Florida is a great place to open a restaurant in 2016. The number of restaurants in South Florida is greater than ever. Hundreds have popped up in the last 10 years. North Florida is home to many cities with a booming foodie scene, including Jacksonville. With the Downtown revitalization and the expansion into the Brooklyn area, Jacksonville is a great location to open a restaurant, purchase an existing one, or enter a franchising agreement.
Florida is also ranked in the top 10 best regulatory climates for small businesses. The excellent ranking was based on “burden” factors like Florida’s unemployment insurance cost, state worker’s compensation programs, and minimum wages.
No restaurant is complete without a menu of beverage options. Alcoholic beverages tend to make up a big portion of a restaurant’s profit margins. In order to sell alcohol, you will need a special alcohol license. This is true whether you plan to open a restaurant, open a wine retail store, or make and sell the alcohol yourself. If you plan to import alcoholic beverages, you likely need a separate alcohol importation registration and an alcohol distribution agreement.
If you would like to take advantage of the lucrative restaurant market in Florida and purchase a restaurant, you should consult with a business attorney that has experience in restaurant business transactions. This will help ensure that you get the best negotiated price and that your assets are protected at every step of the way.
If you have a business concept you want to make a reality or you want to improve an existing restaurant, you should schedule a business planning session. A business planning session is tax-deductible and will leave you with a clear legal audit of your business as well as a preventative business law analysis.
Invest wisely in Florida’s Booming Restaurant Market by consulting with a business attorney before you sign any contracts.