January 26, 2021  
 
  Entrepreneurial Resources - Advice for Indiana Entrepreneurs  
  Franklin, Indiana Resources for Entrepreneurs  
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Open a Business in Franklin, Indiana

Need help starting a business in Franklin, Indiana? We've got the information you need to open a business in Franklin.

Franklin, Indiana 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 25818
5-9 Employees 12714
10-19 Employees 6942
20-49 Employees 4056
50-99 Employees 1950
100-249 Employees 624
250-499 Employees 624
500-999 Employees 234
1000+ Employees 0
All Franklin Businesses 52962

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
Air and Gas Compressor Manufacturing 1
Aluminum Die-Casting Foundries 1
Ambulance Services 1
Automotive Parts and Accessories Stores 5
Automotive Transmission Repair 1
Ball and Roller Bearing Manufacturing 1
Beauty Salons 4
Beer, Wine, and Liquor Stores 2
Book Stores 2
Bowling Centers 1
Building Inspection Services 1
Business Associations 4
Cafeterias 1
Car Washes 2
Carpet and Upholstery Cleaning Services 1
Child and Youth Services 2
Child Day Care Services 11
Children's and Infants' Clothing Stores 1
Civic and Social Organizations 6
Coin-Operated Laundries and Drycleaners 3
Commercial Lithographic Printing 2
Computer and Software Stores 1
Computer Systems Design Services 3
Consumer Lending 2
Continuing Care Retirement Communities 1
Convenience Stores 2
Copper Wire (except Mechanical) Drawing 1
Credit Unions 1
Custom Compounding of Purchased Resins 1
Custom Computer Programming Services 2
Dental Laboratories 1
Direct Title Insurance Carriers 1
Display Advertising 1
Drinking Places (Alcoholic Beverages) 3
Drywall and Insulation Contractors 4
Electric Power Distribution 3
Electrical Contractors 8
Engineering Services 3
Facilities Support Services 2
Family Planning Centers 1
Farm Supplies Merchant Wholesalers 2
Fine Arts Schools 1
Finish Carpentry Contractors 4
Fitness and Recreational Sports Centers 5
Floor Covering Stores 2
Flooring Contractors 1
Florists 2
Food (Health) Supplement Stores 2
Food Service Contractors 1
Footwear Merchant Wholesalers 1
Freight Transportation Arrangement 1
Full-Service Restaurants 19
Funeral Homes and Funeral Services 4
Furniture Stores 2
General Automotive Repair 5
General Freight Trucking, Local 3
General Medical and Surgical Hospitals 1
General Rental Centers 1
General Warehousing and Storage 2
Gift, Novelty, and Souvenir Stores 1
Golf Courses and Country Clubs 4
Grantmaking Foundations 3
Hand and Edge Tool Manufacturing 1
Hardware Stores 2
Historical Sites 1
Home Centers 1
Home Health Care Services 3
Homes for the Elderly 2
Household Appliance Stores 2
Industrial Launderers 1
Insurance Agencies and Brokerages 15
Interior Design Services 3
Investigation Services 1
Investment Advice 1
Iron Foundries 1
Janitorial Services 5
Jewelry Stores 2
Landscape Architectural Services 1
Landscaping Services 6
Lessors of Other Real Estate Property 2
Limited-Service Restaurants 22
Limousine Service 1
Local Messengers and Local Delivery 1
Locksmiths 1
Machine Shops 3
Mail-Order Houses 1
Marketing Consulting Services 2
Masonry Contractors 1
Metal Heat Treating 1
Mortgage and Nonmortgage Loan Brokers 1
Motor Vehicle Metal Stamping 1
Motor Vehicle Towing 1
Musical Instrument and Supplies Stores 1
Nail Salons 1
Natural Gas Distribution 1
New Car Dealers 4
New Housing Operative Builders 1
Newspaper Publishers 1
Nonferrous Forging 1
Nursing Care Facilities 3
Office Equipment Merchant Wholesalers 2
Office Supplies and Stationery Stores 1
Offices of Certified Public Accountants 5
Offices of Chiropractors 6
Offices of Dentists 12
Offices of Lawyers 21
Offices of Optometrists 6
Offices of Real Estate Appraisers 2
Outdoor Power Equipment Stores 2
Painting and Wall Covering Contractors 7
Pet Care (except Veterinary) Services 3
Pharmacies and Drug Stores 3
Photography Studios, Portrait 1
Plastics Bottle Manufacturing 1
Precision Turned Product Manufacturing 1
Private Mail Centers 2
Public Relations Agencies 1
Quick Printing 1
Ready-Mix Concrete Manufacturing 1
Real Estate Credit 2
Refrigerated Warehousing and Storage 1
Residential Property Managers 1
Residential Remodelers 8
Roofing Contractors 2
Rooming and Boarding Houses 1
Savings Institutions 4
Sawmills 1
Securities Brokerage 4
Siding Contractors 3
Site Preparation Contractors 5
Snack and Nonalcoholic Beverage Bars 3
Sporting Goods Stores 1
Sports and Recreation Instruction 1
Tax Preparation Services 1
Temporary Help Services 4
Tile and Terrazzo Contractors 2
Title Abstract and Settlement Offices 2
Tobacco Stores 1
Used Car Dealers 4
Used Merchandise Stores 1
Vending Machine Operators 1
Veterinary Services 5
Video Tape and Disc Rental 4
Vocational Rehabilitation Services 2
Voluntary Health Organizations 1
Warehouse Clubs and Supercenters 1
Web Search Portals 1
Wholesale Trade Agents and Brokers 3
Wired Telecommunications Carriers 3
Women's Clothing Stores 2
Wood Container and Pallet Manufacturing 2
Wood Window and Door Manufacturing 1

Is a Franchise Opportunity Right For You?

As you drive around Franklin, it's apparent that franchising has become a very popular way to start a business. But is franchising the right option for you?

We highly recommend you consider franchising as an option. We have many articles on franchises, such as Understanding Franchise Contracts. 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 Professional House Doctors and Mint Condition Franchising, Inc.. Alternatively, you can browse franchise categories, such as Restaurant Services Franchises and Telecommunications Franchises.

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

Is Buying an Existing Franklin Business a Good Strategy?

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

For anybody who wants to buy a business, we recommend reading this useful article: Buying a Business.

Forming a Company in Franklin, Indiana

It's essential that your business is formed as a legal entity that is separate from its owners. The principal advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.

When forming a company, you will choose from many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.

Incorporating is a very popular way to form a business. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. If you are starting a business in Indiana, you don't necessarily have to incorporate in Indiana. 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 Incorporating Online. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Franklin, Indiana, our web page covering Incorporating in Indiana may be a useful resource if you decide to incorporate in Indiana.

Do You Need a Business Plan?

A business plan is critical in laying a solid foundation for your business success. Simply put, a business plan describes what you plan to do with the business and how you plan to do it. Failure to write a business plan is a recipe for disaster.

To learn more about business plans, read Business Plan Software. You should also take advantage of face-to-face free consulting available from your local SCORE chapter in Indiana.

Where to Get Money to Start a Company

Obtaining startup financing for your Franklin business will be harder than you might expect. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.

To learn about raising money, we recommend you read the fundraising articles on our site, such as Business Credit Evaluation.

For Franklin entrepreneurs in need of startup financing, check out our List of Indiana Angel Investors and our List of Indiana Venture Capital Firms.

Promoting Your New Company

Whether your goal is to attract Franklin customers or you plan on selling elsewhere, you'll need to have a good marketing plan.

You can learn quite a bit about marketing on our site. Yellow Pages Advertising Advice is an article that will generate a few thoughts on your marketing plan. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.

Now It's Up To You

As an entrepreneur in Franklin, you won't be working for the boss anymore. You are the boss.

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 want to be there for you to answer your business questions, whether you are a new Franklin 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 Franklin, Indiana

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

 

 

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