- North Carolina is ranked the top state in the U.S. to start a franchise.
- Benefits of opening a franchise in North Carolina include a favorable tax climate and a skilled workforce.
- Contact Preservan to start your franchise in North Carolina today.
In 2020, franchises all around the world were threatened by the sudden COVID-19 pandemic. The economy took a massive hit and millions of people were left without jobs. Time has passed, and now we’re beginning to see where the ideal location is for entrepreneurship. North Carolina franchises should be at the top of your list if you’re an aspiring entrepreneur. There’s several financial benefits that come from opening a franchise in North Carolina and plenty of industries to choose from. If you’re looking to open a franchise in North Carolina, now is the time to do it.
North Carolina – Cultivating Success
In North Carolina, it costs less to do more. With the corporate tax rate being phased out and personal income tax rates decreasing annually, your company’s bottom line has the opportunity to expand. Whether your business is already established in North Carolina or you’re considering relocating here, the state is well-positioned to support your success.
Benefits Of Opening A Franchise In North Carolina
North Carolina is a dream destination for entrepreneurs. In 2022, CNBC ranked North Carolina as the top state for business. This is thanks to convenient tax rates, a skilled workforce, low business costs, and room for personal and professional growth.
Favorable Tax Climate
North Carolina boasts the nation’s most competitive corporate income tax rate at 2.5%, which is expected to decrease to 0% by 2030. Of all the states in the union, North Carolina has the lowest state and local business tax burden, along with the lowest effective tax rate for new firm corporate HQ’s. These benefits will help your company achieve a solid bottom line.
Skilled Workforce
North Carolina’s workforce is consistently recognized as one of the best in the country. With a labor force of 5.2 million and growing, they’re among the fastest-growing states by population, attracting over 340 new residents each day. North Carolina is home to the fourth-largest active-duty military population in the United States. These service members bring valuable experience in engineering, IT, healthcare, and other high-demand fields.
Low Business Costs
Growing your business here is more cost-effective, with commercial construction and electricity expenses significantly below the national average. #2 Lowest Business Costs, #5 Competitive Utility Rates, 15% Lower Construction Costs in NC Metros vs. U.S. Average. Additionally, North Carolina ranks 3rd in the nation for the lowest water and sewage rates.
Room For Growth
The customized training program at NCWorks provides training and recruitment services for North Carolina businesses. It offers a wide range of established training programs and can customize them to meet specific needs. For students, North Carolina is home to 110 universities and community colleges, offering a variety of programs that help you gain new credentials and explore new career opportunities.
Entrepreneurship In North Carolina
Entrepreneurs in the state are optimistic. In 2021, North Carolina had over 964,000 small businesses, representing more than 99% of all businesses in the state, while employing over 1.7 million people. By March 2022, state economists reported that North Carolina had fully rebounded from the economic impact of the pandemic.
North Carolina Franchise Opportunities
North Carolina is home to many of the world’s leading brands across countless industries. So, naturally North Carolina franchise opportunities are abundant. The state has evolved well beyond their traditional sectors of textiles, tobacco, and furniture, now tackling major global challenges with companies that are shaping the future. Whether in aerospace, IT, food processing, textiles, or home services, you’ll find the talent and infrastructure in North Carolina to launch your company to the top of your industry.
Aerospace
With aviation legacy pioneered by the Wright brothers, it’s no surprise that North Carolina remains a leader in aerospace and defense innovations. The aerospace and defense sectors are closely linked, and North Carolina’s rich aviation history, along with its major military bases like Fort Liberty, Camp Lejeune, and Seymour Johnson, make it an ideal location for both industries. Coupled with these advantages, it’s evident why aerospace and defense continue to flourish here.
Informational Technology
With North Carolina’s supportive business environment, low taxes, technology-friendly policies, and high quality of life, it makes the state an appealing destination for IT companies of all sizes. The combination of low tax burden and a highly educated workforce draws everything from large IT firms to promising startups.
Food Processing
In North Carolina, southern hospitality is reflected in their business practices as well. This is evident in the business-friendly environment and robust agricultural and food industry supply chain, which supports every aspect from sourcing and processing to manufacturing and distribution.
Textiles
With the nation’s largest textile mill industry, finding skilled workers and essential supply chain partners is effortless. The state’s long-standing leadership in the field also drives the commitment to innovation in nonwoven research and advanced technology. North Carolina’s low tax burden, established supply chain, extensive business network, and high quality of life further contribute to making it the perfect location for textile companies.
Home Services
High interest rates and home prices are prompting homeowners across North Carolina to invest in renovations rather than relocating. They’re adding second stories, removing walls, updating kitchens, and revamping outdoor living areas. The demand for home renovations grew during the pandemic, and now it’s benefiting the entire industry.
Open A Preservan Service In North Carolina
Preservan is a home services franchise dedicated to preserving the past. We have been serving our local communities and the planet for over 8 years. Fast forward to today and we are expanding our franchise opportunities across the nation. As a home services franchise, specializing in wood rot repair, we are committed to providing entrepreneurs with the tools and expertise they need throughout the United States.
Fill out our form to see if you’re qualified to own a Preservan franchise. If you meet the requirements, contact us about franchise opportunities to help get you started. Now is the best time to buy a franchise in North Carolina and Preservan is on the forefront of helping future franchisees achieve their dream of business ownership!