Key Takeways
- Florida—which recently passed New York to become the third most populous state—is one of the fastest-growing states in the nation.
- The best franchise to open in Florida will depend on a lot of different factors, such as where in Florida you plan to open the franchise, your target market, and the amount of capital you currently have available.
- If there is any industry that is conducive to success in Florida, it is the fruit juice and smoothie industry.
- Florida is one of just a few states in the country that can reliably grow tropical fruits throughout the year. The state is well known for its supply of oranges, other citruses, and other tropical fruits that require high levels of humidity and warmth.
What are the best franchise to own in florida
Florida—which recently passed New York to become the third most populous state—is one of the fastest-growing states in the nation. In fact, between 2010 and 2020, the Sunshine State grew by an impressive rate of 14.6%. That figure is well above the national average and has helped the population of Florida rise to more than 22 million.
With the growing population and the potential for business growth, many entrepreneurs are exploring the best franchise to own in Florida. As the population of the State of Florida continues to increase, entrepreneurs from both within the State and across the country have begun looking for new opportunities. Given the current trends, opening one of the best franchises to own in Florida certainly provides a lot of potential for growth.
Of course, when considering the best franchise to own in Florida—or any state, for that matter—there are a lot of important things you’ll need to keep in mind. It’s not just about picking out a product or service. To thrive in this competitive market, a well-developed business plan is crucial.
One of the first questions you’ll need to answer is: do you want to invest in one of the best franchises to own in Florida? The franchise model, especially popular in the food service industry, involves the franchisee (potentially you!) paying the franchisor a predetermined franchise fee. In return, the franchisee gains benefits like service support, marketing and branding, consultation, and more.
By the end of 2021, there was an estimated 58,885 franchises operating in Florida. This number saw an increase by about 3.3% during 2022, outpacing even the population growth for that year. Currently, it’s estimated that about 61,000 franchises are operating within the state, with many of them being the best franchise to own in Florida.
The sheer number of franchises in Florida is staggering, with more than one franchise per square mile. The potential for future growth is undeniable, and it’s possible that another 2,000 of the best franchises to own in Florida could open in the coming year.
To ensure success, it’s crucial to select the right franchise and operate it efficiently. This guide will delve into the nuances of opening a new franchise in Florida, focusing on those that promise strong revenue streams.
Getting to Know Florida—A State Unlike Any Other
Before further discussing the best franchises to own in Florida, it is important to understand what makes Florida’s franchising environment unique. Florida, in many ways, is an anomaly of a state—in many cases, this can be great for business.
Let’s start with the weather. Other than Hawaii, Florida has the highest average January temperatures in the country. This means that, contrary to some of the colder states up north, many franchises that rely on outdoor seating (such as beachside smoothie franchises) can comfortably seat their guests outside all year round. Despite receiving a burst of light rain nearly every day, Florida is also unusually sunny (hence its nickname), which also bodes well for businesses near beaches.
Speaking of beaches, Florida has the longest total coastline of any of the 48 contiguous states. When combined with the excellent weather and popular theme parks (Disney World, Universal Studios, Sea World, and more), Florida has established itself as a key vacation destination.
The tourism industry plays a huge role in Florida, currently accounting for about 6% of the state’s GDP and as much as 14% of the state’s employment. In 2019, the state set a record with 131 million tourists (distributed relatively evenly throughout the year). The strong presence of tourism makes Florida an especially attractive franchise destination—tourists love franchises because not only do they tend to choose places they recognize, but they also are usually looking to spend money eating out.
There are plenty of other anomalies that can be found across the State of Florida, as well (and we haven’t even started to talk about the alligators). The state’s relatively high age, second only to Maine, helps alter the economic dynamic even further. States with a higher number of retirees tend to have consumer spending more evenly distributed over the course of the day, which is yet another reason why appeals to aspiring franchisees.
But perhaps most importantly, it is also important for franchisees to note that Florida is consistently ranked among the business owner-friendly states in the country. There are quite a few reasons why this is the case:
· No corporate income tax or personal income tax: one of the reason why it is one of the best franchises to own in florida opening a business (or even just working) in Florida is that you do not need to pay any state income taxes. When comparing to other states, those who opt for the best franchise to own in Florida could potentially see an improvement in their bottom line by five percent or even more.
· Wide range of exemptions: even when Floridians are required to pay taxes (such as operating taxes, property taxes, sales taxes, and others), there are still a lot of pro-business exemptions they can use to decrease their total bill. If you open a franchise in Florida, be sure to keep close track of all deductible expenses.
· Qualified Target Industry Tax Refund (QTI): if you open a business within a qualified industry (which changes over time), then you might be eligible for a significant tax refund. This is especially true for businesses, such as food franchises and other types of franchises, that create large amounts of jobs.
· Capital Investment Tax Credit: the capital investment tax credit (CITC) makes it easier for Florida business owners to invest money back into their business, helping to make it significantly easier for your business to achieve its growth objectives.
Keeping all of these factors in mind, there should be little surprise that Florida was recently named the second-best state to start a business (only Texas received a higher ranking). It is likely that more than 10,000 new businesses will be established in Florida over the course of 2023 and at least 2,000 of these businesses are likely to be franchises. The state’s favorable business climate, coupled with its reputation for tourism and diverse economy, makes it an ideal location for those aiming to invest in the best franchise to own in Florida.
So, what are the best types of franchise to own in the state of Florida?
THE BEST FRANCHISE TO OWN IN FLORIDA
The best franchise to open in Florida will depend on a lot of different factors, such as where in Florida you plan to open the franchise, your target market, and the amount of capital you currently have available.
This is why it is so important for aspiring franchise owners to do their research, speak directly with their prospective franchising partners, and explore multiple different options. That being said, there are a few types of franchises that have proven to perform exceptionally well throughout the Sunshine State. These include:
Warm Weather Franchises
Tourist-Focused Franchises
As suggested, Florida is one of the most popular tourist destinations in the United States. Tourists spend billions of dollars a year across the state. And even if a tourist is only spending a few days in Florida, they are still likely to spend more than $100 on food and beverages. Any franchise that can offer a friendly, familiar, and welcoming dining experience—especially a fast-casual experience for under $20—will likely connect well with the state’s millions of annual tourists.
Accessible Franchises
Year-Round Franchises
Broad Appeal Franchises
Florida is an increasingly diverse state, populated by people of many different demographic, geographic, cultural, and socio-economic groups. In fact, Florida is one of the states that most closely resembles America as a whole. As a result, anyone who aspires to be a successful franchise owner in Florida will need to be able to appeal to a very broad base. This is especially true for franchises in industries that depend on high sales volumes, such as the quick service industry.
Fruit-Based Franchises
Florida is one of just a few states in the country that can reliably grow tropical fruits throughout the year. The state is well known for its supply of oranges, other citruses, and other tropical fruits that require high levels of humidity and warmth. Any franchise that takes advantage of Florida’s excellent fruit supply will be able to immediately establish a competitive advantage.
Not every franchise that opens its doors in Florida is guaranteed to succeed. The same can be said about every other location. But if a franchise is able to offer a product with multiple elements mentioned above—broad appeal, tropical and fruit theme, year-round availability, tourist focus, and accessibility—that franchise will be very likely to succeed.
As you can see, there are a lot of things you’ll need to consider when evaluating the best franchises in Florida. That being said, are there any that fit all of the criteria mentioned above?
Pure Green: The Perfect Floridian Franchise
Pure Green franchise ownerIf there is any industry that is conducive to success in Florida, it is the fruit juice and smoothie industry. Florida—a state that is more associated with fresh fruit juice than perhaps any other—has a strong market for quick-service juice franchises, combined with a reliable workforce and a steadily increasing population.
And of the fruit juice and smoothie franchises that are currently available for franchising in the Sunshine State, there are none stronger than Pure Green.
Originally established in New York City, Pure Green is a process-driven, quality-focused franchise that has been rapidly expanding into new states. The award-winning franchise consistently receives recognition for its fresh and healthy ingredients, its excellent customer experience, and the robust franchise structure it provides its franchisees.
As a result, the average Pure Green store generates more than $700,000 (as shown in the item 19 of the 2022 FDD) in sales per year. Additionally, the franchise’s relatively low franchise fee (about $30,000) makes it much more accessible than many of the available alternatives.
By becoming a Pure Green franchise owner, you will immediately be able to tap into the company’s rich supply of resources. To start, you’ll have immediate access to the company’s branding and marketing materials which have helped cause Pure Green to become a recognized, respected organization.
Additionally, franchise owners will be connected to other necessary resources, such as financing programs, professional support (legal and accounting support), supply chains, and more.
These resources, combined with continual guidance from the franchise, help make it possible for franchise owners to immediately start generating revenue and—quickly—turn a profit.
So, does this mean that Pure Green is the best franchise to open in Florida?
While we, as the Pure Green team, might be a little biased, we believe every component of this franchise makes it perfect for the Sunshine State.
We’d love to help you learn more about opening a Pure Green franchise of your own.
