Market Research Report
Based on the parameters below, we project this business would break even in 2.6 years with a net present value of $157,385.
Net Cash Flow over 5 years
|Year 0||Year 1||Year 2||Year 3||Year 4||Year 5|
|Net Operating Profits||$25,145||$37,717||$50,289||$52,535||$54,880|
|Net Cash Flow||-$65,242||$25,145||$37,717||$50,289||$52,535||$219,520|
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 Coral Springs.
- median income
- July temperature
- August temperature
- gross rent
- population density
- February temperature
- house price
- business activity
- December temperature
- April temperature
Accounting firms or individuals that provide accounting, tax filing, or related financial services to clients.
9549 Westview Dr Coral Springs, FL 33076
1340 Coral Ridge Dr Coral Springs, FL 33071
8266 Wiles Rd Coral Springs, FL 33067
TIP: Your market is dominated by national chains. Consider entering the market with an independant business or a regional franchise.
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About Coral Springs and its Consumers
Chartered in 1963, Coral Springs is a city on Florida's southern Atlantic coast, located in northeastern Broward County. Coral Springs is thirty minutes northwest of Fort Lauderdale, twenty minutes northwest of Pompano Beach, and fifty minutes northwest of Miami. Coral Springs is only thirty minutes from the Fort Lauderdale-Hollywood International Airport and thirty-five minutes from Port Everglades, the second busiest cruise port in the world. Major highways in and around Coral Springs include: the Florida Turnpike and the Sawgrass Expressway. Many of Coral Springs schools have received the "Five Star School Award" from the Florida Department of Education as schools that have shown evidence of exemplary community involvement. Coral Springs also has over fifty regional and community parks throughout the city for recreation and leisure. Many park facilities have an extensive array of sports facilities, including aquatics, soccer, baseball, softball, football, basketball, tennis, golf, volleyball, lacrosse, horseshoes, and bocci ball. In addition, many of the Coral Springs parks also provide passive areas and natural settings for more leisurely recreation.
Chartered in 1963, Coral Springs is a city on Florida's southern Atlantic coast, located in northeastern Broward County. Coral Springs is thirty minutes northwest of Fort Lauderdale, twenty minutes northwest of Pompano Beach, and fifty minutes northwest of Miami. Coral Springs is only thirty minutes from the Fort Lauderdale-Hollywood International Airport and thirty-five minutes from Port...description source
Population Population (2012) 125,287 Population Density 5,265 ppl/sq mi Population Growth Rate 3.5% Median Income $57,839 Median Age 37.0 Unemployment 5.8% Family Household Percent 77.6% Avg. Household Size 2.9 Avg. House Price $250,900 Foreign Born 26.6% Married 32.6% Cost of Living 59.2%
Demographics White 50.1% Hispanic / Latino 21.0% Black / African American 20.5% Asian 4.8% Native American 0.4%
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.