Florida’s allure as a top destination stems from its warm climate, attracting families seeking respite from winter, retirees drawn by excellent healthcare and tax benefits, and entrepreneurs enticed by its lack of income tax and thriving economy. With its affordable housing and absence of estate tax, Florida beckons dreamers to start anew.
Whether you’re a native or a newcomer with entrepreneurial aspirations, explore our guide to the best businesses to start in Florida.
10 Best Businesses To Start in Florida
1. Real Estate
Florida stands out as a prime relocation spot, particularly for retirees seeking an ideal haven. Over 1,200 individuals relocate here daily, each in search of suitable housing options. Investing in real estate in Florida is also a good passive income option. The median cost to sell a house in the sunshine state is around 11.69% of the home’s absolute sale value. Establishing a real estate venture demands familiarity with legal intricacies, yet promises substantial returns. Real estate agents typically earn an annual average income of $61,467, reflecting the state’s lucrative property market.
2. Auto Repair Workshop
Consider launching an auto repair business in Florida. Unlike some states, Florida doesn’t require certification for automotive technicians, making entry easier. If you’re adept with cars, kickstart your venture swiftly. However, note the initial investment—leasing commercial space, procuring tools, and equipment. Despite costs, earnings potential of this successful business is substantial, averaging around $24 per hour.
Related Guide: How to Start a Car Company: A Step-by-Step Guide for Aspiring Entrepreneurs
3. Cleaning Business
As per data from the Florida Department of Business and Professional Services, the state boasts 455,377 hotel and motel rooms (as of May 2021), along with 6.6 million individuals renting out their homes to Florida vacationers. These statistics present a compelling case for the viability of a cleaning business in the Sunshine State.
4. Food Business (comprising Breweries)
Many individuals prefer dining out and are willing to pay extra to avoid cooking. Florida’s foodservice sector is valued at $50 billion, presenting an opportunity for entrepreneurs. Traditional restaurant ventures can be costly; explore alternative options like food trucks or breweries with lower startup expenses for quicker profitability.
5. Landscaping
With Florida’s perpetual sunshine, yard work remains a year-round affair, creating a ripe opportunity for a landscaping venture. Opt for routine tasks like mowing or elevate your service with personalized garden design for enhanced curb appeal. Projected to expand by 3 percent till 2032, this sector offers a promising prospect, making it a prime choice for budding entrepreneurs eyeing the Florida market.
6. Senior Care
Florida boasts a higher median age compared to many states, largely due to its popularity among retirees. This demographic trend indicates a ripe market for in-home senior services, catering to those seeking assistance while preserving independence. Services could encompass light housekeeping, meal preparation, medication administration, transportation for appointments and errands, and offering respite for family caregivers. Launching such a venture may require little more than reliable transportation and genuine compassion for elder care, bypassing the need for substantial Small Business Administration loans.
7. Personalized Tours
Florida stands out as a holiday spot for more than 100 million Americans annually, catering to diverse preferences beyond Disney. Its coastal abundance and scenic wonders offer opportunities for tailored excursions, such as fishing expeditions, scuba diving adventures, Everglades airboat rides, day jaunts to Key West, and Miami shopping escapades.
8. Organic Farming
Interest in organic produce and dairy is increasing, and Florida’s climate offers ideal conditions for launching an organic farming venture. If you’re passionate about sustainability and enjoy collaborating with nature, this state could be your ideal business launchpad.
9. Fitness
Prioritizing personal wellness is a significant commitment, underscored by its commercial aspect. With the proliferation of step-tracking apps and calorie counters, establishing a fitness center represents an investment not only in physical health but also in financial prospects. This rings particularly true in Florida, where the inclination to showcase beach-ready physiques surpasses that of locales like Minneapolis.
10. Consulting
Florida boasts a thriving sector for brand management and professional services. Launching a consultancy stands out as a prime venture in the state, requiring only a laptop and high-speed internet. With Florida’s absence of state income tax and focus on service-based offerings, your financial obligations narrow down to federal taxes alone.
Final Thoughts
Choosing the best business to start in Florida hinges on your unique skills and passions. This compilation offers a solid foundation for selecting services to provide in a thriving market. Seize the opportunity to establish a new enterprise and leverage the tax advantages of Florida’s absence of state income tax, attracting numerous entrepreneurs. Determine the suitable business structure and assess your financial capacity for AI startup expenses. With a diverse array of options, there’s a fitting choice for every aspiring entrepreneur.