The first settler was Moses Emery from Newbury, Massachusetts in 1772. At that time there were several Indians of the Anasagunticook tribe living in the immediate area. The surface of the town is uneven, in some parts hilly, but with good soil for agriculture, the principal early occupation. Mills were erected at various water power sites, and products included lumber, clapboards, shingles, boxes, shooks, barrel staves. There was also manufacturing in leather, particularly boots, shoes, saddles and harness. In 1842, land was set off to form Auburn, to which more land was ceded in 1873. Mechanic Falls, the industrial village astride the border with Poland, was set off in 1893. The population in 1859 was 1,734. Today, Minot is gradually transitioning into a bedroom community of the cities of Auburn and Lewiston.
The town is crossed by state routes 11, 119 and 124. It is bordered by the towns of Oxford and Hebron to the northwest, Turner to the north, Auburn to the east, and Poland to the south, and Mechanic Falls to the southwest.
There were 794 households out of which 41.6% had children under the age of 18 living with them, 69.6% were married couples living together, 7.2% had a female householder with no husband present, and 18.6% were non-families. 12.2% of all households were made up of individuals and 5.3% had someone living alone who was 65 years of age or older. The average household size was 2.82 and the average family size was 3.03.
In the town the population was spread out with 27.9% under the age of 18, 6.0% from 18 to 24, 34.1% from 25 to 44, 23.4% from 45 to 64, and 8.5% who were 65 years of age or older. The median age was 37 years. For every 100 females there were 99.6 males. For every 100 females age 18 and over, there were 99.3 males.
The median income for a household in the town was $47,557, and the median income for a family was $49,926. Males had a median income of $34,459 versus $25,417 for females. The per capita income for the town was $18,668. About 3.7% of families and 6.1% of the population were below the poverty line, including 5.2% of those under age 18 and 13.5% of those age 65 or over.