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.
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?