Florida Business Opportunities
Florida is the third most populated state in the country. At last count, the population has exceeded 26 million people. What this means for entrepreneurs is that we have a whole bunch of opportunities to help people solve their problems through our businesses. From this, Quality Business Plan has asked our business plan writers, business plan consultants and financial forecasting experts to outline and discuss their opinions on Florida’s business opportunities. Listed below are our opinions on Florida’s best business opportunities.
5) How to Start an RV Park in Florida.
Coming in at number five is starting an RV Park. The Orlando Sentinel recently released statistics showing that there were approximately 116 million people that visited Florida last year. For the most part, people either drive their vehicles, jump on a plane or even hop on a cruise ship to enjoy our sunny weather. However, a growing method for travel and visiting the sunshine state is through renting or purchasing an RV. When people purchase or rent RVs, they obviously need a place to park. From this, an RV Park is a great business opportunity.
To start an RV park, a first step that an entrepreneur should take would be to identify a locale in which to place the park. Popular locations include close proximity to beaches, national parks or large cities. Further, easy access and exit is critical for RV owner. From this, RV parks are often located near exits for major interstates such as I4, I95 or I75. Finally, when looking to start an RV Park, make sure to consider the pros and cons of purchasing an RV park as compared to building a park. For help with writing the business plan on this topic, make sure to contact one of our business plan writers.
4) How to Start a Restaurant in Florida.
Check out any website that posts businesses for sale and the disproportionate number of listings will be for restaurants. This phenomenon is partly due to the fact that when a business owner, such as a restaurant entrepreneur, builds profitable businesses, they often seek to exit the industry and start on a new venture. This shows that starting and running restaurants in the state of Florida is a great business opportunity.
When starting a restaurant in Florida, there are several factors to consider. First, the type of restaurant that you wish to start should be examined. Popular restaurant themes include Italian, Chinese, Thai, German and even Hawaiian. When making this decision, examining the competitors in the area should be done first. Really, who wants four different Chinese restaurants within a stone’s throw from the major intersection.
After this is complete, the next step would be to construct a menu for your proposed restaurant. When designing the menu, make sure to differentiate your products from local competitors. This may be done through innovative names or slightly changing ingredients to popular menu items.
A final preparatory step to story in starting a restaurant in Florida would be to negotiate buildout prices with contractors and the landlord. With this done, restaurant entrepreneurs are ready to embark on a lucrative profession.
3) How to Start a Construction Company in Florida.
At last count, Indeed has over 16,000 different listings for construction jobs. In other words, there is a whole bunch of construction businesses looking for people to hire. This shows not only that construction workers are in great demand but that construction businesses have more than enough work to go around. From this, our business plan consultants have found that starting a construction business in Florida is the number three most popular business to start in the state.
When starting a construction company, an entrepreneur should first take inventory of their construction related skills. Are you good with carpentry? How about concrete work? Make sure to start a construction company that is in line with your expertise.
With this done, a next step for starting a construction company in Florida would be to identify locations that best meet your future construction needs. For example, if your business will focus on selling doors and windows, make sure your warehouse is large enough to house inventory as well as receive large shipments of raw material.
A final factor for consideration when starting a construction business would be operational flow. In other words, how will your construction company receive raw material, store the material and prepare material for retail shipment. With these factors considered, our financial forecasting professionals predict great success in the industry.
2) How to Start a Bar / Lounge in Florida.
Our business plan consultants are of the opinion that bars and lounges in Florida far outpace the number of restaurants, seemingly, in the state. Course this is not true. But this shows the popularity of bars and lounges in Florida.
When starting a bar or lounge in Florida, there are several factors to consider to ensure success. A first consideration should be how you will differentiate your bar or lounge from local competitors. Some entrepreneurs choose to compete on price. In other words, they wish to offer specials, such as two-for-one drinks, to attract clientele. Other bars and lounges create themes focused on a female demographic. Their philosophy when doing this is that having women visit their establishment will inevitably attract men as well. Regardless, having a well-defined differentiating factor is a critical component for success.
A second consideration when starting a bar or lounge in Florida would be advertising. Traditional advertising for bars and lounges, such as Google ad words or amazing websites, are often not effective for this industry. A better mode of advertising is to create strategies focused on networking. Popular networking strategies include word-of-mouth methods, such as telling friends and family about your business, and joining business related groups, such as your local Chamber of Commerce. Regardless of your networking method, make sure to get out and talk to people about your future business idea.
1) How to Start an Ice Cream Shop in Florida.
Last month, September 2018, was hotter than the preceding three months, based on news reports. The sweltering heat has Florida residents flocking in groves to the nearest ice cream parlor or shop. From this, our business plan writers and business plan consultants claim that one of the best business opportunities in Florida is an ice cream shop.
A main consideration for ice cream parlors or shops is how to differentiate their product. Some ice cream establishments, such as Dairy Queen, choose to use low-grade products and rely on their brand recognition for sales. Other ice cream shops tend to use high end ingredients and hand make all their ice cream products in-house. This allows for premium prices. Further, even more people differentiate by offering a multitude of toppings for customers’ ice cream delight. Regardless of where you are in Florida, an ice cream shop is an amazing business venture for Florida entrepreneurs.
Do I need a business plan to take advantage of Florida business opportunities?
Having a business plan for exceeding in Florida is essential. For example, as you can see from the information above, starting a ice cream business requires numerous steps to be taken in sequential order. Without a detailed business plan for each step, unnecessary delays or additional costs may be an undeserved reward. To ensure a structured startup for your Florida business, work with a business plan writing professional.
Thanks for reading Quality Business Plan's blog. What are your thoughts about starting a business in Florida? Please share your thoughts and experiences in our comment section below.
Author: Paul Borosky, Doctoral Candidate, MBA.