Business Opportunities in the Sunshine State
Every year thousands of entrepreneurs buy or start businesses in South Florida, home to a huge variety of interesting business opportunities. Our great weather, lifestyle and year-round tourism combine to make South Florida an attractive place to start or purchase a business, and hospitality is certainly an attractive industry to consider. Hospitality related businesses include hotel, motel, restaurant, retail, transportation and tour operations. These businesses can be seasonal with strong winter, spring and early summer business, but good operators cater to both tourists and locals creating year round revenue opportunities. Yachting and marine related businesses are also very popular and blend well with the strong hospitality and tourism sectors. Fort Lauderdale’s marine industry consists of world-class shipyards, manufacturing, wholesale and retail marine products, boat brokers, dockage and every other type of marine service imaginable.
Strong Business Metrics and Demographics
Beyond its obvious appeal to tourists, South Florida boasts excellent metrics and demographics for business owners including a large and thriving local economy, strong population growth and a very competitive tax structure with no state income tax for residents.
South Florida has a population over 6 million making it the largest metro area in the state, the seventh largest in the country, and the 12th largest economy in the country. Florida has experienced serious population growth over the past few decades and is now the third-most populous state in the country behind California and Texas.
The Miami MSA consists of three counties: Miami-Dade, Broward and Palm Beach, stretching south to north with the Atlantic coastline to the east and the Everglades to the west. Broward County sits at the center of the MSA as the 2nd most populous county in the state and the 17th most populous county in the country. The city of Fort Lauderdale serves as the Broward county seat and central business district. Fort Lauderdale is known as the ‘Yachting Capital of the World’ with more than 300 miles of inland waterways, 24 miles of Atlantic coastline and over 50,000 registered vessels.
Broward County is home to more than 150 corporate headquarters making it a significant business center with a large and diverse labor force. In addition to hospitality and marine, the largest business sectors include aviation and aerospace, healthcare, global logistics, life sciences, manufacturing, financial services and technology.
Contact us for more information about buying a business in South Florida.