The Essential Guide to Buying A Business in Florida
20 Hot Sectors and Powerful Trends
Buying A Business in Florida
Florida Advantages for Business Owners
Buying a business in Florida can be an attractive opportunity for start-up entrepreneurs and industry veterans alike. Florida business owners enjoy a variety of climate, demographic and tax advantages unique to the Sunshine State. The strength of the state economy, pro-business government policies, and favorable in-migration patterns are just some of the advantages of owning a business in Florida.
Florida Trends Benefiting Business Owners
Owning a Florida business offers you the opportunity to capitalize on some of the most dramatic trends in shifting wealth and population in the United States today. While Florida has always been a magnet for tourism and retirees, those two segments were often defined by their transience and frugality. In sharp contrast, today's new Florida arrivals are characterized by their permanence and wealth. In the 50 State Battle for residents and their money, Florida is again the clear winner, attracting over $31 billion in Adjusted Gross Income in a single year.
Florida Growth Opportunities for Business Owners
With these new Florida residents staying longer and spending more, buying a Florida business gives you the opportunity to tap into some of the wealthiest cities in Florida, the United States, and the world. These positive demographic shifts are creating tremendous growth opportunities across a variety of business and consumer-oriented service sectors of the Florida economy. From roads to rails and seaports to launchpads, Florida's world-class infrastructure is facilitating these opportunities for the companies and workers that increasingly choose to call Florida home.
Buying an Existing Business in Florida
Buying an existing business in Florida offers the additional advantages of acquiring a proven business model with demonstrated cash flow, established procedures, and a loyal customer base. The turnkey nature of buying an established Florida business makes these acquisitions equally appealing for both locals as well as business owners relocating to Florida from other states and other countries. Buying an established business in Florida can flatten the learning curve, offset relocation challenges, and allow you to hit the ground (or beach) running.
Florida Trends Empowering Business Owners
Florida Economic Advantages for Business Owners
Florida's economy is one of the largest and strongest in the United States. Economic expansion across sectors, rising consumer confidence, and record low unemployment are a potent combination attracting more Fortune 500 companies, small businesses and start-ups to launch or expand their operations in Florida.
Florida Climate Advantages for Business Owners
The warm weather and beaches of the Sunshine State serve as a magnet for millions of Americans and foreign visitors alike. Equally important for business owners is the pro-business climate evident with state government policies like no state income tax, as well as hundreds of active Chamber and industry organizations throughout Florida.
Florida Wealth Advantages for Business Owners
Florida has been the biggest beneficiary of the punitive high-tax policies enacted in other states. Florida now ranks as the #1 destination of choice for residents and billions in taxable income leaving other states. As one annual report summarized, "Florida is once again the biggest winner of people and money." (Wirepoints)
Florida Geographic Advantages for Business Owners
Florida is blessed with good geographic genes and world-class infrastructure to expedite shipments up the East Coast, across the United States or around the world. Florida is centrally positioned to benefit from the new USMCA, the Panama Canal expansion, and the growing number of bilateral trade deals being negotiated with American allies in Europe and Latin America.
Florida Tourism Advantages for Business Owners
Florida attracts over 100 million domestic and international visitors each year. In addition to year-round residents, owning a business in Florida gives you the opportunity to serve tourists coming to Florida for family vacations, corporate meetings, golf getaways, major sporting events and destination weddings.
Benefits of Buying an Existing Business in Florida
Actual Operating Results
Seeing is believing. Buying an existing business in Florida can give you more transparency in the due diligence process by seeing and verifying several years of actual operating results of a target business.
Immediate Cash Flow
Instant gratification. Buying an existing business in Florida allows you to ability to realize immediate cash flow from Day One of owning and operating your new Florida venture.
Trained Employees
We got your back. Buying a business in Florida can give you the advantage of having a skilled and well-trained workforce who know your business inside and out.
Established Customers
Tried and true. Buying an existing business in Florida can give you the luxury of inheriting a large, loyal customer base who have been relying on your company for years.
Established Suppliers
Just in time. Buying a business in Florida can simplify your supply chain with established credit terms from vendors who already know and trust your business.
Existing Licences
You're approved. Buying an existing business in Florida allows you to hit the ground running with all necessary permits and licenses needed to legally operate your new business.
Seller Training
Learn from the best. Buy a business in Florida and benefit from the previous owner's knowledge and training to set you on the path for continued success.
20 Popular Florida Business Sectors
Based on the trends outlined above, here are 20 of the most attractive sectors for business buyers in Florida today.
