Market Research Report

Accounting Firm opportunities in Murfreesboro, TN
$74,898 Potential Yearly Earnings What's this number?
$262,782 Net Present Value What's this number?

  Financial Projections

Based on the parameters below, we project this business would break even in 1.8 years with a net present value of $262,782.

Net Cash Flow over 5 years

Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Net Revenues $374,491 $561,736 $748,981 $778,544 $809,273
Net Costs $337,041 $505,562 $674,083 $700,689 $728,346
Net Operating Profits $37,449 $56,174 $74,898 $77,854 $80,927
Capital
      Startup Cost -$66,959
      Terminal Value $242,782
Net Cash Flow -$66,959 $37,449 $56,174 $74,898 $77,854 $323,709

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 Murfreesboro.

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

  Competitors

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

Farris Tax Services Local Competitor
508 S Church St Murfreesboro, TN 37130

Jobe Hastings & Associates CPA's Local Competitor
745 S Church St Murfreesboro, TN 37130

Dempsey Vantrease & Follis PLLC Local Competitor
630 S Church St Murfreesboro, TN 37130

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

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  About Murfreesboro and its Consumers

Murfreesboro is a city in and the county seat of Rutherford County, Tennessee. The population was 108,755 according to the 2010 census, up from 68,816 residents certified during the 2000 census.The city is the center of population of Tennessee and is part of the Nashville metropolitan area, which includes thirteen counties and a population of 1,617,142 (2011). It is Tennessee's fastest growing major city and one of the fastest growing cities in the country. Murfreesboro is also home to Middle Tennessee State University, the largest undergraduate university in the state of Tennessee, with an undergraduate population of 22,299 and 25,188 total students as of 2009. In 2006, Murfreesboro was ranked by Money as the 84th best place to live in the United States, out of 745 cities with a population over 50,000. According to the United States Census Bureau, the city has a total area of 39.2 square miles (102 km2). 39.0 square miles (101 km2) of it is land and 0.2 square miles (0.52 km2) of it (0.54%) is water. However, as of 2013 the City reports its total area as 55.94 square miles (144.9 km2).

Murfreesboro is a city in and the county seat of Rutherford County, Tennessee. The population was 108,755 according to the 2010 census, up from 68,816 residents certified during the 2000 census.The city is the center of population of Tennessee and is part of the Nashville metropolitan area, which includes thirteen counties and a population of 1,617,142 (2011). It is Tennessee's fastest growing...

description source
  • Population
    Population (2012) 114,038
    Population Density 2,060 ppl/sq mi
    Population Growth Rate 4.9%
    Median Income $44,383
    Median Age 29.3
    Unemployment 7.8%
    Family Household Percent 59.9%
    Avg. Household Size 2.5
    Avg. House Price $189,500
    Foreign Born 5.5%
    Married 37.4%
    Cost of Living 46.9%
  • Average Temperature
    January 36.8°F 2.7°C
    February 40.4°F 4.7°C
    March 48.6°F 9.2°C
    April 57.6°F 14.2°C
    May 66.3°F 19.1°C
    June 74.6°F 23.7°C
    July 78.3°F 25.7°C
    August 77.6°F 25.3°C
    September 70.5°F 21.4°C
    October 59.0°F 15.0°C
    November 49.4°F 9.7°C
    December 39.8°F 4.3°C
  • Demographics
    White 73.1%
    Hispanic / Latino 5.9%
    Black / African American 15.0%
    Asian 3.3%
    Native American 0.3%

  Market & Regulatory Conditions For Tennessee

Third parties rate Tennessee's business and regulatory conditions according to their own methods. We report them here for informational purposes.

  • Small-Business Friendliness
    Overall small business friendliness B-
    Ease of starting a small business B
    Cost of hiring a new employee A
    Overall regulatory friendliness A-
    Friendliness of health and safety regulations B+
    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 A-
    Publicity of networking programs B+
    Current economic health of small business 17th/50
    Change in revenue over past 12 months 16th/50
    Forecast of small business's future economic health 30th/50
    Source: Thumbtack.com (2012)
  • Business Friendliness
    Overall Business Friendliness 14th/50
    Cost of Doing Business 13th/50
    Economy 14th/50
    Infrastructure 4th/50
    Workforce 6th/50
    Quality of life 50th/50
    Technology and innovation 28th/50
    Business friendliness 18th/50
    Education 39th/50
    Cost of living 9th/50
    Access to capital 33th/50
    Source: CNBC (2014)
  • Tax Friendliness
    Tennessee Corporate Tax Rate 7.0%
    Avg Local Corporate Tax Rate in Tennessee 2.5%
    Avg Combined Corporate Tax Rate 9.5%
    Overall tax friendliness 15th/50
    Corporate tax rank 15th/50
    Individual income tax rank 8th/50
    Sales tax rank 47th/50
    Unemployment insurance tax rank 26th/50
    Property tax rank 37th/50
    Source: Tax Foundation (2015)

  Suggested Cities & Businesses

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

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