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Published: November 21 2022

Florida's economy relies heavily on travel and tourism, manufacturing, building construction, international finance, healthcare research, simulation training, aerospace and military, and commercial space flight. In 2016, Florida's economy generated a total of $926 billion in GDP. In 2010, it was ranked as the state with the fourth-highest GDP and fourth-highest exports of trade products in the United States. If you wish to start a company to take advantage of the state's growing business environment, here are the best business opportunities in South Florida.

Cleaning service

Starting a cleaning service is another viable business option in the Sunshine State. Since millions of tourists flock to Florida each year, the state is home to countless hotels and vacation rentals. Therefore, starting a cleaning business is an excellent option for those who want to work in a growing and stable field. It's also possible to avoid registering with the state of Florida's Department of Business and Professional Regulation by instead conducting business as a sole proprietor. Since then, you've had the option of filing for tax relief. When the time comes, and you need to bring in more dough, you can always take your small business to the next level and become more than just a sole owner.

Consultation on social media

Many organizations offer social media consulting services. But you may set yourself apart by focusing on platforms that are only gaining popularity among corporations. While Facebook and Twitter still dominate the social media landscape, less well-known platforms like Pinterest, Tumblr, Snapchat, and Periscope present unique business challenges.

The audiences on each platform are enormous, yet many businesses aren't aware of their existence. Let alone how to leverage them for their purposes. Periscope, Twitter's live-streaming service, has over 10 million active accounts, while Snapchat has over 100 million users, as reported by The Verge. Nearly 400 million people use Tumblr, and Instagram combined, while more than 100 million use Pinterest.

If you have experience with social media and deep knowledge of the various platforms, you might start a consulting firm that helps companies. This way, they will reach the tens of millions of users they are missing out on by focusing primarily on Facebook and Twitter.

The tour guide

You probably already know that Florida is a very common place to go on vacation. In addition, starting your own tour guide business is an excellent option if you are well-versed in the best destinations for tourists, making it one of the best business opportunities in South Florida. As a bonus to the work's flexibility and low entry price, providing tours is a popular profession. A strolling tour or hop-on, a hop-off bus tour of the area, are two possibilities. If you're set on staying in the tourism industry, one option is to launch your own water sports business. You'll be able to cater to both vacationers and residents seeking excitement and adventure every day of the week.

Food truck or a restaurant

A wide variety of national and international cultures are represented in Florida's 67 counties. That variety makes Florida a fertile ground for culinary and beverage experimentation. The food service business in the United States is predicted to increase by 3% between 2017 and 2022. That makes Florida a potentially promising location to open a food truck or restaurant.

There are benefits and drawbacks to each model. It takes more money, time, and resources to open a restaurant. At the same time, it might be difficult for mobile eateries like food trucks to find and keep consistent parking spots.

When growing your food business, keep in mind future predictions and current food trends like:

• The popularity of plant-based foods, especially those that mimic the texture and flavor of meat (such as veggie burgers and sausages), continues to rise.
• The ease with which you can establish a food truck in Orlando, acquire a business license, and put it to work is commendable.
• Starting a food truck business typically costs between $30,000 and $50,000.
• The preliminary investment for a restaurant in Florida could range from $175,500 to $750,500. The average cost to open a restaurant in the United States is about $375,000. Depending on location, fees per square foot could range from $100 to $800.

Microbrewery

The craft beer industry is expanding in the United States, following the trend of the food and service sectors. So, starting your own microbrewery can be the perfect fit if you're looking for one of the best business opportunities in South Florida. Tourists always flock to Florida, giving you a larger pool of potential customers looking to unwind and enjoy a craft brew while on vacation. That's why moving to South Florida might be your best opportunity.

Although, moving a business to South Florida and looking for commercial movers can be tricky and troublesome. However, you can ensure a stress-free transfer in no time. In addition, if you run a microbrewery, you can sell your beer in a far wider variety of places. Some include grocery stores, restaurants, food trucks, and your location.

Service for the Elderly

Fortunately, people nowadays have their sights set on Florida as a retirement destination. However, there are other openings to serve the needs of the elderly population, including transportation, grocery delivery, and even private nursing and medical care. Since 27.3% of Floridians are over 55, catering to their needs could be the most lucrative small business to launch in the state.

Grocery store

As long as you have sufficient management skills, opening a grocery store is one of the best business opportunities in South Florida. It's possible to turn a profit in Florida by opening your own grocery store as a franchise or specialty store. However, you must know your way around the building and the company. A typical supermarket's profit margin is around 1%. But a smaller, more specialized grocery store's margin could be approximately 10% to 12%. To create a small or medium-sized firm, you may need to invest up to $500,000. This is in addition to complying with the necessary licensing requirements.