If you’re hoping to get into business and would like an upper hand when you’re getting started, franchises are a great option.
Buying a franchise is a great way to get started in the business world, but not all cities and states are equal when it comes to franchises that’re available.
In some parts of the US, the franchise marketplace is dynamic and constantly providing great opportunities. Soon-to-be entrepreneurs or small business owners seeking to expand their footprint will find many options in the Lone Star State, according to a recent study by LendingTree. Of the top 5 cities that’re the most franchise-friendly, three are located in Texas. San Antonio, Dallas, and Houston are all on the top 5 list for the cities where the highest percentage of businesses operate as franchises. In San Antonio, almost 10% of all businesses are franchises, although many of them are quite small. Despite this, franchises in the city pay about 13% higher payrolls than non-franchised businesses.
The cities with the lowest franchise rates in the US are overwhelmingly coastal cities. This is true in multiple areas of the country, from New York City to Miami to Los Angeles. The bottom of the list is dominated with coastal cities from all over the US. That being said, across the country franchises are bigger employers than non-franchised businesses.
If you’re living in one of the big coastal cities, you’ll have a harder time finding a franchise to buy. While moving to buy a franchise isn’t an idea that would be on many peoples’ minds, if you live in a particularly franchise-friendly part of the country it may be worth it to shop around.