January 24, 2021  
 
  Entrepreneurial Resources - Advice for North Carolina Entrepreneurs  
  Cherokee, North Carolina Resources for Entrepreneurs  
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Starting a Business in Cherokee, North Carolina

Thinking about starting a business in Cherokee, North Carolina? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Cherokee.

Will You Be a Good Entrepreneur?

Most startup ventures do not succeed, 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.

Here are three things we recommend you do before you fully commit to starting a new business of your own.

  • Speak with other entrepreneurs in Cherokee. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
  • You should read Starting a Company. It's a good read for those who are thinking about becoming an entrepreneur.
  • Talk it over with a close friend or partner. Others sometimes know you better than you know yourself.

What Business to Start

An important decision is what kind of business you want to start. To help you decide on a business type, we encourage you to read Good Business Ideas.

For step-by-step instructions on starting a variety of business types, visit the Good Businesses to Start section of our site. For example, you might be interested in our Starting a Dance Club guide or our Starting a Tatoo Parlor guide.

Don't forget that starting a business in Cherokee has some implications. Some businesses will do better in Cherokee than others. Make sure you fully understand Cherokee demographics before you lock in on your business idea.

Cherokee, North Carolina Demographic Information

Cherokee has an active business community that includes small businesses, mid-sized businesses and large businesses.

To give you a better feel for Cherokee demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Cherokee.

Business Size# of
Businesses
1-4 Employees 1120
5-9 Employees 396
10-19 Employees 252
20-49 Employees 120
50-99 Employees 24
100-249 Employees 12
250-499 Employees 12
500-999 Employees 0
1000+ Employees 12
All Cherokee Businesses 1948

As a new Cherokee entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Cherokee 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
Amusement Arcades 1
Book Stores 1
Cafeterias 1
Casino Hotels 1
Child Day Care Services 2
Convenience Stores 1
Credit Unions 1
Electronic Shopping 1
Elementary and Secondary Schools 1
Exterminating and Pest Control Services 1
Fitness and Recreational Sports Centers 1
Fruit and Vegetable Markets 1
Full-Service Restaurants 8
General Freight Trucking, Local 1
General Medical and Surgical Hospitals 1
Gift, Novelty, and Souvenir Stores 31
Grantmaking Foundations 1
Hardware Stores 1
Historical Sites 1
Hobby, Toy, and Game Stores 3
Interior Design Services 1
Kidney Dialysis Centers 1
Lessors of Other Real Estate Property 1
Limited-Service Restaurants 13
Luggage and Leather Goods Stores 1
Museums 1
Office Administrative Services 1
Professional Employer Organizations 1
Securities Brokerage 1
Shoe Stores 1
Site Preparation Contractors 1
Snack and Nonalcoholic Beverage Bars 2
Sporting Goods Stores 1
Tire Dealers 2
Tobacco Stores 2
Video Tape and Disc Rental 1
Vocational Rehabilitation Services 2
Wired Telecommunications Carriers 1

What About Franchising Opportunities?

As you drive around Cherokee, 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?

We advise the entrepreneurs we work with to consider franchising as an option. We have many articles on franchises, such as Franchise Marketing Support. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.

To learn about specific franchise opportunities, check out our Franchise Directory.

Representative franchise opportunities include Subway Franchises and Starbucks Franchises. Alternatively, you can browse franchise categories, such as Accounting Franchises and Moving Franchises.

Note on Cherokee Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Cherokee.

Have You Considered Buying an Existing Cherokee Business?

An excellent way to get started in business is to Buy a Business in North Carolina. Follow that link and you can review several good businesses for sale in Cherokee.

If you are serious about buying a business, you may want to read this article: Buying a Business.

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.

Company names need to be easy to spell, easy to pronounce, and easy to remember.

To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Business.

On a final note, given that you are starting a business in Cherokee, it's imperative that you check now that you will be the only North Carolina company using the business name you have chosen.

Forming a Company in Cherokee, North Carolina

It's essential that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.

The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.

Incorporating is a very popular way to form a business. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in North Carolina, you don't necessarily have to incorporate in North Carolina. 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. To learn the fundamentals of company formation, browse articles on our site, such as Corporate Formalities. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Cherokee, North Carolina, our information on Incorporating in North Carolina may be a useful resource if you decide to incorporate in North Carolina.

The Role of the Business Plan

A business plan is essential in laying a solid foundation for your business success. Indeed, a business plan is a written description of the future you envision for your business. Failure to write a business plan is a recipe for disaster.

To learn more about business plans, read Find Sample Business Plans Online. A great resource for business planning assistance is the free business counselors available to you through your local SCORE chapter in North Carolina.

Raising Capital for Your Company

Finding the funds to fuel the growth of your Cherokee business is not an easy task. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.

Take advantage of our many articles on raising capital, such as Realistic Debt Financing Options.

For Cherokee entrepreneurs with great ambition but a shortage of investment capital, check out our List of North Carolina Angel Investors and our List of North Carolina Venture Capital Firms.

Marketing Your New Company

Whether your goal is to attract Cherokee customers or you plan on selling elsewhere, you need a excellent marketing plan.

There are myriad resources on this site to help you with your marketing plan. Dealing with Angry Customers 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.

Bring in Revenues

Mastering the art of selling is essential if you want your new Cherokee business to do well.

Good selling involves demonstrating that your wares meet your customer's needs. Fortunately, we've got plenty of good advice to help you improve your selling skills.

Selling Products on eBay is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.

Advancing Your Entrepreneurial Skills

Good entrepreneurs recognize that what they know now may not be enough to ensure their future success.

Given that you are starting a business in Cherokee, North Carolina, you will want to take advantage of the many programs available at nearby North Carolina universities, colleges and community colleges. We also recommend you look into networking groups or organizations in which Cherokee entrepreneurs get together to network and trade their business experiences.

What's Next?

Most new Cherokee businesses underestimate the number of challenges they will face.

If you choose the right business and love what you do, you will greatly increase your odds of success.

This site is all about helping entrepreneurs in Cherokee 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 Cherokee, North Carolina

Here are more links that we believe will help you be successful in starting a business in Cherokee.

 

 

Additional Resources for Entrepreneurs

Buying a Business

Writing a Business Plan

Raising Money

Incorporate

Small Business Marketing

Advertising Advice

Public Relations -

Customer Service Tips

Entrepreneurial Selling

Workplace Safety