Indiana Business Startup Guides
Starting a Business in Evansville, Indiana
Thinking about starting a business in Evansville, Indiana? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Evansville.
Are You Sure You Want to Do This?
Most startup businesses fail, in part because the business owner did not have the entrepreneurial skills and traits needed to succeed. So, before you open a 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:
- Talk to other entrepreneurs in Evansville. Ask them candidly what it's like to run a business.
- We recommend reading Should You Become an Entrepreneur?. For aspiring new entrepreneurs, it's a must read article.
- Have a candid conversation with friends and family. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Evansville, Indiana Demographic Information
Evansville has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Evansville demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Evansville.
As a new Evansville entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Evansville 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.
Have You Considered Franchising?
As you drive around Evansville, it becomes clear that purchasing a franchise is a common way to get started as an entrepreneur. Would going with a franchise be a good idea for you?
We advise the entrepreneurs we work with to consider franchising as an option. On our site, you can read many articles about franchising, such as Understanding Franchise Contracts. 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.
Representative franchise opportunities include Papa Gino's and Whizard Academy for Mathematics and English. Alternatively, you can browse franchise categories, such as Training and Education Franchises and Cell Phone Franchises.
Note on Evansville Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Evansville.
Do You Need a Business Plan?
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. Starting a business without a business plan is a recipe for disaster.
To learn more about business plans, read 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 Indiana.
Raising Money for Your New Venture
Raising money to fund your new Evansville 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.
The good news is this site contains dozens of articles on raising money, including one we recommend entitled Business Credit Evaluation.
How to Improve Your Entrepreneurial Abilities
The best entrepreneurs recognize that they don't know everything.
With your business being located in Evansville, Indiana, you should get information on some of the learning programs at local Indiana educational institutions. You should also check if there are any networking groups or organizations in which Evansville entrepreneurs get together to network and trade their business experiences.
Most new Evansville 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.
We are here to help Evansville businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Evansville entrepreneur who is just getting started or you are already up and running with your new venture.
More Entrepreneurial Resources for Starting a Business in Evansville, Indiana
Here are more links that we believe will help you be successful in starting a business in Evansville.
- Resources for Evansville, Indiana Entrepreneurs - Browse a variety of resources we've collected to assist Evansville entrepreneurs.
- Indiana Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Indiana.
- Indiana Small Business Development Center - The Indiana Small Business Development Center assists Indiana entrepreneurs and small businesses through one on one counseling, education and business resources.
More Business Startup Guides for Indiana
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