Market Research Report

Accounting Firm opportunities in Provo, UT
$56,794 Potential Yearly Earnings What's this number?
$204,666 Net Present Value What's this number?

  Financial Projections

Based on the parameters below, we project this business would break even in 1.7 years with a net present value of $204,666.

Net Cash Flow over 5 years

Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Net Revenues $283,968 $425,952 $567,936 $599,005 $631,775
Net Costs $255,571 $383,357 $511,142 $539,105 $568,597
Net Operating Profits $28,397 $42,595 $56,794 $59,901 $63,177
Capital
      Startup Cost -$49,467
      Terminal Value $189,532
Net Cash Flow -$49,467 $28,397 $42,595 $56,794 $59,901 $252,710

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 Provo.

  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. nearby population

  Competitors

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

H&R Block National Competitor
612 N Freedom Blvd Provo, UT 84601

H&R Block National Competitor
1718 N University Pkwy Ste A Provo, UT 84604

H&R Block National Competitor
990 S University Ave Provo, UT 84601

TIP: Your market is dominated by national chains. Consider entering the market with an independant business or a regional franchise.

  Suppliers & Service Providers Contact List

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  About Provo and its Consumers

Provout Provout

Provo is the third-largest city in the U.S. state of Utah, located about 43 miles (69 km) south of Salt Lake City along the Wasatch Front. Provo is the county seat of Utah County and is the largest city in Utah County. It lies between the cities of Orem to the north and Springville to the south. With a population at the 2010 census of 112,488,Provo is the principal city in the Provo-Orem metropolitan area, which had a population of 526,810 residents at the 2010 census. It is the third-largest metro area in the state behind Salt Lake City and Ogden-Clearfield. The city is home to Brigham Young University, a private higher education institution in the United States, which is operated by The Church of Jesus Christ of Latter-day Saints (LDS Church). Provo is also home to the largest Missionary Training Center for the LDS Church. The city is a key operational center for Novell and has been a focus area for technology development in Utah.

Provo is the third-largest city in the U.S. state of Utah, located about 43 miles (69 km) south of Salt Lake City along the Wasatch Front. Provo is the county seat of Utah County and is the largest city in Utah County. It lies between the cities of Orem to the north and Springville to the south. With a population at the 2010 census of 112,488,Provo is the principal city in the Provo-Orem...

description source
  • Population
    Population (2012) 115,919
    Population Density 2,781 ppl/sq mi
    Population Growth Rate 3.1%
    Median Income $36,831
    Median Age 23.5
    Unemployment 4.6%
    Family Household Percent 67.1%
    Avg. Household Size 3.2
    Avg. House Price $196,300
    Foreign Born 11.4%
    Married 45.7%
    Cost of Living 45.7%
  • Average Temperature
    January 31.0°F -0.6°C
    February 35.6°F 2.0°C
    March 44.9°F 7.2°C
    April 52.1°F 11.2°C
    May 60.8°F 16.0°C
    June 69.7°F 20.9°C
    July 77.3°F 25.2°C
    August 75.6°F 24.2°C
    September 66.1°F 18.9°C
    October 53.8°F 12.1°C
    November 41.3°F 5.2°C
    December 31.8°F -0.1°C
  • Demographics
    White 72.9%
    Hispanic / Latino 19.1%
    Black / African American 0.9%
    Asian 3.2%
    Native American 0.2%

  Market & Regulatory Conditions For Utah

Third parties rate Utah'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 A-
    Overall regulatory friendliness A-
    Friendliness of health and safety regulations A
    Friendliness of employment, labor, and hiring regulations B
    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 B+
    Current economic health of small business 8th/50
    Change in revenue over past 12 months 7th/50
    Forecast of small business's future economic health 3th/50
    Source: Thumbtack.com (2012)
  • Business Friendliness
    Overall Business Friendliness 3th/50
    Cost of Doing Business 16th/50
    Economy 6th/50
    Infrastructure 28th/50
    Workforce 12th/50
    Quality of life 15th/50
    Technology and innovation 18th/50
    Business friendliness 4th/50
    Education 46th/50
    Cost of living 20th/50
    Access to capital 1th/50
    Source: CNBC (2014)
  • Tax Friendliness
    Utah Corporate Tax Rate 5.9%
    Avg Local Corporate Tax Rate in Utah 0.7%
    Avg Combined Corporate Tax Rate 6.7%
    Overall tax friendliness 9th/50
    Corporate tax rank 5th/50
    Individual income tax rank 12th/50
    Sales tax rank 19th/50
    Unemployment insurance tax rank 22th/50
    Property tax rank 4th/50
    Source: Tax Foundation (2015)

  Suggested Cities & Businesses

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

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