Buy a Business in Florida
Learn how to buy a business in Florida with this comprehensive guide. Explore a step-by-step process, discover top industries for acquisition, and find out how to finance your purchase with an SBA loan. Start your entrepreneurial journey in Florida's booming economy today.
Trying to be your own boss and escape the daily grind?
Few places offer more opportunity than the Sunshine State. Florida has become one of the most active markets in the country for small business acquisitions. Every year, thousands of companies quietly change hands here.
But if you want to buy a business in Florida, the real challenge is finding the right company and executing well. Understanding the ins and outs of the process can dramatically improve your chances of success—especially when it comes to structuring the deal to take full advantage of federal and state programs.
This guide cuts through the noise. It walks you through how to buy a business in Florida step by step: finding the right company, evaluating it properly, structuring the acquisition, and closing.
Buying a business in Florida starts here.
Florida's Economic Landscape: Why Buy a Business in Florida?
Florida has powerful economic forces that make the state a top choice for business buyers. Florida has a thriving economy with favorable trends that directly benefit business owners and would be business buyers.
Florida's Economic Powerhouse
- GDP: As the 4th largest state economy, with a GDP valued at approximately $1.76 trillion, Florida is a major player in the national economy. Economic forecasts predict a continued growth trajectory, with real GDP expected to expand by around 2.4% in 2025. This strong, stable growth provides a solid foundation for new and existing businesses.
- Population & Income Growth: Florida's population is projected to grow by 1.4 million residents between 2025 and 2030. This influx of new residents, coupled with a median household income of around $75,630, creates a continually expanding customer base with increasing purchasing power. This demographic trend fuels local demand and is a significant advantage for any business owner.
- Favorable Business Climate: Florida consistently ranks among the top states for its business tax climate, earning the #4 spot in the Tax Foundation's 2024 index. This ranking is driven by the absence of a state individual income tax, which reduces costs for both business owners and employees.
Trends Driving Business Growth
- Record Tourism: Florida's tourism industry continues to set new records, welcoming over 142 million visitors in 2024. The rebound and sustained growth of this sector present a massive opportunity, particularly for businesses in retail, hospitality, and service-based industries.
- Inbound Migration: A significant portion of Florida's population growth comes from inbound migration, particularly from high-income states like New York and California. These new residents bring capital and a demand for goods and services, directly fueling local economic activity.
- Robust Job Market: Florida's private sector job growth has consistently outpaced the national average. This signals a healthy, dynamic labor market and a steady flow of new customers.
What This Means for Business Buyers
For anyone considering buying a business in Florida, these trends are favorable indicators that buying a business in Florida has a highly optimistic outlook for future success. You'll be entering a market with the aim of taking advantage of a growing customer base, a robust tourism sector, and a business-friendly environment that can help your investment thrive.
How to Buy a Business in Florida in 8 Simple Steps
You've decided to take advantage of Florida's booming economy and buy a business in Florida. Now for the most important part: the process of buying a business. Business buyers greatly improve their chance of successfully acquiring a business when they follow a structured approach. Using a proven roadmap can help you avoid common pitfalls and ensure your investment is a smart one.
Here is the 8-step process for how to buy a business in Florida:
(1) Define Your Goals, Strengths, and Budget: Before you even begin to look at listings, clarify what you want to achieve. What are your non-negotiables? What type of business best fits your skills and financial resources?
(2) Build an Investment Thesis: Develop a clear strategy. What industries are you targeting? What criteria must a business meet to be a viable opportunity for you? The more granular you can get, the better.
(3) Understand the SMB M&A Landscape: Familiarize yourself with the small-to-medium business mergers and acquisitions market. This includes knowing valuation methods, financing options, and legal considerations.
(4) Network and Source Opportunities: This is where you find businesses for sale. This step involves networking with brokers, business owners, and industry professionals.
(5) Review Listings and Confidential Information Memorandums (CIMs): Once you've found potential businesses, you'll need to carefully review their financials and operational details.
(6) Meet Sellers and Ask the Right Questions: This is your chance to gain deeper insight. You'll need to prepare a list of key questions to ask the seller.
(7) Submit a Letter of Intent (LOI) and Conduct Due Diligence: The LOI outlines the terms of your offer. Due diligence is the thorough investigation of the business to confirm everything is as the seller represented.
(8) Sign the Purchase Agreement and Transfer Ownership: The final step is completing the legal paperwork and officially taking control of your new business.
Each of these steps is a critical part of the journey. For a comprehensive look at the process and what to expect at each stage, dive into our detailed guide below.
Where to Find Businesses for Sale in Florida
When you're ready to start the search to buy a business in Florida, you'll quickly discover that opportunities are found in two primary ways: through public listings (on-market) or through direct, private outreach (off-market). Understanding both methods is key to a successful search.
1. On-Market Listings: The Public Marketplace
On-market deals are those where a business owner has hired a professional advisor or broker to publicly list their company for sale. This is the most common and accessible way for new buyers to find opportunities. Think of it as the "Zillow" for businesses.
The best places to start your on-market search for a business in Florida are:
- Tupelo: Works directly with business brokers and business owners so business buyers’ inquiries are directly entered into the seller’s workflows. Tupelo has thousands of listings and the highest response rates.
- BizBuySell: Is the largest and most well-known online marketplaces for buying and selling small businesses. They feature thousands of listings across various industries and price points throughout Florida.
- Business Brokers of Florida (BBF): This is a professional association of licensed business brokers in Florida. Their Multiple Listing Service (MLS) is a centralized database of businesses for sale, providing a vast network of opportunities and a reliable source of listings from reputable brokers.
2. Off-Market Sourcing: The Direct Approach
Off-market is when you directly contact business owners to inquire if they would be open to selling their company. This strategy requires a significant amount of proactive effort, as you're initiating the conversation and will receive a large number of Nos.
Off-market sourcing is a numbers game and a relationship-building exercise. To make this process efficient, business buyers often:
- Utilize Lead Generation Tools: Modern buyers use tools like Clay or other sales enrichment platforms to build a targeted list of potential businesses. These tools can help you find contact information and key details about companies that fit your criteria, automating a process that would otherwise take hundreds of hours.
- Systematically Outreach: Once you have a list, you can launch a multi-channel outreach campaign. This might involve a combination of personalized emails, cold calls, and networking on platforms like LinkedIn to connect with business owners and introduce your interest in a confidential acquisition.
By exploring both on-market and off-market strategies, you will significantly expand your search and increase your chances of finding the perfect business to acquire in Florida.
Top Industries to Buy in Florida
While your personal skills and experience are the most important factors when deciding what type of business to buy a business, the state's booming economy presents unique opportunities in certain sectors. Savvy business buyers often look for industries that are profitable, recession resistant and have strong, recurring revenue streams.
Based on SBA 7(a) loan data and current market trends, here are the most sought-after industries for business acquisitions in Florida:
- Accommodation & Food Services
- Construction
- Retail
- Health Care & Social Assistance
- Professional, Scientific & Technical Services
To help you get more granular in your search, here’s a deeper dive into some of Florida's most promising industries for acquisition:
1. Senior & Child Care Services
- Why: Florida’s population is booming with both young families and a rapidly aging population, creating dual demand for both early childhood education and senior care services. This makes them highly recession-resistant.
- Financing: Consistently one of the top sectors for SBA 7(a) loans, both nationally and in Florida. These businesses are often seen as a low-risk investment due to stable cash flow and high barriers to entry from licensing and regulatory requirements.
- M&A Angle: The industry is highly fragmented, with many independent operators. This creates significant opportunities for a buyer to professionalize operations, improve efficiency, and potentially "roll up" multiple locations.
Find Businesses: Explore Florida businesses for sale
2. Aerospace & Precision Manufacturing
- Why: Florida is a top aerospace hub, home to Cape Canaveral and major defense contractors. Local manufacturers specializing in precision machining, composite materials, and electronics are positioned for consistent growth driven by both government and private contracts.
- Financing: Due to the capital-intensive nature of this industry, larger SBA 7(a) loans are common, often paired with SBA 504 loans for the acquisition of real estate and heavy equipment.
- M&A Angle: High barriers to entry and long-term contracts create defensible moats. Buyers with an operational background or industry expertise can leverage these strengths to scale the business.
Find Businesses: Explore Florida businesses for sale
3. Home Services (e.g., HVAC, Pool & Landscaping)
- Why: Florida's climate and constant influx of new residents create massive, ongoing demand for essential home services. From maintaining pools and lawns to repairing air conditioning units, these are non-discretionary expenses for most homeowners.
- Financing: SBA 7(a) loans are very active in this sector, particularly for acquisitions and working capital.
- M&A Angle: These industries are highly fragmented, rely on recurring revenue from maintenance contracts, and often have strong margins. Roll-up strategies are common, but there is still plenty of opportunity for an individual buyer to enter the market and professionalize a smaller operation.
Find Businesses: Explore Florida businesses for sale
4. Healthcare Services (Outpatient)
- Why: With the largest share of residents aged 65 and over in the U.S., Florida has an enduring demand for healthcare services. This includes physical therapy clinics, urgent care centers, dental practices, and assisted living facilities.
- Financing: Outpatient medical practices and assisted living facilities are frequently financed through SBA 7(a) loans.
- M&A Angle: This is a stable, high-demand sector with strong cash flow and regulatory barriers that limit competition. Many opportunities arise from the succession plans of retiring practitioners.
Find Businesses: Explore Florida businesses for sale
5. Hospitality & Lodging
- Why: Florida's tourism is a $100B+ industry, with year-round demand. This creates a strong market for independent hotels, boutique inns, and vacation rentals.
- Financing: SBA 7(a) loans are the preferred financing option for acquiring hospitality businesses, especially for transactions under $5 million.
- M&A Angle: Many properties are owned by aging operators, creating a ripe environment for a buyer to take over, professionalize operations, and upgrade the property to boost revenue.
Find Businesses: Explore Florida businesses for sale
6. Logistics & Distribution
- Why: Florida's expanding port infrastructure and strategic location make it a critical hub for global and national logistics. The surging demand for last-mile delivery creates a favorable environment for businesses in this sector.
- Financing: SBA loans are frequently used to finance the acquisition of equipment and to provide working capital for these businesses.
- M&A Angle: Regional distributors and trucking companies can be excellent acquisitions, offering stable cash flow and opportunities for growth through technology and operational improvements.
Find Businesses: Explore Florida businesses for sale
Ultimately, the best industry to buy a business in Florida is one that aligns with your expertise and capital, but the positive economic tailwinds in these sectors offer a powerful starting point for any prospective buyer.
Buying a Business in Florida Might Require a License
In Florida, certain industries require the business owner or a designated qualifying agent to hold a specific professional license to own or operate a business. This is particularly important if the business buyer is planning on purchasing the business with a SBA loan
How to Finance Buying a Business in Florida with an SBA 7(a) Loan
You don’t need to have a huge amount of capital to buy a business in Florida. The Small Business Administration (SBA), in partnership with private lenders, offers a powerful tool that makes business ownership more accessible: the SBA 7(a) loan. This program reduces the risk for lenders by guaranteeing a large portion of the loan, which in turn allows them to offer more favorable terms to small business buyers.
How It Works: The Standard Acquisition Structure
The SBA 7(a) loan is a popular financing method for a "change of ownership" or business acquisition. While some conventional loans require a down payment of 20% or more, an SBA loan typically allows you to finance up to 90% of the purchase price. The most common structure is:
- Buyer's Down Payment: 10% (from the buyer's liquid assets)
- SBA 7(a) Loan: 80-90% (financed through an SBA-approved lender)
- Seller Financing (Optional): This can make up the remaining percentage, typically 10% of the purchase price. The seller agrees to be paid back over a set period, which shows the lender that the seller has confidence in the business's continued success.
Example: For a $1,000,000 business purchase:
- Buyer Down Payment: $100,000
- SBA 7(a) Loan: $800,000 (or $900,000 if there's no seller note)
- Seller Financing: $100,000
What Lenders Look For
While an SBA 7(a) loan is a fantastic option for buying a business in Florida, the application process is rigorous. Lenders want to ensure that you, the business, and the deal itself are all a good fit. They will require extensive documentation to verify your financial health, experience, and the viability of the business.
To streamline the process and avoid delays, be prepared to provide:
- Personal Financial Documents: Including personal financial statements, SBA Forms 413 and 1919, proof of citizenship, and two to three years of personal tax returns.
- Professional Background: A resume or other documentation that proves your management and industry experience. Lenders want to see that you have the skills to run the business successfully.
- Deal-Specific Documents: A business purchase agreement, Letter of Intent (LOI), and a business plan outlining your transition and growth strategy.
- Business Financials: The seller's financial statements and tax returns (usually for the past three years). The lender will analyze the business's cash flow to ensure it can support the new debt.
Pro Tip: To get a head start and demonstrate your seriousness to sellers and brokers, aim to get a pre-qualification letter from an SBA lender early in your search. This letter shows that you've been vetted and are likely to be approved for financing once you've found the right business.
Click here to get pre approved for a SBA loan.
Financing Options other than SBA 7a
Conclusion
Ultimately, buying a business in Florida is a strategic decision. The state’s economic momentum, favorable tax climate, and wide range of financing options make it one of the most attractive places in the country for small business acquisitions.
By now, you have a clear roadmap for how to buy a business in Florida: understanding the market, finding the right opportunity, structuring the deal, and securing capital. The opportunities are out there. Now it’s about building your process, iterating, and finding the right business to make your own.
Best of luck—and don’t hesitate to reach out with any questions.