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 $117,620.
Net Cash Flow over 5 years
|Year 0||Year 1||Year 2||Year 3||Year 4||Year 5|
|Net Operating Profits||$17,633||$26,450||$35,267||$36,841||$38,486|
|Net Cash Flow||-$38,503||$17,633||$26,450||$35,267||$36,841||$153,944|
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 Palm Bay.
- median income
- gross rent
- population density
- July temperature
- November temperature
- household size
- land area
- May temperature
- family households
Abrasive blast cleaning businesses can provide a range of services, from surface contaminant removal and cleaning, to the preparation and finishing of many different types of surfaces.
Blast-A-Way Pressure Cleaning
4425 kumquat st cocoa, FL 32926
Tropical Blast Pressure Washing
Serving the Palm Bay Area.
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About Palm Bay and its Consumers
The Florida city of Palm Bay is located in Brevard County, on the east Central Florida coast. The city is situated just 10 miles southwest of Melbourne, about 65 miles southeast of Orlando, and 180 miles north of Miami. Major highways near the city include Interstate I-95 and U.S. Route 192. Palm Bay's modern history traces back to 1959, when the Mackle brothers from Miami purchased land for a local residential project. Although the project had its stops and starts, it spurred the growth of industry and population in the area, leading to the incorporation of the city of Palm Bay in 1960. The city's first major industrial corporation, Radiation, Inc., later evolved into the Harris Corporation. Other industry soon followed, and the 1970's saw construction and expansion in the city. Palm Bay experienced enormous growth in the ensuing two decades, including the completion of a new municipal complex housing the city hall and police station. The city today continues to grow largely due to its proximity to the ocean and to other major areas of central and coastal Florida.
The Florida city of Palm Bay is located in Brevard County, on the east Central Florida coast. The city is situated just 10 miles southwest of Melbourne, about 65 miles southeast of Orlando, and 180 miles north of Miami. Major highways near the city include Interstate I-95 and U.S. Route 192. Palm Bay's modern history traces back to 1959, when the Mackle brothers from Miami purchased land for a...description source
Population Population (2012) 104,124 Population Density 1,584 ppl/sq mi Population Growth Rate 0.9% Median Income $43,020 Median Age 39.6 Unemployment 8.0% Family Household Percent 70.2% Avg. Household Size 2.6 Avg. House Price $96,000 Foreign Born 13.7% Married 25.6% Cost of Living 46.9%
Demographics White 63.9% Hispanic / Latino 14.1% Black / African American 17.0% Asian 1.7% Native American 0.3%
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.