Market Research Report
Based on the parameters below, we project this business would break even in 2.2 years with a net present value of $393,307.
Net Cash Flow over 5 years
|Year 0||Year 1||Year 2||Year 3||Year 4||Year 5|
|Net Operating Profits||$59,324||$88,985||$118,647||$123,944||$129,478|
|Net Cash Flow||-$131,935||$59,324||$88,985||$118,647||$123,944||$517,912|
Startup costs are estimated as the larger of PYE and median income multiplied by the cost of living in the city. The positive cash flows in years 1 to 5 are estimated from the PYE. The first year is discounted by 50%, the second year is discounted by 75%, the fourth through tenth years are inflated according to a growth rate estimated from the GDP growth rate of the state. The profit margin is defaulted 10%. In year 5 a “terminal value” equal to the year 5 net operating income times three is added. The hurdle rate is defaulted to 15%. All values are net of taxes.
How is this opportunity calculated?
The following ten market factors are the most important determinants used to calculate the need for businesses of this type in Miramar.
- median income
- gross rent
- population density
- November temperature
- July temperature
- household size
- May temperature
- family households
- February temperature
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About Miramar and its Consumers
Miramar is a city in Broward County, Florida, United States. The city was named after the Miramar district of Havana, Cuba. As of the 2010 census, the population was 122,041. It is part of the South Florida metropolitan area, which was home to 5,564,635 people at the 2010 census. The city's official motto is "Beauty and Progress", updated from the earlier "The Center of Everything". According to the United States Census Bureau, the city has a total area of 31.3 square miles (81.0 km2). 29.5 square miles (76.5 km2) of it is land and 1.8 square miles (4.6 km2) of it (5.66%) is water. As of 2010, there were 40,294 households, with 7.1% being vacant. As of 2000, 48.2% had children under the age of 18 living with them, 56.0% were married couples living together, 19.1% had a female householder with no husband present, and 19.1% were non-families. 14.3% of all households were made up of individuals and 3.3% had someone living alone who was 65 years of age or older. The average household size was 3.15 and the average family size was 3.48.
Miramar is a city in Broward County, Florida, United States. The city was named after the Miramar district of Havana, Cuba. As of the 2010 census, the population was 122,041. It is part of the South Florida metropolitan area, which was home to 5,564,635 people at the 2010 census. The city's official motto is "Beauty and Progress", updated from the earlier "The Center of...description source
Population Population (2012) 128,729 Population Density 4,360 ppl/sq mi Population Growth Rate 5.5% Median Income $60,851 Median Age 33.5 Unemployment 6.0% Family Household Percent 82.1% Avg. Household Size 3.3 Avg. House Price $172,200 Foreign Born 35.0% Married 37.0% Cost of Living 58.3%
Demographics White 11.6% Hispanic / Latino 36.9% Black / African American 43.5% Asian 5.1% Native American 0.1%
Market & Regulatory Conditions For Florida
Third parties rate Florida's business and regulatory conditions according to their own methods. We report them here for informational purposes.
Small-Business Friendliness Overall small business friendliness C Ease of starting a small business C Cost of hiring a new employee C Overall regulatory friendliness B- Friendliness of health and safety regulations C+ Friendliness of employment, labor, and hiring regulations B- Friendliness of tax code B+ Friendliness of licensing regulations C+ Friendliness of environmental regulations C+ Friendliness of zoning regulations C+ Publicity of training programs C Publicity of networking programs C+ Current economic health of small business 34th/50 Change in revenue over past 12 months 35th/50 Forecast of small business's future economic health 23th/50Source: Thumbtack.com (2012)
Business Friendliness Overall Business Friendliness 20th/50 Cost of Doing Business 37th/50 Economy 11th/50 Infrastructure 27th/50 Workforce 3th/50 Quality of life 28th/50 Technology and innovation 12th/50 Business friendliness 35th/50 Education 38th/50 Cost of living 31th/50 Access to capital 7th/50Source: CNBC (2014)
Tax Friendliness Florida Corporate Tax Rate 6.0% Avg Local Corporate Tax Rate in Florida 0.6% Avg Combined Corporate Tax Rate 6.6% Overall tax friendliness 5th/50 Corporate tax rank 14th/50 Individual income tax rank 1th/50 Sales tax rank 12th/50 Unemployment insurance tax rank 3th/50 Property tax rank 16th/50Source: Tax Foundation (2015)
Resources to Get Started
Now that you have a potential location and idea for your business, here is a list of helpful resources you may need to get started.