Relocating to Florida – establishing a business in Florida
Those looking into relocating to Florida may have noticed that the E-investor visa means you and your family can settle permanently if you buy or start a business. Those hopeful of starting or buying a business in Florida should be aware that a minimum investment of $100,000 is required to qualify for this visa type. UK emigrants starting a new company have tended to focus on Florida real estate and catering and other retail businesses.
Starting a new business in Florida or buying an established business?
This is a question you must ask yourself if you hope to go into business in Florida. Buying an established business in Florida means established viability, reputation and customer base. This will also mean the purchase cost will be considerably higher than setting up a new business and will have to be weighed against your budget for relocating to Florida.
Starting your own business in Florida is obviously more risky. You must find the right piece of Florida real estate for your premises and carry out research to find out if there is a market for the goods or services you are offering.
It is vital that you set up your business in Florida in the right location. Central Orlando continues to experience large-scale inward migration and millions of tourists each month. The prices of Florida real estate are also more reasonable than in other areas of the state.
Franchises – a popular option for those relocating to Florida
Over 40% of retail purchases in the US are made at franchise outlets and many Brits relocating to Florida choose to operate a franchise branch of a large chain business. This allows you to start a new business in Florida whilst retaining the advantages of an established company. The company will deal with fitting out the Florida real estate you have located, training staff and other matters as part of the franchise price.
Over three times as many franchises as other new businesses are still in business within five years of opening and this is a serious option for those relocating to Florida. Franchising may be synonymous with fast food restaurants but car sales, post offices and dry cleaning are just some of the franchise options available.
Foreigners moving into the Florida real estate business
Florida real estate and property management is becoming increasingly popular with UK citizens relocating to Florida. Real estate businesses can vary greatly in size and stature but if you have money to invest it can undoubtedly prove a profitable business in Florida. If you are dealing in Florida real estate you may need to obtain relevant professional qualifications.
Other points to note about establishing a business in Florida
You will need a lawyer and/or an accountant to guide you through the process of setting up or buying a business in Florida. If you successfully obtain an E-investor visa for relocating to Florida it will be valid so long as the business is trading and is owned by yourself.
Although English is the language of the US, the jargon, business practices and systems are different to the UK. Tread carefully and do not make any hasty purchases of Florida real estate which prove to be unsuitable for business purposes or are in the wrong location.
