Arizona Business Startup Guides
Start a Business in Tempe, Arizona
Are you starting a business in Tempe, Arizona? This article discusses the most important things to consider when opening a business in Tempe.
Tempe, Arizona Demographic Information
Tempe has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Tempe demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Tempe.
Businesses
As a new Tempe entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Tempe 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.
Businesses
Is a Franchise Opportunity Right For You?
Visit the business district of Tempe and you'll notice that many local entrepreneurs have gone the franchising route. So, it probably makes sense for you to consider franchising too.
Our recommendation is that you consider franchising as an option. We have many articles on franchises, such as The Disadvantages of Franchise Ownership. Get a thorough education on franchising by browsing all of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Sample franchise opportunities include Owens Corning and Barmetrix Canada. Alternatively, you can browse franchise categories, such as Apparel Franchises and Healthcare Franchises.
Note on Tempe Franchise Opportunities: To find out if a franchise you are interested in is available in Tempe, you will need to get in direct contact with the franchisor.
Naming the Company
A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.
Before you decide on a company name, run it by some prospective customers and see what they think. If they don't like it, it's probably a good idea to go back to the drawing board.
For other considerations regarding naming a company, we recommend this article: Branding Advice.
There's one other important factor when naming a business. Since you are opening a business in Tempe, it's very important that you make sure you will be the only Arizona company using the business name you have chosen.
Forming a Company in Tempe, Arizona
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. The biggest advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporating is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Arizona, it doesn't mean you are required to incorporate in Arizona. In fact, you can incorporate in the state of your choosing. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There are many nuances to forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Subchapter S Corporations. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Tempe, Arizona, our information on Incorporating in Arizona may be a useful resource if you decide to incorporate in Arizona.
The Role of the Business Plan
Having a business plan is essential in laying a solid foundation for your business success. Simply put, a business plan is a written description of the future you envision for your business. Not having a business plan makes you more prone to becoming a business failure statistic.
To learn more about business plans, read Business Plan Outsourcing. You can also get free counseling sessions provided by your local SCORE chapter in Arizona.
Where to Get Money to Start a Company
Finding the funds to fuel the growth of your Tempe business is very difficult due to the ongoing business credit crunch. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.
On the bright side, this site contains dozens of articles on raising money, including one we recommend entitled Bank Credit Lines.
For Tempe entrepreneurs who want to raise money for a new venture, we have assembled a List of Arizona Angel Investors and our List of Arizona Venture Capital Firms.
Improving Your Entrepreneurial Skillset
Good business owners recognize that they don't know everything.
With your business being located in Tempe, Arizona, you will want to take advantage of the learning programs at local Arizona educational institutions. We also suggest you look into Tempe networking organizations.
Some Interesting Tempe Entrepreneurs
Here, we'll keep a running list of interviews we've had with Tempe entrepreneurs.
Next Steps
You have a dream -- starting a business in Tempe. To achieve your dream, you have to persevere, even when the odds are against you.
From this point on, you control your own destiny.
We are here to help Tempe businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Tempe, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Tempe, Arizona
Here are more links that we believe will help you be successful in starting a business in Tempe.
- Resources for Tempe, Arizona Entrepreneurs - Browse a variety of resources we've collected to assist Tempe entrepreneurs.
- Arizona Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Arizona.
- Arizona Small Business Development Center - Arizona�s Small Business Development Center Network is an innovative partnership between the state�s ten community college districts and the U.S. Small Business Administration. The network is the largest and most accessible source of assistance to Arizona businesses with fewer than 200 employees.
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