Market Research Report
Based on the parameters below, we project this business would break even in 1.9 years with a net present value of $150,767.
Net Cash Flow over 5 years
|Year 0||Year 1||Year 2||Year 3||Year 4||Year 5|
|Net Operating Profits||$21,557||$32,336||$43,115||$45,012||$46,992|
|Net Cash Flow||-$39,967||$21,557||$32,336||$43,115||$45,012||$187,969|
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 Greensboro.
- median income
- July temperature
- August temperature
- gross rent
- population density
- land area
- house price
- business activity
- February temperature
- nearby population
Accounting firms or individuals that provide accounting, tax filing, or related financial services to clients.
Delman & Company Certified Public Accountants
3201 Brassfield Rd Greensboro, NC 27410
Smart Choice Tax Service
2300 W Meadowview Rd Greensboro, NC 27407
Shahbaz Southern Company PA Certified Public Accountants
5587 -D Garden Village Way Greensboro, NC 27406
Ron Davis Accounting & Tax Services, LLC
3723 W Market St , Suite D Greensboro, NC 27403
Action Accounting Services
515-2 College Rd Greensboro, NC 27410
TIP: Your market is dominated by independant companies. Consider entering with a national or regional franchise.
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About Greensboro and its Consumers
Greensboro (formerly Greensborough) is a city in the U.S. state of North Carolina.It is the third-largest city by population in North Carolina and the largest city in Guilford County and the surrounding Piedmont Triad metropolitan region. According to the 2012 U.S. Census Estimate, Greensboro's population is 277,080. It is located at the intersection of three major interstate highways (Interstate 85, Interstate 40 and Interstate 73) in the Piedmont region of central North Carolina. The Greensboro economy and the surrounding Piedmont Triad area, traditionally has been centered around textiles, tobacco, and furniture. Greensboro's central proximity in the state has made it a popular place for families and businesses, as well as becoming more of a logistical hub with FedEx having regional operations based in the city. Notable companies headquartered in Greensboro include the Honda Aircraft Company, Lorillard Tobacco Company, Kayser-Roth, VF,Mack Trucks, Volvo Trucks of North America, RF Micro Devices, the International Textile Group, NewBridge Bank, The Fresh Market, Cook Out, Ham's, Biscuitville, Tripps, and Columbia Forest Products.
Greensboro (formerly Greensborough) is a city in the U.S. state of North Carolina.It is the third-largest city by population in North Carolina and the largest city in Guilford County and the surrounding Piedmont Triad metropolitan region. According to the 2012 U.S. Census Estimate, Greensboro's population is 277,080. It is located at the intersection of three major interstate highways...description source
Population Population (2012) 277,080 Population Density 2,190 ppl/sq mi Population Growth Rate 2.7% Median Income $39,637 Median Age 33.9 Unemployment 9.2% Family Household Percent 56.6% Avg. Household Size 2.3 Avg. House Price $151,300 Foreign Born 9.3% Married 39.4% Cost of Living 48.6%
Demographics White 45.3% Hispanic / Latino 7.3% Black / African American 40.3% Asian 3.4% Native American 0.5%
Market & Regulatory Conditions For North Carolina
Third parties rate North Carolina'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 A- Overall regulatory friendliness C- Friendliness of health and safety regulations C Friendliness of employment, labor, and hiring regulations D Friendliness of tax code D+ Friendliness of licensing regulations C Friendliness of environmental regulations C+ Friendliness of zoning regulations C+ Publicity of training programs D Publicity of networking programs C+ Current economic health of small business 27th/50 Change in revenue over past 12 months 25th/50 Forecast of small business's future economic health 22th/50Source: Thumbtack.com (2012)
Business Friendliness Overall Business Friendliness 5th/50 Cost of Doing Business 23th/50 Economy 4th/50 Infrastructure 21th/50 Workforce 4th/50 Quality of life 34th/50 Technology and innovation 12th/50 Business friendliness 19th/50 Education 33th/50 Cost of living 14th/50 Access to capital 17th/50Source: CNBC (2014)
Tax Friendliness North Carolina Corporate Tax Rate 4.8% Avg Local Corporate Tax Rate in North Carolina 2.2% Avg Combined Corporate Tax Rate 6.9% Overall tax friendliness 16th/50 Corporate tax rank 25th/50 Individual income tax rank 15th/50 Sales tax rank 33th/50 Unemployment insurance tax rank 11th/50 Property tax rank 29th/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.