Market Research Report

Accounting Firm opportunities in Peoria, IL
$33,073 Potential Yearly Earnings What's this number?
$109,037 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 $109,037.

Net Cash Flow over 5 years

Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Net Revenues $165,365 $248,048 $330,731 $341,723 $353,080
Net Costs $148,829 $223,243 $297,658 $307,551 $317,772
Net Operating Profits $16,537 $24,805 $33,073 $34,172 $35,308
Capital
      Startup Cost -$35,601
      Terminal Value $105,924
Net Cash Flow -$35,601 $16,537 $24,805 $33,073 $34,172 $141,232

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 Peoria.

  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. nearby population
  10. white

  Competitors

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

H&R Block National Competitor
8839 N Knoxville Ave Ste 9 Peoria, IL 61615

JV Business Services Inc Regional Competitor
3526 N California Ave Peoria, IL 61603

Gerber Gerry CPA Local Competitor
2920 W Lake Ave Peoria, IL 61615

  Suppliers & Service Providers Contact List

  • Get business insurance for your venture
    Hiscox

    Find great rates on business insurance.

    Get insured!

       

  • Free help for entrepreneurs
    Score

    Our experienced entrepreneurs can help you reach your goals.

    We provide free business mentoring for entrepreneurs.

       

  • Get a great business loan today!
    Fundera

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    Get the business loan you need and want.

       

  About Peoria and its Consumers

Peoria is a city in and the county seat of Peoria County, Illinois, United States, and the largest city on the Illinois River. Established in 1691 by the French explorer Henri de Tonti, Peoria is the oldest European settlement in Illinois,and is named after the Peoria tribe. As of the 2010 census, the city was the seventh-most populated in Illinois, with a population of 115,007.The Peoria Metropolitan Statistical Area had a population of 373,590 in 2011. Peoria had a population of 118,943 in 2010, when far northern Peoria was also included. Peoria is the headquarters for Caterpillar Inc., one of the 30 companies composing the Dow Jones Industrial Average. Peoria became the first world leader for distilleries thanks to Andrew Eitle (1837) and Almiron S. Cole (1844). During this time, Peoria held 22 distilleries and multiple breweries. Together, they produced the highest amount of internal revenue tax on alcohol of any single revenue district in the entire U.S. Peoria also was one of the major bootlegging areas during the prohibition and home to the famed mobsters, the Shelton brothers. This great success placed Peoria into a building boom of beautiful private homes, schools, parks, churches, as well as municipal buildings.

Peoria is a city in and the county seat of Peoria County, Illinois, United States, and the largest city on the Illinois River. Established in 1691 by the French explorer Henri de Tonti, Peoria is the oldest European settlement in Illinois,and is named after the Peoria tribe. As of the 2010 census, the city was the seventh-most populated in Illinois, with a population of 115,007.The Peoria...

description source
  • Population
    Population (2012) 115,687
    Population Density 2,409 ppl/sq mi
    Population Growth Rate 0.6%
    Median Income $41,541
    Median Age 33.7
    Unemployment 10.6%
    Family Household Percent 58.0%
    Avg. Household Size 2.4
    Avg. House Price $119,700
    Foreign Born 4.9%
    Married 38.5%
    Cost of Living 44.9%
  • Average Temperature
    January 24.9°F -3.9°C
    February 29.5°F -1.4°C
    March 40.6°F 4.8°C
    April 52.3°F 11.3°C
    May 62.4°F 16.9°C
    June 71.8°F 22.1°C
    July 75.5°F 24.2°C
    August 73.8°F 23.2°C
    September 66.1°F 18.9°C
    October 54.0°F 12.2°C
    November 41.6°F 5.3°C
    December 28.6°F -1.9°C
  • Demographics
    White 60.4%
    Hispanic / Latino 4.9%
    Black / African American 26.7%
    Asian 4.5%
    Native American 0.2%

  Market & Regulatory Conditions For Illinois

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

  • Small-Business Friendliness
    Overall small business friendliness D+
    Ease of starting a small business C
    Cost of hiring a new employee B
    Overall regulatory friendliness C-
    Friendliness of health and safety regulations C-
    Friendliness of employment, labor, and hiring regulations C
    Friendliness of tax code D+
    Friendliness of licensing regulations D
    Friendliness of environmental regulations C
    Friendliness of zoning regulations C+
    Publicity of training programs D+
    Publicity of networking programs B-
    Current economic health of small business 36th/50
    Change in revenue over past 12 months 23th/50
    Forecast of small business's future economic health 28th/50
    Source: Thumbtack.com (2012)
  • Business Friendliness
    Overall Business Friendliness 27th/50
    Cost of Doing Business 40th/50
    Economy 36th/50
    Infrastructure 3th/50
    Workforce 32th/50
    Quality of life 30th/50
    Technology and innovation 5th/50
    Business friendliness 41th/50
    Education 15th/50
    Cost of living 29th/50
    Access to capital 14th/50
    Source: CNBC (2014)
  • Tax Friendliness
    Illinois Corporate Tax Rate 6.3%
    Avg Local Corporate Tax Rate in Illinois 1.9%
    Avg Combined Corporate Tax Rate 8.2%
    Overall tax friendliness 31th/50
    Corporate tax rank 47th/50
    Individual income tax rank 11th/50
    Sales tax rank 34th/50
    Unemployment insurance tax rank 38th/50
    Property tax rank 44th/50
    Source: Tax Foundation (2015)

  Suggested Cities & Businesses

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

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