Do you want to start a business in Florida, USA? If YES, here are 50 best profitable small business ideas & investment opportunities in Florida for 2020.
Florida is the 22nd-most extensive, the 3rd-most populous, and the 8th-most densely populated of the U.S. states. Tourism, industry, construction, international banking, biomedical and life sciences, healthcare research, simulation training, aerospace and defense, and commercial space travel, are strong points of the state, and have contributed immensely to the state’s economic development.
The Gross Domestic Product (GDP) of Florida as at 2016 was $926 billion. Its GDP is the fourth largest in the united states, and in 2010, the state was named the fourth largest exporter of trade goods. If you live in Florida and want to take advantage of the prosperous business climate to start a business, here are a few business ideas for you to consider.
50 Best Business Investment Opportunities in Florida for 2020
1. Fitness/recreation business: exercise has long been found to be the bedrock of healthy living, and almost everyone wants to boast of having visited the gym at least once or twice in a week. With this trend, opening a fitness center would surely pay you, and considering the population of Florida, you may likely make a success out of your business if you have the right marketing strategies.
2. Retail: retailing is not a novel business idea, but it is still thriving as far as the economy is still viable. If you have good marketing skills, you can choose a niche and start your retailing business. You can approach manufacturers and offer them your services. If you build trust with them, you could be given goods on credit for you to pay later.
3. Wholesale and distribution: similar to retail, you can start a business where you become wholesale distributor for companies. Note that this business may be a bit capital intensive, but you can also start it on your own capacity and expand it as you go along.
4. Advertising and promotion: with a lot of big and small businesses in Florida competing for the market, a business centered on advertising and marketing would be quite profitable in the state. If you are good with putting up promotional materials that can draw people to the products you are marketing, then maybe you should set up an advertising service.
5. Microbrewery: Microbreweries and craft beer remain greatly popular in the United States. The industry was worth more than $22 billion in 2015. If you are a craft beer hobbyist, it might be time to take your recipes to the next level. You could make unique beers and sell them at select pubs. The selling point for microbrewery is their emphasis on unique flavor, the quality of their beer and their brewing technique.
6. Food truck: The food truck industry is growing an alarming rate. In 2015, the industry’s total revenue was $1.2 billion, with a five-year increase of 12.4%. For those with big culinary dreams but small risk tolerance, food trucks are a winning alternative to restaurants. Food trucks are much less expensive to start and operate, and the failure rate of food trucks is much lower than conventional restaurants.
7. Remote employee monitoring: most employees need to be monitored before they can produce effective results. The interesting thing is that you don’t just monitor physical employees, you can equally monitor those that work remotely. Since the typical workforce is becoming more and more remote, so it then means that the remote employee monitoring service is booming. You can start this business and offer your services to organisations in Florida.
8. Virtual reality: the virtual reality world is really gaining momentum. It has been found that people bought over 12 million VR headsets in 2016. You can leverage on this healthy business to make money in Florida.
9. Healthy vending machines: the healthy vending machine industry is grossing over $42 billion because people now want to eat healthier. With about $30,000 to $225,000 at hand, you can become the operator/owner of a healthy vending machine franchise. This industry is still growing and it would not take much of your time because it is a mostly passive business.
10. Software school: If you are familiar with the use of specialized software, you can build a business around teaching people how to use everyday software like Photoshop, QuickBooks etc. You can start by giving private lessons where you charge hourly, then you can grow it into a small group session and charge for complete tutorials. You can always hire other specialists and diversify.
11. Kid-friendly apps business: Tens of millions of kids are using smartphones and tablets these days, and there is money to be made from this in Florida. You can start this business if you know how to develop apps, or in the alternative, you can hire people who do to help you set up the apps.
You may want to focus on health and wellness-driven apps first to get the parents on your side. Much later you can diversify into educational games and other stuffs that parents would be interested in getting their children.
12. Drone rentals: Now that the Federal Aviation Administration has finalized regulations to integrate drones into national airspace, the industry is now set to take flight. The demand for recreational drones is on a steady rise, followed by scientific research and surveillance drones.
Drone rental is now ripe to be considered when thinking of a new business, especially in technically advanced Florida. Drone flight instruction and certification are also other ways to make a tidy income off this niche.
13. Smartphone repair: Smartphone repair businesses like iDropped are going national, but there is room for more players. If you have a knack for smartphones and like the idea of running a business that fixes things, this is a solid route you can follow.
14. Gluten-free products: gluten free products are benefitting from a built-in customer base of those who suffer from Celiac Disease, but a lot of people have embraced this food trend. Because of this, it is estimated that gluten-free product sales would hit $2.34 billion in the United States by 2019. You can take advantage of this expanding industry and start a business selling gluten-free products. You can also give online courses on gluten-free dieting, food preparation and certifications too.
15. Niche pet services: The pet industry is doing really well right now, and by 2019, the market is expected to hit $92 billion, and a variety of recent start-ups have proven that with a little innovation and niche targeting, you can make good profits in the industry. Your pet niche services could be training dogs, teaching parrots to talk, potty training cats etc. With the number of families that have pets in Florida, you would certainly make good profits from this business.
16. Post-production video services: it is estimated that by 2020, video will account for 90 percent of all internet traffic. This is not all, there are also businesses that want videos made for training, events, special occasions, and others. Post-production is everything that happens to a video after the footage has been shot. This includes editing, motion graphics, music, titles, effects, compression, distribution, and so on.
17. Social media consultant: As the Internet landscape broadens, businesses are looking for more highly specialized advice. If you have particular expertise in specific platforms like Vine, Snapchat, Facebook Live etc. then you can pull down decent bucks by offering your services as a social media consultant.
18. SEO for local businesses: you can start this business just by building an optimized website that generates leads for businesses. As long as people are using their laptops or smartphones to find their next solar company, landscape architect, locksmith, real estate agent, etc., this business will thrive.
19. Project management: A project manager can be an asset on every project that involves multiple people, whether it is a home renovation project, a small business collaboration or a personal project.
20. Virtual call center: if you are reliable and have a highly professional telephone voice, a virtual call center business is a business idea you may want to explore. You can start this service from home and still make headway in the business.
21. Accountant or Bookkeeper: taxes are a certainty of life as far as the United States is concerned. People and businesses will almost certainly need help with bookkeeping and tax filing. If you have the necessary training and certifications, offering your services as an accountant can be a great idea for you.
22. Handmade Crafts: Do you have a passion for crafting and a desire to create a business based on your craft? A handmade crafts business may be the perfect small business idea for you to start in Florida.
23. Home-Based Child Care: If you love kids, if you are exceptionally responsible, if you have impeccable references, and can handle high-stress situations, a home-based child care business may be an excellent small business for you to start.
Many parents forgo commercial daycare programs or nannies, and look for home-based child care situations that allow their children to be watched in someone’s home with other children. This could be a great business you can take advantage of.
24. Life coaching business: If you are a compassionate, non-judgmental listener and want to create a business around helping others overcome personal challenges in their lives, a life coaching business might be for you. Life coaching is a growing field that helps people overcome life’s challenges.
25. Aquarium maintenance business: people in Florida are big on pets, and fish is one pet that is very popular in the state. Fishes are kept in aquariums and these aquariums have to be kept in top shape for both the beauty and health of the fish. You can explore if an aquarium maintenance business is the right small business for you.
26. Dog training: Some dogs require a little more training than others, and you might be able to help if you have the skills. If you love dogs and have extensive experience with dog training, this business idea may be perfect for you.
27. Dog treat bakery: Many dog owners treat their dogs like members of their family and love to give them healthy, homemade treats. You can start making and selling dog treats right from your home and make a tidy profit off it.
28. Pet couture: Pet owners love spoiling their pets, and many do so through the purchase of unique designer clothes, toys, and accessories, also known as pet couture. Since the economic climate of Florida is flourishing, people can afford to spoil their pets. You can start this business and you won’t become stranded in the middle of things.
29. Pet sitting: If you love pets and also love taking care of them, then starting a small business as a pet sitter may be a great business idea for you.
30. Data entry: If you are an exceptional typist with an eye for detail, explore what it takes to start a data entry business. Though the industry is vulnerable to scammers, but you can still carve a niche for yourself in this area.
31. Internet research: With the vast amount of information available online these days, being able to locate and validate information is a marketable skill. Do you have a knack for quickly finding relevant information on the Internet? If so, an Internet research business may be the perfect business idea for you
32. Credit Consultant: People can be hit hard financially when the economy is bad. As a credit consultant you can help people pay off debts, negotiate interest rates, and learn to make better financial decisions. By building relationships with local mortgage brokers, automobile dealers, loan officers and CPAs, you can create a referral program that helps you build a steady stream of clients.
33. Air duct cleaning business: Air ducts, or vents, move air throughout almost all buildings, including individual houses and commercial buildings. All of these ducts need to be cleaned to remove dust, debris and mildew, and to provide clean pollutant-free air to breathe. Because many homeowners don’t have the equipment, time or knowledge needed to clean their air ducts without help, an air duct cleaning business can be a very lucrative and successful business idea in Florida.
34. Childproofing business: a lot of new parents in Florida are still grappling with taking care of their new born, and have not yet considered if their homes are safe for their children. The fact that a lot of household accidents happen yearly makes childproofing a home very essential. You can offer this service to new parents who do not know where to start to make their homes safe for their children.
35. Specialty Food Services: a lot of people are on different diet plans, and would appreciate a food service where they can get food that is compliant with their diet needs. Another good thing about this industry is that it is hardly affected by economic downturn. You can sell specialty food products, provide an order and delivery service, or even prepare full meals to make it easier for customers to maintain their eating habits.
36. EBay consulting: An eBay consulting business may be the perfect business idea for an eBay pro who wants to help others use eBay effectively and generate a significant income. If you are that pro, you can set up this business right from your home.
37. Tech support: Florida is big with small businesses, and a lot of these businesses don’t have the budget to afford a full-time, in-house technical support team, making outsourced IT support a potentially lucrative business idea. You can provide network setup and maintenance services, data backup and recovery, software installation and management. Depending on your clients’ needs, your services can also include security measures and mobile device management.
38. Errand services: errand services is a good small business to start in Florida because a good number of residents there have no time to start running basic errands in the home. The errands may be domestic task around the home or even grocery shopping. You can get paid to carry out these errands by starting your very own errand service. You can also take your errand service online to be able to reach out to a wide range of people.
39. Flower delivery services: Florida means the land of flowers which invariably means that flowers are an accepted part of the culture. It should be noted that flowers are not only for valentine alone, there are also many other occasions where you can give someone a bouquet of flowers. Providing residents with home or door step delivery of flowers is a small business an entrepreneur can make profits from.
40. Ice Cream Shop Business: Ice cream is one of the most popular treats of all time, and it can also double as a very sweet business proposition in Florida. With enough capital, hard work, and the right ice cream supplies, you can make your dreams of operating a successful ice cream shop come true. Whether you will go the traditional route with scoops of ice cream or you choose a newer trend such as frozen yogurt, this small business is very profitable.
41. Fumigation Services: A typical agro allied related service business that an aspiring entrepreneur who is considering starting a business in Florida should consider starting is fumigation services. Fumigation is done to eliminate unwanted insects, weeds etc.
This business is easy to set up and you can equally run it from the comfort of your home. Note that you have to be knowledgeable about the various chemicals in use, and you have to apply and get the required licenses before you can be allowed to operate this business.
42. Roof Maintenance and Restoration Business: Roof maintenance and restoration business is yet another small business than a person can start in Florida. Roofs are subject to wear and tear due to the exposure to hash climatic conditions which is why after a period of time you will find out that a roof is leaking when it rains. As a roof maintenance and restoration business, you can help fix leakages in roofs and also replace worn out roofs with new ones, all for a fee.
43. Funeral home: Florida, with its warm weather and low-priced housing, has long been an attractive destination for retirement-age adults. Thus, 18.2% of the population is over 65, compared with the national average of 13.7%. This then means that the state is a good place to start and run a funeral home. You can start a funeral home business and make a decent income.
44. Yoga Studio: A lot of people are interested in Yoga because of the many health benefits that are derived from it. You can earn good profits from the subscription fees that people would pay you for using your yoga studio. If you cannot teach yoga, you can easily hire a yoga instructor that you can pay to teach your students.
45. Pick-up and Delivery Services: As you already know, a lot of brick-and-mortar businesses are setting up online versions and these people need people who can pick up the items, and deliver them to their customers. You can start with shipping locally, and then expand to shipping outside Florida.
46. Real Estate Agent: Another great idea is to become a real estate agent. You can earn impressive percentages from people who need to buy their own homes, people who need holiday apartments and residents of the city who need to rent good apartments
47. Lunch Delivery Services: Florida is a very busy state and its citizens are even busier, and such a lunch delivery service would best suit their needs since they have no time to make lunches for themselves. If you have good culinary skills, you can start preparing packaged lunch, and deliver them to busy employees.
48. Plumbing service: in recent time, it appears that plumbers are difficult to come by; and a lot of cities, including Florida seem not to have enough of this service. So if you are looking for a home improvement business to start in the state, then one of your options is to start a plumbing business.
It is almost general knowledge that you would need to acquire a plumbing skills if you intend starting a plumbing business. You can comfortably run this type of small business alone, but if you are overwhelmed by demands, you can hire one or more employees.
49. Open a Bookshop: a bookshop is another business idea that would fly high in Florida. People are always seeking knowledge and they never hesitate to read, so building a library in the city you reside would be quite profitable.
If you are considering starting this type of business, aside from the fact that you will be operating your bookshop from a facility (brick and mortar store) it will be to your advantage to also maintain an online book shop. It will give the online community an opportunity to patronize your book store.
50. Courier service: Courier and transportation services — both local and long-distance — are essential in any economy, because time sensitive materials always need to be transported from place to place. If you are willing to make deliveries in tight schedules, in all weather conditions and even on holidays, you can increase your chances of succeeding. Word of mouth marketing is a key element of growing this type of business, so make sure you ask for referrals once you begin to collect happy customers.