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. 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. And 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 in Florida, whether they might be businesses for sale, or start a new franchiseA franchise is when a business (franchisor) allows a party (franchisee) to acquire its know-how, procedures, processes, trademarks, intellectual property, use of its business model, brand and rights to sell its products and services. The franchisee signs a contract (franchise agreement) with the franchisor to acquire the franchise and generally has a territory granted to operate….. It’s really important that you have the right team of advisors before moving forward with establishing or purchasing that business.