Market Research Report

Accounting Firm opportunities in Spokane, WA
$30,984 Potential Yearly Earnings What's this number?
$100,463 Net Present Value What's this number?

  Financial Projections

Based on the parameters below, we project this business would break even in 2.4 years with a net present value of $100,463.

Net Cash Flow over 5 years

Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Net Revenues $154,922 $232,382 $309,843 $324,387 $339,615
Net Costs $139,429 $209,144 $278,859 $291,949 $305,653
Net Operating Profits $15,492 $23,238 $30,984 $32,439 $33,961
Capital
      Startup Cost -$37,039
      Terminal Value $101,884
Net Cash Flow -$37,039 $15,492 $23,238 $30,984 $32,439 $135,846

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 Spokane.

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

  Competitors

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

H&R Block National Competitor
1701 N Division St Spokane, WA 99207

H&R Block National Competitor
2225 W Wellesley Ave Ste 102 Spokane, WA 99205

H&R Block National Competitor
3527 E Sprague Ave Ste 1 Spokane, WA 99202

H&R Block National Competitor
1828 W NW Blvd Spokane, WA 99205

H&R Block National Competitor
1601 N Division St Ste I Spokane, WA 99207

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 Spokane and its Consumers

The city of Spokane, county seat of Spokane County, is Eastern Washington's largest metropolitan center and one of the largest cities in the state of Washington. Located along the Spokane River, the city lies only 20 miles from the Washington-Idaho border and about 280 miles east of Seattle. Officially nicknamed the "Lilac City" owing to the abundance of flowers that have flourished in the area since the early 20th Century, Spokane is surrounded by several communities including Cheney, Mead, Colbert, Millwood, and Liberty Lake. The major Interstate running through Spokane is I-90. In terms of recreation and culture, Spokane has something for everyone. The Northwest Museum of Arts & Culture includes several galleries, an outdoor amphitheater, and an 1898 restored mansion; and features the largest collection of Northern Plateau Indian art and living history in the world. The Armed Forces & Aerospace Museum captures the legacy of all branches of the military. Mobius Kids is a hands-on interactive children's museum which features an authentic Filipino village.

The city of Spokane, county seat of Spokane County, is Eastern Washington's largest metropolitan center and one of the largest cities in the state of Washington. Located along the Spokane River, the city lies only 20 miles from the Washington-Idaho border and about 280 miles east of Seattle. Officially nicknamed the "Lilac City" owing to the abundance of flowers that have flourished in the area...

description source
  • Population
    Population (2012) 209,525
    Population Density 3,536 ppl/sq mi
    Population Growth Rate 0.3%
    Median Income $39,999
    Median Age 35.0
    Unemployment 8.2%
    Family Household Percent 56.4%
    Avg. Household Size 2.3
    Avg. House Price $163,000
    Foreign Born 5.4%
    Married 31.8%
    Cost of Living 48.6%
  • Average Temperature
    January 27.6°F -2.4°C
    February 31.4°F -0.3°C
    March 38.9°F 3.8°C
    April 46.0°F 7.8°C
    May 53.1°F 11.7°C
    June 59.4°F 15.2°C
    July 66.7°F 19.3°C
    August 66.5°F 19.2°C
    September 57.4°F 14.1°C
    October 45.6°F 7.6°C
    November 34.2°F 1.2°C
    December 25.7°F -3.5°C
  • Demographics
    White 84.1%
    Hispanic / Latino 5.6%
    Black / African American 2.4%
    Asian 2.7%
    Native American 1.4%

  Market & Regulatory Conditions For Washington

Third parties rate Washington'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 B-
    Cost of hiring a new employee D+
    Overall regulatory friendliness D+
    Friendliness of health and safety regulations C
    Friendliness of employment, labor, and hiring regulations D+
    Friendliness of tax code D
    Friendliness of licensing regulations D+
    Friendliness of environmental regulations C-
    Friendliness of zoning regulations D+
    Publicity of training programs A-
    Publicity of networking programs D+
    Current economic health of small business 42th/50
    Change in revenue over past 12 months 41th/50
    Forecast of small business's future economic health 21th/50
    Source: Thumbtack.com (2012)
  • Business Friendliness
    Overall Business Friendliness 7th/50
    Cost of Doing Business 34th/50
    Economy 2th/50
    Infrastructure 17th/50
    Workforce 24th/50
    Quality of life 6th/50
    Technology and innovation 4th/50
    Business friendliness 23th/50
    Education 25th/50
    Cost of living 38th/50
    Access to capital 9th/50
    Source: CNBC (2014)
  • Tax Friendliness
    Washington Corporate Tax Rate 6.5%
    Avg Local Corporate Tax Rate in Washington 2.4%
    Avg Combined Corporate Tax Rate 8.9%
    Overall tax friendliness 11th/50
    Corporate tax rank 28th/50
    Individual income tax rank 6th/50
    Sales tax rank 46th/50
    Unemployment insurance tax rank 19th/50
    Property tax rank 23th/50
    Source: Tax Foundation (2015)

  Suggested Cities & Businesses

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

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