Market Research Report
Based on the parameters below, we project this business would break even in 3.2 years with a net present value of $52,763.
Net Cash Flow over 5 years
|Year 0||Year 1||Year 2||Year 3||Year 4||Year 5|
|Net Operating Profits||$9,396||$14,094||$18,792||$19,552||$20,344|
|Net Cash Flow||-$30,056||$9,396||$14,094||$18,792||$19,552||$81,374|
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.
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 Syracuse.
- median income
- July temperature
- August temperature
- gross rent
- population density
- business activity
- house price
- land area
- nearby population
Accounting firms or individuals that provide accounting, tax filing, or related financial services to clients.
4729 Onondaga Blvd Syracuse, NY 13219
2140 W Genesee St Syracuse, NY 13219
4200 S Salina St Syracuse, NY 13205
TIP: Your market is dominated by national chains. Consider entering the market with an independant business or a regional franchise.
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About Syracuse and its Consumers
Syracuse is a city in, and the county seat of, Onondaga County, New York, United States. It is the largest U.S. city with the name "Syracuse", and is the fifth most populous city in the state of New York. At the 2010 census, the city's population was 145,170 (making it the 175th largest city in the country), and the metropolitan area had a population of 662,577. It is the economic and educational hub of Central New York, a region with over a million inhabitants. Syracuse is well provided with convention sites, with a downtown convention complex and, directly west, the Empire Expo Center, which hosts the annual Great New York State Fair. The city derives its name from Siracusa on the eastern coast of the Italian island of Sicily. The city has been a major crossroads over the last two centuries, first between the Erie Canal and its branch canals, then on therailway network. Syracuse is at the intersection of Interstates 81 and 90, and its airport is the largest in the region.
Syracuse is a city in, and the county seat of, Onondaga County, New York, United States. It is the largest U.S. city with the name "Syracuse", and is the fifth most populous city in the state of New York. At the 2010 census, the city's population was 145,170 (making it the 175th largest city in the country), and the metropolitan area had a population of 662,577. It is the economic and...description source
Population Population (2012) 144,170 Population Density 5,756 ppl/sq mi Population Growth Rate -0.7% Median Income $28,817 Median Age 29.4 Unemployment 8.9% Family Household Percent 49.6% Avg. Household Size 2.3 Avg. House Price $86,700 Foreign Born 8.7% Married 51.9% Cost of Living 54.7%
Demographics White 53.8% Hispanic / Latino 7.0% Black / African American 27.3% Asian 6.0% Native American 1.1%
Market & Regulatory Conditions For New York
Third parties rate New York'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 D Cost of hiring a new employee B- Overall regulatory friendliness F Friendliness of health and safety regulations D Friendliness of employment, labor, and hiring regulations F Friendliness of tax code F Friendliness of licensing regulations F Friendliness of environmental regulations D Friendliness of zoning regulations F Publicity of training programs B- Publicity of networking programs C- Current economic health of small business 35th/50 Change in revenue over past 12 months 37th/50 Forecast of small business's future economic health 29th/50Source: Thumbtack.com (2012)
Business Friendliness Overall Business Friendliness 40th/50 Cost of Doing Business 50th/50 Economy 34th/50 Infrastructure 38th/50 Workforce 43th/50 Quality of life 21th/50 Technology and innovation 3th/50 Business friendliness 29th/50 Education 1th/50 Cost of living 50th/50 Access to capital 4th/50Source: CNBC (2014)
Tax Friendliness New York Corporate Tax Rate 4.0% Avg Local Corporate Tax Rate in New York 4.5% Avg Combined Corporate Tax Rate 8.5% Overall tax friendliness 49th/50 Corporate tax rank 20th/50 Individual income tax rank 49th/50 Sales tax rank 40th/50 Unemployment insurance tax rank 31th/50 Property tax rank 46th/50Source: Tax Foundation (2015)
Resources to Get Started
Now that you have a potential location and idea for your business, here is a list of helpful resources you may need to get started.