Contemplating starting a business in Franklin, Louisiana? We walk you through the process of opening a business in Franklin.
Are You Sure You Want to Do This?
Most new companies don't make it, in part because the entrepreneur did not have the entrepreneurial skills and traits needed to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Speak with other entrepreneurs in Franklin. Ask them candidly what it's like to run a business.
- You should read Business Failure. It's a good read for those who are thinking about becoming an entrepreneur.
- Involve a spouse, family member or trusted friend in the decision. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Franklin, Louisiana Demographic Information
Franklin has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Franklin demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Franklin.
| Business Size | # of Businesses |
| 1-4 Employees |
10504 |
| 5-9 Employees |
4134 |
| 10-19 Employees |
2418 |
| 20-49 Employees |
1092 |
| 50-99 Employees |
858 |
| 100-249 Employees |
624 |
| 250-499 Employees |
0 |
| 500-999 Employees |
0 |
| 1000+ Employees |
0 |
| All Franklin Businesses |
19630 |
As a new Franklin entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Franklin for each business category. By looking at this chart, you can get
a general sense for how much competition there is in the business niche that
you are pursuing.
| Business Type |
# of Businesses |
| Automotive Exhaust System Repair |
1 |
| Automotive Parts and Accessories Stores |
3 |
| Business Associations |
1 |
| Cable and Other Program Distribution |
1 |
| Cafeterias |
1 |
| Carbon Black Manufacturing |
3 |
| Child Day Care Services |
3 |
| Civic and Social Organizations |
1 |
| Consumer Lending |
10 |
| Convenience Stores |
2 |
| Credit Unions |
2 |
| Dental Laboratories |
1 |
| Diagnostic Imaging Centers |
1 |
| Discount Department Stores |
1 |
| Drinking Places (Alcoholic Beverages) |
1 |
| Educational Support Services |
1 |
| Electrical Contractors |
3 |
| Elementary and Secondary Schools |
2 |
| Engineering Services |
1 |
| Exterminating and Pest Control Services |
1 |
| Family Clothing Stores |
2 |
| Fish and Seafood Markets |
1 |
| Fish and Seafood Merchant Wholesalers |
1 |
| Floor Covering Stores |
1 |
| Flooring Contractors |
1 |
| Florists |
1 |
| Fossil Fuel Electric Power Generation |
2 |
| Fresh and Frozen Seafood Processing |
2 |
| Fruit and Vegetable Markets |
1 |
| Full-Service Restaurants |
6 |
| Funeral Homes and Funeral Services |
3 |
| General Automotive Repair |
2 |
| General Freight Trucking, Local |
1 |
| General Medical and Surgical Hospitals |
1 |
| General Rental Centers |
1 |
| Gift, Novelty, and Souvenir Stores |
2 |
| Glass and Glazing Contractors |
1 |
| Golf Courses and Country Clubs |
1 |
| Hardware Stores |
2 |
| Home Health Care Services |
2 |
| Industrial Building Construction |
1 |
| Insurance Agencies and Brokerages |
6 |
| Kidney Dialysis Centers |
1 |
| Land Subdivision |
1 |
| Landscaping Services |
3 |
| Lessors of Other Real Estate Property |
3 |
| Libraries and Archives |
1 |
| Limited-Service Restaurants |
10 |
| Masonry Contractors |
1 |
| Media Representatives |
1 |
| Museums |
1 |
| New Car Dealers |
1 |
| Nursing Care Facilities |
1 |
| Offices of Certified Public Accountants |
1 |
| Offices of Chiropractors |
1 |
| Offices of Dentists |
3 |
| Offices of Lawyers |
5 |
| Offices of Optometrists |
2 |
| One-Hour Photofinishing |
1 |
| Paint and Wallpaper Stores |
1 |
| Painting and Wall Covering Contractors |
3 |
| Petroleum Bulk Stations and Terminals |
1 |
| Pharmacies and Drug Stores |
3 |
| Photography Studios, Portrait |
1 |
| Pipeline Transportation of Natural Gas |
3 |
| Political Organizations |
1 |
| Port and Harbor Operations |
1 |
| Real Estate Credit |
1 |
| Recreational Goods Rental |
1 |
| Residential Property Managers |
3 |
| Sales Financing |
1 |
| Savings Institutions |
2 |
| Securities Brokerage |
1 |
| Ship Building and Repairing |
1 |
| Shoe Stores |
1 |
| Snack and Nonalcoholic Beverage Bars |
1 |
| Solid Waste Collection |
1 |
| Sporting Goods Stores |
1 |
| Sugarcane Mills |
1 |
| Synthetic Rubber Manufacturing |
1 |
| Tax Preparation Services |
2 |
| Temporary Help Services |
1 |
| Tire Dealers |
2 |
| Veterinary Services |
1 |
| Video Tape and Disc Rental |
1 |
| Wired Telecommunications Carriers |
1 |
What About Franchising Opportunities?
As you drive around Franklin, you may be surprised to see how many franchises there are in the area. Is there a franchise opportunity out there that makes sense for you?
Our advice is to look into purchasing a franchise. To help you learn more about franchising, we've gathered a ton of articles on franchising, including Five Franchise Opportunities To Watch. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
A comprehensive list of franchisors is available via our List of Franchise Opportunities.
Sample franchise opportunities include Starwood Hotels & Resorts Worldwide, Inc. and Doody Calls. Alternatively, you can browse franchise categories, such as Rental Franchises and Hotel and Motel Franchises.
Note on Franklin Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Franklin.
Make Sure You Have a Business Plan
A business plan is vital in maximizing the prospects of your new company. In effect, your business plan is your game plan for how you hope to grow your business. Not having a business plan is a recipe for disaster.
Before you start writing a business plan, we suggest you skim The Art of the Executive Summary. A great resource for business planning assistance is the free business counselors available to you through your local SCORE chapter in Louisiana.
Raising Capital for Your Venture
Raising money to fund your new Franklin business is very difficult due to the ongoing business credit crunch. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled 504 Loans.
For Franklin entrepreneurs in need of startup financing, check out our List of Louisiana Angel Investors and our List of Louisiana Venture Capital Firms.
Promoting Your New Startup
To rise above the crowd in Franklin and grow your business, you need a excellent marketing plan.
We have some great resources on this site for entrepreneurs who are working on marketing plans. Business Cards discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just a taste of the many useful articles we have on Marketing a Small Business.
Next Steps
Most new Franklin businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
This site is all about helping entrepreneurs in Franklin and elsewhere to achieve real success. We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.
More Entrepreneurial Resources for Starting a Business in Franklin, Louisiana
Here are more links that we believe will help you be successful in starting a business in Franklin.
Starting-a-Business Guides for Other Cities in Louisiana
Starting a Business in Ferriday
Starting a Business in Franklinton
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Business Startup Guides for Louisiana