You might already know all about the natural beauty of Arkansas. The state is loaded with mountains, caves, rivers, and hot springs, thus consisting of some of the most breathtaking areas of natural wilderness in the United States. What you may not have heard much about, however, is the abundance of industry in the “Wonder State.” If you’re looking for a prime opportunity to start a business or buy into one of the many franchise opportunities in Arkansas, there are a few things you should know first.
Why Is Arkansas Great for Business?
It’s worth noting that the booming economy flowing throughout the state isn’t limited to one or two industries. Sure, Arkansas has plenty of great food and tourist attractions, but the state is home to the headquarters of Wal-Mart, and also has a large presence in the aerospace industry.
Little Rock, of course, is the biggest city in Arkansas; It’s the state’s capital and is bustling with museums, historical sites, and business activity.
Arkadelphia, for example, is conveniently located on Interstate 30, home to two excellent universities—Henderson State and Ouachita Baptist—and is home to a productive timber industry. There’s also the Festival of Two Rivers held every April, canoeing, and plenty of other activities that make this city a desirable place to live and do business.
Similar in size, Batesville has a rare combination of natural beauty and a closeness to larger cities. Batesville has a growing and supportive business community. It also has the distinction of being the oldest city in Arkansas, where business leaders have infused an entrepreneurial vibe with new restaurants and other retail establishments.
College students love Conway so much that when they attend one of the city’s three universities—the University of Central Arkansas, Hendrix College, and Central Baptist College—they stay there. The median age of Conway residents is around twenty-eight, meaning college graduates are staying in the city, buying homes, and starting a career or running a business. It’s no secret that young people like to spend money; thus, Conway seems like a great place to run your own business.
If you’re looking for an opportunity for growth, Fayetteville may be your choice. The city was recently named the fourth best place to live in the entire United States by the U.S. News and World Report. Any place that’s deemed to have such a high quality of life is primed for new business. As a result, Fayetteville could be your number-one destination for franchise opportunities in Arkansas.
Behind Little Rock and Fayetteville, Fort Smith is the third largest city in Arkansas, with a population of nearly 90,000 people. A revitalization effort is currently underway in this well-established area of the state. Cities and towns with officials pumping money into their communities, plus the tourism, offer great locations to run a business. Why not join the growth? If you see an insurance agency for sale in Arkansas or another business that looks like a good fit, you want to jump on it.
What Are Some Winning Franchises in Arkansas?
Of course, owning your own business can be tremendously rewarding and satisfying. At the same time, it can also be extremely risky and challenging to get operations up and running without any support or brand recognition. If you elect to buy into one of the many franchises for sale in Arkansas, you still get to be your own boss while getting the support, training, and reputation that comes with an existing product or service.
The food industry has a strong presence in just about every state, and Arkansas is no different. The barrier to entry here, however, can be a high initial startup cost. Tax services are another good choice for owning and running an existing business. That business is somewhat seasonal, as every business owner and employee is trying to get their forms filed for the tax deadline. Also, tax preparation isn’t for everybody. If you love numbers, go for it; Otherwise, you may want to look in another direction.
Is There an Untapped Market Opportunity?
Plenty of other opportunities for the entrepreneurial-minded exist. Whereas something like the food and beverage industry may be tapped out, there is still a high demand for insurance. There are many perks that come with owning an insurance agency, too. You don’t need prior knowledge and you don’t need a ton of investment capital.
When you pursue one of the right insurance franchises in Arkansas, you automatically gain access to the tools and support you need to win. Your success is their success, so the right company will ensure you have everything you need to acquire the necessary knowledge, onboard great talent, service the customer to an elite level, and make continuous profits quickly. Not only that, but you’ll also have the chance to expand. Franchisees who find their groove quickly in the insurance industry will have the ability to buy other locations all across Arkansas and perhaps, in many other states.
How Can You Soon Become a Successful Franchise Owner?
Before you jump into the first business that comes to your mind, look at all the factors that could lead to your success. Consider the items in this article and do extensive research about the best franchise opportunities in Arkansas. Write down your top three choices and start making phone calls. Listen to what each company has to say about the support and advantages of buying into their business and make your decision from there.
If you agree that the insurance industry is a prime opportunity and Arkansas is a great place to get started, call Freeway Franchise today at (877) 822-3024 or fill out our quick online form. One of our expertly trained and helpful representatives will contact you soon and get you started on your road to success!