Starting a Small Business in Florida

Welcome to the Small Business Startup Florida Franchise Directory! Here, you’ll find everything you need to begin your journey to business ownership in The Sunshine State. If you’re thinking about starting a small business in Florida, read on for an overview of the state economy. Afterward, explore business opportunities and franchises for sale with our Florida Franchise Search Tool.

Florida Industry Trends

If an industry is performing well, business opportunities within it are often worth exploring. Begin your market research with this list of the Florida economy's largest industries in 2022. Afterward, take your research one step further by investigating niche markets and B2B opportunities within one of these top revenue-generating industries.

1. Professional Employer Organizations (Revenue: $115.3 billion)
2. New Car Dealers (Revenue: $91.4 billion)
3. Hospitals (Revenue: $70.9 billion)
4. Gasoline & Petroleum Wholesaling (Revenue: $59.4 billion)
5. Health & Medical Insurance (Revenue: $58.1 billion)
6. Supermarkets & Grocery Stores (Revenue: $56.7 billion)
7. Property, Casualty & Direct Insurance (Revenue: $52.9 billion)
8. Public Schools (Revenue: $49.1 billion)
9. Commercial Banking (Revenue: $46.4 billion)
10. E-Commerce & Online Auctions (Revenue: $43.7 billion)

Florida Sector Statistics

When starting a small business in Florida, gross domestic product (GDP) is another tool that entrepreneurs can use to make investment decisions. Generally, a steadily rising GDP means that people are spending more money and more jobs are being created.

The three sectors that contributed most to Florida’s GDP in 2022 were Real Estate, Rentals & Leasing; Healthcare & Social Assistance; and Professional, Scientific & Technical Services. Combined, these three sectors represented 38.7% of the state’s GDP. In 2022, sectors that contributed most to Florida’s GDP included:

1. Real Estate, Rentals & Leasing (Value: $189.8 billion* | Annual growth: 3.5%)
2. Healthcare & Social Assistance (Value: $89.4 billion* | Annual growth: 3.2%)
3. Professional, Scientific & Technical Services (Value: $87 billion* | Annual growth: 6.2%)
4. Retail Trade (Value: $76.8 billion* | Annual growth: 1.9%)
5. Wholesale Trade (Value: $71.3 billion* | Annual growth: 2.1%)
6. Finance & Insurance (Value: $68.4 billion* | Annual growth: 9.2%)
7. Manufacturing (Value: $58.6 billion* | Annual growth: 4.4%)
8. Media Creation & Distribution (Value: $58.3 billion* | Annual growth: 7.5%)
9. Administration, Business Support & Waste Management Services (Value: $49.2 billion* | Annual growth: 9.7%)
10. Construction (Value: $48 billion* | Annual growth: 2.6%)
11. Accommodation & Food Services (Value: $30.2 billion* | Annual growth: -20.2%)
12. Transportation & Warehousing (Value: $26 billion* | Annual growth: -1.3%)
13. Management of Companies & Enterprises (Value: $24.9 billion* | Annual growth: 11.0%)
14. Utilities (Value: $15.1 billion* | Annual growth: -2.3%)
15. Arts, Entertainment & Recreation (Value: $14.3 billion* | Annual growth: 3.5%)
16. Educational Services (Value: $8.6 billion* | Annual growth: -1.5%)
17. Agriculture, Forestry, Fishing & Hunting (Value: $7.3 billion* | Annual growth: 15.6%)
18. Mining (Value: $1.5 billion* | Annual growth: 1.8%)

*Approximately

Florida Population Statistics

A growing population often means greater demand and a steady flow of new customers. If you are undecided about the location of your new business, start by investigating population statistics. Afterward, take your research a step further by exploring population demographics. By doing so, you can decide whether a location is a good match for your target market.

In 2022, counties with the highest populations in Florida included:

1. Miami-Dade (Population: 2.7 million | Annual growth rate*: N/A)
2. Broward (Population: 2.0m million | Annual growth rate*: 0.4%)
3. Hillsborough (Population: 1.5 million | Annual growth rate*: 1.6%)
4. Palm Beach (Population: 1.5 million | Annual growth rate*: 0.8%)
5. Orange (Population: 1.4 million | Annual growth rate*: 1.0%)
6. Duval (Population: 984,400 | Annual growth rate*: 0.9%)
7. Pinellas (Population: 982,500 | Annual growth rate*: 0.3%)
8. Lee (Population: 827,500 | Annual growth rate*: 2.3%)
9. Polk (Population: 784,800 | Annual growth rate*: 2.7%)
10. Brevard (Population: 623,400 | Annual growth rate*: 1.2%)
11. Pasco (Population: 602,800 | Annual growth rate*: 2.8%)
12. Volusia (Population: 577,200 | Annual growth rate*: 1.4%)
13. Seminole (Population: 481,300 | Annual growth rate*: 0.7%)
14. Sarasota (Population: 459,900 | Annual growth rate*: 1.8%)
15. Manatee (Population: 429,400 | Annual growth rate*: 2.2%)
16. Osceola (Population: 408,100 | Annual growth rate*: 2.9%)
17. Collier (Population: 407,400 | Annual growth rate*: 1.8%)
18. Lake (Population: 395,200 | Annual growth rate*: 2.6%)
19. Marion (Population: 387,400 | Annual growth rate*: 1.8%)
20. St. Lucie (Population: 354,600 | Annual growth rate*: 2.5%)

*From 2017 to 2022.

Florida Business Opportunities

We hope this snapshot of the Florida economy helps as you investigate business opportunities in The Sunshine State! Starting a small business in Florida is an exciting journey, and we know you’re probably eager to get started. But remember, take your time to explore all your options. While you’ll always have the “opportunity” to start your own business, sometimes, it makes more sense to invest in an opportunity that already exists. These are called “Franchise Opportunities,” and they offer several benefits, including the recognition of a well-established brand and a proven track record of success.

To learn more, start by exploring franchise opportunities in Florida, below!