Florida alone has approximately 2.4 million small enterprises, making it a shining example of American commerce. Florida is ranked as the second-best state for businesses in America by Chief Executive Magazine, and it makes sense.
The GDP of Florida’s fourth-largest state eclipses the GDPs of Saudi Arabia, Switzerland, and Argentina at about a trillion dollars.
Florida is home to a wide variety of enterprises, from manufacturing to exports to tourism, manufacturing to IT.
Over 6,400 new businesses were started in Florida in 2019 alone thanks to the labor-intensive efforts of entrepreneurs, and over a quarter million new employees were created in Florida in 2018.
Some of the most prosperous entrepreneurial cities are in Florida. The government can assist business owners in lowering their start-up expenses and increasing their profitability.
A streamlined regulatory framework is advantageous to many businesses, and the state’s absence of an income tax increases both your personal wealth and that of your business.
Although Florida is a business-friendly state, be prepared to face obstacles as well. For instance, labor expenses will keep increasing because of the need for greater compensation, a lack of qualified workers, and more extensive perks, such as paid health care. The increased frequency of extreme weather disasters like hurricanes may result in higher insurance rates.
How to Start a Business in Florida Expert Advice
1. Carry Out Market Research
You’re exploring a brand-new area. Whatever facts you believe to be true are always open to question since market interests are constantly shifting. Start by researching the area you’re trying to break into. Take surveys, look at its internet presence and SEO-based marketing, and see how it may help your model.
2. Develop a Business Plan
Making a sound business plan, which outlines your goals for the company, should come next on your list of preparatory tasks. This plan should also include a list of well-written ideas for potential funding sources. This strategy should cover the following areas: product development, sales and marketing, human resources, and overall financial planning with precise estimates for the next at least five years.
Below Are The 8 Best Businesses On Demand In Florida
1. Real Estate
Real estate is always a popular industry, but it may be very lucrative in a state like Florida where the population is expanding quickly.
There are a few things you should keep in mind if you’re considering entering the real estate industry. You must first obtain a real estate license.
State-specific requirements vary, but in Florida, you must complete 60 hours of real estate coursework and pass a 3 1/2 hour exam that covers the following topics (not an exhaustive list):
2. Mobile Auto Detailing
One of the best companies to start in Florida is a mobile auto detailing because you can work there year-round. Additionally, this service is always required due to a large number of vehicles on the road. It’s not very difficult or expensive to launch a mobile auto detailing service.
Prior to beginning to promote your company to potential clients, you must first invest in some high-quality tools and supplies. What you will require to launch your business is listed below:
Of course, this doesn’t cover everything you’ll need to do to establish your company as a legitimate, legal one. Determine the legal structure of the company you intend to launch, register it with the Florida Division of Corporations, and buy at least general liability insurance.
3. Establish a Microbrewery
Despite only accounting for $27.6 billion of the $114.2 billion US beer market overall, craft beer continues to grow in both monetary volume and market share.
Florida has fewer craft breweries per capita than other, more competitive states like Colorado, Washington, and California, with roughly 200 scattered over a populous, heavily urbanized state. Even little towns like Apalachicola have a demand for fine, locally brewed beer, despite the fact that major urban regions like Gainesville and Tampa are well renowned for their craft breweries.
From 1,653 breweries in 2009 to 8,386 breweries in 2019, the number of American brewers has surged. Even with old equipment, starting a craft brewery in Florida is often a six-figure investment in a highly regulated sector. You’ll need a strong business strategy that focuses on the production and distribution volume you want to achieve as well as the business model you’ll utilize (such as a brewpub or production-only brewery) (such as in-house sales only, or regional wholesale and retail distribution). Although the market is cutthroat, it appears that there is still room for success in the brewing industry as new breweries continue to develop across the country.
4. Open a Nail Spa
In 2018, Americans who cared about their appearance spent more than $8 billion in nail salons. Through 2028, there will be a 10% increase in demand for nail salons nationwide. Additionally, starting a nail salon in Florida could enable you to earn an average yearly salary of $58,000, or between $40,000 and $70,000.
Review the CDC COVID guidelines and the new minimum wage law that Florida voters approved in 2020 as you consider starting a nail shop. Remember that nail shops often have 1,000 square feet or less when designing your area.
A significant section of your target market may be Florida women between the ages of 18 and 24. Equipment prices typically run from $75,000 to $125,000.
5. Flower Delivery Business
Florida is renowned as the “Land of Flowers” which suggests that flowers are regarded as a legitimate cultural component.
It should be noted that there are numerous other occasions when you might give someone a bouquet of flowers; flowers are not just for Valentine’s Day. Delivering flowers to people’s homes or doorsteps is a small business that could be lucrative for an entrepreneur.
6. Delivery Service
Every economy needs courier and transportation services since it is constantly necessary to deliver time-sensitive goods from one place to another.
If you are willing to make deliveries on short notice, in all types of weather, and even on holidays, you can increase your chances of success.
Establishing this kind of business requires effective word-of-mouth marketing.
7. Open a Grocery Store
Owning your own grocery shop may be a profitable venture in the Sunshine State, whether you invest in a franchise or launch a specialty store.
However, be knowledgeable about the field. Profit margins can range from as low as 1% for a typical supermarket too as high as 10–12% for a smaller, more specialized grocer, depending on the type of store. Be ready to invest up to $500,000 through significant permitting in order to open a small or medium-sized store.
8. Start an inn or Hotel
2020 has not been an easy year for Florida’s 3,908 hotels and motels, despite the state’s lodging sector experiencing sustained growth through 2019. For the $20 billion industry, there are indications of promise. There is an opportunity where there is hope.
Opening a hotel or motel in Florida (and obtaining the necessary licenses) may be difficult given that the state’s hospitality sector’s full recovery is not anticipated until 2023. These upcoming years could position you for success if tourism picks back up, whether you choose to create an independent facility, invest in a franchise, or buy an available motel. The Florida Keys, Orlando, Jacksonville, Tampa Bay, Naples, and South Florida are examples of important marketplaces where this is doubly true.
9. International trade
The biggest container port in Florida is in Miami. Exporters don’t need to worry because items can be efficiently sent through this port to any location on earth. Miami is a good area to launch your own export firm if you are familiar with its complexities and want to take the plunge.