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 $273,103.
Net Cash Flow over 5 years
|Year 0||Year 1||Year 2||Year 3||Year 4||Year 5|
|Net Operating Profits||$38,424||$57,636||$76,848||$81,472||$86,375|
|Net Cash Flow||-$72,775||$38,424||$57,636||$76,848||$81,472||$345,499|
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 Irving.
- July temperature
- median income
- August temperature
- gross rent
- population density
- business activity
- house price
- land area
- February temperature
- nearby population
Accounting firms or individuals that provide accounting, tax filing, or related financial services to clients.
750 W 2nd St Ste 100 Irving, TX 75060
1900 W Irving Blvd Ste 103 Irving, TX 75061
1221 W Airport Fwy Ste 115 Irving, TX 75062
4070 N Belt Line Rd Ste 132 Irving, TX 75038
2210 W Shady Grove Rd Irving, TX 75060
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 Irving and its Consumers
Irving is a Texas city located twelve miles west of Dallas in west central Dallas County. Located on Texas State Highway 183 and easily accessible to Interstate Highways I-30 and I-35, the city houses a portion of Dallas/Fort Worth International Airport. Irving is home to the national headquarters of the Boy Scouts of America. The Irving Arts Center combines big time entertainment and cultural events in a single complex. Within the complex are two state-of-the art theaters; four galleries; meeting and classroom facilities; and an outdoor sculpture garden located on a ten-acre site. More than 300 performances and 20 rotating exhibits are featured annually. Other cultural and entertainment sites in or around Irving include the following: Mustangs of Las Colinas: A breathtaking sculpture of nine larger-than-life bronze mustangs galloping across a granite stream. National Scouting Museum: The Official Museum of the Boy Scouts of America. Las Colinas Flower Clock: A larger-than-life sized clock where fresh flowers bloom year-round. Mandalay Canal Walk at Las Colinas: A tree-lined
Irving is a Texas city located twelve miles west of Dallas in west central Dallas County. Located on Texas State Highway 183 and easily accessible to Interstate Highways I-30 and I-35, the city houses a portion of Dallas/Fort Worth International Airport. Irving is home to the national headquarters of the Boy Scouts of America. The Irving Arts Center combines big time entertainment and...description source
Population Population (2012) 225,427 Population Density 3,363 ppl/sq mi Population Growth Rate 4.2% Median Income $47,266 Median Age 31.2 Unemployment 5.9% Family Household Percent 62.5% Avg. Household Size 2.6 Avg. House Price $138,700 Foreign Born 29.3% Married 33.1% Cost of Living 49.7%
Demographics White 30.9% Hispanic / Latino 39.7% Black / African American 12.9% Asian 14.2% Native American 0.2%
Market & Regulatory Conditions For Texas
Third parties rate Texas's business and regulatory conditions according to their own methods. We report them here for informational purposes.
Small-Business Friendliness Overall small business friendliness A+ Ease of starting a small business A Cost of hiring a new employee B+ Overall regulatory friendliness A Friendliness of health and safety regulations A- Friendliness of employment, labor, and hiring regulations A Friendliness of tax code A Friendliness of licensing regulations A Friendliness of environmental regulations A- Friendliness of zoning regulations A Publicity of training programs C+ Publicity of networking programs C Current economic health of small business 13th/50 Change in revenue over past 12 months 29th/50 Forecast of small business's future economic health 17th/50Source: Thumbtack.com (2012)
Business Friendliness Overall Business Friendliness 2th/50 Cost of Doing Business 23th/50 Economy 1th/50 Infrastructure 1th/50 Workforce 11th/50 Quality of life 37th/50 Technology and innovation 2th/50 Business friendliness 20th/50 Education 27th/50 Cost of living 18th/50 Access to capital 5th/50Source: CNBC (2014)
Tax Friendliness Texas Corporate Tax Rate 6.3% Avg Local Corporate Tax Rate in Texas 1.9% Avg Combined Corporate Tax Rate 8.2% Overall tax friendliness 10th/50 Corporate tax rank 39th/50 Individual income tax rank 6th/50 Sales tax rank 36th/50 Unemployment insurance tax rank 15th/50 Property tax rank 36th/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.