franchise. Christina Niu did.
Christina is a Senior Research Analyst at FRANdata, and holds an M.A. in Applied Economics from Georgetown University and a B.A. in Economics from the University of Colorado, Denver, with a minor in Mathematics.
Notably, she authored the 2022 Franchising Economic Outlook for the International Franchise Association (IFA).
And just so you know, my CV is quite similar, except I majored in mathematics at NYU.
I’m kidding! I couldn’t get past PRE-Algebra in high school.
But I do know franchising.
With that in mind, here are the 10 best states to start a franchise* according to the report I referenced above).
*Based on projected franchise business growth in 2022.
The Top 10 States For Franchising
How Do You Determine The Best Franchise To Start?
Start by making a good choice in a franchise business to own.
Note: when you start your business in the Sunshine State, this is how to start an LLC in Florida.
If You're Determined To Seriously Improve Your Odds Of Choosing The Right Franchise To Own, Check Out My Guaranteed Franchise Research Guide!
4. South Carolina
Read: “How To Buy A Franchise”
7. North Carolina
Do you live in one of those states?
Were you planning on moving to one of them?
There Are No Guarantees
While I absolutely trust the math, there are no guarantees that the projections listed in the 2022 Franchising Outlook will come to fruition. A lot of factors can come into play. Like:
A freaking pandemic.
A major economic downturn.
A war, and other unpleasantries I’m sure you can come up with on your own. My point?
Projections are well…projections.
But if was looking to open a franchise business in the U.S., I would certainly start with the 10 states listed above.
What do you think?