Market Research Report
Based on the parameters below, we project this business would break even in 2.2 years with a net present value of $169,725.
Net Cash Flow over 5 years
|Year 0||Year 1||Year 2||Year 3||Year 4||Year 5|
|Net Operating Profits||$25,355||$38,033||$50,710||$52,974||$55,340|
|Net Cash Flow||-$54,767||$25,355||$38,033||$50,710||$52,974||$221,359|
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 Hialeah.
- July temperature
- median income
- August temperature
- gross rent
- population density
- February temperature
- business activity
- house price
- December temperature
- April temperature
Accounting firms or individuals that provide accounting, tax filing, or related financial services to clients.
4821 W 4th Ave Hialeah, FL 33012
110 Hialeah Dr Hialeah, FL 33010
3301 W 80th St Hialeah, FL 33018
1522 W 49th St Hialeah, FL 33012
All Accounting Services
4250 E 4th Ave Hialeah, FL 33013
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 Hialeah and its Consumers
Founded in 1925, Hialeah is a city located in Miami-Dade County in southeast Florida. Hialeah is twenty minutes northwest of Miami, twenty five minutes northwest of Miami Beach, and twenty five minutes north of Coral Gables. Hialeah is the fifth largest city in Florida and occupies 20 square miles. It is part of both the Miami metropolitan area as well as the Greater South Florida metropolitan area, which has a population of 5.4 million people according to the US Census Bureau. Hialeah is an Indian name that means "High Prairie". Hialeah provides access to the following major thoroughfares: I-95, I-75, the Palmetto and Sawgrass Expressways, and the Florida Turnpike. Hialeah residents also have access to both Opa-Locka and Miami International Airports, and the Port of Miami. There are Amtrak, Tri-Rail and Metro-Rail stations located within the city as well. Miami-Hialeah was ranked 22nd on Inc. Magazine's 2004 list of the "Top 25 Cities for Doing Business in America" in the "large cities" category. The Hialeah Fire Department is nationally ranked as Class I. There are fewer than twenty five such fire departments in the United States.
Founded in 1925, Hialeah is a city located in Miami-Dade County in southeast Florida. Hialeah is twenty minutes northwest of Miami, twenty five minutes northwest of Miami Beach, and twenty five minutes north of Coral Gables. Hialeah is the fifth largest city in Florida and occupies 20 square miles. It is part of both the Miami metropolitan area as well as the Greater South Florida metropolitan...description source
Population Population (2012) 231,941 Population Density 10,813 ppl/sq mi Population Growth Rate 3.2% Median Income $27,208 Median Age 42.3 Unemployment 9.9% Family Household Percent 78.0% Avg. Household Size 3.1 Avg. House Price $137,800 Foreign Born 68.8% Married 34.2% Cost of Living 56.6%
Demographics White 4.2% Hispanic / Latino 94.7% Black / African American 0.5% Asian 0.3% Native American 0.03%
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.