Market Research Report
Based on the parameters below, we project this business would break even in 2.0 years with a net present value of $216,924.
Net Cash Flow over 5 years
|Year 0||Year 1||Year 2||Year 3||Year 4||Year 5|
|Net Operating Profits||$31,742||$47,614||$63,485||$66,319||$69,280|
|Net Cash Flow||-$64,120||$31,742||$47,614||$63,485||$66,319||$277,121|
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 West Palm Beach.
- median income
- gross rent
- population density
- November temperature
- July temperature
- May temperature
- land area
- household size
- February temperature
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 Off Pressure Cleaning
Serving the West Palm Beach Area.
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About West Palm Beach and its Consumers
West Palm Beach is a city in and the county seat of Palm Beach County, Florida, United States. The population was 101,043 at the 2010 census. It is the oldest large municipality in the South Florida metropolitan area, having been incorporated as a city two years before Miami. According to the United States Census Bureau, this city has a total area of 58.2 square miles (151 km2). 55.1 square miles (143 km2) of it is land and 3.1 square miles (8.0 km2) of it (5.26%) is water. Due to vast areas of swampland immediately to the west of the city's downtown, growth occurred to the north and south in a linear fashion. Until the 1960s, the city was no more than several blocks wide but over 100 blocks in length. Large scale development finally occurred to the west of the city with improved access and drainage in the 1960s. However, the city boundaries were not expanded much with the exception of the "Water Catchment Area", an uninhabited area in the northwest part of the city that serves as a reservoir for the city drinking
West Palm Beach is a city in and the county seat of Palm Beach County, Florida, United States. The population was 101,043 at the 2010 census. It is the oldest large municipality in the South Florida metropolitan area, having been incorporated as a city two years before Miami. According to the United States Census Bureau, this city has a total area of 58.2 square miles (151 km2). 55.1 square...description source
Population Population (2012) 101,903 Population Density 1,842 ppl/sq mi Population Growth Rate 2.0% Median Income $46,380 Median Age 38.8 Unemployment 7.2% Family Household Percent 53.8% Avg. Household Size 2.3 Avg. House Price $161,800 Foreign Born 27.1% Married 38.7% Cost of Living 53.0%
Demographics White 40.3% Hispanic / Latino 24.8% Black / African American 31.2% Asian 2.2% Native American 0.06%
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.