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Going Into the Business in Florida: Benefits and Trends
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Why is the Franchising industry in Florida a good one to get into?
That's pretty easily answered. In fact, you can answer with just two words, sunny and money. Florida has a vibrant and growing economy, rapidly developing cities, and a prime location along the popular Eastern & Gulf Coasts of the United States. This location generates lots of tourism, which, in-turn, creates business opportunities not available in many other states.
Data supports these claims too. According to the Bureau of Economic Analysis, the state’s Total Gross Domestic Product (GDP) grew from $898.4 billion in 2018 to an estimated $1.07 trillion in 2020 and is projected to be even higher in 2023. As a result, businesses in a variety of sectors are in great demand in Florida, creating a perfect environment for franchises to expand their presence and take advantage of the numerous opportunities.
Owning a franchise in Florida will allow you to benefit financially, but it will also allow you to create jobs. Statistics show that between 2023-2030, the total employment in the franchising industry in Florida is expected to grow to nearly 1 million, with a projected 106,400 new jobs added between 2022-2030. This is not just an example of the potential for growth, but also the direct impact you could have on the community.
Do the demographics and policies in Florida indicate Florida's economy will sustain growth as well?
Florida’s population is growing and diverse. Hispanics comprised 21% of the state’s population as of 2020. This offers franchisors a great opportunity to develop businesses that target particular markets and niche industries. A growing and diverse population increases the potential for you to realize success.
A variety of franchises have found success in Florida, from well-known national names to smaller, local businesses. In addition, legislators in the state are taking steps to bolster the franchising industry, including recently passed legislation to streamline the permitting process for franchise locations. This legislation has made it easier for businesses of all sizes to operate in Florida.
In the words of Florida State Representative Joseph Geller, “The franchise industry in Florida is booming, and the state is taking steps to make it easier to do business, creating the perfect environment for individuals and businesses looking to start or expand their franchise. The push for business growth and diversification in our state is strong and committed.”
To sum it up, the franchising industry in Florida is a great one to get into for entrepreneurs looking to start or expand their business. With its strong and growing economy, favorable regulations, and access to a diverse population, Florida is an excellent place to start or own a franchise. You can use the resources below to help you hone in what type of business would be best to start. Then you can view all of the available opportunities in Florida and be on your way to incredible success in business.
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Top 5 resources for Florida Franchise Owners
- Florida Department of Economic Opportunity: This state agency provides resources for franchise owners, including business license information and tax information.
- Franchise Times: This magazine provides news, analysis, and resources for franchise owners in Florida and across the United States.
- International Franchise Association: This association provides education, networking opportunities, and advocacy for franchise owners across the United States.
- Florida Association of Franchisees and Dealers: This organization provides education and advocacy for Florida franchisees and dealers.
- Florida Small Business Development Center Network: This network provides a wide range of assistance to Florida franchise owners, including business plan development, financing advice, and market research.
Today's busy lifestyles demand the services PostalAnnex offers. Capitalize on this demand and open your own business!! After retiring from the printing business PostalAnnex founder Jack Lentz began working out of his home as a business consultant. He soon…
Cash Required: $70,000
The Tutoring Center
Your Future Belongs Here! Do you want to own your own successful business in a high-demand and rewarding profession? Then look no further than The Tutoring Center! Our turn-key system makes getting started easy with comprehensive training and support,…
Cash Required: $80,000
Club Z! Tutoring
There’s never been a better time to enter this recession-proof industry! Become your own boss and join the multi-billion-dollar tutoring industry. Club Z!’s awarding-winning business offers in-home and online tutoring in all subjects and grade levels.
Cash Required: $40,000
There is no better time than now to buy businesses. With inflation, the recession and uncertainty in the market. Now more than ever is the ideal opportunity for groups of professional marketers and investors to collaborate for the purpose of purchasing…
Cash Required: $50,000
Bruster’s Real Ice Cream
A Scoop Above The Rest - Bruster's®Real Ice Cream. Since 1989, Bruster's® has become one of the country's favorite frozen treat chains. And for the last 20 years, we've been ranked by Entrepreneur Magazine as a top franchise. The…
Cash Required: $150,000
The UPS Store
Here at The UPS Store franchise, we know first-hand how important a healthy work-life balance is. When you become an owner of a The UPS Store, you are assisted with finding the right balance as you pursue your entrepreneurial aspirations and unique personal…
Cash Required: $75,000
Automated Ecom, LLC
We build and scale Amazon businesses for our clients by helping automate all inventory management tasks, keeping account health in great condition, inventory monitoring, 24/7 customer service, and helping to automate any and all business tasks associated with…
Cash Required: $10,000
Why Medical/Dental Billing is the business for you... No Experience Needed! Great Income Potential! Flexibility to work at home, on the road, basically anywhere you have Internet access. ClaimTek is the most trusted Medical/Dental Billing business opportunity…
Cash Required: $20,000
Mountain Crest Movers & Junk Removal
Become a Mountain Crest Movers franchisee and receive all the training and support you need to "Move Mountains Everyday" and make moving a good experience. Benefit from multiple revenue streams and ongoing business development to scale your business.
Cash Required: $50,000
We build businesses and change lives. MRINetwork has led the search industry since 1965, developing new success frameworks and billing over $17 billion as a network. Today, with more than 250+ offices spanning five continents, MRI is the global leader in…
Cash Required: $50,000
Apricot Lane Boutiques
The #1 women’s fashion franchise. We train our franchisees to be THE fashion destination in their local market, bringing in new styles earlier and more often than any competitor, all at reasonable prices, and ultimately win extremely loyal fans. Find out…
Cash Required: $80,000
Bring the nation’s premier Medical Weight Loss Brand to your community. Demand for our proven program has never been stronger. Our financially rewarding opportunity includes comprehensive support and training for investors and doctors.