Florida, the Sunshine State, home to beaches, swamps, gators and nearly 20 million potential customers. If you choose to open a franchise in Florida, you will be blessed with great weather (mixed with a few hurricanes), a diverse population and no income taxes!
Overflowing with Opportunities
No matter where you go in Florida, you’ll never find yourself too far away from the water. Here are a few of the biggest cities, but don’t count out others such as St. Petersburg, Tallahassee, Boca Raton or Coral Springs:
Miami: If you like clubs, the beach and an artsy scene, Miami is for you. This area has a distinct Latin America vibe and lots of tourism.
Jacksonville: The largest city in Florida, both in terms of population and city size, with the metropolitan area clocking in at 1,345,000 residents.
Tampa: This city has a variety of performance spaces, museums, restaurants and theme parks, making it a great place to open a business.
Orlando: The theme park capital of the world, Orlando sees tourists all year long, and also has a thriving film and entertainment industry.
One great reason to open a franchise in Florida is the lack of taxes. There is no franchise or business privilege tax, and there’s also no personal income tax.
Unless your company is a corporation (in which there is a corporate income tax), you don’t have to worry about taxes in Florida!
Because Florida is filled with thousands of miles of beaches—and thousands of beach bodies to match—consider opening one of these franchises:
Gym Franchises: In order to look good in a swimsuit, everyone needs to work out first!
Tanning Franchise: Even though the sun is out most of the time, Floridians still will need to tan through the year to keep that sun-kissed glow.
Smoothie Franchise: A cool, refreshing and healthy smoothie place could really be a hit with beach-going Floridians and tourists.
By the Numbers
There are 2.1 million small businesses in Florida, accounting for 98.9 percent of all employers.
Florida is the fourth most populated state with 19,552,000 residents.
Almost 20 percent of the population speaks Spanish.