- 05 Apr
Why Now is the Time to Start a Franchise in Columbus
According to VentureOhio’s 2017 Venture Report, there are currently more funding dollars generating through Ohio than ever before by virtue of the capital, Columbus city. Since 2013, nearly $1 billion in new capital has been raised by Ohio-based ventures.
Over 70 percent of those dollars were raised by Columbus-based investors. Many Columbus based-investors direct their efforts and dollars into the city’s economy, businesses, and overall quality of life. Consequently, Columbus is now the top U.S. metro city for young companies progressing into sizable employers enabling large amounts of money to flow not only through the city but the state as well positioning itself as one of the top places to start a franchise.
Tools and Resources
As Columbus entrepreneurial efforts expand, so do the tools and training to fuel and guide its growth.
Companies are not only investing dollars into startup companies, they are building relationships and mentorships to guarantee the companies first-year success.
Because Columbus is so innovative concentrated, it is home to several powerful research organizations such as Ohio State University, Nationwide Children’s Hospital, and Ohio Health.
Columbus Quality of Life
The cost of living in Central Ohio is 5 percent lower than the national average, making living and working in the Columbus Region affordable.
Columbus consistently leads major cities in business environment and overall environmental quality.
Below are some recognitions Columbus as received over the last 3 years:
- #1 Startup City in America
- Number ONE Opportunity City Forbes
- One of Top 6 “American Dream Cities”
- One of the 6 Best Big Cities Time Money Magazine
Low Business Cost Higher Chances to Grow
With major industries in technology, insurances and education, Columbus is currently listed as one of the top places for businesses and careers by Forbes.
In comparison to traditional entrepreneurial cities such as Boston, New York City, and Silicon Valley, the Columbus Region, and Ohio as a whole, offers significantly lower operating costs for businesses.
The city offers a large quantity of loan programs, partnered with nonprofit lending organizations that have provided more than 7.7 million in total funding to 26 businesses in 2016 alone.
Columbus possess a culture of accountability. Natives encourage each other to purchase, sell, and invest from within. Innovative spirits and progressive minds coherently thrive every day to establish Columbus as the Mecca for business in the nation, which is why now is the time to start a franchise in Columbus, OH.
Interested in learning more about purchasing an OpenWorks franchise? Check out our franchise opportunities here.