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 $161,626.
Net Cash Flow over 5 years
|Year 0||Year 1||Year 2||Year 3||Year 4||Year 5|
|Net Operating Profits||$28,665||$42,997||$57,330||$59,650||$62,064|
|Net Cash Flow||-$91,040||$28,665||$42,997||$57,330||$59,650||$248,257|
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 Yonkers.
- median income
- July temperature
- August temperature
- gross rent
- population density
- house price
- business activity
- nearby population
- land area
- February temperature
Accounting firms or individuals that provide accounting, tax filing, or related financial services to clients.
30-38 S Broadway Yonkers, NY 10701
260 Riverdale Ave Yonkers, NY 10705
777 Central Park Ave Yonkers, NY 10704
2141 Central Park Ave Yonkers, NY 10710
460 S Broadway Yonkers, NY 10705
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 Yonkers and its Consumers
Yonkers is one of New York's largest cities and the largest city in Westchester County. It borders Manhattan (to the south) and is less than 20 miles from the heart of New York City. Other surrounding communities include Mt. Vernon and New Rochelle (to the east) and White Plains (to the north). The Hudson River flows along Yonkers' western border and the New York City borough of the Bronx is directly south of the city. The city's principal transportation artery is Interstate I-87 (also known as the New York State Thruway), but Yonkers is also serviced by a number of other important roads including U.S. Route 9, New York State Highway 9A, and several parkways (Saw Mill, Cross County, and Bronx River). The best-known attraction in Yonkers is its harness racing track, Yonkers Raceway. Another of the city's treasures is the Hudson River Museum. Founded in 1919, the Museum of Westchester is housed in the restored Glenview mansion and features a planetarium along with spacious galleries for art exhibitions. The Yonkers Police Museum features artifacts, photos, and exhibits which chronicle the city's police force going as far back as 1866.
Yonkers is one of New York's largest cities and the largest city in Westchester County. It borders Manhattan (to the south) and is less than 20 miles from the heart of New York City. Other surrounding communities include Mt. Vernon and New Rochelle (to the east) and White Plains (to the north). The Hudson River flows along Yonkers' western border and the New York City borough of the Bronx is...description source
Population Population (2012) 198,449 Population Density 11,017 ppl/sq mi Population Growth Rate 1.3% Median Income $50,656 Median Age 37.6 Unemployment 7.9% Family Household Percent 63.7% Avg. Household Size 2.6 Avg. House Price $403,900 Foreign Born 29.3% Married 39.0% Cost of Living 83.3%
Demographics White 41.2% Hispanic / Latino 35.4% Black / African American 15.4% Asian 6.7% Native American 0.05%
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.