As a Dallas-based business owner, you will have seen your city thrive as a commercial environment in recent times. The growth and progress that it has experienced, and continues to experience, makes it a highly attractive location for expanding companies – and a profitable place for those selling a business in Dallas.
Not only is the city home to 22 Fortune 500 companies (the 3rd highest among metropolitan areas nationwide) but it is also ranked first in the Paychex and IHS' Small Business Jobs Index, demonstrating it’s a hospitable place for business owners on any scale. Dallas is also home to Generational Equity, so we are perfectly placed to understand the vibrant and optimistic atmosphere that the current wave of new business is bringing to the city.
Below, we delve into the distinct characteristics that make the opportunities to sell a business in Dallas for maximum value so incredible right now.
Success in Dallas Business Growth
Dallas' success as a destination for commerce is increasingly evident. The real GDP stands at a healthy $535 billion, and with an exceptional growth rate of 3.9%. Marketwatch named Dallas America's most business-friendly city in 2015, and it continues to be a prosperous environment for business owners. The recent relocations of prominent private companies, such as Comerica and AT&T, are testament to this.
The city's consistent growth plays a key role in attracting buyers and investors across the country and worldwide, enhancing the prospects of selling a company in Dallas regardless of industry.
The People That Make Dallas Prosper
Much of this success is down to the people that make Dallas tick. It's among the fastest growing metropolitan areas in the United States over the last decade with the region expected to grow to 10.6m people by 2040. In fact, someone moves to Dallas every five minutes. This allows the labor market to keep in step with business growth.
While rapid expansion has caused recruitment problems for businesses elsewhere in Texas, Dallas has attracted an influx of workers to its talent pool with its high quality of living and low living costs.
Dallas is also home to three Research 1 universities, which will continue to feed into the skilled workforce for decades to come. A. T. Kearney placed Dallas in the Top 50 global cities for attracting talent, business, ideas and capital in 2015, a reputation that has only continued to grow. For those seeking to exit a business in Dallas, this population is a powerful reason why buyers are drawn to the area.
Dallas: A Culture of Commerce
But what makes the commercial environment so attractive to business owners? One of the reasons is accommodating regulations that are primed for business growth. Dallas business owners don't worry about income tax and can thrive in an unrestrictive environment when it comes to land use, business permitting, and compliance costs.
Did you know the cost of doing business in Dallas is 7% lower than the national average? With excellent room to expand, minimal business costs and a real entrepreneurial spirit, it's an exciting time for Dallas business owners to build their company further, or consider the benefits of selling their business to capitalize on the area's outstanding appeal and strength of this seller's market.
Dallas Location, Infrastructure and Transport
Being centrally located in North America, Dallas allows you to ship to 98% of the US population within two days via ground transportation, or fly to any North American city within 4 hours. The economy is bolstered by an enviably robust transport network, covering road, rail and air, and epitomized by Dallas/Fort Worth International Airport, which hosted over 67 million people in 2017.
The volume of real estate available to business is expanding too. In the first quarter of 2015, Dallas-Fort Worth added more industrial property than any other U.S. city. This commercial space makes it no surprise that the area attracts such a broad wave of businesses, from start-up launches to investment. Every month, new companies are appearing on the scene, and entrepreneurs are benefitting from this interest in Dallas by selling their businesses for optimum value.