Texas Business Startup Guides
Start a Business in Franklin, Texas
Are you starting a business in Franklin, Texas? This article discusses the most important things to consider when opening a business in Franklin.
Are You Sure You Want to Do This?
An entrepreneurial life is demanding, much more arduous than working as an employee. Are you positive you are ready to take on this challenge?
Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:
- Talk to other entrepreneurs in Franklin. 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.
What Business to Start
An important decision is what kind of business you want to start. You might get some good ideas about what kind of business to start by reading Business Ideas That Don't Make Sense.
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 a Farm Equipment Tires Business guide or our How to Start a Mental Health Practitioners Business guide.
Always keep in mind that starting a business in Franklin has some implications. Some businesses will do better in Franklin than others. Study Franklin demographics and do a competitive analysis as part of your startup planning process.
Franklin, Texas 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.
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.
Naming the Business
A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.
Pick a company name that isn't too generic. If you do a search engine search for your proposed name and a billion results come up, you may want to reconsider the name. It's much easier to come up in the search engines when your name is fairly unique.
Numerous company naming issues are discussed in more detail in this article: Naming a Business.
On a final note, given that you are starting a business in Franklin, it's critical that you ensure that no other Texas company is using the business name you want to use.
Make Sure You Have a Business Plan
A business plan is vital to the health of your new business. In effect, a business plan describes what you plan to do with the business and how you plan to do it. Starting a business without a business plan is a recipe for disaster.
Increase Your Entrepreneurial Knowledge
Good entrepreneurs recognize that they need to continually improve.
With your business being located in Franklin, Texas, you will want to take advantage of the many programs available at nearby Texas universities, colleges and community colleges. It's also worthwhile to see if there are any networking organizations for Franklin entrepreneurs.
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.
Our goal here is to promote the vitality and growth of small businesses in Franklin and throughout the United States . 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 Franklin, Texas
Here are more links that we believe will help you be successful in starting a business in Franklin.
- Resources for Franklin, Texas Entrepreneurs - Browse a variety of resources we've collected to assist Franklin entrepreneurs.
- Texas Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Texas.
- Houston, Texas Small Business Development Center - Serving 32 counties in Southeast Texas through 14 business consulting and training centers, the Small Business Development Center Network contributes to the growth and prosperity of the Texas Gulf Coast communities.
- North Texas Small Business Development Center - The NTSBDC Network promotes small business success by providing management education.
- Northwest Texas Small Business Development Center - The Northwest Texas Small Business Development Center was established with Texas Tech University in 1986. This regional program serves over ninety thousand square miles including ninety-five counties with a population base of approximately 1.8 million people. This region is serviced by six centers located in Lubbock, Amarillo, Midland/Odessa, Abilene, Stephenville, and Wichita Falls.
- South-West Texas Border SBDC Network Texas Small Business Development Center - The South-West Texas Border Small Business Development Center (SBDC) provides consulting and technical assistance to the small business community.
Starting-a-Business Guides for Other Cities in Texas
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