Unemployment rate in Port St. Lucie (Fort Pierce: low income, sales, real estate)

[blepp]

Hello,

I am thinking about opening a franchise in Port St. Lucie and just read that the county has the 2nd largest unemployment rate in the state. Can anybody offer some insight or thoughts on this?

[TriMT7]

Originally Posted by blepp

Hello,

I am thinking about opening a franchise in Port St. Lucie and just read that the county has the 2nd largest unemployment rate in the state. Can anybody offer some insight or thoughts on this?

Be sure to segregate "Port St. Lucie" from Fort Pierce, which is in the same county.

According to this site:

Port Saint Lucie Jobs (FL) | SimplyHired

PSL's unemployment rate is 4.2%

According to this site:

Port St. Lucie, FL Economy at a Glance

It's 5.7%

[Lilybeans]

Port St. Lucie is very heavily dependent on the construction industry. A lot of people in PSL work in that field, and a lot of them are out of work right now.

[grantsgirl]

I used to live in Port Saint Lucie West. We sold our house last May after it being on the market for 7 mths! The town grew so fast-and the housing market boomed and then fell and is still falling. My husband was a real estate agent and the company he worked for had alot of inventory. You could buy a house really cheap right now though..

[nanwalt3]

You should be able to find plenty of help for your store. What kind of store will it be??? Good Luck!

Originally Posted by blepp

Hello,

I am thinking about opening a franchise in Port St. Lucie and just read that the county has the 2nd largest unemployment rate in the state. Can anybody offer some insight or thoughts on this?

[Prettygyrl777]

Depends on the franchise- even in a dipping economy, certain businesses can still survive. Especially when you're talking about impulse shopping, food, entertainment (movies, etc). People are less likely to spend on big ticket items but will always find cash for the items that will bring them 'quick highs' in tight times.

Being a long time PSL resident- I know that education and medical fields tend to remain steady. Most of your teachers, medical professionals are not as impacted by these highs and lows as much as those who are working in the service industry or in a business. I actually just got a raise at my place of employment and we don't traditionally have 'cut backs' like some other places would. What kind of consumer base are you trying to attract?

[Mike11442]

DONT OPEN A BUSINESS IN PORT SAINT LUCIE, Avoid Florida all together if posible. 2 Wendys, 1Blimpie,1Obee Sub,1Jersery Mike subs and servial other have gone out of business in the past 2 years. The area is low income and poeple dont want to spend. I own a Sub shop that is soon to be gone. The Area looks very nice but they are anti business, Go in to shops and ask the different owners. Also poeple will lye about sales data when buying a business, Get a copy of there tax turn before any offers. hope this helps

[stevep111]

I think you should temper the statments of a disgruntled business person with the success that others are having in PSL. Just a couple of months ago the City had a Businesspalozza at the new Civic Center to help local businesses get out the message that they are around. I don't think that shows anti business sentaments.

PSL is not a low income place. It isn't the opposite but somewhere in between. Sure PSL has seen bad times in the past year but things are beginning to turn the corner. There are businesses opening up every day and new construction of homes and businesses are still going on.

It is not at boom status like when some people opened up stores that were dependant on the boom only to go out of business when the boom ended but you can survive if you have the smarts to do well. If you know the market and have a good product and a good location you will succeed.

[irin73]

I think willl be a good idea, u will find a lot of help, the only thing has to be a good location and of course know your business. Depending of what kind of franchise ( if is food, will be good , people always got to eat somewere ) Good luck

[Big Brothers Big Sisters]

What is the unemployment tax rate in Port St. Lucie Florida