Market Research Report

Accounting Firm opportunities in Elizabeth, NJ
$79,241 Potential Yearly Earnings What's this number?
$251,926 Net Present Value What's this number?

  Financial Projections

Based on the parameters below, we project this business would break even in 2.4 years with a net present value of $251,926.

Net Cash Flow over 5 years

Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Net Revenues $396,204 $594,306 $792,408 $820,096 $848,751
Net Costs $356,584 $534,875 $713,167 $738,086 $763,876
Net Operating Profits $39,620 $59,431 $79,241 $82,010 $84,875
Capital
      Startup Cost -$95,247
      Terminal Value $254,625
Net Cash Flow -$95,247 $39,620 $59,431 $79,241 $82,010 $339,500

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.

Financial Parameters

Change these parameters to customize your financial model

  Statistical Analysis
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 Elizabeth.

  1. median income
  2. July temperature
  3. August temperature
  4. gross rent
  5. population density
  6. business activity
  7. house price
  8. nearby population
  9. April temperature
  10. February temperature

  Competitors

Accounting firms or individuals that provide accounting, tax filing, or related financial services to clients.

H&R Block National Competitor
780 Newark Ave Elizabeth, NJ 07208

H&R Block National Competitor
Serving the Elizabeth Area.

Wyman Resources Inc Local Competitor
Linden, NJ 07036

  Suppliers & Service Providers Contact List

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  • Get business insurance for your venture
    Hiscox

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  About Elizabeth and its Consumers

200 200

Elizabeth is a city in Union County, New Jersey, United States. As of the 2010 United States Census, the city had a total population of 124,969,retaining its ranking as New Jersey's fourth largest city (by population).The population increased by 4,401 (+3.7%) from the 120,568 counted in the 2000 Census, which had in turn increased by 10,566 (+9.6%) from the 110,002 counted in the 1990 Census.It is the county seat of Union County. In 2008, Elizabeth was named one of "America's 50 Greenest Cities" by Popular Science magazine, the only city in New Jersey selected. Since World War II, Elizabeth has seen its transportation facilities grow; the Port Newark-Elizabeth Marine Terminal is one of the busiest ports in the world, as is Newark Liberty International Airport, parts of which are actually in Elizabeth. Elizabeth also features Little Jimmy's Italian Ices (since 1932), the popular Jersey Gardens outlet mall, Loews Theater, and the Elizabeth Center, which generate millions of dollars in revenue. Companies based in Elizabeth include New England Motor Freight.

Elizabeth is a city in Union County, New Jersey, United States. As of the 2010 United States Census, the city had a total population of 124,969,retaining its ranking as New Jersey's fourth largest city (by population).The population increased by 4,401 (+3.7%) from the 120,568 counted in the 2000 Census, which had in turn increased by 10,566 (+9.6%) from the 110,002 counted in the 1990 Census.It...

description source
  • Population
    Population (2012) 126,458
    Population Density 10,265 ppl/sq mi
    Population Growth Rate 1.2%
    Median Income $41,986
    Median Age 32.4
    Unemployment 11.5%
    Family Household Percent 70.5%
    Avg. Household Size 2.9
    Avg. House Price $270,400
    Foreign Born 45.7%
    Married 41.5%
    Cost of Living 63.0%
  • Average Temperature
    January 32.0°F 0.0°C
    February 32.0°F 0.0°C
    March 41.0°F 5.0°C
    April 51.0°F 10.6°C
    May 62.0°F 16.7°C
    June 71.0°F 21.7°C
    July 77.0°F 25.0°C
    August 75.0°F 23.9°C
    September 66.0°F 18.9°C
    October 57.0°F 13.9°C
    November 46.0°F 7.8°C
    December 35.0°F 1.7°C
  • Demographics
    White 14.5%
    Hispanic / Latino 63.0%
    Black / African American 17.3%
    Asian 2.5%
    Native American 0.0%

  Market & Regulatory Conditions For New Jersey

Third parties rate New Jersey's business and regulatory conditions according to their own methods. We report them here for informational purposes.

  • Small-Business Friendliness
    Overall small business friendliness D+
    Ease of starting a small business C-
    Cost of hiring a new employee B+
    Overall regulatory friendliness C
    Friendliness of health and safety regulations C+
    Friendliness of employment, labor, and hiring regulations B-
    Friendliness of tax code C+
    Friendliness of licensing regulations C
    Friendliness of environmental regulations D+
    Friendliness of zoning regulations D
    Publicity of training programs B+
    Publicity of networking programs C
    Current economic health of small business 38th/50
    Change in revenue over past 12 months 43th/50
    Forecast of small business's future economic health 43th/50
    Source: Thumbtack.com (2012)
  • Business Friendliness
    Overall Business Friendliness 43th/50
    Cost of Doing Business 43th/50
    Economy 47th/50
    Infrastructure 47th/50
    Workforce 23th/50
    Quality of life 18th/50
    Technology and innovation 15th/50
    Business friendliness 37th/50
    Education 4th/50
    Cost of living 44th/50
    Access to capital 11th/50
    Source: CNBC (2014)
  • Tax Friendliness
    New Jersey Corporate Tax Rate 7.0%
    Avg Local Corporate Tax Rate in New Jersey 0.0%
    Avg Combined Corporate Tax Rate 7.0%
    Overall tax friendliness 50th/50
    Corporate tax rank 41th/50
    Individual income tax rank 48th/50
    Sales tax rank 48th/50
    Unemployment insurance tax rank 32th/50
    Property tax rank 50th/50
    Source: Tax Foundation (2015)

  Suggested Cities & Businesses

The following cities have the highest PYE for Accounting Firm within 500 miles of Elizabeth based on a number of market characteristics. See More Results

The following businesse types have the highest PYE in Elizabeth. See More Results