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Starting a Small Business in Maryland

Welcome to the Small Business Startup Maryland Franchise Directory! Here, you'll find everything you need to begin your journey to business ownership in the Old Line State. If you're considering starting a small business in Maryland, read on for an overview of the state economy. Afterward, explore business opportunities and franchises for sale with our Maryland Franchise Search Tool.

Maryland Industry Trends

If an industry is performing well, business opportunities within it are often worth exploring. Begin your market research with this list of the Maryland economy's most prominent industries in 2022. Afterward, take your research one step further by investigating niche markets and B2B opportunities within one of these top revenue-generating industries.

IT Consulting (Revenue: $29.1 billion)
New Car Dealers (Revenue: $24.1 billion)
Hospitals (Revenue: $22.5 billion)
Public Schools (Revenue: $21.3 billion)
Drug, Cosmetic & Toiletry Wholesaling (Revenue: $20.5 billion)
Supermarkets & Grocery Stores (Revenue: $18.5 billion)
Colleges & Universities (Revenue: $17.6 billion)
Specialist Doctors (Revenue: $17.1 billion)
Health & Medical Insurance (Revenue: $16.1 billion)
Real Estate Loans & Collateralized Debt (Revenue: $14.2 billion)

Maryland Sector Statistics

When starting a small business in Maryland, gross domestic product (GDP) is another tool entrepreneurs can use to make investment decisions. Generally, a steadily rising GDP means people are spending more money and creating more jobs.

The three sectors contributing most to Maryland's GDP in 2022 were Real Estate, Rentals & Leasing; Professional, Scientific & Technical Services; and Healthcare & Social Assistance. Combined, these three sectors represented 42.2% of the state's GDP. In 2022, the sectors that contributed most to Maryland's GDP included:

Real Estate, Rentals & Leasing (Value: $50.6 billion* | Annual growth: -2.1%)
Professional, Scientific & Technical Services (Value: $44.2 billion* | Annual growth: 3.4%)
Healthcare & Social Assistance (Value: $28.3 billion* | Annual growth: 1.1%)
Manufacturing (Value: $24.8 billion* | Annual growth: 3.4%)
Retail Trade (Value: $18.5 billion* | Annual growth: -0.4%)
Finance & Insurance (Value: $18.1 billion* | Annual growth: 1.4%)
Information (Value: $17.8 billion* | Annual growth: 1.8%)
Construction (Value: $17.6 billion* | Annual growth: -0.6%)
Wholesale Trade (Value: $16.4 billion* | Annual growth: 0.7%)
Administration, Business Support & Waste Management Services (Value: $12.7 billion* | Annual growth: 5.8%)
Accommodation & Food Services (Value: $8.4 billion* | Annual growth: 1.4%)
Transportation & Warehousing (Value: $6.9 billion* | Annual growth: -1.7%)
Other Services (except Public Administration (Value: $6.7 billion* | Annual growth: -2.3%)
Management of Companies and Enterprises (Value: $5.9 billion* | Annual growth: 7.3%)
Utilities (Value: $5.7 billion* | Annual growth: -2.8%)

*Approximately

Maryland Population Statistics

A growing population often means greater demand and a steady flow of new customers. If you are undecided about the location of your new business, start by investigating population statistics. Afterward, take your research a step further by exploring population demographics. By doing so, you can decide whether a location is a good match for your target market.

In 2022, counties with the highest populations in Maryland included:

Montgomery (Population: 1.1 million | Annual growth rate*: 0.2%)
Prince George’s (Population: 908,400 | Annual growth rate*: -0.1%)
Baltimore (Population: 823,600 | Annual growth rate*: -0.2%)
Anne Arundel (Population: 589,800 | Annual growth rate*: 0.6%)
Baltimore City (Population: 570,800 | Annual growth rate*: -1.3%)
Howard (Population: 333,800 | Annual growth rate*: 0.8%)
Frederick (Population: 274,300 | Annual growth rate*: 1.7%)
Harford (Population: 259,600 | Annual growth rate*: 0.5%)
Carroll (Population: 169,800 | Annual growth rate*: 0.2%)
Charles (Population: 167,100 | Annual growth rate*: 0.8%)
Washington (Population: 151,600 | Annual growth rate*: 0.2%)
St. Mary’s (Population: 116,300 | Annual growth rate*: 0.7%)
Wicomico (Population: 104,600 | Annual growth rate*: 0.3%)
Cecil (Population: 104,000 | Annual growth rate*: 0.3%)
Calvert (Population: 94,000 | Annual growth rate*: 0.5%)
Allegany (Population: 69,200 | Annual growth rate*: -0.6%)
Worcester (Population: 52,800 | Annual growth rate*: 0.4%)
Queen Anne’s (Population: 52,200 | Annual growth rate*: 1.0%)
Talbot (Population: 36,800 | Annual growth rate*: -0.2%)
Caroline (Population: 33,700 | Annual growth rate*: 0.3%)

*From 2017 to 2022.

Maryland Business Opportunities

We hope this snapshot of the Maryland economy helps as you investigate business opportunities in the Old Line State! Starting a small business in Maryland is an exciting journey; we know you're probably eager to start. But remember, take your time to explore all your options. While you'll always have the "opportunity" to start your own business, sometimes, investing in an opportunity that already exists makes more sense. These are called "Franchise Opportunities," and they offer several benefits, including the recognition of a well-established brand and a proven track record of success.

To learn more, start by exploring franchise opportunities in Maryland below!

Explore Opportunities and Insights

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Glass Doctor

Glass Doctor, a Neighborly company, is the nation's leading glass repair and replacement services franchise. With us, your path to business ownership is crystal clear

$50,000 Min Cash Required

Minuteman Press

Own an Essential B2B Printing & Marketing Franchise with a proven business model, low inventory, work-life balance, great products & services that every business needs. No prior experience is needed. Be part of the modern printing industry.

$50,000 Min Cash Required

SiteSwan

Start your own web design business with SiteSwan. Create & sell websites to small businesses in your area with our easy-to-use, private label website builder. Set your own prices - keep 100 of the sales. Our turnkey platform is designed for anyone looking to sell websites to small businesses - no experience needed.

$199 Min Cash Required

CartCapital - Subscription Based E-Commerce Store

Did you know you could partner with a company to build out your entire e-commerce store, from product research to inventory acquisition to marketing? Yep You can easily make 6-7 figures in passive income when we build your e-commerce empire and money-making machine from the ground up All it takes is an upfront investment, and our team will do the rest. By this time next year, you could be sitting on a 7 figure empire. Request more information now

$40,000 Min Cash Required

The Learning Experience

Make a positive difference in the lives of children, families & communities With 500+ sites open or under development, The Learning Experience (TLE) has become one of the nations fastest growing child care franchise organizations. TLE is one of the fastest growing early childhood education franchisors in the U.S. and the leading brand-focused player in the industry. Pioneering investments in technology keep TLE at the forefront of innovation in the industry. Inquire to learn more today.

$150,000 Min Cash Required

Automated Investments

Automated Investments is the pillar of e-Commerce automation. Automated Investments build and operate profitable and hands off Amazon FBA (Fulfilled-By-Amazon) businesses for their clients and investors. While the clients and investors act as the capital partners, Automated Investments works tirelessly behind the scenes as the operation partners providing 20-50 monthly ROI. Automated Investments handles the Amazon store creation, product research, product purchasing, Amazon FBA product prep, shipping the inventory to your Amazon FBA store, full complete custom support and ongoing management. We lift our fingers so you dont have to.

Starting a Small Business in Maryland