Market Research Report

Accounting Firm opportunities in Greensboro, NC
$43,115 Potential Yearly Earnings What's this number?
$150,767 Net Present Value What's this number?

  Financial Projections

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 Revenues $215,573 $323,359 $431,146 $450,116 $469,922
Net Costs $194,016 $291,024 $388,031 $405,105 $422,929
Net Operating Profits $21,557 $32,336 $43,115 $45,012 $46,992
Capital
      Startup Cost -$39,967
      Terminal Value $140,976
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.

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 Greensboro.

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

  Competitors

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

Delman & Company Certified Public Accountants Local Competitor
3201 Brassfield Rd Greensboro, NC 27410

Smart Choice Tax Service Local Competitor
2300 W Meadowview Rd Greensboro, NC 27407

Shahbaz Southern Company PA Certified Public Accountants Local Competitor
5587 -D Garden Village Way Greensboro, NC 27406

Ron Davis Accounting & Tax Services, LLC Local Competitor
3723 W Market St , Suite D Greensboro, NC 27403

Action Accounting Services Local Competitor
515-2 College Rd Greensboro, NC 27410

TIP: Your market is dominated by independant companies. Consider entering with a national or regional franchise.

  Suppliers & Service Providers Contact List

  • Free help for entrepreneurs
    Sbdc

    Our professionals can help you get your business going.

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  • Get business insurance for your venture
    Hiscox

    Find great rates on business insurance.

    Get insured!

       

  • Get a great business loan today!
    Fundera

    Get a business loan that suits your needs.

    Get the business loan you need and want.

       

  About Greensboro and its Consumers

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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%
  • Average Temperature
    January 38.9°F 3.8°C
    February 42.4°F 5.8°C
    March 50.0°F 10.0°C
    April 58.8°F 14.9°C
    May 66.8°F 19.3°C
    June 75.1°F 23.9°C
    July 78.5°F 25.8°C
    August 77.1°F 25.1°C
    September 70.2°F 21.2°C
    October 59.5°F 15.3°C
    November 50.2°F 10.1°C
    December 41.3°F 5.2°C
  • 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/50
    Source: 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/50
    Source: 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/50
    Source: Tax Foundation (2015)

  Suggested Cities & Businesses

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

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