Utah Franchise Opportunities
Utah is on the rise—with the second fastest growing population, it’s been found one of the best places to live, with healthy people, a strong economy and a beautiful landscape. Come join the Mormon majority, make your home and start a business in Utah!
Where to Live
Nearly 80 percent of Utah’s population lives within the greater Salt Lake City area, and the bulk of the rest live in the Dixie area in the southwestern part of the state. Here are a few places you might want to consider:
- Salt Lake City: Founded by Mormons and home to The Church of Jesus Christ of Latter-Day Saints, Salt Lake City is a destination for tourists seeking outdoor sports in the winter, and is also the industrial banking center of America.
- St. George: The second-fastest growing metropolitan area in the country, St. George also has LDS roots, but boasts a strong economy and great recreation sites.
Economic Drivers
In 2014, Utah was ranked the best state for business by Forbes, citing its booming economy, high-paying jobs, low unemployment rate, low taxes and general friendliness.
Major industries in Utah include mining, petroleum, government services, cattle ranching and salt production. Tourism is also a large factor in the state’s economy, as it holds a huge number of national parks, monuments and forests.
Let’s Talk Taxes
Utah has both a corporate income tax of 5 percent, as well as a 5 percent franchise tax on net income. There’s also a state personal income tax at a flat rate of 5 percent. Utah really makes it easy!
Business by the Numbers
- There are 247,700 small businesses in Utah, which make up 96.8 of the state’s employers.
- Of those, 7,620 are franchises, which employ 84,200 people.
- Utah has a GDP of $142.3 billion, slightly lower than that of Vietnam.
South Carolina Franchise Opportunities
With a strong labor force, laws benefitting businesses and fairly low taxes, South Carolina is a good place to start a new franchise. If you’re a fan of fresh tobacco and southern cooking, think about making the Palmetto State your new home!
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.
Alaska Franchise Opportunities
Alaska sits high above the rest of the continental United States, home to 735,000 souls brave enough to take on the long winters and harsh conditions. If you’re tough enough to live in “The Last Frontier,” you will be rewarded with some of the lowest taxes in the country!
