Market Research Report

Accounting Firm opportunities in Miami, FL
$42,344 Potential Yearly Earnings What's this number?
$140,115 Net Present Value What's this number?

  Financial Projections

Based on the parameters below, we project this business would break even in 2.2 years with a net present value of $140,115.

Net Cash Flow over 5 years

Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Net Revenues $211,722 $317,583 $423,444 $442,350 $462,099
Net Costs $190,550 $285,825 $381,100 $398,115 $415,889
Net Operating Profits $21,172 $31,758 $42,344 $44,235 $46,210
Capital
      Startup Cost -$47,341
      Terminal Value $138,630
Net Cash Flow -$47,341 $21,172 $31,758 $42,344 $44,235 $184,840

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 Miami.

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

  Competitors

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

Elvira Acosta Enrolled Agent Regional Competitor
401 Coral Way Ste 107 Miami, FL 33134

Rodriguez Ariza & Co. Regional Competitor
9500 S Dadeland Blvd Miami, FL 33156

Rodriguez Ariza & Co Local Competitor
9500 S Dadeland Blvd Miami, FL 33156

Estela Lorenzo & Company CPA Local Competitor
6830 SW 159th Pl Miami, FL 33193

Ricardo Santos CPA Local Competitor
7750 SW 117th Ave Miami, FL 33183

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

  Suppliers & Service Providers Contact List

  • Customer Interviews
    Cint

    Connect with audiences in a whole new way

    The easiest way to access consumer data and survey communities in real time.

       

  • Thousands of commercial properties for sale!
    Loopnet

    Find the right commercial property for your business here.

    Thousands of properties to choose from.

       

  • Free help for entrepreneurs
    Sbdc

    Our professionals can help you get your business going.

    We can help with your business plan! We have expertise and datasets.

       

  About Miami and its Consumers

Miami, the second-largest city in Florida and seat of Miami-Dade County, is located in the southeast part of the state, on Biscayne Bay. The area was once the home of the Tequesta Indians until they were nearly wiped out by European diseases and warfare brought on by two centuries of Spanish control of Florida. Miami was founded in 1870 near the site of Ft. Dallas, built in 1835 during the Seminole Indian wars. The city's name is probably derived from “Mayaimi,” an Indian word for “big water.” Miami is an international banking and finance center and has the greatest concentration of international and Edge Act banks (banks making only foreign loans and deposits) in North America; these constitute a major employment base. Greater Miami has a highly diversified economy with numerous multinational and Fortune 500 companies. It is a national leader in biomedical technology, and the health care sector is a major industry. Greater Miami is also part of an area known as the Computer Coast of Florida, and its growing technologies include computers, electrical engineering, and plastics manufacturing.

Miami, the second-largest city in Florida and seat of Miami-Dade County, is located in the southeast part of the state, on Biscayne Bay. The area was once the home of the Tequesta Indians until they were nearly wiped out by European diseases and warfare brought on by two centuries of Spanish control of Florida. Miami was founded in 1870 near the site of Ft. Dallas, built in 1835 during the...

description source
  • Population
    Population (2012) 413,892
    Population Density 11,538 ppl/sq mi
    Population Growth Rate 3.6%
    Median Income $28,536
    Median Age 39.2
    Unemployment 9.2%
    Family Household Percent 56.9%
    Avg. Household Size 2.5
    Avg. House Price $186,800
    Foreign Born 58.4%
    Married 40.2%
    Cost of Living 58.6%
  • Average Temperature
    January 66.5°F 19.2°C
    February 68.5°F 20.3°C
    March 70.5°F 21.4°C
    April 73.8°F 23.2°C
    May 78.2°F 25.7°C
    June 81.4°F 27.4°C
    July 83.4°F 28.6°C
    August 83.9°F 28.8°C
    September 82.7°F 28.2°C
    October 79.3°F 26.3°C
    November 73.8°F 23.2°C
    December 68.6°F 20.3°C
  • Demographics
    White 11.5%
    Hispanic / Latino 70.4%
    Black / African American 16.5%
    Asian 1.1%
    Native American 0.08%

  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/50
    Source: 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/50
    Source: 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/50
    Source: Tax Foundation (2015)

  Suggested Cities & Businesses

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

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