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Nashville, TN – known as the “Music City” is economically stable and is fast growing. Healthcare is the city’s primary industry. Next to that are manufacturing, tourism, technology, automobile production, printing, and publishing.
Nashville is also home to franchise business opportunities. Many citizens from expensive cities and states move to Nashville because the city is known to provide affordability and cross-cut costs of living. An advantage if you also plan to start a business here with assistance from a franchise consultant.
During the Business Facilities annual state rankings report, Tennessee in general ranked top 5 for being the best business climate in the United States. On top of that, Tennessee is also entitled to be the 13th most friendly state in the US, according to the Forbes ranking system. Nashville, to be specific, ended as the 7th strong business city in the country in January 2020.
Since Tennessee is a tax-friendly state, so in Nashville. Starting 2021, the individual worker's income of $1, 250 and the joint income of $2, 500 will be exempted to pay tax. The economy is based on sales tax but still reasonable for business owners. As you start a franchise opportunity in Nashville, you will notice how the tax system here is different from other states.
Nashville City also boasts an affordable, lower than the average cost of living. Also, the total cost of running a business is 10% lower than the national average. Now is an excellent time to start a franchise business in Nashville. The city’s affordability, culture, and support increase the chances of business success. As a potential franchisee, you will experience being your own boss in Nashville.