1851

This month, 1851 is taking an in-depth look at&nbsp;<a href="https://alec.org/publication/rich-states-poor-states-16th-edition/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=what-vermonts-economic-outlook-means-for-franchisors-2723015" target="_blank" rel="nofollow">ALEC-Laffer’s 16th annual “Rich States, Poor States” Economic Competitiveness Index</a> and how it can be useful to franchisors as they expand their footprints. The report ranks all 50 states based on two criteria: 1) Economic Outlook, a state’s current standing in 15 state policy variables; 2) Economic Performance, a retrospective measure based on a state’s performance over the past 10 years.For the state of Vermont, these rankings reveal a lot about where the state economy is going and where there is opportunity for their economy to grow.&nbsp;<ul><li>2023 Economic Outlook Ranking: 49</li><li>2023 Economic Performance Ranking: 41</li></ul><h3>The State</h3>The northern tri-state region of New England saw&nbsp;<a href="https://economics.td.com/state-economic-forecast?utm_source=1851franchise.com&utm_medium=article&utm_campaign=what-vermonts-economic-outlook-means-for-franchisors-2723015" target="_blank" rel="nofollow">below-average economic growth</a> in the first half of last year, but has since grown at or slightly above the national average. In 2023, it is expected that Vermont will grow by 1.2%.Vermont’s employment has been positive (up 0.2%), though below average, over the past three months to June. The state’s labor force is also up 0.6%, while its unemployment is down 0.9 percentage points to 2.1%. In 2023, Vermont is expected to see an uptick in unemployment rates as economic growth slows, at 2.5%. Leisure and hospitality job growth has increased sharply as the summer travel season kicked off, which in addition to strong job gains from the government has supported the state's job growth this year.Meanwhile,&nbsp;<a href="https://worldpopulationreview.com/states/vermont-population?utm_source=1851franchise.com&utm_medium=article&utm_campaign=what-vermonts-economic-outlook-means-for-franchisors-2723015" target="_blank" rel="nofollow">Vermont is the 45th largest</a> in the country by area and the 49th largest by population. The only state with fewer people is Wyoming. The state’s population has seen a slight decline over the past few years and is currently shrinking at .12% per year.<h3>Making Sense of the Data</h3>What does this mean for Vermont’s economy? To start with the Economic Performance report, the index shows that within the past 10 years, Vermont has been outperformed by 40 other state economies.&nbsp;The performance index is based broadly on a state’s performance within state gross domestic product (GDP), absolute domestic migration and non-farm payroll employment. Vermont has seen an absolute domestic migration of -6,152, ranking it 23rd in the country.&nbsp;The Economic Outlook tells another story about Vermont’s economy. The ranking is based on a state’s current standing in 15 state policy variables. Each of these factors, ranging from sales tax burden to state minimum wage, is influenced directly by state lawmakers through the legislative process. In this ranking, Vermont appears at No. 49, with a top marginal personal income tax rate of 8.75% and a top marginal corporate income tax rate of 8.5%.The report indicates that, generally speaking, states that spend and tax less experience higher growth rates than states that spend and tax more. While this is an important finding for entrepreneurs looking to start their own businesses, it shouldn’t discourage them from investing in their dream franchises if they're in a market with a slower growth rate.&nbsp;<h3>Franchise Growth Plans</h3>So what should franchisors do with this information? When it comes to deciding where franchisors should develop their brand, it’s always important to look at the complete picture of what the region has to offer. Though most franchisors take a shotgun approach — meaning wherever a prospect franchisee inquires, the franchisor will typically entertain that marketplace — the strategy of looking at these overall policies can help them scale their business at a more efficient rate. With that said, findings within the report should not be the deciding measure for franchisors, but they should play a role in the decision.&nbsp;<h3><a href="https://1851franchise.com/twomenandatruck">TWO MEN AND A TRUCK*</a><a href="https://franchise.twomenandatruck.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=what-vermonts-economic-outlook-means-for-franchisors-2723015" target="_blank" rel="nofollow">®</a></h3><ul><li>Current units in state: 1</li><li>Growth capacity in state: N/A</li><li>Total jobs created at max growth capacity: 1-22 per location</li><li>Total unit count: 400+</li><li>Investment range: $105,500 to $435,600</li></ul><a href="https://franchise.twomenandatruck.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=what-vermonts-economic-outlook-means-for-franchisors-2723015" target="_blank" rel="nofollow">TWO MEN AND A TRUCK®</a>, the national, full-service franchised moving company, noted it was targeting Vermont in 2023.&nbsp;<h3><a href="https://1851franchise.com/freshcoat">Fresh Coat*</a></h3><ul><li>Current units in state: 0</li><li>Growth capacity in state: N/A&nbsp;</li><li>Total jobs created at max growth capacity:&nbsp; N/A</li><li>Total unit count: 170+</li><li>Investment range: $53,945-$76,845&nbsp;</li></ul>The Fresh Coat team has identified several markets primed for franchise growth, including Vermont.<h3>Franchise Brands Headquartered in Vermont:</h3><ul><li><a href="https://www.beansandbrews.com/franchise/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=what-vermonts-economic-outlook-means-for-franchisors-2723015" target="_blank" rel="nofollow">Beans &amp; Brews</a></li><li><a href="https://www.brueggers.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=what-vermonts-economic-outlook-means-for-franchisors-2723015" target="_blank" rel="nofollow">Bruegger's Franchise Corporation</a></li></ul>

What Vermont’s Economic Outlook Means for Franchisors

Vermont's Economic Outlook | Franchise Opportunities | 1851 Franchise

1851 Franchise

If you’re a franchisor looking to develop your business in Vermont, you’ll want to consider the state’s policy variables and growth rates when scaling your plans.

what-vermonts-economic-outlook-means-for-franchisors

Mellow Mushroom

Mellow Mushroom Ranks No. 1 in Customer Experience and Customer Loyalty Among Pizza Chains in MarketForce Casual Dining Report

mellow-mushroom-market-force-report-2025

Benjamin Franklin Plumbing

Benjamin Franklin Plumbing - Jeff Hunter - Franchisee Feature - 1851 Franchise

Air Force Veteran Jeff Hunter Trades Corporate Life for a Successful Franchise Future with Benjamin Franklin Plumbing

benjamin-franklin-plumbing-franchise

Comfort Keepers

From Coast to Heartland: Why One Comfort Keepers® Franchisee Keeps Expanding

from-coast-to-heartland-why-one-comfort-keepers-franchisee-keeps-expanding

Filta Environmental Kitchen Solutions

Filta Franchise - David Hoover Franchisee Feature - 1851 Franchise

From Stadiums to Sustainability: How David Hoover Is Scaling Impact With Filta

filta-franchise-david-hoover-scaling-impact

TruBlue Home Service Ally

Be a Community Hero: How TruBlue Franchisees Are Changing Lives Beyond Business

be-a-community-hero-how-trublue-franchisees-are-changing-lives-beyond-business

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

How a Steady Economy Could Help Franchisors Plan Their Next Move

how-a-steady-economy-could-help-franchisors-plan-their-next-move

Bed Bath & Beyond - Franchise Expansion - Retail Strategy - 1851 Franchise

Bed Bath & Beyond Launches Franchise Model as Part of Comeback Strategy

bed-bath-beyond-franchise-expansion-retail-strategy

Senior Entrepreneurship - Franchising - 1851 Franchise

Senior Entrepreneurship Is Rising — And Franchising Is a Key Outlet

senior-entrepreneurship-franchising-silver-startups

U.S. Government Shutdown - Impact on Franchises - 1851 Franchise

Government Shutdown Stalls SBA Loans: How the Shutdown Could Impact Franchises

government-shutdown-impacts-sba-loans-tourism-franchises

Subway Franchisees Resist Expensive Remodel Directives

subway-franchisees-resist-expensive-remodel-directives

Power Eats: Smoothie King Rolls Out Food Nationwide To Fuel Franchise Growth

smoothie-king-food-menu-power-eats

NJCAR v. Ford - New Jersey Supreme Court Limits Standing Under Franchise Practices Act

New Jersey Supreme Court Limits Standing Under Franchise Practices Act

new-jersey-franchise-practices-act-njcar-v-ford

Friendly’s Parent Company Acquired by Multi-Unit Franchisee as More Owners Take the Lead in Brand Acquisitions 

friendlys-parent-company-acquired-by-multi-unit-franchisee-as-more-owners-take-the-lead-in-brand-acquisitions

Top Early Childhood Education and Child Care Franchises for 2025 - 1851 Franchise

Top Early Childhood Education and Child Care Franchises for 2025

early-childhood-education-child-care-franchises

Top Education Franchises To Consider for 2025 - 1851 Franchise

Top Education Franchises To Consider Investing In for 2025

top-education-franchises-investment-opportunities

1851 Franchisee Spotlight graphic with photo of Barb Volk and KidStrong logo

Why This Orangetheory Fitness Franchise Owner Is Developing KidStrong Franchises

kidstrong-franchise-owner-barb-volk-2025

image of franchise deep dive from 1851 franchise on doody calls franchise authority brands

DoodyCalls Franchise Costs, Fees, Profit and Data for 2025

doodycalls-franchise-deep-dive

What Vermont’s Economic Outlook Means for Franchisors

MORE STORIES LIKE THIS