- Virginia has been named the top state to open a franchise in 2024.
- The benefits of opening a franchise in Virginia include a low unemployment rate and competitive corporate taxes.
- Contact Preservan to open a franchise in Virginia.
Virginia, known for its romantic charm, also has a unique appeal for aspiring entrepreneurs to open a franchise. In CNBC’s competitiveness ranking, Virginia was once again named America’s Top State for Business, marking the fifth time since the study began in 2007 that the state has achieved this distinction. In addition to its scenic beauty and historic landmarks, the state presents a promising environment for franchise owners. If you’re wanting to open a franchise on the east coast, here are some advantages you can expect from starting a venture in Virginia.
Virginia – A Business Breeding Ground
Virginia has become a premier destination for aspiring entrepreneurs to open a franchise in recent years. Between 2022 and 2023, 10,337 new high-growth and high-wage startups were established within the state. With the country’s top education system and policies that provide companies the space to expand, Virginia has been named America’s Top State for Business in 2024.
Benefits Of Opening A Franchise In Virginia
Virginia is one of the top states in the country to open a franchise. Several factors make it an attractive landscape for entrepreneurs looking for franchise opportunities. Accessibility, low unemployment, and competitive corporate taxes are key benefits business owners should consider.
Accessibility
With 121 million people within a day’s drive, Virginia is among the most accessible states in America to open a franchise. It’s highly accessible online, as approximately 70% of global internet traffic passes through Northern Virginia thanks to its significant concentration of data centers. Virginia also has an extensive network of highways, railways, ports, and airports.
Low Unemployment
Virginia’s strong economic stability is reflected in its low unemployment rate of 2.90%. This robust job market not only supports the workforce but also signals a favorable environment for business growth and development.
Competitive Corporate Taxes
Virginia’s business-friendly stance is exemplified by its competitive corporate tax rate of 6.00%. This beneficial rate boosts the state’s attractiveness by creating a supportive fiscal environment for businesses of all sizes and sectors, making it easier to open a franchise in Virginia.
Entrepreneurship In Virginia
Virginia’s exceptional talent base provides a world-class labor pool equipped to meet the diverse needs of aspiring entrepreneurs. The state’s workforce is among the most educated in the country, with nearly 42% of the population holding a bachelor’s degree or higher, making Virginia the most educated state in the South.
Top Franchise Categories In Virginia
The opportunities to open a franchise in Virginia are vast and there’s plenty of room for success. Among the top franchise options are short-term property rentals, tourism, clothing, pet grooming, and home repair services.
Short-Term Property Rentals
The short-term rental industry is thriving, and the pandemic hasn’t diminished the demand for accommodations in picturesque locations. Now is the perfect opportunity to consider renting out that extra bedroom or transforming your old barn into guest quarters. No matter where you are in Virginia, you can start a short-term property rental business right at your location! Just remember to review state and local tax and zoning regulations before listing your property on popular platforms.
Tourism
Virginia is home to numerous tourist attractions, from Colonial Williamsburg to the sites within the Washington, D.C. area, as well as Civil War battlefields. Tourism is a multi-billion dollar industry here, so why not open a franchise in tourism? Excellent business opportunities in Virginia could involve offering personalized tours to visitors, tailored to your interests, location, and expertise.
Clothing
Virginia boasts numerous vintage and resale shops, featuring clothing that spans hundreds of years. One of the best business opportunities in the state could be starting a unique clothing store. You can opt for a physical storefront or choose to sell exclusively online.
Pet Grooming
There’s no question that people adore their pets. In 2021, Americans spent hundreds of thousands of dollars on grooming alone, and this spending is projected to grow in the coming years. If you’re a dog enthusiast, open a franchise in pet services. Keep in mind that operating a pet grooming shop in Virginia requires a license, and there could be additional educational requirements.
Home Repair Services
Virginia is an ideal spot to open a franchise in home repair services. The state’s home improvement and renovation market offers promising opportunities, particularly in Chester and Virginia Beach, where homeowners often seek top-notch painting and home improvement services.
Open A Preservan Franchise In Virginia
If you are ready to start your entrepreneurship journey in the Old Dominion State, start today with Preservan. Our successful & proven business model is allowing our franchisees to reach their entrepreneurial goals, and we know we can help you hit your goals as well. The Preservan franchise provides the best of both worlds, combining all the advantages of a traditional franchise with the opportunity to make a meaningful impact on the community and the planet.
Now is the perfect time to invest in a Preservan franchise in Virginia! Before you begin your goal to open a franchise, find out if you’re qualified with a quick evaluation. If you have any questions or concerns, contact us to learn more about franchise opportunities. Our team is here to assist you in every step of your entrepreneurial journey!
Contact Preservan
Contact Preservan today to learn more about how to open a franchise in Virginia.
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