January 24, 2021  
 
  Entrepreneurial Resources - Advice for Nebraska Entrepreneurs  
  Franklin, Nebraska Resources for Entrepreneurs  
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Open a Business in Franklin, Nebraska

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

What Type of Business Should You Start?

An important decision is what kind of business you want to start. To stir your creative juices on what kind of business to start, take a look at Evaluating Your Idea.

For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Starting an Industrial Engineers Business guide or our Starting a Motion Picture Consultants Business guide.

Remember that your new business will be in Franklin. Some businesses will do better in Franklin than others. Make sure you fully understand Franklin demographics before you lock in on your business idea.

Franklin, Nebraska 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 2262
5-9 Employees 936
10-19 Employees 390
20-49 Employees 390
50-99 Employees 78
100-249 Employees 0
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Franklin Businesses 4056

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 Parts and Accessories Stores 1
Cafeterias 1
Child Day Care Services 2
Drinking Places (Alcoholic Beverages) 3
Farm Supplies Merchant Wholesalers 1
Fitness and Recreational Sports Centers 1
Full-Service Restaurants 1
Funeral Homes and Funeral Services 1
General Automotive Repair 2
General Medical and Surgical Hospitals 1
Gift, Novelty, and Souvenir Stores 1
Grantmaking Foundations 1
Insurance Agencies and Brokerages 1
Meat Markets 1
Museums 1
Natural Gas Distribution 1
Newspaper Publishers 1
Nursing Care Facilities 1
Offices of Certified Public Accountants 1
Offices of Dentists 1
Offices of Lawyers 1
Pharmacies and Drug Stores 1
Photography Studios, Portrait 1
Residential Remodelers 2
Tire Dealers 1
Title Abstract and Settlement Offices 1

What About Franchising Opportunities?

As you drive around Franklin, you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?

Most business experts recommend that you evaluate the possibility of your buying a franchise opportunity. We have many articles on franchises, such as Franchising My Business. Get a thorough education on franchising by browsing all of our Articles on Franchising.

You can review hundreds of franchise opportunities by browing our Franchise Directory.

Sample franchise opportunities include Radisson Hotels & Resorts and Kettleman's Bagel Corporation. Alternatively, you can browse franchise categories, such as Consulting Franchises and Franchises that Serve Liquor.

Note on Franklin Franchise Opportunities: To find out if a franchise you are interested in is available in Franklin, you will need to get in direct contact with the franchisor.

Company Formation in Franklin, Nebraska

It's very important that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your liabilities.

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. 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. Just because you are starting a business in Nebraska, it doesn't mean you are required to incorporate in Nebraska. As it turns out, you are allowed to incorporate in any state you would like to. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.

There's a lot to know about 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 Franklin, Nebraska, our information on Incorporating in Nebraska may be a useful resource if you decide to incorporate in Nebraska.

Make Sure You Have a Business Plan

A business plan is vital in maximizing the prospects of your new company. Simply put, 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.

If writing a business plan is on your to-do list, be sure to read Find Sample Business Plans Online. You can also get face-to-face free consulting available from your local SCORE chapter in Nebraska.

Raising Money for Your Business

Finding the funds to fuel the growth of your Franklin business is not an easy task. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.

Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Getting a Small Business Loan.

For Franklin entrepreneurs who want to raise money for a new venture, check out our List of Nebraska Angel Investors and our List of Nebraska Venture Capital Firms.

Getting the Word Out About Your New Business

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

We have some helpful resources on this site for entrepreneurs who are working on marketing plans. Advertising in the Yellow Pages is a good read to get your marketing creativity flowing. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.

What's Next?

You have a dream -- starting a business in Franklin. To achieve your dream, you have to persevere, even when the odds are against you.

Owning your own business will be a daunting task, but you can do it.

We are here to help Franklin businesses to be successful. 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, Nebraska

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