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Five Things to Know About Franchise Opportunities in Texas

17 / 06 / 2022

The economic climate of our country may be flexible as an Olympic gymnast, but states are now rebounding from the Coronavirus pandemic, with business and franchise opportunities in Texas among the most impressive. 

Forbes ranked Texas as the top state in the nation for its economy. There are multiple reasons for that, but everything is bigger in Texas except for its business and franchise costs, 11.5% below the national average

There is a mass exodus of potential business owners leaving their states for the Lone Star State. Business is booming there, but before you rush out the door to start your business, there are some interesting things you need to know about franchise opportunities in Texas

 

There are 62,000 Franchises in Texas

That is 62,000 sources of inspiration to come to Texas for your business. According to the International Franchise Association, those franchises have created close to 636,000 jobs and $21.6 billion of economic growth. 

It may be a little simplification, but those numbers give the impression that franchises in Texas have a fantastic opportunity to be successful. Consumers would agree, as would local politicians who have seen the red line widen in their fair burgh. Voters are big fans of franchises there as well. 

The IFA shared that 79% of voters have a favorable view of the family-owned franchise businesses in their neighborhood. Also, 70% of those same voters said those franchise businesses are a “part of their everyday life.” If you own one of the many growing franchise opportunities in Texas, another finding is that your neighborhood will support you for it; at least 68% of the community believes in locally owned businesses as the benefactors of the city. 

Most of the Top Franchises in Texas Require Trades

At Teaberry Painting, we admit that this note is one of our favorites. From cleaning services and interior decorating to auto repair and wellness, it can become the beginning of a new business and a new life if you have a hard skill that you use as a side hustle. Among the top franchise opportunities in Texas are home services, including exterior or interior painting. 

An appealing note about the home services industry and those franchise opportunities in Texas is that they provide skilled business owners new chances at success. Furthermore, they open the doors for skilled workers a moment to become a first-time business owner. There is high demand for homeowners to make their place a better investment, which creates substantial growth in the industry for new and veteran franchise owners. 

Getting involved in a new franchise involves meaningful and transparent conversations about franchise costs, business growth, and connections to potential consumers. If there is a business or franchise that offers low margins and high profit, you would be interested. Calling Teaberry Painting and we could make that interest into something more meaningful. 

Texas communities support local businesses

The backbone of the state economy is made of small businesses across Texas. The U.S. Small Business Administration Office of Advocacy says 99.8% of all businesses in the state are “small businesses,” which are companies or franchises that range from $1 to $40 million in revenue and 100 to 1,500 employees. 

What’s impressive about those businesses across the Lone Star State is their diversity: 

  • 43.2% of small business owners are women
  • 6.7% of those are Veterans
  • 29.4% of Texas small business owners are Hispanic 
  • 20.4% of those owners are BIPOC

If you are searching for franchise opportunities in Texas, diversity is welcome both in its workforce and owners. Look for head starts where you can like a notable brand, immediate community impact, and direct leadership from franchisors. Speaking of diversity and headstarts, the Teaberry Painting Franchise is veteran-owned and has a low buy-in to get started. 

Locations for Franchises in Texas are Plentiful

If you have franchise costs in savings and are ready to pull the trigger on your future, think about where you want to live in the state. 

Are you interested in major markets like Dallas and Houston? Those are financial hubs in Texas and are homes to more than 20 FORTUNE 500 companies each. If you are searching for more settled money and people, Fort Worth, Irving (really, its established Las Colinas district), and Midland. Maybe you want younger consumers for your franchise investment? Check out Frisco and Plano, both thriving suburbs of Dallas. 

If you want more of a sports entertainment appeal for franchise opportunities in Texas, there’s Arlington–home of the Dallas Cowboys. Do you want close proximity to the new technology beacon in the state? Go to Austin like Elon Musk and Jeff Bezos already have. 

What is most appealing among all those cities is every city is growing in homeowners. Those houses, condominiums, and apartments are full of people who get tired of looking the same walls and could be interested in a professional who knows a thing or two about painting. That’s where Teaberry Painting comes in to save the day. Does it sound like you’re going to do business in Texas? Give Teaberry a call and we can help color your future.