As of 2023, only nine states don’t levy a state income tax. And for many people, they’ve got their eye on Florida.
If you want to take advantage of the lack of income tax in this state, then the best way to do so is to start your own company. This gives you a source of income without having to answer to someone else.
But where should you start? The business ideas Florida offers are numerous, so you need to narrow things down before you take action.
Here’s some inspiration for the best business to start in Florida, based on popular lucrative industries.
1. Tourism
In 2022 alone, 137.4 million people visited Florida, which meant they contributed $101.9 billion to the state’s economy. As you can see, tourism generates significant income for the state, so it’s a great industry to explore when searching for business opportunities in Florida.
Depending on your strengths and where you want to set up your business, there are several areas to consider. For example, if you’d like to invest in real estate, then you can manage vacation rentals. Otherwise, if you have knowledge of or passion for certain areas in the state, you can create a tour guide company.
Do you have a knack for finding the best travel deals and planning itineraries? Then you should try your hand at running a travel agency.
2. Real Estate
If the vacation rental idea above sounded interesting, then you might want to into real estate further.
For instance, you could become a real estate investor. You can either rent out your properties or flip them for a profit. Whether you rent or sell, you’re bound to be successful. Florida has a rapidly growing population and beautiful weather, so people are bound to stream into your properties.
For a more hands-off approach that doesn’t take a huge upfront investment, you can own a real estate or property management company instead. Other entrepreneurs will have similar ideas of getting into real estate, and they’ll want a helping hand in acquiring and maintaining their properties.
3. Health and Wellness
In general, Floridians are health-conscious, and luckily for you, there’s a wealth of easy businesses to start here.
For one, you can open a gym. While there are myriads of other gyms in the state already, you can cater to a niche audience to attract customers to your establishment.
Or you can create a wellness retreat or yoga studio, where people can rest and rejuvenate their bodies and minds. Other options include selling essential oils or workout clothing and gear.
If you’re interested in the culinary field, then you can combine it with your passion for health and wellness. Not only can you be a dietary supplements supplier, but you can also bring a wholesome food restaurant to the scene, especially in an area that’s lacking.
4. Food and Beverage
On that note, you can focus your efforts solely on providing food and drinks to Floridians. While you can go the traditional route of restaurants and cafes, smaller yet more special concepts are catering services and food trucks.
Whatever you choose, ensure that you offer unique or local cuisines. You should cater to the tastes of the area, but don’t be afraid to put your own twist on things.
5. Outdoor Adventure and Recreation
Florida has gorgeous weather, so you can count on both locals and tourists alike to participate in outdoor activities. Focusing your company on things like kayaking and paddleboarding can be lucrative.
For those who have environmentally conscious minds, research what you can do for ecotourism. Not only will this aid conservation efforts, but it’ll educate the public on what they can do to help too.
6. Home Improvement and Maintenance
Wherever you go in the world, homeowners will need assistance maintaining and upgrading their properties, and Florida is no exception. While they can certainly DIY projects, there are plenty of people who are more than willing to pay experts to do the jobs for them.
We already mentioned home improvement and property maintenance, but another idea is landscaping. People love to have perfectly manicured yards to show off, so you won’t be short on customers.
7. Senior Care Services
Florida has a significant retiree population, and not many entrepreneurs give this industry a second thought. This is your opportunity to secure a place in an area that’s sure to withstand the tests of time.
You don’t have to start an assisted living center either. Other avenues you can take include home healthcare services, independent living, and hospices.
8. Technology and E-commerce
Florida has a fast-growing tech scene; moving on it would be a wise choice. The world’s your oyster, as long as you do your due diligence and fill a niche that others haven’t really discovered yet. Some ideas include software development and digital marketing, as well as dropshipping.
Most of the business concepts here can be done remotely, meaning you don’t have to actually be in the state to operate your company. This makes things a lot simpler for entrepreneurs who don’t wish to relocate.
If this sounds like you, then have Business Anywhere take care of business registration for you. We can also provide you with a virtual mailbox in Florida as part of our services, as well as be your online notary. Within a few days, you’ll have an officially registered company, and you’ll be able to hit the ground running.
Choose the Best Business to Start in Florida
The best business to start in Florida won’t be the same for everyone. So if you have acquaintances, colleagues, or loved ones who have struck gold in this state, that doesn’t necessarily mean you will too if you follow in their footsteps.
Instead, play to your strengths and choose something that suits your personality. From there, you’ll have a higher chance of creating the most profitable small business in Florida.
If you’ve found an idea you like and want to get started, then sign up with Business Anywhere now. You can get up and running with just a few clicks.
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