Business for Sale in Florida: Look Out For These 3
Thinking of buying a business in Florida? Discover the top three factors to consider—from industry growth to local competition—to make the right investment in the Sunshine State’s booming market.
Table of Contents:
Introduction
If you are looking for a business in Florida, you will want to keep these three things in mind. With a little bit of research, you’ll sure find the perfect business for sale.
1. Look for businesses in growing industries.
2. Consider the competition.
3. Find an industry that is a good fit for you.
Business for Sale in Florida: Three Important Things to Look Out For
We get a lot of questions about businesses for sale in Florida, and what you should be looking out for before buying, or before starting a business in Florida. Florida is a growing state in terms of both domestic migration and international migration. We have a lot of people moving here from the Northeast, Midwest, as well as from Latin America and Europe. So, you are benefiting from demographic growth throughout the state, especially in the Orlando area, and South Florida, and Jacksonville, and a few other cities like Tampa Bay.
Florida often is the top choice when they’re looking at business opportunities coupled with quality of life, being pretty much sunny, and good weather throughout the year. There are a lot of opportunities in the travel, hospitality, service industry, as well as medical space. Depending on the municipality, what city, county you’re looking to open up the business you might find some red tape where it’s a bit difficult to get permitting and permitting might be slower than other parts of the country such as Texas.
Especially here in South Florida, Miami, it can take a little more time to get the proper permits before you open up your business. Florida is very beneficial in terms of not having state income tax, however, we do pay tax when you’re leasing a property. But one of the benefits is there’s no state income tax.
Where can I find growing opportunities?
There are growing opportunities throughout the state, but really depending on the type of business, whether it’s real estate property management, commercial cleaning, a small restaurant, a cafe, it’s going to really depend on a city or even a zip code by zip code basis.
Conclusion
It’s really important to explore it with an advisor, your business broker, real estate agent, attorney, while you’re investigating the different businesses and franchises available.
Whether they might be businesses for sale, or start a new franchise. It’s really important that you have the right team of advisors before moving forward with establishing or purchasing that business.
