Why Florida is the best place in the USA to start a Business?
- by Elliott Massa
- Feb 27, 2015
- 3 min read
Hey guys, I hope you had an excellent week and recovered from Valentine's day, flower shops are still with no inventory, hahaha.
Well, today I'm going to talk to you about how Florida has become one of the Top 5 states to start your own business. Thousands of people are moving every month to Florida, and that only means one thing, more customers! If you have a business, think about it for a second, we have 19.9 million residents in Florida, all of that people need: food, clothes, services, entertainment, and a lot of other stuff that you can supply.
I mean that if you can make business with only .005% of the population every year (that's half of 1%), you'll be serving around 100,000 customers x year. Now let's do some math, if your business can make a profit of $10 x customer, you're getting $1 cool million a year, and you know how much you spend in every business you go to? I don't know about you but that sounds pretty good to me.
Lot's of my customers that opened businesses, were afraid of doing it. Some of them were sure of what they were going to do, but the majority needed help in polishing the idea or type of business. What kind of permits they needed or what kind of equipment. But one thing I never accepted from them was that they didn't have the capital to start.
C
apital to start a business is an excuse a lot of people use trying to hide that they are afraid. Of course, if you want to open a Bicycle Store in Lincoln Road in Miami or in the Orange Blossom Trail in Orlando, you're going to need a lot of Capital. But if you ask me, I will tell you, "why don't you join some bicycle club, start riding with them, and offer to fix or improve some bicycles for free, show them that you know your market". Then you do some business cards and start passing them around. Since you don't have all the expenses other stores have, you can charge less for the same service.
With the money you're going to start making, you start buying equipment for your new business and in the meantime you open a Facebook, Instagram and Twitter, and you start posting pictures of your works. Now you're going to learn about "Word of Mouth", people are going to start telling other people.
Don't go crazy with the money you are earning, because if you are organized and really have a dream, that's how you're getting your capital for your business, in all this time you have gained experience, found suppliers, etc...
I chose Bicycle at the top of my head, but this works the same with every business that you want to start.
Here are some stats, from http://www.enterpriseflorida.com
4th largest economy in the U.S. and 19th largest economy in the world (if Florida were a nation)
Population of 19,893,297, 3rd largest in the US
97.3 million tourists visit each year
More than $153 billion in annual merchandise trade
More than $800 billion in state GDP, the 4th largest in in the US and more than that of Switzerland, Saudi Arabia and Argentina
More than $810 billion in personal income, #1 in the Southeast
Florida’s Business-Friendly Climate
No personal income tax
#2 best state for business
#4 lowest private sector unionization rate
#3 corporate tax environment
Top 5 business tax climate
Expedited permitting process and regulatory assistance are available
Targeted industry incentives including sales and use tax exemptions, and tax credits and refunds for capital investment, R&D, and job creation
Florida’s Talented Workforce
Florida’s Thriving Companies
I’ll be bringing you more information about tips and secrets to start your own business in Florida so, leave a comment below. Comment if you have questions you want me to answer about starting a business. I love hearing from you!
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