Buying a recreation or entertainment business in South Florida

• Several revenue sources: admissions plus parties, events, food and drink, and memberships. Each one gives visitors another reason to spend while they're there.
• Bookings that hold up outside peak tourist season, with a local customer base that returns.
• Rides, equipment, boats or a golf course in good condition, with records to prove it.
• Indoor or shaded options, so afternoon storms and summer heat don't empty the place.
• A secure lease or owned property, with zoning that fits the use.
• A strong group sales business: schools, companies, churches and birthday parties.
• A clean safety record and insurance at reasonable terms.
• A manager who runs the operation without the owner.

• Revenue by month for three years, to see swings from the seasons, weather and tourism.
• Revenue and margin by source: admissions, food and drink, parties, memberships.
• Every permit and license, who holds it, and what it takes to move it to you.
• Ride and equipment inspection records, accident reports, claims and lawsuits.
• Insurance cost and availability. Coverage can be hard to find for some attractions.
• For golf: course condition, irrigation system age, the water use permit's terms and transfer deadline, and maintenance equipment.
• For charters: vessel surveys, Coast Guard paperwork, captain arrangements, and any federal charter permits for fishing federal waters (some are limited in number, so ask how they transfer).
• The lease, or if the property is included, its value and condition, judged separately from the business.
• Hurricane damage history and how insurance handled it.

• What are your busiest and slowest months, and how big is the difference?
• Which parts of the business make the most money?
• What permits and licenses does the business run on, and who holds them?
• Have you had any injuries or claims, and how did you handle them?
• How do you find and keep seasonal staff?
• How much of your business is parties, groups and events?
• What major repairs or replacements are coming up in the next few years?

South Florida covers Miami-Dade, Broward, Palm Beach and Monroe counties: Miami, Hialeah, Doral, Fort Lauderdale, Hollywood, Pompano Beach, West Palm Beach, Boca Raton, Jupiter, and the Florida Keys down to Key West. It's the state's largest metro area and its most international. PortMiami, Port Everglades and Miami International Airport tie the region to Latin America and the Caribbean, which supports a deep base of wholesalers, freight forwarders and logistics firms, many of them near the airport. Tourism and cruises, finance and wealth management, health care, real estate and construction carry much of the rest. Palm Beach County adds wealthy seasonal residents and, out west near Lake Okeechobee, sugarcane and vegetable farms. In the Keys, nearly everything turns on visitors, fishing and boating.

Companies that serve homes, condo buildings and other businesses do well here: the building trades, property services, insurance agencies, medical and dental practices, and professional firms.

Costs run high: commercial rent, wages and, above all, property and windstorm insurance. Price the insurance before you make an offer, not after. Miami-Dade and Broward make up the Florida Building Code's High-Velocity Hurricane Zone, with stricter rules for roofs, windows and structures. That raises building costs, and it also gives steady work to the contractors who know those rules well.

Much of the workforce and many customers speak Spanish as well as English, and a company that works well in both languages has an edge. The winter season matters more in Palm Beach County and the Keys than in Miami. In the Keys, the cost of housing makes hiring and keeping staff one of the hardest parts of running a company. Ask any seller there how they find workers and where those workers live.